On Friday, May 8, 1994, Copper 3 opened at $1,974, basically the same as the closing price of the previous trading day, and just when the market thought it would be a slightly dull trading day, copper prices suddenly began to rise wildly!

"Today will be the day of the release of the US economic data in April, according to the data of the first three quarters, even if the growth rate of this month slows down, data such as the housing start rate will inevitably increase sharply because of the beautiful data in the first quarter, so this period is the best time to raise copper prices!" In New York, Druckenmiller taught his traders so much, and after a pause, he said slowly: "Some time ago, we have accumulated a large number of long positions in the June and July copper 3 contracts, with an average price of about 1965 and a size of about 20,000 lots, and these positions will be a major profit point for us in the future, so starting today, starting with non-ferrous metals, we are going to earn back all the losses in the first quarter, understand?" ”

"Yes, boss!" A group of traders who had been gearing up for a long time and were eager to try it out shouted frantically like chicken blood. The rest of the matter doesn't need Druckenmiller to say anything, as long as they keep opening positions to raise the price of copper, they have already negotiated a charter for this kind of tactical matter.

"So what are you waiting for, boys, let's start, now!" Druckenmiller waved his hand and motioned for the traders to get to work!

……

In London, Sumitomo Trading's trading room, almost at the same time, all the traders were also called into a small conference room by Yasuo Hamanaka. He was giving a pre-war lecture.

"According to my intelligence, there has been a group of bulls quietly absorbing chips in the market recently, and the number of open positions in the market has reached 100,000 hands, and it seems that it will not be long before they have a large-scale battle, which I estimate will be in these two days, that is, the day when the US economic data for April is released. But gentlemen, our goal this time is not to fight against them, but to work with them to raise the price of copper, because I got another piece of news, which was on the last option announcement day. There are plenty of bearish shili options for execution. That's enough to make enough profits, so we have to go with this bullish rally during this time, understand? "In addition, in the process of pulling up, we have to try to accumulate as many orders as possible. Because according to my estimates. This wave of market should not end anytime soon. After all, the demand for copper in the market is very strong at the moment, and even the fundamentals are supporting us. In addition to dealing with the bears, we also need to beware of other bulls. But I believe that you are all connoisseurs and will not be deceived by other shili, right? ”

The traders of Sumitomo Trading Company present laughed, yes, in terms of cunning, they are not necessarily the most cunning in this market, but in terms of strength, they are definitely the strongest in this market, just by virtue of their financial advantage is enough to collapse a single opponent, and there is also a Hamanaka Taio who has a strong influence on the direction of the market!

……

"Zhong Sheng, the direction of the copper market has changed, are we going to do something?" As soon as Zhong Shi returned to the apartment, the telephone inside rang non-stop, and he couldn't help but wonder a little, it stands to reason that he had already instructed Andrew, if there was nothing special to look for him recently, and now it seemed that there must have been a major change in London.

"What kind of change?" Zhong Shi casually pressed the hands-free button, then turned on the computer, and then sat down in the seat with a steaming cup of coffee, ready to stretch comfortably.

The voice on the other end of the phone was stunned, and then Andrew's voice immediately rang: "Zhong Sheng, are you finally back?" He had been calling Chicago for more than ten minutes, but the answering machine was always working, but now that the market was changing rapidly, he couldn't make up his mind, so he had to dial the number again and again.

"Something to talk about!" Zhong Shi interrupted his nonsense angrily and asked succinctly and clearly.

Andrew here smiled bitterly and said quickly: "Today's copper 3 opening is the closing price of the last trading day, after the opening only slightly fell two points, and then it turned sharply, all the way to Xiangshang, now it has reached the position of 1990 US dollars, it seems that it will continue to rise, and at the same time, the trading volume is rapidly enlarged, and the market has formed a strong bullish sentiment!" ”

"Really?" Zhong Shi replied nonchalantly, looking at the real-time data on the computer, he finally noticed that something was wrong, "Is this the time to launch?" He thought to himself.

"Andrew, how many of our contracts in June haven't been closed?" Zhong Shi thought for a moment, then asked Andrew.

Andrew was obviously prepared for this question, and when Zhong Shi asked, he said without thinking: "I currently hold 320 long contracts open, with an average price of $1,970, and I have already made a floating profit......

He was talking about the account of the Tianyu Fund, which he had always operated, and naturally it was also the funds within his authority. For other funds, he strictly follows Zhongshi's jihua, and has now collected a large part of the spot copper, but these involve physical delivery, there is no leverage, and this part of the funds occupies more than his option funds.

"Your side continues to hold long positions, and at the same time open long positions and go long. Remember, to steadily raise the price of copper, don't become the main force in the market, otherwise you won't know if you are sold by others! Zhong Shi said thoughtfully.

Although the current rally is ferocious, who knows if this is a ploy by the bulls? The bulls quickly pulled up the price of copper in the short term, caught the attention of other shili in the market by surprise, and took the opportunity to reduce their positions, which is a common trick in the futures market.

What Zhong Shi didn't know was that the two bigwigs in this market had decided to raise the price of copper at the same time, and they had accumulated a large number of long positions before that, and they would definitely not let the price of copper fall.

“haode！” Andrew replied, and then Zhong Shi heard him shouting on the phone: "Trade quickly according to everyone's permission, change hands every three price points that rise, reserve one hand as a position for the size of 100 lots, and throw the others out immediately." ”

Zhong Shi, who heard Andrew's order, shook his head slightly, I have to say that Andrew's strategy is a bit conservative, but at all times to maintain a sense of awe for the market, this is a mentality that people who do futures should maintain, and Andrew has undoubtedly done a very good job in this regard.

Here he had already answered Brian's phone, "Mr. Zhong, what is the commission?" As soon as the phone was connected, Brian's slightly hoarse voice rang, and Zhong Shi was stunned when he heard it, he didn't think about it, and asked casually: "Brian, what's wrong with you?" ”

"The market has fluctuated violently, and my phone is about to burst!" Brian sighed and said helplessly.

As he was talking, Zhong Shi heard an exclamation on the other end of the phone, and someone inside shouted loudly: "It's over 2000, oh my God!" ”

Zhong Shi hurriedly put his head in front of the computer and found that the current quotation of copper 3 had exceeded the $2,000 per ton mark, and what was even more surprising was that the price was still rushing upward.

"Open 1,000 more lots, market order, main month, now!" Zhong Shi didn't have the heart to comfort Brian now, and after quickly placing the trade order, he stared at the real-time data on the computer.

Brian on the other end of the phone didn't say much, and after receiving the commission, he began to make a quick call. At such times, time is money, and he knows it better than anyone else.

Not long after the copper price just broke 2000, the bears suddenly pounced, and at the price of 2000 US dollars, they were beaten by the sudden bulls, and they couldn't organize any offensive at all.

Having said that, when the two main bulls in the United States and London were working in the market at the same time, the market's low-priced short orders were quickly swept away by them, and the price skyrocketed by $20 in an instant, which is not over, and the price continued to rise.

This mobilized all the emotions of the market, usually cruising in the direction of the main force of the followers immediately understood, the main force has a big move, although they do not understand what the main force is thinking, specifically to what price to rise, but these can not stop them from quickly opening long positions, and these people's biggest ability is to see a good to close, after earning dozens of dollars per hand, wait until the $2000 position began to close their previous positions.

In this way, there is some pressure on the bulls to pull up, and at the same time, the bears take the opportunity to exert force, and the market is in a state of see-saw for a while, and even some small customers who think they are smart have opened new short positions at the $2,000 position. In their opinion, the price of copper has not fluctuated too much in recent times, and it is rare to fluctuate so much today, and now is the time to short. It's just that these short orders that have accumulated for a long time just happened to meet Zhongshi's new long orders, and it didn't take long to be eaten up, and it only took five minutes for these short orders to no longer play a role in suppression, and the copper price only hovered at the $2,000 position for a while, and then rose again.

"Open another 1,000 lots!" Zhong Shi saw the real-time data uploaded from the computer here, and his heart was relieved, and he couldn't help dialing Brian's phone again and issuing the transaction order again.

……

"Huh? What's going on? On the U.S. side, Druckenmiller scratched his head, a little confused about how the $2,000 level was broken, and he asked each trader out loud, but the feedback was that their positions had not increased much, which meant that it was not their role to go up at $2,000.

The same situation happened in London, after all, the list of long and short sides of the whole number of points is not a small number, and they have to be carefully weighed to eat it in one bite. It's just that what they don't know is that these short opponents were just eaten by Zhong Shi and those dissatisfied followers in their blank period. (To be continued......)

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