Vol 7 Chapter 28: No rules

The trading volume of China Shencheng Metal Exchange suddenly increased, and the transaction was extremely active, which quickly attracted the attention of many domestic enterprises.
In addition, at an economic forum not long ago, Huahai University co-hosted several economic experts to explain the impact of commodity price changes on the production costs of enterprises, and how to use the financial derivatives market to avoid the risk of systemic price fluctuations in the market. Companies that are rarely involved in the production or demand of the electrolytic copper industry have all consulted how to operate.
　　 Even many foreign companies are very interested.
　　 Because not long ago, Panasonic invested in several new factories in Eastern Guangdong Province to produce TVs, air conditioners, refrigerators, etc. Among them, electrolytic copper is the more expensive consumable.
So.
　　 Panasonic has also established a small long position in the Shanghai Nonferrous Metals Exchange to avoid possible cost increases caused by copper prices.
　　 Some enterprises in the electrical, light industry, machinery manufacturing, construction industry, and defense industry are also rushing for this.
　　 expressed a strong interest in the forward purchase of financial derivatives to avoid the upside risk of market prices.
　　 Not many people know that the market maker behind the suddenly active Shencheng CU is Jiuding Group.
　　Wall Street.
　　 Shen Jiannan took a look at the statistical data passed by Lu Shu, his eyes a little blurred.
　　People often say that capital has no borders.
　　 But I never mention the Jews in Germany, because there are no borders to pay.
　　 Now the Quantum Fund, Morgan, and other investment banks are willing to join hands with them to strangle Sumitomo because they occupy the general trend of the United States, but in the future, I am afraid that they will be the target of these guys.
　　 Ling Ling Ling!
　　 The phone rang suddenly.
It was William who called, and the guy said as soon as he opened his mouth: "Boss. My admiration for you is like a torrential river, which runs endlessly. The London Stock Exchange just issued an announcement and set new trading rules, stipulating that the premium and discount are zero. Minus twenty-eight, that hammer is dead this time."
　　 Shen Jiannan was not surprised by this news. Everything, from the time the Soviet Union collapsed, was doomed to the fate of the major consortia in Japan.
　　 Lost the use value of suppressing the Soviet economy, Japan is so fat, but without its own force, just like a pig covered with meat, it can only wait to be slaughtered.
　　 But Shen Jiannan was a little dissatisfied with William's flattery, and said in an angry tone: ‘William. When can you improve when you flatter? ’
　　 William sighed: "Boss, I have tried my best."
　　 Shen Jiannan raised his eyebrows and said, "How many positions have been established in the long-term?"
　　 William said: "1.6 billion."
　　 "......"
　　 Hanging up, Shen Jiannan watched the trend of copper prices in London and tapped gently on the table.
　　Sumitomo is not an ordinary group company. Binzhong Tainan has been in the copper market for so many years, and he is called Mr. Hammer, which is not so easy to deal with.
　　 Since ancient times, when some private companies competed, they were eager to deal with them. They even cooperated with foreign capital to make their own people, and they called it to attract foreign capital.
　　 Japanese is different.
　　 The Japanese consortium is very united in its suppression of foreign investment, relying on each other and defending each other.
Binzhong Tainan's position in the market is only 5%, but he can always control the price of copper. In addition to Sumitomo's huge background, he is inseparable from companies such as Mitsubishi Corporation and Marubeni who have shares in major international copper companies. relationship.
　　 Otherwise, Hamamaka Tainan would not be able to hold the momentum of public opinion created jointly by himself and Soros.
　　Although the British side is now using the rules to give Sumitomo a trap, it is still a large-scale war to snipe the Sumitomo chaebol.
　　2950.
　　The computer interface shows the price trend of London copper.
　　 When the trend chart is shrunk together, the uninterrupted trend is like undulating hills and ravines, with murderous intent everywhere.
　　Upgrade the army and cut down the plan, then cut down the hand, and then cut down the army, and then siege the city.
　　 In any kind of war, the easiest way to win is undoubtedly the soldier who wins without fighting.
　　 Looking at the consolidation range made by Lun Tong under his own instruction and the joint Quantum Fund and Tiger Fund around 2,700 points, Shen Jiannan raised his eyebrows, a cold flash in his eyes.
London, England.
　　 Binzhongtai man scolded his mother in a desperate manner, beating the things in the office frantically.
　　 He found that he completely underestimated the strength of international capital.
　　 Shameless strength.
　　 The sudden change of the trading rules by the joint regulatory authority and the exchange is simply shameless to the extreme.
　　 The new regulations of the London Stock Exchange mean that the spot premium shall not be less than 28 US dollars for March copper. On the contrary, the spot premium can be infinite.
　　 In the futures market, when the spot price is lower than the futures price, the basis is negative, and the price of forward futures is higher than the price of recent futures. This situation is called "futures premium" or "spot premium".
　　The part of the forward futures price exceeding the recent price of goods is called the "future premium";
　　 If the price of forward futures is lower than the price of recent futures, and the price of spot is higher than the price of futures, the basis is positive. This situation is called "futures premium" or "spot premium".
　　 The part of the forward futures price lower than the recent futures price is called the "future discount rate."
　　Because Sumitomo has a large amount of cash, Binzhong Tainan has established a large number of positions in the recent contract, which has kept the price of the main contract of Lun Copper at a high level.
　　 With Sumitomo's spot registered warehouse receipt, Sumitomo's capital can completely force the position into high-priced spot selling.
　　 Spots can make money, and futures can make money by manipulating positions.
　　 This is the manipulation of the former Hamamaka Tainan on the spot.
　　 It is precisely by this sharp technique that after entering Sumitomo from the age of 22, Hamamatsu has been able to stay in the position of Sumitomo's chief dealer.
　　 In the past, people in this position would change at most three years.
　　 And this Mr. Hammer stayed for more than ten years.
　　 In these years, Binzhong Tainan has brought Sumitomo billions of dollars in profits.
　　Before, Binzhong Tainan mainly relied on pulling the March copper contract to force positions, but this time, after encountering a strong opponent, he discovered that there was a serious loophole in his tactic.
　　 Spot premium.
　　 Due to all mandatory regulations of the LMC, the spot discount shall not be less than 28 US dollars for March copper.
　　 But the spot premium can be infinitely enlarged.
　　 This allowed the capital headed by First International Capital to catch that uncheckable loophole and establish a large number of short positions in the forward contract.
　　 Markets influence each other.
　　As the forward contract continues to fall, Binzhong Tainan's positions are all in the March contract, unable to snipe the price drop of the forward contract.
　　 Affected by the decline in forward contracts, there has also been a lot of selling pressure on recent contracts.
　　Hainaka Tainan knows.
　　 This move of International Capital is that the drunkard’s intention is not to drink, and the real purpose is to snipe his long position.
　　 But he can do nothing.
　　 In the March contract, Sumitomo has invested more than 10 billion U.S. dollars, and futures are all cash transactions. Binzhong Tainan has been unable to withdraw more funds to defend the far contract.
　　 He can't withdraw funds from the recent appointment to fight back, otherwise he will be double-killed by his opponent.
　　 But affected by the pressure of long-term short-selling, the pressure on the March contract is much greater than in the past.
　　 "Damn bastard!"
　　 "Despicable!"
　　 vented fiercely, Binzhong Tainan forced himself to calm down and start thinking.
　　 Now, his only chance is to completely strengthen the trend of the March contract to force the position to get rid of the international capital.
　　Nine o'clock in the evening London time is when the London copper is most active.
　　 Due to the impact of the exchange’s new regulations, London Copper opened sharply lower and was severely suppressed during the session. The drop reached 7%, approaching 2,750 points.
　　 In the early stage, the position of 2700 points was consolidated for a full half a month.
　　 This means that the position of 2700 points is equivalent to a defensive position between the bears and life and death.
　　 There has never been an absolute defense, so the best defense is always offense.
　　From the perspective of bulls, if you want to move back to the current disadvantages, you need to defeat the negative news brought by the exchange, break down the short funds in the market, and force these to cut their positions.
　　 Also, only by defeating the attack from the short can the long camp be maintained.
　　 There is only interest under capital.
　　 As long as the price of copper is pulled up and some small retail investors are forced to cut their positions, those shrimps will become purchases, putting the empty camp under tremendous pressure.
　　 No one will be indifferent to losses.
　　Once the pressure is too great, the short position will stop loss actively or passively close the position, it will become the new force of the long camp.
　　 If this is the case, then you have a chance to win.
The flashing transactions on the handicap made Binzhong Tainan a little upset. He resisted the urge to get angry and said to the trading team: "Push me up the price. Before the market closes tomorrow, you must give the price to I break all the technical pressure above."
　　As one of the oldest consortiums in Japan, Sumitomo's strength is always unfathomable.
　　 More than four hundred years of heritage, to some extent, is even better than that of a family like Morgan.
　　 Following Hamakata's orders.
　　The trading team strictly implemented every transaction and continued to plummet. Under the large and large purchases, it began to rebound rapidly.
　　 Not long.
　　 The price rose from 2,750 points to 2,890 points.
　　 City of London, a small gambling trading company.
　　Rogge looked blankly at the liquidated position on the account, feeling that his strength was hollowed out, his blood was released, and his mind was blank.
　　 Seeing the bad news from the exchange, he has established a big short position on March Lun Copper, full of expectations, and hopes that financial freedom can be completely realized this time.
　　 What is it now?
　　 Shorted by oneself, but the position broke?
　　 On the other side of Rogge, Coster was also at a loss. He deposited 6,000 pounds and made a long position of 60,000 pounds. The moment the market opened, he had already lost everything.
　　 The two looked at each other, a icy cold from the depths of their hearts made each other even more at a loss.
　　 an hour.
　　 The entire market seems to have become a money mill. I don’t know how many speculators are not people inside and outside, and all their funds have been strangled.
　　 And Binzhong Tainan watched the rising trend of copper prices with a calm expression: "I thought I changed the rules, I was afraid of you?"
　　The First International Capital Trading Room.
　　 William dragged his chin, quietly watching the crazy flashing disk in the market.
On the 　　 market, a large number of buy orders flashed quickly, and all the small empty orders were eaten.
　　 Soon, a large number of small shares began to be flat.
　　 It was a stop loss order that was shot out under the rapid attack of the bulls.
　　 It seems that the bull's offense is very sharp.
　　 is very powerful.
　　 However, William smiled.
　　 If the strength of the bulls is really enough, there is no need for such a surprise attack to kill the small funds in the air.
　　 Obviously, Haminaka Tainan can't sit still.
　　 But he probably wouldn't think of it, he was waiting for him here long ago.
　　 Looking at the same rising price of the forward contract, William deeply admires the shamelessness of his boss. The United Exchange revised the regulations, and Binzhong Tainan might be angry enough.
　　 "Boss, it's 2890."
　　A trader shouted.
　　William is not in a hurry. How can he make money if he doesn't trap Sumitomo further: "Let them go first, and we will help them pull it. Lao Luo, add five thousand more longs."
　　......
　　 Following William's instructions, the Lun Copper trend was like a rainbow, and it quickly recovered the sharp drop at the opening and reached the closing settlement position yesterday.
　　 At 19:00 London time, the London Metal Exchange is closed.
　　 At the close of the day, under the strong impact of the bulls, London copper prices soared by nearly 4%.
　　 Under a big sun line, it directly broke through all the technically suppressed moving averages.
　　 finally closed.
The price of 　　 Lun Copper steadily stood above all technical support.
　　 Such a huge increase, in addition to active offenses from multiple parties, those short stop-loss orders that were shot also contributed a lot.
　　 Under the skyrocketing, many shorts even joined the bulls on the spot.
　　 Under this big sun line ~EbookFREE.me~ the short position was immediately reversed.
　　 not only changed the head and shoulders trend that may have formed before, but also made the trend of Lun Tong form an N-up offensive posture.
　　 If technically speaking, this technical form means that Lun Copper is likely to launch a second round of upward attack.
　　 On the same day, a large number of technical selling orders were forced to stop losses.
　　 The short camp is showing signs of being forcibly broken up.
　　Sumitomo Nonferrous Metals Minister Office.
　　 Binzhong Tainan lay comfortably on the sofa. Wearing glasses, he no longer had a trace of worry on his face. From time to time, he gently stroked Jiang Lizi's long hair with his hands, a kind of masterful joy.
　　How about First International Capital! It wasn't that he was killed by himself and lost his armor. As long as he forced one more tomorrow, he could wipe out all these bastards.
boom--
　　 Suddenly, someone broke into the office directly.
　　 Binzhongtai male was surprised. Ono Yamashita of the trading department has panicked and said: "Minister, it's not good, the Anglo-American Securities Regulatory Commission organized a joint investigation team to investigate..."
　　 Before Ono Yamashita finished speaking, two middle-aged men with western faces appeared at the door.
　　 One of them took out a document and lights it up.
　　 "Mr. Haminaka, we belong to the Securities Supervision and Investigation Team. Recently, we received a report that someone accused you of illegal manipulation of the copper market. Now we need you to cooperate with our investigation."
　　 "......"