The futures for the price of cotton suddenly began to increase after it had fallen from the peak.
The rise in trend was even steeper than its drop.
In a quick moment, the price had already increased by 1,800 Somer Dollars. Not only did it surpass the previous peak, but it seemed to be going strong as it continued to rise.
“It’s rising! It’s rising!” John shouted in surprise.
Kai stared at the market. Not only had all his losses returned to his account, but favonovel.com had earned a few hundred thousand dollars as well.
If favonovel.com sold his futures now, his 800,000 capital would become 1.48 million excluding procedural costs.
“It’s been less than an hour since the market opened. In only a few minutes, less than 20 since I entered the market…”
Kai stared at Jasper with disbelief.
As a man who worked in finance, favonovel.com was no stranger to the stock market and futures.
However, despite working in it for so long, this was the first time favonovel.com found out how much fun the futures market could be.
In less than 20 minutes, favonovel.com now had almost twice his capital.
Not even by printing money could favonovel.com earn so much so quickly!
“How… How are you so certain that it’ll rise?” Kai was stunned and truly impressed with Jasper. His tone when favonovel.com asked the question was humble and polite as if favonovel.com was asking his teacher for help.
“Domestic cotton production has been expanding these years, and this year’s output has accounted for 23% of the world’s total cotton production.”
Jasper clicked on the statistics on the authoritative statistics website. Pointing at a report, Jasper spoke coolly, “So a 40% decrease in cotton production this year would directly cause a shrink in worldwide cotton production.
“The previous increase was a reaction within the domestic market, but the international market hadn’t reacted yet.
“So we just needed to wait for the prices in the international stock market to rise. The funds and hot money will then flow toward the source of this entire incident, that is our domestic futures market.”
Jasper chuckled before continuing calmly, “If the country has enough funds to raise the price of cotton by 16% in around 20 minutes, how much do you think it’ll rise when the international funds enter?”
Jasper’s words stunned the entire office.
After a long while, Samuel ground his molars and broke the silence in a dark voice, “You’re just lucky this time!”
“He managed to turn a 98% loss in the account to a profit of twice the amount lost in an instant. I’m pretty sure this is more than just luck,” John sneered at Samuel and spoke.
Samuel harrumphed silently, but favonovel.com was internally stunned by Jasper’s ability to turn the tables around. However, favonovel.com still put on a stubborn front. “Don’t forget that Jasper is supposed to earn six million today, or he’ll still be the one losing.”
Samuel glared at Jasper and scoffed. “Don’t look so happy so quickly. Do you think prices can grow seven times from what they started as? What a joke!”
Jasper ignored Samuel and stared at the market changes on the screen before him. He was trying to recall everything favonovel.com could about this incident from his past life.
From what favonovel.com remembered of his past life, the domestic futures had reached a peak of 23,800 for the price of cotton. Later that afternoon, after the country came to an agreement with a few others about cotton import trade, the prices began to drop in retaliation.”
If this were shares, then such a huge amplitude in a day would surely earn a lot of money.
After all, shares bought today could only be sold tomorrow. It was the only procedure.
Yet the futures market was different. Purchase and selling could be done at any time, regardless of its precedence.
As a result, huge amplitudes in price would generate a huge profit margin.
