The Son of Finance of the Great Age

  Chapter 171 Tripartite Synergy

"This time, we are going to set a trap for the short sellers, so that they will know who is the boss in the copper futures market!" Tainan Binzhong showed a complacent look on his face. He is already familiar with various strategies and traps in the copper futures market. I don't know who designed such a plan this time, but it happened to be captured by Hamanaka Yasuo, who has an exceptionally keen sense of smell.

Seeing his boss showing such a smile, Oshima Kenjiro felt chills in his heart. As the assistant who has been with Hamanaka Yasuo for the longest time, he is too familiar with his boss's psychology when he shows this expression. At this time, he silently I really thought, which loser will choose his boss to be his opponent this time!

  …

In New York, although it is late at night, the lights on Wall Street are still brightly lit. The lights of many office buildings are on all night long. Money never sleeps. Those who pursue money must follow in the footsteps of money. Different branches have been opened in different capital markets, such as in New York, in London, in Tokyo, in Hong Kong and so on. However, due to geographical, cost and other relations, the United States is still their most important base.

However, for the fund industry, it is completely unnecessary to set up a separate office in other regions. After all, the current investment methods have become more and more electronic. Although the transactions on the floor are still available, they obviously cannot keep up with the matching of electronic disks. speed. The jet lag is a minor issue because these people on Wall Street are workaholics who are used to working in different markets.

Druckenmiller held a cup of steaming coffee, and after taking a sip, his brows frowned: "This taste is not authentic enough, there should be something wrong with the coffee beans." Subconsciously poured the whole cup of coffee into the pool.

  He pursues a high standard of living and has formed his own unique set of tastes. Ordinary coffee doesn't catch his eyes at all. But after shaking his head, he made another cup of coffee, but this time he added two spoonfuls of milk.

"Guys, how's it going?" When Druckenmiller walked into the trading floor, the extremely noisy hall suddenly fell silent. There were more than a dozen energetic young people here, discussing yesterday's market enthusiastically. .

Hearing Druckenmiller's question, these young traders first glanced at each other, and then one of the slightly older traders stood up and said: "Stanley, the main short sellers seem to have been forcibly suppressing copper futures recently. Is the point of our discussion taking the opportunity to raise the price of copper so that some of our previously held positions can be sold?"

  Even if they are very rich and powerful, these traders are still very careful about their positions. This is because on the one hand, they must always be alert to the impact of market price fluctuations on their positions, and on the other hand, because their positions occupy a large amount of margin.

   "Reducing positions? That's a good idea! What about the others?" Druckenmiller responded noncommittally, and then asked others.

A somewhat thin Caucasian analyst stood up, habitually pushed the thick glasses on the bridge of his nose, and said with a serious expression: "According to my analysis, the reason for the drop should be man-made manipulation, because fundamentals According to the news, there is no reason for the price of copper to fall. I believe that the price of copper may continue to fall for a period of time in the future, because the option will be announced soon. Although the decline is not obvious during this period, it is likely to be a short-term strategy.”

  As soon as his words came out, the other traders fell silent, and all lowered their heads to think about this possibility.

  Even if they can make a difference in the US capital market, these elite traders are immediately dumbfounded when they arrive in the copper futures market. The original strategies cannot be applied in this market at all, and the daily new opening and delivery system also makes them uncomfortable. Of course, the happiest thing is that there is no limit to the number of positions held.

  Many markets in the United States have a strong hedging effect, so hedging accounts and speculative accounts are defined, and the number of hands held is also mandatory. The most important thing is that US laws have strict penalties for futures manipulation, so even these hedge funds dare not blatantly raise or suppress futures prices, even though such behavior is generally difficult to convict.

  However, in London, none of this is a problem, and even the settlement is not carried out on a daily basis, which makes them with ample funds overjoyed. What kind of concept is this? That is to say, if you have an overwhelming financial advantage, you can raise the price of copper (or other non-ferrous metals) to any favorable height at will.

   Of course, this is only a theoretical possibility. If someone dares to hold a position that can directly affect market price fluctuations, he will soon become a public enemy of the market, and most people in the market will attack him frantically.

   "Is there anything else?" Druckenmiller continued to ask, he naturally thought of these possibilities, and now he still wants to hear what other good ideas this group of people have.

"If someone quietly absorbs long orders at a low position, it is obviously suppressing the price of copper futures. When his long orders are absorbed to a certain extent, he will suddenly increase the copper price, so that these long orders can be profitable immediately. Simple reason? Bitches!" At this moment, a piercing voice suddenly sounded. Everyone was a little bit astonished for a moment, and looked up one after another, only to find that it was a debt trader, who was standing two or three meters away from the group of them with his neck crooked, with his hands crossed over his chest and a sneer on his face. He looked at the group of non-ferrous metal traders with disdain.

In May, the European bond market has somewhat stopped the trend of soaring yields. After all, Europe’s fundamentals are good, and central banks of various countries have all started to lower interest rates. As the negative effects of the withdrawal of US funds are gradually fading, and some Daredevil money is also starting to re-enter the European bond market.

  These traders are in charge of bonds. In their view, bonds are the first choice to make profits. Of course, those who do foreign exchange, futures, and even stocks think that their own products are the first choice to make profits, and it is natural for both parties to look down upon each other.

   "Gilbert, you **** shut up, you son of a bitch, get out of here!" When these copper futures traders saw the trader named Gilbert, someone immediately yelled.

Even within a fund, they sometimes compare each other's performance and dividends. The fixed income department has been very bullish these two days. First, it made a lot of money in the British bond market, and later in France, Germany and other countries. I made a lot of money in the bond market. Although the bond crisis that shocked the world occurred in February and March, Quantum Fund sold the US bond portfolio in time in January, but inevitably lost a large amount in Europe.

  Therefore, every time Gilbert passed by the Commodity Department, several traders would say strange things in a sly manner, and they naturally teased the employees of the Fixed Income Department, which made Gilbert and his colleagues very angry.

   Even last week, they had a big fight in a fight club on the outskirts of the city, and of course, both sides wore thick protective gear. This is how traders keep their spirits high so that they don't get crushed by a mountain of pressure.

  When Gilbert had the opportunity to hurt traders in the commodity market, he immediately spoke sarcastically. It's just that what he said were some simple trading skills, how could these traders here not know.

  This is why the corresponding strategies are very different in different industries. Take copper futures as an example, the market can only follow the trend, that is, determine the future trend of copper futures through fundamental analysis, and cannot affect the price through forced manipulation. Even if the ideal price can be reached for a while, the future price will definitely rise Back to the price reflected in the fundamentals.

For example, if the price of copper in the forward contract is $2,500 and the price of copper 3 is $1,800, and the difference between the two parties is as high as $700, it is easy for arbitrageurs and gamblers to enter the market. Arbitrageurs may be better off. It's just arbitrage of price difference between different months, but the funds for gambling may be desperate to fight with the manipulator behind the scenes, and it can even last until the delivery!

Gilbert just showed off his courage for a while, but he didn't see Druckenmiller. Seeing these commodity traders retaliate, he was about to fight back a few more words, and then saw Druckenmiller turn his head Shrugged him. Seeing the helpless gestures of the big bosses, Gilbert twisted his mouth and walked out with interest.

"Actually, what he said is not wrong. We have been buying copper futures contracts for June and July at low prices during this time!" Druckenmiller turned his head and pretended to be tacit, attracting The exasperated traders just laughed.

"Apart from major factors such as the housing start rate and crude oil, have you noticed that someone is quietly buying copper in the market, which may be short or long. In any case, our future strategy will not change .”

   "In addition, it must be explained that if you can borrow leverage from a broker, don't be stingy, try to increase the leverage, so that our income will be greater, understand?"

  After Druckenmiller gave an encouraging speech, a group of traders were busy making phone calls. As the copper market is about to open, they must get their work ready as soon as possible.

  …

On May 3, the day when the option exercise was announced, the market unexpectedly did not fluctuate too much. The price of copper futures only fell a little bit, and then the price of copper futures rose a little bit on the second trading day. The calmness that was about to come made many investors murmur in their hearts, not understanding what was going on.

   Soon, on May 8, the price of copper futures began to fluctuate violently!

   Thank you Demon Dragon Warrior for your tip yesterday! During the holidays, it is often released in advance and regularly, so it has been a long time since I thanked the friends who voted for the monthly vote and rewarded in time. I hope everyone can understand~

  (end of this chapter)