"This time, we are going to set a trap for the bears and let them know who is the boss in the copper futures market!" Yasuo Hamanaka had a smug look on his face, he was already familiar with the various strategies and pitfalls in the copper market, and this time he didn't know who designed such a jihua, but he was caught by Yasuo Hamanaka, who had an unusually keen sense of smell.

Seeing his boss show this kind of smile, Kenjiro Oshima felt a chill in his heart, as an assistant who had followed Yasuo Hamanaka for the longest time, he was too familiar with the psychology of his boss when he showed this expression, at this time he silently thought in his heart, which loser would choose his boss as his opponent this time!

……

New York, although it is late at night, but the lights of Wall Street are still bright, many office buildings are lit all night long, money never sleeps, and these people who pursue money must follow the footsteps of money, so large investment banks have opened different branches in different capital markets, such as in New York, London, Tokyo, Hong Kong and so on. However, due to geography and cost, the U.S. mainland is still their most important root base.

However, for the fund industry, it is completely unnecessary to set up a separate office space in other regions, after all, the current investment method has become increasingly electronic, and although the transaction on the floor is still retained, it obviously cannot keep up with the speed of electronic matching. Jet lag is a minor issue, because these people on Wall Street are workaholics, and they're used to working in different markets.

Druckenmiller took a sip of a steaming cup of coffee. His brows furrowed: "This taste is not authentic enough, it should be a problem with the coffee beans." "Subconsciously pour a whole cup of coffee into the pool.

He has formed his own unique taste for the pursuit of a high standard of living, and ordinary coffee cannot enter his eyes at all. But after shaking his head, he made another cup of coffee, only this time with two extra spoonfuls of milk.

"How's it going, boys?" When Druckenmiller walked into the trading floor, the originally noisy hall suddenly fell silent, and there were more than a dozen energetic young people here, discussing yesterday's market dynamically.

Hearing Druckenmiller's question, the young traders first glanced at each other. Then one of the slightly older traders stood up and said, "Stanley." Recently, the main bears seem to have been forcibly suppressing the price of copper futures, and the point we are discussing is not to take the opportunity to pull up the price of copper, so that some of our previously held positions can be sold? ”

Even with deep pockets, these traders are very careful about their positions. This is because, on the one hand, they have to be constantly alert to the impact of market price fluctuations on their positions. On the other hand, it is also because the position takes up a lot of margin.

"Reducing positions? That's a great idea! What about the others? Druckenmiller replied noncommittally. Then he asked about the others.

A white analyst with a somewhat thin figure stood up, habitually pushed the thick glasses on the bridge of his nose, and said with a serious expression: "According to my analysis. The reason for the decline should be manipulation, because judging by the fundamental news, there is no reason for copper prices to fall. It is believed that copper prices may continue to fall in the coming period, because options are about to be announced, and although the decline is not obvious during this time, it is likely to be a strategy of the bears. ”

As soon as his words came out, the other traders stopped talking and lowered their heads to think about this possibility.

Even if they can call for wind and rain in the U.S. capital market, these elite traders are immediately dumbfounded as soon as they arrive at the copper futures market, and the original strategies cannot be applied in this market at all, and the daily new opening and delivery system also makes them uncomfortable. Of course, there is nothing more than the fact that there is no limit on the number of lots that can be held.

Many markets in the United States have a strong hedging effect, so there are definitions in hedging accounts and speculative accounts, and there are mandatory rules on the number of lots held. Most importantly, U.S. law has strict penalties for futures manipulation, so even these hedge funds do not dare to blatantly raise or suppress futures prices, even if such behavior is generally difficult to convict.

However, in London, none of this is a problem, and even the settlement is not done on a daily basis, which makes them very happy with their abundant funds. What kind of concept is this? That is, if you have an overwhelming financial advantage, you can arbitrarily pull the price of copper (or other non-ferrous metals) to any favorable height.

Of course, this is only a theoretical possibility. If someone dares to hold a lot that can directly affect the price fluctuations of the market, then he will soon become a public enemy of the market, and I am afraid that most of the people in the market will attack him frantically.

"Anything else?" Druckenmiller continued to ask, he had thought of these possibilities, and now he wanted to hear what other good ideas the men had with them.

"If someone quietly absorbs long orders at a low level, on the surface, they are suppressing copper prices, and when his long orders are absorbed to a certain extent, they suddenly make efforts to raise copper prices, so that these long orders can be profitable immediately, isn't it a very simple reason? Bitches! At this moment, a shrill voice suddenly sounded. Everyone was a little stunned for a while, and they all looked up and found that it was a debt trader, who was standing two or three meters away from their group of people with his neck crooked, holding his hands on his chest and sneering on his face, looking at this group of non-ferrous metal traders with disdainful eyes.

In May, Europe's bond markets had somewhat halted the surge in yields, after all, Europe's fundamentals were good, central banks had all started to cut interest rates, the consequences of US capital withdrawals were gradually fading, and some bold money began to re-enter the European bond market.

These traders are in charge of bonds, and in their opinion, bonds are the first choice for making profits. Of course, those who do foreign exchange, futures, and even stocks think that their own varieties are the first choice to make profits, and it is natural for the two sides to look down on each other.

"Gilbert, you TMD shut up for me, you son of a bitch, get me out of here!" As soon as these copper futures traders saw this trader named Gilbert, someone immediately yelled.

Even within a fund, they sometimes compare each other's performance and dividends, and the fixed income department has been bullish in the past two days, first making a lot of money in the British bond market, and then making a lot of money in the bond market of France, Germany and other countries. Despite the bond crisis that shocked the world in February, March, and other months, the Quantum Fund sold its portfolio of US bonds in a timely manner in January, but inevitably lost a large sum in Europe.

Therefore, every time Gilbert passed by the commodities department, there were always a few traders who said strange things in a weird way, and naturally teased the employees of the fixed income department, which made Gilbert and his colleagues very angry.

Even last week, they had a big fight at a fight club on the outskirts of town, and of course, both wore thick protective gear. In this way, traders keep their morale high so that they are not overwhelmed by mountains of pressure.

When Gilbert had the opportunity to hurt traders in the commodity market, he immediately and unceremoniously sarcastic. It's just that what he said are some simple trading skills, how can these traders here not know.

That's why different industries have different strategies. Take copper futures as an example, this market can only follow the trend, that is, through fundamental analysis to determine the future trend of copper, and can not affect the price through forcible manipulation, even if it can reach the ideal price for a while, the future price will definitely return to the price reflected by the fundamentals.

For example, if the copper price of the forward contract is $2,500, the price of copper 3 is $1,800, and the difference between the two sides is as high as $700, it is easy for arbitrageurs and bettors to enter the market.

Gilbert had just taken a moment's chance, but he didn't see Druckenmiller, and when he saw the commodity traders talk back, he was about to fight back a few more words, and then he saw Drawkenmiller turn his head and shrug at him. Seeing that the big boss was making a helpless gesture, Gilbert crooked his mouth and walked out with a sense of humor.

"Actually, what he said is not wrong, we have been buying copper futures contracts in June and July at a low price during this time!" Druckenmiller turned his head and pretended to be tacit, causing the traders who were still angry just now to daxiao.

"Excluding the housing starts, crude oil and other big factors, you have noticed that there are people quietly buying spot copper in the market, which may be short or long, in any case, our future strategy will not change."

"In addition, it must be explained that if you can borrow leverage from a broker, don't be stingy and try to amplify the leverage, so that our returns will be greater, understand?"

Druckenmiller's encouraging words left behind a group of traders who were busy making phone calls, and now that the copper market is about to open, they must get their work ready as soon as possible.

……

On May 3, the day of the announcement of the right to execute, the market surprisingly did not fluctuate much, the price of copper futures only fell slightly, and then on the second trading day, the price of copper futures rose a little bit, this kind of calm that the mountain rain is about to make many investors mutter, do not understand what is going on.

Soon, on the day of May 8, the price of copper futures began to fluctuate violently! (To be continued......)

PS: Thank you for the tip from the Demon Dragon Battle Ghost yesterday! A lot of the time during the holidays is released in advance, so it's been a long time since I thanked the friends who voted for the monthly ticket and rewarded, I hope you can understand~