legendary trader

Chapter 822 Chapter 823
When Chen Fan called to arrange weekend time, a small meeting was being held in a skyscraper in Guangdong City in the south of China.

"Last night's trend is indeed a bit of a rush to the top. There is also a sharp increase in trading volume at the high level. In the short term, Enron's stock price does have a request for a correction. After all, the increase from the bottom is close to 4%. Pretty big jump."

A man with a slightly fat body, but still in a suit and leather shoes, looked at the information in his hand and finished speaking, then looked up at the middle-aged man who was frowning and imposing.

"That is to say, with last night's trend, it is unlikely that Enron's stock price will continue to rise in the short term?"

After being quiet for a while, the middle-aged man asked.

"We urgently studied yesterday's trend in the morning. The first half of the rally was like a rainbow, but the trading volume was relatively large, and there were indeed signs of resistance to the rise. It should be the short sellers who entered the market before. The price of 35 yuan , Relatively speaking, for those funds that have rebounded, they have already made a lot of profits."

The fat man hurriedly replied.

"Then the current price is not suitable for continuing to increase positions. Is that what you mean? At what price can you enter the market?"

The middle-aged man continued to ask.

"According to the theory of the technical school, if the pullback is 0.618, the stock price will be around 30 yuan and 8 cents. If it is 50%, the resistance level should be 29 yuan and 5 cents, so there is a high probability that the stock price will stop falling and stabilize around 30 yuan, and then start the second round. Two waves of offensive."

The fat man continued to answer: "And if Enron's stock price pulls back here, and the stock price drops by 4 yuan, those short-term funds in the market should choose to leave the market. The dish is cleaned up, which is also conducive to the subsequent rise."

"What do you think of the trading team?"

The middle-aged man just nodded slightly after hearing what he said, then turned to ask the young man with glasses next to him.

"Stop adding positions, and wait for the market to stabilize before taking action. I think we can follow the advice of the analysis department and wait until around 30 yuan before entering the market."

The young man with glasses quickly expressed his opinion. This is also the result of discussions among traders in the early morning. They all felt that the trading volume was too large, far exceeding the amount that ordinary short sellers can sell. It is not ruled out that there are major shareholders of Enron who are reducing their positions. action, although this is only speculation and has no basis.

"Does the analysis department have any new opinions on Enron's subsequent trend?"

After the middle-aged man listened to the words of the young man with glasses, Furui Wubo's face became a little happy, and he asked the fat man again.

"So far, the bad news about Enron is the rumors from the United States. The main point is that Enron has financial problems, and the financial reports they released may have major flaws.

Of course, Enron categorically denied these rumors, and Enron's audit report was issued by Andersen Accounting Firm, which was also highly reliable.

Our opinion after analysis is that Enron may have whitewashed its financial report, but there should be no major troubles. It is far less serious than the rumors in the United States. There is a high probability that a small problem will be discovered, so it attracted the Knicks. The short-selling funds entered the market to short, and then exaggerated those small problems. "

The fat man stopped here for a while, looked at the expressions of everyone in the conference room, and continued after seeing that there was nothing to say: "As a company that mainly produces electricity, it also has a natural gas business. These projects are At present, for companies in the same industry in the US market, the benefits are good.

Even if there are a few companies with poor performance, it is actually the operating difficulties caused by investment mistakes, not their main business problems.

It is also worth noting that Enron also made such investment mistakes. For example, their water sector is already looking for a buyer. According to reports, it seems that the progress is not optimistic. The original company expected to complete the transaction this year, but so far, they Talking to several potential buyers, it seems that the negotiations are not going well. "

"Is it the Pampas business?"

The middle-aged man suddenly asked.

"Yes, the water service in the capital of the Pampas. It is reasonable to say that this project should be profitable, but the actual operation is very bad. It is still in a state of loss so far. It can only be said that the Americans are no different from the Pampas people. The efficiency of work over there is just like that, and the management system of the United States can’t be used there at all.”

The fat man shrugged, with a seemingly helpless expression.

The middle-aged man nodded, and said with a light smile at the corner of his mouth: "The project department also paid attention to that asset, and gave up after arranging on-site inspections, saying that the people there couldn't serve them, and the business that was supposed to make money would also be affected by various local people's actions." Inertia makes a loss-making business."

Having said this, the middle-aged man shook his head slightly.

"Mr. Mu, it stands to reason that the water supply in the capital will make money no matter what. Is the labor cost over there really that exaggerated?"

When the fat man heard the boss mentioning the project department, he asked casually. He also heard from colleagues before that he seemed very interested in going there, planning to acquire the tap water business in the capital of a country. And return.

"Hey, don't mention it. The project department was really interested when they found out that the asset was going to be sold. They arranged for people to go over there overnight to prepare for negotiations. Forget it, let's not talk about it. We dare not get involved in the matter over there, too. It's complicated, that country is calm on the surface, but it is also very turbulent in the dark."

Mr. Mu, that is, the middle-aged man smiled lightly and shook his head.

"Okay, since everyone agrees, then suspend buying Enron stock and wait for it to stabilize before discussing the next move. The trading team should pay attention to Enron's trend in the future, and call me in time if there is a situation."

Mr. Mu felt that there was no need to continue wasting time here. The short-term investment in Enron should be temporarily slowed down. The group company is also in short supply of funds, and he is not willing to put hundreds of millions of dollars in Enron's company.

Everyone else left the meeting room, Mr. Mu left behind the young man with glasses and asked directly, "How much money is left now?"

"3.5 million, bought more than 1 million stocks yesterday, 437 million shares."

The glasses youth immediately reported the transaction data, after all, it was his job.

"Well, you should pay more attention to Enron's trend changes. The company's funds are a little tight now, and those stocks may need to be pledged later in exchange for a part of the funds to supplement the cash flow of the group company, so we must control the purchase cost."

At around 8 o'clock on Friday night, Chen Fan approached the trading room before the rice stock market opened as usual.

At the moment, the trading room is still very lively. Not only Zhang Quan is here, but Xu Jing is also here, and they seem to be discussing the follow-up trend of Enron's stock price.

Regarding Chen Fan's temporary change of trading strategy last night, everyone seems to have slightly different opinions, but the same thing is that they are all relatively bearish on the trend of Enron's stock price today.

After all, it is an indisputable fact that the stock price has been hindered by the trading volume released at 34 yuan.

"Why are you here today?"

When Chen Fan entered the room, he saw Xu Jing and asked in surprise.

"The analysis department reported that Enron's stock price was about to pull back in the short term, so I came here. When it rose continuously a few days ago, I didn't dare to come here."

Xu Jing also smiled and said casually.

After Chen Fan sat down, he took today's summary of information from Zhang Quan. In fact, there was nothing new in the content. There was no news about An Ran in the past few days, and the market was very calm.

After Chen Fan finished reading the information, Xu Jing asked, "I heard that yesterday you were planning to cover your position and leave the market. Why did you suddenly change your mind?"

Chen Fan put down the paper in his hand, looked at Lin Hong and Zhang Quan, and finally looked at Xu Jing and said, "Sister Xu, I'm actually still thinking about when to start replenishing those stocks, after all, it's 4 Tens of millions of shares are not so easy to get back."

"So what you want is to suppress the stock price, and then cover up the position in the process of suppressing the stock price?"

Xu Jing guessed after thinking about it?

"Calling up is the best choice when the stock price is falling. If we also enter the market to cover the position at yesterday's stall, maybe the stock price will not close lower, but continue to close higher. After all, this rebound has risen by more than 3%. It's almost over."

Chen Fan replied with a smile: "It can be regarded as a test. At that time, I felt that the short-term rush was a bit weak. The trading volume was too weird, and it seemed like an action to lure more."

"It became clear in the second half. Now it seems that the probability of attracting more is very high. It is estimated that the market will drop sharply at the opening today."

Xu Jing nodded slightly and said, "Then start covering positions today or next week?"

"It depends on the situation. It's really hard to say now. If there are more funds entering the market, it's really hard to say whether it will fall or not."

Chen Fan responded.

Although Chen Fan is still bearish on Enron's stock price, yesterday's analysis report still reminded him, after all, it is a blue chip stock with good performance, and it will not lack financial support.

And when the rice stock market opened, Enron's opening price appeared at 34.36 yuan today. After opening slightly lower, there was a wave of slight upward trend at the opening of the market, closing the gap, and after hitting an intraday high of 34.79 yuan It just started to fluctuate.

It fell all the way down, although there were repetitions and rebounded several times during the session, but Enron's stock price still fell below 34 yuan after the opening of trading for more than an hour, and continued to drop.

Today's trading volume is going to be normal, and the buy orders are very rational. Although there are still a lot, they are not as crazy as they were when the market opened yesterday.

Xu Jing also stayed in the trading room for less than two hours. Seeing that Enron's stock price trend did not fluctuate, Chen Fan was not convinced, and no new large funds entered the market, she felt relieved and left.

Although the buying orders were not crazy today, the selling orders were not much shrunk, so Enron's stock price trend was gradually controlled by the short sellers in the market, and it continued to hit intraday lows continuously.

More than an hour later, Enron's stock price was close to 33 yuan, and the selling pressure from above was still very strong. It's getting more and more difficult. The selling orders above have accumulated to a certain amount, and there is no chance to draw back.

Chen Fan smoked a cigarette again. By the way, he used his ability to look at Enron's stock. It was still the same, and there was no brightness. Chen Fan felt more at ease at this time.

There was a fluctuating trend at around 32 yuan before, and what Chen Fan was most worried about was that the stock price would stabilize after falling by a few yuan. If the stock price was kept at a high level, it would be really troublesome for him to enter the market to cover his position. I bought 4 million shares, and the stock price went up with a little carelessness.

It is best to let Enron's stock price continue to fall, fall below 30 yuan, and then consider slowly covering the position, and return all the stocks that have been raised. Up to now, they have paid a lot of interest, and this Interest is not settled when the stock is returned, but is paid on a daily basis.

Of course, if someone is willing to sell 4 million shares of Enron stock at the market price at this time and ask Chen Fan if he wants it, Chen Fan will also gladly accept it. After deducting the interest that has already been paid, it is already a stable profit of 10 billion yuan. Yes, fools don't do it.

"30 yuan. If Enron's stock price falls below 30 yuan, you will start to cover your positions in small amounts and prepare to return those stocks. Some of the costs are too high."

Taking time out, Chen Fan whispered to Lin Hong, telling Lin Hong his plan, so as to ensure that there would be no problems in the operation, at least Lin Hong would know what to do when he had something to do and was not here.

Lin Hong has actually started to think about covering his positions recently. It was very simple to sell stocks before, just look at the buying orders below, but now it is his turn to end the operation, so he has to buy back the stocks little by little.

In fact, there are a lot of selling orders in the market now, but he also knows that if he really buys, these selling orders will probably be withdrawn soon, and of course the stock price will rise again afterwards, so he can only take it slowly and wait for the owners of these stocks If you lose confidence, at least the gang of bottom-hunting funds will enter the market to take orders when they start to exit the market, so that it will be easier to complete the task of covering positions.

The bulls will not die, but the bears will not stop. This is really not an exaggeration. If the main force of the bulls still insists on going long, there will not be so many sell orders in the market, and the bears will not be able to close the transaction, because the stocks are all held by the other party. not coming back.

33 yuan fell through without any suspense, but after that, the trend of Enron's stock price changed slightly, and the selling orders no longer continued to pile up. Enron's stock price seemed to find support near 32 yuan, and the stock price continued to fall. Momentum also started to wane after selling tapered off.

"It was a sideways area before, and it's normal to have some support. It depends on when those bottom-hunting funds come out."

Seeing the current changes in the market, Chen Fan had some idea. It seems that the ticket sales organization set the target price at around 33 yuan. Maybe this is their cost line or something, and they are unwilling to continue to kill the stock price.

For Chen Fan, this is of course not good. The best thing is to fight all the way to the end, but this is beyond his control.

After Enron's stock price stabilized around 32 yuan, it began to have funds to try to counterattack, but faced with the buy orders from above, it seemed to have little effect, although it successfully attracted some buy orders to follow up after several consecutive pull-ups.

(End of this chapter)