"Exactly?" Andrew is not at all surprised, Bell Stone has already manipulated the market once in the first half of the year, and this time it can be regarded as a comeback at most.

Neither he nor Zhong Shi knew that the last time it was strictly speaking that they completely controlled the market, because the first was that the demand for copper in the market had indeed skyrocketed, and the second was that there were other bulls in it.

Andrew wanted to know Bell Stone's specific operational strategy. Through the observation during this time, he found that Zhongshi was just trying to eat long contracts, and the number was not much, which could not affect the direction of the market at all. Over time, they have bigger and bigger positions, but not much in terms of price.

Zhong Shi had already finished breakfast, picked up a coat and put it on his body, and then said unhurriedly: "Have you forgotten that we still have 100,000 tons of copper?" ”

"Copper?" Andrew suddenly remembered that in the first half of the year, Zhongshi asked him to quietly deliver the expiring copper contracts on the market, and finally collected 100,000 tons of spot copper, which is still stacked in the leased warehouse. "But...... However, this part of the spot copper is only worth 4,000 contracts, and we can only sell short, which is the opposite direction of what we are doing now. ”

"Don't we have any other way than to sell short?" Zhong Shi smiled and asked disapprovingly.

Andrew was stunned, he couldn't understand what Zhong Shi said, could it be that Zhong Shi wanted to do cash copper trade? To be honest, he already felt that there was something wrong with this part of the copper accumulation, and in the current situation, this part of the copper can be mortgaged in exchange for at least 200 million US dollars in loans, and the money is put in the warehouse in vain. It's a pity.

"I can only do short selling, and I have no intention of getting involved in the spot copper trade." Zhong Shi glanced at Andrew slowly, as if he could see what he was thinking, "Have you ever thought about the possibility that one day, the LME's inventory suddenly increased significantly; Or maybe one day, the LME's inventories are drastically reduced? ”

"A significant increase? Decrease? Andrew's mind was a little spinning, he shook his head vigorously, forced the chaotic brain to calm down, and then broke his fingers one by one and analyzed: "If there is a significant increase in LME inventories, it means that the bears want to deliver on a large scale." In this case. Those who hold long positions will definitely be eager to sell their contracts, and the price of copper futures will definitely fall immediately. With a sharp increase in inventories, the market will definitely think that the bulls want to deliver, and the bears will have to worry about the liquidity of the contracts in their hands. Copper prices will ......"

Speaking of which. He came to his senses in an instant. Looking at Zhong Shi in disbelief, his lips trembled and said, "Zhong Sheng, you don't want to ......" After seeing Zhong Shi smile and nodded. He immediately shut his mouth.

"How? This trader jihua is good, right? Bell Stone winked at Andrew, who was already a little petrified, and smiled smugly.

"Uh......" Andrew, who came back to his senses, nodded his head like a chicken pecking rice, gave Zhong Shi a thumbs up, and praised sincerely: "This Jihua is indeed the most genius strategy I have ever seen, there is no one." However, there are some details that may need to be considered. ”

"You mean the closing process, right?" Zhong Shi smiled and said disappreciatively: "This matter is very simple, we just need to absorb contracts in the market that are close to the delivery deadline." ”

"How does this work?" Andrew was already a little dazed, he couldn't accept such a large amount of information for a while, and his brain, which had finally calmed down just now, was a little swollen.

"Isn't that easy?" Zhong Shi nodded Andrew with his finger, and said with some hatred: "Using the account of Skyline Financial Company to sell 4,000 contracts, and when the contract expires, the cash copper will be transported to the LME warehouse, and then delivered, doesn't this give the market an illusion?" It's the same thing to ship in and out. ”

"It's just that there is a problem with the fact that the contract that is close to the delivery date has to have enough liquidity in order to be fully filled. However, we have two accounts, Skyline Financial Company and Tianyu Fund, which is enough. ”

Seeing that Zhong Shi was so thoughtful, Andrew was so shocked that he couldn't speak, his mouth opened wide, and he didn't even spit out a word for a long time.

"Let's go!" Zhong Shi looked at Andrew's appearance, shook his head helplessly, and strode out of the room.

……

In the following two trading days, the price of copper futures continued to fluctuate near $2,700, on the one hand, the bulls gradually closed their long-term positions in the near month in accordance with the previous agreement, and instead ate the long-month contracts, on the other hand, the shorts closed their positions at a low level with the follow-up orders that took over the long positions, and then opened the corresponding counterparty in the far month, so that the active months of the copper futures contracts were transferred to November and December.

On November 9, the copper price opened at $2,675, after the opening of the long and short main side began to change hands frequently, and the trading volume also expanded rapidly, although the trading was very active, but the copper price did not show any signs of rising, and the final copper price closed at $2,643.

The following day, November 10, the price of copper futures opened at $2,642, slightly lower than the closing price of the first day, but on this day the bulls began to exert force, because their near-month contracts were almost out, in order to be able to close their holdings of November and December contracts as soon as possible, they began to gradually pull up the price of copper.

The reason for the gradual rise is to give a signal to the bears who are opponents with them, so that they can also close the front-month contracts in their hands as soon as possible. The shorts, who knew what they were doing, immediately closed the market on a large scale with a mid-to-late November delivery date, and were greatly relieved that they were able to close their long positions at a loss, even though the current market price was not in their favor.

……

"The bulls are starting to pull up the price of copper futures, and it is exactly as we expected." Looking at the rapidly changing price of copper futures, Karl said proudly.

Prior to this, although they had already opened a short position in the market one step ahead, the price of copper futures fell in the following two trading days. As a result, they did not absorb too many positions, and so far there are only 300 positions. Since the price was set at $2,700, they did not open any more positions even if the price of copper futures continued to fall.

"Boss, are we going to build some long positions and take the opportunity to make some money during this rally?" Jerry took the opportunity to say.

Karl thought for a moment, then nodded, and agreed: "You're right, you can open some long positions appropriately, but only with the date of the short positions we opened. And when it reaches $2,700, it will be thrown immediately. ”

Jerry agreed. Traders are then instructed to buy long positions in the market, and then start to operate frequently, and when the price rises by one or two positions, they start selling. At this point, they are already the same as most of them. Earn some insignificant profits by operating frequently.

……

The next two trading days. Copper futures prices continue to rise. By November 11, the closing price had risen to $2,688, approaching psychological expectations. And Karl also made everyone empty their long positions on this day and wait for the next trading day.

On November 14, the price of copper futures opened at $2,685, and the trading situation was stable after the opening, but in the afternoon, the market suddenly changed violently, and large buy orders continued to appear in the market, and the price of copper futures soon rushed to around $2,700. The bulls and bears fought fiercely at this price, but the bulls were stronger, and soon broke through the defense of the bears at $2,800 and gradually pulled the copper price above $2,700.

"Open 1,000 hands!" In the trading room of the Carr Fund, traders are glued to the data coming from their computer screens, while they are constantly on the phone, asking brokers for quotes. When the price broke through $2,710, Karl shouted hysterically.

According to the previous strategy, the people of the Carr Fund should open a short position at the $2,700 position, but Karl saw that the market was rising so fiercely that he temporarily decided to increase the price of the position.

After the order of 1000 hands of short positions was conveyed to the broker, it quickly caused a reaction in the market, and the original menacing copper price was immediately a meal, and then Xiangxia fell two prices, but the copper price rose again in the late ten minutes.

"It's already broken through $2,735, we've already lost money, what should I do?" Looking at the numbers that continued to rise, Jerry's forehead was already sweating, and he asked Karl a little anxiously.

In this case, Carl showed the professionalism of a fund manager who was not surprised, he did not change his face, shook his head slightly, and stopped Jerry and said: "Don't worry, the bears will not let the price of copper rise arbitrarily." Now we can open another 1,000 short positions, which will increase our average price. ”

"But this ......" Before Jerry finished speaking, the price of copper futures on the disk has broken through $2,740, "Now that the price has reached this position, do we still want to increase our position?" ”

"Yes, increase your position!" Karl said categorically. It's just that at this time, his heart is not as calm as his face, and the price of copper futures has risen so much, not as expected. However, this can also explain why the bulls are so crazy to pull up the price of copper futures in order to sell their November and December contracts at a high level.

Seeing Carl so stubborn, Jerry could only shake his head helplessly, then picked up the phone and began to dictate to the agents.

……

At this time, in the trading room of Tianyu Fund, it was also a hot scene. Zhong Shi loosened the tie around his neck and confirmed to Andrew again: "Andrew, are you sure that our bureau is all arranged?" ”

"Sure!" Andrew shouted without looking back, and then shouted at Ampit: "Close the long position of 100 lots, as soon as possible." ”

In addition to the huge long positions established in the market, Andrew has a trading quota of no more than 1,000 lots per day, and now he manages small trades at X-Spatial Fund, as well as several traders. Now that the copper price has risen fiercely, he doesn't dare to delay for a moment, even if Zhong Shi asks, he just replied impatiently.

It is not Zhongshi's funds that are driving up the price of copper today, but the people who planned the Chilean copper industry, and it is they who have established a considerable number of long positions before, and made a big profit with the news and reached an agreement with the bears. Now most of their positions are in November and December, but they know the power of this news, if they wait for the Chilean side to announce the settlement, then the price of copper will fall immediately, and then they will spit out all the money they have eaten before, so they can't wait to pull up the price of copper in the past two days, hoping to clear all their positions.

The short-term price surge immediately attracted the attention of the entire market, and the followers and other bulls naturally noticed this situation, and they began to eat into the long positions from the $2710 position, so that the bulls gradually lost a lot of positions.

This situation is naturally expected by the main force of the bears, and like the main force of the bulls, the bears will gradually close the contract for delivery in late November, and then open the corresponding opponent at the high level, so that the bulls are facing the formation of new positions while pulling up.

In the face of this situation, it is natural to fight the amount of funds on both sides. Although the amount of funds for the bulls is sufficient, they can only sell their long positions frequently, and finally by the time the market closes, they have exhausted thousands of positions, and it will take two or three trading days to completely close them. (To be continued......)

PS: Thank you very much for keeping me up to the point where I'm thinking about it!