Mistaking My Sister-In-Law for My Wife After Getting Drunk! Chapter 358 Smash and Protect the Market

Old Master Chen's stock purchases were all in the steel industry.

Thanks to the developnt of national infrastructure and real estate, the demand for steel had always been very strong.

Steel stocks had large market caps, and a surge in their prices was unlikely, but their trends were quite stable, maintaining a steady rise, what people referred to as a slow bull market.

It could be said that, with such stocks and market conditions, it was already difficult to incur losses, let alone experience a major drop or go bankrupt.

Thinking of this, Old Master Chen chuckled, "Xu Yang, you do have so ability, becoming a billionaire within a year, you've even connected with Zhang Yimin, a top tycoon like the richest man. This ti, your strike against us also shows your strong network, but in the stock market, let alone the richest man, even if the world's richest person ca, it would be useless.

You cannot possibly take down."

Xu Yang let out a cold laugh, "Then just wait. I'm not calling to bicker with you. I'm just reminding you to have a good lunch at noon. Otherwise, I fear you won't be in such high spirits in the future."

After saying that, Xu Yang hung up the phone.

Old Master Chen shook his head with a smile, thinking Xu Yang was overestimating himself.

Still, he summoned his old butler and instructed him to set up a computer connected to the massive television screen on the living room wall.

Soon, the TV screen showed the candlestick charts for the general market and the few stocks he had purchased.

Everyone then had lunch together.

One o'clock in the afternoon quickly arrived, and the stock market's afternoon session began.

On the TV screen, the general market trend was normal. The movents of the three stocks he owned, Northern Steel Company, Southern Steel Company, and Western Steel Company, were very stable without significant selling or buying pressure; trades were happening in dozens or hundreds of shares.

It was fair to say that it was all just small retail investors at play.

The prices of these few stocks were not high, around ten yuan or so.

One lot was a hundred shares, a thousand yuan.

A few dozen lots amounted to a few tens of thousands of yuan, a few hundred lots to a few hundreds of thousands.

In the stock market, investors with this scale of hundreds of thousands were far from rare, they were solidly retail investors.

Twenty minutes went by without any abnormalities. Old Master Chen laughed directly, "It's been twenty minutes, and Xu Yang hasn't made a move, with only a hundred minutes left. I really want to see how he intends to bankrupt ."

As his words fell, the trading screen for Northern Steel Company showed so activity; soone threw out two thousand lots.

Two thousand lots, that is two million yuan.

Typically, retail investors are unlikely to make transactions worth two million yuan at once.

The market price was ten yuan, theirs was nine yuan seventy.

Seeing this developnt, Old Master Chen's face slightly changed.

Throwing out shares at a price three fen lower than the market price ant a loss of thirty thousand yuan.

Under normal circumstances, nobody would do this.

Of course, if soone was in urgent need of cashing out, it was possible.

In his more than ten years of investnt career, he had seen such situations.

With this in mind, Old Master Chen relaxed and could not help but laugh, "What's wrong with , becoming a bit nervous because of Xu Yang's actions, isn't it just soone selling two thousand lots at a low price? As long as no one follows up with a sell-off, it's fine."

The others nodded in agreent; there was no follow-up sell-off watching the trading screen.

Old Master Chen continued, "It must be soone urgently cashing out, that's why they're selling. Northern Steel Company's outstanding shares are worth fifty billion, a two million transaction is but a drop in the ocean."

Old Master Chen scanned the others and continued, "As for my stock matters, there's no need for everyone to worry. We'll keep an eye on the market while discussing a comprehensive plan to take down Xu Yang in one fell swoop."

No sooner had he finished speaking, and before anyone could respond, the trading screen for Northern Steel Company underwent a change.

Suddenly, two hundred thousand-lot sell orders appeared, directly knocking the price down to nine yuan seventy.

Then, a hundred thousand-lot sell orders erged, firmly pressing the price down to nine yuan sixty.

Clearly, soone was hamring down the stock price.

A turnover of three billion, without a doubt, it was Xu Yang making his move.

Retail investors, upon seeing this volu, would think the major holders were offloading their stock, prompting them to sell as well and further drive down the share price.

Indeed, the price trend of Northern Steel Company fully reflected this point.

After those three hundred sell orders of a thousand shares each appeared, hundreds of sell orders of a few to several hundred shares kept selling, continuously driving down the stock price, which plumted to 9.5 yuan.

In just that short period, it had fallen by fifty cents.

While it may seem like only fifty cents, Northern Steel Company's stock price was at ten yuan just before, so a fifty-cent drop represents a five percent fall.

That was already considered a significant drop!

Fortunately, the stock price stabilized at 9.5 yuan and didn't continue to fall.

This developnt allowed Elder Chen to breathe a sigh of relief.

If it had continued to fall, it might have triggered more individual investors to follow suit and sell, potentially sparking an avalanche effect, and no one would be able to pull Northern Steel Company's stock price back up by then.

However, the situation was still dangerous now, and sothing had to be done to turn things around, or an avalanche effect would truly be catastrophic.

Therefore, Elder Chen imdiately commanded, "Buy imdiately at ten yuan to pull the price back."

Elder Chen was planning to rescue the stock.

As long as Northern Steel Company's stock price returned to normal, all would be well.

The old butler imdiately executed the buy order, as he already took over the operation rights of the investnt company's account.

Quickly, five minutes passed.

Thanks to Elder Chen's rescue operation, Northern Steel Company's stock price returned to the ten yuan mark.

So individual investors thought that the recent sell orders were the stock manipulators washing out the market, and many bought in, pushing the price up to 10.2 yuan.

What was a five percent drop had now turned into a two percent gain.

Seeing this situation, Elder Chen couldn't help but laugh.

"Ha-ha, see? Xu Yang wanted to crash the market, and not only did he fail, but he also caused the price to rise!"

However, no sooner had Elder Chen's words fallen than the situation on the trading floor changed again.

Another eight hundred sell orders of a thousand shares each erged, driving the price back down to 9.6 yuan.

The old butler inquired, "Master, shall we continue buying?"

Elder Chen thought for a mont and said, "Buy, push the price back to ten yuan. I refuse to believe he has that much stock left."

Hearing this, the old butler imdiately placed buy orders.

To tank the market, one must have inventory on hand.

Without inventory, it's futile even if you wield a trillion in capital.

Now it seed that Xu Yang had already dumped over ten billion, so he probably didn't have much stock left.

After all, this incident was accidental, and even if Xu Yang held so Northern Steel Group shares, he shouldn't have that many.

The price finally got pulled back to ten yuan.

Just as Elder Chen was about to take a sip of tea to moisten his throat, the trading screen showed yet another change.

A thousand sell orders of a thousand shares each appeared, directly driving the price down to 9.5 yuan, the lowest point of the day.

The old butler looked toward Elder Chen, the intention clear: inquire whether to continue buying to push the price back up.

"Buy!" Elder Chen said in a grave tone.

It should be almost over, right? Xu Yang shouldn't have any stock left, right?

But just as Elder Chen thought this, the trading screen changed again, another thousand sell orders of a thousand shares each appeared.

Damn it!

Elder Chen's face changed, and he almost jumped out of his chair.

Another ten billion, how could Xu Yang possess so many shares?