After that, the price is at 13:56, 14:04 and 14:15. Three more times broke through the fall limit.

Although after opening the falling limit, the highest price only rushed up to 53,220 yuan before it was once again sealed on the falling limit, the phenomenon of the falling limit being opened repeatedly still made Li Xin's spirit highly nervous.

After 14:20, there were more and more orders piled up on the selling orders, gradually accumulating to more than 40,000 lots.

He thought: the price has reached such a position, and sure enough, the pressure on the bulls is much greater than that on the bears, and the orders for selling and closing positions are obviously much more than the orders for buying and closing, otherwise the falling limit will not be sealed.

By the time the market closed at 3 p.m., there were still more than 30,000 unfilled orders for selling. Li Xin was calm at this time: there are still so many sell orders waiting to stop the loss and leave, and the market will have to fall sharply at the opening tomorrow!

As soon as the futures market closed, Yuan Jie's phone call came: "Such a plunge is really breathtaking! Is there any inside information?"

Li Xin said: "There is no inside information." ”

"How can that be like this?"

"Do you think there's anything wrong?"

"No, the price has reached the current position, and there can still be a falling limit, what do the bears think? What is the problem with the copper price?"

Li Xin said: "This is not a matter of bears, it is a matter of bulls!"

Yuan Jie asked puzzledly, "What do you mean?"

Li Xin said: "Do you think that so many sell orders today are done by short positions?"

Yuan Jie thought for a while: "There are both long and short sides." ”

Li Xin said: "I think the vast majority of them are bulls. ”

"You mean this is a long stop-loss exit?"

"Otherwise, will the bears go in in this position?"

"It's also ha. But such a drop is too big, and the bulls are not afraid to sell on the floor if they stop their losses and leave the market in this place?"

Li Xin said: "Actually, this is very normal, if you look at how much the stock market index has fallen today? 1986 points! This is a full 75 percent drop from more than 6,100 points a year ago, and the stock market has fallen back to near the starting point of the bull market a year ago." In contrast, the current copper price of more than 53,000 yuan is still at a high level compared with the copper price of 20,000 yuan or 30,000 yuan three or four years ago. Now that the copper price has broken down, if the bulls do not stop the loss, they are afraid that they will lose more in the future. ”

"You mean that the price of copper will fall to 20,000 yuan?"

"That's not true, but the possibility of falling below 50,000 yuan is very high. ”

"That's right, today's drop limit has bankrupted many bulls. ”

Li Xin felt that there was something in Yuan Jie's words, so he asked with interest, "Why do you say that?"

Yuan Jie said: "You don't know, as soon as the market opened this morning, many of our company's customers who do futures copper have already liquidated their positions. Our company's salesman was busy calling them to add funds, otherwise, the position would be forced to close by 9:20. ”

"Are there many people who have additional funds to raise their positions?" asked Li Xin with interest.

"There are a few options to increase your capital, and most people still choose to stop out of the market. And guess what?"

"What's wrong?"

"After the opening of the afternoon market, these additional funds had to hang all their positions on the down limit to sell and close their positions. ”

Li Xin asked puzzledly: "It's all been up to this point, and I have added funds, why do you have to sell it on the falling limit in the afternoon?"

Yuan Jie said: "During this period of time, the copper price fluctuated greatly, and the proportion of margin was relatively high, and today the price hit the fall limit, so when the settlement was done after the close of the market today, the margin ratio almost doubled. Therefore, at 1:30 p.m., the bulls who added funds had to hang those positions that they were unwilling to close in the morning on the down limit, and sell them at the price of the down limit to close their positions. Fortunately, the fall limit was opened around 1:40, and those sell orders they hung on the fall limit were filled, otherwise as soon as the market opened tomorrow morning, if the price continued to fall sharply, their losses would be even greater. At that point, even if they are unwilling to close the position, we will force the stop loss. ”

Hearing Yuan Jie say this, Li Xin suddenly realized: "I'll just say, after the fall limit was opened at about 1:40, the price was immediately beaten down by a wave of surging selling orders as soon as it was pulled up." It turned out that after the price hit the fall limit, the significant increase in the margin ratio detonated more long positions!"

"That's right, so you see that the fall limit was opened three or four times in the afternoon, but each time it was beaten down by a huge selling order, that is, the fall limit appeared and triggered more bullish liquidation. The few customers of our company who left the market with a stop loss on the afternoon limit now have a feeling of the aftermath of the disaster, and they think that it is a blessing to be able to escape from the fall limit today, and the price is likely to continue to plummet in the next few days. ”

Li Xin also said with feeling: "Today's trend, not to mention that the bulls can't hold it, even I, the bear, are extremely nervous." Several times, I was worried that the price would rise quickly after the limit was opened, and I moved the idea of closing the position and leaving the market. ”

"Then why didn't you close the position?"

"Alas, I struggled for a long time, and when I saw that the selling orders were more fierce than the waves, I finally held back. ”

"I also think that the short order can continue to be taken for a while, after this drop limit comes out, there should be a lot of space below. ”

Li Xin smiled: "Even you think there is still room to fall, so the possibility of falling below 50,000 yuan is even greater." ”

"Are you hurting me? or are you praising me?"

"Hehe, don't lose or boast, I'm telling the truth, this shows that there are more and more bearish people, doesn't it?"

"It's a good thing for you, it's getting closer and closer to your goal. ”

"Good thing, good thing, it's better to settle the battle this week, these months have been too difficult. ”

"You now have a profit of 140 million yuan, and it's worth all your hard work. ”

At this moment, Yu Hong walked to the door and knocked on the door and said, "Li Xin, the chairman called you to a meeting." ”

Li Xin heard this and hurriedly said into the phone: "I have something to do now, let's talk about it another day." ”

After he hung up the phone, he raised his head and asked Yu Hong, "What's the matter?"

"The chairman told you to go over now for a meeting, in a small conference room. ”

"Oh. Li Xin hurriedly put his mobile phone in his pocket and went out to the small conference room.

Li Xin entered the small conference room and saw that Xue Chenzhi was sitting in the first place, and there were four or five people sitting on his left and right sides. It was clear that this was a meeting of the management of the group company, and it seemed that they had been discussing it for a while.

Seeing this situation, Li Xin suddenly remembered that at about 2 o'clock in the afternoon, there seemed to be people passing by in the corridor in front of the door one after another, which was more lively than usual, and it turned out that these people were going to the small conference room for a meeting.

Li Xin, who was called in the middle of the meeting, didn't know anything about the topic of the meeting, and when he entered the door, no one at the conference table was speaking, as if he was waiting for someone.

As soon as Li Xin found a place to sit down at the far end of the conference table, he heard Xue Chenzhi ask, "Li Xin, tell me about your views on copper prices." ”

Hearing what he said, Li Xin secretly said to himself in his heart: "Sure enough, this is still the case, they asked themselves to come in to participate in such a meeting, and they will not talk about anything other than asking the price." ”

Today's trend in copper prices is undoubtedly a blow to Xue Chenzhi.

Not long ago, when he talked to Huang Hongliang and Zheng Guorui, Zheng Guorui suggested that he sell the new mine, at that time the copper price was still more than 57,000 yuan, and now the copper price has fallen by more than 4,000 yuan.

At that time, Xue Chenzhi had all kinds of worries in his heart, and he excused himself and said that the matter could only be decided after the group management held a meeting to study it. But after that, he did not hold a meeting to discuss this matter, because in his opinion, the price of copper has fallen very low, and there is not much room for it to continue to fall.

But contrary to his wishes, the price of copper did not rise from a low level as he thought, but went lower and lower, especially today there was a falling limit. Such an outcome indicates that copper prices are likely to continue to fall in the future.

If this is the case, then the new mine in hand really can't be kept, otherwise the loss in the future may be even greater.

In desperation, he had to ask Jiang Hua, the director of the office, to convene a meeting of the group's management members to study this issue.

However, after more than half an hour of discussion at the meeting, a consensus could not be formed. The reason for this is that the participants do not have a unified view on the future trend of copper prices, some people feel that copper prices are already very low in this position, maybe they will rise immediately, and some people think that copper prices will continue to fall.

Among those who believe that copper prices are close to the bottom, some people may really think that copper prices are relatively low and the probability of rising in the future is relatively high, but more people are taking copper prices at a low level to say that they are avoiding their clear opinions on the issue of selling new mines.

There are a few people who think that copper prices will continue to fall, and Zheng Guorui is one of the representatives, and the other is Xue Chenzhi.

Zheng Guorui clearly suggested selling the new mine so that the group could get rid of this heavy burden as soon as possible.

Xue Chenzhi also felt that the trend of copper prices was a little bad at this time, but in his position, he didn't dare to express his opinions easily before everyone's opinions were expressed.

The vast majority of people who feel that copper prices are already at the bottom and do not recommend selling new mines, Jiang Hua is a representative among them.