Today's one more, big chapter

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Coal warrants continue to rise.

Wang Yan is still recruiting more workers, buying coal and sand, and expanding production.

The coal market in the Great Song Dynasty seems to be a chicken blood, and all kinds of funds and bulls, ghosts, snakes and gods are optimistic about the traditional coal industry, so they have entered the market to grab food. There are more and more big Vs who are depicting the beauty of the traditional coal market in the future, and even quote the theory of "Spa and Fire Civilization" in turn.

Now the news is very strange, it is simply true and false, and even in the end, the negative should be interpreted by Duoliduo.

The mysterious predator who sold a large number of warrants was really despised miserably, and was regarded as a novice in the capital market.

In this regard, Wang Yan Waterfall Khan, but think about the future generations, when Buffett sold 40 yuan per share of PetroChina to leeks, how similar is the scene to now? At that time, everyone was a stock god, and Buffett was despised miserably: "What about the stock god, the yield of the vegetable market aunt in the past two months has been much higher than his."

Perhaps, the high-yield leek stock gods are incremental, they took over the banner of Buffett, and they said that Buffett "stepped short", and then shouted the slogan of "energy century will always rise" to move forward.

And then there was no then.

Fortunately, in later generations, it was the whole people who speculated in stocks, and in the Great Song Dynasty, the people who could enter the "Carbon Exchange" of the three divisions to play warrants were all shark-level, and they didn't have much hatred when they were harvested. It's just that there are big and small sharks, and the soy sauce little shark met the ugly-looking Cao Great White Shark, which is just food, not a friendly army.

So this time it's a dog-bit-dog mouthful, although the big goose was used by the little uncle, but the little uncle is in the opponent of the pit Wang Yan, so there is nothing wrong with it. It's just a matter of sitting and seeing who swims naked in the end. Anyway, Wang Yan knew that it wouldn't be Cao Ji swimming naked. Just like in the afterlife, it is certainly not Warren Buffett who is swimming naked at 6,000 points.

The judgment of the market is not wrong, and the logic of the big Vs is also right. Wang Yan's cash flow is indeed depleted, and the political pressure is also very high. Because Zhang Fangping will not open the treasury to save Wang Yan at a certain time, it is likely that Wang Yan will be beaten on the contrary, calming the anger of traditional coal merchants and saying to them, "This is what Wang Yan did, not me Zhang Fangping."

This can't be said that Lao Zhang has no discipline, but politics has always been virtuous. Chang Wang Yan did the same.

Now these guys who enter the market to take over the market are just too single-minded and have not suffered a big loss.

Trading is trading, and it's not a fortune teller who needs to predict a goal in advance and then invest his strength to fight to the death, which is called a war of believers, not a transaction.

How smart is Ye Qinghua. Obviously, this time you can see that he is a calm and qualified trader, he knows that it is now critical, and the person who enters the critical line is not called a trader but a fortune teller. Of course, it's possible to win, but there's also a half-chance of losing.

The trader's duty is to trade, not fortune telling. Because the size of the fortune teller pressure is half the probability of winning or losing, then according to the principle of statistics, after this fortune teller operates for a lifetime and survives, theoretically he will only not win or lose, and at the same time pay the commission of the volume merchant, wasting expression and time.

So fortune tellers with a 50 probability of winning or losing just couldn't find a job on Wall Street in later generations, but in ancient times they would be sent to a pig pen by the directors behind the scenes.

What the trader does is "trend following", or also called "index following". That is, to bite tightly in the red industry in the general direction, use tactical means to hedge the risks, and the rest is to enjoy the strategic growth of the industry. In fact, this is what Buffett does.

In fact, in the capital market of later generations, people who jump up and down to make price differences may have a very good short-term rate of return, but Wang Yan who really makes a lot of money has never seen one. This is the same as in the military, and tactical superiority is not enough to compensate for strategic mistakes.

Wang Yan can now imagine with his toes, the cunning Ye Qinghua has prepared a pile of cash and is waiting, if the big cloud collapses, he will immediately enter the market to chase the traditional coal warrants. If the traditional coal bosses collapsed, he would wait for those people to trample on each other and finally eat people's corpses at the bottom......

The end of the month has finally arrived, but there is no news of wage arrears from the honeycomb coal yard in Dayan.

This is because the "Coal Bank", which has basically completed the restructuring, has sufficient cash flow to support Wang's expansion.

There have been a few dangerous moves.

The news of the restructuring of the Coal Communications Bank still leaked some partially. As a result, there was one moderate and several slight runs on the Bank of Communications.

No one knew who was doing this, but Da Yan knew that Ye Qinghua did it.

This is Ye Qinghua's confidence in testing errors and testing Wang Yan. At that time, Ye Qinghua saw that the trading volume of warrants was too large, and the selling style was uniform from beginning to end, unlike a group of predators operating but a predator.

Then it is well known that the biggest crocodile on the coal is the little uncle, so Ye Qinghua used some connections to run Cao Ji's Jiaoxing in order to test the Jiaoxing reaction.

As a result, BOCOM has a fairly good amount of cash.

So at this point, Ye Qinghua knew that there was really a moth this time, and it was definitely Cao Ji and Wang Yan, two big crocodiles, who teamed up to loot other leeks.

Because Cao Ji's Bank of Communications is about the scale of cash flow, others don't know, but Ye Qinghua certainly does. Therefore, when Cao Ji was tested to have so much cash, there was only one explanation: the person who sold and cashed out in the coal warrant market was Cao Ji.

So Ye Qinghua, who originally thought that he had passed the threshold and was ready to enter the market, determined that this time the volume climb was still in the stage of "tempting more", so he had to resist the urge to enter the market to chase the rise.

It's a pity that Ye Qinghua is not a believer, but a staunch follower of the trend, and he will not go to fortune telling. If he really enters, it is really called an incremental game, he is incremental, which will lead to the deepening and complication of the capital competition in the coal yard, and will lead to several big sharks fighting to the death until the winner is decided......

"The warrant is broken!"

"A river of blood!"

When Cao Ji, who had completely completed the shipment, publicly announced and Dayan reorganized the "Coal Exchange", this invisible war was over.

Unfortunately, the Great Song Dynasty did not have a limit on the fall limit, so after learning that Cao Ji, the biggest vested interest, had defected to the traditional camp, the stampede officially began, and on the first day, the price of coal warrants was cut in half.

The momentum of shrinking half of the property in the blink of an eye is simply stunning.

At this point, the people who are deeply involved really want to cry without tears. Everyone also knows that the eating appearance of the big goose is already very gentle, and when Cao Ji really bites people, it is a bite to the meat.

Whether it's going up or down, there's definitely a reason.

And now that it is in the stampede, no one has any reason, and the market sentiment is uncontrollable, so no one knows when it will stop falling, not even Wang Yan knows. It can only be calculated that from now on any position is critical, it can be a top or a bottom.

There is indeed a bottom line for emotional catharsis, but the biggest problem is that Wang Yan doesn't know how much financing is involved in it. Sometimes you look really low, but in fact it is still critical, as long as there is the last straw thrown out by someone's hand, you can trigger the liquidation line of those financing allocation, so the bottom that everyone looks at becomes the top, and the next round is called "two point zero", which will once again block all liquidity, and put the various firms behind the scenes into the water together.

The current pessimists, even after seeing that Cao Ji, the biggest vested interest, have abandoned the traditional camp, they all believe that the traditional coal pills in the future will no longer have value, and the warrants will become waste paper.

"Excited, the operation of the Divine Machine is more memorable than the Huaixi battlefield."

"yes, these sharks used to be too arrogant. Since the beginning of the Qingli New Deal, the imperial court has a headache and a foot pain, and it will always be harvested by this group of sharks and led by the nose by this group of sharks. It's not an important material, he doesn't go up, no matter what, but every time the court intervenes, on the contrary, it rises sharply. ”

"The Divine Crane has created a miracle and broken the myth of the undefeated traitors of our Great Song Dynasty. It can be regarded as a hard work, but in the end it failed, Fan Zhongyan let out a bad breath. ”

"Khan, don't compare Lao Fan with Mad Dog Yan, Lao Fan is much more disciplined than Wang Yan, Wang Yan may not be as bad as them, but he is also a profiteer."

"However, it is said that there is an egg for half a day, Fan Gong failed, as for Shenjiyan, he has not been defeated since his debut, provided that he is still a child."

"Speaking of which, the old men don't understand. In short, fall down, give me a fall, it's better to fall to free, everyone has charcoal for fire! ”

"Fool, you wait for nothing. It is true that Dayan is a profiteer, but I think he has a point, and in the end, as long as someone uses it, the general direction of coal prices will be bullish. It's really free, according to the theory of the big bird, there is no more coal. Because nobody invests, nobody goes to coal mining. No one produces coal, but what is the situation where the number of people using fire continues to increase? That will be scarce and expensive, and it will be more frustrating than the original price increase. This is the new strategy released by the gods yesterday. ”

"Wang Cannon is really a profiteer, the difference between him and those traditional coal merchants with crows and pig heads, he sings more and paves the way for his own price increase?"

"Maybe he has a reason to pave the way for the price increase, but I think Da Yan is already very disciplined, and what he needs is to increase slowly, and at the same time make everyone's income higher than before. Only by maintaining the profits of the industry can someone invest, and only when someone invests can the productivity of the industry progress, can the industry continue to expand, and let more people enter the industry to find jobs. ”

"Yes, the new strategy says that the price of coal must rise. It seems that the imperial court also means this, because if they continue to let their traditional coal bosses trample on each other, it will lead to a greater systemic risk, which will drag down many businesses and lead to a wave of unemployment of workers in existing industries, and then all previous investments will be wasted, so that not only will there be no new industries, but many industries will be forced to close. So the theory of the magic machine is that then there will be crazy price increases that all markets can't stop, which is not conducive to all industries. ”

In the street market, in the teahouse forum, there is also a heated discussion about this.

Yes, after the warrant price was cut in half, Wang Yan jumped out to give everyone a shot in the arm, continued to maintain the long-term optimistic remarks on coal prices, and did not go to make matters worse.

Because it will lead to a lot of job losses, and then it will soon lead to a retaliatory backlash from the traditional coal industry. This is bound to happen, it's really not that these profiteers are dead and the price of coal is cheap. Because after these profiteers die, they will be replaced by Ye Qinghua, who is the lowest level, and the forces he represents will take over.

They are all sharks, Ye Qinghua will not be gentler than them, but he will be more difficult to deal with than them.

There will only be one reason for coal prices to fall, and demand will fall. But this is obviously dreaming, when the Xiaoice River continues to deepen, and all walks of life in the Great Song Dynasty wait for the start of development, energy will fall?

Now is the time to stimulate coal demand, maintain profits, and invest heavily in energy development.

To buy the bottom involves valuation. When the market valuation is lower than the true value of the warrant, there is a lot of leeway.

But everyone valuates the same thing differently because of the level of insight and greed.

Now the price of the warrant halved is obviously far from Ye Qinghua's expectations. A large number of cheap assets and skilled workers in the coal mining industry are also waiting for a new home and destiny.

It is obvious that it already has investable value, but taking advantage of the panic in the market, Ye Qinghua and the sharks behind him obviously think that it should be a quarter of the place or even lower to be cost-effective.

The result is the reappearance of the previous form of the navy, but before it was bearish on honeycomb coal and bullish on traditional coal. And now it has become a crazy bearish on the traditional coal industry, and countless big Vs have jumped out to say that the trend has emerged, and in the case of Wang Yan honeycomb coal can be used and successful, the traditional coal industry will be free sooner or later, and the warrant is waste paper.

As for the group of coal bosses who took over the warrants earlier, they are still in a state of losing their minds, and they all feel that the end of the world is coming, and everyone wants to package and sell their warrants and assets to each other, so they are rivals and fight each other.

This led to Wang Yan's shouting being weak again, and he couldn't see the downward trend.

"Ye Qinghua of the dog day is really against the sky, he is waiting to eat the corpses of the group of coal mine bosses, and then rule the coal yard. It would be unscientific for him not to be cleaned up by the big demon king in the future. ”

In the private room of the restaurant, Wang Yan, who was always paying attention to the news, slammed his fist on the table.

Cao Ji looked like he didn't care about himself and said: "Whatever, anyway, brother, I have successfully retreated, and in the future, we will make every effort to develop honeycomb coal." ”

Wang Yan shook his head and said: "This is really not good, if the traditional coal dies, the honeycomb coal will definitely die, and many industries will have accidents." The world is not always simple and rude, one is born and one dies, there is another relationship called lip and tooth dependence. can't be cheap, Ye Qinghua, the turtle grandson, must now intervene in advance. ”

Cao Ji couldn't help but squirt out a sip of wine and said: "Brother Xiao Wang, don't be smart and confused for a while, in this market, sometimes you will die as long as you are confused once." In today's climate, it's not enough to just cut it in half, without enough profits and benefits, without enough corpses accumulating on it, no one will come in and pick up food. With the current news, we can't catch it, and even if we do, it's really not cost-effective. The correct operation should be to prepare cash and observe Ye Qinghua's movements, this turtle son is fine, he will not misestimate, so when we see him make a move, let's also make a move together, and it is not only easy to catch the strength of several parties, but also to make a large profit together. ”

Wang Yan shook his head and said: "I fought this battle, I don't want Ye Qinghua to buy the bottom and pick up cheap, I am different from his valuation of the coal industry, I think it is a reasonable valuation now, and it will not hurt the industry much, squeeze out the water, let those sharks know that it is powerful, and in the future, they will settle down together, continue to invest and develop steadily, this is called the industry." Ye Qinghua obviously came in to speculate rather than invest. There is an essential difference between this, he just wants to take a hard bite and run, leaving a mess that has been harvested twice, and the injuries are worse. has been harvested more, and the hearts of the people in this industry have really dispersed. Compared with the speculative drama in the entertainment industry, I actually prefer to believe that the group of traditional coal merchants who are now being harvested still have feelings and beliefs for the industry. ”

Xiao Cao was stunned when he heard this, but Shaoqing said in embarrassment: "Maybe there is some truth in what you said, but our money didn't fall from the sky, and we really can't catch it in this position, and now my brother can tell you that it is you and I who have run out of cash, and we have a bunch of warrants that are obviously going to fall, and Ye Qinghua will stumble so that our bank of communications will not only be unable to finance but also be run." That situation is that the two of us were harvested by them together, and they were buried together with the group of traditional coal mine owners. ”

"But I think I can catch it. As long as Zhang Fangping makes a move, he will definitely be able to bear it. Wang Yan muttered: "Frankly speaking, if you and I make a purchase, it is too hateful, and it will be taboo for you and me to join forces to eat other people's corpses and rule the entire coal industry." Let Zhang Fangping take the money at a reasonable price, and recover the coal assets and mining rights in the hands of the imperial court, this is the most perfect operation. ”

Cao Ji won't talk about it, although this is still risky, but it is possible to succeed. It is easier for the imperial court to stop the stampede, even if those people don't trust the imperial court and Zhang Fangping, and want to throw them all to Zhang Fangping to take over, the imperial court can also take it, after all, it is the imperial court.

The risk lies in the fact that the imperial court has repurchased a bunch of sky-high assets at a price that is neither high nor low, and will it be able to revitalize and make a profit in the future? If it is profitable, of course, it is a perfect operation, but if the court loses, then Cao Ji feels that Lao Tzu and Da Yan are going to be difficult again, and the brother will be hung up and smoked by the emperor, which will definitely be a pill.

However, considering that Dayan is firmly optimistic about the future coal price and believes that it is a reasonable valuation now, it should also make sense.

"Okay, then it depends on your creation, brother, whether you can fool Lao Zhang into the market to take over depends on your three-inch tongue." Cao Ji could only say this in the end.

"Okay, then I'm going to fool Lao Zhang into eating chicken, it's not the first time I've done it, there's nothing to be embarrassed about. His chicken-eating skills are not good, but what am I afraid of, the worst is to hit the street, and the big deal is that I will be taken to the northwest with him to be neighbors with the barbarians. Wang Yan got up and left......