The opening effect of this day was quite good, absorbing more than 5,000 short positions, although the final oil price was only 18.05 US dollars lower, but Zhang Jiaqiang's team was a winner.

However, the number of trading lots on this day was less than 100,000 lots, which was a full 100,000 lots worse than the previous trading day, and the total number of open positions increased by more than 5,000 lots, which left unlimited room for market observers to reverie.

The number of traded lots is the number of contracts that are bought and sold every day, reflecting the activity of the market, while the number of positions is the number of long and short positions that have not been closed after the market closes, which is commonly known as overnight positions. The owners of these positions include hedging oil companies, institutions specializing in futures trading, and naturally some speculators with large sums of money.

It stands to reason that the last trading day is the trading day of the October contract, if the long and short sides are crazy to attack and defend for the settlement price of Zuihou to have the most favorable situation for themselves, and the number of trading lots has skyrocketed so much, then the trading volume on the first day of November has plummeted so much, which can only show that the long and short sides are just in a lose-lose situation on the October contract.

The futures market is a zero-sum or even negative-sum game, either the east wind overpowers the west wind, or the west wind overpowers the east wind, how can there be a lose-lose situation? This is mainly because some investors in the market have cleared the hedging orders in the futures market after making profits in the spot market, and there are also some speculative orders with large amounts of money to leave the market, which led to a sharp decline in trading volume in November.

Naturally, these funds will not leave easily, and they will continue to enter the market when the long and short trend of the contract in November is clear.

According to the large changes in volume. Market watchers were generally cautious about the next day's market information, and sure enough, at the opening of the next day, the price of crude oil opened at $17.99, slightly lower than the previous day's settlement of $18.05.

"Sell 1,000 lots and try what the situation is first!" In the trading room, Zhang Jiaqiang stared at the numbers that popped up on the screen and said thoughtfully.

A sell order of 1,000 lots was quickly put out, and the market reacted immediately. Oil prices fell by five levels. Soon fell to $17.94, the real-time chart became almost vertical, during this period of 1,000 short orders traded 485 hands, it is clear that the bulls did not set up a strong defense at these prices. Otherwise, it would not have been possible to make the bears trade so much so easily.

There is such an unwritten rule in the capital market. It is the trend of the general trading variety in the five minutes after the start of trading to determine the trend of the day. Although this rule is not absolute, it is easy to influence the direction chosen by investors later.

It is impossible for the bulls to back down at this time, otherwise they will be led by the nose. Soon. Their counterattack came, and the remaining 515 short orders on the selling price were instantly filled, and the price of crude oil futures for November rose accordingly, rushing to the $17.98 position in one go.

Seeing that he was about to regain the position of the opening price, Zhang Jiaqiang was about to speak, but he heard Zhong Shi, who was watching from the sidelines, say: "Attention, now is not the time to fight with the bulls, aren't we still profitable?" Let's take a look at the reaction of the other bears. I need to reaffirm that what we need at this stage is to open a huge short position, the higher the average price of this position, the better, understand? ”

Seeing that Zhang Jiaqiang had departed from his original goal, Zhong Shi had to speak. As for the purpose of this operation, it is estimated that only he himself knows.

Although he was very puzzled by Zhong Shi's order, Zhang Jiaqiang still strictly carried out his order, and asked his traders to stop opening new short positions, and instead began to close positions with their backhands.

It turns out that the bears in the market still think that the bears who appeared out of thin air yesterday will entangle with the bulls at this price for a while, so as to test what they mean and test their financial resources. But they never expected that after a little temptation, this short stock turned long and began to level the short orders they had just established in the market.

Seeing a string of short flat numbers appeared, the bears were a little incomprehensible, in addition to the small stock long orders that began to follow the trend in the market, the buying price successively threw out three closing orders of more than 300 hands, this kind of good to close the jiashi to some extent and promoted the rise in oil prices, oil prices in Zhongshi's closing orders and the pursuit of the bulls rose again and again, in one breath to regain the price of 17.99 did not stay, continued to rush up to $18.00.

Seeing a green line pulled out of the screen, the bears immediately couldn't sit still, and successively threw a total of 3,000 short orders at the price of 18.05 and 18.07, which could be able to stop the oil price at $18.07.

At present, the latest quotation form is 18.06, 501 pending orders, 18.07 ask prices, and 1054 pending orders. It seems that this wave of rising market will hardly end here, and it may even fall as a result.

"We ...... Can we go long, push up the price of oil, and then wait until a certain price level to close it? Seeing this, Zhong Shi said with some uncertainty.

Zhang Jiaqiang was speechless, when he met such a strange employer, he still commanded cleverly, but he still had to do this. He wanted to know if Zhong Shi knew or not, and what he said was completely opposite to yesterday's operation, and it was even possible to close all positions.

Having said that, Zhang Jiaqiang quickly thought of a solution, which was to go long in December, so as to retain the short position in November, but in this way, the two different months of the contract formed a hedge.

"Buy 1,500 lots, CONZ, first break the 18.10 mark, I believe that in November, under the impetus of that side, the bulls will react quickly." Zhang Jiaqiang thought about it and gave an order to the traders who were waiting on the side.

At present, most of the main funds are concentrated in the November contract and the December contract, and the price difference between the two is not much different, the relationship is very close, and the trend is naturally about the same. The November contract is trading at a discount of about $0.5 to the December contract, when the November contract hits $18.06. The December contract is stuck at $18.10.

With the addition of 1,500 new buy orders, the line of defense set by the bears at the 18.10 price was shaken instantly, and the trading volume began to amplify, and the bulls, who were still a little hesitant, saw that someone launched an attack first, and immediately launched a wave of follow-up, and the buy orders instantly increased to more than 3,000 hands.

The sudden attack immediately broke through the bears' defenses at this level, and after breaking through the 18.10 level, oil prices soared until 18.15 before encountering the bears' re-set defenses, and then slowly stopped.

"984 lots were traded. 516 lots were unfilled. The average price is $18.12, what do you do? After the oil price temporarily stabilized, the quotation clerk asked Zhang Jiaqiang after unifying the positions of various traders.

"Leave two people behind. Slowly flattening the December contract. Profit or loss doesn't matter. Others in addition. All went to the November contract and began to open short positions. After Zhang Jiaqiang finished speaking, he looked at Zhong Shi beside him. Seeing that he had no opinion, he added, "Be fast!" ”

Stimulated by the December contract, the price of crude oil in November also followed suit, and the bulls broke through the $18.10 mark in one go, and finally stuck the oil price at $18.13.

It's just that this is the highest point of the day's crude oil prices, the bulls originally thought that they could rush to the $18.15 position, but there were a large number of short orders in the market immediately, and the momentum was extremely fierce, first the bulls were swept away at the $18.13 position, and then the momentum was like a bamboo, and the bulls were swept away again at the $18.12 position, and then the $18.11 position was cleared, and finally the bulls were forced back to the psychological threshold of 18.10.

In another month, two traders placed long orders of 984 lots, first more than 50 lots at 18.15, then more than 400 lots at 18.14, and then all positions at 18.13. In the end, this near-blitzkrieg long made less than $10,000 in profits.

In November, a total of 3,185 short orders were traded at three levels, with an average price of $18.12, and some of these contracts were newly opened long positions, and some were short positions.

The decline in the market has not ended here, and the big bears have not yet made a move, and they saw that Zhongshi's funds were "messing around" for a while, and the effect was very good, but what they didn't expect was that this sudden rise was caused by this capital curve.

As the saying goes, "take advantage of your illness, take your life", after Zhongshi's funds suppressed the oil price to $18.10, the bears began to exert their strength, and successively threw five short orders in the market that were more than 1,000 hands, directly breaking through the defense line that the bulls had accumulated with great difficulty.

The next important pass may be 18.05, looking at the menacing jiashi of the bears, I am afraid that the bulls will not be able to support it for long, just when Zhang Jiaqiang was ready to further expand the results, Zhong Shi suddenly said loudly: "Pause, today's trading will end here!" ”

"What?" Zhang Jiaqiang and a group of traders were stunned for a while, this time is a good time to chase after victory, how can it be said to stop? Everyone's eyes were on Zhong Shi, expecting him to give a reasonable explanation.

In the face of the gazes of so many people, Zhong Shi only shook his head slightly, and ordered a little unreasonably: "Gradually clear all the empty positions and further increase the oil price!" Then he turned to Cheung and explained: "This average price is really a bit low, and we have to change the strategy we have made." ”

“weishenme？” Zhang Jiaqiang argued loudly. The next moment, he sensed his gaffe, hurriedly walked to Zhong Shi's side, lowered his voice and asked, "Zhong Sheng, can you tell me what you mean?" (To be continued......)

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