legendary trader

Chapter 164 Cowhide Market
At 9 o'clock in the evening, the three of Chen Fan gathered in the small trading room again, drinking tea and eating fruit snacks, and their small life was quite nourishing.

"Which Pentium car your daughter-in-law picked looks pretty good, it's very impressive." Zheng Xiaopang said while nibbling melon seeds, "I want to buy that car and drive it too. The space is big enough for both of you. I'm having fun inside."

Seeing that what Zheng Xiaopang said was a bit out of tune, Chen Fan was not annoyed, and said with a smile, "Why did you buy such a big car, and have fun inside alone? Or find a few big bodyguards to have fun together."

Zhang Yang laughed so hard that he couldn't straighten up and said, "Pangty is probably thinking about that overseas girl. I said Pangty, you should be careful, the gang outside are very open, hahaha."

Zheng Xiaopang laughed and said: "Dare she, really think that Fat Master has no temper? Besides, my daughter-in-law is a lady of everyone, not someone who likes to attract bees and butterflies."

Zhang Yang said: "Whenever you show us the photos, I've been listening to you bragging, and I've never seen any photos."

Zheng Xiaopang said with a sneer: "I'll be back in the second half of the year. How nice it is to see real people directly."

Chen Fan added at this time, "You don't have a photo, do you?"

"Bah, what are you talking about?" Zheng Xiaopang said dissatisfied, "I will know when I say it, and besides, I don't have any photos with me now."

After eating and making a fuss, seeing that the time was approaching, Zheng Xiaopang said to Chen Fan, "You really don't plan to make a big fuss today?"

Chen Fan said with a smile: "It depends on the situation. It's really hard to say now. If I follow my thinking, basically there will be no correction today. It will just push up the stock price layer by layer and force the short sellers to surrender."

The time came to 9:30, and the US stock market opened.

The trend is somewhat similar to what Chen Fan speculated. The Nasdaq index opened 1625.24 points higher at 14 points. The time is consolidating above 1611 points.

Chen Fan called Zhang Yang to place an order to buy the September contract, and the price was basically around 9 points.

Zheng Xiaopang's task is to observe the changes in the three major U.S. indexes and the changes in the stocks in the stock pool. By the way, he occasionally visits U.S. news websites to see if there is any major news.

When it was almost 11:1649.54, I don’t know whether it was the main force of the market or the short sellers couldn’t bear the loneliness and began to cover their positions. The market was pulled up by a wave of buy orders, all the way to 1640 points, and then the market fell into the cowhide market again. Above [-] points fluctuated slightly, which was in stark contrast to the sharp rise and fall of the previous few days.

With the rise of the market, the price of the Nasdaq futures September contract has also risen, and it has been pulled to around 9 points, and it is already on the verge of hitting 1690 points.

Chen Fan and Zhang Yang could only bite the price and sweep up, as much as they could charge.

As for the June contract that is approaching the delivery cycle, Chen Fan has paid little attention to it. As long as he keeps an eye on the market rise, the June contract will have no major problems, unless the short sellers violently cover their positions and let the contract price rise sharply. In that case, it is okay Consider whether to close your position.

The cowhide market is very grueling, and Zheng Xiaopang fell asleep watching it. Although the performance of the stocks in the stock pool is clearly ahead of the market index, the fluctuation of the price makes the market value change become a horizontal line. Not the slightest interest.

However, such a market made Chen Fan very happy, and he could continuously increase the position of multiple orders in his hand. As long as there were no large orders to sweep up the goods, basically the price point would be very stable.

The good days didn't last long, and when it was almost 2 o'clock in the morning, the market began to fluctuate violently.

This was discovered by Chen Fan and Zhang Yang. The price of the September Nasdaq futures contract began to jump up and down. It once shot up to around 9 points, then quickly fell back to 1710 points, and then quickly shot up to above 1695 points and began to fluctuate violently.

Looking back, he saw Zheng Xiaopang, the fat man had already fallen asleep on the chair.

Let Zhang Yang continue to open long positions below, and Chen Fan switched back to the computer to check the market. It turns out that the trading volume of the Nasdaq market suddenly increased a few minutes ago, and the market index has already hit above 1670 points, and the upward momentum has not stopped at all. .

Although the market suddenly became strong, it did not surprise market traders, but at this point in time, many traders were caught off guard.

"Zhang Yang, stop accumulating funds and wait and see." Chen Fan felt that he should be conservative first, and see whether the main force in the market is pulling up or the short sellers are covering the changes.

If the main force of the market is pulling up, then the market may continue.

And if it is a short position to cover the position, it may soon become weak, and no short position is willing to pull up and cover the position, and it will stop soon.

Sure enough, after the market broke through 1680 points, buying orders shrank sharply. In the end, the Nasdaq index just reached 1688.16 points and then began to decline.

Chen Fan didn't intend to enter the arena right away, so he and Zhang Yang sat there with a cigarette and chatted while watching the market.

After nearly an hour, the market gradually fell back to around 1640 points.

"Xiaofan, what do you think of today's market, is the market force you mentioned making any moves today?" Zhang Yang asked.

Chen Fan shook his head and said: "I can't tell, it doesn't feel like there is any movement. Only when there are violent fluctuations can it be judged whether the main force is operating. Today is basically a cowhide market, and it can't go up or down. I guess I'm afraid they are going to sleep."

Zhang Yang scolded with a smile: "Sleep ass, obviously it's daytime over there."

At this time, the price of the Nasdaq futures September contract also fell, and Zhang Yang's previous long orders had already begun to be traded.

"Okay, let's start working too." Chen Fan said as he stubbed out his cigarette, and moved his hand to the keyboard to start typing.

Zhang Yang took a deep puff before he extinguished the cigarette, picked up the teacup on the table and took a sip, got up to refill his and Chen Fan's teacups before sitting back, and began to enter the market and buy.

In the next hour or so, the market fluctuated within a narrow range of 1635.59 points between 1657 and 20. Chen Fan and the others also took the opportunity to open long positions in Nasdaq futures near 1690.

Until the last half hour of late trading, the market was pushed up by a small amount of funds. Along the not-so-steep ascending channel, the Nasdaq index rose all the way, and finally rushed to 1675.40 points and closed at 1674.75, up 63 points. The increase was close to 4%.

At the same time, the Dow Jones index and the S&P index also rose slightly along with the Nasdaq.

The market has completely reversed from the panic atmosphere in the early stage. No one is worried that the market will enter the ranks of a bull market. Many traders have also begun to turn to be bullish.

The September Nasdaq futures contract that Chen Fan added to his position closed at 9 points. In the last two trading days, Chaofan Investment has opened a total of 1716 long positions, with an average price around 7928 points.

The price of the Nasdaq futures June contract on the extraordinary investment account has reached 6 points and closed at 1700 points.

As the delivery date approaches, the June contract price changes become more sensitive, and as the index continues to rise and approaches a high level, before the market has a clear breakthrough, the price of the September contract has also begun to be suppressed to a certain extent.

(End of this chapter)