legendary trader

Chapter 340 Chapter 341
The Nasdaq market showed a trend of rising rapidly. The index continued to rise after easily breaking through the high point set yesterday. It rose directly to around 2242 points before showing signs of weakness again. It was very active for a while, causing the Nasdaq to fluctuate violently at a high level. After reaching the highest point of 2245.35 points in the session, it finally completely lost its upward strength and began to fall slowly, looking for support.

The Nasdaq futures also became active again after the Nasdaq broke through the high point, but it is obviously not the funds that had previously exited the market to push up the price, but the result of the joint efforts of the bulls in the market, and the shorts are a bit defeated at the moment. During the rise of futures, the trading volume has shrunk significantly, and at the same time, there have been empty orders in the market, which shows that some short-selling institutions have chosen to temporarily stay on the sidelines.

During the whole rising process, Chen Fan watched with cold eyes, watching the market with a smile, while I stood still.

Such a calm and indifferent attitude surprised Zheng Xiaopang next to him. If it wasn't for Chen Fan's disapproval, he would have already imagined that he would end up shopping like yesterday.

Although Chen Fan didn't do anything during the stock market's rise, he glanced at the trading data of the futures trading team from time to time with his eyes, nodded from time to time, not bad, and seized the opportunity to increase his position.

On the trading team, some accounts that originally sold stocks have begun to cover their positions. It seems that the sudden strength of the market today has changed the attitude of those traders who want to wait and see for a while, and they are now bullish on the stock market, at least in the short term. There are some changes.

However, because the Nasdaq futures are only operated by some long-term institutions, there is a lot of lack of strength in the rise. A large number of long orders are hung on the purchase price, and there is no upward momentum. Therefore, the Nasdaq futures are weak after reaching 2366 points. , began to fall slowly, and the short sellers did not take the opportunity to smash the market. The price of the Nasdaq futures March contract fell into a state of equilibrium again after falling back to 3 points, and began to fluctuate slightly.

What surprised Chen Fan even more was that after the entire upward trend ended, the data from the exchange showed that the open interest of the Nasdaq futures March contract actually increased by only a few thousand lots, which means that the funds that actually opened positions in this upward trend were actually Not much, so many short-sellers lost their orders, and Chen Fan's trading team also got nearly 3 more orders.

Then the market began to calm down gradually. The Nasdaq found support near the previous high point. The index began to fluctuate between 2230 and 2240. To the short-lived cowhide market state.

In the futures market, after the Nasdaq futures March contract gained support around 3, it began to rise slowly again, because there were no short institutions in the entire market to take the lead in suppressing it. The high price did not encounter too much pressure, but because of the scarcity of empty orders above, as the Nasdaq futures rose, the trading volume continued to show a shrinking state.

"Tell me, if the Nasdaq futures shrinks and rises like this, will the big institutions on the long side feel that they will give up because they have no opponent?" Zheng Xiaopang suddenly asked Chen Fan who was in deep thought, "If they are attacked by a short institution If we do, will we be miserable?"

"Probably not, unless the price is really high, bulls don't dare to bet against shorts." Chen Fan shook his head and said that he didn't know.

"The current transaction is too small. I think we have really delayed by keeping so much money in our hands. Should we continue to increase our positions in the stock market? If the futures need funds, we can just sell tickets." Zheng Xiaopang saw the futures The position of the March contract here is only 3 lots, and the funds occupied are only 3 million yuan. Compared with the 12 billion funds in the current account, it is too wasteful.

"Let's look at it again. I think that if we want to let short sellers enter the market, the current trend really can't attract funds to enter the market for them to take orders. I think the main force will have a way to attract people. Let's just wait and see. Stop." Chen Fan still shook his head, speaking in a very firm tone this time.

Chen Fan also felt that the current optimistic atmosphere in the market seems to be strengthening. Under such circumstances, it is unlikely that there will be major short sellers in the futures market and the stock market. How can everyone be bullish?
Then it is necessary to stir up the market and let some people be bearish on the market, so that no matter whether it is in the stock market or the futures market, there will be opponents.

But looking at the current stock market, it seems that if it rises like this, there is no problem with the bulls, and they will only grow stronger as the market continues to rise, but what about the bears?
Chen Fan looked at the market and began to think wildly again.
Zheng Xiaopang looked at Chen Fan and became silent again, thinking that he thought of something important, so he didn't dare to disturb him, and just got up silently to refill his teacup.

I don't know how long it took, Chen Fan finally came back to his senses, shook his head, and saw that the stock market was still the same, still consolidating below 2240 points, while the Nasdaq futures had already crossed the high point and are currently oscillating around 2380 points. There were a little more empty orders for a while, which allowed the market to enter a short-term balanced market.

Feeling a little tired, Chen Fan got up and said to Zheng Xiaopang: "I'll go back to rest first, I feel that there should be nothing to see tonight, it should be like this, but it's just to see where the closing is, I guess I don't have much to say these days , It should be a trend of rushing higher, and the key may be how to go after the rush.”

After finishing speaking, Chen Fan turned around and walked out. While walking, he said to Zheng Xiaopang who was sitting there dumbfounded: "You can also go back to sleep. You probably won't be able to operate these days."

Seeing that Chen Fan had already reached the door, Zheng Xiaopang got up belatedly, and quickly followed, "Wait, what do you mean?"

On the afternoon of the second day, in the tea room of the resort, Chen Fan and Zheng Xiaopang sat facing each other, drinking tea and listening to light music, enjoying themselves very much.

"Look, you guessed wrong last night, there was still an increase before the market closed in the early morning." Zheng Xiaopang said jokingly while sitting there.

In the early morning, more than half an hour before the close of the market, the Nasdaq market suddenly started a wave of rising market. The Nasdaq index was directly pulled up from 2236 points to 2251.77 points. points, an increase of 2251.27%.

The Nasdaq futures also followed up after the stock market rose. After the stock market closed, the Nasdaq futures rose sharply. Obviously, the good trend of the stock market at the end of the stock market made the short sellers in the futures market even more frightened. Not only did they dare not continue to increase their positions, but on the contrary Under such circumstances, many short institutions closed their short positions on a large scale in the last half hour. As a result, after the stock market closed, the Nasdaq futures showed a sell-off market. In the end, the Nasdaq futures March contract closed at 3 points, and other contracts were closed. There are varying degrees of rise.

Chen Fan just smiled and didn't speak.

After waking up today, he was a little surprised when he saw the closing of rice stocks. He really didn't expect the stock market to be so stable.

Originally, Chen Fan thought that the market would go up, but when he thought about the lack of short positions in the market, especially in the futures market, the long positions would have no opponents, so the market would not make much profit if it went out of the market Opportunity, so Chen Fan guessed that the market may change. In the recent period, a retaliatory decline was carried out to strengthen the short position. As the saying goes, it is to raise pigs.

But now it seems that he was wrong. The rise of the rice stock market in late trading shows that the market is still very strong, at least in the near future, and there is a high probability that the rice stock will continue to rise tonight.

Chen Fan couldn't hold it anymore. It is said that there must be an opponent to start the market, otherwise the main force can only make money in the stock market, and lose the huge profit channel of the futures market.

However, in the current trend, there will be no large institutions in the futures market to enter the market to short. Just based on how much money some small and medium-sized institutions can earn, even if they blow up their positions, it is estimated that they will not get much money.

Although Chen Fan is assisted by supernatural powers, he can know the upside of the market in advance, but the current trading volume and open interest in the futures market are somewhat limiting the increase in his position. If his futures position is too large, he will definitely be discovered.

If you want to expand profits, you can only start in the futures market, and the stock market is a bit slow to come up.

To earn enough profits in the futures market, you must have enough positions in your hands. The current market certainly does not support them to increase their positions significantly. It can only be when there is a short position in the market and when there is a fierce battle between the long and the short. A large increase in positions is relatively hidden from being discovered by other market participants.

What Chen Fan was worried about was when the stock market high point he could see occurred, whether it was the middle of the month or the end of the month.

Because if there is a high point in the stock market in the middle of the month, what will happen next? Even if there is a high point in mid-February that I will see, but in the middle of a month, God knows what kind of shocks the market will come out of. What kind of sudden plunge, especially if a certain central bank goes crazy and really plays the game of raising interest rates
Even if the high point does not appear in the middle of the month, but appears at the end of the month, does the market keep going up like this?

Should the futures market not bet against short positions?

Chen Fan has been thinking about this matter since he woke up, how to maximize the efficiency of the funds in his hand and earn the maximum profit, but he still hasn't figured out what the main force of the market will choose to do in the future, how to attract short funds to enter the market.

Or this year's so-called big stock market is simply wishful thinking.
Maybe it was a rush at the beginning of the year, and then the market started to boil. Just like most institutions imagined, the market is anticlimactic this year. It is necessary to start an adjustment to the rising market in the past few years. Is the bull market really over?

Feeling that he was thinking too much, Chen Fan retracted his thoughts and smiled at Zheng Xiaopang: "It's a good thing to go up, if you make mistakes, you can make money, then I'll make mistakes every day, hehe."

Hearing Chen Fan's self-mockery, Zheng Xiaopang didn't laugh, but asked with great interest: "Have you thought of something? I think you seem to be thinking about something all the time."

"Really? Actually, I didn't think about it. I was just thinking about the futures market. I originally thought that I could make a lot of money in the futures market, but you have also seen that there are no big short positions in the futures market, and you can't take a big position at all." I can't make any money." Chen Fan shook his head mockingly.

"That's something that can't be helped. No one enters the market to sell short, which means that we are right to be bullish on the stock market." Zheng Xiaopang said with a sigh of relief, "Don't put too much pressure on yourself, it will be fine as usual."

"Last year when we were operating rice stocks, we didn't think too much about it. Everyone happily made all the money, and made a lot of money that we didn't expect." Zheng Xiaopang looked at Chen Fan with admiration in his eyes , "We are very content, you can relax in the stock market, don't be afraid of anything, just do your best, um, go back to the original way."

Chen Fan nodded after hearing this, feeling very warm in his heart. Although he was sold by Zheng Xiaopang, Xiaopang has never had any bad intentions, and has always been good for him. Chen Fan knows very well in his heart and feels that he can deliver Such friends are also lucky.

Who would have thought that a second generation could study in their school, and was lucky enough to be in the same class and a dormitory.

"Actually, I don't have any pressure, I just want to make more money." Chen Fan said with a smile, and then his expression became serious, "What I'm worried about now is the big market we thought, and whether there will be a big market this year."

"You analyzed the market, now you think there may not be a big market?" Zheng Xiaopang also immediately changed his face, "Brother, if there is no big market that you analyzed this year, then it is very likely that the market will plummet. Are you kidding me!"

Chen Fan saw that Zheng Xiaopang's face turned pale in an instant, and he frightened the fat man into this with a few casual words. He felt a little speechless, and hurriedly waved his hand and said, "I just think that way, but I also think it's very unreliable. .”

As he said that, Chen Fan smiled and continued: "We have all participated in the analysis of the market. Everyone knows the situation outside the market. It should be said that the possibility of the market is very high. I just think that the current market is not as good as I originally imagined. It's a little bit different, no short sellers are there"

Chen Fan and Zheng Xiaopang chatted in the tea room all afternoon, and the two also made some deduction about the subsequent trend of the market, but neither of them made a convincing guess.

After 8 o'clock in the evening, the two returned to the trading room, waiting for today's rice stocks to open.

Usually at this time, the two of them usually chat very relaxedly, but because of the exchange in the afternoon, the expressions of both of them are a bit serious, opening up the trend of Nasdaq futures for the first time.

Today, the Nasdaq futures fell slightly after opening flat, but the price still stabilized around 2410 points. It seems that it is also waiting for the stock market to open. After one night, those institutions have gradually calmed down, and they are all waiting for the final direction of the market.

(End of this chapter)