Future chat group

"Believe me, keep the spot price stable, don't worry about futures, don't take over, let it fall, let it hang upside down." On Monday the 13th, sitting in the office, Lei Hao was communicating with Xinfeng.

"The problem is, we are not sure whether these orders come from large funds, maybe from retail investors?" Shan Zhenjiang's voice rang on the other side of the phone.

"Why should a single manager deceive himself? You can also see the trend in recent days." Lei Hao explained: "If it is loose funds, wouldn't that be better?"

"Thunder's cost line is below, of course Mr. Lei doesn't have to worry too much." Shan Zhenjiang muttered, thinking of this, he felt a little angry and aggrieved.

"If Xinfeng wants to take over, that's fine. I personally have no objection." Lei Hao was too lazy to talk to Shan Zhenjiang and said directly.

After expounding their opinions to each other, Lei Hao hung up the phone, feeling a little helpless.

For long-term operations, unless your capital volume crushes the entire market, otherwise, you have built enough positions. The more people hold positions above your cost price, the safer you will be.

In Shan Zhenjiang's office at Shanghai Stock Exchange, Xinfeng Futures, besides him, Gu Changzheng was also sitting drinking tea.

When the plan has advanced to this point, Xinfeng is actually satisfied with the number of positions they hold. It is okay to hand over the battlefield to others, but the other party's strength, operation direction, and operation methods are uncertain, and there are risks involved.

"If, I mean, if the other party mobilizes short-selling sentiment, how much capital do we need to catch the market?" Gu Changzheng took out a cigarette from his pocket and asked with some uncertainty.

"It depends on how much funds the other party uses." Shan Zhenjiang hesitated and said, "In fact, the more funds the other party has, the more I should take a step back."

"Without bulls, there would be no bears." Gu Changzheng raised his head with a smile in his eyes.

"Yes, there is no corresponding long takeover, and a shrinking decline is not a decline." Shan Zhenjiang also had a smile on his face: "Even if he is allowed to mobilize his short-selling sentiment, it will be the same as Lei Hao said, he wants to establish a position , the only way to do that is to go long and get back to the target.”

"That little Yangcheng tiger." Gu Changzheng was silent for a while, and finally just sighed and said nothing.

Lei Hao's plan is simple. He saw relevant fragments in the future information. When Thunder and Xinfeng have sufficient positions, it is no longer wise to use funds to accept too many selling orders.

Then there is only one way, so that the other party can only do long.

To achieve his goal, Lei Hao needs to confirm several things. The first is that the other party has a large amount of funds. In this case, they will not be satisfied with the short-selling method with less room for building a position;

The second is that the other party has sufficient spot positions and holds a lot of new funds for spot warehouse receipts. Short selling is a kind of hedging arbitrage, while going long is a unilateral position. The spot and futures ends are in the same direction;

The third is that the market must have enough space.

To sum up, these things are all hypothetical. Xinfeng is only 60 to 70% sure of this. Their original plan was not to give up the battlefield, at least not to give up their own strategic space.

Lei Hao's opening price is less than 10,400, and Xinfeng's opening price is 10,700. The difference between the two sides is 300. This is a very large area in the futures market.

Let Xinfeng hand over the battlefield to the other party? Why? They actually really want to compete with the newcomers.

"In late March, the trading volume exceeded 3.5 million contracts. According to China's long-short two-way measurement method, there were 1.75 million buy and sell contracts, which means 8.75 million tons. What can Xinfeng do to fight for it?" Lei Hao A piece of information flashed through his mind that frightened him.

China is the largest cotton consumer. There is a saying in the cotton futures market that "the world cotton price depends on China." In this country with 200 million people engaged in related industries, cotton is a strategic resource second only to food.

But if it weren't for the display of future information, Lei Hao would not have expected that the market would be so crazy. The expected cotton consumption this year is not as large as the daily trading volume of the futures market. This is simply... outrageous.

It was also after knowing this information that Lei Hao determined that he had to let go of the battlefield. He could not stop or prevent the possible entry of bulls.

The only thing he is sure of is that if it falls below 10400, then he will increase his position. Here, he cannot be afraid and does not need to be afraid.

"With the increase in volume, the main force will take over? Beat the drum and pass the flowers? This is the game I am least afraid of." Lei Hao became confident and determined again.

When the market breaks away from fundamentals, the underlying commodity changes from a rigid demand to an investment item. At this time, the way of playing the game has actually changed, from fluctuating around the value line to fluctuating around the price line and psychological line.

With future information, Lei Hao can retreat before the market psychology changes, or he can add positions at the appropriate time, but... not now.

Now is the time to open your arms and recruit your troops.

February 13th passed in the blink of an eye, futures prices shrank and fell, and the price of 10715 began to approach Xinfeng's position opening price.

On Valentine's Day the next day, Lei Hao sent a bouquet of flowers to his girlfriend, and then...went back to the company to read the orders all day, and only spent the evening with Qiu Yuting for dinner and a date.

On the third and fourth days, the market seemed to be involved in a shrinking decline. From 10715 to 10675 to 10615, the decline was not small, but the trading volume was too small, and the floating chips were not enough for the main force to build positions.

On Friday the 17th, bad news for the market emerged. The expectation of reserve releases in March was like a mountain on many people's minds. The downward pressure suddenly increased sharply, and the number of short orders increased.

At this point in time and at this price, Xinfeng quietly turned a deaf ear to Lei Hao's words and began to accumulate funds on a small scale, waiting for the price to continue to fall, and they wanted to increase their positions.

"What a pig teammate." Lei Hao looked at it, relieved and a little helpless. The interests are touching. Xinfeng's obedience is only if you can help them make money. The greed of capital has no bottom line. It is also because of this that their suction Only when you raise money will you be cautious and wait for the price to continue to fall before counterattacking.

Within Thunder Investment, Leo, Zhao Lichen and Yu Rong are also keeping an eye on the market. They believe in Lei Hao, but even if they believe, they are still worried.

"He doesn't have enough short positions, he doesn't have enough short positions!" Lei Hao looked at the market firmly.

Will you close your position? You mobilize short sellers to follow the trend, and then, what will you do?

You will definitely fight back! You will take a long position! The current short position is not even enough to hedge your spot position.

These thoughts flashed through Lei Hao's mind. Seeing that there were more and more selling orders, and seeing the contract price hovering above 10,600, he couldn't bear to take it.

Suddenly, there was a sharp increase in selling orders in the market, and a large number of selling orders overwhelmed the price of 10,600, quickly pushing it to 10,550, and then hitting 10,500.