Chapter 18: You Snatch, I Snatch, Everyone Snatches

Chen Wei had already entered seventy to eighty lots of short positions at 4.30. Although some people were blocking the entrance ahead, he wasn't too anxious, despite feeling irritated.

However, Zhou Yi was extremely anxious. Up until now, he had only entered less than thirty lots and was hoping to enter more to make a big profit.

While cursing those who were snatching prices shamelessly, he also placed a hidden order at 4.28...

Others were doing almost the same as Zhou Yi—cursing while secretly pushing down the price.

With the pushing and pulling, the selling price quickly dropped to 4.22.

The few buy orders that were originally at 4.20 were suddenly taken out, and the stock price dropped to 4.15.

Carefully observing the market, Chen Wei felt that the stock was unlikely to drop significantly in the short term, mainly due to the pressure from the large sell orders above. If those big sell orders didn't continue to push down, it would be difficult for the stock price to drop too much.

Considering this, Chen Wei decided to place a stop-loss order at 4.12.

Although the momentum of this stock was weak, it was mainly due to those big sell orders above. If those orders stopped pushing down, the stock price would likely stabilize.

While others were still scrambling to enter the market, hidden orders had already pushed the price down to 4.18.

There weren't many buy orders at 4.15, and they were quickly taken out, revealing Chen Wei's stop-loss order at 4.12.

However, there were still dozens of buy orders at 4.10.

Since the opening, the stock price had dropped more than a cent. Looking at the chart, it seemed like a downward trend had formed.

More and more people were shorting the stock. Chen Wei's nearly eighty short positions displayed as five lots of stop-loss orders, and most of them had been filled. Only a dozen or so remained.

However, others also noticed this as a stop-loss order, so the downward momentum slowed down a bit.

"I'll be damned, 4.12 is a stop-loss order. What should we do?"

Someone exclaimed.

"Should we sell first? I've entered quite a lot. If it reverses upward, I'll be in trouble too."

Another person suggested.

Then, Chen Wei saw several orders placed at the 4.12 buy price.

It was obvious that these were exit orders from others.

Glancing at Chen Wei's side, Zhou Yi was surprised to see that the five-lot stop-loss order at 4.12 was placed by Chen Wei, and most of it had been filled. Zhou Yi frowned and whispered, "Why did you exit here?"

In Zhou Yi's view, if the stock broke below 4.10, it should still have room to move downward. He couldn't understand why Chen Wei chose to exit at this point.

In the past, Zhou Yi wouldn't have cared about Chen Wei's actions, but now it was different. Chen Wei had proven his judgment to be very accurate. As a precaution, Zhou Yi felt it was better to ask for clarification.

He currently held over sixty short positions, most of which were entered at a less favorable price. If the stock reversed even slightly upward, say to 4.30, he would lose several hundred.

Chen Wei chuckled at Zhou Yi's question and replied calmly, "The manipulators haven't intervened yet. Do you think that we small traders alone can push down the stock price?"

Zhou Yi suddenly realized!

Yes, the manipulators hadn't intervened yet! It had been only them, the small traders, who were pushing down the price all along!

In this office alone, there were over twenty traders, each holding dozens of short positions. If the stock reversed even slightly upward, according to their temperament, wouldn't they panic and rush to close their positions?

In the end, these small traders were undisciplined, just thinking about themselves and not considering others.

Realizing this, Zhou Yi no longer hesitated and placed an exit order at 4.12.

The buy orders at 4.12 became thicker and thicker.

Soon, the transaction records showed someone had exited at 4.13.

Then 4.14, 4.15, 4.16...

Just as before, the small traders began to rush to close their positions.

Zhou Yi cursed loudly, pounding the table.

Others cursed too.

Cursing and pushing up the prices...

Chen Wei shook his head and smiled bitterly.

Fortunately, he had already exited more than sixty lots at 4.12, earning over 1100 yuan, and he still had over a dozen lots left. He wasn't concerned.

Chen Wei simply placed another two hundred short positions at 4.30.

While others were still competing to exit, the buy and sell orders weren't thick on both sides, and the price quickly returned to 4.20.

Some people had entered short positions below 4.20, and by now, they were already experiencing losses. Desperate, they directly pushed up the price to exit.

The stock price instantly reversed to 4.30.

Even the nearly 1800-lot order at 4.30 was directly reduced by five hundred lots.

Chen Wei's previous two hundred short positions, with only about seventy filled, still had over a hundred and twenty lots left at 4.30. Together with the two hundred short positions he had just placed, and the dozen or so short positions that hadn't been exited yet, Chen Wei now held over three hundred and thirty short positions.

"Snatching! Everyone's snatching like crazy!"

Zhou Yi cursed again, banging the table.

He had over sixty short positions, hadn't made any profit, and was now facing losses of several hundred!

"What's going on? Why all this noise!"

Zhao Yang came out of his office and shouted.

He had just finished trading in his office and heard the chaos outside.

Hurry up and finish, come out and see what's going on.

After coming out, he checked what one of the traders had done and said, "Wow, you've earned quite a bit! Over three hundred! On Casi? Shorting?"

The trader nodded without saying much.

The others, however, started clamoring!

"I'll be damned, Wang Dongcheng, was it you who snatched the price? We're all losing money, and you're the only one making money, are you still a human!"

"That's right, you're really despicable! If it wasn't for you snatching the price, we wouldn't be losing money!"

Several traders who had lost money immediately stood up and were about to go over and argue with Wang Dongcheng.

"Sit down, all of you!"

Zhao Yang shouted coldly, and the few discontented traders sat back down.

But they kept grumbling.

"What's going on here?"

Zhao Yang asked those few again.

Those few explained the situation to Zhao Yang one by one.

After listening, Zhao Yang glanced at Wang Dongcheng, remembered the situation when Zhou Yi had been snatching prices with him the day before yesterday, and was also somewhat angry. But there was really nothing he could do to blame Wang Dongcheng too much. After all, he couldn't prevent him from entering or exiting the market!

In the end, he had to comfort the few who had lost money and admonish everyone not to rush into doing the same stock.

After finishing speaking, he walked around and looked at what others were doing. As a result, most of them were losing money.

Zhou Yi's short positions hadn't exited yet, and he was now facing losses of several hundred.

Only when Zhao Yang saw that Chen Wei had earned over a thousand yuan did his face darken, and he said in a deep voice, "Chen Wei, did you also snatch the price!"