On Tuesday, November 8, early in the morning, Lei Hao, accompanied by Qin Yu, came to Qingyu Futures Company and met the investment team members assigned to him for the first time. Pen, fun, pavilion www. biquge。 info

Xiao Peijie, thirty-seven years old, fund manager, to be precise, is the new fund manager, as a newcomer, he has no objection to Lei Hao coming to do the emperor's thing.

Chen Xizhi, 38 years old, senior investment consultant, bachelor's degree in agricultural university, master's degree in finance, Ph.D. in agricultural futures research, published some papers.

Pan Zhengchao, thirty-one years old, trader, in the financial circle, and the year of establishment is the most golden age for traders.

There are a few other team members, but most of the work they are responsible for is not very important, almost all of them are hands-on, Lei Hao just remembered the name, and he was already very face-saving.

When Xiao Peijie and the others saw Lei Hao, their eyes also flashed with an inquiring look, after a day of fermentation, they all knew that Lei Hao received a lot of money from Qingyu, and they also knew that this matter was decided by President Qin Yu willingly.

"As we all know, from the beginning of the research department's perception that cotton futures have investment prospects, the target has been tracked and analyzed for two months, and everyone here is the company's selected elite, as for Mr. Lei, ......" Qin Yu answered next to him.

When talking about Lei Hao, Qin Yu showed a bright smile: "Mr. Lei's achievements are the best in China this year, even if they are placed on the world financial history, they can also get a place, and we have reason to believe that the prospects of the project team are bright." ”

"No matter what you need, analysis reports, other companies' position data, the status of traders, possible changes in policies, or even more funds and more manpower, Qingyu Investment can give it." Qin Yu continued.

"Papapa...... Xiao Peijie and the others began to applaud, Qin Yu's words gave them a reassurance, if Lei Hao has the ability to be as famous as he is, this investment will definitely have a bright future.

"I'm Lei Hao, and in the next period of time, we will have frequent contact, and I hope that everyone can work together to create profits for the project and get more benefits for themselves." Lei Hao stood on the rostrum, and the experience of this time allowed him to maintain confidence even in the face of this group of people who can be called elites in the industry.

"Next, I want to know your views and suggestions for the market." Lei Hao said it briefly, and then shifted his gaze to Xiao Peijie and Chen Xizhi.

Thunder Investment has not tried to do the medium and long-term for the time being, Lei Hao is actually the first time that the big girl has been on the sedan chair, but the investment field is ever-changing, what is there to find fund managers and investment consultants, these two people control the resources given by the company and the operation of the team.

"I'll talk about it first." Chen Xizhi stood up first, took out a stack of documents, distributed them to everyone present, and said: "Since the beginning of the previous year, the price of cotton has fallen significantly, which has made many textile enterprises start to hedge more often. ”

"But in the second half of the year, cotton prices picked up, but we found an interesting place, look here......"

"The open interest has increased from 200,000 to 300,000 lots, the hedging position has increased from tens of thousands to 110,000 lots, and 33% is hedging positions, that is, the speculative nature of the market seems to have decreased."

"In fact, according to the survey, we found that the hedging positions of textile companies are high-leverage, and their margin ratio is between 10% and 20%, most of which are more than 10 percent, that is, if the price of cotton futures rises, they will be forced to close their positions, that is, ...... Step on! ”

There was a faint inhalation sound in the conference room, and the stampede in the securities market was a very terrifying thing, such as short liquidation, how to force liquidation? To reverse the long position to close the position, this gives the underlying security more upward momentum, and a vicious circle is created.

Lei Hao also understood what Chen Xizhi meant, as long as the futures price is pushed to a certain point, there is no pressure on the bulls to close their positions, and profits will appear.

10% price? Amplified leverage is about 50% to 100% of the return, half a year or a year, which ...... The smell of blood is strong.

Chen Xizhi told this passage, and then stopped, and everyone in the conference room began to flip through the documents, looking at the data in them, and sketching out possible market changes in their minds.

This is an objective analysis, and then Xiao Peijie's speech is more from the subjective will of market participants.

"From the policy point of view, cotton prices have fallen, cotton planting area has decreased, and the textile and garment industry accounts for about 13% of China's export trade, about 12% of employment, and cotton is also a strategic reserve material ......"

"Considering all the factors, we believe that the country has at least a tacit attitude towards rising cotton prices and promoting better development of cotton planting."

"Where there are profits, there are funds to promote, most of China's agricultural futures are in 159 months as the main contract, this year's cotton 09 market rose slightly, cotton harvest, warehouse receipts are expected to increase, the mainstream of the market generally believes that the next cotton price will fall, textile enterprises to do hedging willingness is also relatively strong, but ......"

"We can see that the open interest of cotton futures contracts in January next year is increasing, and the price is ...... In a small rise! ”

"Traders have stockpiled goods and entered the futures market, futures companies are increasing their positions, funds do not continue to wait and see, but begin to accelerate the inflow, the increase in trading volume, but also represents more frequent participation of both long and short sides."

"To sum up, we believe that the price of the cotton futures contract is going to rise, or rather, the probability of it rising is higher than the probability of falling."

People in the financial circle look at the problem differently from the industry, textile enterprises feel that the cotton harvest, so the price of cotton is going to fall, but the people in the financial circle analyze the possibility of rising prices from various clues, which is a bit interesting.

Is it the financial circle to teach textile companies to be people, or the textile companies to educate this group of capital predators in turn?

In fact, Lei Hao also knows that some people are shorting, and even there is more room for decline than upside, but from these analysis reports and from a longer-term time span, the price of cotton futures is actually more likely to rise.

There was silence in the conference room again, Chen Xizhi and Xiao Peijie finished speaking, and then it was completely Lei Hao's time.

In everyone's opinion, the project team has just been established, Lei Hao must be doing some prospects, pouring some chicken soup, and the big guys will return to work, and then analyze for a period of time, and then choose the time to enter the market layout.

Lei Hao originally planned to do the same, but he had already changed his plan last night, according to his instructions, Thunder Investment has begun to open a position in the cotton futures contract in January next year, the new project side......

"Let's buy some futures contracts for May next year, 1,000 lots." Lei Hao said.

The conference room suddenly heard a pin drop. (To be continued.) )