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

Chapter 569: Three Consecutive Limit-Downs!

Fang Qingye entered the living room and saw Zhu Yi, Ye Qingjun, and the others there.

Since they were guests, Fang Qingye and Bai Ou greeted them with smiles and chatted for a few minutes on the sofa. Lin Guangmao then eagerly got down to business.

"Mr. Fang, you have to help us this time, otherwise we're going to jump into the Huangpu River."

Jumping into the Huangpu River is unlikely.

Fang Qingye was also aware that if they couldn't withstand the pressure and their accounts were liquidated, they would be in serious trouble.

It seems they were truly out of ammunition and supplies, otherwise they wouldn't have rashly come to Nanxin a second time, not even daring to make a phone call, and insisting on waiting until I finished fishing.

Fang Qingye knew very well what was going on, but said aloud, "It can't be that bad. I ran into Zhu Yi when I went to Shanghai for a wedding a few days ago. She said that the big bosses of several companies in Jiangsu and Zhejiang have joined forces with you to sell large quantities of methanol in the spot market to drive down prices."

“Yes, but those goods were quickly snapped up, and the spot price not only didn’t fall, but actually rose again,” Zhu Yi interjected.

"Huh? The opponent is that strong?" Fang Qingye was surprised.

"Yes, after a private investigation, we found that Jiang Wei contacted the owners of several chemical companies in Chengdu, not only hoarding large quantities of methanol spot, but also going long on the futures market, preparing to take all the profits."

"Are there any short sellers in Shanghai who are willing to continue shorting? Haven't you contacted any of them?" Fang Qingye asked again.

“We’ve contacted everyone we know, including some futures companies. Those who were shorting have been shorting all along, but they don’t have much capital. Those who were long won’t turn back now, and some aren’t interested in methanol futures,” Lin Guangmao replied.

oh.
Seeing Fang Qingye remain silent, Lin Guangmao earnestly said, "So, Mr. Fang, you must help us this time."

"You guys are really dragging me into this, sigh." Fang Qingye said helplessly, but then changed the subject:
"Alright then, we're all friends, and I can't bear to see you suffer heavy losses. However, my strength is limited, and I can't guarantee that I can defeat the multi-headed enemy."

"Mr. Fang, you can definitely do it!" The group immediately began to flatter him.

After finishing their meal, none of them stayed; they rushed back to Shanghai that very night.

After sitting in the nursery for a while, Fang Qingye and his wife returned to their home by the lake.

"Ye Zi, are you getting ready to go in?" Bai Ou asked as she drove.

“Yes, if we don’t get in soon, Lin Guangmao and the others really won’t be able to hold on,” Fang Qingye said with a smile.

Back home, Fang Qingye went into his study, turned on his computer, and carefully observed the current price trend of M1403. He then observed the trading situation in the spot market and decided to establish a position.

However, I won't forget to call Shi Guangrong.

"Glory, you can go in now."

"Hehe. I've got everything ready, just waiting for you to say something. Lin Guangmao and the others have come to me several times trying to persuade me to participate. Did he go to your place today?"

"Yes, I ended up going fishing, while they just sat in the nursery for half the afternoon."

"Haha, that's quite devout." Shi Guangrong laughed on the other end of the phone.

"Alright, let's not talk about them anymore. Let's talk about the current market." Fang Qingye said, holding the phone in one hand and a teacup in the other, her eyes fixed on the trading screen.

This afternoon, the closing price of the M1403 main contract was 4210 yuan/ton. At what price do you think we should establish a position?

"Based on my analysis, including domestic methanol demand and spot market conditions, 3150 yuan/ton is actually a more appropriate price," Shi Guangrong said over the phone.

"Let's go a little lower, break 3000, and set it at around 2960."

"Ha! Qingye, you're really ruthless. Jiang Wei will probably vomit blood when we get to this point."

"Then let him vomit. Short 10 lots first, and lock the price at the daily limit down!" Fang Qingye said with a smile.

Methanol is sold in lots of 10 tons, with a margin of 10%. At the current price of 4420 yuan per lot, 10 lots would cost approximately 4.4 million yuan including transaction fees!
“Okay, I’ll go too!” Shi Guangrong laughed on the other end of the phone.

"Starting tonight, the market will hit the daily limit down for three consecutive days! Let's first put down the bulls' arrogance!"

"OK!"

Currently, the daily limit down for methanol is ±7%, so three limit downs would be nearly 20%! "Also, find some online trolls to spread rumors that Jiang Wei manipulated the methanol spot and futures markets by opening multiple accounts on his own," Fang Qingye added after thinking for a moment.

"Qingye, deliberately spreading rumors and disrupting market order is illegal, you know," Shi Guangrong reminded her half-jokingly and half-seriously over the phone.

"What rumors? Everything I said is true! If you don't believe me, just wait and see!"

“Okay,” Shi Guangrong agreed.

Fang Qingye is making active preparations.

Jiang Wei, thousands of miles away in Chengdu, is also making preparations.

He is in a good mood today.

After a period of intense fighting between bulls and bears, the bulls have finally gained a decisive advantage.

The large sell orders that used to frequently hit the futures market have disappeared, and the M1503 contract is showing a one-sided upward trend.

Meanwhile, in the spot market, the bosses in the Jiangsu and Zhejiang areas have remained silent, indicating that they don't have much stock to dump.

The next step is for the major players to drive up the price, wait for retail investors to follow suit, and then take the opportunity to sell off their holdings. There are still more than three months left to sell off their holdings.

The short sellers are now completely routed, and no one is putting up any resistance.

Jiang Wei thought for a moment, then went to the wine cabinet in the living room and opened a bottle of 82 Lafite—he had bought it in Paris last year when he went to France to do business.

This is an authentic Château Lafite Rothschild from the Pauillac region on the left bank of Bordeaux, France, and definitely not one of those counterfeit products sold in China.

I poured myself a small cup and drank it all in one gulp.

To be honest, he had drunk Lafite a few times, but he couldn't tell the difference between his bottle and the others.

But the price is a real, hard price!
Sipping Lafite, Jiang Wei turned on his computer and looked at the methanol futures market, which was about to open.

Like other futures products, methanol futures are divided into daytime and evening sessions. The evening session is from 9 pm to 11 pm. Of course, he doesn't personally manage the trading. His assistant, Zhou Fan, and the traders operate the market at the company, and he only plays a supervisory role.

At nine o'clock, the futures market officially opened, and the data on the screen started moving again.

According to the pre-arranged plan, Zhou Fan will invest some funds today to go long and drive up prices. The main short sellers have already given up, and there are only some retail investors offering sporadic resistance, which is not a cause for concern.

Target: Limit up!
Jiang Wei leisurely sipped his Lafite while watching the market, as if he could see the price rise straight up to the 7% daily limit, forming a straight line.
But at that moment, a huge order came out of nowhere, and the rising price curve was hit hard, falling to 4110 yuan!
Limit down!
Jiang Wei was startled and took a closer look.

It was a massive order of 10 lots!
10 lots? 4.4 million RMB?!
Holy crap! Which organization's funding is this?!

But Jiang Wei couldn't worry about that right now; he was thinking about how to break through the limit down!
Otherwise, this limit down will not only completely disrupt my plans, but more frighteningly, it will change the entire trend of methanol M1403, and soon follow-up buying will appear!
But I don't actually have more than 4 million yuan in my hands!
Borrow? Loan? Usury?!

Jiang Wei was nervously calculating in his mind when suddenly another big order came in.

Another 10 lots!

There are now nearly 20 short positions piled up at the limit down price!

Jiang Wei's heart sank into an ice cellar.

That's nearly 10 billion.
Done
Jiang Wei slumped into his chair, and all that could be heard was a "smack".

The wine glass also fell to the ground, spilling bright red ordinary wine all over the floor.

Jiang Wei glanced at it.

That's not wine, it's blood.

The blood on my own body?

He fainted.

(End of this chapter)