Rebirth of the Financial Crisis Sweeping the World

  Chapter 124 124 Shorting BYD Electronics for the third time

  At 11 o'clock in the evening, Wang Guanxi returned home, took a shower, and then went to the small bedroom, lying on the bed to read the current affairs news.

  [U.S. General Motors will cut costs by US$15 billion in the future]

   "Oh, it's bad news for the entire industry again. Now I want to short the BYD Electronics Group again"

  Today, BYD Electronics Group’s share price closed at 4.00, and Wang Guanxi intends to enter the market again at 6.00 to go short.

  "Maybe this news is not a big deal. I have to worry about it too much. Yesterday the auto industry fell sharply, and the short-term bad news may be exhausted."

  The next day, June 17, the stock market opened on Tuesday.

  HSBC International Trust, Golden Dragon Fund began to sell, the stock price quickly fell from 4.00 to 3.00.

  At this time, the American Fidelity Investment Group once again increased its holdings at the 3.00 position, and the stock price began to rise.

   quickly rushed from position 3.00 to position 4.00.

  After staying for a period of time, continue to rush upwards until it reaches the 5.00 position.

  Wang Guanxi is very excited, the stock price has actually risen to the 5.00 position.

   "When the stock price reaches 6.00, I will continue to short!"

   Soon, the stock price rose to RMB 5.50 again by RMB 0.5. Just when Wang Guanxi planned to call Feng Shaokun to borrow stocks, BYD Electronics’ stock price was sold by HSBC International Trust.

  The stock price fell all the way and soon fell back to the 3.00 position.

  American Fidelity Investment Group, Hong Kong branch. Si Xiuliang ordered: "Continue to buy"

   "Yes, President"

   So the stock price rose sharply under their buying, and quickly rushed from the 3.00 position to the 5.00 position.

  And HSBC International Trust also seized the time to sell.

  Two institutions are competing.

  The stock price vibrates crazily from 3.00 to 5.50, and the trading volume is very large.

  At this time, HSBC International Trust sold 5 million at a time, causing the stock price to drop directly from 5.50 to 3.12.

  And Guo Linhai, Guoco Financial Group, and Wu Zhanhai of Wing Lung Securities, both of them are excited.

  U.S. Fidelity investment continued, but they did not make a move, they both bought in one after another.

Wu Zhanhai bought 3 million shares, while Guo Linhai bought 6 million shares.

  The stock price rushed to the 5.50 position again, but it was sold by HSBC International Trust Company again, and the stock price fell sharply again.

  Finally, HSBC International Trust Co., Ltd. finally sold the last stocks, and the market closed at 3.05 in the morning.

  In these days, they have cashed out a total of 213 million shares, with an average cash position of 7.02, and a total of more than 1.4 billion Hong Kong dollars in cash.

  Jiang Quangang told all the traders: “Cash out the shares of PetroChina, Sinopec, and China Construction Bank before the end of this week.”

   glanced at China Resources Beer Group, he said again: "Preparing to increase holdings of China Resources Beer"

  He is still very optimistic about the prospects of China Resources Beer Group. This time he cashed out shares of BYD Electronics, Sinopec, and PetroChina to buy shares of other listed companies, commonly known as share swaps.

   "Yes, President"

  Because of the absence of HSBC International’s sell-off, after the opening of the market in the afternoon, BYD Electronics’ share price rose all the way and quickly rushed to the 4.50 position.

   then broke through the 5.00 position.

  After staying for a while, it rushes to the 5.80 position and then closes.

   "It's about to reach the 6.00 position, I can go short tomorrow"

  Wang Guanxi was very excited, so he rode to Wing Hang Securities Company and continued to borrow shares of BYD Electronics.

  So, Feng Shaokun borrowed 7 million shares from Wing Lung Securities Company, Ping An Fund borrowed 5 million shares, and Guoco Financial Group borrowed 11 million shares for a total of 23 million shares.

  Wu Zhanhai, Hao Yumao, and Guo Linhai all lent the stock to Wang Guanxi and charged interest!

  The next day, June 18th, Wednesday.

  The stock market opened, BYD Electronics’ stock price quickly rose to the 6.00 position.

   "Opportunity is here!"

  Wang Guanxi is slowly selling off!

  50,000 shares!

  50,000 shares!

  ··

  11.5 million shares were sold!

  The stock price gradually fell to the 4.00 position, and the American Fidelity Investment Group continued to increase its holdings, again quickly pulling the stock price to the 6.00 position!

  Wang Guanxi sold again.

  50,000 shares!

  50,000 shares!

  ···

  Lively pushed the stock price back to the 4.00 position, and the morning session ended.

  Wang Guanxi shorted 23 million shares and opened a position at 5.00, temporarily floating a profit of 23 million Hong Kong dollars.

   "Just lie down and make money."

  ···

  At this moment, Si Xiuliang of the American Fidelity Investment Group ordered: "In the afternoon, the stock price will be pulled to the 6.00 position, so that those shorts will continue to sell, and the stock price will fall, and we will buy again. We can eat as much as they sell!"

   "Yes, President"

   Soon, the market opened in the afternoon, and the stock price rose again!

   quickly rushed to the 5.00 position, but did not stop, and continued to rise until the 6.00 position.

  The profit of Wang Guanxi’s account disappeared.

   "Damn it, other major shareholders of BYD Electronics, why don't they sell them?"

  ··

  Golden Dragon Fund, Zhong Hewu, the major shareholder of BYD Electronics, continued to wait and see and did not sell.

  The stock price continued to rise, and soon rushed to the 6.5 position, and then closed.

  At this time, he saw a new message.

  [The unemployment rate in the United States rose sharply from 5.0% in the previous month to 5.5% in May, the highest point since October 2004, and the largest monthly increase since February 1986. 】

   Suddenly he felt bad, what is going on now?

  Thinking of my friend Randquan’s company in California, the client was miserable.

  Now the unemployment rate in the United States has risen so much, the economy is deteriorating, and BYD Electronics Group’s customers include Mercedes-Benz, Ford, and Sony.

  "This year's economy must be very poor. I'd better cash out more stocks, take cash, and be steady!"

   "Sell 20 million shares at the opening tomorrow, alas, you can buy them back when the stock price is low in the future."

  The next day, June 19, Thursday.

  The share price of BYD Electronics Group rose as soon as the quotation opened, and quickly rushed to the 7.00 position!

  Zhong Hewu couldn't bear it anymore and kept dumping BYD's stock.

   So the stock price plummeted all the way, and soon fell to the 5.00 position, and he quickly stopped selling.

   Soon the stock price rushed up again, rushing from the 5.00 position to the 7.00 position, and the morning session ended.

  He intends to sell another 10 million shares, leaving a certain share of BYD Electronics.

  Opening in the afternoon, he sold another 10 million shares, causing the stock price to fall to 5.50.

  But the Fidelity Investment Group of the United States has bought more aggressively this time, and retail investors in the market have also bought aggressively, which has caused the stock price to rise sharply, rushing to the 7.50 position.

  Wang Guanxi lost 57.5 million Hong Kong dollars in his account. He was in a cold sweat and felt very upset. He felt that he was too aggressive and reckless. He should wait until the stock price rises to 7.00 before shorting!

   His short position at 6.00 is too early.

  The first two shorts have tasted the great sweetness, this third shorts, don’t overturn the boat in the gutter.

   "Damn it, why doesn't BYD Auto, the largest shareholder of BYD Electronics, have cashed out yet?"

  (End of this chapter)