legendary trader

Chapter 839 840 ending (thanks to all readers, and to all friends who rewarded monthly and recommended tickets)

The rest of Thursday's trading time also became a period of garbage. At this time, the bulls on the Enron disk did not launch an offensive again to repair the graphics, and the bears seemed to die after destroying the bottom graphics, at least not when the bulls did not make a move. Hit the plate hard again.

The long and short sides tacitly maintain a balance on the market, but they are both cautiously carrying out their own transactions.

In the next few trading days, although large households or institutional funds entered and exited from time to time during the session, which affected the rise and fall of Enron's stock price in a short period of time, overall, Enron's stock price was always suppressed in a downward channel.

Those big buy orders that suddenly entered the market mostly entered the market at the early stage, and they were often in continuous testing. After finding someone deliberately suppressing them, they would quickly find an opportunity to leave the market. I don’t know if it was because they saw the tough attitude of the short sellers in the market or got something else The news, in short, such purchases almost disappeared in the next few days.

As for the funds that were eager to leave the market, most of them chose to take the initiative to lower the price to make transactions under the constant low-hanging selling orders from Lin Hong. At this time, the news that Enron was in a financial crisis had been widely circulated in the market.

To run a company, whether the funds are sufficient is very important. It is not only related to the operation of the company, but also some due debts of the company need to fulfill the repayment obligations in time, otherwise the creditors can demand bankruptcy for repayment.

In fact, when a company enters into insolvency, if it is usually liquidated during this period, there is a high probability that it can recover all, at least most of the debt.

This is often the case for companies in the United States. Once the due debts cannot be fulfilled, they often immediately resort to the courts to request the other party's company to go bankrupt and liquidate, so as to reduce their own losses.

Of course, such appeals are more for debt collection and to force the other party to fulfill their repayment obligations as soon as possible.

And in the latest Enron rumors, it was rumored that there would be a batch of 30 billion yuan in debt to be repaid at the beginning of next month. Now that Enron's funds are already stretched, it is undoubtedly a very serious matter.

As for the rumors in the market, Kenneth, the president and CEO of Enron, who was surrounded by reporters, did not answer, but chose to avoid this topic. The feeling of mistrust at Enron was even stronger.

Most of the public had a rational view of the various rumors about Enron before, and felt that the rumors were not credible. After all, the industry that Enron was in determined that the public still had confidence in Enron.

However, after the frequent bombings in the past year, Enron still did not produce conclusive evidence to prove that the media reports were false, and even did not pursue the legal responsibility of some newspapers for this, which is very puzzling.

The big newspapers in the United States are all backed by powerful consortiums. Ordinary companies really cannot afford to provoke them. Even companies like Enron still cannot afford to provoke those newspaper groups with strong backgrounds.

However, such newspapers are only a minority after all. Most of the newspapers that reported the bad news of Enron did not have a background that Enron dared not provoke, but they still did not take any action.

At this time, in the minds of most American people, there is more or less suspicion of Enron's business situation, and some of those rumors may be true.

At this time, in a manor villa on the outskirts of Guangdong City, in the study on the second floor, Mr. Mu was sitting on the sofa with a very dull expression, but he was looking at his father sitting opposite him, who was also the head of the Mu family.

"You, didn't you see the opinion given by the investment department today? Enron Company does have some good assets, but the feedback from the other side is very bad now. Enron Company may not be able to resist, so we should deal with them as soon as possible. The shares in your hand."

The study room fell into a strange silence for a short time, but it was soon broken by Mr. Mu's voice.

"Father, I still hope that you can support me to complete the acquisition of Enron."

But looking at the old father shaking his head, Mr. Mu's heart sank.

On the other side, he returned home full of hope, and had a long talk with his father that night, and because of this, he made his father sleep more than an hour late.

At that time, judging from his father's reaction, it was good. At least the old man of the Mu family was very interested in acquiring a company that played an important role in the US electricity market.

However, after the investigation was handed over to the investment department of Xiangjiang Industrial, the development of the incident gradually got out of Mr. Mu's control.

After the investment department collected aggregated information and entrusted an investigation company to conduct a comprehensive assessment of Enron, the investment department of Heung Kong Industries gave a negative judgment on this investment proposal.

Mr. Mu's fiery heart suddenly cooled down the moment he saw the investment opinion. It was not just the analysis of Enron's prospects in the opinion letter, but also those market rumors that he had sneered at before and the possible involvement behind it. Strength.

In fact, Mr. Mu had been mentally prepared for Heung Kong's decision to deny the decision to invest in Enron, and he had prepared some reasons to refute. It's a bit numb.

The reason why Mr. Mu knew from the very beginning that they might reject this proposal was, of course, because the person in charge of Xiangjiang Industrial was his elder brother, dear elder brother.

As the second child of the Mu family, he clearly knows that in his family business, he will never have a bright future, because in his hometown, especially in his father's thinking, the idea of ​​eldest son inheritance is very deep-rooted, even if he does it again. Well, no matter how good he is, it is useless, that's why he chose to leave Xiangjiang Industrial and founded Southern Investment Company.

Fortunately, my father is very supportive of my own independent business and has given me a lot of help, not just money.

However, Southern Investment and Xiangjiang Industrial have never had any business contacts.

In his father's office, Mr. Mu felt dizzy after reading the opinion letter. It analyzed Enron in detail, at least he felt it was more detailed and credible than what he saw in his own company.

After leaving Xiangjiang Industry, Mr. Mu has been thinking about this matter, whether to admit defeat and leave the market or there are other ways.

That's why this time, he went home again and talked with his father in the study, hoping to influence him and let him support this investment.

"Now I just need to drop Enron's stock price even lower, put Enron on the verge of bankruptcy, and then sweep away all the chips at a low level, we can get more shares, and it is entirely possible to take control of Enron."

Mr. Mu's voice suddenly became a bit high-pitched and said, but before he could finish speaking, he was interrupted by his father waving his hand.

"Do you still want to play the White Knight? If An Ran was a Huaguo company, everything would be easy to talk about. No matter how big the matter behind him was, I would have the confidence to suppress it for you. But he is a U.S. company, and Bush and I don't have that kind of friendship. Here you go." Fix that mess."

Having said that, the Patriarch of the Mu family looked tired, and waved his hand, motioning for him to leave.

Mr. Mu saw the firmness of his father's attitude. Although he was still a little unwilling, he still had no choice but to get up and leave the study, but when he walked to the door of the study, his father's voice suddenly came from behind.

"Throw away all the stocks and prepare funds. It is very difficult to win Enron as a whole, but if it really enters the stage of bankruptcy, there is still a chance to win some valuable things."

Mr. Mu stood firm, listened to his father's words carefully, and went through his mind, knowing that nothing could be done, and it was impossible to win Enron as a whole. If his father didn't support it, the current state of Southern Investment Group would be hopeless.

When going down the stairs, Mr. Mu took out his mobile phone
"Mr. Chen, we have received 5 million shares of Enron stock, and there are signs of a sharp increase in selling orders on the market. Shall we lower the purchase price?"

Lin Hong looked at the background transaction data and whispered to Chen Fan.

"The current sell-off is probably due to the sale of the funds. It seems that they have surrendered."

Chen Fan smiled and said in a relaxed mood.

"Ah."

Lin Hong didn't say much. As for who the seller is, whoever cares about him, "I think we can lower the price to less than 15 yuan."

After nearly a week of decline, Enron's stock price is now maintained at around 17 yuan, maintaining a trend of oscillating and falling.

The reason why Enron's stock price did not drop sharply despite the surge in selling orders in the market was because Chen Fan and the others had already quietly entered the market to cover their positions.

For a few days, hundreds of thousands of shares were bought every day, which delayed the decline of Enron's stock price.

"Don't be too greedy. Enron has fallen hard. I'm still worried that someone will enter the market to buy the bottom. It's fine to maintain the current trend and continue to fall slowly. As for the increase in sell orders in the past two days, we will also increase our collection efforts and return 2 million shares first. Stocks."

Now on Enron's board, the bulls haven't appeared for a long time, and it seems that they have really died down, and they have even turned empty. Otherwise, it is really difficult to understand where so many selling orders in the market come from.

The overall situation has been decided, and what Chen Fan wants is a peaceful ending, with the profits in his hands.

Those securities lending orders had already been urgently urged to return the stocks as soon as possible, and even raised the interest on the securities lending.

There is no way, the conditions set at the beginning were only half a year, and now it has actually exceeded, and only an interest rate slightly higher than the current bond lending interest rate can barely stabilize people.

In fact, Chen Fan already knew from Zhang Quan that the institutions that had lent them stocks for short selling also participated in the securities lending, borrowing a large amount of stocks and selling them to hedge their losses from lending stocks.

Most of the institutions holding Enron stock are clearing their positions and leaving the market, but now it is mainly individual investors who are greedy for cheap buying and some small and medium-sized institutions that are not well-informed. Such a cheap blue chip stock is still very attractive.

Seeing Chen Fan's attitude, Lin Hong was also aware of Chen Fan's concerns. In fact, they had discussed Chen Fan's concerns before. Although Lin Hong didn't think Chen Fan's worries would appear, there was no way. It's not just about obeying orders.

He turned his head and told the trader beside him: "Continue to eat goods, just follow the previous plan and keep the slight decline."

Not long after that, a few big buy orders suddenly appeared on the relatively calm Enron market, which wiped out the sell orders at the prices above, and not long after that, there appeared many small sell orders of tens of thousands of shares , Re-list these selling prices, and with the emergence of new selling orders, these selling orders are withdrawn one by one.

Afterwards, the trend line of Enron's stock price, which had been flattened, was suppressed again by successive selling orders. Enron's stock price fell by more than ten price points, and then fluctuated at a low level for a while, and buy orders were pulled up again, sweeping away the selling price. on the stock.

As the selling orders continued to be placed, Enron's stock price began to fall slowly again, returning to the previous low point and starting to trade sideways.

The protection force at the low point is still very strong. Those investors who have long been tempered by Enron's downtrend have begun to choose to admit defeat and leave the market here.

However, at the several selling prices above, selling orders are gradually accumulating, getting thicker and thicker, waiting for new buy orders to enter the market and sell them.

The two sides are so peacefully changing hands on the Enron board, generally speaking, it is not good for the current bears.

The buy orders below are very thin, and the so-called strong market support actually means that there are tens of thousands or 10,000+ shares of buying orders.

As for those short sellers who are eager to get out of the market, they have tried to place a big sell order immediately after seeing a big buy order appearing in the market, but the effect is very bad. Pay the bill.

As time goes by, the short sellers don't dare to list the stocks too much at this time, but can only increase the selling orders at the selling price, waiting for the bulls' luck.

Chen Fan stared at the board for a while, and suddenly felt that the trading room was much quieter. Lin Hong didn't say much, and turned his head to look over inadvertently. At this time, Lin Hong was obviously not in a good state.

After thinking about it for a while, Chen Fan knew what was going on.

After all, the money they get is closely related to the result of the transaction. The more they earn from the transaction, the more dividends they can get.

Looking at the market now, they have taken the initiative and can lead Enron's stock price to a lower price to cover their positions. Of course, they hope that this development will continue.

But Chen Fan was worried that the stock price would be too low to attract new vultures to enter the market. Undoubtedly, they felt that their interests seemed to be a little damaged in the conflict, although now it seems that this amount of money is really not much.

As far as the current situation is concerned, they bought Enron's stock and returned the previous securities lending. The price difference per share has reached 50 yuan, which means they have completed a book profit of 20 billion. This is not counting the money they made from short selling.

"Do you think you haven't earned enough?"

Chen Fan asked in a low voice with a playful smile.

"No."

Lin Hong immediately put on a smiling face and denied it, but continued to say, "I feel like there can be more."

Chen Fan put away his smile, "As I said, 2 million shares will be recovered here, and the rest will be gradually replenished in batches. Buy another 15 million shares under 1 yuan, and continue to bet on its stock price with the remaining 1 million shares." fall.

Judging from what Zhang Quan got, the current situation of Enron is very pessimistic. I am curious whether their loan of 30 billion yuan can be paid next week. "

Having said this, Chen Fan's voice stopped and he just stared at Lin Hong.

(End of this chapter)