The Son of Finance of the Great Age

  Chapter 955 Big Avalanche (1)

  With the sharp rise of the market in the past two days, there came the news that the management was cleaning up non-institutional funding accounts. The market's interpretation of this is that because the overheating of the stock market has caused national economic security, it is different from the previous rectification.

Soon related news flew all over the sky: a certain capital allocation company that occupies more than 50% of the market share is being investigated by the regulatory authorities, and their boss has been taken away by the police; The top three richest people have been controlled by the border to prevent them from fleeing abroad; a middle-aged male stockholder in his forties chose to commit suicide because he couldn’t bear the loss because of a liquidation; the central bank is no longer planning to lower the reserve ratio; industrial capital is going crazy Fleeing abroad, thousands of senior officials cashed out nearly 60 billion funds...

  It was only a weekend away from the highest point of the stock market, and the whole news turned negative, as if a very strong person was diagnosed as terminally ill by a doctor overnight, and the wind direction changed dramatically.

   Even so, in the research reports of major brokerage firms, it has been mentioned that the current capital market has a relatively large degree of volatility, but the market outlook has not changed much, and there is still the possibility of continuing to rise. The current regulatory action is only to reduce the leverage ratio of the market.

  Although there was a jaw-dropping sharp drop, neither brokers nor stock investors were too worried because of the lessons learned from the past. Therefore, many people have also ignored the news that there has been a large amount of redemption on ETF funds. The redemption of 3.594 billion shares accounted for 6.15% of the entire ETF fund, and tens of billions of funds just disappeared in the capital market.

  Although the market continues to sing long, some institutions have quietly left the market. What is also ignored by many people is that in the IC500 and IF300 contracts, there has been a large-scale increase in short positions, and the number has increased by hundreds of thousands of contracts in just a few days.

  The so-called IC500 contract refers to the China Securities 500 Index. This new stock index futures that just came out in April mainly targets 500 mid-market capitalization stocks, and the core area is companies with a market capitalization of 10 billion to 30 billion. In this wave of market prices, these companies with medium market capitalization rose the most fiercely, which also made the IC contract quickly surpass the old IF contract and become the most active stock index futures in the market.

The old-fashioned IF300 contract targets 300 stocks with medium and large market capitalizations. The IF contract, which was born long ago, was originally the only hedging tool in the market, but it quickly relegated to the second place after the IC contract came out. After all, large market capitalization The volatility of the company's stock is far less than that of mid-cap companies, and the profits are naturally not as rich as IC contracts.

Ordinary stockholders seldom pay attention to these stock index futures, because firstly, the entry threshold is relatively high, and individual users must have at least 500,000 margin to open an account; another point is that compared to their stock accounts, stock index futures exchanges The hedging effect that can be played is too limited.

  Generally speaking, ordinary speculators either pay attention to the stock market or the stock index market, and their funds can only allow them to fully operate in one market. Of course, this situation is not absolute. Shareholders with personal accounts reaching tens of millions or even hundreds of millions can operate in two markets at the same time.

  For ordinary investors, they are far from realizing the importance of the linkage between these two markets. But for institutions, stock index futures have become an important indicator for them to observe the market outlook. Therefore, when IC and IF contracts fluctuate greatly, institutions immediately observe this abnormal change.

  The stock index futures contract is equivalent to a betting contract, and there can be a large-scale increase in short positions, which also means an increase in long positions of the same size. The emergence of hundreds of thousands of contracts in the past few days means that institutions have clearly differentiated their views on the market outlook.

   "Now that your position has been established, what should you do next?"

  On June 18th, Zekang Capital Management Company in Suhai Financial Center, ten minutes before the market opened, Zhou Changan had been pacing back and forth in Xu Fei's office for half an hour. After realizing that the situation in the entire market would reverse, he became restless.

Compared to Xu Fei who was calm and relaxed, Zhou Changan's performance was very restless. After allocating a total of 10 billion funds to Xu Fei's account and signing an agreement of 30% profit sharing, He has always shown a mentality of worrying about gains and losses.

  The current Xu Fei is equivalent to a private trader, but the price of this trader is too expensive, a full 30% of the profit share makes Zhou Changan very painful. Part of this part of the profit should be given to Wang Jinkai, that is to say, Zhou Changan can only get 40% to 50% of the profit in the case of profit, and the risk is completely borne by himself.

  Thinking of this, Zhou Changan felt a little depressed, but there was nothing he could do. The other party has already laid out the situation, and it doesn't matter whether he has his funds or not. In this case, he has no bargaining power and can only let the other party ask for a price.

When he saw that Xu Fei, who looked like an old god, was not at all nervous before the war, he couldn't help complaining, "Boss Xu, are you listening to me? What are you going to do next? A way?"

   "Why are you in a hurry?"

Xu Fei let out a long breath, looked up at the other party casually, then lowered his head again, and after a long silence, he said leisurely, "Everything is ready, just start it. You just wait to see the market drop, other Don't worry about anything."

   "That's ten billion!"

Zhou Chang'an muttered dissatisfiedly, "10 billion in cash, that's one-third of my current net worth! Compared with those of you who can cash out at any time, this amount of money is nothing. But for people like me For me, this is my lifeblood. Hehe, for this tens of billions, I even have the guts to kill someone!"

   "Tsk tsk tsk, isn't it 10 billion? According to the previous agreement, if something goes wrong on my side, I will bear more than 80% of the loss."

Regarding Zhou Changan's attitude, Xu Fei snorted and said disdainfully, "Don't worry, if I can't make money, how can I talk like a lion and ask for 30% of the profit share? Hehe, I have been playing in the capital market for so many years. I have seen a similar market eight times instead of ten times. In the past, I could only push up the stock price desperately. Now that I have the tool of stock index futures, I can make money no matter whether it goes up or down. If I didn’t have this tool, I would not expect Earn your little money."

   "By the way, my 10 billion goes in, why not all short?"

Xu Fei scolded me for his complaints, and he couldn't say anything more. Zhou Changan felt a little suffocated in his heart, but he couldn't express it. He could only change the subject and said, "Since you can determine the future market trend, why not All-out shorting? Now only less than 5 billion short positions have been established, what does this mean?"

   "Why do you say you are a layman!"

Hearing this, Xu Fei sneered, and his sarcasm became even stronger, "Although I can determine the market trend, there are still many factors beyond my control. Besides, the futures index is a leveraged operation. The lower limit is a fluctuation of more than 30%. If you can’t cover your position, you will be liquidated in minutes. The reserve fund is not only necessary, but also the foundation of survival.”

"Okay, I've said so much, and I'm not sure if you can understand it. It's about to open now, so get ready to start the operation. You'd better not make a sound during the operation, so as not to affect my thinking .”

Raising his wrist and looking at his watch, Xu Fei gestured to Zhou Changan, "A magnificent show is about to begin. It is a great honor that we will be the creators and witnesses of history. Not too many people will know about us What did you do, but it doesn't matter, we just need to get the real profit, and fame is not suitable for us."

  Zhou Changan nodded heavily.

  In the trading room, all the traders were gearing up and getting ready. When Xu Fei appeared in the hall, all eyes were on him.

   "Is everything ready?"

Clapping his palms vigorously, Xu Fei cheered loudly to everyone, "Zekang has been the best private equity fund in the market since its establishment, and no other peers can compare with us. And everyone here, whether you are a researcher , analysts and traders are also the best in the industry. This time the market cannot be said to be a once-in-a-lifetime opportunity, but it is also a good opportunity once in ten years. And it is different from the past. In the past, we could only passively sell out and avoid the decline. But now everything is different, and we have a chance when we are down."

   "This is a historic first, but it definitely won't be our last."

  Under Xu Fei's instigation, Zekang's traders were all excited, and many of them stood up unconsciously and kept applauding. Xu Fei nodded in satisfaction, and made the final conclusion loudly, "Gentlemen, go and start your new era!"

  The scene fell silent in an instant, and the traders nodded heavily, then sat back in their seats in an orderly manner, and began to prepare for today's transaction.

"At 4942 points, the main buyers showed signs of an upward attack. Among the 200 stocks in the index, 78 stocks rose, 15 stocks were relatively strong buying, and 92 stocks rose steadily. The intention of buying and selling is not strong. , The trading volume is also very average. The other is the falling stocks, among which several companies in the pharmaceutical and new energy sectors have a very firm intention to sell, which may be due to previous profit-taking.”

   Not long after the opening of the market, the quotations of various stocks that affected the index were summarized in front of Xu Fei one after another.

   "The index is going up!"

After continuing to observe for a while, Xu Fei keenly noticed that the rising stocks were increasing one after another. Immediately, he made a gesture and ordered without hesitation, "Sell me two energy stocks to test the market, and directly give them 500 million yuan!" share."

  The two energy stocks he mentioned are exactly two oil stocks. Because of their huge market capitalization, these two stocks are to a certain extent indicators of the market.

   Soon the traders executed Xu Fei's order, and the two energy stocks worth as much as 500 million yuan soon appeared in the sell column, which immediately curbed the rising momentum of the index.

  The market immediately found a huge sell-off in these two energy stocks, which poured cold water on the market's rising sentiment.

  For a while, the market couldn't figure out what this meant. Because these 500 million stocks appeared on the seller like a roadblock, the prices of the two stocks began to stagnate, and soon turned around, and then the index also fell.

   "Okay, you can start it too!"

  After seeing the reversal of the market, Xu Fei made a phone call, and immediately said to everyone, "Now we are trying our best to sell the heavyweight stocks. According to the original plan, we will sell all the 5 billion quota, and there is nothing left."

  The traders of Zekang Company acted quickly, and soon there was a wave of selling in banking, finance, energy, communications and other heavyweight sectors. The amount ranged from tens of millions to hundreds of millions, and the initial estimate exceeded tens of billions. This wave didn't last long, and the market discovered that someone was selling heavyweight shares crazily. This news quickly caused panic in the market, and then the panic spread to small and medium stocks, and soon there was a wave of selling in the stock market , Investors began to sell their stocks regardless of cost, and the index soon fell sharply.

  It was so easy to attack heavyweight stocks, and let this panic spread unscrupulously, and soon the entire market developed as Xu Fei hoped.

  The market plunged 182 points that day, or 3.67%. The reason why it only fell so much was that after Xu Fei believed that the market had turned, he withdrew all pending orders that had not been executed, and secretly bought some of the heavyweight shares.

   Naturally, he had a big win in another market.

   Thank you book lovers for loving Gongyewen, Xingyu Wang, Fantasy Illusion, Hu Dachuzi, 13971545012 for voting monthly! It’s finally written, and it may be late recently. I hope everyone understands that it’s not easy for the author to write a book. Thank you very much~

  (end of this chapter)