Chapter 041 Entering the Market with Heavy Positions

Zheng Junpeng, Zhou Yi, and many other colleagues had already arrived.

These past few days, stimulated by Chen Wei, the traders in their group had become much more active. None of the traders from other groups had arrived yet, and the office was nearly full.

When Chen Wei came in, many people greeted him proactively.

Chen Wei smiled faintly in response, not distancing himself but also not being overly enthusiastic.

As he sat down, Zheng Junpeng asked him, "Did you go house-hunting over the weekend?"

"Yeah," Chen Wei replied casually, opening his computer.

"How was it?" Zheng Junpeng asked again, with Zhou Yi also leaning over to listen.

"It was alright. I looked at a unit in Phase II of Shuiqing Muhua. It's pretty good," Chen Wei replied casually.

"Phase II of Shuiqing Muhua? Isn't Phase II already sold out? My friend bought a unit in Phase II, and they just moved in last month! Are you looking at a resale?" Zheng Junpeng asked, surprised.

"No, there are still a few units left," Chen Wei explained.

"The leftovers? You should be careful then. What if there's some property dispute? I've heard that some developers use the houses as collateral for loans. If you buy such a house, it could be troublesome. Not only might it be difficult to get a loan, but you might also have trouble obtaining the property deed," Zheng Junpeng warned, showing some knowledge of the industry.

Chen Wei just smiled faintly, not offering much explanation. He simply said, "I know someone inside, so the house is fine."

Hearing Chen Wei's assurance, Zheng Junpeng didn't press further and asked, "Is the unit you looked at a high-rise or a low-rise? What's the size? What's the unit price?"

"It's a low-rise, first floor, with an area of 138 square meters. The unit price is around 23,000 per square meter," Chen Wei replied.

"That's about right. My friend bought a high-rise, which is cheaper. With the renovation, the unit price is about 19,000. He wanted to buy a low-rise initially, but he couldn't afford it," Zheng Junpeng shared.

Chen Wei just chuckled and didn't say much more.

At this point, Zhou Yi chimed in sarcastically, "Chen Wei, you can't do this! You're a big shot making millions or even tens of millions every month. If you're not going to buy in the eastern part of the city, fine, but you don't have to go to Shuiqing Muhua, right? It's practically in the north of the city! And you're buying houses that others couldn't sell. Tut tut, it doesn't befit your status as a big shot!"

"There are several real big shots in our company who bought houses in the north of the city too. Shuiqing Muhua is quite nice," Chen Wei said casually.

Shaking his head, Zhou Yi sighed dramatically but didn't say anything more.

The conversation died down, and everyone focused on pre-market news.

During this time, Chen Wei adjusted his mood. The matter with Xu Lili still weighed heavily on him, and he couldn't shake off the feeling of discomfort.

Around 9 o'clock, Wang Dongcheng entered.

All eyes in the room turned to him as he walked in.

Even Chen Wei glanced at him a few times.

Without acknowledging anyone, Wang Dongcheng went to his seat, quietly packed up his things—just a notebook, a cup, and a potted plant—and left without saying a word.

Only after he left did the office start buzzing with speculation:

"Was Wang Dongcheng fired?"

"It doesn't seem like it. If he were fired, he could have just come in on Saturday morning to get his things. There was no need for him to come back today."

"I think so too. He probably got transferred to another team."

"If that's the case, it's a bit humane of the company not to fire him."

"But where do you think he went? Which team would take him?"

"I heard he has a good relationship with the new team leader of Team 3, Luo Chen. It seems Luo Chen recommended him to join. If he wasn't fired, then it's likely he went to Team 3."

"Who cares? It's none of our business anyway."

As everyone discussed, Zhao Yang also came in.

Someone asked Zhao Yang if Wang Dongcheng had been transferred or fired.

With a stern face, Zhao Yang scolded, "Why are you asking so many questions? Mind your own business!"

Seeing this, nobody dared to ask any further.

After emphasizing trading discipline once again, especially the strict enforcement of stop-losses and not holding overnight positions, Zhao Yang left.

At half past nine, the stock market opened.

Chen Wei wasn't in a hurry to enter the market, slowly analyzing the stocks.

Before long, Chen Wei noticed a stock.

STML.

It had been over ten minutes since the market opened, but the price of this stock remained stuck between 9.72 and 9.73.

There were over 200 buy orders at 9.72, and several tens of sell orders at 9.73.

It seemed that the buying pressure was slightly stronger, but there were large volumes of half-price dark orders in the transaction records!

The most traded price was 9.725!

These half-price dark orders weren't displayed on the market and couldn't be discerned as buy or sell orders from the order book.

Chen Wei checked the daily chart of STML. Last Friday, the stock had experienced a sharp drop, and today it opened lower as well.

Chen Wei had a hunch. The situation with Xu Lili still weighed heavily on him. He still felt somewhat uncomfortable about it.

A little after 9 o'clock, Wang Dongcheng came in.

Everyone in the room looked up at him as he entered.

Even Chen Wei gave him a few extra glances.

Without acknowledging anyone, Wang Dongcheng went straight to his desk, quietly packed up his things—a notebook, a cup, and a potted plant—and left without saying a word.

The room buzzed with speculation after he left:

"Did Wang Dongcheng get fired?"

"It doesn't seem like it. If he had, he could have just come in Saturday morning to get his stuff. He didn't need to come back today."

"I think so too. He probably got transferred to another team."

"If that's the case, it's a bit humane of the company not to fire him."

"But where do you think he went? Which team would take him?"

"I heard he has a good relationship with the new team leader of Team 3, Luo Chen. It seems Luo Chen recommended him to join. If he wasn't fired, then it's likely he went to Team 3."

"Who cares? It's none of our business anyway."

As everyone discussed, Zhao Yang also came in.

Someone asked Zhao Yang if Wang Dongcheng had been transferred or fired.

With a stern face, Zhao Yang scolded, "Why are you asking so many questions? Mind your own business!"

Seeing this, nobody dared to ask any further.

After emphasizing trading discipline once again, especially the strict enforcement of stop-losses and not holding overnight positions, Zhao Yang left.

At half past nine, the stock market opened.

Chen Wei wasn't in a hurry to enter the market, slowly analyzing the stocks.

Before long, Chen Wei noticed a stock.

STML.

It had been over ten minutes since the market opened, but the price of this stock remained stuck between 9.72 and 9.73.

There were over 200 buy orders at 9.72, and several tens of sell orders at 9.73.

It seemed that the buying pressure was slightly stronger, but there were large volumes of half-price dark orders in the transaction records!

The most traded price was 9.725!

These half-price dark orders weren't displayed on the market and couldn't be discerned as buy or sell orders from the order book.

Chen Wei checked the daily chart of STML. Last Friday, the stock had experienced a sharp drop, and today it opened lower as well.

Chen Wei had a hunch. STML might continue its downtrend from yesterday!

However, STML had already triggered the short-sale restriction (SSR), meaning it couldn't be sold short anymore. Chen Wei could only wait to enter the market with sell orders.

Chen Wei directly placed 300 lots of half-price dark orders to sell short at 9.725.

Then, he placed another 200 lots of sell orders at 9.73.

These half-price dark orders traded randomly, with the more lots placed, the higher the chance of execution.

It was similar to subscribing to initial public offerings in the domestic stock market.

Three hundred lots was already a significant amount, and shortly after placing the orders, they started to be executed one after another.

Additionally, as he placed 200 lots of sell orders at 9.73, others began to follow suit and place short orders at 9.73. The sell orders at 9.73 quickly piled up to over 500 lots.

The 200 lots of buy orders at 9.72 started to diminish rapidly.

Zheng Junpeng searched for a while but couldn't find a good opportunity. He then asked, "Old Chen, got any tips?"

"STML. I'm entering a short position. If you want in, do it quickly. It's about to break," Chen Wei said.

Zheng Junpeng, Zhou Yi, and a few other traders nearby all switched their attention to STML.

"You're telling us now that it's about to break? It's too late for us to get in with such heavy positions!" Zheng Junpeng complained.

"Use the half-price dark orders. You'll get as much as you can," Chen Wei suggested.

The sound of keyboards clicking filled the room as everyone started to place orders.

"Why didn't you tell us earlier? You only tell us when it's about to break. How many can we get in now? How many lots have you placed?" Zhou Yi complained and leaned over to check Chen Wei's screen.