Hong Kong variety show: The tycoon who emerged from Portland Street

Closing a position doesn't require the same level of caution as opening a position; it doesn't need to be done in multiple batches. You can simply take over the sell orders on the exchange.

Currently, the exchange is mostly filled with sell orders, with very few buy orders.

Chen Mo paying the bill is a rare occurrence.

In just a few minutes, more than 10,000 contracts were traded.

"Boss, 11250 contracts have been traded at an average price of 220 points."

Pete's voice was filled with barely suppressed excitement and agitation.

With an average price of 220 points, Chen Mo's large buy order caused a slight rebound in the market during the stock market crash, but fortunately the impact was not significant.

The initial cost of establishing the position was 315 points.

By closing out only 30% of his position, Chen Mo had already locked in a profit of $534375000.

Although he didn't close his position at the lowest point, Chen Mo had already broken even and made a large profit.

Moreover, this is only 30% of the position.

I still have 70% of my holdings in hand! That's where the real profits are coming from.

After the transaction was completed, although no further action was needed for the day, Chen Mo and the others waited until the exchange closed.

As Chen Mo had predicted, the S&P 500 index fell back to 220 points after a slight rebound, slightly lower than the 224 points he remembered from his previous life, but the difference was not significant.

"Alright, let's go back. Henry, Pete, you two need to get a good rest tonight; tomorrow is the real battle."

"Understood, Boss!" Henry and Pete replied, bowing their heads.

Today's stock market crash means that many long positions will inevitably be liquidated.

Unless they can replenish their margin tonight, they will be forced to liquidate their positions tomorrow.

Today, "Black Monday," is just the day the stock market crash occurred; tomorrow's "Terrible Tuesday" will be even more dangerous than today.

If exchanges and institutions don't handle this well, it could very well cause the collapse of the entire US stock market system tomorrow.

The night passed quickly.

A new day begins.

Chen Mo looked at the dark circles under Ahua and Jimmy's eyes and asked, "What's wrong with you two?"

Ahua chuckled: "I was too excited yesterday, I couldn't sleep last night."

"Jimmy, are you getting this excited too?"

Jimmy rolled his eyes at Ahua: "I was excited too, but I was able to fall asleep."

But Ahua wouldn't let me sleep, making me analyze the situation for him all night: "Brother Mo, how much money can you make this time?"

"Damn it, you little punk!" Chen Mo laughed. "I'm not giving you the money I earn, why are you getting so worked up?"

"Even though you won't give it to me, Brother Mo, I'm still happy to see it!" Ahua said excitedly.

Gang Sheng and Qiu Di couldn't help but ask, "Brother Mo, how much money are you going to make this time?"

Chen Mo thought for a moment. If nothing unexpected happened, the results would be out this morning, and he could explain it to them.

"The more the US stock market falls, the more we make. Yesterday we closed out 30% of our positions, which has already recovered our costs and made us over 200 million US dollars."

If it weren't for the unexpected event today, we could have made over a billion!

"US dollars?"

"certainly!"

"So many?" Gang Sheng and Qiu Di couldn't help but exclaim in surprise.

"Is that much? I don't think it's enough. With that much money, they wouldn't even rank in the top ten among Hong Kong's richest people!"

After Chen Mo finished speaking, Gang Sheng and Qiu Di's eyes lit up.

My husband is so outstanding! So ambitious! So handsome!

Upon arriving at Merrill Lynch's office building, Chen Mo could clearly sense that the atmosphere inside was more somber than usual.

This morning, several smaller securities firms have already declared bankruptcy.

Merrill Lynch is also facing pressure.

Many of their clients have already had their long positions liquidated.

If they are unable to replenish their margin before the market opens, Merrill Lynch can, according to regulations, force them to liquidate their positions.

But that means another large number of sell orders will enter the market, which will further exacerbate yesterday's stock market crash.

Unless Merrill Lynch takes over the deal themselves.

However, that requires a large sum of money, and it's not guaranteed to be effective.

Because other securities firms are facing the same choice.

If other institutions allow sell orders to enter the market, Merrill Lynch will be left to fend for itself.

Moreover, if they choose to take over the market and the rescue is successful, they may make a fortune.

However, it is more likely that it will be even worse off than the securities firms that previously declared bankruptcy.

Chen Mo didn't bother to find out what Merrill Lynch was planning to do; he led his men straight to his trading room.

Chen Mo already knew what Merrill Lynch would do; barring any unforeseen circumstances, Merrill Lynch would choose to take over and rescue the market.

At 9:30, the stock exchange opened.

Unlike yesterday, the S&P 500 opened lower today, but its trend is upward.

"Oh no, Brother Mo, it's gone up! What do we do?" Jimmy exclaimed.

For every point the S&P 500 index rises, Chen Mo will earn more than 13 million US dollars less.

Chen Mo stared at the Bloomberg terminal, his brows furrowed. Sure enough, someone had chosen to step in to rescue the market.

However, Chen Mo was not alarmed.

Investors are still in a state of panic, and this amount of buying is definitely not enough.

"Let's see, this is just the beginning!"

Soon, the S&P 500 index rose to 230 points.

Half an hour later, it rose to 240 points, but the upward momentum was gradually slowing down.

A few minutes later, the upward trend stopped.

"Great! It's not going up anymore, Brother Mo! It's not going up anymore!" Jimmy and Ahua shouted with delight.

Chen Mo secretly breathed a sigh of relief.

The rally stalled just minutes before the S&P 500 began to fall, and the decline was even faster than when it had been rising!

The buy orders are empty again!

When the index fell below yesterday's closing price, Jimmy Ahua and the others couldn't help but cheer.

In their view, today might be just like yesterday, plummeting to rock bottom.

But Chen Mo didn't think so.

According to my memories from my previous life, the Federal Reserve, the stock exchange, and major investment banks would launch a joint market rescue operation in the afternoon, at which point a rebound was inevitable.

The best time to close the position was this morning.

However, the decline is not yet sufficient.

In my past life memories, today's lowest point for the S&P 500 index would be 202 points.

However, due to Chen Mo's involvement, the closing price and decline in recent days are different from the data Chen Mo remembers.

Chen Mo is now unsure what the lowest point will be today.

When the S&P 500 index fell to 205 points, Chen Mo ordered, "Pete, Henry, start making the calls."

Preparing to close the position.

"Yes, Boss!"

Jimmy couldn't help but urge, "Brother Mo, why don't we wait a little longer? It's only morning, the market has plenty of time to close!"

Chen Mo shook his head: "I'm not waiting any longer, it's better to secure the profits."

"Pete, Henry, don't close out your entire position at once. Keep the price around 205 points."

"Understood, Boss!"

If Chen Mo's 70% position, consisting of over 20,000 buy orders, were all released into the market at once, it would cause a significant price rebound, resulting in a substantial loss of profit.

However, the market is in dire need of buyers right now. Chen Mo's 70% position, if slightly diversified into a dozen or so transactions, will not cause much of a stir in the market.

The transaction was completed in about half an hour.

"Boss, all positions have been closed, average price 205 points."

"Great! Well done!" Chen Mo exclaimed excitedly.

With $1443750000 in his pocket, Chen Mo could hardly contain his excitement.