Despite the end of the transaction, many suspense left for the market remains unresolved, such as who released the false news in the intraday, how big the bears are, and so on.

But in any case, it is an indisputable fact that Volkswagen Group's shares have skyrocketed. Correspondingly, the shares of the Porsche Group also rose by more than 20 percent on this day, indicating strong expectations for the successful acquisition of the Volkswagen Group by the Porsche Group.

As for the bears, they simply don't have time to reflect on day trading, and the stock price has risen much more than most people expected, at this time they can only desperately raise cash in the hope that tomorrow's last trading day will be able to buy enough chips to close their positions, after all, they have only a short night of time.

Some laughed, some sighed, and some wept. From Johannesburg in South Africa to Oslo in Norway, from Los Angeles on the west coast of the United States to Tokyo in the Far East, as long as the Volkswagen Group and Porsche are involved in the acquisition, they are not immune.

On the second trading day, this kind of "appearance of all beings" reached its peak due to the soaring price of the Volkswagen Group, and even its influence was no longer limited to Frankfurt and Europe, and even the U.S. stock market on the other side of the ocean did not escape this wave of impact.

On October 28, the last trading day for the delivery of October futures indices, options, etc., all relevant trading instruments will be stopped and delivered tomorrow, which means that there is only one day left for shorts to close their positions.

As soon as the Frankfurt market opened, all the focus was on the shares of the Volkswagen Group and the Porsche Group. Due to the sharp rise in the stock price of the Volkswagen Group yesterday, the German DAX index, which had been falling for a long time, miraculously turned red and turned green. This situation attracted the attention of other stock investors in the market, so it was natural that investors' attention was focused on these two stocks.

What's more, even before the opening of the market, a lot of long orders for index futures were placed, looking forward to making a profit in this wave of market.

"Do we have the cash available?"

Financial Street, London. Blavin. Trading floor of Howard & Co., Alan A. Howard asked his traders with a tired look on his face with a pair of large dark circles under his eyes. Looking at the look on his face, you know that he must have had a hard time last night.

"That's it, I borrowed a whole 3 billion euros of short-term loans, borrowed at LIBOR rates." Adrian, who is in charge of funding. Hilton said quickly. Finally, he explained, "Secured by our shares in British government bonds, German government bonds, and HSBC." ”

"Well done, Adrian!" Allan. Howard took a sip of coffee, barely refreshed, then nodded, and casually complimented, "We closed some of our positions yesterday, as long as we can close them all today, it's completely done." ”

"Close the position at such a price?"

Adrian. Hilton was shocked. Originally Blevin. Howard shorted only about 1 billion euros in the Volkswagen Group. But yesterday this part of the position has been lost, although the total position of about 6% of the position has been closed, but the earlier preparation of 1.5 billion euros has been fully invested. Now Alan. Howard has prepared an additional 3 billion euros, so wouldn't the price of closing the position ......

For a time, Adrian. Hilton didn't dare to think about it any further.

"Be prepared!"

Allan. Howard said lightly and looked at Adrian. Hilton's expression added, "Maybe it's not enough." Of course, this is only an extreme case. ”

Adrian. Hilton was silent.

The truth is exactly like Allen. As Howard expected, the opening of the market was extremely unfavorable to the bulls. Volkswagen Group's share price continued to rise like a wild weed, and in just half an hour, it broke through the 600 euro mark, a figure that stunned the entire market.

From 160 euros at the opening yesterday to 600 euros today, the Volkswagen Group in just over a trading day. It has risen by more than 275%, which is still extremely rare even in the history of world securities. What's worse is that there is still no end in sight to the rally.

The bear's heart is dripping blood, but there is no way but to throw money into it one by one. Hopefully, you'll be able to grab some of the few chips you have.

€600, €650, €700...... In the frenzy of the whole market, the Volkswagen Group's share price rose until 1,000 euros per share, and then it came to a halt.

This is not only the reason why the bulls are reluctant to sell, but also because of the final madness of the bears in the entire market, although the fund managers are desperately raising the price, but still can't buy the chips they need, all they can do is to raise the price more frantically, hoping to meet the expectations of the bulls.

In the process of this game, they know very well that the more the price rises, the more serious the psychology of the bulls is reluctant to sell. But for the bears, there is simply no choice.

In the whole soaring process, the market value of the Volkswagen Group has risen all the way, and when it approached 1,000 euros per share, the market value of the Volkswagen Group has risen to 390 billion euros, successfully surpassing the United States Mobil Oil Company and becoming the world's largest listed company by market capitalization.

The market was in an uproar.

"It's over 1,000 euros!"

At this time, at the Frankfurt headquarters of the Quantum Fund, all the traders were dejected, and the atmosphere of yesterday was completely lost. Half of the price gouging in the market is caused by them. It was only when the Volkswagen Group's share price jumped above 800 euros that they stopped this crazy behavior. But the momentum has been achieved, and even if they stop, the remaining bears will not be able to stop, and they can only increase the price one by one until 1,000 euros per share.

"What are we going to do?"

Rodney. Jones had long since lost his assertion and was just walking around the trading floor. When the price finally broke through 1,000 euros, he stomped his foot and pushed open the door to Soros's office.

"George, we have to do something. Otherwise, if it goes on like this, we can only watch the losses expand step by step, and if it goes on like this, we will be finished! Jones almost screamed, he was very anxious, on the verge of losing his temper.

"Yesterday I them. Today is their revenge. ”

Soros sat on the sofa chair, looked at the computer screen in front of him, and calmly analyzed, "For the entire bulls, they are already very clear about the situation of long shorts, and this is due to me." In fact, if you don't play that one. We couldn't buy that many chips. ”

"What's the use of talking about that now?" Rodney. Jones muttered to himself, but said, "George, what now?" It is terrible to know that if we exceed 100 billion euros per share, our losses may exceed 10 billion euros! ”

Prices are rising rapidly and have gone far beyond Rodney. Jones's expectations, which he originally estimated at a loss of around €7 billion to €8 billion in this deal. But now it seems that the loss figures have jeopardized the survival of the quantum fund.

"So I'm going to do it all over again!"

Soros glared at Jones dissatisfied, and said lightly in the other party's stunned eyes, "I decided to sell some of the shares of the Volkswagen Group!" ”

"What?"

Rodney. Jones was so surprised that his hair stood on end, and he muttered, "You're crazy! You must be crazy! How is this possible? It's absolutely impossible! ”

"We've worked so hard to collect so many chips from the market, how can we sell them all at once? George, you should understand. Even if we sell it and get some cash. But in any case, we are unlikely to get more chips out of the market. At present, we can only close a part of the part, how can we still spit it out? ”

Jones almost roared.

"You're right, we really can't close the position!" Soros listened to Jones with a blank face, and then said lightly, "No matter what, we will break the contract." But in order to default the amount is less. I'm just going to take a risk. Don't get excited, listen to me slowly. ”

"The situation is basically clear, and the party holding the shares has no intention of selling the shares at all. The more the price rises, the more reluctant they are to sell. In such a situation, the stock price will only grow higher and higher. If you want to break this situation. Someone has to be the first to strike. This person must not only be the first to sell stocks, but also heavyweight, so as to be able to break the 'alliance' of the bulls. You should be able to understand this explanation, right? ”

Rodney. Jones fell silent for a moment, "What do you mean...... The current price has reached some people's expectations, so some of them have started to sell stocks. And for others, if they don't sell at the moment, once the price falls, they won't get their current profits? ”

"Yes, exactly!"

A strange smile appeared on Soros's face, "Thanks to the market, they can't figure out whether the person who sells the stock is long or short." If my guess is correct, after we sell, the stock price will fall quickly, and we may be able to make some money. ”

"But ......" Rodney. Jones wanted to say something, but Soros didn't give him a chance to continue, "immediately order it to go down and let the traders sell the shares they have on hand, the total number of shares set at 5 million." As soon as the price falls below 700 euros, stop selling and regain the chips in the market. ”

"Don't worry, the exchange will help solve the problem of not being able to close the position in the end." Soros explained Rodney lightly. Jones's last question.

In the middle of the conversation, the share price of the Volkswagen Group has jumped to 1,050 euros per share, and more than 1,000 euros of shares are extremely rare in the market, and the breakthrough of an important psychological threshold is a strong stimulus for the bulls, and for the bears it is like the sky is falling, because such a price is enough to crush many hedge funds.

Just when the market sentiment was extremely differentiated, the market changed again, and the bulls who had been reluctant to sell began to appear large sell orders, a sell order of up to 200 shares was thrown first, followed by two sell orders of 1 million shares, a total of up to 4 million shares of sell orders instantly fixed the price at the level of 1058 euros per share.

At the same time, there is news in the market that the Porsche Group may be involved in market manipulation and false disclosures, and the Frankfurt Exchange is considering investigating it.

The sky-high sell orders and this news worked together, and suddenly the Volkswagen Group's rally came to an abrupt end. Despite the strong short buying in the market, it was not possible to digest such a large sell order for a while, and the price began to fall. But what made everyone stumble was that these big sell orders immediately revised the price and were also listed at the latest market price.

"The bulls can't wait to ship!"

"Did you get some news in advance?"

"Oh no, if we let them ship, what else do we earn?"

……

All kinds of thoughts quickly appeared in the minds of investors in the market, especially on the bulls, because the willingness to see the main sell orders was particularly strong, which seriously stimulated them. On the one hand, they cursed this bull who did not understand the "rules", and on the other hand, they also began to ship frantically, hoping to sell a little more stocks at a high price.

The Volkswagen Group's stock price fell instead of rising, and began to fall rapidly. (To be continued......)

PS: Thank you book friend apo11o for voting for the monthly pass! I hope that everyone's enthusiasm for supporting this book will continue to be maintained, and the author will continue to find ways to revise it, and strive to release the disappeared ones, which have disappeared a lot, and the new book friends can't read them all after the holiday...... It's not a problem with H, it's estimated to be Z, it's really hard to change......