At that time, although the London Futures Exchange in the UK did not yet have a fully automatic computer bidding and quotation system, through the real-time trading information on the big screen, price changes could be said to have been fed back very promptly.
When a large number of silver futures and spot products were first sold, it did not cause a lot of panic and selling.
There were even quite a few people who, because they had not gotten the chips before, would immediately buy them up when someone threw some out.
After all, with the current silver and gold prices rising, the more silver futures contracts you can grab, the more money you can make.
However, as soon as one batch of silver is eaten up, another batch is immediately thrown out.
Eat one batch and another batch comes.
What’s even more terrifying is that the number is increasing, as if the other party has endless silver. The more you eat, the more he will throw out.
This time, the market became uneasy.
Like Ho Chun-ting, investors who held a large amount of silver futures immediately became panicked.
After all, futures contracts are leveraged several times, and as long as the price drops too much, they will be forced to liquidate.
"Mr. Huo, silver has already plunged nearly five points in half a day. We have so much silver on hand, should we sell it or not?
If we don’t sell, if the price drops a little more, all our profits will be gone.
If the market continues like this tomorrow, it is not impossible for the account to be liquidated, right? "
The futures broker who was handling the market asked Ho Chun-ting anxiously in pure London English.
Huo Zhenting was also a little flustered, but he still calmed down and said fiercely: "No! Why would you sell? This must be the main force deliberately selling the goods, wanting to lower the price and then buy more.
If we are afraid of the risk and sell it now, we will fall into the trap! Anyway, the price when we entered the market still has some room to go, so we just hold on..."
Yes!
Based on all sources of intelligence, Huo Zhenting felt that there was no reason for silver to fall.
The phenomenon of some people dumping goods now is very unusual. He always believes in his intuition that someone has been quietly purchasing spot silver behind the scenes, and he must want to make a fortune.
The purpose of dumping goods to lower prices nowadays is very simple, which is to drive out the small fish and shrimp who want to hitchhike.
However, his words did not convince the futures broker.
The other party said very seriously: "Mr. Huo, the price of silver has been rising slowly for more than half a month, which is not a normal market.
Now some people are selling large quantities of goods. I think they must have known some inside information before us, so they are in a hurry to sell at high prices.
If we really hold on, we will really be liquidated and lose all our money.
It is better to sell now while there is still some profit to make. "
"No need. The current profit is only over 10 million US dollars. What do I need to do with this little money?"
Huo Zhenting narrowed his eyes and said with determination.
…
Same thing on the mainland.
There were calls every ten minutes about the falling silver prices.
Professor Li and the others looked pale, because in the past two hours, their profits had shrunk by more than half.
He had probably made $30 million before, but now he only has $6 or 7 million left.
They didn't even have time to discuss how to react, the price of silver fell so fast.
"Old Wu, what should we do? Didn't you do an analysis before? Isn't the demand for silver among major international factories growing day by day?
In addition, many silver mines have had accidents and shareholders have disagreements, resulting in a shortage of silver supply. So the price should be rising, right?
Why is it falling now? Why is it falling so much all at once?
In just one afternoon, we lost almost half a month’s profit.”
Professor Li looked very bad, and his voice even trembled a little.
He just boasted in front of the old man for a while, and is waiting to make 100 million US dollars before he can take credit for it from the old man!
It only took a few hours for silver to go from being so smooth sailing to plummeting.
Professor Wu's face was pale as well, and he said tremblingly: "How about this? Let's sell it now while we still have some profit! At least we can keep our capital and give an explanation to the higher-ups."
"No! We can't throw it away now. If we do, won't all our previous hard work be wasted?
Have you forgotten that when we traded soybean futures, it was the same thing? When we encountered a mid-term decline, as long as we could hold on to this wave of market conditions, we would be able to see another counter-trend rise, right? "
Professor Li mentioned his previous experience, which also gave the other professors some psychological comfort.
"That makes sense. If someone is behind the scenes like last time with soybean futures, they definitely don't want anyone to take advantage of them. It's very likely that they deliberately lowered the price to kick us off the train."
Professor Chang also nodded in approval.
Therefore, the three-member professor group unanimously decided to observe the market situation for another two days.
However……
It won't take two days at all, as more and more sell orders are thrown out.
Those small and medium-sized investors who had gotten on the train earlier also panicked and sold their stocks one after another, forming a stampede of escape and pushing the price lower and lower.
The increasingly lower prices forced some highly leveraged investors to close their positions, leading to more selling.
This is a bit like an avalanche. As long as one location starts to collapse, it will form a large-scale chain collapse.
My dear, there is more to this chapter. Please click on the next page to continue reading. It’s even more exciting later!
Continue read on readnovelmtl.com
