legendary trader

Chapter 139 Anxious
Zheng Xiaopang listened to Zhang Yang's words and looked at the computer screen. At this time, the Nasdaq futures price had been suppressed to 1712 points, and there were few buy orders at the lower price. If the list goes down, it may break through 1700 points.

In the stock market, the bulls have a slight upper hand. Although the confidence of the bulls has been shaken by the drag of the index futures decline, the Nasdaq index is still oscillating around 1745-1750 points. Maybe the short sellers can still sell short The stock market is still tenaciously defending because of the large reduction in chips.

However, with the passage of time, when the Nasdaq futures gradually approached 1700 points, the strength of the bulls in the market also appeared to be divided to a certain extent, and the stock index fell below the consolidation range and broke down.

Although the trend chart shows signs of breaking down, the bulls are still strong, and the market is once again competing around 1720 points.

But this time, the funds willing to enter the market in a big way are obviously much less than around 1750 points. Some bulls see signs of a reversal in the market, and choose to temporarily abandon the behavior of increasing positions and withdraw from the wait-and-see situation.

With the continuous decline of the Nasdaq market, signs of a double-headed top after a sharp rebound became more and more obvious.

Traders in the market began to become cautious, and most of them slowed down or even suspended the transactions in hand. They just stared at the market's troubles and waited for the market's main long-short battle to be staged again so that they could quickly determine the direction to trade.

Although the short-suppression was not severe, the stock index inevitably fell steadily as the long-term funds withdrew from the market in large quantities. When the market index effectively fell below the neckline near 1720 points, there was a small commotion among the long-term investors in the market , a small number of bulls chose to short backhand here to lock in profits or stop losses.

The betrayal of a small number of bulls exacerbated the panic in the market, and the previously thriving bull market began to be filled with bearishness in a blink of an eye.

More and more institutions and traders chose to withdraw from the wait-and-see or reverse operations to lock up positions to avoid losses. The market fell below the 1700-point integer mark almost without resistance from bulls, as if a technical bear market was coming again.

In Chaofan Investment Building, Chen Fan and others were still selling empty orders in full swing. Although Zheng Xiaopang and Zhang Yang felt a little uneasy in their hearts, out of trust in Chen Fan, they still chose to trust Chen Fan's judgment for the time being. It's just a second dip, it's a technical adjustment, and it's not terrible.

And as long as there are enough short positions in the futures, no matter how big the loss in the stock market is, there will be profits in the futures market to offset the loss. Therefore, Chen Fan's current operating strategy is in line with the current market, and there is no problem.

The only problem now is that if the market fights harder and gets more short orders at a high level, then it can effectively hedge the loss of this decline and even make a profit.

The two are also staring at the computer screen now, constantly looking for trading opportunities, and vying for the bulls below to pay.

What few people didn't know was that Qi Qinghua, who was far away in Shanghai, was sitting in his study at home at the moment, and the computer screen in front of him was also showing the latest US stock market quotes.

Earlier, the head of the risk control team had already called. Qi Qinghua knew that Chaofan Investment was selling stocks and opening short positions. Qi Qinghua couldn't figure out what Chen Fan was thinking. One hand, snatching short-term profits.

He wanted to get in touch with the core trading team, but felt that it was not good for him to directly intervene in the management of the company's trading team by bypassing Lao Li, and he was easily criticized.

But if the trading team is allowed to operate on its own, and is afraid of causing losses, it is a bit of a dilemma.

"It's so late, and I don't know if Lao Li is going to sleep or not? It's not appropriate to call at this time." Qi Qinghua thought to himself that he would not be able to sleep, but it didn't mean that other people would also be like this.

Recently, the US stock market fluctuated more and more violently. I asked the research institute in the morning, but what I got was a forecast report on essential oils, which made Qi Qinghua quite dissatisfied.

Thinking of the intertwined three-party forces in the company, Qi Qinghua couldn't help but sigh, "We can only wait for the news from Xiaoye to decide what to do."

Jinxin Company was jointly established by two major banks controlled by the government and an investment company. The three parties within the company were always fighting endlessly. Her previous job was because she failed to handle the relationship between the three parties and she was dismissed. Take office immediately.

During Qi Qinghua’s hesitation, after the Nasdaq index fell below 1700 points, it did not form a strong support near the closing point of the previous trading day. Affected by the rapid decline of the futures index and the continuous suppression of selling, the index continued to fall .

In this round of violent decline, it is very obvious that the market has formed a short-term bullish pattern.

In fact, at this time, the Nasdaq index should not be said to be falling. It seems more accurate to use diving. Almost all technology stocks in the Nasdaq market have turned red, and none of them can remain green. The remaining few green leaves are actually The above are small and medium-sized companies in the service industry.

Affected by the Nasdaq index, the Dow Jones index and the S&P index also fell to varying degrees. The entire US stock market seems to have returned to the situation where the bear market curtain was looming a few days ago. Except for the short-selling institutions, all market participants are once again at this moment. tense up.

Seeing that it fell below 1700 points in just a few minutes, Qi Qinghua felt a little cold, as if 1700 points were the dividing line between bulls and bears. What Qi Qinghua is worried about now is whether the market has really entered a bear market, and at this moment "Ding Ding Ding" ringtone rang.

Qi Qinghua picked up the phone and saw that the caller displayed "Xiaoye", he hurriedly picked up the phone and couldn't wait to ask: "Hi, what's the situation now?"

The caller was the risk control team leader of Jinxin Company, a mature woman who is very beautiful and good at dressing up. Of course, Qi Qinghua only recognized her ability and had no feelings for her appearance.

Phone: "Mr. Qi, Chaofan Investment stopped selling stocks around 1700, but they are still shorting index futures."

Qi Qinghua: "How many stocks did they sell? How many more?"

Phone: "The stock sold about 1.9 million, and the current position is about 2.9 million."

Qi Qinghua: "Where is the futures?"

Phone: "Short 6.8 lots, and it is still increasing. Their long orders are about 7 lots. The short orders should soon cover all long orders."

Qi Qinghua: "Keep watching and let me know if there is any situation."

And during the short phone call between Qi Qinghua and the head of the risk control team, the Nasdaq index, which was still diving violently, fell below 1650 points without any resistance, and the decline still did not stop, but the speed of the decline began to slow down .

Just when Qi Qinghua was about to hang up the phone, the anxious voice of the risk control team leader came out of the microphone again.

(End of this chapter)