Chapter 47: Chapter 047 Betting
In this half an hour or so, there still wasn't a single stock that rebounded.
Chen Wei wasn't particularly anxious. He patiently waited.
All the short positions he currently held were in profit. Some were up by a few thousand, others by just a couple hundred. Altogether, across these dozen or so stocks, he had made over five thousand in profit.
The QTT stock, with over fifty long positions, finally sold out, netting him six hundred and fifty bucks. With that, it had accumulated to a total of seven thousand five hundred.
However, QTT's trading volume had now significantly shrunk. Almost no transactions were happening, and the stock price had dipped back to 5.15. There were sporadic transactions here and there, barely enough to be noteworthy.
Zheng Junpeng hadn't made much from his other trades and asked Chen Wei, "Lao Chen, what stocks are you trading?"
"SSR stocks. Want to join?" Chen Wei smiled and replied.
Zheng Junpeng shook his head and said, "You're addicted again? Those stocks are risky! If one of them rebounds against you, it could spell disaster!"
In Zheng Junpeng's view, Chen Wei's previous success with STML was purely luck. But such good fortune couldn't be relied upon consistently.
Hundreds of short positions—get caught in one or two adverse movements, and you could lose tens of thousands!
Chen Wei casually remarked, "It's not like there are any good stocks to trade. I'll just do a couple randomly. If the situation doesn't look right, I'll bail out."
When Zhou Yi overheard, he exclaimed, "Wow, Chen Wei! Are you out of your mind?"
Zheng Junpeng was taken aback and asked, "What's going on?"
"Old Zheng, come and take a look. Chen Wei is crazy! He's trading SSR stocks simultaneously! MTP with three hundred and sixty positions, NGM with two hundred and eighty-two positions, AXSM with eighty positions, and AXSM is still adding to the short positions. There's also FRAN with a hundred and sixty-seven positions! I'm telling you, he's gone mad! If one of these stocks rebounds, he'll lose tens of thousands! What if his luck runs out, and several stocks rebound simultaneously? He'll end up in the negative for the month!"
Zhou Yi was shouting and screaming with shock.
Zheng Junpeng, along with several other traders nearby, gathered around after hearing Zhou Yi's words. They were all stunned and shook their heads in disbelief.
Not one of them could understand why Chen Wei would take such a risk!
The final words from Zhou Yi resonated with everyone. "He's gone. Truly gone! He's made some money and doesn't know when to stop!"
SSR stocks—was this the right way to trade them?
Even though the current situation seemed profitable, all that profit would vanish with just one rebound!
Two stocks rebounding would wipe out everything he'd made!
Three or five stocks rebounding, and he'd be in the red for the month!
In short, this approach was suicidal!
The God of Wealth might as well dig his own grave; he was burning real money, not just paper!
Zheng Junpeng frowned deeply, saying, "Lao Chen, this is too risky, isn't it? In my opinion, while you're in profit, you should exit now! Don't be too greedy. You've probably made about twenty thousand today. That's good enough!"
"It's okay. No hurry. Let's wait a bit longer," Chen Wei said calmly.
"What's going on? I could hear all the commotion from my office!" Zhao Yang came out of his office, approached, and asked.
"Zhao Ge, we're watching Chen Ge trade. He's fierce, really fierce! Zhao Ge, take a look, isn't Chen Ge something!" someone said, making room for Zhao Yang to join them.
Zhao Yang leaned over to take a look at Chen Wei's screen and furrowed his brows. "What are you doing? Close your positions now! Are you looking to get killed?"
Zhao Yang had been in the business for over a decade. Did he not know the nature of SSR stocks? They were just volatile! A single upward movement could be fatal!
He never traded such stocks himself.
When he saw that not only had Chen Wei entered the market, but he had also entered so many positions simultaneously, Zhao Yang's face fell.
Just as Zhou Yi had suspected, Zhao Yang also felt that Chen Wei had lost his mind. Making a little money, he didn't know when to stop.
Chen Wei remained calm and composed, saying, "What's the rush to close positions? Things are going just fine, don't you see how much money I've made?"
Zhao Yang was furious!
He tapped Chen Wei's desk with his finger and said, "Do you know what you're doing? Close your positions now! Are you trying to commit suicide?"
Zhao Yang was getting increasingly agitated. Chen Wei, however, remained indifferent.
"I told you to close your positions, didn't you hear me?" Zhao Yang shouted angrily.
"Am I doing this, or are you doing this?" Chen Wei, also annoyed by the commotion, retorted coldly.
"Have you grown wings? You don't listen to me anymore?" Zhao Yang pointed at Chen Wei, enraged.
Zheng Junpeng quickly intervened, pulling Zhao Yang back, and said, "Forget it, forget it, Zhao Ge. Let me have a word with Chen Wei. Don't be angry."
Before Zheng Junpeng could say anything further, Chen Wei directly addressed Zhao Yang, "How about this, Zhao Manager? Let's make a bet today."
"What kind of bet?" Zhao Yang asked, suppressing his anger.
"We bet on whether I can make money today! If I make money today, then what I do in the future is my business. You stop pestering me. If I lose money today, then I'll listen to you in the future. Whatever you say, I'll do it. Deal?" Chen Wei looked at Zhao Yang calmly and said.
"Fine, I'll bet with you! I want to see how far your luck can take you!" Zhao Yang sneered. He pulled over a chair from the side and sat down. Today, he wasn't going to trade. He intended to watch Chen Wei.
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