The business meeting room on the sixth floor of the Hilton Hotel has no windows, but it looks bright when the lights are fully on.

In the depressing atmosphere, Zheng Fan looked at the information unhurriedly, and did not care about the temptation of Liu Ping and others.

"Mr. Zheng just mentioned putting it down, do you have any plans?" Wang Daiping, the CEO of Junan Securities, asked sensitively.

"What can I plan, in the domestic policy market, even institutional investors can only go with the flow, but fortunately, the transaction margin is based on the amount of positions, and the implementation of segmented management methods is fair to all parties." Zheng Fan took a puff of cigarette and wiped his eyelids.

"What does Mr. Zheng mean is that he doesn't want to block the Dalian Futures Exchange, and this policy to be released?" Liu Ping asked in surprise.

"The expansion of the plywood October contract is so large, it is obvious to everyone, it is normal to be pressured by the policy, not to mention that the high-level has to crack down on speculation, to maintain the consideration of the market, even if the release of the policy can be prevented, it will inevitably be caught by people, but the gains outweigh the losses, follow the internal laws of the market, is the only way out." Zheng Fan took a puff of his cigarette and said with a smile.

"To tell the truth, we should be able to borrow 800 million funds by taking advantage of the two-day rest day, but once the policy is released, the margin is under heavy pressure, and the 800 million funds are not to mention maintaining the disk, and even the gap in supplementing the margin is a drop in the bucket." Wei Dong finally couldn't bear it anymore and handed over the truth.

"I really don't know what you're worried about, I know that it is very difficult for everyone to increase the policy, but in the harsh environment, the main force of the air side is even more uncomfortable, they are already in danger, and now they are hit by the policy increase, which is like the last straw that crushes the camel." Zheng Fan was in the ashtray, pressing the cigarette butt out as if it was a sign of something.

"Once the policy comes out, we will also have to make up the margin." Liu Ping thought it was quite decent.

"Complete? How do you make it up? Because of the relationship between a large number of positions, the overall margin will be greatly increased, such a policy funding gap, is simply a bottomless pit, if everyone has a strong strength to make up the margin, I believe it will not sit here, so concerned about this problem. Zheng Fan said with a playful smile.

"We want to know, what do you think about this." Liu Ping obviously wants to learn from experience.

"The policy increase is out, that is also to the descendants to speak, we have a large number of positions, should be seen as a legacy of the problem, if it is me, can not make up the margin, only to put up, play scoundrels a way to go, out of the policy does not matter, as long as the Dalian Exchange acquiesces, to everyone some time limit to replenish the margin, there will be enough room for maneuver." Zheng Fan's statement is really amazing.

"Even if it's a policy, don't you want to follow it?" Liu Ping didn't expect that there would be a rogue method for policy.

"Mr. Liu, if everyone here can't take out the money to supplement the margin, and stand in front of the exchange to taste it with your life, do you dare to ask for it? The reason is very simple, the main capacity of all parties in the field is limited, not to take it, but really can't take it, and the internal environment of the market is already very fragile, all parties hold such a heavy position, even if they can't make up the margin, the exchange can't be liquidated, just imagine, if Sinoma Group is liquidated because it can't make up the margin, what kind of chain reaction will the market have? That would create a terrible systemic risk, and not only the exchanges, but also the higher-ups could not afford to take this responsibility. Zheng Fan said with a calm smile.

"Don't you refuse or cater to the policy?"

Wei Dong was like seeing the sun through the clouds, revealing a look of surprise.

"The policy must be catered for, but the terms that are unfavorable to us must remain implicitly resistant, I believe that no institution, entering the market is to send money to others, all want to put a little more in their pockets, to pay out of the money, can be delayed, wait until this time after the liquidation of the still want to play, next time it is too late to make such a heavy margin." Zheng Fan looked scheming.

"Just tell the Dalian Futures Exchange, can't we afford to pay for it?" Liu Ping also smiled.

"Mr. Liu, I have to say, you are still too decent, I think Mr. He is smiling so despicably, can you tell Mr. Liu what to say?" Zheng Fan teased the man in the short jacket.

"Stabilize the Dalian Futures Exchange, saying that it will actively raise funds to replenish the margin, so that they can give them more time to raise funds, and by the way, cry and cry poor, indicating that even if the situation is difficult, they will resolutely support the new policies introduced. He Ming said that later, he laughed at everyone.

"Do you buy and sell with a hammer and stop doing it after closing the position?"

Liu Ping realized at this time that Rainbow Investment expanded its position so much because Zheng Fan had the idea of making a lot of money and then not doing it anymore.

"After this occupation war, has hurt the vitality of plywood futures, the soil is desertified, if you do not transfer the place, even if you work hard to fertilize, for a long time, you can not grow good crops, simply bulk commodity trading, not only plywood futures." Zheng Fan yawned and smiled.

"If you can retire, you can naturally have a variety of choices, the key is that you are afraid that you can't retreat, once the price falls at the opening of next Monday, we will all be finished." Although he found an idea to deal with the policy increase, Wei Dong still couldn't help but worry about the market trend.

"We are not management, there is no need to discuss whether it is right or wrong to raise the margin significantly, as long as we pay attention to this policy, what impact will it have on the market when it comes out in this position, and the same policy, in different positions, the interpretation of the market will be very different." Zheng Fan looked like an outsider, without the slightest hint of worry.

"Because the main force of the short side is large, now the plywood October contract, was pressed below 39 yuan, which has deviated from the intrinsic value of the market, in the context of increasing infrastructure construction in China, the real estate operating rate is very high, the demand for plywood is also very strong, even if the plywood manufacturers have increased sharply in recent years, the release of production capacity has reached a peak, the results of our research, the intrinsic value of plywood, can also be supported between 42 and 43 yuan, the impact of Indonesian boards are counted, and it will not change this judgment." Sun Weimin, the CEO of COSCO Trading, seemed very confident.

"This is not the end, the management strictly controls speculation, but the speculators who really do not count the market value to smash the market, but not us, but the main institution of the short side, once the policy is increased, the party that violates the laws of market operation will be hit hard, and now the plywood October contract, but at the bottom of the state." Zheng Fan looked at the information in his hand with a slightly strange expression.

"Just tell me how to do it, right?"

He Ming felt that Zheng Fan was very angry with him.

"If there is public opinion to create momentum, it would be better, speaking of plywood futures, there has been no research report for a while, everyone here today, in the capital market are pivotal leaders, don't be too lazy, as the so-called word gold, all kinds of comments and research to get up, now is the time to reflect industry leadership, and the direction of value investment." Zheng Fan put down the information of Zhongshen Group and smiled at the bigwigs.

"Now that I have choked the throat of the main force of the empty side, if you follow what you said, wouldn't it be one-sided? Didn't you say before that management doesn't want to see systemic risk? Wang Daiping, the boss of Junan Securities, asked Zheng Fan with a smile.

"Now the expansion of the market seems to be huge, but the real position, but most of the main positions, want to smoothly cash out the profits, counting on a small scatter is definitely not good, only the short side of the main liquidation, long institutions can perfectly return funds, if the market can open slightly higher next Monday, the serial bomb will soon be detonated." Zheng Fan had an indifferent look, and it seemed that he would not have any impact on the overall situation if he did not issue a research and comment report.

In fact, as early as the first time she killed Shen Yan, Zheng Fan had already thought that once the market rose next week, her position that no one could make a decision on would be the first to be liquidated by MultiBank Futures.

"As long as you think in one place, and make efforts in one place, the victory will definitely be ours, if the margin call can drag on for a few days, the 800 million funds we have raised can be operated in separate positions to ensure that the trend of the market next Monday will develop in our favor." Wei Dong has realized at this moment that next Monday's morning is the time to decide the moment of life and death.

"At this time, the main force of the short side, has been like a frightened bird, once the policy comes out, there is no need for us to manipulate the market, watching them love and kill each other is also very good, I don't want the market to rise sharply at the beginning, only with a blunt knife to cut the meat of the main force of the short side, in order to maximize our interests." From sitting in the conference room, Zheng Fan's various statements kept the bigwigs in a state of shock.

"It's always good to be prepared, the key is to guard against the main force of the short side, a desperate counterattack, you know that we have financial reserves on our side. I want to know, how high can you see the so-called profit maximization? Liu Ping finally showed a reassuring smile.

"Starting from next week, the curtain of the multi-party counteroffensive will be opened, that is to say, to the performance period of the market's multi-party turmoil, the conservative estimate is that it should not be a big problem to pull four price limits in a row, but it must not be too fast at the beginning, if the management is aware of the market risk, this feast may be terminated in advance, to leave a way for over-the-counter funds to enter the market, our institutions in the field can not move, over-the-counter funds for the understanding of the policy, will largely determine the trend of the market." Zheng Fan smiled and said to Liu Ping and the others.

"Mr. Zheng said well, now the plywood market is at the bottom, once the policy is introduced, it will definitely be recognized by the market as bullish, especially the entry of multi-party hedgers, it will consolidate the foundation of the market rise, if the market first rises moderately, and then a few days in the acceleration of the start, I believe that not only the main force of the bears can not cope, even the management is caught off guard." Yan Song, the CEO of Shenyin Securities, attaches great importance to Zheng Fan's statement.

(The second one was sent, thanks to Brother Calm's eight red envelopes.) ）

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