legendary trader

Chapter 776 777 Fuse
A suspected network disconnection occurred in the trading room. Zheng Xiaopang was talking to the two traders and told them about the failure. At this moment, Chen Fan suddenly said to Zheng Xiaopang: "Little Fatty, check Chanas immediately. Announcement from Daq Market."

"Ah?" Zheng Xiaopang, who was talking about the breakdown, was startled, obviously not understanding what Chen Fan meant.

"Look at the official announcement. It seems that the Internet has not been disconnected. We made a mistake ourselves, and the futures index is still trading."

Chen Fan pointed to a computer screen above, and everyone looked at it according to Chen Fan's words. At this time, the number of the Nasdaq's June contract is still changing, showing the latest transaction price of 6 points.

"You guys sit down first."

Of course, Zheng Xiaopang also clearly saw the fluctuating index price, and then let the two technicians sit beside him for a rest, then turned around and went back to the computer to start the operation.

In fact, He Li also came to his senses at this time. When he saw that the futures and index transactions indicated by Chen Fan were normal, he already had a little guess. However, for accurate information, one must first check the announcement of the exchange. Could be guesswork.

When Zheng Xiaopang logged on to the Nasdaq official website, He Li suddenly said: "It is definitely a stock market circuit breaker, and the reminder has been sent out."

"what?"

Both Chen Fan and Zheng Xiaopang said in surprise.

He Li pointed at the bottom of the market software. There was an information bar next to the index market. Usually, this is the place where the latest market news is scrolled. Today, it is still a string of words scrolling to spread the news.

"I'm sorry, it's true, the Nasdaq fell 7 points, triggering the circuit breaker mechanism."

The trader next to him also started to talk, and then everyone started talking about it.

The circuit breaker mechanism that was urgently developed the year before last has never been encountered before, although everyone knows that there is such a thing.

Previously, it was also because someone mentioned the possibility of disconnecting the network, and the problems with the computers in front of everyone were similar, so no one thought about it and tested whether the network connection was normal.

In fact, as a trader, I sometimes encounter the situation of being offline. Even if I don’t encounter it myself, I will see others encounter it. The situation I am facing is not different from that of everyone now. It seems that the transaction has completely stopped. Like.

However, it must be right to trigger the circuit breaker mechanism, and the market software has already begun to prompt.

"The Nasdaq fell by 7 points, the Dow only dropped by 4 points, and the S&P only dropped by 5 points. So everyone is blown?"

Zheng Xiaopang said strangely, "Stop trading should only stop Natsu."

"Trouble you, it's a waste of time, we didn't understand the situation ourselves."

At this time, Chen Fan turned around and said apologetically to the technician sitting in the empty seat next to him.

"It doesn't matter, as long as there is no problem with the line, then we will go down first."

The two technicians also understood the problem. The exchange suspended trading, so the trading on everyone's computers stopped, and it was almost like going offline.

Immediately, the two left the trading room.

"The original rule was to stop trading for 15 minutes."

At this moment, Chen Fan thought about it, but he still couldn't remember exactly.

"Stop trading for 15 minutes and then resume trading, the next position is 13%."

He Li smiled.

"York City Exchange was wronged, it only dropped 4 points and then stopped trading."

Zheng Xiaopang said with a cheerful smile, the sense of crisis of the market diving was temporarily forgotten by them. After all, it was the first time in his life to encounter such a thing as a stock market meltdown, which was still very novel.

"After today, some people in the United States should raise objections. The policy introduced at the beginning was a bit sloppy.

In fact, at that time, it was only said that the index fell by 7%, and that 13% and 20% would be circuit breakers, which was too general.

It is now obvious that this policy was issued too hastily, and there are problems that need to be revised.

If the market falls below, it will stop trading without affecting other markets, otherwise the interests of traders in the United States will be damaged. "

He Li continued, after all, traders need customers to trade to earn commissions. If you stop trading, how can they make money.

"In the United States, members of industry associations still have a very important voice. It is estimated that it will change, but I don't know how to change it."

I don’t know who would agree with He Li’s statement. There are too many stock trading markets in the United States, not only the York City Stock Exchange, the Nasdaq Stock Exchange, but also many local exchanges. I don’t know if they have been included. If it is also involved, one day the local stock exchange index falls below 7 points, and the entire U.S. stock market will be suspended.

Regardless of the ups and downs of the stock market, traders are earning commissions for nothing. The larger the trading volume, the more they earn. As long as the trader does not end himself, it doesn't matter whether you are in a bear market or a bull market.

Of course, the actual situation is definitely not like this. There must be a difference between the large trading volume in the bull market and the small trading volume in the bear market. It is just that traders will not cause losses due to the bull-bear dispute, but their income will fluctuate.

Soon, the 15-minute suspension time passed, and rice stocks resumed trading.

Perhaps a large number of orders were blocked outside the exchange and failed to enter the market. After the suspension, most investors did not think about canceling their orders. After the market opened again, the three major indexes of the rice stock continued to plummet, and the Nasdaq fell below 4250 in an instant. point, to 4241.93 points, and then the index continued to decline rapidly, almost unaffected by the temporary suspension of the market.

Chen Fan and Zheng Xiaopang didn't expect the rice stocks to fall so hard. The so-called "circuit breaker" didn't make the investors who had panicked at this time regain their senses, and they were still selling like crazy.

But right now, He Li and the others are doing their own work, so they don't have time to chat with Chen Fan and Zheng Xiaopang.

"Are they going to rush to ship before the index falls below 13%?"

Zheng Xiaopang asked hesitantly.

"Who knows, I haven't encountered it before. I remember when I checked the information, I saw that the futures exchange in the United States was withdrawn not long after the circuit breaker mechanism was created, because when the market price fluctuated greatly, this The system does not work at all and does not achieve the expected results.”

Chen Fan smiled, "I don't know what the American guy thinks. The system that was abandoned by the futures side is picked up by the stock exchange here."

It may be that most of the orders entered after the market opened were trading orders issued before the market closed, and they were likely to be market orders, which were quickly digested after the market started. When the Nasdaq fell to around 4200 points, there was finally a sharp drop in selling orders.

"It's stabilized a little bit, but I don't know if it's because investors are reluctant to continue smashing the market or what."

Zheng Xiaopang saw that the index finally stabilized and went sideways when it was close to 4200 points, so he said casually.

Chen Fan rubbed his chin, curled his lips and said, "The drop was hard enough, it's already 8 points down, if it doesn't stop, everyone will be finished."

"Is it going to rebound?"

Zheng Xiaopang suddenly turned his head and asked Chen Fan.

"Should be." Chen Fan said subconsciously, but he didn't care too much.

"Then shall we have a wave below?"

Zheng Xiaopang suddenly licked his lips and said, looking greedy and philistine.

"What are you doing? Are you still adding stocks at this time?"

Chen Fan was taken aback by Zheng Xiaopang's words. At this time, he really didn't want to continue wading through the muddy water. He just wanted to end the rice stock trading as soon as possible so that he could relax and rest for a while.

Seeing Chen Fan's big reaction, Zheng Xiaopang laughed heartlessly.

"I just thought about whether to place a long order on the futures index and close the position when the market rebounds, at least to hedge the loss of the short order in my hand when the index rebounds."

Zheng Xiaopang explained that it was probably what they did the year before last, focusing on operations on the index, because it was only there that it was convenient to trade.

Chen Fan stared at the Nasdaq for a while. Now the index has fluctuated around 4210 points, but the price of the Nasdaq futures June contract has fallen to 6 points. Although the discount is dozens of points, the Nasdaq has obviously stopped falling, but the futures There is no intention of going up, and it is still oscillating below.

Chen Fan calculated in his mind that according to this discount rate, if the Nasdaq rebounds above 4400 points, the Nasdaq futures are estimated to be able to reach above 4300 points, and perhaps it is not impossible to rise to around 4400 points. Feel a little moved.

Anyway, I'm definitely going to spend this time in the market, and it seems that it's not impossible to pick up some money.

"Also, look, we still have a few empty computers here. If there is space, ask the futures team to move here as well. Let's direct the command. I'm too lazy to call or something. Trouble."

Zheng Xiaopang continued.

"Call someone over tomorrow."

Chen Fan thinks this suggestion is good. There are not many people in the resort now, and they are the ones who are really working. The trading room is big enough and the equipment is sufficient. It is also good to call people over, and it is convenient to send instructions.

"You can ask them to move here now, and I don't think they seem to have a deal."

Zheng Xiaopang then said, "Didn't we send an order before to suspend opening short positions, and there are no open positions there anymore."

"Ok?"

Chen Fan turned his head and looked over in surprise, "I'm talking about delaying the speed of opening short positions, not delaying opening short positions."

"Really? Haha, that's because I made a mistake in sending the message."

Zheng Xiaopang blinked, and said a little embarrassedly, "Fortunately, it's not a big mistake, it's just that there are a few empty orders, and it will be troublesome if the direction is wrong."

But having said that, Chen Fan still opened the trading background and took a look at the trading of the futures group. It has indeed stopped. Except for some empty orders listed above, there is no follow-up action, and those listed empty orders are in the It seemed to Chen Fan that he would definitely not be able to make a deal, the lowest point was around 4400 points.

"There are already nearly 6 empty orders, which is not bad."

Chen Fan took a look at his current positions by the way, all of them were empty orders, nearly 6 lots were enough to guarantee the safety of the stocks in his hands.

"Call them over." Chen Fan then said to Zheng Xiaopang.

However, it took a long time for Zheng Xiaopang's news to arrive, and someone from the futures team came over with a lot of information in his hand, which should be something to record the transaction situation.

Arrange the positions of Ning Yongyou, Kuang Jichun, and Li Fei, but the three of them have not traded at the moment, and Chen Fan did not say that Zheng Xiaopang made a mistake in conveying the order. Now it seems that although it is a mistake, the impact is not significant. Big, although the futures index market has fallen sharply, it is also a typical immeasurable short fall. Even if you open a short position, you can't buy it. Now there is no one to do long in this market.

Zheng Xiaopang arranged for the good guy to return to his position, but Chen Fan never expressed his opinion on his previous statement, and he couldn't figure out what Chen Fan meant, whether to do it or not, so after sitting down, Zheng Xiaopang stared at Chen Fan. Where to look.

The market is fairly stable at the moment. Neither the Nasdaq nor the Dow continued to decline, but they were unable to rebound, so they just lay on the floor and did not move.

"Are you worried that the market has not fallen through?"

After waiting for quite a while, Chen Fan still didn't speak. Zheng Xiaopang couldn't wait any longer, so he directly asked in a low voice.

"I don't worry about whether the market will rebound, I just worry that the market has room to fall."

Chen Fan smiled wryly. In this market, uncertain factors have increased a bit. Although it seems that the market has stopped falling now, Zheng Xiaopang's words from before still linger in his mind from time to time.

"Are they going to rush to ship before the index falls below 13%?"

To be honest, now Chen Fan is really not sure, if the market has been in such a downturn, will someone smash the market again at the end of the day.

Chen Fan believes that there must be a lot of bearish power in the recent week's trend. If there is a sudden increase in the late trading, it will lose a lot of money if it turns over now.

"Wait and see, I'm worried there are still people going to sell short."

Chen Fan shook his head, and finally responded to Zheng Xiaopang.

"If you hit it again, it will blow again."

Zheng Xiaopang didn't seem to be as deep as Chen Fan thought. From his point of view, Chen Fan had already said that he would rebound, and Chen Fan didn't explicitly object when he suggested buying bottoms. Fears that the market has plummeted again.

"Now the market is a bit complicated. It's better to watch more and move less. Even if you want to buy the bottom, wait and wait until the market has a clear signal of bottoming out and then sell. You may earn a lot less, but at least you won't lose money."

Chen Fan continued to explain.

In the following time, the Nasdaq still fluctuated around 4200 points, and Qualcomm’s stock price was also consolidating around 70 yuan. Here, He Li and the others saw that the market’s selling orders were significantly reduced, and they also began to protect the market a little bit. After stabilizing the stock price, a small amount Selling stocks is still the same routine, and the stock price will be released when the stock price stabilizes.

As for Oracle Software, it performed well in the two consecutive diving trends, and basically did not fall much, and the stock price has remained at around 38 yuan.

Also, ahead of the market dive, the main force has already started to protect the market, and the current locked-in market is still above 40 yuan.

Even during the second slump, the share price of Oracle Software was temporarily dropped by 38 yuan, but the dense buy orders listed below stabilized the confidence of the funds in the market.

Regardless of whether it is a hold-up order or a profit-making order, the focus is now on the banker's support. As long as the support shows a slight decline, there should be a large number of selling orders.

Fortunately, Zheng Xiaopang, a big short seller, is not in the mood to sell at the moment, and is still focused on waiting for the stock price to rebound before slowly leaving the market, because there are not many stocks in his hand.

(End of this chapter)