legendary trader

Chapter 837 Chapter 838 Shorting
Since the Knicks Fund shorted Enron stock at the beginning of the year, it has been very low-key and did not participate in the transaction too much, and did not release the news that they shorted Enron.

This experienced boss first noticed the company because of Enron's financial report, but after finding out that Chen Fan had short-sold 4 million shares of Enron's stock, he found someone to investigate Enron, let alone be really attracted by him. Found something.

Although the evidence is insufficient, some clues left by the hunter still made him notice that someone has already targeted Enron Company, and his guess is similar to Chen Fan's, and he believes that the other party's purpose should be to take down Enron Company "Enron Online" electronic trading platform.

It's just that he changed his previous speculation that the short-selling of Enron was hot money into that the hunter was short-selling Enron, and this was just one of the plans of this big guy to take down Enron.

Make money by shorting Enron, and then use the money earned to buy Enron's core assets. This is only the kind of thing that Wall Street bigwigs like to do.

It is indeed a very challenging transaction, but he likes it. He operates with a big boss, and he can drink some soup by himself.

As a native of the United States, he certainly knows much more than overseas investors. Even the content of the negotiations between Enron and those institutional investors is very clear. There is no way, the relationship between them is so strong.

In fact, in that secret meeting, Enron CEO Jeffrey had already admitted in disguise that Enron had fabricated profits, but said that the amount was very small, and there were indeed some problems with the income, but he only admitted that it was an act of entering into the account in advance, That is to say, the unfinished transactions are included in the current income in advance, and the inflated profits are mainly derived from this.

For Enron, many businesses have a long execution period, and it is said that this part of the income should be included in the current income according to the progress of the project.

Of course, those fund managers scoffed at Jeffrey's remarks.

And now, Jim is also very concerned about Enron's follow-up trend. First, because the investment is about to enter the harvest period. Up to now, their book profits have been very rich. The most important thing now is to choose the timing of exit.

The second is to know whether the boss has any follow-up means and what his ultimate goal is.

In his opinion, to get what he wants is nothing more than saving Enron at the most difficult time, taking Enron's shares to complete control of Enron, or directly bidding to buy the assets he wants, but The latter requires the opponent's cash reserves to be shot when they are in a hurry.

And the information he has now is that Enron's funds are already very tight, and it can be said that problems may arise at any time.

Moreover, this problem will not last too long, because by October, that is, next month, Enron will have a 10 billion due debt that needs to be dealt with.

Regarding the recent trend, he can also see that someone is already buying Enron stock, but it is still unclear whether it is the big guy who is selling.

If that boss chooses to acquire Enron, he will have to prepare to clear his position and leave the market. He is not interested in wrestling with a Wall Street boss.

But now the tangled point is here, although some people are entering and buying on Enron's board, but from the end of the market, it seems that someone is taking a sniper attack again.

After thinking in silence for a long time, Jim finally turned off the computer. He planned to wait and see, at least two more days, to see if Enron's stock price could be stabilized.

At this time, Chen Fan was already sitting in the car going home, unaware that just now, he almost encountered the most critical moment, but escaped by accident.

Staying at home until the afternoon, Chen Fan received a call from Zheng Xiaopang, asking him to come to the company to see if Maojian shares can start to enter the market now.

According to Chen Fan's intentions, Zheng Xiaopang has always been slightly suppressing the stock price of Maojian shares. Today, Maojian's stock price has finally fallen below 29 yuan. When it reaches 28 yuan, it is the price at which Chen Fan feels that he can start to enter the market to collect chips. up.

"I'm in the courtyard, not the villa."

Chen Fan replied directly, during this period of time, of course Chen Fan paid attention to the trend of Maojian shares.

After falling below 30 yuan, the action to suppress the stock price encountered strong resistance. On the one hand, there was an ever-increasing publicity campaign, and on the other hand, the stock price continued to fall.

Therefore, Zheng Xiaopang could only fluctuate back and forth, and Mao Jian's stock price rebounded back to 30 yuan from time to time. After a long time, the market finally started to weaken.

In fact, this time Maojian's stock price was successfully suppressed. The overall weakening of domestic liquor listed companies' stock prices is also an important reason. Otherwise, it is estimated that Zheng Xiaopang will have to fight back several times before he dares to suppress it.

After Chen Fan hung up the phone with Zheng Xiaopang, he got up and went to the study to turn on the computer and check the domestic stock market.

By this time, the trend of the domestic market is generally not very good. The big market is mostly in the first half of the year, and the market in the second half of the year is mostly adjusted.

The current trend of Maojian shares is more like a downward-sloping platform. The stock price fluctuates slowly and falls. Today's low point is 28.85 yuan, while the high point is 29.11 yuan. The shock range is very small, only 1 point.

After thinking about it for a while, and then using the ability to look at it, there is not much room for Maojian to rise in the near future, because there are bright lights, but they are relatively weak, which means that the stock price will continue to fluctuate, and there is still time to rush to 29 yuan.

Chen Fan took out his mobile phone and stated his judgment. He still maintains the current trend and can start to accumulate money.

Zheng Xiaopang was more restrained in his buying before, he just bought some bargaining chips, and did not expand his position. Now that Chen Fan said that he can start to accumulate money, he can naturally buy a little bigger and start to build a bottom position .

However, Chen Fan is not very optimistic about the current trend. He wants Zheng Xiaopang to find an opportunity to smash the stock price, so that Mao Jian's stock price will be active, and the room for fluctuations will be expanded to make the stock price more flexible. This may be more beneficial The development of fundraising work.

As for the opportunity to smash the plate, that must be grasped by oneself.

Chen Fan paid attention to the trend of other liquor stocks, and the overall stock price was in a downward trend. Chen Fan just reminded Zheng Xiaopang to pay attention to the changes in the stock prices of companies in the same industry. The falling situation is easier to be accepted by the market.

In the evening, Chen Fan went to Oak Tree Capital after dinner. According to the plan, today he should consider whether to suppress Enron's stock price below the 20-meter mark, so Chen Fan left early today.

When we arrived at the trading room, Zhang Quan and Lin Hong were already there.

After learning about the situation in the United States with Zhang Quanxian, there is still no news worthy of attention. It is just that some major newspapers in the United States have begun to follow up on the news of Jeffrey's resignation, while the tabloids are discovering the secret behind this news. .

"Do you think this was decided by the newspaper itself, or was someone pushed behind the scenes?"

By this time, Chen Fan had also turned into a fan of conspiracy theories, doubting whether someone was behind all the situations that were not conducive to Enron.

"I can't see it. Up to now, Jeffrey's incident has attracted a lot of attention on the US Internet, so it is difficult for the newspaper to determine whether someone is instigating it in order to attract readers to follow up the report."

Zhang Quan shook his head and said, keeping his eyes on the change of Chen Fan's expression. Fortunately, Chen Fan's expression did not change after he finished speaking.

However, he and Lin Hong actually understood Chen Fan's current state very well. Although he seemed to have no performance at ordinary times, in their opinion, Chen Fan's mentality should be in a state of tension all the time.

Enron's stock price has fallen from 7 to 80 yuan to the present, just like a spring is constantly being compressed, because the force exerted is large enough to keep the spring being suppressed, but once there is a slight slack, the suppressing force may be less than The elasticity of the spring, the situation will be terrible at that time, which is one of the reasons why Lin Hong has always suggested to continue to put pressure on Enron's stock price.

Of course, there is nothing wrong with Chen Fan's intention to do nothing. After all, the pressure on Enron's board is already great, and it's too late.

Nothing happened, the three of them chatted casually for a while, until the rice stock market opened, Lin Hong did not intentionally lower Anron's opening price today, so it was no surprise that Anron's opening price opened higher today, directly It opened at 20.92 yuan, 2 points higher, and the range is not too small.

Seeing the opening price, Chen Fan's heart moved slightly, and then he whispered to Lin Hong: "The opening price may be delayed, but I don't know how long it will last."

"It's best to keep it down, or I'm worried that the sell orders will decrease after the market opens today."

Lin Hong frowned and replied.

It has been two days since the news of Jeffrey's resignation was released. If the really nervous investors had already left the market by this time, if Enron's stock price starts to rebound today, it is indeed very likely that there will be a reversal.

"The transaction volume of the call auction is not large, which means that there may be much fewer sell orders today than in the previous two days."

Zhang Quan on one side also said that although there is no trader, he still knows a lot of things, at least he still knows the things that should be paid attention to through the board.

There was not much time for them to discuss. Chen Fan knew that the trend at the opening of the market might be the time to determine the trend of the whole day, so he turned his head and said to Lin Hong: "Then let's drop the stock price at the opening, and let me smash the stock price by 20 yuan!" , Let the panic in the market come out."

"it is good."

Lin Hong agreed, and began to assign tasks to the traders below, preparing for the market to start trading as soon as the market opened.

Time also passed quickly. Two minutes later, the rice stocks started trading. In an instant, Enron's market was flooded with a huge number of buy and sell orders. At the moment of opening, almost all investors who paid attention to the price trend of Enron found out that there was no As a sign, there was a long-short confrontation on the board of Enron.

Tens of thousands of 10,000+ buy and sell orders entered the market quickly, and as the stock price fluctuated violently near the opening price, the number of shares traded per order also rapidly increased.

Chen Fan stared at the backend data. Within ten seconds of the market opening, they sold 50 shares. This was only the traded part, not counting the listed unsold shares.

Twenty seconds later, the number of shares traded has reached 20 million shares, and Enron's stock price is still fluctuating around 120 yuan, and it has not gone out of a clear downward trend.

Half a minute after the market opened, Enron's trading volume had reached 370 million shares, and Oaktree Capital sold more than 2 million shares. Enron's stock price finally fell to around 20.8 yuan.

It took only 2 million shares to drop the stock price to less than 0.2 yuan. It can be seen that at this time today, the resistance of the market's funds is very strong.

"Keep smashing."

Chen Fan said to Lin Hong, regardless of whether it is Southern Investment Group that is doing long, at this time, he must maintain the pressure of the market to let Enron's stock price continue to fall.

The reason why I didn't choose to smash the market at the end of the last trading day is that even if it breaks through 20 yuan at the end of the trading day, it is difficult to guarantee that no speculative funds will enter the market and rebound after a night.

At that time, although Enron's stock price may drop for a short time, the rebound force may be very strong, and Chen Fan is afraid that it will not be able to hold back.

But so far, it seems that the resistance of the market bulls is also very strong, and the resistance near the opening price is very powerful.

With the frantic selling of tens of thousands of 10,000+ shares one after another, the trading volume of Enron's market soared, and soon approached tens of millions of shares, and the market's trading volume quickly crossed the threshold of [-] million yuan.

At this time, Jim was also standing in the trading room, looking at the computer screens in front of the traders in front of him.

At this moment, he quickly calculated in his mind, which is where the boss did it.

He definitely wants to stand on the side of the strong. He understands the truth that a gentleman should not stand on a dangerous wall.

Let’s talk about the bullish forces. It feels a little different. The boss is still promoting the Enron incident to ferment. It should not start closing the net so soon.

If it is short, it seems to be more reliable.

Looking at Enron's market after the rapid increase in trading volume, the trading volume has begun to decline slowly from the peak at this time. It is impossible for both long and short parties to maintain high-intensity transactions, which requires huge amounts of financial support.

As the trading volume began to decline from the peak, Enron's stock price also fell again to around 20.5 yuan, and it was about to close today's gap.

Jim finally made up his mind, "David, join the ranks of short sellers, now the bulls should be at the end of their battle, crush them to death."

There was no answer, and the middle-aged man who Jim became David moved quickly, quickly throwing a sale order to the market. As he started to move, several traders next to him also began to trade according to the previous plan.

The previous resistance of Enron's stock price was indeed fierce, but under the strong selling pressure, the bulls finally couldn't bear it anymore.

After the stock price fell below 20.8 yuan in the early morning, the subsequent buy orders for entering the market decreased significantly, which is also one of the reasons for the decline in market trading volume.

"Captain Xu, the selling price is too strong."

"Yeah, I can't bear it, there are short shots to attack us."

Although the traders did not relax their work, they still kept expressing their judgments.

Xu Fei, a young man with glasses, saw An Ran's face at this time, and a thin layer of sweat appeared on his forehead unconsciously. He knew that today might be a tragedy.

"Retract and hang the order around 20.2 yuan."

Very decisive, without hesitation, directly issued a recycling order, and the key is to ensure that 20 yuan is the key.

(End of this chapter)