legendary trader

Chapter 177 How many years can oil be mined?

Chen Fan analyzed according to Zheng Xiaopang's train of thought, but he still couldn't think of the reason for the rise in oil prices, and the ability test didn't have the slightest brightness.

After only a little delay, Chen Fan said to Zhang Yang: "Increase the short order and increase the position as much as possible, there shouldn't be a big problem."

After finishing speaking, Chen Fan modified the settings of the trading robot, increased the selling frequency and the number of short lots, Zhang Yang also began to increase the number of single lots, and the positions of extraordinary investments began to increase rapidly.

When Chaofan Investment increased its short-selling efforts, other funds in the market seemed to have adopted similar strategies one after another. With the rapid entry of short orders, oil prices began to fall slowly.

Soon both on- and off-market funds discovered that as oil prices fell, short orders increased instead of decreasing, and the rate of decline also began to accelerate.

"Hurry up, the price is set directly below 16 yuan, and I'm going to dive," Zheng Xiaopang yelled at the side.

After a large number of empty orders fell into the market, the price of crude oil plummeted like a waterfall. The oil price quickly fell below the 16-meter mark. It only resisted around 15.80 yuan for a while before diving down again. It fell all the way to 15.42 yuan before stopping. In the downtrend, the oil price rebounded slightly to 15.50 yuan, then continued to be weak, and fluctuated around 15.50 yuan.

After the oil price fell to 15.50 yuan, the trading volume began to increase, showing that there are funds that recognize the current price and have begun to buy the bottom.

However, due to the continuous selling of empty orders above, the oil price could not form a strong rebound, and it was still unable to build an upward channel.

Chen Fan looked at the transaction data in the background. So far, there are only 9 short positions in the crude oil futures September contract, with an average price of 3712 yuan. Most transactions are still around 16.35 yuan. There are not many transactions in the diving stage.

After reading the transaction data, Chen Fan shook his head and said, "The volume has shrunk today, so it is estimated that the bulls will start to panic now and continue to sell short."

Zheng Xiaopang interjected: "Aren't there a lot of long orders entering the market now? How could it be possible to shrink and fall."

Chen Fan said: "I mean without strong bulls, without strong support, the bulls will not be able to gather together."

"Those institutions are not fools. Eighty percent of the funds entering the market now are just the funds for gambling rebound. Once empty orders continue to enter the market and the rebound is hopeless, it is estimated that a lot of funds will immediately close their positions and leave the market." Zheng Xiaopang said without hesitation Said, "Such funds generally surrender very quickly. It is estimated that the resistance will last for 10 minutes at most, and they will run away if no new funds enter the market."

Chen Fan shook his head and said, "The market is too rational now, and a little increase in short orders may scare away the bulls. Look, it's only a few minutes." '

As time passed, after a few minutes, the defense line that the bulls were struggling to maintain began to move down, and the market showed a trend of oscillating and falling. In half an hour, two prices of 15.50 yuan and 15.40 yuan were dropped, and the oil price fell to 15.30 yuan. Only a little bit of resistance appeared nearby.

During this period of time, the empty orders of Chaofan Investment have been pouring into the market continuously, and the positions have also continued to increase.

"Did the gold break 300?" Chen Fan suddenly asked Zheng Xiaopang.

Zheng Xiaopang said happily: "When I came here, I was still competing for the 300-meter yuan. I guess I won't be able to resist for a long time. The general trend is like this. How can I resist if I go against the trend. It's weird. Everyone sees it. It’s empty, there are still people doing long, I don’t understand.”

Chen Fan smiled and said: "After all, it is a low-level area in the past 13 years. There should still be funds to go long. In fact, if it is not gold speculation, I think it is still good to buy some physical gold now, and it is very cheap."

Zheng Xiaopang laughed and said: "According to what you said, if the price of gold falls by one, it will be 270, and if it falls by two, it will be 240. I will enter the market in the middle and go long. If the price of 255 is 240, I will go long on gold. Even if it really falls to [-], I will You can’t lose a lot of money.”

"Fuck," Chen Fan shook his head and said, "I just said that casually, you really used that as a reference, and paid for it yourself."

"Then just wait." Zheng Xiaopang replied casually.

"Something's wrong, there's no more orders." Zhang Yang said suddenly, "Maybe diving again, what should I do, grab a bargaining chip?"

Chen Fan glanced at the computer screen and said, "Grab, the current price won't be available anytime soon."

说完话自己也开始敲击键盘对着15米元砸出100手空单，油价从15.29米元直接被砸到15.12米元，不过瞬间又被多单顶回15.25米元。

"Hahaha, the list below is so empty." Zheng Xiaopang exclaimed when he saw it, "Hurry up and smash it, or someone will snatch it if you smash it slowly."

Although there are still many long orders entering the market, the price line of the September crude oil futures contract inevitably began to decline, and soon the oil price fell below 9 yuan and 15.20 yuan, touching the 15.10-meter mark.

During the period, there was no other sound in the trading room except for complaints that there was no order below to accept empty orders.

Zheng Xiaopang felt bored watching the continuous drop in oil prices, so he had already adjusted his computer screen to the gold trend.

At this time, the price of gold has fallen below the 300-meter threshold, and quickly fell to around 298.6 yuan, stopped falling and rebounded. The current price fluctuates between 298.8 and 299 yuan.

Chen Fan turned his head to look at the computer screen in front of Zheng Xiaopang and asked in a low voice, "It broke 300 points, are you still shorting?"

Zheng Xiaopang also replied in a low voice: "I told Brother Ma that 8% of the position will be completed."

After hearing this, Chen Fan nodded and said, "The safety factor is very high. Now the probability of the gold price rebounding by 7 or 8 points is very low, and the probability of liquidation is very small."

"What about you? How much money do you plan to invest in shorting crude oil?" Zheng Xiaopang asked in a low voice.

Chen Fan thought about it and said: "It should not exceed 1 million, and I estimate that it will fall below 12 soon, and then we will gradually reduce our positions."

Zheng Xiaopang was a little surprised and asked: "If you see the bottom, don't you backhand go long?" '

Chen Fan shook his head and said: "I'm not sure now, maybe it will or won't, but I don't plan to put too much energy into it. I think the market demand for crude oil is like that. You see, it has been at 20 meters in the past few years. Consolidation below the yuan, occasionally rushing past and coming back soon, indicating that the supply and demand of this thing is balanced, and there is no reason to rise. Unless."

Zheng Xiaopang asked curiously: "Unless what?"

After thinking about it, Chen Fan said: "Unless a major event occurs in a major oil-producing area, which affects crude oil production or transportation. In fact, it affects the supply side. Or the world's economic growth suddenly accelerates, coupled with the demand for crude oil, otherwise the oil price is likely to It won't go up."

Zheng Xiaopang shook his head and said, "You don't know that it has been rumored that there are many underground resources of oil, and the more they are exploited, the less they will be."

Chen Fan laughed and said, "You said what to do when the oil is exhausted, right?"

Zheng Xiaopang nodded and said: "It must be less and less after using it, so the price will not go up?"

Chen Fan shook his head and said: "It is reasonable to say that oil should be used less and less, but God knows how much there is underground. The news said that it can only be mined for 20 or 30 years. That is based on the existing exploration data and mining data. It is said that if a large oil field is found somewhere in a few years, the data will change immediately. Besides, there are alternatives to this statement.”

(End of this chapter)