When Tian Jiayi heard Fang Hong's words, he couldn't help but put his chin in one hand and said slowly: "The situation has opened up, but the A-share market has always been bullish and bearish. You also said that the next three or four years will be a long and bearish journey. How can we make more money by only going long on one side?”
She tilted her head slightly and glanced at Fang Hong before adding: "Besides, you spend money without blinking an eye. Although the company's current book funds are full, according to your expenditure, can it last for two years? It’s a problem.”
Fang Hongdan said with a steady smile: "The A-share market is bullish and bearish, but short-selling profits are limited, because the decline is limited, and the theoretical decline will not exceed 100%; but long-selling profits are unlimited, because the rise is unlimited, and the theoretical increase is unlimited. As for the upper limit, our long position is that it will not open for a few years, and it will last for a few years after opening. Besides, the company's main profit source in the future will be overseas capital markets."
In other people's markets, Fang Hong wouldn't have too many estimates. Everything was focused on making money. As long as he was given a chance, he would take both long and short positions.
After talking about the company's business, Tian Jiayi immediately said: "By the way, since you said that the market will fall unilaterally starting tomorrow, will my holding of Oriental Yuhong's stock be affected?"
The stock held by the beautiful assistant has now accumulated 2.4 times profit, and its market value has reached 9.2 million yuan. She will soon become a rich young woman worth tens of millions.
Fang Hong smiled and said, "Okay, let's sell it tomorrow."
This stock is also related to the real estate market, and the subsequent unilateral decline of A-shares, in addition to the impact of stock index futures, is also closely related to the country's economic transformation and its beginning to suppress real estate, because the real estate economy is If the current mainstay of the economy is to undergo transformation, real estate will inevitably be subject to intervention and regulation.
Real estate stocks are among the top industry sectors in terms of market capitalization in the A-share market. Industry leaders such as Wanji have a market capitalization of 200 billion. Not surprisingly, real estate stocks will plummet in the future. Even Wanji The stock price has been cut in half.
At the same time, the real estate and banking industries are connected, and the banking sector is the largest weighting sector in the A-share market. Therefore, the sharp decline of these stocks is the core short-selling energy that drives the A-share index to fall.
Unsurprisingly, after the periodic peak, Oriental Yuhong will usher in a series of extreme price drops, with the stock price falling by more than 40 percentage points and approaching the halfway mark.
Fang Hong's position in this stock has already been liquidated in the past few days. Several other medium and long-term stocks have also been sold out. The remaining few continue to be held, and the cashed-out funds are also planned to be used. Do stock index futures.
Qunxing Capital will not go short stock index futures, after all, it is a bit big, but Fang Hong's current personal capital will be divided into part of the position.
After a while, Tian Jiayi said with a smile: "What should I buy after buying it?"
After hearing this, Fang Hong said seriously: "It depends on your performance tonight. If I am satisfied, I will reward you with a doubled stock."
Tian Jiayi rolled her eyes at him, glanced around and saw no one else, then turned to look at Fang Hong with a mysterious look, and whispered with a smile: "Then... let's do something romantic? "
Fang Hong was curious and asked: "Romantic?"
Tian Jiayi said coquettishly: "I'm just going to be more promiscuous and you should go slow..."
Um--?
Fang Hong stared at the beautiful assistant motionlessly for a while, and then he said with a smile: "Good guy, just hearing about these contrasting attributes makes people excited. You understand the boss, and I will let you adjust your thoughts." Understood."
Tian Jiayi stood up from the leisure chair, came to Fang Hong, leaned over slightly and whispered in his ear: "Master~, don't make people wait for too long, otherwise, huh..."
At this moment, Fang Hong was also stunned on the spot: "Uh...?"
The beautiful assistant took the document from his hand and put it back into the briefcase without waiting for him to react. She turned around and took a few steps forward. She suddenly looked back at Fang Hong and cast a charming look at him before walking towards the villa. .
Fang Hong came back to his senses, looked at the beautiful assistant again and said neatly: "When the market opens tomorrow, plug in the battery directly!"
She is so good at it!
…
The next day, Friday, April 16, the last trading day of the week arrived as scheduled.
Fang Hong, who was walking towards the trading room on the second floor, felt very comfortable and said to himself: "If there is something, the assistant can do it. If there is nothing, the assistant can do it. In short, that's it."
A night of romance is truly unforgettable, and the beautiful assistant has also unlocked many new postures.
As the opening time was approaching, Fang Hong, who entered the trading room, also put away his thoughts and turned his attention to the market conditions. He was the only one in the trading room now. Yin Fulei and the others were not here. They were told yesterday that they were not needed today. They come to assist in operating transactions.
Today is the day when stock index futures are listed. Fang Hong already has an account for stock index futures. Today's strategy is very simple. Just short CSI 300 stock index futures on one side.
His current personal account funds, the asset market value of institutional accounts have reached 8 billion, and the personal securities account has also reached 1.5 billion, a total of 9.5 billion. It is only a few days away from breaking through the 10 billion asset scale.
The sharp market drop in the new year did not affect the continued profitability of his account.
It is still difficult to take a large position with the amount of funds for CSI 300 valuation futures, because today is the first day of listing of CSI 300 futures, there are not many funds involved, and the major institutions have not entered the market yet, so no surprises Fang Hong may be the largest main fund after the listing of stock index futures. The specific number of positions to be involved depends on the market liquidity to decide to add short orders.
At 9:30, the main contract opened at 3450 points, and the four major contracts opened higher across the board.
After the opening, the trend went up to 3488 points. At this time, Fang Hong decisively placed 100 lots to open. The corresponding contract value of 1 lot was 1.046 million yuan, and the corresponding value of these 100 lots was 104.6 million yuan.
The maximum order quantity for the Shanghai and Shenzhen 300 stock index futures limit orders is 100 lots each time. Fang Hong has already reached the top price to buy. In addition, unlike the t+1 trading of the A-share spot index, the stock index futures are t+0 trading. mechanism, that is, buying and selling operations can be carried out repeatedly during intraday trading.
With the appearance of Fang Hong's 100 short orders, the futures index dropped from 3488 points to 3469 points on the spot. It dropped 0.54 percentage points from the high point, but it quickly rebounded to 3485 points.
The small opening orders on the market are being traded quickly, but they are all in single digits such as 1, 3, and 4 lots. Occasionally, orders of more than 10 lots appear, and there are short orders and long orders.
Fang Hong’s 100 lots was the first largest short order in the market.
But at this moment, when the futures index fell and rebounded again, because of the t+0 trading mechanism, some people made a few tenths of a percentage point and quickly cut their profits and closed out.
But Fang Hong still calmly opened 100 lots again, and then opened 2 short orders in a row, both of which were 100 lots.
The futures index began to dive to 3426 points, and the drop from the high point reached -1.77%. The transaction prices of these three short orders were 3477, 3451 and 3429 respectively, and the corresponding contract values were 104.4 million, 103.5 million and 102.8 million respectively. .
Currently, Fang Hong already holds 400 open orders, corresponding to a total contract value of about 400 million.
He still continued to open short positions, but then Fang Hong did not open short positions with hundreds of lots to chase positions. Instead, he randomly entered a few numbers and kept opening short orders, regardless of how the market fluctuated in time or what the price was. , it means empty opening, empty opening or mindless empty opening!
The fluctuation on the disk was directly ignored by him.
Other participating stock index futures players can be said to be as fierce as a tiger in their operations. They perform various technical analyses, such as the support, pressure, and breakthrough of the 5-minute K-line and the 1-minute K-line... and then carry out high-frequency trading arbitrage.
Comparatively speaking, Fang Hong's operation can be described as a fool's transaction, just go in and get it done. It is so simple and unpretentious, full of the heavy feeling of a heavy sword without an edge, a skill without workmanship.
To put it bluntly, it’s just a no-brainer, just go in and be done with it, it’s just a lot of money!
However, other players have various technical analysis and frequent buying and selling transactions. One important reason is that they all have leverage, and they are all highly leveraged. The actual amount of leveraged funds may be ten times, twenty times or even fifty times. .
The volatility of the market is 0.2%. If the leverage is 10 times, it will be magnified by 2%, and if the leverage is 50 times, it will be magnified by 10%.
Fang Hong did not use leverage because his capital amount was already very large compared to the current scale of stock index futures. He opened hundreds of short orders and the futures index dropped by 1.77 percentage points from its highest point.
As time went by, Fang Hong continued to open short positions, and did not stop opening positions until the short position reached 700 lots, corresponding to a contract value of about 700 million.
…
