Chapter 29 Investing in New York Gold Futures4
On Thursday, gold continued to rise in volume, once rushing to $147.1. By the end of the afternoon, it was at $146.9 an ounce. It rose by $0.5 throughout the day. Compared with Wednesday, the trading volume increased by 80%.
Friday morning's financial news continued to trumpet comments that the price of gold would continue to rise, and TV and newspaper magazines showed all kinds of big gods pouring out of the platform, and the scene became more lively, tempting ordinary investors to step up.
Friday's gold trend continued Thursday's massive rally, reaching as high as $147.8. At the close, it closed at $147.5 an ounce. It rose by $0.6 throughout the day. Compared with Wednesday, the trading volume increased by 150%.
Andrew, on the other hand, closed all his long positions at $147.6 an ounce on Friday afternoon.
So far, the situation of the futures account of the fund company is: 21,000 short orders + $7 million of funds, a floating loss of $7 million, a total investment of $35 million, a 20% floating loss.
The situation of successfully investing in the company's futures account is: 63,000 short positions + $99 million of funds, a floating loss of $20 million, a total investment of $150 million, a floating loss of 13.5%.
The futures accounts of the 10 shadow companies are $9.5 million each. The total investment is 75 million US dollars, and the profit is 20 million US dollars.
On Sunday night, Mr. Henry in Hong Kong called Andrew to inform him that the Hong Kong stock market had withdrawn $90 million from the Hong Kong stock market this week.
On November 20, Andrew was in New York for his fourth week.
On Monday morning, Andrew arranged two sets of operational strategies for today. At present, the futures accounts of 10 shadow companies have $12.5 million in funds, with $12 million as margin, financing $180 million, and before the morning, at a price of more than $147.6 per ounce, the whole position bought 120,000 long-term short orders.
The market opened on Monday and continued to rise in volume, and at 10 o'clock, the price of gold rose to $148 an ounce. Andrew arranged a $7 million margin for the fund company, raised $105 million, and at 10 a.m., at a price of $147.9 per ounce, he traded 7,000 lots to buy medium- and long-term short orders.
Successfully invested in the company's futures account, with $150 million as margin, financing $2.25 billion, at 10 a.m., at a price of $147.8 per ounce, the transaction bought 150,000 lots, medium and long-term short orders.
At midday, the price of gold held steady at $147.8 an ounce.
The operators of the second group sent a message at noon. On average, at a price of 147.8 US dollars / ounce, 120,000 lots were bought in the medium and long term.
In the afternoon, Andrew, who had completed the operation plan, became a spectator. In the afternoon, the price trend of gold has been around $147.8 per ounce and closed at $147.8 per ounce. Compared with last Wednesday, the trading volume increased by 300%.
Gold prices rose by $0.3 an ounce throughout the day.
Andrew calculated the trading volume for four days from last Wednesday to this Monday, and found that the main bulls' chip holdings were 90% closed and transferred. In this way, it seems that the price of gold will reverse to the downside on Tuesday.
Sure enough, on Tuesday morning, the price of gold remained around $147.8 per ounce despite the long buying of many ordinary investors. However, before the end of the afternoon, the bulls' main chips ran out, and some turned short buying, and the price of gold began to decline slightly, closing at $147.6 per ounce in the afternoon. Gold prices fell by $0.2 per ounce throughout the day.
Wednesday morning's financial news commentary saw this as a reversal of some of the early profits, causing gold prices to fall slightly on Tuesday.
When the profit-taking is over, gold prices will rise again. The current correction stage is a good time for investors to buy more.
"What a consideration for the majority of investors!"
On Wednesday, the price of gold was in a slight downward trend throughout the day, closing at $147.3 an ounce in the afternoon. Gold prices fell by $0.3 per ounce throughout the day.
Gold prices remained in a slight downward trend throughout the day on Thursday, closing the afternoon at $147 an ounce. Barely holding the $147 mark. Gold prices fell by $0.3 per ounce throughout the day.
On Friday morning, the price of gold was still at $146.9 an ounce, which was up and down. But before the afternoon close, the main bears began to exert force, pushing the price of gold to $146.5 per ounce in one fell swoop, and finally closed at $146.4 per ounce. It fell by $0.6 per ounce throughout the day.
It fell by $1.1 per ounce for three consecutive days.
The fund company currently holds 28,000 short positions. The price of gold fell by $1.1 per ounce, which means that the floating loss of the fund company fell by $3 million.
The successful investment company now holds 213,000 short positions. The price of gold fell by $1.1 per ounce, which meant that the floating loss of the investment company reversed, and the floating profit was $13 million.
10 shadow companies are now holding 120,000 short positions. The price of gold fell by $1.1 per ounce, resulting in a floating profit of $13 million.
After that, there was a two-day weekend break, and Andrew and a group of operators could finally take a relaxing break this weekend.
The financial news commentary over the weekend is calming the confidence of the majority of investors, and the three consecutive days of decline are still believed to be caused by profit-taking. After three days of downward revisions, gold prices will consolidate slightly, setting the stage for even bigger gains in the future.
And in Andrew's forecast, in November, there are four more trading days. It's going to be time for the empty hair to be strong. Gold prices will quickly enter a downward channel.
This week, the Hong Kong stock market continued to improve, with the Hang Seng Index rising momentum, volume amplification, and the withdrawal of $120 million.
On Monday, November 27, the Futures Exchange opened. Andrew arranged for $120 million to be transferred out of Hong Kong, with $4 million transferred into each shadow company's account. Andrew asked the two groups to raise $60 million each at a price of $146.3 per ounce after the market opened to buy 4,000 long-term short orders.
And the account of the successful investment company transferred $80 million.
Gold prices gradually stabilized after the market opened, after a slight reduction of $0.1. Andrew used $80 million as a margin, raised $1.2 billion, and bought 80,000 long-term short orders at a price of $146.3 per ounce.
In the morning, the price of gold also returned to $146.5 an ounce, up $0.1.
But after 2 o'clock in the afternoon, the main force of the bears exerted their strength again, and several million short orders were hung out in a row, so that the gold trend immediately reversed downward, back to 146.4 US dollars / ounce.
To the dismay of ordinary investors, in the following trading hours, the bears were mainly rampant, and the bulls were weak to resist. Gold prices continued to decline, closing at $145.2 an ounce by the end of the afternoon. It fell by $1.2 per ounce throughout the day.
Charlie and Jardine's operators panicked. They invested a total of $600 million and raised $9 billion. The position is 600,000 long orders, and the average price is 146.5 US dollars / ounce. Yesterday, it was still a slight loss, but today the price of gold fell by $1.2 per ounce. Then the floating loss amount becomes much larger. A floating loss of more than 70 million US dollars!
In this regard, Charlie and Jardine's operators have different opinions on the follow-up operation.
Charlie believes that the position should be closed immediately. Finally, after communicating with the Jardine Matheson headquarters in Hong Kong, they made a decision to reserve the position until the close of tomorrow's market, and then determine the follow-up operation. Jardine Matheson headquarters in Hong Kong will prepare another $200 million to inject into the futures account in New York.
At the opening of the market on Tuesday, the main force of the bears was frequently short, and the price of gold continued to decline rapidly, and the bulls were simply unable to resist. By the end of the afternoon, it was at $143.1 an ounce. It fell by $2.1 per ounce throughout the day.
Charlie and Jardine's operators, looking at such a result, were all dumbfounded, with a look of loss and godlessness. A floating loss of 120 million!
It was Charlie, after calming down, who directly contacted the Jardine Matheson headquarters in Hong Kong to explain the huge losses he was now facing.
And strongly demanded that the long position be closed immediately and converted into a short position. Under such a reversal operation, there is the possibility of reversing the loss.
In the end, the Jardine Matheson headquarters in Hong Kong agreed with Charlie's operational strategy. and transfer the next $200 million prepared to the futures account.
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