Chapter Ninety-Five: Revenge Rise
Zhong Shi was 80% sure that he could determine the market trend for the next day, and he already had a vague understanding of the bulls' strategy, so after the end of the operation, he asked Andrew to join the long position of 2000 hands again at the current price, and he himself added 1000 long positions.
As he expected, on Monday, May 23, copper futures opened from $2,210 and fell again shortly after the opening, because the bears saw room to suppress copper futures on the previous trading day, and they took it for granted that they could close their positions at a low level, for which they raised a lot of money over the weekend.
Bears can raise funds, bulls can naturally raise funds, after the current copper fell to $2190, it met a strong resistance from the bulls, the bears struggled here for a long time, still no way to break this bottom line, as time went by, the bears' minds gradually began to change, and they also realized that the weak rise of the bulls in the previous trading day was a strategy to attract them not to leave the market.
As soon as the bulls realized that the bears had the intention of leaving the market, they immediately began to rapidly raise the price of copper futures, pulling the price of copper futures to above $2,200 in a very short period of time, and then several large buy orders were thrown out one after another, pulling the price of copper futures to $2,240 in a very short period of time.
Seeing the price of copper futures soaring, the follow-up market quickly changed its attitude of viewing, and couldn't wait to enter the market to build a long position.
The price of copper futures started from $2,240 and directly broke through several small integer thresholds such as 2,250, 2,260 and 2,270 all the way. The rally, which has been rising all day, has become unstoppable. At this time, the bears have no way to stop the rise of the entire market, and their most practical goal is to prevent the price of copper futures from rising to $2,300.
"Zhong Sheng, we have made a fortune!" When Andrew's call arrived in the United States, Zhong Shi was resting, believing that the day's market should be going in the direction he predicted. Sure enough, when Andrew's news came, he just hummed lightly.
Seeing that Zhong Shi was not so excited, Andrew was a little depressed, but he quickly adjusted his mood. Fawningly, he asked Zhong Shi, "Now our 2,000 long positions have earned more than $3 million. And the floating profit is still further expanding, should you continue to hold it? β
Zhong Shi, who woke up Andrew, was very unhappy, but it was not good to dampen Andrew's enthusiasm at this time, so he could only frown and say very unhappily: "I have earned so much." Still greedy? β
In Zhong Shi's opinion. With a principal of more than 10 million US dollars, he made a profit of nearly 30% in just one day. This is already a shocking achievement.
Hearing Zhong Shi say this, Andrew understood that this was to let him close the position. Although he was reluctant, Andrew firmly carried out Zhongshi's order and began to close his positions in the market.
β¦β¦
"Hamanaka-san, there is a large amount of flat positions in the market, and the number of hands is about 1,000 hands, are we suspending the pull-up?" In Sumitomo Trading's London department, traders keep an eye on the changes in the market, and when Andrew's closing order appears, they are keenly aware of it.
"1000 lots? That's a lot of numbers! Yasuo Hamanaka frowned, and said with some unhappiness, "I hate this kind of thing that I like to accept when I see it, almost every transaction is to cut a part of the profit from me, Baga!" β
After he scolded hatefully, he immediately ordered: "Eat them all, our goal is not these small funds that follow the trend, but those options shorts, today's goal is to let them see how powerful we are, and let them know the bottom line we give them!" β
In the past two days, the main force in the copper futures market is Yasuo Hamanaka and his Sumitomo Trading, originally according to their jihua, during this period of time they slowly bear the pressure of the bears, take the opportunity to open more opponents, and wait until a certain stage to suddenly pull up the copper futures, so that the options shorts have to leave the market at a higher price.
Previously, between the first Wednesday and the third Wednesday of May, they tacitly agreed with another bull in the market to pull up copper, so that the options bears suffered a big loss quietly, but they were not satisfied. So far, only some options shorts have chosen to leave the market, and most of the options shorts and the original shorts still have the illusion that they can suppress the price of copper futures to a low level.
However, the huge long liquidation order that appeared out of thin air in the last trading day almost exposed their jihua, and after paying a part of the price, they reluctantly left their options short in the market, and they had to pull up the price of copper futures frantically today for safety reasons.
βhaodeοΌβ Yasuo Hamanaka's order was immediately carried out by the traders.
Yasuo Hamanaka, who was holding a cigar, hid his face in the curling green smoke, which gradually blurred. At this time, he was very angry in his heart, so yesterday's long liquidation order exposed his trading jihua, so that his jihua had to be carried out in advance, and he attributed this part of the sell-off to the long shili who pulled up the copper with him some time ago, and completely forgot that this long shili made a lot of effort in the process of pulling up the copper.
What he didn't know was that the bullish shili that appeared yesterday was another fund, not the quantum fund that had been pulling up the price of copper with him, but the quantum fund did not enter the market in the past two days out of long-term trading plans, which made Zhong Shi and his funds drill a small loophole.
More than 1,000 hands of the closing order made the rising copper prices began to slow down, but then the bulls entered the market, with a strong attitude to take over the bulls' closing orders, for a time the number of more trading hands continued to expand, the trend saw that at the $2270 position, the bulls are still taking over, which strengthened their confidence in doing long.
The price of copper futures slowed down twice at 2270, 2280 and other positions, but the closing order was still taken over by the main force of the bulls, and the price has reached the position of $2300, and the market was turbulent for a while, and many investors shouted in their hearts, hoping that the main force of the bulls could make persistent efforts to pull the price up to $2300.
However, at the beginning of $2290, the bears began to continue to open new positions, the momentum of rising copper prices was forcefully suppressed, and the two sides fought fiercely at various prices from $2290 to $2300, almost not giving an inch, and in this process, the followers felt the pressure from above, and began to close the previously established long positions in small quantities, so that the bulls added some pressure out of thin air.
However, Yasuo Hamanaka is not an easy person, he took the long market with a tougher attitude, and opened more long positions, and the intraday copper price was infinitely close to $2,300, and finally the price of copper futures stayed at $2,298 under the resistance of the bears at all costs. (To be continued......)
PS: Time is a little rushed, there are only 2000 words today, everyone look at it first~