The investment era of rebirth

Chapter 281 The trend reverses and the massacre begins!
Li Meng nodded in response, and quickly issued an order to the traders to continue reducing their positions.

Subsequently, various stocks held by the fund, such as Huatong Securities, Orient Securities, Orient Ventures, Shibei High-tech, Zhangjiang Hi-Tech, Zijiang Enterprises and a number of popular "securities and venture capital" stocks encountered stronger selling pressure. In the market, the stock price fell at a faster rate, and the overall rebound trend of the two cities was completely reversed.

And as these stocks dive...

Many concept stocks in the direction of the small and medium-sized board and the ChiNext also dived, and the sentiment of active funds to follow suit further collapsed.

"Diving again, it's poisonous, why does the index start diving every ten o'clock?"

Seeing that the popular stocks in the market dived one after another, and the rebound was reversed in an instant, some of the retail investors who followed suit were very upset.

"Hasn't Fortune Road already been liquidated on a large scale? Who is smashing it!"

"What the hell, it's really weak. The potential balance letter can't be driven by 11 days and 10 rebounds. It's a hell!"

"I won't cheat again, copy yesterday's trend, right?"

"Probably not. If you really want to kill the market today, there is no need for the main funds to pull the index up from the deep water. I think this wave of diving will definitely be stabilized."

"Even if the rebound fails, it shouldn't fall below the low point in the morning, right?"

"It's hard to say, the 'Three Musketeers of the East' have all collapsed, and no one is making orders for the oversold early popular concept stocks in the direction of the small and medium-sized board and the ChiNext board. The market's profit-making effect is rapidly dissipating. It will become heavier and heavier, and the funds willing to follow suit will only become less and less.”

"Unlucky, unlucky... This game is really depressing."

"Zhezhou Dongfang has turned green, what the hell... it turned green. It was obviously good before, but why suddenly, the selling became so heavy."

"Hey, Wanqi Enterprise has also re-sealed the price limit, mother... I bought the bottom today, and I was buried again!"

"Really... I saw the index fluctuate in early trading, so I shouldn't have entered the market."

"It's been said that Fortune Road's large-scale liquidation and stop profit, the market must have turned. At this time, I was still thinking about luck, and it was really bloody."

"Hey, Orient Securities has also turned green, and sure enough... what a scam!"

"It's really a bullshit bull market!"

"In the past, the market was easy to rise but hard to fall. Any intraday dive can be quickly recovered. Now, looking at the situation... the market has really turned."

"Securities and venture capital were originally speculating on bull market expectations, but now the expectations are almost gone, so securities and venture capital naturally lose the logic of rising, and it is normal to fall? Look at the situation...not to mention falling back to the starting point At the origin, at least a 10% drop is needed to stop it.”

"Securities and venture capital said that expectations have weakened, and the stock price correction is understandable. Then the small and medium-sized board and the ChiNext board have been so weak recently. What is the reason?"

"It's just too much!"

"The ChiNext index has almost doubled from 700 points to 1300 points, and the core constituent stocks in the sector have increased by 2 or 3 times at every turn. Now it is normal to pull back from a high level. After all... no matter how many With good future expectations, the stock price cannot continue to rise.”

"I think it's mainly at the end of the year, the financial side is tight, right?"

"Funds are tense, why weren't they tense before? Why are funds tense in the past two days?"

"Could it be that there is some major bad news in the market that hasn't been announced?"

"Fuck, shit... Huatong Securities has also turned green, hey, today's market looks like... there is no hope!"

Amidst the intense discussions among many retail investors, at 10:35, the Shanghai Stock Index turned green, and the ChiNext Index re-expanded its decline to 1.23%. Almost all popular stocks in "securities and venture capital" encountered heavy selling pressure, and their gains rose from intraday highs. point, it has fallen by more than half, and many relatively weak concept stocks have fallen into the water, and the decline has exceeded the low opening range at the opening, covering all the investor groups chasing positions today.

At 10:38, the whole market fell into a situation of correction and diving.

Two 10 minutes ago, the daily limit had just been sealed, setting a potential balance of 11 boards in 10 days, and the volume of the market once again increased sharply, with a huge number of selling orders gushing out, and the number of closed orders decreased sharply.

At 10:39, Potential Hengxin broke the board, the stock price fell rapidly, and the high space for market speculation was lost.

At 10:40, under the influence of the broken market of the potential balance, the hot money that was actively following the trend in the market retreated sharply, and the popular stocks with hot money gathered ushered in a further dive.

At 10:41, the turnover of Zhezhou Dongfang exceeded 5 million yuan, a drop of 3.33%.

At 10:43, Orient Securities, which followed suit and dived, also fell by 2%, approaching the drop at the opening, and at this moment... Zijiang Enterprises in the concept of "venture capital" suddenly collapsed, falling within 1 minute, that is, From around 1% to 6%, panic disks surged out.

At 10:46, the decline in the Shanghai stock index expanded to more than 0.5%, and the market investment sentiment further collapsed.

At 10:55, the decline of the Shanghai Stock Exchange Index expanded to 1.25%, and the decline of the Growth Enterprise Market Index expanded to 1.79%.

"Teacher, he is still selling!"

Seeing that the index is continuously diving, 'Oriental Ventures, Orient Securities, Huatong Securities, Shibei High-tech' and other Fortune Road stocks that were sold on a large scale on the Dragon and Tiger List yesterday are still showing related synchronous selling, Yanjing, inside the Anlan Fund, in the trading room, Xie Wanting said excitedly: "Look at these stocks...the traces of simultaneous selling are too obvious, and it feels like he still has a very large-scale bargaining chip in his hand, waiting to get out. "

"I saw it." Beside Xie Wanting, Zhou Guohua stared at the big screen in the trading room, the hot stocks displayed on the split screen, and nodded slightly, "There have been billions of selling orders, but in the end there are still a few stocks in my hand." With such a large-scale bargaining chip, this guy...how much money is lurking!"

In his career, he has never seen a trader like Fortune Lu Suyu.

It stands to reason that even if Su Yu deduced the result that the market IPO may restart through other information and news in the market, it is unreasonable to use billions of funds to bet on the outbreak of this line on such a large scale!
Sometimes...he felt that the other party was a gambler.

But sometimes, I feel...the other party is simply a genius in terms of trading, market timing judgment and opportunity mining.

"According to previous predictions and current market signs, I'm afraid it must be at least 5 billion." Xie Wanting thought for a while, and said, "I didn't feel it at all before such a heavy intervention. I really don't know him. How did you do it? When did you start sneaking in?"

Zhou Guohua pondered for a while, and said: "Such a large-scale latent warehouse may have started after the National Day. Think about it carefully... This guy is probably from the briefing organized by the regulatory authorities during the National Day. Judging the result of the imminent restart of the IPO market.”

"The layout is far-reaching..."

"In this wave, most of the profits from the explosion of 'securities and venture capital' fell into his pocket."

"And... from the disk, it seems that many leading institutional funds that have triggered this round of 'securities and venture capital' market are still hesitating."

"The more hesitant they are, the more difficult it will be for them to come out." Xie Wanting said, "Even if the holdings of Mr. Su on Fortune Road are still very large, they have already reduced their holdings by so much in the past two days. In the case of many chips, the cost of the chips in his hand at this moment is estimated to be very low."

"Such a low cost..."

"At the moment when the market liquidity is gradually lacking, and the news of the market's IPO restart is about to land."

"I'm afraid there won't be any hesitation when I smash the plate."

"Other main institutions that have no cost advantage, if they are still hesitating at this time, they will probably be harvested by Fortune Road forever."

"Everyone has a fluke mentality." Zhou Guohua smiled and said, "If everyone thinks that the wealth road has been cleared and the impact on the market has passed, then it is inevitable that they will take a fluke mentality and restart the IPO in the market. Before the official announcement of the news, with the help of the gradually fermenting news, continue to hype and transfer the risk to the majority of retail investors. Unfortunately... Sometimes the performance of the market always backfires, and my own cognition and judgment are always so ridiculous!"

While speaking, he once again turned his attention to the big screen where the market is constantly changing.

I saw that the decline in the Shanghai Stock Exchange has expanded to 1.5%, and the ChiNext Index has fallen by more than 2%. All industries and concept sectors in the two cities have also turned green, and the entire market has disappeared. There is no obvious profit-making effect.

And also at this moment...

Yanjing, inside Shenhua Fund, trading room; and inside Shanghai Yinghui Fund, trading room.

Relevant core traders and fund managers, in desperation, have completely turned long to short, and have actively placed orders to sell at a large scale to reduce position losses and profit retracements.

Similarly, in Shenzhen, Yuhang, Jinling, Yuezhou...etc.

Many main institutions and main funds gathered in the field of "securities and venture capital", after they clearly found that there was a problem with the market's undertaking power, and the market had no chance of turning around, they no longer maintained any market, and began to sell on a large scale to compete for market The remaining liquidity will actively sell down.

As a result, funds from all walks of life fell and cut their positions one after another.

At 11:30, when the market closed at noon, the Shanghai Stock Exchange Index further fell to a 1.87% decline position, while the Growth Enterprise Market Index fell by nearly 3%. The performance of the two markets was extremely tragic.

After the market closes at noon.

In the face of a market that opened low and rebounded, and then fell rapidly, it almost collapsed.

As long as they are still in the market, investors who have not sold their positions on a large scale are all crying at this moment, feeling very depressed.

Among them, Mu Yao, the chief market analyst of Jingda Investment, who only excitedly intervened in the morning and thought he could make a comeback, stared blankly at the frozen market, his heart was ashamed and his face was pale.

He broke his position.

At 11:17 a.m., when Huatong Securities fell below the 3% level, his personal holding account was liquidated by the OTC funding agency he financed. At present, in addition to the principal of 116 million left in the account , and the 2000 lots of Huatong Securities stocks that I bought today but could not sell, I have nothing.

The 5000 million principal he invested basically returned to zero.

The 4100 million usury loans he borrowed were basically zero, and the total loss was close to 1 million.

And such a huge loss could not be covered by himself alone. If his brother-in-law Gu Chijiang refused to save him, he would have to jump off the building.

"Why? The resumption of IPOs in the market is obviously good for the securities and venture capital sectors, so why is it still in this state of continuous decline?" Even though he had squandered his accumulation for many years and owed huge debts, his heart He was also full of dissatisfaction, "It can be pulled up, why do you have to smash it!"

Of course, at this moment, he is not the only one who has this doubt.

Yu Hang, within Ming Fai Capital, He Hong, the product manager of Ming Fai No. 2 Fund, also had the same question as him: "Accordingly, the news of the IPO restart in the market is gradually spreading and fermenting, which is good for the field of 'securities and venture capital'. Ah, the high-level concept stocks in the small and medium-sized board and the ChiNext market, the funds that come out should be concentrated in this area for hedging, and there should be no shortage of undertakings.

"The news of the IPO restart in the market is fermenting and spreading, but this sector has already been hyped in advance, and expectations have been overdrawn." Beside He Hong, Xu Zhongji thought for a while and said, "The favorable position and high position are good for the market. Performance and market trends should still be completely different.”

"But isn't the expectation of the 'securities and venture capital' riots a bull market?" He Hong asked.

Xu Zhongji replied: "Whether it is the bull market expectation or the market's IPO restart news expectation, it should be considered to have reacted during the continuous riot stage of 'securities and venture capital'. Now that the sentiment is ebbing and the market's risk aversion is heating up, no matter whether it is good or bad, That’s all bad luck.”

"It's a good thing we didn't chase this line..."

Xu Zhongji sighed with emotion, secretly thinking that he was lucky.

If they have not resisted the temptation of the coming bull market and chased after the securities and venture capital sectors, there is a high probability that they will also be buried in the market now, and they will be in a dilemma.

"But the news was not really announced." He Hong said, "Actually, I think there is a time difference in information. If the main funds want to make an order, they can take advantage of this time difference in information to pull the market and reduce losses and profits at this moment. The risk of retracement is passed on.”

"And actually..."

"Looking at the market trend from 9:30 to 10:10 in the morning, the main funds in the market are indeed doing this."

"I just don't know why the sudden disagreement started to widen, and everyone turned to run away."

Xu Zhongji thought for a while, and said: "It's probably because the incremental funds in the market are insufficient! Fortune Road exited, and many follow-up funds gathered and moved. It would have followed the recession, so there would not be so much funds to undertake the market rebound, so...everyone saw that they couldn’t pull it up, and they didn’t have the strength to follow the trend and undertake it, so they naturally changed hands and started to smash.”

"But before the collapse of Zhezhou Dongfang, the market in the field of 'securities and venture capital' actually had a lot of undertakings." He Hong said, "I always feel that there are other bad things in the market that haven't been shown."

"Other bad news?" Xu Zhongji was taken aback.

Just as he was about to continue to ask He Hong how he judged that there were other potential major negatives in the market, he saw an important noon announcement popped up on his computer desktop.

Xu Zhongji hurriedly shifted his gaze, took a closer look, and couldn't help showing a look of surprise in his eyes: "Zhezhou Dongfang Group announced a shareholder reduction plan, and Wu Jinghao actually wants to reduce 5% of the shares in his hand within the next three months. According to the current market value of Zhezhou Dongfang, it will cost several hundred million less!"

"The good news of the successful acquisition was only announced two days ago, so it's too impatient to announce the shareholding reduction now?" He Hong also saw this important announcement, "Mr. Wu's food looks a little too ugly."

Xu Zhongji pondered for a while, and said: "I'm afraid it's not that the food is ugly, but that there is a capital chain problem within the Zhezhou Dongfang Group. Otherwise, Mr. Wu should not be so urgent to reduce the holdings. No wonder... Zhezhou Dongfang is going so fast today. It's weird, but it turns out that there are funds in the venue, and I got the news in advance."

"As soon as this shareholding reduction announcement comes out, there will be no hope in the market in the afternoon." He Hong said, "After all, Zhejiang Dongfang is the core leading stock in this round of 'securities and venture capital' market, and the leading stock price has soared. After that, when major shareholders reduced their holdings and collapsed, other similar stocks may have the same hidden worries.”

Just as Ho Hong expected...

After the announcement of Zhezhou Dongfang's shareholding reduction came out, the stock trading forums on the entire network exploded in an instant.

Countless retail investors holding Zhezhou Dongfang directly yelled at them. Others... the group of retail investors who hold the two stocks of Orient Securities, Dongfang Ventures, and other high-level adjustment concept stocks are also worried about the stocks they hold. Influenced by Zhezhou Dongfang, or...became the next Zhezhou Dongfang.

"What the hell, Wu Jinghao's food looks too ugly."

The shareholding reduction announcement continued to ferment. In the main hot money group of Yuhang where Su Yu belonged, there were hot money who participated in the hype of Zhezhou Dongfang.

"After a few daily limits, I saw that the stock price had risen, so I immediately issued a shareholding reduction announcement. It was really ugly, and what was even more ugly was that it was announced at noon. It is ashamed to be the business leader of our Yuhang."

"Profit in the front, shareholding reduction in the back, no one in the entire market is uglier than him."

"Zhezhou Dongfang's previous acquisition case is a bright card, and it has nothing to do with profit at all, right? It just happened to meet the trend of the 'securities and venture capital' market explosion, so it took off and was speculated by various funds. It has become a concept leader and has a considerable market premium.”

"Even so, it can't change Wu Jinghao's ugly eating habits."

"It seems that a lot of people were killed by this thunderbolt in the east of Zhejiang!"

"After all, he is one of the 'Three Musketeers of the East'. After the opening of the board, the relay fund is more than 8 million. Can the people who were killed be less?"

"It's a good thing I avoided the check."

"At that time, I saw the signs of the opening of Zhezhou Dongfang. I also wanted to join it, but then I considered that the check plate was not much smaller than Dongfang Securities, and there was no seat bonus for Mr. Su's Fortune Road, so I let it go. , I didn't expect... now I escaped a catastrophe!"

"The opening of the market in the afternoon, the check has fallen by the limit, there should be no suspense."

"The key is not the issue of this check, but the overall impact of this announcement on the reduction of holdings on the market!"

"Indeed, by doing what Wu Jinghao did, he set a very bad example for all the major shareholders of high-ranking stocks in the market. With this announcement, everyone may have to consider the issue of reducing the holdings of major shareholders of high-ranking stocks. With this There are hidden dangers, who is willing to relay high-priced and popular stocks?"

"Without the drive of high-priced hot stocks, without these stocks to open up the market space, the market can go up like hell!"

"Hey, retreat, retreat, don't be greedy."

"I originally wanted to do an oversold rebound of popular stocks, but now... I dare not do it, for fear of being directly buried by major shareholders."

"Boss Su's Fortune Road seats have all been liquidated and withdrawn, and we really shouldn't be nostalgic."

"Sell it, sell it... It's really exhausting to do these two days."

"The effect of making money is disappearing rapidly, while the effect of losing money is intensifying. The difficulty of making money has indeed increased many times in the past two days. I thought that the potential balance letter would open up space today, and there was an emotional backlash. In the end, the floor did not." If it can be sealed, it is estimated that the check in the afternoon will show another sky-to-floor trend."

"In the morning, the joint efforts of various funds have barely reversed the decline and brought out emotions. However, in the face of the collapse of Zhezhou Dongfang, the market failed to undertake it! If it was undertaken at that time, there should be a decent rebound today , It's a pity... In the end, there is only one way to step on each other."

"Even if it was accepted at that time, it would have collapsed in the afternoon in front of the announcement of the shareholding reduction at noon."

"That's right! Forget it, forget it...the most important thing is to learn to short positions!"

When the news in the group was refreshed quickly, everyone had heated discussions, and they all seemed pessimistic about the market, the time passed 1:[-] p.m.

I saw the two cities that were suspended and resumed trading.

At the moment when the prices of the two cities began to jump rapidly, Zhejiang Dongfang, which was directly hit by the negative shareholding reduction, fell in a free-fall position within 5 seconds, and the price limit was sealed by lightning. All the funds that bought and never entered the market were killed.

same……

Accompanied by Zhezhou Dongfang, a popular and popular leading stock in the field of "securities and venture capital", the lightning limit fell.

The other two stocks of the "Three Musketeers of the East" that have a strong correlation with the trend, Orient Securities and Orient Ventures also plunged in a straight line, and the decline expanded from more than 3 points to more than 6 points in an instant.

Then, when 'The Three Musketeers of the East' fell apart.

All the core popular stocks in the field of "securities and venture capital" related to it are all diving in abnormal movements, and there are endless selling orders on the market.

"Zhezhou Dongfang's lethality is really extraordinary!"

Seeing the limit-down of a stock in Zhezhou Dongfang directly led to the complete abandonment of the line of 'securities and venture capital' by funds, and a rapid plunge without resistance. Inside Yuhang Investment, Li Meng was also taken aback in the trading room: "President Su, the liquidity of the entire market is rapidly drying up. Almost all funds are being dumped, and the market's support is getting weaker and weaker. If this continues...the market will inevitably fall on one side."

"No way." Su Yu said, "The trend has reversed, and the massacre has begun."

From the bottom of the market at the end of June to the present, the stock index can reach around 6 points in one wave, and the ChiNext index can reach above 2500 points in one wave, which is considered to have exceeded many people’s expectations, and it has overdrawn many market expectations in the future. , accumulated a very large profit margin.

Under such circumstances, the index peaked in the short term and the trend reversed.

At a time when future expectations are gradually becoming pessimistic, and huge profit-making orders are beginning to reduce their positions and take profits, especially at this moment when the current market IPO is about to restart, the sharp drop of funds from all walks of life will naturally not be polite, but at this moment, Or the funds that chased higher in the previous few days will inevitably suffer losses.

"We..." Li Meng paused.

"Don't worry about the market, just reduce the pressure." Su Yu didn't wait for Li Meng to finish, and directly ordered, "We don't have many positions left, and the cost of holding positions has been reduced to the extreme. Liquidity reduction will not have much impact on our profit retracement."

"Okay!" Li Meng nodded without saying anything, and continued to carry out Su Yu's instructions.

With the execution of the order, the reduction of the positions of the two funds in the relevant stocks became more brutal, and they were directly selling large orders of thousands or thousands of hands, suppressing the liquidity of the market.

Of course, in the trading environment that has almost reached a consensus, they are not the only ones who are pressing the sell order.

Many hot money, large households, and major institutions, when they find that the market is unable to recover and can no longer rely on emotions to prevent an effective rebound, they almost all reduce their holdings in a liquidation style. After all, at this time... the market trend has just reversed. The investment sentiment in the market has not completely subsided. With a glimmer of hope, there are quite a few retail investors. Although the liquidity is not as good as the previous day or two, it is still sufficient compared to when the market was at its lowest.

If it does not decrease at this time, it is still ample liquidity not to fight for it.

When the market sentiment completely cools down, the market resumes the lifeless and gloomy situation, and starts to shrink sharply, then no one will take over if they want to sell.

in this way……

In the case that almost all the main funds are sold by a large margin.

The market completely lost resistance, and from the moment Zhejiang Dongfang dropped the limit, it became a continuous unilateral decline without any effective rebound.

Finally, when the market closes at 3 o'clock.

The stock index fell 2.87%, fixed at 2321.21 points; the ChiNext Index fell 3.65%, fixed at 1271.46 points. The total turnover of the two cities was 1286 billion, which was smaller than yesterday, but not by much. The big index fell below the 15-day line, and the K-line pattern completely went bad.

In addition to the index, the performance of the sector and individual stocks is also extremely poor.

All industries and concept sectors in the two cities did not have a single red market. Real estate, infrastructure, pharmaceuticals, and petrochemicals fell less than 1 point, and the others all fell by more than 1 point. plate, its decline also reached 2.13%.

As for the popular concept sectors that have received much attention, and their popular stocks, almost all led the decline today.

First of all, the two concept sectors of 'securities and venture capital', which have performed for four or five consecutive trading days in a row, have gone out of the concept sector with an average increase of 20%. Today, these two concept sectors have completely collapsed, with a decline of more than 4%. , and its related core concept stocks, Zhejiang Dongfang fell by the limit, Wanqi Enterprises fell by the limit, Orient Securities and Dongfang Ventures all fell by the limit, Shibei High-tech, Zhangjiang Hi-Tech fell 7 points, Huatong Securities fell 6.86%, Huaxin Securities fell sharply 5.63%...

The second is the related concept of 'restructuring backdoor' which has been seriously oversold, and the related concept sector of ST delisting risk warning.

These two conceptual fields have not shown any performance today, and are still completely abandoned by the main funds. Among them, the market value of Xinwei Group has fallen below 500 billion, which is almost cut in half compared with the peak of 800 billion.

Finally, it was intensively hyped in the early stage, and they have stepped out of the related concept fields of "mobile Internet" and "smart phone industry chain" that have increased several times.

These two areas are also appalling today.

Related popular stocks, such as Huaqingbao, Changqu Technology, Fenda Technology, Netspeed Technology, LeTV, etc., all fell by more than 5%.

There is also the field of "Internet Finance" that has shown a little performance following the line of "Securities and Venture Capital".

Today was also massacred by funds.

Relevant core concept stocks, the Shanghai Steel Union fell by the limit, Huake Jincai, Changliang Technology, and Jinzheng shares fell by more than 5 points.

Faced with such a closing result...

Faced with a retracement of nearly 20% and 30% in two days for many votes.

Investors in the entire market are extremely depressed and unwilling. At the same time, after complaining, many people still hold a little hope for the market outlook.

After all, it has only fallen for two days, and the index is still above the 20-day moving average. Everything... still has hope.

However, when the dragon and tiger list came out.

When the main funds, hot money, and retail investors of all parties in the market saw that Fortune Road was once again listed on the selling list of five popular stocks, they were extremely shocked, and their hearts that had held a glimmer of hope sank to the bottom of the valley in an instant.

(End of this chapter)