Chapter 10: The Wealth Code is Back
The following day, Friday, July 25th.
Around 8:30 in the morning, Fang Hong returned to the internet cafe after a week.
Half an hour earlier, Cao Chenghui had already arrived at the cafe, eagerly waiting. As soon as he saw the boss walk in, excitement filled him. He thought to himself: "The wealth code is back..."
Fortunately, he had managed to contact Fang Hong the day before. If it had been a few days later, by the time the boss returned to his hometown, the chance to get rich would have slipped away.
As Fang Hong sat down at the computer next to him, Cao Chenghui immediately started a conversation. After a few words, he quickly asked, "Brother, what is your bank account number? I'll transfer the money to you right away."
Fang Hong, not one to hesitate, nodded and agreed. He also promised to let Cao Chenghui copy his homework during this period and help him taste success. It was a simple routine. To obtain leveraged funds, Cao Chenghui would have to willingly offer superior terms.
Cao Chenghui handed him a pen and a piece of paper, which Fang Hong immediately took. He wrote down the account number and the name linked to the securities account on the paper.
After a while, Cao Chenghui saw that Fang Hong had written "IOU" in the blank space below the account details. He immediately grabbed the pen and paper from Fang Hong, saying, "Hey, brother, that's unnecessary. There's no need for this."
Looking at Cao Chenghui holding the paper and pen, Fang Hong asked, "Are you sure?"
It was clear that Cao Chenghui's actions were a bold attempt to win the boss's favor. Fang Hong recognized this and understood it well.
However, Fang Hong would never operate this way.
There were many ways to achieve the goal, but Cao Chenghui's impulsive behavior, in terms of risk and reward, was a risky move.
If Fang Hong decided to take the money and disappear or refused to accept the funds, Cao Chenghui's money would be lost. It's important to note that Cao Chenghui hadn't even figured out where Fang Hong lived or which school he attended.
"Haha, of course, something as trivial as this doesn't need to be formal. I wouldn't value such a small amount of money from my brother." Cao Chenghui laughed and added, "Let's not talk about that now; the market's about to open. I'll transfer the money to you first."
As soon as Cao Chenghui finished speaking, he quickly left the cafe to make the transfer.
About 30 minutes later, Fang Hong received a text message confirming that 60,000 yuan had been transferred into his account. Cao Chenghui had completed the interbank transfer, sending him 60,000 yuan.
At around 9:20 AM, Cao Chenghui rushed back into the cafe, out of breath from running. It had been five minutes since the stock market's opening bell.
He sat down and immediately asked, "Brother, did you get the transfer?"
Fang Hong nodded and answered, "Yes, thank you."
Cao Chenghui smiled, clearly pleased, and quickly logged into his market software. He transferred 60,000 yuan to Fang Hong, which came from his securities account. After this, 75,000 yuan remained in his current account—down from 100,000 yuan, as he had used the funds to copy Fang Hong's homework and earned more than 30,000 yuan in three days.
By now, Fang Hong had transferred the 60,000 yuan to the securities account. He had 17,500 yuan in the account earlier, and with the new funds, he now had 77,500 yuan available to trade.
Time passed quickly, and Cao Chenghui was growing impatient. His excitement was palpable, and he was eager to make his move.
With the call auction results out, the market index opened down by more than 1 percentage point. Yesterday it stood at 2910 points, and today the direct call auction had brought it below 2900 points.
But with the boss around, Cao Chenghui didn't care about the market fluctuations. As long as he stuck with the boss, every day felt like a bull market, and getting rich was just around the corner.
"Here's what I'm going to do today," Fang Hong said as he looked at the stock chart on his screen. Cao Chenghui glanced at it too, then immediately entered the trade code for stock 000798 (China Water Fish Industry).
This stock had opened up 2.82% higher at a price of 6.20 yuan per share. Last year, during the bull market, this stock had hit a historic high of 11.78 yuan, then dropped to 4.01 yuan in June this year. The market had broken consecutive trading limits.
The market opened at 9:30. After a slight initial dip, the stock price hovered around 6.15 yuan, and Fang Hong took action, purchasing the stock at this price.
One minute after the opening, the stock had traded 6.35 million yuan in value, showing strong early market interest.
Seeing the price start to rise again, Cao Chenghui, following Fang Hong's lead, bought a full position. His average transaction price was slightly higher than Fang Hong's at 6.21 yuan.
Not long after, the stock price began to climb steadily, reaching a peak of 6.42 yuan just ten minutes after the market opened, marking an increase of more than 6 percentage points, before pulling back slightly.
Around 10:00 AM, the stock surged again, breaking through previous highs and gaining more than 9 percentage points. It pulled back slightly by around 3 percentage points afterward.
By 10:30 AM, the stock price surged once more, reaching the daily limit of 6.63 yuan.
"It's reached the daily limit, and the second and third boards are in the bag!" Cao Chenghui exclaimed excitedly.
"Tomorrow, there should be a premium of one more board," Fang Hong said succinctly as he glanced at his position.
Position Details:
Stock Held: China Water Fish Industry (000798)
Shares Held: 12,600 shares
Average Transaction Price: 6.15 yuan
Current Market Price: 6.63 yuan
Market Value of Position: 83,538 yuan
Profit/Loss of the Day: +6,048 yuan (+7.80%)
Floating Profit/Loss: +6,048 yuan (+7.80%)
Total Assets: 83,623.18 yuan
Cumulative Income: +21.81%
With the additional 60,000 yuan principal, the absolute return was growing significantly faster than before, even though the percentage return had fallen from a double to 21.81%.
Fang Hong didn't focus much on the percentage return; the key factor for him was the absolute profit.
Cao Chenghui, who had been copying Fang Hong's trades, had earned nearly as much as Fang Hong that day, since his available funds were now almost identical to Fang Hong's.
Fang Hong then simply said, "Exit."
Without hesitation, he logged off from the market software. Since he had no position left, he didn't need to monitor it any longer, just waiting for the market to open again tomorrow.
The weekend was now upon them, and the next trading day wouldn't come until two days later.
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End of Chapter 10
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