At this time, the bullish sentiment of the market has been fully mobilized by two large buy orders of 1,000 lots, and investors participating in the market are keenly aware of the entry of large customers. When the copper price was raised for the first time, most people were waiting and watching, for fear that this was a trap set by the bulls, and it didn't take long to see the price of copper futures fall, but the price did not fall to the previous level.

These people's minds began to liven up, especially the short-term funds, but they rushed to enter the market before the price rebounded, but their funds were limited, and they did not dare to place too large a large number of lots, but they entered the market in the form of a limit price to build a bottom, and finally changed a lot of long orders when Zhongshi entered the market for the second time.

When the second long order began to close the position, these followers followed up one after another, wanting to build a good bottom position before rebounding again, waiting for the third upward attack of the bulls, and in just five minutes they ate all these long closing orders, which have short-term short hand changes, and short-term long new openings, but they have ignored one point, that is, the main force of long and short positions that were active in the market before did not appear.

Because the number of orders and the amount of positions cannot be seen in the telephone market, most of the parties to the transaction choose their operation strategies based on experience and techniques, except for those funds that can manipulate the market.

An open position of 1000 lots is enough to stir up the entire market in a short period of time, especially in the form of a market order.

After waiting for all the information about closing the position, Zhong Shi hung up Brian's phone and said a few words to Andrew on the other phone. Just rested.

The authority given to Andrew by Tianyu Fund is 10 million US dollars, which can open less than 2,000 positions in the copper futures market, as long as Andrew can clear all his positions in time on the same day, Zhongshi will not worry too much. Andrew's main task is to take over the copper sell orders that have been on the verge of delivery in recent trading days, and gradually send the current copper to the warehouse rented in London.

It's just that what Zhong Shi didn't know was that he left behind a large number of followers who didn't know how to operate, so that they suffered heavy losses in the bearish counterattack shortly after.

……

"Minister? There are abnormal fluctuations in the market for copper in the future, and it seems that there is a large amount of money entering the market! ”

In Yasuo Hamanaka's office, a young trader said in a hurry. In the last half hour. They are all aware of the abnormal fluctuations in the price of copper in the market. However, they did not make a move, but just kept watching from the sidelines.

With a trading volume of thousands of lots, the margin required can reach millions of dollars, or even tens of millions of dollars. This is not a privilege that the average trader can have. It is for this reason that it is also possible. Other traders at Sumitomo Corporation were indifferent to the volatility of copper prices in the market. When the money quieted down, they hurried over to report.

"Keep watching, don't let them delay my Jihua." Yasuo Hamanaka's face was expressionless. Said in a flat tone. Now that his position has been reduced to an all-time low, he has fully released his margin and is preparing to accumulate funds for the next step in raising copper prices.

The market calls him "Mr. 5%", which means that his trading volume reaches 5% of the entire market trading volume, which means that the number of lots traded every day is more than 2,000 lots, and the exchange of funds is tens of millions of dollars.

In fact, most of his funds were squeezed into the previously accumulated positions, and although it was basically a big positive for copper futures, it was because Sumitomo's account was liquidated in the market that the price of copper futures for the whole April was sluggish.

Now he is preparing to take advantage of this opportunity, ready to start from a low level, and start to pull up the price of copper futures. After opening a position in April, he now has hundreds of millions of dollars in his hands, which is enough to support copper prices for some time to come. Even in the event of a sell-off, he is not afraid, because he has prepared tens of thousands of tons of spot copper for delivery.

Therefore, when he heard that the bulls were messing up in the market, his first reaction was that he couldn't let this shili spoil his jihua, but then he thought about it, and it was not too late to see what this capital wanted to do first, and then decide what to do next. If this stock is blindly long, then he doesn't mind shorting it backhand, suppressing this shili first, and then executing his jihua after he leaves.

Fortunately, Zhong Shi was in the United States, so he couldn't operate overnight, so he escaped. Otherwise, if the American fund and Hamanaka Tai join forces, I'm afraid the two bell stones will not be enough.

The traders of Sumitomo Trading, who carefully observed the market situation, did not find any signs of this capital in the market, because soon after the buy order was released, the main force of the bears began to exert force, and one after another sell orders were thrown, and the bulls who took over the Zhongshi hand-changing plate were beaten to the ground, and the price of copper futures quickly reversed and fell to $1,924 per ton.

At this time, the decline began to ease, on the one hand, because some accounts in the short camp closed when they saw the good and began to close the previously established short orders in the market, on the other hand, the bulls who were hedged at a high level saw that there was still no main force of the bulls below, and chose to cut the meat and leave the market under the condition of unbearable losses.

The main reason is that the main bears have accumulated a large number of positions, and there is no extra money to attack at this time, although they have accumulated a lot of floating profits on their accounts, but under the special system of the LME, this part of the floating profits is only a number on the books, and they are all floating clouds before they are all closed.

Although the price of copper futures has barely hit down two levels, the market has been keenly aware of the main force of the bears is unable to probe, and they have begun to do long, especially the former bears who have just shorted to get profits, and at this time, the main force of the bulls who have not appeared has also begun to exert their power, and the two shili almost at the same time began to exert force at the position of $1921, and quickly pulled up the price of copper futures.

"Buy 150 lots, $1,921."

"Sell 354 lots, $1,923."

"Sell 470 lots, $1,925, and the rest of the unfilled will be traded at the market price, fast!"

……

In various brokerage companies, the call of the commission came one after another, almost all of which were buy orders during this time period, which surprised the brokers, but fortunately they had already received instructions about the price of closing the short position, so they did not rush to match.

The price of copper futures quickly rose to the $1940 level, which is said to be an integer point, and the bears should set up a defense here, at least to consume some of the bulls' funds, but in fact the bears did not place many limit orders here, and the bulls easily broke through this line of defense.

The bulls who broke through the integer point are even more vigorous, rushing to 1945 points in one go, and at this time the orders sold gradually increased, and the brokers knew in their hearts that this was the bears preparing to counterattack, but this would have to wait for a while, because the main force of the bulls was currently pulling up the copper price while clearing the previous position, because only in this way can they keep profits.

The game of the market is the game of people's hearts, which has countless possibilities, but when the main force of the bulls is calculating the trend and the shorts, these shorts and the followers are also calculating the main forces of the bulls.

"Clear all the current positions, be fast, market order!" Just after the price of copper futures rose to $1,945, Andrew shouted loudly.

A small part of the funds in his hand was established in the July contract, and the rest were invested in the main contract in June. Before, he misjudged the situation and lost more than $50,000 at once, which made him extremely unwilling, and this wave of rise just earned back the original loss.

Andrew, who was already a little frightened and at a loss, naturally accepted it when he saw it, and quickly ordered his traders to close all the long orders, without the slightest intention of continuing to raise the price of copper. Hearing his instructions, the traders of Tianyu Fund began to call the broker's phone to clear all positions as quickly as possible.

250 hands of long closing orders appeared in the market, immediately caused a commotion, followers of the market can not help but speculate, this is the bulls are ready to escape, to their surprise, the real bulls in 1945 and 1944 US dollars set a total of 1000 hands of limit orders, Andrew this long order easily eaten.

The price of copper futures only stayed at the $1,944 position for less than a minute, and then jumped to the $1,945 position again.

What they don't know is that the main bulls who are actively pulling up copper prices have quietly reduced their positions in the process of pulling up, on the one hand, they will pocket their profits, and on the other hand, they will fight with the main bears by mobilizing Shili who follow the trend.

The main force of the bears, because they were short at a high level before, are now looking at the rest except for sporadic short opportunities to open positions at a high level. The so-called counterparty order of the long position is nothing more than the position held by the previous short position and the turnover of the other long position.

Soon, the bulls pulled the price up to the $1,949 level, approaching the integer point of $1,950, but they will soon find that there are not many opponents in the market now, and the long positions that change hands are only profitable on them, and even the strategy they have been formulating while pulling up and exiting the positions is not bright.

The bears made a move at this time, taking advantage of the fact that the bulls had not yet reacted, and opened a short order in a big way, and instantly swept away the buy order at the price of $1949, and then it was 48, 47 and other dollars, which has suppressed the price of copper futures to $1940, which has approached the position of their first position.

"Buy 100 lots!" At this time, Andrew instructed his traders to enter the market again, and after making up for the losses, he chose the opportunity to enter the market again. (To be continued......)

PS: I didn't even find out that yesterday was Chinese New Year's Eve, which was set in advance.