Next.

Due to the three consecutive daily limits of red beans, according to the rules of the exchange, all positions in red beans 9602 contracts were forced to be liquidated.

Rules for liquidation.

When the short position is closed at the price of

If there is no transaction on the same day, as long as there is a buy order for closing the position on the third price limit, the exchange is responsible for finding the most profitable long position and forcing the settlement to close the position according to the price limit of the day.

The same goes for long positions.

This is a form of protection.

The first is to protect the relevant futures company from losing too badly, and the second is to protect the party that fails to die too badly.

Because according to the trading rules, the funds of the customer's liquidation liabilities need to be advanced by the futures company for the time being.

The subsequent liabilities to the client shall be owned by the futures company.

In the forced liquidation of the exchange's administrative intervention, the open interest on the red bean 9602 contract fell sharply.

But it also means that it is time for the bulls to reap the fruits of victory.

Afternoon closing.

The four main forces of the bulls gathered together.

In addition to celebrating this big victory, they are also discussing the next move.

Forced liquidation does not mean that the position will be liquidated, with the current trend of red beans, there is still a lot of room for growth in the future.

As long as it is done properly, it is not a problem to pull the price to six or seven thousand.

Now the bears in the market are rumoring one by one.

Whether it is a spot dealer or a retail investor, it is like a remnant of the army who has been killed.

Even the three bearish bosses have been killed, and these bears will inevitably become frightened birds.

In this case, as long as there is a slight change in the market, you can kill those who dare to short again.

Wei Zexi and his gang did not have a good stubble.

This kind of opportunity to take advantage of victory and pursue will not be missed.

"Later, we will keep the price around 4500 for a while, and then slowly clean up when new shorts come in. ”

"Now, the bears inside are estimated to be dead, and it is estimated that they will have to be raised for a few days. ”

"Don't worry, the market will never be short of fresh blood, and after rising so much, those who should be short are still short. ”

Suddenly, Wei Zexi proposed.

"Why don't we dig another pit, first throw a wave of spot in our hands, suppress the market, and then wash the retail investors inside by the way?"

Futures are bilateral transactions, as long as there is enough funds, it is completely possible to kill the short and the long.

The method that Wei Zexi said can be said to be a very good method.

As long as you use the spot in your hand to impact a wave of the market, you can smash the price again.

Now the bulls inside are in full swing.

As long as you smash it, you can smash a series of people who follow the trend and do long.

Those stragglers were joined by several main forces, and it was a no-brainer to destroy them.

With the current control of the spot market by the four joints, if you want to impact the market, you only need to smash out tens of thousands of tons of spot at a low price.

It can scatter the price impact of the spot market.

Coupled with their positions in the futures market, these guys can completely control the rise and fall of the price of adzuki beans.

Spot in hand, and there are a large number of positions on futures.

That's not just killing the bulls if you want to kill the bulls, and killing the bears if you want to kill the bears.

Kill the bears and kill the bulls, and cut the opponent and teammates.

If you want to go short, you only need to hit the market with spot, open a few more positions on the short side, and then close a part of the long position in your hand, and you can kill the long position in all directions.

When the bulls are almost gone, you can continue to collect spot and go long.

Under Zhao Jiangchuan's lock-up tricks, it was like a new world of making money for the other three.

With the funds in the hands of a few people, you can do whatever you want in the market.

"Xiao Wei is right, as long as our four brothers join forces, then the entire capital market will not be the world of the four of us. ”

"Haha..... Lao Tang is right, brothers work together to break gold, this future world must be our world. ”

The huge gain on red beans made Wei Zexi, Ye Tan and Tang Wannian full of spirits.

It's just that they didn't notice it, and Zhao Jiangchuan's eyes were somewhat disapproving.

For this guy, China is not the soil for the growth of capital at all.

If they dare to keep playing like this, they will be destroyed sooner or later.

No matter how powerful the means, no matter how huge the funds.

If someone wants to destroy them, it's not a matter of minutes.

It's too fat, but it's a pig.

Pigs can be slaughtered at any time for the New Year.

It only takes three or five big characters to turn them into ashes.

However, Zhao Jiangchuan didn't say anything, these guys were on the rise, and there was no need to spoil their interest.

"The first time our four brothers joined forces, we won the first time, why don't we take a group photo to commemorate it? ”

"Okay, what Lao Tang said makes sense, when we have to be windy and rainy in the future, we will look back at today, what a scenery it is. ”

“…….”

At Tang Wannian's suggestion, Wei Zexi really ran to get a camera.

This made Zhao Jiangchuan feel extremely weird.

He really didn't expect that the major heroes of the domestic market in the future would gather together on this day.

I didn't expect that one day I would go to the same line with these guys.

It's just that everyone's interest is high now, and Zhao Jiangchuan is really not good at opening his mouth to stir up the situation.

He could feel that at this moment, the words of these people were from the bottom of his heart.

The smile on Ye Tan's face, Tang Wannian's eyes narrowed with laughter, and Wei Zexi's undisguised enthusiasm.

There is no intrigue, no conspiracy and calculation.

Some are just comrades-in-arms who have fought together, and some are only the most sincere and sincere.

It's kind of ridiculous.

But Zhao Jiangchuan couldn't help but show a smile on his face.

This feeling is actually quite good.

"Miss Ouyang, can you take a photo for us?"

"Okay!"

Ouyang Lan took the camera handed over by Wei Zexi and began to play the role of a photographer.

Polaroid, a fool's way of operating.

Zhao Jiangchuan and Wei Zexi are young and in the middle. Tang Wannian and Ye Tan, who were older, were on one side.

When the four of them were in a pose, Ouyang Lan shouted.

"Remember to call me eggplant later. ”

The little secretary's words amused the others endlessly.

But I nodded in agreement.

"Eggplant. ”

"Eggplant!"

"Click. ”

Ouyang Lan pressed the shutter in her hand.

In the flash, time seems to be frozen in the frame.

After filming four chapters in a row, Wei Zexi began to coax.

"Jiang Chuan, don't you take a picture with Miss Ouyang?"

"yes, you two have one too. ”

Zhao Jiangchuan was not pretentious, he took Ouyang Lan into his arms domineeringly.

Ouyang Lan was infinitely shy, and she was very embarrassed to be teased by so many people in public.

But after being embraced by Zhao Jiangchuan, she blushed like the quietest cat.

That wide embrace made her infinitely nostalgic.

"Click. ”

After the flashing lights, the photo of the two was saved.

"One more, this time I'm going to kiss it. ”

"Kiss, kiss..."

"Haha..."

In the coaxing of everyone, Zhao Jiangchuan was unequivocal, hugged Ouyang Lan who wanted to run and kissed him.

"Click. ”

"Haha...."

The liquidation of the exchange is a harvest day for the bulls.

But for the bears, the liquidation is the early New Year for the bulls, who act as pig-like leeks and are slaughtered.

Including the main bears and hedging spot dealers.

Zhou Xiaobing is a native of Hubei.

In the early years, he was a second-tier dealer in the purchase of miscellaneous grains.

Drive a tricycle around the countryside to harvest peanuts, corn, sesame seeds, peppers, soybeans and other agricultural chores.

With his diligence and ability to drill camps, Zhou Xiaobing's business is booming.

In addition, people are bold and dare to play with fake scales and drop the goods.

Over the past few years, Zhou Xiaobing's business has become bigger and bigger.

A big business is not as good as going to the countryside to fool those peasants, and it is necessary to pay attention to a reputation.

So later, Zhou Xiaobing changed his ways and turned to the right, and Zheng'er Bajing opened a miscellaneous procurement station.

When he was young, he traveled east and west, so that Zhou Xiaobing met a lot of business friends, and with this connection, Zhou Xiaobing's agricultural miscellaneous procurement station opened very smoothly.

The amount of grain is relatively large, looking at a pound and a few cents, but it can't stand tens of thousands of tons of goods.

After a long period of exploration, Zhou Xiaobing cut down corn and peanuts, which occupy a lot of capital.

Specializing in the red bean business.

Only by being single-minded can you make a reputation.

Sure enough, Zhou Xiaobing's approach was correct.

A few years later, Zhou Xiaobing became the largest adzuki bean trader in central China.

But business is a mouthful of honey and a mouthful of.

No one knows if the price will go up or down.

Receiving and pressing goods, the price rises and naturally makes money, but when the market is bad, the one accidentally has to put the old book in.

By chance, Zhou Xiaobing heard that something called futures could avoid losses caused by falling prices.

After gaining an in-depth understanding of futures hedging, Zhou Xiaobing made an attempt.

When I tried it, it was really like that.

As long as the price is up to make money, you can lock in the profit through futures.

This is simply for spot dealers.

The price has fallen, and it is possible to make money on futures.

When the price rises, the spot in hand can be delivered, or it can be sold at a high price to hedge the loss on the futures.

No matter how you calculate it, it's a sure profit.

With the hedging tool of futures, Zhou Xiaobing no longer has the previous concerns.

This year, he collected more than 30,000 tons of spot.

It's just that Zhou Xiaobing didn't expect that the price of red beans this year has plummeted.

Since the beginning of the year, it has been falling all the way.

But fortunately, Zhou Xiaobing made a short position in futures early to prevent risks.

So, there's not much to lose.

Even when the price of red beans fell to two thousand, Zhou Xiaobing did not lose any money.

This made Zhou Xiaobing secretly happy in his heart.

The decline in prices has caused many spot traders to suffer huge losses.

After the capital chain is broken, some spot traders have to sell the goods they received at a high price at a low price.

Some even had to close their doors because they lost money.

Not every spot dealer understands finance, and there are very few people who have heard of such a new thing as futures.

Those who do not have hedging positions can only lose money as the price plummets all the way.

There are few competitors, which is naturally a good thing for a person who does business.

But Zhou Xiaobing never thought that he had complete risk defense measures, and in the end, he could not avoid the fate of bankruptcy.

At the end of November, Zhou Xiaobing opened 10,000 short orders on futures to hedge the spot in his hand.

Everything is as before.

But since the last few days of December, the futures market has suddenly changed dramatically.

It didn't take long for the crazy price to skyrocket.

But that's okay, futures are rising, and prices in the spot market are rising in tandem.

When the delivery period arrives, Zhou Xiaobing will still be able to make money after the registered warehouse receipts in his hand are delivered in accordance with the rules of the exchange.

However, Zhou Xiaobing's plan fell through.

Around New Year's Day, the price of the futures market suddenly skyrocketed.

In just a few trading days, the price of 9602, the main futures force, has risen from 3,000 yuan a ton to 4,577 yuan a ton.

Up to 50 percent increase.

In such a violent rally, Zhou Xiaobing's position on futures was out of position.

Not only did he lose all of his 35 million in deposits, but he also lost nearly 70 million in debt.

In the futures contract, Zhou Xiaobing suffered a huge loss of more than 100 million.

But this was only the beginning of the nightmare.

After the three-board limit, Zhou Xiaobing's positions in futures were all liquidated.

However, on the second day of being closed, the Red Bean 9602 contract was two consecutive down limits.

A surge is bound to be followed by a crash.

Everybody knows that.

But this has nothing to do with Zhou Xiaobing.

In addition to losing 35 million in principal, he still owes 70 million to the futures company.

Because his position has been closed.

What made Zhou Xiaobing even more devastated was that in the spot market, the price of red beans also plummeted.

In just a few days, the price of red beans dropped from 4,300 yuan to 2,900 yuan a ton.

Zhou Xiaobing went bankrupt.

In just over a month, he lost all his net worth.

Not only that, but he also owes 70 million debts to the futures company.

The only thing left by Zhou Xiaobing is 30,000 tons of spot in various warehouses.

But for Zhou Xiaobing, it no longer makes sense.

Of the 30,000 tons of goods, the current market price is more than 80 million.

One-third of the more than 80 million spot payments are on credit.

Even if all the spot is cleared, it will not be enough to repay the arrears of the futures company.

"Lingling..."

The mobile phone in Zhou Xiaobing's pocket was ringing.

He took out his phone in a daze and pressed the call button.

"Hello Mr. Zhou, I am Mo Congming, the manager of South China Futures Company, due to your account number 1233214 the position on the Hongxiaodou 9602 contract has been denied.

"Bang...."

Zhou Xiaobing indifferently threw his phone on the ground.

Nokia's mobile phone is of very good quality, even if it is thrown to the ground by Zhou Xiaobing, you can still hear the sound from the mobile phone.

"Please replenish the sufficient security deposit within seventy-two hours, in accordance with the terms of the contract you have signed...... Hey, Mr. Zhou, are you listening? Hey, hey. If you do not make up the security deposit, we will have the right to sue you. Hey, Mr. Zhou...."

Sue me.

Hehe...

Zhou Xiaobing stood on the sixteenth floor of the Exchange Building and smiled, then took a few steps to the edge of the balcony.

"Hey, hey... Mr. Zhou, Mr. Zhou, are you listening? ”

The cold wind blowing upstairs was biting chill.

It's just that no matter how biting the chill is, it can't withstand the coldness in Zhou Xiaobing's heart.

Zhou Xiaobing had only one idea.

He's done.

What he's worked hard all his life for, it's all over.

The feeling of falling from heaven to the clouds made Zhou Xiaobing full of despair.

Zhou Xiaobing closed his eyes.

Seeing no hope, he leapt down into the vast sky.

"Mr. Zhou... Mr. Zhou...."

On the rooftop, the Nokia phone was still ringing.

But there will be no more Mr. Zhou in this world.

。 m.