Chapter 723 Don't Follow the Rules

The trading volume of Huaxia Shencheng Metal Exchange suddenly increased greatly, and the transaction was extremely active, which quickly attracted the attention of many domestic enterprises.

In addition, at an economic forum not long ago, Huahai University jointly signed a number of economic experts to explain the impact of commodity price changes on the production costs of enterprises, and how to use the financial derivatives market to avoid the risk of systematic price fluctuations in the market. Few companies involved in the production or demand of the electrolytic copper industry have all asked how to operate.

Even many foreign-funded enterprises are quite interested.

Not long ago, Panasonic invested in several new factories in eastern Guangdong Province to produce TVs, air conditioners, refrigerators, etc. Among them, electrolytic copper is the most expensive consumable.

So.

Panasonic also established a small long position on the Shanghai Nonferrous Metals Exchange to avoid possible cost increases caused by rising copper prices.

Some electrical, light industry, machinery manufacturing, construction industry, defense industry and other enterprises are also flocking to it.

He showed a strong interest in forward buying of financial derivatives to avoid the risk of rising market prices.

Not many people know that the market maker behind Shencheng CU, which suddenly became active, is Jiuding Group.

wall street.

Shen Jiannan took a look at the statistical data passed by Lu Shu, his eyes were a little blurred.

It is often said that capital knows no borders.

But it never mentions the price paid by the Jews in Germany because there is no national border.

Now Quantum Fund, Morgan and other investment banks are willing to join forces with themselves to strangle Sumitomo because they occupy the general trend in the United States, but in the future, I am afraid that they will be the target of strangulation by these guys.

Ring ring ring!

The phone rang suddenly.

It was William who called, and the guy said as soon as he opened his mouth: "Boss, my admiration for you is like a torrential river, flowing endlessly. The London Stock Exchange just issued an announcement and set new trading rules, stipulating that the premium and discount are zero to Minus twenty-eight, that hammer is dead this time."

Regarding this news, Shen Jiannan was not surprised at all. Everything, since the collapse of the Soviet Union, had already doomed the fate of the major conglomerates in Japan.

Lost the use value of suppressing the Soviet Union's economy, Japan is so fat, but has no force of its own, just like a pig covered in meat, it can only wait to be slaughtered.

But Shen Jiannan was a little dissatisfied with William's flattery, and said angrily: 'William. When can you improve a bit when you suck up? '

William sighed: "Boss, I have tried my best."

Shen Jiannan raised his eyebrows and said, "How many positions have you established in the future?"

William said: "1.6 billion."

"."

After hanging up the phone, Shen Jiannan watched the trend of copper prices in London, tapped lightly on the table,

Sumitomo is not an ordinary group company. Hamanaka Tainan has been in the copper market for so many years, and he is called Mr. Hammer, which is not so easy to deal with.

Since ancient times in China, some private companies have been eager to deal with them to death when they competed, and even united with foreign capital to engage their own people, and they would even call it attracting foreign capital in the name of attracting foreign capital.

Japan is different.

The Japanese consortium is very united in suppressing foreign capital, relying on each other and attacking and defending each other.

Hamanaka Yasuo holds only 5% of the market position, but he has been able to control the copper price. In addition to Sumitomo's huge background, it is also inseparable from the fact that companies such as Mitsubishi and Marubeni have shares in major international copper companies. relation.

Otherwise, Binzhong Tainan would not be able to withstand the bearish trend of public opinion jointly created by himself and Soros.

Although the UK is now using the rules to set a trap for Sumitomo, it is still a large-scale war to snipe the Sumitomo chaebol.

2950.

The computer interface shows the price trend of copper in London.

When the trend chart is narrowed together, the continuous trend is like rolling hills, and it is like a position full of ravines, full of murderous intentions.

The first is to attack the enemy, the second is to attack the enemy, the second is to attack the soldiers, and the second is to attack the city.

In any kind of war, the easiest way to win is undoubtedly to win without fighting.

Seeing Luntong's consolidating range around 2,700 points made by Quantum Fund and Tiger Fund under his own instruction, Shen Jiannan raised his eyebrows, and a trace of coldness flashed in his eyes.

London, England.

Bin Zhongtai was furious, cursing at his mother, and crazily beating things in the office.

He found that he completely underestimated the strength of international capital.

Shameless strength.

It is extremely despicable and shameless to cooperate with the regulatory authorities and the exchange to suddenly modify the trading rules.

The new regulations of the London Stock Exchange mean that the spot discount must not be lower than March copper 28 US dollars, on the contrary, the spot premium can be unlimited.

In the futures market, if the spot price is lower than the futures price, the basis is a negative number, and the forward futures price is higher than the near-term futures price. This situation is called "futures premium", also known as "spot discount".

The part of the forward futures price that exceeds the near futures price is called the "contango rate";

If the price of the forward futures is lower than the price of the near-term futures, and the price of the spot is higher than the price of the futures, the basis is a positive number. This situation is called "futures discount", or "spot premium".

The part where the forward futures price is lower than the short-term futures price is called "futures discount rate".

Because Sumitomo holds a large amount of spot goods, Hamanaka Tainan has established a large number of positions in the recent contract, which keeps the price of the main contract of Lun Copper at a high level.

Cooperating with Sumitomo's spot registration warehouse receipts, with Sumitomo's capital, you can completely force the position and enter high-priced spot sales.

Spot goods can make money, and futures squeeze manipulation can also make money.

This is the manipulation of Nakatai Nakaehama on the spot.

It is also because of this sharp technique that Hamanaka Yasuo has been able to stay in the position of Sumitomo's chief trader since he joined Sumitomo at the age of 22.

In the past, the person in this position would change every three years at the most.

And this Mr. Hammer stayed for more than ten years.

Over the years, Hamanaka Tainan has brought Sumitomo billions of dollars in profits.

In the past, Binzhong Tainan mainly relied on pulling the March copper contract to squeeze positions, but this time, after meeting a strong opponent, he found that there was a serious loophole in his tactics.

Spot premiums.

Due to the mandatory regulations of the London Stock Exchange, the spot discount must not be lower than $28 for March copper.

But the spot premium can be infinitely enlarged.

This allowed the capital led by First International Capital to catch the tiny loophole and establish a large number of short positions in the forward contract.

Markets interact with each other.

With the continuous decline of the forward contract, Hamanaka Tainan's position is all in the March contract, and he is unable to snipe the price drop of the forward contract.

Affected by the decline in forward contracts, there has also been a lot of selling pressure on recent contracts.

Haminaka Tainan knows.

This move of international capital is because the ulterior motives are not drinking, and the real purpose is to snipe the long positions in his hands.

But there was nothing he could do.

In the March contract, Sumitomo has invested more than 10 billion U.S. dollars, and the futures are all cash transactions. Hamanaka Yasuo has been unable to withdraw more funds to defend the long-term contract.

He can't withdraw funds from the contract to fight back, otherwise he will lose sight of the other and be double-killed by his opponents.

However, affected by the long-term short-selling pressure, in the March contract, the pressure on the bulls is much greater than before.

"Damn bastard!"

"mean!"

After venting hard, Hamanaka Yasuo forced himself to calm down and start thinking.

Now, his only chance is to completely strengthen the trend of the March contract to squeeze out those damn international capital.

At nine o'clock in the evening London time, it is the most active time for copper in London.

Due to the impact of the new regulations of the exchange, London copper opened sharply lower and was severely suppressed in the intraday session, with a drop of 7%, approaching 2750 points.

In the early stage, the position of 2700 points was consolidated for half a month.

This means that the position of 2700 points is equivalent to the defensive position between the bears and the bears, the difference between life and death.

There has never been absolute defense in the world, so the best defense has always been offense.

From the perspective of the bulls, if they want to move back to the current disadvantage, they need to defeat the negative news brought by the exchange, destroy the short funds in the market, and force these bastards to cut their positions.

Only by defeating the attacks from the bears can the camp of the bulls be maintained.

There is only interest under capital.

As long as you pull up the copper price and force some small retail investors to cut their positions, those dried shrimps will become buys, putting tremendous pressure on the short side's camp.

No one is indifferent in the face of losses.

Once the pressure is too great, short positions will actively stop losses or passively close positions, which will become a new force in the long camp.

If that's the case, then it's a safe bet.

The flickering transactions on the handicap made Binzhong Tainan a little upset. He resisted the urge to get angry and said to the trading team: "Push the price up for me. Before the market closes tomorrow, we must give the price to you." I break all technical pressure from above."

As one of the oldest consortiums in Japan, Sumitomo's strength will always be unfathomable.

The heritage of more than four hundred years, to some extent, is even worse than that of a family like Morgan.

With Binaka Tai his command.

The trading team strictly executed every transaction, and continued to plummet, and began to rebound quickly under the large amount of buying.

Not long.

The price rose from 2750 points to 2890 points.

City of London, a small gambling trading company.

Roger looked blankly at the liquidated positions on the account, feeling that all his strength had been emptied, his blood had been drained, and his mind went blank.

Seeing the bad news from the exchange, he established a large short position on March Lun Copper, full of expectations, hoping that this time he can completely realize financial freedom.

But what is it now?

Shorted by yourself, but liquidated?

On the opposite side of Rogge, Coster also had a blank face. He deposited 6,000 pounds and made a long position of 60,000 pounds. The instant the market opened, he had already lost everything.

The two looked at each other, and a chill came from the depths of their hearts, making each other even more confused.

an hour.

The entire market seems to have turned into a money-wringing mill. I don’t know how many speculators are not human inside and out, and all their funds have been strangled.

And Tainan Binzhong looked at the rising trend of copper prices, and his expression was determined: "Think that if you change the rules, I'm afraid of you?"

First International Capital Trading Office.

William dragged his chin, silently watching the crazily flickering boards in the market.

On the handicap, a large number of buy orders flashed quickly, and those small empty orders were all eaten up.

Before long, a large number of short positions began to appear.

It was a stop loss order that was killed under the fast attack of the bulls.

It seems that the bulls' offense is very sharp.

It's full of momentum.

However, William smiled.

If the strength of the bulls is really sufficient, there is absolutely no need to engage in this kind of raid and snipe to kill the small funds in the short side.

Obviously, Binzhong Tainan couldn't sit still.

But he probably would never have thought that he was already here waiting for him.

Looking at the same increase in the price of the forward contract, William deeply admires his boss's despicable and shameless feelings, and Hamanaka Tainan may be very angry when the joint stock exchange amends the regulations.

"Boss, it's 2890."

A trader yelled.

William wasn't in a hurry at all, how would he make money if he didn't trap Sumitomo further: "Let them go first, and then we'll help them pull. Luo, add five thousand more longs."

2891 buy 100

2891 buy 100

2891 buy 100

2898 buy 100

Following William's instructions, Lun Copper's trend was like a rainbow, and it quickly recovered the sharp drop at the opening, reaching yesterday's closing settlement position.

At 19:00 London time, the London Metal Exchange is closed.

At the end of the day, under the strong impact of the bulls, the London copper price soared by nearly 4%.

A big positive line directly broke through all technical moving average suppression.

Final closing.

The price of Lun Copper has firmly stood above all technical supports.

Such a huge increase, in addition to the active attack from multiple parties, those short stop losses that were killed also contributed a lot.

Under the skyrocketing, even many short sellers defected on the spot and joined the long camp.

Under this big positive line, the weakness of the bears immediately reversed.

It not only changed the previous trend of head and shoulders that may have been formed, but also made the trend of Luntong form an N-up offensive posture.

Technically speaking, this technical form means that Luntong is likely to launch a second round of upward attack.

On the same day, a large number of technical selling orders were forced to stop losses.

The bear camp shows signs of being forcibly broken up.

Office of the Minister of Sumitomo Nonferrous Metals.

Binzhong Tainan was lying comfortably on the sofa. Wearing glasses, he no longer had a trace of worry on his face. He gently stroked Jiang Lizi's long hair with his hands from time to time, with a sense of joy and joy of a master.

So what about First International Capital! It's not that he was killed by himself, but as long as he is forced again tomorrow, all these bastards can be wiped out.

boom--

Suddenly, someone broke into the office directly.

Binzhong Tainan was startled, and Ono Yamashita from the trading department said in a panic: "Minister, it's not good, the British and American Securities Regulatory Commission will organize a joint investigation team to investigate..."

Before Ono Yamashita could finish speaking, two middle-aged men with western faces appeared at the door.

One of them took out a certificate and showed it.

"Mr. Binzhong Tainan, we are from the securities supervision and investigation team. Recently, we received a report that someone accused you of illegally manipulating the copper market. Now we need you to cooperate with our investigation."

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