legendary trader

Chapter 818 Chapter 819 Shocking Higher
Zheng Xiaopang looked at the things in his hands, and curled his lips, "Tell me, did those analysts who recommended Enron stock take money from them?"

"Haha, who knows this, only they know it."

Chen Fan smiled, "But I also think that with so many analysts recommending it, someone should pay for it."

"Zhang Quan's efficiency has been low recently. I heard you said that he had asked Enron to get Enron's financial information a long time ago, but he still hasn't got it yet."

Zheng Xiaopang also brought up the matter that Chen Fan mentioned before. You know, this is very important. It can be said that this operation itself is a bet on the financial problems of Enron Company, but such important information has been taken for a long time. less than.

"It's in America after all."

When Zheng Xiaopang said this, Chen Fan smiled wryly and shook his head. He understood Zhang Quan very well, some things were indeed not so easy to get.

Before Chen Fan also thought about it differently. If he was an executive of Enron Company and knew that there were financial problems, then the person who could see the complete information must be someone he trusted, otherwise he would definitely not let him have the opportunity to see the financial problems. material.

"What's wrong with the United States, I can only say that their relationship is not good. I am a domestic company, and some of them may be more difficult, but there should be no information that cannot be obtained. Even if the company cannot obtain it, the tax department and You can get it from the bank too."

Hearing that Chen Fan excused Zhang Quan, Zheng Xiaopang was even more unconvinced, and continued, "Even if these things are not enough, wouldn't Andersen not be able to get them? So many places have opportunities to get access to the information, how could it not be possible? It can be said to be slack."

Hearing what Zheng Xiaopang said, Chen Fan suddenly felt that it was true.

All these departments have access to the financial information of Enron Company. The tax department can only see the report, but the bank and Andersen Accounting Firm are different. According to the rules of these enterprises, they can use it for a long time Access to Enron's financial information.

Enron not only issued bonds, but also had a large amount of bank loans. These banks would go to the company regularly to understand the business situation, and access to the latest financial information was inevitable.

Andersen, the audit unit, is the same. For a company as large as Enron, it is impossible to get in touch with the company's finances after the end of the reporting period, but to understand the financial changes of the company for a long time. Issue audit reports, because these data are monitored for a long time.

Enron Company only has a large number of subsidiaries and sub-companies in the consolidated statements. Arthur Andersen can only be involved in the company's finances for a long time to confirm those data in a timely manner, and then organize the subsequent audit business, that is, after confirming the statements. The work of consolidated accounting statements.

After these tasks are completed, the audit report, financial statements and notes to the statements will be prepared.

Of course, Enron's own financial department has to prepare financial statements and notes, but the market accepts the report approved by the accounting firm, not the company's own preparation.

"Let's talk to Zhang Quan later, see if we can get some information from Andersen's auditors in Enron."

Chen Fan is not very clear about Andersen's organizational structure, but after Chaofan Investment Company was established, it has to conduct audits every year, because the regulatory authorities have this requirement, and they have to submit audit reports to them every year.

Although Chen Fan didn't have direct contact with the people from these accounting firms, even Zheng Xiaopang, the boss in charge of finance, didn't contact the people from the accounting firm. Liu Ying arranged for someone to receive them, but he still knew the basic auditing procedures.

These people not only have to check the company's accounts, but also check the assets. In fact, the person in charge of auditing may know the company's asset allocation better than his boss.

Of course, these auditors also have professional ethics. The relevant personnel will not disclose the financial information of the audited unit to the outside. Notes to financial statements.

Now Zheng Xiaopang suggested that someone contact Andersen's auditors to see if they can obtain Enron's financial information. Although Chen Fan is not very optimistic, he still thinks it's worth a try.

Even if Enron just showed the revised financial information to Andersen's auditors, they should have found some clues.

At most, I think that the changes of these data are not worth mentioning to the entire audit work, so I will not disclose them in the audit report, but I must know something. ".

On Monday night, Chen Fan arrived at Oaktree Capital's trading room before 9 o'clock as usual.

I chatted casually with the traders in the room for a while, and of course mainly analyzed the possible trend of Enron this week.

After last week's rebound, Enron's share price has risen to 31.69 yuan. How much more can it go up this week?

In Chen Fan's eyes, Enron's stock price can only rise to 35 yuan, which means there is still an increase of more than 3 yuan, and it has remained unchanged so far.

If it rises as last week, it will take about two days for the stock price to reach its peak.

In fact, Chen Fan thought a lot over the weekend, but he didn't fully figure out what the purpose of the bottom-hunting funds this time was.

You know, it seems that the institutions and funds in Enron's shareholder roster are all considering selling. At this time, they enter the market to raise the stock price. Once the increase is in place, they will definitely become the receivers of these institutions.

Of course, Chen Fan would not speak out about these thoughts, that is, he told Lin Hong about the target position.

However, traders have more consistent views on the trend of Enron this week. If it can maintain the aggressive offensive last week at the beginning of the week, then this week's increase should not be small.

The discussion ended here, because it was time for the rice stocks to open, and everyone began to keep watching the market.

For the traders in the room, there are still no trading tasks arranged today, so everyone is still very leisurely chatting quietly while watching the market.

However, after the market opened today, Enron’s stock price showed a trend of opening low and going high. After the stock price opened at 31.46 yuan, it briefly fell to around 31.2 yuan to stabilize its position, and then there was a wave of rising prices. Near the meter.

After the stock price surpassed the closing price last weekend, Enron's buying orders began to increase significantly, and more and more funds began to participate, entering the market to buy stocks one after another.

Regarding these people's considerations, Chen Fan can also have some guesses. After all, Enron is a large-cap stock, and it is not easy to leverage such a stock. At least for institutions with less strength, they dare not even think about it.

Since large institutions are involved in speculating on this stock, they will naturally set their goals relatively high. If they just make a few points and run away, they may not pass the risk assessment test.

Last week, Enron's stock price rebounded, and there were obvious signs of funds entering the market, especially the strong pull-up over the weekend. Although it weakened in the late trading, most of the funds planned to wait two days after the weekend before considering whether to participate. After the weekend, it's time to make a choice.

When Enron's stock price fell back to 31.7 yuan, that is, it stabilized again after the closing price last weekend. As more and more buy orders came in, Enron's stock price began to rise slowly again.

"It looks like the market has been activated."

Lin Hong suddenly whispered to Chen Fan.

Chen Fan nodded. It is true that there are obviously more buying orders in the market today than last week, and many funds have begun to enter the market to buy Enron stock. Although the current recovery of Enron stock price is a rebound or an upward trend, in fact, at this time everyone still has no idea. I don't know, but such cheap blue chips are rare in the market now.

After the rice stocks peaked in March and April last year, the Nasdaq market has been in a trend of continuous decline, while the declines of the Dow Jones index and the S&P index are actually very limited. Effectively fell below here, so most of the blue chips in the market are actually very resistant to falling.

Among the stocks regarded as blue chips by the market, Enron has obviously become an outlier.

Last year, Enron's trend was not bad. Even after the market peaked, Enron's stock price continued to rise, and it was not affected by the market's decline.

However, since October last year, Enron's stock price has weakened significantly, and this year, the stock price has continuously hit lows in recent years, and the decline has been very severe.

Of course, the entire decline was accompanied by various negative rumors about Enron.

Perhaps it was the impact of these rumors that caused Enron's stock price to fall and there has been no strong capital to enter the market. Everyone is waiting, either there is a real problem with Enron, and the rumors are confirmed, or the rumors are refuted.

However, neither of these two situations happened, and after the stock price plummeted last week, it is obvious that funds have begun to enter the market to attract funds. Coupled with the stock price being suppressed and negative rumors, it is naturally easy to make people think about it.

Originally, Chen Fan thought that this rising trend would not last for too long, and would continue to go up and down repeatedly, just like the previous few times, but it was obvious that Chen Fan guessed wrong this time.

After Enron's stock price slowly regained its intraday highs, Enron's stock price unexpectedly began to gradually accelerate its rise.

In fact, at this time, there were no big buy orders to enter the market to sweep the goods, but the frequency of the buy orders increased significantly, but the collection of these fast-entry buy orders was still an extraordinary force, pushing Enron's stock price to continue to soar , It soon broke through the intraday high of 32 yuan, and the subsequent surge was very obvious. The stock price surged wildly, and the signs of acceleration were obvious.

The trading volume of the market was also released in real time at this time. Although there were no super large orders entering the market, they couldn't hold up too many orders, and the stock price rose too fast.

The rising time this time is about the same as before, but the strength is obviously much stronger, especially the accelerated upward trend starting from 32 yuan.

The short-term outbreak made the market a little bit unsustainable in the short term. Along with the stock price drop, selling orders began to be gradually released.

After the stock price approached 33 yuan, the selling orders in the market increased significantly. It was just that the buying orders were dense at that time, so it was not very conspicuous. Now the buying orders have decreased greatly, and those selling orders have also been highlighted.

After Enron's stock price was quickly suppressed to around 32.5 yuan, selling orders gradually began to decrease. After stabilizing around 32.2 yuan, the stock price went out of a slow upward trend again, and everything was no different from before.

At this time, the buying orders in the market also began to increase slowly.

Seeing this, Chen Fan gradually lost interest in An'an's subsequent trend, and it was still a fluctuating and rising trend, so there is a high probability that it will be impossible to rush around 35 yuan today.

After a few simple instructions with Lin Hong, Chen Fan left the trading room early.

In fact, what I said to Lin Hong is nothing new, just don’t enter and leave the market lightly. Of course, the limit of 35 yuan has been raised again.

Chen Fan, who walked out of the trading room, did not leave Oaktree Capital right away, but went to the marketing department to look for Zhang Quan. However, Zhang Quan was not there today, and he was still in the company at 9 o'clock. It should be after submitting the information on Enron to Chen Fan. just left.

No one was found, and Chen Fan had nothing to stay, so he left Oak Capital with Li Wu and Li Jian.

In fact, at this moment, Chen Fan really hoped that the market would not have any news, which would be the best.

Breaking news, no matter whether it is good or bad, will actually disrupt the market trend, and for investors, whether they can get the news is a half-and-half probability.

However, when Chen Fan turned on his computer to check the price of rice stocks in the early morning on Tuesday, he was a little surprised. The trend of Enron's stock price was a bit different from what he thought.

After Enron's stock price stabilized and rose for the third time, Chen Fan left. He thought that Enron's stock price was still in the trend of rising after a correction.

Enron's stock price went up for the third time, and the first half was about the same as expected. However, when it entered the acceleration phase, Enron's stock price showed signs of heavy volume and stagnation around 33.5 yuan. As more and more sell orders began to appear, Enron The stock price rally ended, and ensuing selling pressured Enron's stock price down again.

In the subsequent trend, Enron’s stock price never started a new upward trend. The stock price fluctuated around 33 yuan. At the close, the stock price fell slightly and closed at 32.72 yuan. It rose 1.03 yuan throughout the day, or only 3.25%.

In the second half of the trading period, Ann's trading was obviously weak, and the intraday selling appeared to be very active. The stock price has been under tremendous pressure, and there seems to be signs of peaking in the short term.

However, Chen Fan quickly thought of 35 yuan. According to the previous forecast, Enron's stock price can reach 35 yuan, but there is very little room for it to continue to rise, and the current trend seems to be a bit different from the previous prediction.

Of course, Chen Fan would not doubt the data he saw with his abilities. In fact, he believed more in what he saw than what he analyzed.

Soon, Chen Fan found several possible top graphics in his memory.

Yes, according to Chen Fan's previous look at the various top graphs on the stock price chart, these graphs are actually similar.

And considering the current trend of Enron, with the stock price about to peak, Chen Fan speculates that the funds entering the market this time will most likely be sold sideways here.

(End of this chapter)