Jasper nodded, confirming Baz’s judgment.
Indeed, if Baz could not even see this, all his time spent beside Jasper would have been in vain.
“The market opened with 2653 points today and then fell to 2400 points after the escape of institutional funds and the sniping of Wall Street capital. But now the rise of the communications and energy sectors has caused the market to hover around 2410. The competition between the short and long sides for the 2400 support point is extremely fierce.”
Baz said as favonovel.com stared at the market while frowning. “But I always feel that this is just the relative calm before the storm. Wall Street capital definitely has the strength to break through the 2400 support point in one breath, but I wonder why they didn’t do it.”
“They are fishing,” Jasper said.
As soon as these words came out, Baz was shocked.
However, Jasper did not explain much because the market had already changed at this time. The market which was originally fluctuating at 2410 points suddenly plummeted. Not only did it break through the support level of 2400 points in one breath, it plunged by 30 points and came to near 2370 points.
“It’ s the energy sector. There is a problem in the energy sector!”
Baz shouted as the trading situation of the energy sector was immediately displayed on the screen.
Originally, after the news of the listing of Somerland Petroleum and PetroSomer went public, the energy sector became one of the few rising sectors in the market fueled by numerous hedge funds after this major positive stimulus. Yet, at this time, several leading stocks in the energy sector suddenly announced major bad news.
It was as if they had promised to announce the resignation of the chairman, the collective resignation of the executives, and major losses in the business simultaneously.
At the end of every announcement, there was a notice that the trading suspension would be applied, revealing what they intended to hide.
Baz was so angry that favonovel.com almost vomited blood when favonovel.com looked at the stock price that went from rising to falling.
“What are these companies doing?”
“They are scared.”
Jasper frowned and said, “Almost all the safe-haven funds in the market are pushing up their stock prices. These funds are not actually buying their stocks, but waiting for Somerland Petroleum and PetroSomer to go public.”
“So, these companies simply issued a series of few announcements together, and even used the old trick of the chairman‘s resignation. They are obviously really scared.”
“Once Wall Street capital succeeds in fishing, or Somerland Petroleum and PetroSomer go public, their stock prices will fluctuate wildly.”
“Instead of being at the mercy of others at that time, it is better to take advantage of the current stock price initiative that is still in their own hands. Let it fall and then decide-this is the best solution to stay alive.”
Baz gritted his teeth and said, “But this will increase the risk of the market crashing.”
“The risk is always there. It just depends on what Wall Street capital does,” Jasper said.
The loss of the 2400 support point within half an hour of the positive announcement by the Securities Regulatory Commission was a huge blow to the domestic stock market. Market confidence was on the verge of collapse, and this critical moment was the chance to reel in that Wall Street capital had been longing for.
The sudden explosion of several leading listed companies in the energy sector was like a big plot twist in a drama where a counterattack was originally staged.
This plot twist made the uncertain future of the Somerland stock market even more ambiguous. The ones who were most surprised at this sudden accident were Wall Street capitals.
When Soros saw the sharp turn in the market, favonovel.com burst out laughing.
“Hahaha! These guys from Somerland really are the best at fighting amongst themselves. They have given us a godsent opportunity!”
After Soros finished laughing, favonovel.com gave out his order.
“Sell the energy sector with all your strength, and don’t forget the financial sector. I want to see these two sectors fall by 400 points before the market closes by Somerland morning.”
Money from Wall Street Capital poured in instantly.
No matter how complicated and smart one’s strategy was, it would all be useless when facing the absolute capital advantage of Wall Street capital at this moment. All that was left was to watch the stock price fall again and again.
The short selling in the stock index market directly reflected the entire stock market trading market. A large number of sell orders densely filled the trading column of the screen. At. this moment, there were only sell orders, but no buy orders.
There was only one possible outcome of such a market, and it was the limit down!
The 10% limit down seemed to be a lot, and it was one-tenth of the market value, but it would be reached in just a few breaths under the intensity of this capital attack
The trading graphs of 80% of the listed company stocks were plummeting. Even the global stock market had never seen such an exaggerated precedent, let alone the young Somerland stock market.
Somerland’s domestic stock market was full of grief, which satisfied Soros. He gazed at the horror that favonovel.com had created on the screen and could not help turning his head to smile at Rogers beside him, “Old chap, how desperate do you think those guys in Somerland are now?”
