Reborn in America, I am a legendary short seller on Wall Street.

Chapter 120 Closing Out the US Sugar Company (4k-word long chapter, please vote!)
Larry hesitated, unsure whether he should follow Henry Williams in shorting the U.S. sugar industry.

The stock of American Sugar had been hovering around $85. Larry had even checked its stock price fluctuations over the previous three months, and it had remained very stable.

However, last Wednesday, news broke that the company had generated unimaginably high profits last year and that management would increase dividend payouts after the company's fiscal year-end settlement in April.

On that day, the stock price of U.S. Sugar jumped to around $120.

Larry was a little disappointed that he hadn't seized the opportunity.

However, the company's management immediately denied the rumors, saying that the company currently has no additional dividend plans and that the company's profits are within the normal range.

Shares of U.S. sugar companies subsequently fell, briefly dipping below $100 on Friday.

However, on Saturday, the bulls, unwilling to accept defeat, kept the stock price above $110, but by the close of trading, the stock had fallen back to $109.

Based on stock price movement patterns, Larry is certain that as the news is disproven by management, the stock should fall back to the $85 level, so shorting the stock at this point is the right thing to do.

If it weren't for Henry Williams's reminder, Larry would have shorted without hesitation.

But here's the question: what exactly did Henry Williams mean?
Why would he suggest this opportunity to himself? Has he stopped recommending bets to the casinos on behalf of the Metropolitan Casino?

Larry even suspected it was a trap, a scheme orchestrated by the Metropolitan Casino and Henry Williams to swindle him...

This is what Larry is struggling with.

Larry suspected that after his frequent appearances at the casino in the Metropolitan area this week, the casino's management might have recognized him.

So, should we seize this seemingly right opportunity or not?

Larry fell into a brief moment of contemplation.

Henry Williams sat back down in his seat, glanced at Larry, and saw that he hadn't made any move yet, a look of anxiety appearing on his face.

Larry didn't even look at him, his mind racing with thoughts.

Soon after, Larry made a decision:

Do it! Why not do it! Since the market shows that the lowest resistance level has moved downwards, we should follow this clue and continue to short.

Besides, regardless of today's outcome, I don't plan to ever appear at the Metropolitan Casino again!
The investigation is over, and Larry has a complete plan for how to complete Congressman Kennedy's commission.

Next, Larry should disappear from the public eye and return to the background.

The last transaction of the day, of course I have to do it.

Thinking of this, Larry looked up at the price list and found that the latest price from the American sugar industry was $105 and a quarter.

Larry walked a few steps to the counter, took out $3500 from his pocket, and slapped it on the counter.

Henry Williams's sale of 2500 shares of U.S. Sugar in one go had already shocked the surrounding customers, but now Larry pulling out a wad of dollars has left the tellers inside the counter and the customers outside gaping in astonishment…

hiss……

There were gasps of shock all around Larry.

"This kid wouldn't be planning to buy so many stocks, would he?"

"My God, he actually put up so much money as a deposit all at once..."

"Which stock is he going to buy? Can I buy dozens of shares?"

……

Ignoring the gasps of those around him, Larry coldly told the trader behind the counter, "Sell 3500 shares of Sugar, now!"

The teller looked up, stared at Larry with an unfriendly gaze for a few seconds, and then turned to look at the front desk manager.

Larry also turned his gaze to the front desk manager.

The other person maintained their impeccable smile, as if they didn't care about anything at all.

The teller turned back to Larry and said coldly, "Sir, are you sure you want to sell so many shares?"

Larry nodded and said in a gentle tone, “Look, this is all the money I’ve earned recently at the Metropolitan Casino. If I make any more money, it’s God’s blessing and my good luck; but if I’m unlucky and lose it all, then I won’t owe you anything, right?”

The teller understood Larry's meaning, nodded slowly, and began to take the transaction slip and fill in the transaction information.

"Sell 500 shares of U.S. Sugar at 105 and a quarter, with a margin of $1 per share."

He filled out seven such forms in a row, and then filled in his name on each one.

Mr. K pretended to be watching the commotion from a distance, observing the activity in front of the counter. He noticed that Larry's right hand, which was on the counter, had only his thumb and little finger extended—meaning not to follow.

After the teller finished filling out the forms, she handed seven transaction slips to Larry and said politely, "Please keep these transaction slips safe. Also, please pay the transaction fee of $1 and three-quarters."

Larry took out two one-dollar coins, gently placed them on the counter, and took seven transaction slips.

The customers couldn't help but whisper about what had just happened at the counter. They glanced at Larry, then at Henry Williams, who sat in the back row with an unpredictable expression, their mouths agape, wide enough to fit a fist.

Immediately, everyone's attention focused on the bid board, eager to see how this unprecedented metropolitan gambling battle would end.

The usually bustling sales hall fell silent, with the clicking of the price quote machine becoming the noisiest background noise.

Larry walked to the counter where the price quote machine was located, pulled over a chair, and sat down directly next to the price quote announcer.

Currently, the overall market is quite weak, the general trend is not good, and individual stocks are generally in a downward trend.

As the price quotes from the quoting machine kept getting lower and lower, everyone secretly thought that the price of American sugar would also fall.

Three minutes later, the latest offer from the US sugar industry arrived.
"US sugar, $104.5!!" the quote clerk shouted, holding the slip of paper between his fingers.

Henry Williams clenched his fist tightly in mid-air, clearly relieved that the inside information he had received was correct...

The people in the lobby also smiled. They had all lost money at gambling dens before, and who wouldn't want to see Metropolis suffer a setback?

Three minutes later, U.S. Sugar submitted its next offer.
"US Sugar, $103.5!"

Sugar stocks fell another $1, and the pullback looks unstoppable.

The onlookers were already buzzing with discussion. Some whispered that if the stock price fell below $100, there would be a rapid decline; some even rushed to the trading desk, following Henry Williams and this man named "Edward Robinson," and shorted dozens of shares of American Sugar...

The grumpy teller continued filling out forms without expression, while the front desk manager simply smiled and greeted the new customers, seemingly oblivious to everything happening inside.

Newcomers to the Metropolitan Casino are often surprised by the eerie atmosphere of the entire lobby...

At 11:05 AM, the latest price of sugar in the United States was $103.

When the clerk called out the price, it was as if a bomb had dropped in the trading hall. Everyone burst into surprised laughter, and some were wondering how much money Henry Williams and "Edward Robinson" had made on their 6000 short positions...

The atmosphere in the entire business hall became light and cheerful again.

$103—that was the stock's lowest price that day. But just then, Larry suddenly frowned deeply. He suddenly disliked the sugar industry's current hesitant and indecisive state.

Larry began to feel uneasy, and this ominous premonition caused fine beads of sweat to slowly seep from his forehead...

At this point, the lowest price for sugar in the United States was $103, which was the lowest price of the day. However, Larry did not feel more confident; instead, he felt completely lost.

Something's definitely wrong!

Larry knew that this strange premonition meant something was going to happen. So many similar incidents before had shown that, even without any clear reason, once this painful premonition arose, he should do something.

"No, I have to quit! I have to sell all my stocks!"

The thought suddenly flashed through Larry's mind. He stood up and greeted a client he had become acquainted with over the past few days, "Mr. Wyman, please sit here. I'd like to ask you to do something for me."

Once Wyman was seated in Larry's seat, Larry continued, "Could you wait a moment before calling out the sugar company's next offer?"

Wyman nodded and said yes.

Larry, clutching the seven sugar company transaction slips, walked to the counter.

Henry Williams watched Larry walk up to the counter and gave him a questioning look, as if to say, "Hey buddy, didn't we agree to wait for at least a 10-point drop?"
If this stock falls below the $100 mark, it could easily drop another 10 points...

But Larry remained unmoved and offered no explanation, instead walking straight to the counter.

As Larry approached the counter, the clerk's face remained ashen, but the front desk manager, who had been calm and composed just moments before, now frowned deeply.

Before Larry could even speak, the price quote machine started clicking and whirring...

The front desk manager and the teller suddenly focused their attention on the price quote machine, their ears perked up, as if eagerly awaiting the next quote to appear...

Sitting next to the price quote machine, Dave Wyman began to drawl out, "Sugar~~~~"

Larry suddenly sensed that some kind of trick was about to be played and felt he couldn't wait any longer. So he strode to the counter and slammed the seven transaction slips down on it.

He shouted at the top of his lungs, "Pingcang Sugar Industry!"

Larry called for closing out his position before Wyman could announce the latest sugar price. According to the betting company's rules, the counter should have closed out the position at the previous price of $103...

But both the teller and the front desk manager completely ignored the transaction slip Larry had photographed...

However, Wyman still quoted a price of "sugar, $103!"

Larry frowned. Based on his understanding of stock price fluctuations, the sugar price should have fallen below 103 by now!
Something definitely seems wrong; I'm surrounded by traps!

The telegraph machine, oblivious to everything, kept clicking and clattering as if it had gone mad...

The teller completely ignored Larry's closing order, instead listening intently to the clicking of the quote machine, as if waiting for something to happen...

"Hey, what are you doing? Damn it, close the position right now! $103, quick!!"

Larry suddenly roared.

The entire sales hall suddenly fell silent; you could hear a pin drop.

All the customers and staff heard Larry's roar and looked towards the counter. Some, not knowing what was going on, quickly asked each other what had happened...

A waiter was serving tea to a customer when Larry's angry shout startled him, causing the teacup to tip over and spill tea all over the customer's trousers...

However, the customer was completely unaware, only staring wide-eyed at Larry and the teller.

Henry Williams stood up and unconsciously took his five orders in his hand, but after thinking about it, he was still reluctant to close the positions now.

Mr. K's fingers were already inside his suit jacket, ready to reach for his gun.

……

The teller's face was long and drawn, his already sour expression now tinged with anger and resentment, but at this moment, he couldn't bear to face the stares of all the customers.

We can't very well refuse a client's request to close their position in front of everyone.

So the teller took a few steps forward, signed "Close position at $103" on the seven slips Larry had photographed, signed his own name, and then angrily slammed them down in front of Larry.

The receptionist, who had been so calm and collected just moments before, now had a livid face...

Seeing that the other party had already signed the transaction form, Larry felt much more at ease. He grabbed seven transaction forms and headed towards the cashier's counter.

The counter was only about eight feet away from the cashier's iron cage, a walk of no more than 10 seconds.

Just as Larry was walking towards the cashier to get the money, Dave Wyman, who was sitting in front of the quote machine, suddenly shouted excitedly.
"My God!! American Sugar, $108!!"

After a brief period of calm and shock, the sales department was suddenly filled with astonishment, and the shouts of amazement nearly lifted the roof off.

$108! US sugar prices suddenly jumped by $5.

Today's record high price has wiped out the margin of all traders who shorted the sugar industry, leaving them with nothing...

Henry Williams stared blankly at the five sugar transaction slips in his hand, unable to believe that these five slips, along with his $2500, had become worthless pieces of paper…

Larry glanced at the pained front desk manager, then at the grumpy teller, and all the Metropolitan employees who looked either astonished or confused, and a faint smile appeared on his face.

"That wasn't how it was just now, was it?"

Immediately, he slapped the seven transaction slips on the cashier's counter.

This is clearly a trap; the Metropolitan Casino is trying to pull a dirty trick to bleed Larry's deposit.

But the people in the Metropolitan area didn't expect that Larry would close his position at the last minute before the event occurred.

The cashier held the seven transaction slips, remained silent for a while, first counted out the cost of $3500 and handed it to Larry, then continued to count out Larry's profit, which was $2.25 per share, totaling $7875 for 3500 shares.

Then, without saying a word, the cashier pushed the $11375 to Larry.

Larry calmly collected all the money and put it in his pocket.

The front desk manager, his face ashen, strode over to Larry and whispered, "Whoever you are, damn it, never come to Metropolis again!"

"Don't worry, I'll never come back!" Larry calmly glanced at the front desk manager, then walked out of the casino with an air of nonchalance.

Larry glanced back at the Metropolitan Casino, but in his mind he was thinking...

"I wonder if this Metropolitan Casino will still be around next month..."

　I admit, I only ate the dumplings because of this dish of vinegar...

　　This may seem somewhat illogical, but it's a true story from Jesse Livermore's life. I think this was one of Larry Livingston's most brilliant early moments, and I'm truly happy to be able to write it down today!
　　Before becoming an author, I was first and foremost a fan of Livermore.

　　Please forgive any shortcomings in my writing. I wish you all to become as rich as Larry!!!
　　Also, please vote for a chapter if you have any monthly tickets. Thank you so much!
　　
　
(End of this chapter)