From the perspective of capital, there is no shortage of total currency in the market now, but in order to stabilize the currency exchange rate, the renminbi flows to the central bank, and because of this sign, the securities market is slightly optimistic, so it absorbs a large amount of funds.

On the whole, in fact, the market is waiting for the central bank to release funds, which has started since the official action to stabilize the exchange rate.

What needs to be paid attention to is how and where the funds will be released.

There is no shortage of total amounts, short-term structural imbalances, it is impossible to cut the reserve requirement ratio and interest rates, and the financial circle is speculating on reverse repo, and then use this reason to push up the index, and the Shanghai Stock Exchange Index is rising upward, which is the source of this.

Wang Nuo saw two words: greed.

The index is too high, which means that financial capital has opened its greedy mouth and still wants official feeding? What are you kidding?

What financial regulators want to consider now is to control risks.

At 3,700 points, the securities market still has the need for blood transfusion to maintain stability, and at 3,800 points, the risk increases suddenly, if it is 3,900 points, or even 4,000 points, the central bank will do not blood transfusion, but blood drawing.

Whether the 4,000-point era is allowed or not, others in the financial circle may have doubts, but Wang Nuo can get the answer from the variable of honest pen cuts: absolutely impossible.

On Friday, July 13, the Shanghai Stock Exchange Index broke 3,800 points.

The nerves in the financial markets were tensed all of a sudden.

"Reverse repurchase is round after round, what will be the initial period? 50 billion, how much is the period, 7 days, 14 days?" After a week, Wang Nuo has perfected his analysis conclusion, and now it happens to be at the stage of frequent variables.

"According to the official urine nature, according to the information that Wanli and Huapu have now, the funds are definitely not released at one time, combined with the release direction signal of the funds, the first round of reverse repurchase by the regulator is in ...... Warning?"

"It is impossible to have only one round of reverse repo, and the short-term funding gap is as high as two or three hundred billion, which is exactly the same as the funds in the hands of the central bank, and all these money flows to the bank, that is, ...... The securities market has ignored the regulator's warnings?"

"Before and after the first round of reverse repos came out, it should be bullish. Wang Nuo rubbed his forehead, looked at the beating of the data and the amount of money in the account, and thought quietly.

The CSI 300 is now 3805 points, Wang Nuo's position is 3690 when he buys 47 cards, 3713 times 2 pieces, 3727 times 1 piece, 3735 times 3 pieces, and the profit figure is 1763100 yuan.

The profit of 1,763,100 yuan, plus the principal of 5.3 million yuan, the amount in the account is 7,063,100 yuan.

Holding 53 contracts, each with a face value of 1,141,500 yuan, a total face value of 60,499,500 yuan, and a minimum margin of 6,049,950 yuan, that is, the amount that has not been locked is still 1,013,150 yuan.

1,013,150 yuan, 114,150 yuan per contract can be bought, that is, you can buy 8 tickets, and then the remaining amount that is not locked will be 99,950 yuan.

If you hold 61 contracts at 300 yuan per point, and the account is less than 100,000 yuan, and the CSI 300 dares to fall by 6 points, Wang Nuo will be forced to close one contract immediately.

This is the futures market.

"But I'm bullish, 8 contracts come in, and I earn 15% more. Wang Nuo calculated the account again, and then thought about the profit in the account, he did not hesitate: "Profit has to consume 60% of the corresponding energy, the risk is different from others, and it is a bit too conservative to dare to buy." ”

Without any further hesitation, Wang Nuo directly pushed the position to 61 full at the end of the day, and the next second, the stock market closed.

Ye Yaohua had been standing behind Wang Nuo, and when he saw Wang Nuo's operation, he was already numb.

was always scared to pee, Ye Yaohua felt that he came to Wang Nuo's side not to exercise his trading skills, but to exercise his bladder.

This is speculation in futures, how can anyone directly enter the market with a full position, and then change the contract if there is a little profit, and continue to change the contract if there is a little profit, and it has been maintaining a full position, which is simply making trouble.

What makes Ye Yaohua's egg hurt is that as long as the market falls, Wang Nuo will be forced to reduce his position, but the index is very stable, when it falls slightly, the reserved funds in Wang Nuo's account are just in a state of sufficient support, and when it enters a large or small upward channel, Wang Nuo can also pile up the snowball before that.

Fools don't believe it, Ye Yaohua, who has a tough bladder, thinks that this is a comprehensive embodiment of strength and courage.

Ye Yaohua just followed Tao Keren's arrangement and passed on the information.

Shanghai Market, Huapu Fund, Research Department, Conference Room.

Tao Keren, who was in a meeting with many analysts in the department, felt that his mobile phone was vibrating, and when his subordinates were not paying attention, he quietly took it out and looked at it, and his face changed slightly.

"Add another position, this kid ......" Tao Keren shook his head, also a little numb.

"The short-term structural imbalance of the capital side, and the central bank's blood transfusion to the market is a high probability event. ”

"Not necessarily, the exchange rate is very stable, the official attitude is tough, domestic inflation is seen as high to a certain extent, and the specific situation still depends on the foreign exchange market. ”

"That's right, as long as the funds flow back and the extra yuan in the hands of the central bank is exchanged, the regulator will definitely let the market adjust itself. ”

"How to exchange, how to exchange, how much to exchange? With so many currencies, even if the funds in the international market want to come back, we must ask the central bank if they are willing to do so. ”

"Stock market indices are already inflated. ”

"There's room for upside. ”

There was a lot of noise in the conference room, Tao Keren had a headache, Huapu Fund is indeed very powerful, but the internal competition is also very fierce, just the research department, every time the market changes, this is a small battlefield.

For this situation, Tao Keren also has a wealth of experience in dealing with it, which is nothing more than waiting.

There is no right or wrong in financial analysis, only probability, and Tao Keren and a group of analysts in the conference room knew very well that they would be arguing until new information arrived.

"It depends on the foreign exchange market. Tao Keren thought silently in his heart: "I hope that kid won't even be able to cross the first hurdle." ”

Wang Nuo sat in the office of the charitable foundation, and he also knew very well where his current victory and defeat were reflected: "It depends on the foreign exchange market!"

If the international market continues to wait and see, the People's Bank of China will definitely have to make adjustments and scatter the money in its hands back to the domestic market.

The timing is also very delicate, it happens to be Friday afternoon, but it is Friday morning on the European side, and it is still Friday early morning on the American side, and the international currency market will end the week of trading in the early morning of Saturday Chinese time.

Wang Nuo knew this, so he didn't bother to stay at the foundation, went back to the research institute to solve the work, and Meizizi had dinner and watched a movie with Tao Xiu, silently waiting for the changes in the market.

In the early hours of Saturday morning, there was no need to wait for the American market to close, and the calm market made the news on the Chinese side, the value of the RMB continued to be under pressure, and the central bank had no international funds in its hands to take over, and the situation of blood transfusion to the domestic market by itself had been determined.

In the first half, Wang Nuo won very thoroughly, but in the second half, his views were contrary to most people, and the time came to be tested.