Inside the COMEX trading floor.
When Lin Huowang's "First Legion," a terrifying main force composed of the Huo family and the Continental Alliance, holding more than three billion US dollars, shifted from "defense" to "offense."
The entire script of the world was completely rewritten at this moment.
On the surface, this is just a financial futures game concerning the global supply and price trend of silver.
It may not seem to have a significant impact on ordinary people, but in reality, due to the strong intervention of the United States, the Hunt brothers were routed and fled in disarray.
The total profit involved is tens of billions of dollars, enough to create ripple effects in the entire international financial market, ultimately reaching ordinary people at the end.
"purchase!!"
After Lin Huowang gave the order, the Huo family also went all out. The chief trader of COMEX, a Wall Street elite codenamed "K", gave the first attack order to the dozens of traders behind him!
"11 US dollars! 5,000 lots!!"
"$11.50! 8,000 lots!!"
Prices are no longer simply "rebounding".
It is no longer a gentle "recovery".
Instead, it's a violent... "jumping"!
$11.00!
$12.00!
$13.00!
...
The candlestick representing the price seemed to defy gravity in an instant, charging upwards at an almost 90-degree vertical angle in a wildly unreasonable manner.
"My God!!"
"A short squeeze! This is a textbook example of a short squeeze!"
"It's insane! The buyer has gone mad!"
Everyone in the trading hall was stunned.
The vast majority of them had already sold off their silver futures during the decline.
These people were just celebrating that they had escaped the "$10" avalanche, but in the blink of an eye, they discovered that an even more terrifying volcanic eruption-like price surge was likely to erupt.
"Who is it? Who on earth is buying it?!"
"Didn't the Hunt brothers go bankrupt?"
"Is it that mysterious buyer? My God! How much money does he have?"
A seasoned trader stared intently at the order book, his voice trembling.
"He's not the only one buying!"
"Look! Those...those small institutions that were shorting at 15 or 20 yuan before! They...they're buying too!"
"It's...it's short covering!!"
"It's a forced liquidation! But there's practically no stock in the market, no sell orders! And we can't open new long positions..."
Yes, short covering.
Those retail investors and small funds who followed Nubikin's lead in shorting the market when prices fell have now become the most terrified and pathetic fuel in the market.
"It's $15.50 now!"
"Oh my god! My account... I don't have enough margin!"
"Forced liquidation! The exchange has started to liquidate my short positions!"
No!
An agent wearing a yellow vest let out a desperate scream.
"I can't accept being forced to liquidate at this price! This is murder! I won't get a single penny back..."
"I was clearly making a profit when it was 10 yuan! Why! Why!"
But the market is just that ruthless.
The huge purchases by the "First Legion" are like a ruthless hand, constantly driving up prices.
At first, there were still some sporadic buy and sell orders. These long positions that hadn't sold immediately dumped all their orders as soon as they saw someone buying at a higher price.
However, when they saw the price start to surge, those who still had long positions held on even tighter and refused to sell.
This reluctance to sell further stimulated market prices, causing them to surge again. Even those short positions that had been liquidated could not be forced to close out. Those short-selling investors not only lost all their margin but also started to owe money.
These forced short covering buy orders, in turn, pushed prices even higher!
This is the vicious cycle of short squeeze and short covering!
$16.00!
$18.00!
$20.00!
The price jumped from $10 to $20 in just half an hour!
This is no longer a traditional "V-shaped reversal".
This is a complete "I-shaped" reversal! It's a violent vertical surge!
...
Hong Kong Island, Hong Kong Club.
The cigar room was deathly silent.
Sir John Newborg had to be helped to sit back on the sofa from the carpet.
He was completely exhausted, and his eyes were fixed on the price display screen in front of him, like those of a dead man.
$14.00!
$15.00!
$18.00!
$20.00!
Those glaring green numbers, every time they jump, feel like they're slapping him in the face!
It's also a slap in the face to all the British-owned executives present!
The more enthusiastic their celebrations were just moments ago, the deeper the silence and fear felt now.
"Preschool..."
James pointed to the numbers on another screen, which showed the internal accounts belonging to their "British-owned short-selling alliance".
"Our...our unrealized gains..."
On the screen, the number that once drove them crazy and gave them a thrill, the glorious achievement of "+1.5 billion US dollars", is now shrinking at an extremely terrifying speed!
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