Goldman Sachs Group Investment, Manhattan, New York, USA

Mai Gao Jackson plans to see what kind of money can be tossed by this private placement that opened an account in the business department of Goldman Sachs Securities, and he had bought 10 million shares of Saturn cars around $5, but the stock price seemed to have encountered a spell. After rising to the position of 5.450, the cash-out profit orders continue to appear, and the trading frequency of major brokerages on the Saturn car stock has increased greatly, but the stock price has slowly begun to fall, just a little effort, has fallen from 5.450 to 5.250 position, since Maigao-Jackson does not plan to smash the market himself, then simply, it is also crooked to cut a handful of wool of securities financing and private placement.

With the 20 million shares of Saturn Auto stock on the Goldman Sachs account after the stock lending out, the Saturn Auto sell-off increased sharply, 30 million shares were traded within half an hour, and the stock price quickly fell to the price of $4.50, from 5.250 to 4.50 This range of the swarming buying and the same swarming selling to the tip of the needle, due to the two consecutive days of excessive gains, the idea of falling into the pocket is obviously a good choice in the eyes of most short-term funds and institutions.

"Inform traders to start buying 20 million shares now at a price of no more than $5.5!" Mai Gao-Jackson showed a cruel smile on his lips, the so-called wool of the shearers is to quickly pull the stock price back above the other party's selling price after the other party sells off the stock, the average trading price of 30 million shares in the first half hour is $4.835 per share, and the on-site return of Goldman Sachs traders shows that the selling of 20 million shares comes from the big private equity lender, this Nima is the side dish sent to the door, as long as Merrill Lynch's new stock account does not reduce its holdings on a large scale, the vice president of Goldman Sachs Investment feels that today is his victory day.

"Boss, will you be too anxious, the average transaction price of the 10 million shares we bought before is high, and I feel that above $5 is a market vane, and the buying is enthusiastic when it falls, and it is enthusiastic to sell when it rises......" Senna, the senior manager of the investment department, reminded his immediate boss in a whisper, but Mai Gao-Jackson grinned, "Do you know what it means to force short?" We have to eat all the chips below $5, and don't give the opponent a chance to pick up the chips below $5, as long as Merrill Lynch doesn't do it, today's market is completely under my control! ”

The assistant quickly placed a buy order for the 20 million shares of the vice president of Goldman Sachs Investment, and within a minute, the Goldman Sachs traders in the market began to execute this large-scale purchase plan. At the end of the market, the stock price of Saturn Motors soared from the $4.50 line almost at a 90-degree vertical angle, but obviously there was really no sell-off below $5, so the stock price rose to $5.25 before hitting a large-scale sell-off, but obviously the number of sell-offs was not as good as before, so when the 20 million buy orders were all traded, the stock price of Saturn Motors stayed at $5.750 per share, and the entire market was shocked by the momentum of today's most bullish Goldman Sachs!

"Boss, the sales department has another big customer who asks for shares of Saturn Automobile, and this time they want to borrow 30 million shares! It still looks like a private placement registered in the Cayman Islands, but the credit account margin exceeds 60 million US dollars, and it should be no problem if it is a securities lending......" The voice of the delicate female assistant in this report is obviously much bolder, and the 20 million securities trading just now and the current stock price show that the Goldman Sachs Investment Department has made a lot of money under the personal operation of Boss, although it is a bit of a bit to make money from its own customers, isn't it ripe? So what to do, anyway, the opponent's handicap on the opponent's side is not visible yet......

"The lamb sent to the door, if you don't slaughter it, how can you be worthy of the title of vice president of Goldman Sachs investment on my head? I wish they could continue to lend securities! "Maigao-Jackson just borrowed 20 million shares and made a lot of money, and now there are shorts who don't know whether they are alive or dead and want to borrow and sell short from themselves to do it against themselves? Isn't this Nima the guy who sent him to find the dead!

"Promise them to borrow and lend securities, notify the sales department, and now have the shares of Saturn Auto in the account, as long as someone wants to borrow and sell short, they will be promised to them!" The vice president of Goldman Sachs Investment felt that he was now the god who controlled the life and death of the short, and Senna, the senior manager on the side, couldn't help but remind, "Boss, if the shares of Saturn Auto are all borrowed and released, we will have no chips to sell short at a high price and cash out......

"What are you afraid of, people from us to lend securities for short selling, not to hold in their hands as a shareholder, the other party short selling, the stock price will fall, we just eat back at a low level, are you still afraid that there are no chips in hand? Pig brains! Mai Gao Jackson glanced at his assistant dissatisfied, and felt that his decision not to promote the other party to the manager of the investment department was obviously very wise, how could this mind and courage replace himself to lead the investment department to do a good job of self-management?!

Soon, the 30 million shares of Saturn Motors in Cayman Island's private placement appeared in the seller's shout, of course, the scene of Goldman Sachs' own two traders matching transactions on the New York Stock Exchange trading floor also made the red vests of other brokerages around them amazed, everyone didn't know what drugs were sold in Goldman Sachs' gourd, and they bought and sold their own while buying together, so why bother to trade publicly on the trading floor?

In fact, don't say it, because Mai Gao-Jackson did not give his own traders on the floor to buy at a low price after continuing to lend 30 million shares, the traders in charge of the Goldman Sachs business department really had to openly bid and put the selling order on the trading center to shout, and the first 10 million shares were quickly picked up by the buyers on the market. The stock price fell from 5.750 to 5.525, and after the stock price rebounded slightly to 5.575, the stock price swarmed, adding up to 35 million shares and pushing the stock price all the way to 5.125.

At this time, Maigao Jackson woke up like a dream and ordered a sweep to pull the stock price up, but it was obviously a bit sad, because there were not enough chips above. The average trading price of 35 million shares was 5.450 before, and when the large-scale buying of Goldman Sachs' proprietary account swept up from the position of 5.150, the stock price was pulled to the price of 5.875 at a 90-degree angle again, but the transaction was scarce and only 5 million shares of chips were copied back, and the average transaction price was as high as 5.650......

"Boss, there is no selling above, we don't have enough chips to eat, what should we do now?" Senna had a very uneasy premonition in his heart, thinking that the self-operated property of the investment department of Goldman Sachs did not cut into empty wool today, but put itself into it? Now Goldman Sachs has bought 110 million shares of Saturn Auto stocks, with an average holding cost of $4.750, although the book profit is extremely impressive, but it is obviously a little lacking in the opponent's position, and the securities lending has gone out 50 million shares of chips to let the short seller all sell short at 5.350, and if you want to shear the other party's wool, you have to force the other party to close the position at a higher price of 5.5, the problem is that the other party is not in a hurry to close the position at all......

"What is the average price of the other party's two short sells?!" Maigo-Jackson turned his head and asked a group of Goldman Sachs investment assistants,

"Boss, after we borrowed 20 million shares for the first time, The average transaction price of 30 million shares of Saturn cars traded in the market is $4.875, just now we borrowed 30 million shares for the second time, and the average transaction price of 35 million shares of Saturn cars traded in the market is $5.325, we bought a total of 45 million shares of Saturn cars today, the average cost is 5.275, US dollars, if the cost is amortized with the 65 million shares bought yesterday, the average cost of the 110 million shares of Saturn cars we currently hold is 4.750, and the floating profit on the book is 23.68%, of course, if we can sell all the deals at the current price, then we can settle down! ”

The answer of the beautiful female assistant made the people in the investment department of Goldman Sachs mixed, the book floating profit of 23.68% is of course a great achievement, the problem is that today's market transactions and changes hands are too large, and the largest short Merrill Lynch Securities is not moving, Goldman Sachs's proprietary market is obviously in a dilemma after becoming the largest bull, a bit of a dilemma does not know whether to continue to pull up the stock price, or just sell short above $5 to cash out, I know that I should not lend securities to customers, The 50 million shares borrowed out of the stock were called private placement Shun lì cashed out above $5, but Goldman Sachs' own holding cost soared from $4 to $4.750, and the average transaction price of the 45 million shares bought today was as high as $5.275......

"Boss, I think we have to control the position, it's almost time to start reducing the position, Merrill Lynch sold at least 100 million yesterday, although their trading seats are bought and sold very frequently today, but the trading volume is not large, and the total is less than 20 million shares, I dare to say that the other party basically did not continue to reduce its holdings today, will it be waiting for us to pull up the stock price Merrill Lynch Securities to sit in a sedan chair?! At that time, the cost of people is $3 per share, and our cost is $4.750 per share, no matter how fast we fight short, we can't match the ...... of our opponents."

Before Senna's words fell, the beautiful female assistant below covered the microphone and reported again, "Boss, the sales department has a major customer borrowing and lending 30 million shares of Saturn Automobile just now, if we want to sell, we have to do it before the other party sells it......"

In the U.S. securities market, the transaction priority of the brokerage's proprietary orders at the same price is ranked after the customer, so if Goldman Sachs' customers and Goldman Sachs proprietary orders grab the runway to sell or buy, Goldman Sachs' proprietary orders will suffer losses anyway, and they will have to wait for the other party to close before it is their turn, or they will suffer losses at the price to grab their customers!

"Throw? Of course not? I think clearly, the task of suppressing stock prices can Merrill Lynch do it, and the other party doesn't know that we are borrowing and lending, and they think that today's buying and selling are all our Goldman Sachs singing to themselves, and the risk of going short is now all customers who borrow and sell short securities, what are we afraid of? Waiting to see the show! "Mygo-Jackson's decision came as a big surprise.