Chapter 510 Everyone is Happy

   It has to be said that in terms of the confidentiality requirements of investors, the work done by the Blind Flower Fund is far less profound and effective than that done by the Base Camp Fund. At the request of the Base Camp Fund, the Undead Flower Fund did not disclose the identity of the buyer in the open letter. This is also the consistent style of the Base Camp Fund. Even their big investors do not want to get the slightest bit of information about their holdings from within the fund. Report.

  History has proved that once the positions of a certain fund are exposed, when the outside world judges that these positions are too heavy, traders from all over the world will attack these positions. In the vast majority of cases, no matter how large these positions are, the end result is extremely tragic. The positions of Sumitomo London Copper and Fuhua Natural Gas have proved this point, and in the future, this rule will continue to be repeatedly proved.

On September 26th, the last trading day of the natural gas position in September, although the matter of the non-withered flower fund has come to an end for the time being, there is almost no possibility for the bulls to turn around in the position in September, because of the collapse of the giants in the market. The bearish pressure made them breathless. The price opened at 4.53 that day. The bulls struggled for a moment, pulling the price up to 4.55, and then let the bears gain the upper hand. During this period, the price fell to the lowest point of 4.30. However, because the delivery day is approaching, after reaching this lowest point, the shorts and bulls began to close their positions tacitly, and the price of natural gas also recovered slightly, and finally recovered to $4.53 at the closing time, a drop of 1.57% from the previous trading day .

  At this point, the September natural gas position transaction is over, and the next step is the cash delivery of the cash delivery, and the physical delivery of the physical delivery.

   Looking at the entire market in September, the natural gas position, which was at a high level at the beginning of the month, was relatively stable, but the decline of more than 5% for two or three consecutive days made the market at a loss. The news that the position of the Evergreen Fund was in trouble broke out and the market fell into a frenzy. At this point, most traders began to frantically attack the long-month positions of the Evergreen Fund, which also dragged down the performance of natural gas in recent months.

  Among the whole incident, the most tragic thing is the spot month bulls in September. They never imagined that the fall of a giant caused them to suffer huge losses. This is simply the embodiment of being shot while lying down.

  Because of the consistent lack of rigor, after the position transfer of the Evergreen Fund, the bulls and the bears began to focus on the October contract after experiencing the fight on the last trading day. And the whole market is very clear. Although it is not clear which institution took over the position of the Buhua Fund, what is certain is that they must be rich and powerful, and they don't care about short-term gains and losses.

And traders are also very clear that the contract price difference between 0703 and 0704 has been hit by them to the level of 0.80 US dollars. Judging from historical data, this data is already a bit low, because the demand for natural gas between the two months is really The difference is a bit big, so the price is basically unreasonable. So some traders are thinking in their hearts, should they take the opportunity to retreat and pocket the profits?

   But of course they are not in charge of all this, and it depends on the big players in this market to make the rules.

   "The market is open!"

   On September 27th, when the October natural gas position started trading, a staggering number came out. Of course, this figure is relative to the price at the time of the final delivery in August.

  It was morning at this time, and facing the sunshine of the western hemisphere, Zhong Shi and Hu Ping were sitting in the office in a very happy mood, chatting and laughing while waiting for the opening time. At this time, the overall situation has been decided. Hu Ping's team has seized most of the funds lost by the Evergreen Fund. Now there is only one last question in front of them, that is, at what price will the institution that takes over the position of the Everflower Fund plan to close the position.

People including the other party are very clear that they will not hold these positions until the final March, because they are just speculators, not real physical demanders. Close the position and completely end the fighting in this market.

  In the final analysis, this is the redistribution of benefits after the war.

  When the market returned to its normal trajectory, the price of natural gas naturally opened in a reasonable range, at $5.76, which was more than 20% higher than the previous trading day. It's just a pity that some of those bulls last month didn't see this price.

   As for the far-month contracts, although the near-month contracts have risen sharply, as time goes by, the far-month contracts, especially 0703 and 0704, have not seen a big rise, on the contrary, they are still shrinking slowly.

"This...what's the situation?" When Jiang Shan saw this abnormal situation, he tilted his head and thought about it for a long time. He couldn't understand it, and asked Zhong Shi and Hu Ping beside him, "It doesn't make sense, since the moon has changed , and the Everlasting Flower Fund has been completely cleared out of the market, why is the spread of this part of the portfolio still falling?"

In his prediction, even if there will be no skyrocketing situation, the price difference between the two-month contracts will at least stay at the original level, that is, around 0.80, but the current situation is completely opposite to what he expected, which makes him Feel very puzzled.

"Do you say it or I say it?" Hu Ping smiled, asked Zhong Shi a question, saw the other party smiled and shook his head, and explained, "What you see is just an illusion. In fact, these are just traders. They are testing the psychology of real players in the market. They know very well that the market has changed and can no longer operate according to the previous logic, but they don't know what the attitudes of the two parties that dominate the market are. So use this method to test the opponent and see where their bottom line is."

"Don't worry now, it will probably take a while before the other party can really show their true intentions. Although their temptations will cause a certain degree of loss to the other party, since they can take such a huge position, the other party must not be far behind. A little money, so we still have to continue to observe the follow-up of the market.”

   After Hu Ping finished speaking with a smile, he nodded slightly at Zhong Shi, signaling him to add something. Zhong Shi smiled and waved his hands, indicating that there was nothing more to add.

   "But, but..."

  Jiang Shan scratched his head for a long time, but he still didn't fully understand. This can’t be blamed on him. Traders transferred from value investing have little understanding of the treacherous futures market, and his understanding in this regard needs to be strengthened. As a super trader, you need to understand not only the markets you are good at, but also the markets you are not familiar with. Obviously, Jiang Shan is not such a person.

"But who is the dominant force in the market?" Jiang Shan finally finished this sentence, his face was already flushed with embarrassment, he faintly noticed that he seemed to ask a question that should not be asked, but if he didn't say it , it was like thousands of cats scratching his heart, making him extremely uncomfortable.

   "Who is the dominant force in the market?"

  Hearing this question, Zhong Shi and Hu Ping laughed softly at the same time, which made Jiang Shan even more restless. After shaking his head helplessly, Zhong Shi counted with his fingers: "The Sagittarius Fund is one, and the mysterious buyer is one. Other institutions with heavy positions are also one. Of course, we are one too, and we are still one." One of the larger portions.”

  Jiangshan suddenly realized, and immediately nodded, and asked again: "Bosses, how should we operate, and what is the future strategy?"

Regarding the endless problems in Jiangshan, Hu Ping couldn't help frowning, snorted dissatisfiedly, and reprimanded: "Where are there so many problems? When the right time comes, I will naturally tell you. Now, you just concentrate on watching the market." .”

Although Hu Ping was slightly dissatisfied, Zhong Shi still admired the young man's thirst for knowledge. He waved his hand at Hu Ping and said to Jiang Shan with a cheerful expression: "First of all, you must be clear that since the other party dares to accept this part The purpose of a position must be to make a profit. As for the amount of profit, it depends on their expectations, which will be highlighted in future collisions. So don't worry, and carefully observe the other party's intentions. Secondly, when we observe the other party , the other party is also observing the opponents in the market, that is, us. In addition to observing the opponents who are against us, we must also pay attention to other "allies" including Sagittarius Fund. If they take the lead In the case of opening a position, it is basically equivalent to taking money out of our pockets. In the same way, we are the first to close the position, which is also tantamount to robbing their profits, so the three parties are standing still for the time being, waiting for the right time."

"So complicated?" After listening to Zhong Shi's analysis, Jiang Shan was so surprised that his mouth opened wide, and he couldn't close it for a long time. After half a minute, he said with difficulty, "It turned out to be like this. The previous cognition is completely different, my God, this is not value investment, but a naked game. God, isn’t this manipulating the market, how can it be like this?”

"Relax, young man, the regulatory authorities have not made a sound, why are you so excited!" Zhong Shi slightly shook his head and sighed, he was really speechless for Jiang Shan's over-considering temperament, but this aspect also It just shows his meticulousness and caution, "Generally speaking, cases of this kind of situation will basically not be judged as manipulating the market, because what the long and short sides have reached is a tacit transaction, and even if the management wants to get hold of it , I’m afraid it will take at least three to five years to prepare the materials, and this transaction will end within half a year at most, so you can rest assured.”

"The most important point is that you have to be clear that we speculators can only be regarded as correcting the market price after discarding those who are actually hedging. As long as we make a fundamental analysis to ensure that our operations are based on For this strategy, I think it is difficult for the SEC to make a reasonable judgment. After all, the price in this market is inherently volatile, and no one can explain what kind of price is normal and reasonable. So..."

   Having said this, Zhong Shi didn't go any further, as he had already fully expressed his meaning. Seeing that Jiang Shan still had doubts on his face, he didn't bother him at the moment, sat aside and began to stare at the board carefully.

   After a long while, Jiang Shan's face revealed a look of enlightenment. When he looked at Zhong Shi again, his eyes changed. It was only at this time that he was truly convinced that the other party did not succeed by accident, and this kind of deep insight into people's hearts was by no means easy to acquire, and this alone was enough to make him admire him.

   "Mr. Zhong, can I go to your company?" Jiang Shan quietly said to Zhong Shi after carefully peeking at Hu Ping who was patrolling in the distance.

   "What?" Zhong Shi was taken aback for a moment, and then looked at Jiang Shan in puzzlement. Seeing the sincerity on the other side's face, an elusive smile appeared on the corner of his mouth.

He is naturally optimistic about Jiangshan, but in recent observations, he found that Hu Ping also favors this young man, and he is cultivating it carefully everywhere. Due to the current friendly and cooperative relationship between the two parties, it is naturally inconvenient for him to attract him. account. But now that Jiangshan surrendered on his own initiative, the nature is different.

   I'm really sorry...I didn't release it until now due to network problems today...I hope everyone will forgive me...

  

  

  (end of this chapter)