Reborn in 2012, building a new energy empire

On Monday morning, the soybean meal 1301 contract opened at 3775 yuan, about 0.4% higher than Friday's closing price.

In the first fifteen minutes after the market opened, the price fluctuated within a narrow range of 3760-3780, with low trading volume, ranging from a few hundred to two thousand lots per minute.

On the intraday chart, the curve almost becomes a slightly upward-sloping horizontal line.

Both bulls and bears seem to be waiting for a new catalyst.

The market is digesting last week's huge volatility and waiting for new funds to choose a direction.

The sentiment in the forum began to diverge.

[4000 points will definitely be broken! The drought isn't over yet, spot prices are still rising, hold on tight!]

A double top pattern has formed; 3780 is the second peak. Run now!

[I've also reached my support level. The spot price is only 3250, while the futures price is 3700. With such a large basis, be careful of arbitrage opportunities from oil mills!]

The phone rang at that moment; it was Zhou Mingyu calling.

"Brother Jiang, did I disturb you?" the voice on the other end of the phone said.

"No, I'm watching the market." Jiang Haoran's eyes didn't leave the screen. On the trading screen, a sell order of 2,000 lots appeared at 3780, pushing the price back down to 3775.

"I've read the agreement, and there are some details I'd like to discuss with you in person," Zhou Mingyu said casually. "When is a convenient time for you today?"

"I need to monitor the market during the day." Jiang Haoran glanced at the time. "I can do it in the evening."

"Okay. Then it'll be 7 PM. I'll arrange a quiet place." Zhou Mingyu paused, "I'll send you the address in a bit."

The phone hangs up.

A few minutes later, a text message came in with the address of a private restaurant in the old villa district in the city center.

Jiang Haoran noted down the address and turned his gaze back to the trading board.

10 o'clock sharp.

The price is still consolidating around 3780, neither breaking upwards nor turning downwards.

This kind of market movement is the most agonizing—those holding positions start to feel anxious, while those on the sidelines hesitate.

Fatty Li leaned over and took a look: "Brother Hao, this trend... is it going to fall?"

"What's the rush?" Jiang Haoran pulled up the position data. "Look, the total position is still increasing, which means both the bulls and bears are adding to their positions. Now it's a test of patience."

"Then let's..."

"Wait."

The market remained quiet in the afternoon.

Trading volume was even lower than in the morning, and the market was as stagnant as a pool of still water.

At 2:30, the situation began to change.

First, a sell order of 3,000 lots at position 3780 was absorbed by a large order of 5,000 lots, and the price jumped to 3785 instantly.

Immediately afterwards, buying orders began to pour in continuously, with 2,000 lots, 1,500 lots, 3,000 lots... the price was steadily pushed up to 3790.

Someone on the forum immediately shouted: 【It's launched! Breakthrough!】

However, soon, a large number of sell orders appeared above 3790, and the price remained stagnant between 3790 and 3785 for another ten minutes.

Jiang Haoran stared at the betting odds.

The way those sell orders were placed was quite unique—instead of a single large sell order, they were placed in layers of small orders, numbering in the dozens or hundreds, stacked in the 3790-3800 range.

This doesn't resemble the style of an industrial short seller; it's more like an order placed by an institutional investor.

"Someone is testing the waters," he said in a low voice.

"Try what?" Fatty Li didn't hear clearly.

"Test the pressure from above."

Before the words were even finished, the trading screen moved.

A massive order of 6,000 lots suddenly swept up all the pending orders above at the 3795 price level, sending the price soaring to 3800!

The 3800 mark!

Market sentiment has been ignited.

Buying pressure surged, and the price hovered above 3800 for less than three seconds before continuing its upward climb to 3810.

The volume bar chart spiked sharply.

However, Jiang Haoran noticed that at the 3810 position, there was a dense cluster of small sell orders, layered upon layer, like a pre-arranged defensive line.

Prices were gradually pushed down and fell below 3800.

He switched to the futures index interface, where the overall sentiment in the commodity market was relatively positive, but the gains were not significant.

The market closed at 3 PM.

The soybean meal 1301 contract closed at 3798 yuan, up 1.0% for the day.

The daily candlestick chart shows a small positive candle, with trading volume slightly higher than last Friday, but still within a healthy range.

Jiang Haoran closed the software.

He opened the drawer and took out several documents. The first was his recent course paper on arbitrage pricing in the futures market, and the second was his earlier speech at the Yangtze River Delta Investment Forum.

The second document is a five-page framework for thinking about macroeconomic policies and commodities. The document is only five pages long and covers a broad range of topics, mainly explaining the logic of asset class rotation, timing methods for commodity futures, and a risk budget management system.

The third document is a self-made market analysis chart. It includes the daily candlestick chart of the soybean meal 1301 contract, changes in open interest, the trend of the futures-spot price spread, and weather model forecasts for US soybeans... Each chart is marked with key moments and his trading records.

He hesitated for a moment before putting the last document into the file folder—the statements for his futures account over the past three months. The stack of printouts was thick, showing how his initial principal of several hundred thousand had grown to tens of millions in equity.

This is the most direct proof of his performance, and also his "trump card" that he has reserved.

If the other party makes a show of force at the negotiating table or questions his strength, this silent figure is the most direct response.

Every document was placed in its proper place. He zipped up the file folder with a swift motion. Preparation was complete; what followed was the confrontation upon meeting.

……

At six o'clock sharp, Jiang Haoran took a taxi and set off.

The private restaurant is hidden deep within a cluster of old French-style houses. There is no signboard at the entrance, only an inconspicuous brass plaque.

Pushing open the door, you enter a small courtyard with a skylight, a bluestone path, and swaying bamboo shadows.

The waiter led him through the corridor to the innermost private room.

Zhou Mingyu had already arrived and was sitting in front of the tea table making tea.

Seeing Jiang Haoran enter, he stood up and said with a smile, "Brother Jiang is right on time."

"Young Master Zhou." Jiang Haoran nodded.

The private room wasn't large, but it was exquisitely decorated. There was a mahogany round table, a blue-and-white porcelain vase, and a traditional Chinese ink painting of lotus flowers hanging on the wall. Outside the window was a view of the courtyard at night, and the sound of flowing water could be faintly heard.

"Please sit down, the food will be here soon." Zhou Mingyu gestured for him to sit opposite him and continued making tea. "This is a restaurant opened by a friend, not open to the public, a quiet oasis in the bustling city."

Jiang Haoran sat down and placed his bag on the chair next to him.

"Brother Jiang, what kind of tea would you like?" Zhou Mingyu asked.

"Anything is fine."

"Then let's have Pu'er, ripe Pu'er, it's good for the stomach." Zhou Mingyu skillfully washed and brewed the tea, pouring out two cups of amber-colored tea. "Try it."

Jiang Haoran picked up the teacup, first observing its color, then smelling its aroma, and then taking a small sip. The tea soup was mellow and had a distinct aftertaste.

"Good tea."

Zhou Mingyu smiled and said, "Tea is like a person; it must be savored."

He gave Jiang Haoran a meaningful look. "The gift I gave you last time, Brother Jiang, that figure... Brother Jiang, you really didn't enjoy the blessings of having two women?"

Jiang Haoran put down his teacup, his expression calm: "I appreciate Young Master Zhou's gift. However, I have a habit: I always feel that the things I like are the best when I have them."

Zhou Mingyu raised an eyebrow, then laughed out loud: "You've got character."

He leaned back slightly. "Alright, let's eat first, and not talk about romance."

The waiter began serving the dishes.

The dishes are a modified version of Shanghainese cuisine, beautifully presented and with moderate portions. Stir-fried shrimp, braised pork belly, crab roe tofu, chicken broth stewed vegetables... one dish after another is served.

"Brother Jiang, you must be doing well in business lately," Zhou Mingyu said, picking up a piece of shrimp.

"I was lucky," Jiang Haoran said.

"You're too kind." Zhou Mingyu put down his chopsticks. "I believe in your abilities."

Jiang Haoran didn't reply and continued eating.

The braised pork is cooked until tender and melts in your mouth.

"By the way," Zhou Mingyu wiped his mouth, "your speech at the investment forum had a huge impact. I read it carefully. The part about timing industrial and financial capital was very insightful, and I wholeheartedly agree with it."

Jiang Haoran looked up: "Young Master Zhou, you've gone to so much trouble."

"It's not that I'm trying to be thoughtful, it's just curiosity." Zhou Mingyu lit a cigarette. "It's not easy for a college student to analyze the flow of funds in the upstream and downstream of the industrial chain so clearly. Is that what makes someone a genius?"

"I wouldn't call myself a genius, I just worked a little harder than others," Jiang Haoran said. "I read more research reports, analyzed more data, and thought more."

"Self-taught," Zhou Mingyu flicked his cigarette ash. "That's even more remarkable."

The two chatted about school for a few more minutes before finishing their meal.

The waiter removed the tableware and brewed a new pot of Longjing tea.

Zhou Mingyu took the agreement out of his bag and spread it on the table.

"Then let's get down to business." He became serious.