Reborn in 2012, building a new energy empire

September 4th, Wednesday.

The soybean meal 1301 contract opened for trading in an almost frenzied manner.

After opening directly at 4302 points in the morning session, the price, like a beast that has broken free of all restraints, once again charged towards higher levels.

At 10:30, it broke through 4330 points; at 11:00, it boldly stood at 4350 points.

It is just one step away from the "key level" of 4400 points that the market is talking about.

The media erupted in a frenzy. Headlines on major financial websites were increasingly sensational, seemingly vying for attention:

"Soybean meal bull market hits record high! The era of no top has arrived!"

"The supply-demand gap is huge; institutions are bullish, with the index potentially reaching 5000 points!"

"A once-in-a-millennium super market opportunity, are you still watching from the sidelines?"

The atmosphere in the forums and chat groups had reached a fever pitch.

"Sell the house! Go all in on soybean meal! Financial freedom is within our grasp!"

"Withdraw all your credit cards, Alipay's Jiebei, and Huabei—your chance to turn things around has arrived!"

"What's there to be afraid of? When the trend is in your favor, any pullback is a good opportunity to add to your position!"

Jiang Haoran calmly browsed through the information, the cold light from the screen reflecting on his expressionless face.

Spot prices remain firmly hovering around 4050 yuan/ton. The price difference between futures and spot prices has widened to an astonishing 350 points or more, forming a dangerous precipice that could collapse at any moment.

His gaze shifted back to the futures position data.

The latest transaction data shows that both long and short positions are being significantly reduced.

The reduction in short positions is easy to understand; it's a surge of stop-loss orders triggered by margin calls. But at the same time, several major long positions are also taking profits and quietly withdrawing from the frenzy.

All imaginable positive factors—weather speculation, production cut expectations, and capital injections—have been put on the table and repeatedly analyzed.

All bullish sentiment has been ignited, and all available leverage has been used to its fullest extent.

The market is like a balloon that has been inflated to its limit, with a bright and shiny surface, but inside it is so taut that it is hissing dangerously.

What Jiang Haoran saw was not the unlimited potential for further upward movement, but rather the bewilderment after all the positive news had been priced in, and the depletion of funds that could no longer be found to generate new capital.

When the feast reaches its climax, it often means that the end is not far off.

Just after 2 p.m., driven by a surge of buying, the price reached its intraday high of 4369. This figure left a sharp peak on the intraday chart.

Almost simultaneously, several sudden, massive sell orders, each exceeding ten thousand lots, crashed down on the buy orders like meteorites falling from the sky.

The price immediately fell back, dropping quickly from 4369 to below 4350.

Although the absolute drop was not large, the overwhelming upward momentum was clearly strangled at this moment, revealing signs of exhaustion.

Jiang Haoran recalled the later confirmed news: the so-called "climate-induced production reduction" was severely exaggerated, Brazil's soybean production ultimately reached a new high, and the reduction in US production was far less than the market's expectations during the panic.

When the authoritative report from the U.S. Department of Agriculture was released in November, everything settled down. The price of soybean meal 1301 contract had already fallen from its peak, dropping back below 3200 yuan, even lower than the starting point of this round of crazy rise.

Markets are always like this: they overreact to fantasies and then drastically correct themselves in reality.

The process of correction is often accompanied by a dramatic redistribution of wealth.

The time has come.

The roles of hunter and prey are about to undergo a fundamental reversal.

He took a deep breath, as if trying to filter out all the noise and restlessness around him, and then opened the trading interface of his futures account.

The account held over twelve million in available margin. This was the "ammunition" he had accumulated from his earlier profits.

Without hesitation, his fingers began to tap on the keyboard, his movements steady and precise.

Direction: Sell to open a position.

Price: 4355.

Quantity: 500 lots.

Click to confirm.

The first short order was executed instantly, with the price displayed as 4356. Market liquidity remains ample, but prices have stagnated.

He didn't stop; he continued to place new sell orders.

4352, 800 lots; 4350, 500 lots; 4349, 300 lots... The orders were issued one after another, as if a calm and deadly minefield was quietly laid behind the boiling bull camp.

Within just over ten minutes, he had established a total of 3000 short positions, with the average opening cost locked at around 4348 points, and the margin required was approximately 6.5 million yuan.

He didn't use up all his resources at once, reserving a significant portion of his funds as a risk buffer.

Even based on his memories of his past life, he must remain respectful of the subtle variables that "rebirth" might bring. Maintaining a margin utilization rate of around 50% is a position that allows for both offensive and defensive maneuvers.

In the position list, a new line of eye-catching red text appeared: 3000 short positions.

Almost at the same time he finished building his position, his phone vibrated. It was Chen Jingge.

The call connected, and the uncle's voice was filled with barely suppressed excitement and a hint of anxiety: "Haoran! Prices have skyrocketed! Our company account still has those 100 long positions left, and the unrealized profit is almost 300,000! What do we do now?"

"Close all positions." Jiang Haoran's instruction was clear and decisive, without any hesitation. "Close them now, place a market order, and settle them as soon as possible."

"Flat? Okay, I'll do it right away!" Although Chen Jingge was a little surprised, he had already built up trust in Jiang Haoran's judgment and immediately agreed.

"I'll be heading back to Shanghai tonight," Jiang Haoran added. "We'll discuss the specific arrangements when I get to the company."

After hanging up the phone, Jiang Haoran turned off his computer and quickly packed a few simple belongings.

Outside the dormitory window, the afterglow of the setting sun bathed the campus in a warm golden hue, peaceful as ever.

He slung his bag over his shoulder, walked out of the dormitory building, and hailed a taxi.

"To the train station."

He needed to rush back to Shanghai immediately. Some battles require being on-site at the command post to detect the most subtle changes and make the most timely decisions.

September 5th, Thursday morning. Jiang Haoran appeared in the office of Jiutian Investment.

Chen Jingge was already waiting, his eyes were dark, clearly he hadn't slept well last night.

He handed Jiang Haoran a newly printed copy of the transaction record: "The company's long positions were all closed yesterday afternoon, at an average price of 4352. This round of soybean meal trading yielded a total profit of 385 million. All funds have been recovered."

"Very good." Jiang Haoran took the document, glanced at it, put it down, and looked directly at Chen Jingge. "Uncle, now, bring up the company's main trading account. We'll start shorting."

The air in the office seemed to freeze for a moment.

"...Short position?" Chen Jingge's voice was filled with disbelief and hesitation. He subconsciously glanced at the soybean meal market, which was still fluctuating at a high level, on the screen next to him.

"Haoran, market sentiment is still high, and the bulls seem to be still very strong. Is shorting at this time too risky? Should we wait for a clearer signal?"