I'm in the county town, and you say I'm a big shot?

Chapter 406 We've played the first half, now it's time for Rin Mitsushige and the others to take the stage in the second half!
The Shanghai copper market has been quite erratic this year, especially in the fourth quarter, with prices fluctuating wildly. Many experienced futures traders were left bewildered and unable to grasp the volatile prices, resulting in margin calls and forced liquidation.

Fang Qingye remembered that before her rebirth, she had worked in investment banking and traded Shanghai copper for a year, making a fortune by taking advantage of the sharp drop in Shanghai copper prices in September.

However, in November, they misjudged the situation. They thought that after a slight adjustment, the price would continue to fall, and they even thought that the 2008 scenario of a sharp drop in copper prices was about to unfold. So they went short with a large position, but the price of Shanghai copper rose for three consecutive days!
This forced him to close his position and cut his losses, which affected his confidence in subsequent operations, and he almost chose to stay on the sidelines.

This time, Li Wei actually managed to sneak in.

Fang Qingye carefully examined Baoying Fund's holdings details and discovered that the original 4000 million shares of Zixin Pharmaceutical had dwindled to only 1200 million shares, resulting in a loss of up to 9800 million yuan.

购买沪铜2012年1月份合约（cu201201)共计10000手，均价为每吨65000元，沪铜的保证金为5%，共计1.625亿。

And it's short selling!

shit
It seems I'm going to repeat the mistakes I made back then!

Of course, the other side may also reverse course and go long; the shift between bullish and bearish can happen in an instant.

Fang Qingye forwarded the email attachment to Shi Guangrong again and called him: "Guangrong, I sent you an email, take a look first."

"OK!"

After washing up, Fang Qingye lay in bed scrolling through her phone, mainly looking at various news about the futures market. Twenty minutes later, Shi Guangrong called her back.

The first thing he said was, "Holy crap! Li Wei's a sly one this time."

Fang Qingye understood what he meant. Besides the fact that the Shanghai copper market was difficult to predict, another reason was that the Shanghai copper market was very large. Its daily open interest not only ranked first among non-ferrous metals, but also rightfully ranked first among all commodities!
The average daily open interest in Shanghai copper futures reached 145.99 billion yuan throughout the year, which was even higher than the average daily open interest in Shanghai futures!
With such a large market size, it's impossible for large funds to manipulate the market as easily as they could with Zhengzhou cotton or Shanghai rubber.

Fang Qingye laughed and said, "That's none of our business. We've played the first half, so it's Lin Guangmao and the others' turn to play in the second half!"

“I’ve already given him Baoying Fund’s holdings, operational details, and even the trading account. If he still can’t handle it, it just means he was bragging before. If you don’t have the skills, don’t take on the job!”

"Aren't we going to join the game?"

"Not for now. Let's stand by and watch Lin Guangmao and the others perform well!" Fang Qingye said with a smile.

"This is going to give Lin Guangmao and the others a headache," Shi Guangrong laughed.

Lin Guangmao is indeed having a lot of headaches.

After receiving the email from Shi Guangrong, Lin Guangmao spent a full half hour reading it. Then he called Ye Qingjun, Fu Haitang, and Ge Weidong, asking them to come to his house that evening to discuss something. After thinking for a while, he contacted Zhu Yi.

At 7 p.m., the living room of Lin Guangmao Villa was quite lively. The four kings of the futures industry had gathered here, along with the futures goddess Zhu Yi.

However, everyone's expressions were not relaxed.

Unexpectedly, Li Wei of Baoying Fund is trading Shanghai copper!
"Guangmao, is your information accurate?" Fu Haitang asked with some skepticism.

"Fang Qingye gave me this information. I had someone check the futures company where Baoying Company opened its accounts and established its positions. The data does show that Baoying Company has been selling short positions heavily recently, so this information is beyond doubt."

Fu Haitang fell silent.

Ye Qingjun took a sip of tea and said with a smile, "I really admire this Li Wei. He's so bold. The price of copper in Shanghai is fluctuating wildly. It could hit the daily limit up one day and the daily limit down the next, and he still dares to touch it!"

"Fortune favors the bold, and because of the volatile Shanghai copper price, it's difficult for them to predict, and it's also difficult for others to predict." Zhu Yi said this with a meaningful tone.

“Zhu Yi is right. Li Wei knows that touching small-cap stocks like Zhengzhou cotton and Shanghai rubber is suicidal, because not only Fang Qingye, but we're also watching him.” Ge Weidong, who had been silent, spoke up. “His current move to buy Shanghai copper seems risky, but it's actually safe.”

“Brother Ge’s analysis is correct. So what do we do now? Should we enter the market or not?!” Lin Guangmao asked, looking around.

A brief silence fell over the room.

Seeing that everyone was silent, Lin Guangmao spoke up: "I'm going in! Li Wei dared to stab us in the back, this isn't over! Besides, Fang Qingye is watching us! We can't let him laugh at us! He can turn a profitable deal into a loss for Li Wei, and so can we! Haitang, what about you?"

"Let's do it then," Fu Haitang said with a smile, puffing on his cigar.

Seeing Lin Guangmao staring at her, Zhu Yi smiled and said, "Don't look at me. I listen to the opinions of most people, but I'm running a small business, so the investment won't be too much."

Lin Guangmao nodded, then looked at Ye Qingjun and Ge Weidong.

"Brother Ge, what's your opinion?"

"can."

Ge Weidong's simple and straightforward words surprised Ye Qingjun, who had remained silent until now. Deep down, he was unwilling to get involved in this mess.

Unlike the speculation in Zhengzhou cotton and Shanghai rubber, where everyone's goal is basically the same—first go long, then go short—and the smaller market capitalization makes it easier to manipulate, this speculation in Shanghai copper is like a ship in a vast ocean. Facing unpredictable weather and waves, whether it can ensure its own safety is questionable, let alone trying to capsize the ship opposite!

But seeing everyone staring at him, Ye Qingjun had no choice but to say: "I also agree to trade Shanghai copper, but we should have a plan, right? When to build a position? Go long? Or short? Do we need to do wash trading? We need to study this carefully."

Ye Qingjun's words immediately sparked a discussion among the crowd. Some suggested going long, some short, and some said to wait and see.

It wasn't that everyone was doing it on purpose, but the recent trend of Shanghai copper was too strange. Everyone had different opinions on the market, and no one could convince anyone else. As a result, after two hours of discussion, no consensus was reached.

Lin Guangmao also felt helpless.

We're just friends, not subordinates. You can't force someone to short if they want to go long, can you? Everyone's putting in real money!
If the judgment is wrong, tens of millions of yuan will vanish into thin air. You can't just short Li Wei and go long yourself, can you?
That's not called having guts, that's called being a fool.

In the end, we had no choice but to observe the trend of Shanghai copper for two days before making a judgment.

The details of Lin Guangmao and his group's discussion quickly reached Fang Qingye's ears that very evening.

At that moment, he was video chatting with Xia He on WeChat, discussing the provincial banking regulatory bureau's investigation into Nanxin Rural Bank.

The investigation results have just been released, along with the penalty decision.

Due to lax supervision and chaotic internal management of the rural bank, including instances of shareholders misappropriating bank funds, the bank was ordered to rectify the situation within a specified period, return the misappropriated funds (including interest) within one month, and pay a fine of 20 RMB.

"Is this the punishment? It's just a slap on the wrist," Fang Qingye complained.

"What can we do? That's just how the existing laws are." Xia He's tone was also somewhat helpless.

Too
It is now 2011, and the regulation of banks is far less stringent than it was later.

As the two were chatting, Fang Qingye's phone rang; it was Zhu Yi calling.

(End of this chapter)