Becoming the King of Bottom Fishing After Going All-In on A-Shares

Zhang Yixing stared at the screen, his lips trembling.

He glanced at Lu Chenzhou's short position: 1,875,000 shares at a cost of HK$16.00.

The current share price is HK$12.00, with earnings per share of HK$4.00. With 187.5 million shares, the profit is HK$750 million.

Adding the 1425 million I just bought, my total profit for today is close to 2175 million Hong Kong dollars.

Zhang Yixing asked incredulously, "Seven and a half million? You made seven and a half million from short selling?"

From 16 yuan to 12 yuan, 187.5 million shares were shorted with a full position...

Yang Cheng's expression changed from shock to deep thought.

He stared at Lu Chenzhou's back for a long time, then slowly spoke, his voice low, as if talking to himself:

"He's not shorting, he's timing."

He was trading "the process of emotions shifting from greed to fear".

Prices will definitely fall during this process.

It's not a possibility, it's a certainty.

Because that's human nature.

He used his entire capital because he had calculated the probabilities clearly.

Not 90%, not 95%, it's close to 100%.

Xia Yaozong, with an unlit cigarette between his teeth, mumbled, "I think I understand now."

This person is not trading stocks.

He's treating the market like a chessboard.

Every step was calculated in advance.

He went all-in on short selling; he wasn't gambling, he knew what he was doing.

Wen Zhiyu stood in the corner, her gaze never leaving the screen.

The profit figures from short positions are jumping: 750 million, 800 million, 850 million... increasing every second.

She calculated her share.

She invested 3, accounting for 2% of the total principal of 150 million.

If the total profit is 2175 million, her share would be 43.5.

43.5 million.

Her mind went blank; her mother's surgery would only cost 30 yuan.

She leaned against the wall, feeling her legs go a little weak.

It wasn't because she was excited, but because she suddenly felt like crying.

For three years, she worked tirelessly to earn scholarships, do part-time jobs, and save every penny, eventually saving 3 yuan.

Today, in just half an hour, the money in her account increased more than tenfold.

But she didn't cry.

She simply stood there, watching Lu Chenzhou's retreating figure, a feeling she had never experienced before welling up inside her.

It's not gratitude, it's not worship, it's a belief.

She believed she hadn't made the wrong choice.

She believed this person was worth risking everything for.

She believes that from this day forward, everything will be different.

When the stock price fell to HK$12.00, Lu Chenzhou's finger twitched.

He didn't wait for a lower price, even though everyone knew the stock price was still falling.

11.90, 11.80, 11.70...

But Lu Chenzhou precisely pressed the close button at HK$12.00.

Next to the short position in BYD (1211.HK), I clicked "Buy to Close Short".

Quantity: 1,875,000 shares.

Price: HK$12.00.

The order has been completed.

空单盈利：4.00港元/股× 1，875，000股=750万港元。

Including the HK$1425 million invested in long positions, today's total profit is HK$2175 million.

Total account assets: HKD 150 million principal + HKD 2175 million profit = HKD 2325 million.

Zhang Yixing stared at his account balance and then glanced at the still-falling stock price.

11.90, 11.80, 11.70... His eyes widened.

"Shenzhou, the stock price is still falling. You bought at 12 yuan, and now it's 11.7 yuan. If you had held on a little longer, you could have made even more profit on your short position."

Lu Chenzhou's voice was calm: "No need, 12 is my target price."

Once we arrive, we'll leave.

The profits that follow are the tail end of the fish.

The fish tail has bones, so there's no need to eat it.

Moreover, the 12 yuan level is the area where many funds that chased the price higher this morning were liquidated.

The margin calls have been largely released, and a technical rebound could be triggered at any time.

The risks outweigh the rewards for future profits.

Zhang Yixing remained silent for a long time.

Then he said softly, "You just said, 'There's no need to gamble on the subsequent fluctuations.'"

Now they're saying, "There's no need to eat fish tails."

All your decisions are "unnecessary."

He looked at Lu Chenzhou: "Don't you ever think 'what if'? What if you could earn more if you held on a little longer?"

Lu Chenzhou looked at Zhang Yixing: "I will think about it. But 'what if' is not the basis for trading decisions; probability is."

When the price is 16, the upside and downside potential are disproportionate, so it's time to sell.

At 12 yuan, the probability of a rebound is greater than the probability of a continued decline, so it's flat.

In this market, making money isn't about seeing the "what if" scenario, but about calculating the probabilities.

"What if" is what gamblers think, "probability" is what traders think.

I went all in short because the probability was close to 100%.

I closed my position at 12, also because of probability.

The closing bell rang at 4 p.m. sharp.

BYD closed at HK$11.90, down 25.6% from its opening high of HK$16.00.

Zhang Yixing stared at the closing price on the screen, then glanced at the string of numbers in Lu Chenzhou's account.

He swallowed hard, his voice hoarse: "Chen Zhou, the market's closed. You made over 2000 million today."

Lu Chenzhou nodded, picked up his water glass, and took another sip.

"Aren't you excited?" Zhang Yixing asked.

Lu Chenzhou put down his water glass and looked at him: "Of course I'm excited."

But what happens after the excitement? You might make money today, but you could lose it all back tomorrow.

What's right today may not be right tomorrow.

In this market, emotions are the most useless thing.

Zhang Yixing remained silent for a long time, then glanced at the corner by the door: "Wen Zhiyu came by earlier and stood in the corner for a long time."

As she left, I noticed her eyes were a little red.

Lu Chenzhou paused for a moment: "She invested 3. Based on today's profits, her share is worth about 40, which is enough for the surgery fee."

Zhang Yixing looked at him, wanting to say something, but ultimately said nothing.

He just wondered to himself, how many more times can this person shock people?

Lu Chenzhou frowned as he looked at the available funds in his account after the market closed in the afternoon.

He wasn't the only one who noticed something was wrong; Zhang Yixing looked at Xia Yaozong, who was still excited, with a puzzled expression:

"We have HK$2325 million in our own funds, and with ten times leverage, it should be HK$2.325 million. Why is it only HK$4650 million?"

Did the financing provider make a mistake? Or is it that they just haven't updated the information after the market closed today?

Xia Yaozong paused for a moment, then looked up at the screen again and again. He took out his phone and dialed the number of the financing provider.

After making several calls, he put down his phone, his face looking rather grim, and his voice was very low:

"The lender said that the world is deleveraging now, and after Lehman Brothers collapsed, all financial institutions are reducing their risk exposure."

With a principal of over 10 million, let alone 10x leverage, no one dares to take on leverage of more than 3x these days.

They gave us a leverage limit of up to 2 times, with interest calculated at the normal brokerage financing rate.

The room was quiet for a moment, then erupted in chaos.

"Holy crap! The 10x leverage is gone?"

"Why? The agreed-upon tenfold leverage is just gone like that, without even a phone call? That's outrageous!"

"This is a Hong Kong-based financing provider, do you think it's in mainland China? Besides, who would dare lend you money now? Everyone's leveraging, you'd be lucky to get double the amount."

Yang Cheng frowned: "With double leverage, the risk is lower, but the return also decreases. With ten times leverage, a single limit-up can double your money, but with double leverage, if the stock rises by 10%, our return will only increase by 20%."

Xia Yaozong shook his head: "The problem is, who dares to offer ten times leverage these days? I asked three financing companies, and as soon as they heard the principal was 2325 million and the leverage was ten times, they hung up the phone without even acknowledging me."

All eyes turned to Lu Chenzhou once again.

He sat in front of the computer, his expression unchanged, his face remaining constant, as calm as a lake.

Lu Chenzhou said calmly, "Twice is fine. We'll have to operate in compliance with regulations sooner or later. It's good to start adapting now."