On October 21st and 22nd, everyone was basically watching the market. It was only before the market close on the 22nd that Sun Dahai ordered to enter the market to go short again. This time, the objects of opening positions were still S&P 500 Index futures and Nikkei
225 index futures.
The position opening work on the 22nd was only half of the previous position. Sun Dahai was not in a hurry. He told Xing Wenyan and Laursen that there should be opportunities on the morning of the 23rd and they could continue to open positions.
Microsoft's stock price rebounded quickly with the support of buybacks, and traders on Sun Dahai's side did not get much floating chips.
Despite this, Sun Dahai did not agree with the trader's suggestion to forcefully raise funds by raising the stock price.
He knew it well, despite the fact that small shareholders are relatively stable now and have a strong reluctance to sell. When faced with the second round of decline, all the floating chips will be shaken out.
In the past few days, Sun Dahai also received a call from Wu Dawei. Fan Zheng is still in London. He asked if he could buy shares of Anloni Leather Company now. There were still two weeks before his time window for securities lending.
Sun Dahai specially called for Laurson, and the two looked at the situation of the London stock market together.
The stock price of Anroni Leather Products has plunged from a high level, and the current stock price has returned to below six yuan. This is actually the price of Anroni Leather Products Company when Sun Dahai's revenge began.
Although Tony tried his best, under the global stock market crash, his power was too weak. After losing the hype theme, the high stock price of Anloni leather goods was simply not something that the Masardino family could support with their own strength.
Got up.
When the stock market crash came, the share price of Anroni Leather Goods was still kept at a high price zone of around 11 yuan by Tony. With the outbreak of the stock market crash, the share price of Anroni Leather Goods was cut in half in just two trading days.
After analysis, Sun Dahai and Laursen both believed that the stock price of Anroni Leather Goods still had room to fall. It felt like it was a little early to start redeeming it now.
Therefore, Sun Dawei's reply to Wu Dawei and Fan Zheng was to ask them to wait a few more days for the second round of decline to then redeem the one million shares they borrowed at the bottom.
After two days of brief rebound, the market turned downward again in the afternoon of the 23rd. Today is Friday, and speculators who entered the market to rush for the rebound have all left the market, thus declaring the official end of the rebound.
In fact, when Sun Dahai ordered to enter the market yesterday, the rebound had already shown a lack of stamina. After losing enough momentum, the rebound naturally ended.
Many rational investors are waiting to wait for the market to truly stabilize. Only then will the risk of entering the market be reduced to a minimum.
The originally unscrupulous bulls suddenly became less courageous after being taught the lesson of Black Monday. Even if medium and long-term buying points now appear, they still have to hesitate again and again.
The only active funds in the market now, apart from the funds used by large companies to buy back stocks, are the all-pervasive speculators.
They are like hyenas on the grassland, traveling in groups, looking for opportunities for them to bite.
Therefore, Sun Dahai entered the market again at this time, which was not eye-catching. The trading in the market was very active. Although it was relatively chaotic, the trading volume was very large.
On the morning of the 23rd, the trading team finally completed the opening of positions. There were a total of 100,000 short orders for S&P 500 index futures, 30,000 short orders for Nikkei 225 index futures, and 30,000 short orders for Dow futures.
The margin alone for these short orders occupies US$1.5 billion in funds, which is just over half of the US$2.9 billion in funds currently controllable by the trading team.
In particular, Sun Dahai has made it clear that the purpose of building a position now is to do short-term business, and he will earn the profit from the second decline of the market to establish a bottom. He has opened a 50% position in one go, which is already very heavy.
It is not uncommon for large funds to engage in short-term trading, but it is very rare. Because of the large amount of funds and heavy positions, short-term entry and exit is not only very eye-catching, but also may not be able to complete the transaction as planned.
This is why retail investors can go long and short in the big market, making money back and forth. But really big funds generally only do one-way market, and use high selling and low buying to reduce the cost of holding positions in the repeated market conditions.
reason.
However, the market situation is different this time. The sudden plunge has disrupted the rhythm of almost all investors. Huge amounts of funds have appeared in the stock market and futures market. Some are buying back stocks, some are seeking hedging, and some are speculating for profit.
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Therefore, Sun Dahai's short orders of more than 10 billion US dollars (margin of 1.5 billion, which is 10% of the contract value) were traded in different markets, so they were quietly mixed in.
The 23rd is a weekend, so in the afternoon, regardless of the Asian trading or the US trading, bulls have left the market one after another. The market is closed for two days on the weekend. Who knows what news will be released?
However, according to usual practice, the news released at this time will most likely be negative. Most of the bulls at this time are betting on short-term rebounds, and people do not want to become long-term shareholders.
Although many large companies in the stock market announced that they would conduct public buybacks, due to the sudden incident, the companies' repurchase funds were insufficiently prepared. This was more of a positive concept to support the rebound of the market.
Now that Friday is here, all companies have involuntarily slowed down their buybacks and are preparing to wait for the weekend. On the one hand, they can further raise funds, and on the other hand, they must observe policy trends.
It plunged at the end of the day and fell by more than 2% again, swallowing up the rebound results of the previous two days. Fortunately, the closing time has arrived, so this week's market ended.
In the evening, after the U.S. market opened, new problems arose. A large number of investors panicked and sold U.S. dollars in large quantities on the foreign exchange market, causing the U.S. dollar to depreciate sharply.
Affected by this, the stock market and futures market turned downward in the afternoon (US time) and officially began their second bottom.
Sun Dahai and the trading team had completed opening positions at this time, so everyone happily watched the excitement while waiting for others to carry the sedan chair.
After the U.S. stock market closed on the 23rd, it was already the early morning of the 24th, Hong Kong time. It was still early at this time, so instead of waiting for breakfast to be delivered from the staff restaurant, Min Rou’s administrative staff made a large pot of shrimp wontons for everyone in advance.
After everyone ate the noodles, they quickly went to bed.
Because Sun Dahai had already agreed in advance that the entire trading team would be invited to have hot pot together at noon today to reward everyone.
At noon, everyone in the American group got up, and everyone gathered in the restaurant, divided into two large tables according to men and women, and ate hot pot together. The ratio of men to women in the trading group was almost the same, so the table division was just right.
Fish, shrimp and shellfish, fat beef and mutton, duck intestines and yellow throat, brain louvers, fungi, soy products, vegetables, etc. Anyway, the common shabu-shabu dishes are all available here, and there are two large tables filled with them.
