Manhattan, New York, USA, Goldman Sachs Headquarters Building, Investment Department

"Hell! What's going on? Why did General Motors' stock price rise instead of falling? Goldman Sachs investment vice president Mai Gao Jackson's face is quite ugly, in the morning he made a decision to continue to short General Motors stocks, eating a belly of chips above $50, all by backhand short low position to continue to spread out the cost, which makes the Goldman Sachs investment department exclusive fund not so ugly on the books, but a morning smashed out no less than 3 million shares of General Motors chips, the stock price rose instead, how can people not be angry? !

"Boss, if you want me to say that we are still too conservative, 18 million shares smashed out can definitely smash the stock price to $40, only 3 million shares were sold in the morning, of course, it is not enough, Merrill Lynch traders sell short every time they throw millions of shares, and wave after wave of continuous throwing people don't know how many chips have not been smashed down......" Ike Libin, senior manager of the investment department, wiped the sweat from his forehead, Goldman Sachs has emerged in investment banking, However, compared with Merrill Lynch, which has deep pockets and no rules to do things, Goldman Sachs does not have any advantage in buying and selling stocks in the secondary market.

"What do you mean to keep smashing? Merrill Lynch didn't buy and sell much in the morning, are you sure that the other party's funds are tight and have no stamina? Jackson was very dissatisfied with Libin's table, in the morning he was going to buy the bottom, but Libin said that taking advantage of Merrill Lynch because of the underwriting of Saturn new shares and the opportunity of the capital cut-off, should be hard to smash the stock price down, the 18 million shares in his hand but occupy more than 80% of the self-operated liquidity of Goldman Sachs Investment Department, pull up is obviously powerless, can only short cash is the best choice!

"Obviously, Boss, UAW gave Merrill Lynch Securities 37 million shares of General Motors stock in his hand, this is a sword of Damocles, which can be poured on our heads at any time, at this time, don't we hurry up and sell short, do we have a chance to sell the other party's 37 million shares? ! I dare to say that this morning Morgan Stanley is also desperately selling, the volume is a little less than last week, we sold 3 million shares, Morgan Stanley also sold at least 2.8 million shares! ”

Libin knew that his boss was temperamental and not good to serve, but there was no turning back from the bow, to say that he should not have gone to General Motors in the first place, he ate a belly of chips above 50 US dollars and thought that 50 US dollars was the floor price, who would have thought that he could plummet all the way to 47 US dollars, this situation is more resolute than who is short selling, of course, Goldman Sachs and Morgan Stanley have not many stocks in their hands that can be used for securities borrowing and selling, and the proprietary stocks bought from the market are all genuine stocks, not from large and small shareholders. The advantage is that you don't need to bear the cost and pressure of securities lending, and the disadvantage is that when you need to sell short, the stock price can't be smashed without bullets in your hand!

"Good! Then continue to throw and tell the traders on the floor to pay special attention to the movements of Merrill Lynch traders! Jackson gritted his teeth and made a decision, Nima's matter was really disturbing, not only delayed eating, but also affected the mood of eating, after instructing Libin to continue to stare at the plate, Jackson left the office to go to the restaurant downstairs for lunch, but I didn't expect that when he came back, it would be half an hour of effort, Libin, the former senior manager of the investment department of the computer terminal, cried with a sad face, and the market actually had a dramatic reversal, and the stock price of General Motors actually ran above $48!

"Huh? What's going on? Didn't you say that you would continue to sell, why did the stock price go up instead?" Jackson thought that Libin had not carried out his previous decision, and his angry face was so blue that he was almost ready to scold!

"Boss, things aren't going well...... Just half an hour ago, I smashed out 5 million shares in one go, and the stock price did fall below $47...... Could it be that Morgan Stanley and Solomon Brothers are tearing down our corners? Although Merrill Lynch ate some of the chips we tossed, it was less than 1 million shares in one morning, and the rest was all eaten by the accounts of Morgan Stanley and Salomon Brothers! ”

"How many shares do we have left? 10 million shares? Throw me all over $48, I don't believe it, if Merrill Lynch doesn't do it against us, it must be because of insufficient funds and there is a disconnection, Morgan Stanley and Salomon Brothers want to take advantage of us? I'll see if the two of them can eat these 10 million shares! Jackson intuitively thought that the other party was tempting more, so he gritted his teeth and decided to smash all the chips in his hand!

Libin picked up the phone and gave a sell-off order to the Goldman Sachs traders in the market, "Short sell 10 million shares of General Motors, 1 million shares in the first wave, 2 million shares in the second wave in 5 minutes, 3 million shares in the third wave in 10 minutes, and sell the last 4 million shares in 15 minutes!" ”

GM's tick line on the market screen finally turned down with the big sell-off of Goldman Sachs' account, The first wave of 1 million shares smashed the stock price from $48.125 to $47.750, and then rebounded to the price of $47.925, and the second wave of 2 million shares sold directly from 47.925 to $47.125, while the volume was amplified, the selling of the trend began to swarm out, and when Goldman Sachs traders threw the third wave of 3 million shares, the average transaction price had fallen to $45.525, and when the fourth wave of 4 million shares of General Motors shares was smashed out, the stop loss of the stop-loss order was triggered, and the stock price dived below $45 and $44 to fall to 43$575, while the half-day trading volume has reached 32 million shares!

"Haha, how's that, I'm right, right? How did Morgan Stanley and Brother Solomon eat it, and how did they spit it out for me! Merrill Lynch has not moved, don't worry about it first, wait for the stock price to fall below $43 and start to sweep the stock at a low level to eat the chips back! Before Jackson's words fell, GM's stock price had begun to rebound under the control of an invisible hand, and a single buy order of 10 million shares directly pulled the stock price from the lowest level of $43.125 to $48, leaving all the people who sold short and stopped losses that day stunned!

Then it seemed that there was a long and short fight, although Goldman Sachs, who had run out of bullets, could only watch from the sidelines, but Morgan Stanley and Salomon Brothers, who were originally trapped and suffered a big loss, jointly smashed 15 million shares of General Motors stock in half an hour, and re-suppressed the stock price to $42, just when Jackson and Libin were still struggling with whether to backhand Morgan Stanley and Salomon Brothers at this price. Merrill Lynch's second single buying order of 10 million shares was like an electrocardiogram, pulling the stock price of General Motors from $42 to $49 in one go!

GM's stock price closed at $49.775 that day, with a full-day turnover of 58 million shares, Goldman Sachs lost $5 per share because it sold 18 million shares of GM shares at a low price, Morgan Stanley lost $3 per share, Salomon Brothers lost $2.8 per share, and Jiang Yelin's G3 fund ate 40 million shares of GM shares in a single day, with an average trading price of $44, and GM's stock price of $49.775 at the close means that the G3 fund reaped a floating profit of $230 million in a single day!

What's more critical is that Goldman Sachs, Morgan Stanley and Salomon Brothers failed to sell short, while generating huge actual losses, they could not continue to suppress the stock price because they could not finance the shares of General Motors.

After the close of the day, representatives of Goldman Sachs, Morgan Stanley and Solomon tried to donate their previous suspicions and held an emergency meeting in a private setting. Don't tell me any about insider trading in stock prices, the problem now is that either everyone will twist into a rope and knock Merrill Lynch down, or they will break up and don't have the ability to take the porcelain work of diamond diamonds! ”

Mai Gao Jackson pounded the table with a domineering face that was almost scolding, and Nick Lewis, vice president of investment at Morgan Stanley, pouted and said, "I don't know which bastard smashed the plate first, Nima said that the united front would clean up Merrill Lynch, why did Goldman Sachs rush to ship it in the morning?" If it weren't for Mason and I desperately carrying it, you would think that your 18 million shares would be taken by retail investors?! ”

"Nick is right, this matter, first of all, a series of reactions caused by Goldman Sachs' brutality, Nima lost $45 million in my proprietary trading in one trading day, what do you tell me to do now? The chips are all in the hands of Merrill Lynch, and you can't find anything that can be smashed if you want to smash the plate! Mason Aikman sneered, pointing the finger at the vice president of Goldman Sachs Investments, who started it!

"Bastard, my investment department lost $90 million on a trading day today, why don't you follow me and wait for the stock price to rebound before selling? I dare to say that if the stock price falls to $43, the nearly 20 million shares in your hands will definitely cause a diving storm, and Merrill Lynch will definitely not have so much money to bear! It's because both ends of your first rat are like selling short at a high price to get a good price, so that's why it's like this! "Jackson is full of words, as if whoever loses the most is the biggest victim, and who occupies the commanding heights of justice!

"Doesn't it mean that Merrill Lynch Securities spent 2.7 billion yuan on underwriting Saturn Motors, I dare to say that Merrill Lynch Securities has eaten at least 35 million to 40 million shares of chips today, where are they with such a large amount of funds?!" Nick Lewis smuttered off the subject, saying that an actual loss of $54 million in one trading day was quite a negative performance for him, the vice president of investment.

"You have to figure out the details of the other party, and you have to stretch your eyeliner and tentacles into the office and bed of that wonder boy at Merrill Lynch!" Mai Gao Jackson's mention yì makes people's eyes light up!