"Fuck, cotton prices are going crazy. They've been rising for half a month without a break."

In a commercial housing complex in a residential area in Shanghai, professional speculator Wang Xiaoyu stared at the curve chart, feeling extremely nervous.

It is said that with his five years of experience in futures trading, he should have developed a strong mind. Although he had his positions liquidated several times and was heavily in debt, he gradually figured out his own way of investing through continuous attempts.

That is, you should stop when you are ahead. No matter how good the market conditions are, you should never buy a full position. You should take out a portion of the floating profit as a reserve.

Once a loss occurs, no matter how big it is, as long as there is no sign of a reversal in the market, he must cut his losses and leave the market in time, no matter how painful it is. This caution allows him to avoid another margin call and have the opportunity to continue betting.

But this time, the cotton futures market situation really confused him. It kept rising sharply without stopping. He kept an eye on the market every day, ready to run away if the situation was slightly wrong.

But every day when he opened the trading software, he saw that he had made money again. Although the amount was not much each time, the speed at which he made money really scared him.

“从二月涨到七月，硬生生从1万3涨到1万9千多，经历七八月份的反复震荡，一度探底1万8。

In early September, as news of production cuts came out in the main cotton producing areas of the United States, cotton began a new round of rising prices, rising from 1 to 8 in just ten days.

This is too exaggerated. I always feel like something is wrong.

Should I hold my position and continue to wait and see, or should I increase my position to earn more money?"

The continued surge has shaken Wang Xiaoyu's judgment and persistence. Even the most cautious person can't stand it at this time.

"But Qingyun Group is still increasing its positions. The forum is full of news about Qingyun's cooperation with the State Reserves Bureau. Maybe one day they will start to intervene directly."

When doing futures, it is impossible not to look at the news. For example, the Qingyun Group, the largest short seller in the market, is a new financial giant that made billions of dollars overseas just a few months ago.

Few domestic peers can make money in foreign markets, and make a lot of money at that. After all, that is someone else's territory, and investing more money is like playing an open game.

The most taboo thing in investment is that your cards are seen through by others. Even if the market is good and the trend is right, you cannot find a counterparty and can only earn some hard-earned money.

Once a flaw is revealed, the opponent who knows the trump card in advance will try every means to plan and launch a tit-for-tat encirclement and suppression.

The right to interpret the rules lies with your opponent, and you are inferior to others in terms of funds and connections. How can you win?
Therefore, Qingyun Group, which made a lot of money overseas, shorted agricultural products and cotton, and received support from the State Administration of Reserves. Many retail investors and hot money who were unaware of the truth followed suit and shorted as well.

Wang Xiaoyu did not choose to follow blindly, because after his analysis, he concluded that domestic cotton stocks were insufficient and that, on a large scale, everyone had overestimated the impact of the European debt crisis.

However, the speed of economic development in the East was underestimated, which led to a strong recovery in the global economy, and in turn, a surge in demand for textile industry orders.

In this situation, he resolutely chose to go long, and things turned out just as he analyzed, news cannot completely determine the market direction.

Even if Qingyun and the State Reserves Administration enter the market and want to curb the rapid rise in prices of agricultural raw materials, they will not be able to change the fundamentals.

But even with a triple leverage of one million yuan in funds, after a 10% surge in 22 days, the overall profit of his account was still close to 70 yuan, just a little short of doubling his funds.

At this time, closing the position and leaving with profit is no longer within his consideration. What he is thinking about is how to maximize profits while ensuring the safety of the principal profit.

Should I add to my position based on floating profits, or increase leverage?
Thinking of this, he could not help but open the corporate WeChat group. This thing was the software that came with the Panda phone he bought last month. It was quite useful.

It’s better not to mention the QQ interface on mobile phones at this time. Anyway, among those who trade stocks and futures, many people use smart phones to check the market and share information through WeChat group chats.

Even when you are out, you can log in to the brokerage website through your smartphone and perform real-time remote operations. The only problem is that the data consumption is a bit fast, and there will occasionally be freezes and disconnections.

But in this day and age, having something is better than having nothing. With smartphones, these people who are always staring at computers can finally free up their hands to do other things.

At this time, the WeChat group was filled with all kinds of messy information, including those selling blockbusters, recommending the purchase of futures, and so-called insider information everywhere.

Wang Xiaoyu ignored all this and instead skillfully clicked on the group leader's avatar and sent him a smiling face, "Are you there?"

The other party responded quickly, "What is it?"

Wang Xiaoyu asked, "Have you closed your 50-lot long cotton order?"

This time, the group owner did not reply directly. Instead, he waited for a moment and sent a screenshot. Because of the use of wifi, the response speed was very fast.

Wang Xiaoyu only took a quick look and gasped, "Hiss~"

Then he called the voice on WeChat and asked impatiently, "Didn't you hold 50 tons with 250 hands? When did it become 1000 tons?"

The person on the other end of the voice chat laughed out loud: "Add to your position with floating profits, don't be afraid, just do it!"

He also said, "There is inside information. All the big capital and top speculators in Jiangsu and Zhejiang are rushing in to buy more. This is making money. Do you still need to consider it?"

Wang Xiaoyu was extremely envious, but still a little worried. "Ah, the State Reserves Bureau publicly spoke out these past two days, saying that the inventory is sufficient~"

Before he could finish his words, he was interrupted by the other party, "Sufficient bullshit, to tell you the truth, the State Reserve Bureau claims to have more than 100 million tons of cotton on its books, but in fact it has less than half of that.

Textile companies have long used it to produce cotton textile products for export. Don’t you think about the fact that cotton prices have skyrocketed, and textile products have also been rising in price. Foreign orders have skyrocketed in June and July.

If we don’t take this opportunity to earn foreign exchange, when will we earn it? "

Before Wang Xiaoyu could react, the group leader quickly said, "Don't spread this news. I haven't told anyone else in the group. It would be great if you could make money from this great opportunity."

He said he kept it a secret, but in fact, he had said this to countless people.

Because the group leader is also a member of the Jiangsu and Zhejiang capital, this crackdown on the textile industry was a collective spontaneous action. Big capital took the lead in laying a solid foundation, and various hot money took over to enter the market when they saw profits.

Similar to the game of pass the parcel, everyone made money in this round of surge, but as for the losses?
Hehe, Qingyun Group paid for the entire market. As the largest short seller in the market, it has lost nearly 50 billion RMB.

There have been rumors in the market for a long time that Qingyun was chosen by the higher-ups to cool down the overheated agricultural products trading market because it made too much money in the past two years.

In addition, since it always goes forward and backward with the National Reserve Bureau, this rumor has credibility.

In fact, many people are speculating that the Qingyun Group wants to take the opportunity to intervene in the textile industry and establish a broad alliance of interests, but it is just worried about being accused of being too greedy.

Or they may want to prove their strength and influence top-level decision-making through the network of personal connections accumulated by the group, hoping that departments such as the National Reserve will intervene.

With the support of other forces this time, Jiangsu and Zhejiang Capital is determined to fight Qingyun and use its absolute strength to tell Qingyun that in the financial market, having more people and more money is the real power.

Money paves the way for success!

However, Qingyun is not so easy to defeat. It lost 50 billion in China and hundreds of millions of dollars in the Chicago market. If it were someone else, they would have cut their losses and left the market long ago.

But it continues to support, and even launches counterattacks from time to time to push the price down a little. In short, it refuses to admit defeat and still holds on to illusions.

The financial market changes rapidly and no one knows what will happen in the next second. In order to prevent any unexpected events, bulls are trying every possible way to increase their chances of winning.

The easiest way is to recruit people. You can use words like "you can make money from insider information, but I'm telling you don't tell anyone" and so on. It works very well because the prices of agricultural raw materials are rising.

Wang Xiaoyu was gradually tempted, but he hadn't made up his mind yet. "Don't worry, I won't tell anyone. But adding to the position is too risky. What if there is a reversal?"

"Haha, that's impossible, do you know where I just came from?

It is the strategic warehouse of the State Reserve Bureau in Jinhua. This is where textile factories are clustered, with a daily demand of hundreds of tons. However, their strategic warehouse does not even have a thousand tons of inventory.

What does this mean?
The reserves on the front line are only enough for production enterprises to use for ten days. This is a major industrial area. How much is the daily shipment volume of Yiwu Small Commodities Market?

Even the main producing areas cannot guarantee supply. It is conceivable that inventories in other parts of the country are almost reaching the bottom. In this case, cotton prices are bound to skyrocket.

I don’t know exactly how much it will increase, but 22,000 is definitely just the beginning…”

Wang Xiaoyu did not hear the rest of the words. His mind was filled with the news that the warehouses in the main production areas had only ten days' supply. If this was true, it would mean that a bull carnival was about to begin.

"Hearing is believing, seeing is believing. I have to see it for myself."

After figuring this out, he quickly grabbed the car keys and ran out the door...

When he came back, Wang Xiaoyu increased his position to five levels without hesitation and used five times leverage to buy long.

If for no other reason, simply because the situation in Magic City was more serious, he didn't even need to ask anyone when he arrived at the strategic material reserve warehouse.

Just looking at the long line of empty vehicles at the entrance, ready to transport goods but with no goods to transport, is enough to explain everything. I randomly picked a car and stuffed a box of cigarettes into the driver's pocket. After asking around, I found that the situation was far more serious than he had imagined.

Upon hearing this, the driver sneered and said, "Carrying goods? I've been queuing here for two days, and I haven't even seen a delivery truck, let alone a truck carrying goods. All the goods in the queue here are not available.

Since you are so polite, I will tell you another piece of news. In fact, there is not even a ton of cotton left in the warehouse, because I came to pick up the goods half a month ago, and they have all been loaded away.

Now textile factories are worried that they won’t be able to get the new goods into the warehouse. Everyone is extremely anxious and even the robots and workers in the factory are standing still waiting for the rice to be cooked.

I was hired to help queue here, just for fun, but it has nothing to do with me, anyway, someone pays for the waiting fee, and I can make money. "

The actual situation is not as serious as he said. As the owner of a textile factory, how could he not have a sense of crisis? There are some raw materials in the factory warehouse, so there is still a safety stock for half a month.

The key point is that no one knows how much inventory is left in the market now. Even the State Reserve Bureau is out of stock. It is possible that the entire industry will start to face supply shortages next.

It will take at least half a month before the new cotton comes on the market, and the initial supply will not be too large. The most important thing is that I heard that the global output this year is not enough to meet the expected production volume.

"So, cotton prices will continue to rise."

Wang Xiaoyu made the most reasonable judgment based on the information currently collected, so he chose to increase his position.

Unfortunately, his sources of information were not comprehensive enough.

For example, the inventory of major textile factories was not well judged. For example, the inventory of several major state-owned factories was more than two months.

Who actually holds the inventory that disappeared from the market? Was it used up by 8,000 textile companies, or was it secretly hidden by someone?
He knew nothing about this.

But fortunately he was lucky enough.

Just the next day after the purchase, the market began to be flooded with news that the National Bureau of Reserves had hit bottom. It was said that only 50 tons were left, which was only enough to meet the country's needs for one month.

Some also said that there were only 15 tons left, which would not last even ten days.

What is even more coincidental is that a few days later, it is the delivery month of the September cotton futures contract, and Qingyun Group, as the largest holder of short positions, is reducing its positions.

According to insider rumors, Qingyun holds short positions worth as much as 700,000 to 800,000 tons, and it does not have the ability to make physical delivery.

There are also rumors that Yao Xiangjun, president of Qingyun Investment, personally went to Zhengzhou to negotiate with the local Financial Regulatory Bureau, preparing to use the cash difference to make up for the losses from the undeliverables.

And apply for delayed delivery.

This proposal was righteously rejected by the bulls, forcing the boss of Qingyun to fly to Yanjing in person and ask the head of the competent department to negotiate.

Only reluctantly did they get consent to allow Qingyun to postpone delivery for ten days, and make concessions on the specific delivery address, allowing physical delivery in coastal areas with convenient transportation.

Everything is for making money. There is no need to go too far when the other party is dying. If Qingyun takes the risk and turns the table over and doesn't want to play anymore, what awaits the bulls is a long litigation process.

In short, Qingyun was in trouble this time, and he was in trouble completely.

The fact that it came forward to negotiate proves that it has been rejected by the State Administration of Reserves. If the latter has enough inventory, it certainly would not mind using it to cool down the overheated market.

Rejection means that the previous rumors in the market are true!

"Then what are we waiting for? We must launch a general offensive and make Qingyun Group pay the price!"

"As long as the bears are alive, the bulls will not stop!"

"Don't let Qingyun get away. We cannot accept paying the difference in cash. The upper limit of cotton prices is definitely not more than 2. Let's go together."

Under such circumstances where everyone was calling for its suppression, cotton was completely out of control.

The exchange issued warning messages again and again, but they were all completely ignored. Almost all the capital from Jiangsu and Zhejiang, comprador capital and foreign capital rushed into the exchange like crazy and went long in unison.

Qingyun and the main force of the short side had no ability to resist the aggressive capital. After barely holding out for a while, they were defeated.

2万2，2万3，2万5，2万7。

Under the premise that the market is unanimously bullish, a few short sellers cannot cause any waves at all. But what is puzzling is that Qingyun Group seems to have been stunned.

Neither fierce resistance nor timely closing positions to stop losses...

"What a loss! I'm also a bull, okay?"

The National Day Golden Week arrived smoothly, and Li Zehua even had the leisure to travel to Sanya. He had to go out.

People all over the world come to him for information.

But I didn't dare tell anyone, so I could only take advantage of the Golden Week when domestic futures were suspended to escape and have some peace and quiet.

Yang Zhichao followed closely and asked him the first time he saw him, "How can you still laugh after losing so much money?"
Li Zehua responded, "Open your eyes and see clearly, I am the biggest bull in the world. The more I lose in the futures market, the happier I am."

As he spoke, he took out his phone and made a call, "...Leader, I think the time is ripe and we can arrange a public announcement to the market.

Yes, we won’t trouble you today as it’s a holiday. Let’s do it tomorrow. The US market is not closed, so let them fly for two days until domestic sentiment accumulates.

The first thing to do when the market opens is to go long crazily. The price will definitely reach the daily limit, hehe~
Well~Okay, I have prepared in advance, and this time I am determined to catch everyone in one fell swoop.

Well, the funds have been arranged, just waiting for your order, and we will rush in and grab the shares immediately."

After hanging up the phone, Li Zehua reached out and called Wang Fei and Zhang Tao over, "Is there any public event here tomorrow morning? Please arrange it. I want to attend.

Also, call the prepared news media over and remember to take good photos. If you are not satisfied, you won’t be paid. "

Wang Fei's forehead was full of black lines, "Boss, he is a reporter from CCTV Finance, and his shooting skills are absolutely first-class.

There is also the Southern Weekly paparazzi team, who are famous for their candid photos and will ensure that they record everything for you in its original form. "

"That's great, let's arrange it quickly, I can't wait to become famous!"

As Li Zehua finished speaking, Yang Zhichao was confused. Zhang Tao and Wang Fei looked at each other and saw hidden smiles in each other's eyes...

"This is impossible, how could it be possible, damn it, you cheated me out of my money!"

It is the second day of the National Day holiday and many public events are arranged across the country, and Hainan Province is no exception.

With his status as the chairman of Qingyun Group, he can be arranged to go anywhere instantly, and he is guaranteed a front-row seat.

Fortunately, Li Zehua was not confused. He did not look for a celebration event at the government office, but instead found a celebration party held by the local business community, which was outdoors and just right for the performance.

While the local business leader was giving a speech, he openly answered the phone, and after hanging up, he asked someone to switch the big screen to the live financial news.

The leaders of the Development and Reform Commission publicly announced that the National Reserve Bureau’s cotton inventory is less than 30 tons, which is not enough for domestic enterprises to use for 20 days. They may not be able to wait until the new cotton is on the market.
Official certification is the most deadly!
As the translator relayed the news back to America, just three minutes later, prices on the Chicago agricultural products exchange skyrocketed across the board, and cotton prices were suspended for just five minutes.

Because the increase exceeded the daily limit.

The short-selling account under Qingyun Investment was directly liquidated!!!

At that moment, Li Zehua felt hopeless.
He couldn't hold back and stumbled to the ground, and this scene was quickly captured by reporters.

For some reason, the face is not very clear, but this picture is enough~
That afternoon, CCTV Finance published this news urgently, "A shocking fall, hundreds of billions of wealth vanished in an instant!"

Subsequently, the news that Qingyun Group suffered a huge loss of tens of billions of dollars in the U.S. futures market spread quickly.

The exchange, which was currently closed, urgently called its superiors. What if this guy went bankrupt?
The higher-ups couldn't make up their minds at the moment and just said that they needed to study it urgently.

The bulls below were in a state of excitement. Wow! The Qingyun system that had lasted for half a year was finally going to collapse.

Everyone rolled up their sleeves and waited for the trading after the market closed. It was time to give the fallen dog a beating... (End of this chapter)