The investment era of rebirth

Chapter 283 The main force killed by Fortune Road!

At 9:32, Fenda Technology rose by more than 7%, and the ChiNext Index rose by more than 1%.

At 9:35, Huashang Securities rose by more than 5%, Huaxin Securities and Huatong Securities rose by more than 2%. Even Dongfang Securities, which opened sharply lower due to the influence of Zhejiang Dongfang, also became popular from the bottom of the water at this moment, and at the same time... …Led by the rapid rebound of the securities sector, the Shanghai Stock Exchange Index rose by 0.85%, approaching the 1% mark.

At 9:38, Zhejiang Dongfang, which opened with a limit-down limit, began to loosen, and a large number of bottom-hunting funds poured in.

At 9:42, Fenda Technology hit the daily limit, and other related "smartphone industry chain" concept stocks also followed suit, and the ChiNext Index jumped to 1.5%.

"What are you doing, attacking so fiercely all of a sudden!"

Seeing that the index and related popular stocks rebounded across the board, among the retail investors in the market, some retail investors who sold their positions at the end of yesterday were instantly dumbfounded.

"It's not really a back bag, is it? What the hell... This is the lowest point again."

"Let the market fly for a while. Wasn't it a hot and good trend in early trading yesterday? As a result, after 10:[-], it completely changed its appearance. The index opened so much higher today, and it was so eager to rise. The volume of the entire market can , didn’t release it at all, I think... it’s going to be difficult to hold it steady!”

"It's good, and the market has fallen so much in the past two days, maybe it can be stabilized."

"The future pension plan that the relevant agency said yesterday, is it true or false?"

"Whether it's true or not, it's nothing at the moment. Didn't it take a long time before the last round of social security funds entered the market? And...even if it really enters the market, can it change the macro trend of the market? I'm afraid that in the end... it won't change anything, right?"

"What about the performance? The performance announced by Huashang Securities and Fenda Technology yesterday clearly exceeded expectations!"

"The performance of Huashang Securities should not be representative of the entire brokerage sector, right? As for Fenda Technology... the core stocks related to the concept of 'wearable devices' and the concept of the entire 'smartphone industry chain', the performance is indeed good, but These stocks...the stock price has also risen several times, and the expectations have long been sold out, so it's hard to say how much room there is to go up, and...the center of gravity of the recent market is obviously not on the GEM!"

"No matter what the performance or benefits are, anyway, at this time, I will not be fooled again. This kind of situation of high opening, shrinking and high going, whoever chases is stupid."

"Indeed, judging from the daily K-lines of the three major indexes, the shape has completely gone bad!"

"I don't believe that the adjustment will end so soon."

"Don't chase, don't chase, resolutely don't chase!"

"Wealth Road has been cleared and sold, chasing wool! It's really strong... Then let's see if we make a new high first. If we make a new high and release the energy, I will chase the position."

"Let's wait until 10:[-] to see. The early shrinkage is probably a scam."

"Unless Huashang Securities can reach a daily limit, I will enter."

"I still hope that there will be a strong rebound. What the hell... I chased the high and was buried in Zhezhou Dongfang. I hope the market can rise a little today so that I can come out of Zhezhou Dongfang."

"Didn't Zhezhou Dongfang increase the amount just now?"

"Didn't pry it open! What the hell...the ones at the front are all major orders, and they don't have the channel advantage, so the wave just now couldn't get out at all."

"Zhezhou Dongfang also pried a wave. It's not bad. It's miserable that I was buried in the potential balance letter. I just said "immeasurable", and there was no money to pry the board at all."

"That's it. The two popular votes in the market have fallen by the limit. I really don't believe how far the market can rebound."

"Not necessarily. Fenda Technology has just blocked the daily limit, and the market volume can start to be released."

"Hey...Zhezhou Dongfang's limit has been opened, and the 'Oriental Three Musketeers' are all rising in a straight line. The market feels that it has really released its capacity!"

"I feel that the market is really going to reverse the package today!"

"Wealth Road, the bright light of the market, isn't working anymore? It shouldn't be!"

"Looking at the situation, the GEM is going to move towards a 2% increase. In addition to the rise of the related concept sectors of the 'smartphone industry chain' with 'wearable devices' as the core, the 'Mobile Internet' related to the weight direction of the GEM The concept sector, and its core stocks, have also begun to move up."

"Could it be... that the adjustment is really over?"

"It feels like the center of gravity of the market is shifting to the two core main lines of 'Mobile Internet' and 'Smartphone Industry Chain' in the direction of the GEM!"

"Looking at the situation... Could it be that Fortune Road is redeploying and adjusting positions?"

"Whether it is or not, anyway, I will not chase positions on the left side. If Fortune Road really starts to increase its two main lines of 'mobile Internet' and 'smart phone industry chain', then this afternoon, Fenda Technology's On the Dragon and Tiger List, you will definitely see traces, and when the time comes...seeing that Fortune Road really shows up, it won't be too late to increase your position."

"I also think... At this time, it is still prudent to chase the price up!"

With the rapid rebound of the market and the continuous discussion of the majority of retail investors, the emotional differences in the market have not decreased, but have intensified.

And this time...

At 10:10, the Growth Enterprise Market Index rose by 1.89%, one step away from 2%.

At 10:15, 4 stocks in the 'Wearable Devices' concept sector hit the daily limit, and in the related 'Apple Concept' sector, the core popular stocks Xinwei Communication and Anjie Technology have also exceeded 7 %, there is a great momentum to hit the daily limit.

At 10:21, the stock index rose by 1.3%, and Huashang Securities rose by nearly 7%.

At 10:26, the stock index rose by 1.5%, and the gem index broke through the 2% increase, recovering most of yesterday's decline.

At 10:30, amidst everyone's expectations and anxiety, the Shanghai Stock Exchange Index, Shenzhen Index, and ChiNext Index did not show any significant dives, and maintained a good oscillating trend at a high level.

"No diving, hold on!"

Seeing that the Shanghai Stock Exchange Index rose by 1.5%, and the ChiNext Index remained volatile around the 2% increase, many retail investors in the market could not help but breathe a sigh of relief.

Then, the voices of 'buy, buy' began to increase.

The obviously divergent sentiments also began to tilt in the direction of bulls, the market volume could begin to explode rapidly, and the index turned from a short-term shock pattern to an upward trend.

However, just when the majority of retail investors in the market generally turned optimistic, they finally couldn't bear it and started chasing positions.

At 10:46, three consecutive large orders of [-] lots were suddenly placed on the board of Fenda Technology, which had already blocked the daily limit, causing Fenda Technology to break the market in a flash, and the stock price fell back. At the same time, other companies that were driven by the daily limit of Fenda Technology The core popular stocks related to the two main lines of 'smartphone industry chain' and 'mobile Internet' that have been raised up also ushered in a large order to follow suit in an instant, and the ChiNext index plunged rapidly.

At 10:47, under the collapse of Fenda Technology, Huashang Securities also saw a sell-off of hundreds of millions of funds, and the stock price fell rapidly from around 7%. Of course... At the same time, the Shanghai Stock Exchange Index also fell.

So far...

With the arrival of the late diving, the bullish sentiment in the market that had been warmed up was poured with cold water again.

"What the hell, it's uncomfortable if you don't hit it, right!"

Facing the market's plunge again, the gains of relevant core stocks and indexes all fell rapidly, the group of retail investors who just couldn't help chasing after them just now were extremely depressed and extremely corrupt: "Damn, this group of idiots, the main force, It’s simply poisonous, and a good anti-package trend has been smashed.”

"I don't understand. Fenda Technology has already come out, so why do you want to smash it?"

"It's not just Fenda Technology's stock! Pay attention... almost all popular stocks with good liquidity in the market have a lot of money selling at this moment."

"Could it be... is Mr. Lu Su throwing away wealth again?"

"How is it possible, Mr. Su has put out so many chips two days ago, how could he still throw them away?"

"Then why are the selling of these main funds in the market so consistent?"

"Indeed, it doesn't make sense. There is no panic in the current market, and there is no shortage of liquidity. Is there a need to get out like this?"

"Hey...Yesterday, the Zhejiang Eastern Belt collapsed the market. I didn't expect that today...it would be the Fenda Technology Belt that collapsed the market!"

"If the popularity leader is not sealed, the mood will naturally be slackened in an instant, but... the main funds that are selling today are indeed a bit strange."

"Is there any hidden bad news?"

"Can't it? The regulatory authorities only released the good news yesterday. Is this bad news again?"

"Then what are these main funds afraid of? Fenda Technology's hard limit board can be smashed, it's simply..."

"Hey, the market has been moving very strangely these past few days."

"Weak, after all, still weak, what the hell... I really shouldn't be chasing him, I think he was buried again today, hey... Wealth Lu Su is really a god!"

Amidst all the excitement, the market decline continues.

At 10:57, the stock index fell back to 0.87%, and the ChiNext Index fell back to 1.32%, and the leading core popular concept sector, the main capital flow, has changed from the previous net inflow to the net outflow.

At 11:02, the stock index fell back to 0.62%, and the growth rate of the ChiNext Index fell to 0.93%. The two major indexes have completely spit out all the gains that have been made since the opening of the market. It fell back from the daily limit to about 6%, and the stock price of Huashang Securities has risen by less than 5%. After a brief rise in popularity, Orient Securities fell into the water again, and Zhejiang Dongfang also re-sealed the limit...

At 11:10, after the Shanghai Stock Exchange Index and ChiNext Index hit a 0.5% increase, they began to receive short-term support, and the market once again fell into a sideways shock situation.

But even in a turbulent situation...

The main capital flow of the core popular concept sectors in the two cities still showed a continuous net outflow state, and large orders were sold one after another.

"Sure enough, the market was still severely suppressed by the potential bad news that 'IPO is about to restart'." Seeing that the market trend completely swallowed up the intraday gains after the opening, at this moment, inside Shenzhen Xinniu Fund Company, the trading room Fang Xinsheng, the fund manager who has been keeping an eye on the market, sighed secretly, and said helplessly, "If the bad news does not land, it is difficult for the market to have a market. What is even more speechless is that the regulators and analysts of various financial institutions are still at this time. Singing more about the market, arousing emotions, and trying to pull the market to rebound, it is simply... bad intentions!"

The market at this time is obviously not falling through.

Arousing emotions and driving up shipments in this way is completely consuming the investment confidence accumulated in the market.

If this kind of investment confidence is seriously invested and exhausted, even if the follow-up bad news falls to the ground, I am afraid that without the support of emotions and confidence, it will be difficult to start a sustained big market.

"The information scissors are poor, and there is no way." Liu Xin, the general manager beside Fang Xinsheng, who is also staring at the big screen in the trading room, said with emotion, "Retail investors can only see the news on the bright side, and they can only follow the news on the bright side. It is normal to be harvested in this way, after all... this is the ecology of the market!"

"Although this is the case, we must also pay attention to sustainability!" Fang Xinsheng replied, "Such a continuous increase in shipments can be considered exhausted."

"Who would think so much?" Liu Xin smiled, "Everyone is just staring at their own three-acre land."

Fang Xinsheng was silent for a while, smiled wryly, and replied: "Yes, the financial trading market is born to be a place where emotions are amplified and a prisoner's dilemma place. Everyone who enters the market is playing games. The fundamental purpose is just to Few people care about the profits in their hands, as for the market and the macro. "

Liu Xin nodded slightly, changed the subject, and asked: "The news of the IPO restart in the market should have spread in a comprehensive way. Looking at the situation... the market trend in the afternoon may be even worse. The position of our fund has been reduced to Is it at the lowest position? Although the market has fallen so much in the past two days, it feels like you said, if the confidence collapses, the rebound will be in the foreseeable future. We need to take all precautions to avoid The risk of opening the market down.”

"It has been reduced to the minimum position line." Fang Xinsheng said, "Even if the follow-up market falls in a bearish limit, it will not have a big impact on the net value of our fund."

"That's good!" Liu Xin nodded.

Then, after a pause, he asked again: "Old Fang, after the news of 'market IPO restart', what do you think of the market trend? Do you think the upward trend can be repaired?"

"It's difficult!" Fang Xinsheng said, "In this wave, there are too many chips at the top. If you want to release this part of the chips in the future, you need more powerful incremental funds, and incremental funds... are related to the market. Confidence has a strong relationship, the restart of the IPO, the biggest blood-sucking effect in the market will come, and it’s no wonder that investors’ confidence is good.”

"And there is not enough incremental funds to open up the situation and liberate this part of the quilt's bargaining chips upwards."

"Then I can only let this part of the bargaining chips loose by itself, and I can't help but cut the flesh."

"It's a pity that retail investors in the A-share market usually have an obvious feature, that is, winning stocks may not be able to hold them, but losing stocks have a high probability of being able to hold them."

"This has led to the market relying on self-regulation to loosen this part of the chips."

"The adjustment of time and space shocks will definitely not be small."

"Moreover, the fields where the market currently has obvious future expectations are basically concentrated in the "mobile Internet" and "smartphone industry chain" fields of the GEM. However, these two fields... have gone through repeated hype before, and all The core hot stocks, the stock prices are high."

"With the 'IPO Reboot' the market giant vampire coming back..."

"These stocks will be significantly depressed by their valuations."

"If there is no serious adjustment, or if the future expectations are not further strengthened, these stocks will have no investment and game value at the current position."

"That is to say... in the current market, there are no obvious investment opportunities."

"I'm thinking, this is also the reason why Fortune Road's funds resolutely cleared their positions after taking advantage of the news of 'market IPO restart' and eating up the market of 'securities and venture capital'."

"Although this fund is quite annoying..."

"However, its choices in terms of market investment opportunities and timing of buying and selling are really admirable, and we have to be convinced!"

"So... the old Fang is completely bearish on the market?" Liu Xin was a little surprised, "But you also said before that the market has the foundation and expectations of a bull market!"

Fang Xinsheng replied: "There is no contradiction between the two. After all, I am bearish on the market, which is a short-term strategy, while bullish on the market, is a long-term strategy. It's just that we, as a fund management company, do it for the performance of the fund's net value and for the performance of the net value of the fund. Investors who invest in us are responsible, they must choose the right time, and they must control the retracement."

If it is a personal long-term investment, he definitely does not recommend liquidating and exiting the market at this time.

After all, anyway...

After the mainline market relay in the second half of this year, the market has broken away from the previous lifeless and endless downturn trend, and has the quantitative energy and emotional foundation of a long-term bull market. Moreover, the current Shanghai Index, Shenzhen Index, and ChiNext Index have not yet reached the bottom. No matter how much it rises, the overall valuation of the market is still below 15 times. As long as the long-term expectations are further improved, we can survive the short-term market shocks and adjustments.

He believes that... the future can still be expected.

"Okay!" Liu Xin thought for a while, and couldn't tell what was wrong with Fang Xinsheng's investment strategy, so he replied, "Fund trading is your business, so I won't ask too much."

As he spoke, he turned his gaze back to the big market screen in the trading room.

At this moment, the time has reached 11:30, and the prices of the two markets are frozen. The stock index is finally fixed at a 0.43% increase, while the ChiNext Index is frozen at a 0.23% increase. All the gains in the market are extremely weak.

In addition to indexes, sectors, and individual stocks.

The core popular sector, the securities sector index closed up at 0.12%. Except for Huashang Securities, which was stimulated by the positive performance, it still maintained a rise of about 3%, and Huaxin Securities and Huatai Securities were barely in the red. Other securities stocks were all in the water. Among them, among them... Orient Securities fell 4.73% to close, killing a large number of bottom-hunting investors.

The venture capital concept sector is worse than securities. At the close of the afternoon, it has fallen from the intraday high of 1.14% to a drop of 0.89%. It fell 6%, and its stock price was already at the lower position before the launch, hitting a new low in the stage. Dongfang Ventures fell 5%, which also killed a large number of investors who bought the bottom. Today, Shibei High-tech, Zhangjiang Hi-Tech, and Luxin Venture Capital The performance is relatively strong, and it still maintains a slightly red plate.

Core concepts related to 'Mobile Internet' and 'Smartphone Industry Chain'.

The 'wearable devices' and 'Apple concept' sectors, which led the gains in the two cities before, have retreated most of their gains at the moment, and are fixed at 0.56% and 0.44% gains. Its core concept stocks, Fenda Technology rose 5.33%, An Festival Technology rose 2.31%, Xinwei Communication rose 1.87%, Goertek rose 0.98%, Crystal Optoelectronics rose 0.76%...

Previously followed closely by the "wearable device" and "Apple concept" related core concepts of the "mobile Internet" section.

The "Mobile Game" concept sector was fixed at a 0.21% increase, and the related concept sectors such as "Internet Finance", "Network Security", and "Mobile Payment" were only slightly red, maintaining a situation similar to that at the opening. The core stocks in the stock market, such as Huaqingbao, Changqu Technology, Huake Jincai, Yinzhijie, Jinzheng, Changliang Technology, Hengsheng Electronics, and Oriental Fortune, have all fallen sharply after rising. Moreover, the performance of the main funds on the disk all showed a state of net outflow.

Facing such a closing situation at noon...

The majority of market investor groups, apart from abuse, depression, and resentment, are already familiar with it.

After all, it has been three consecutive days of diving and falling, and under the intertwining of various emotions, everyone also has full expectations for the miserable market trend in the afternoon, and they are clamoring to lighten and clear positions.

Of course, at the same time, related news about the 'market IPO restart'.

It also flowed into the ears of more investors from various so-called internal channels, casting a shadow on the already miserable market.

And just when this kind of emotion is intertwined and the potential bearishness is becoming more and more prominent.

At 1:[-] p.m., as soon as the market opened, it was sold by countless unknown main funds. Many popular stocks with abundant liquidity, as well as the index, fell directly into the water without any resistance.

After that, the market went down unilaterally without any surprise!
In the end, when the market closed at 3 o'clock, the Shanghai Stock Exchange Index fell by 1.36%, falling below 2300 points, and the four-day amplitude reached above the terrifying 200 point range; The extent of the decline and the intraday amplitude are even more exaggerated than the Shanghai Index.

Of course, in addition to related popular concept sectors other than the index, as well as core popular stocks.

The degree of its killing and falling is even more terrifying.

"What the hell, there's no end to it. This continuous day-to-day slump can be called a small stock market disaster." Facing such a tragic closing situation, inside Yanjing, Shenhua Fund, and in the trading room, the fund managers are often favorable There was a lot of cursing, "It all fell back to the original point when it started, and it still fell!"

The main stock holdings of the fund he is in charge of have no red market at all today.

Even if there is a stock with a red market, its red market time is extremely short.

In addition, after today's market dive, the follow-up market trend is completely unilateral downward trend, and the market liquidity of the two markets is even worse than yesterday.

Let him not sell many chips at all.

Of course, what was even more exasperating was that he found out that Orient Securities, a stock that his fund held heavily, still had endless super large orders today, robbing him of market liquidity.

At the same time, in Shanghai, inside the Yinghui Fund.

Fund manager Liu Guanhai saw this unforeseen market trend, and was also furious, depressed and irritable.

Due to his greed, the main funds he controlled started to lighten up their positions on a large scale when they plunged in the session yesterday after putting all their positions in the 'securities' sector.

Naturally, after such a short time.

In a market that was completely collapsing and lacked liquidity, he smashed again and again, trying his best to kill the decline. Until now, he has not sold out all his chips. Moreover, due to the rapid decline in the market, the lower limit and continuous sharp drop of the relevant heavily held stocks, all he has All the securities and stocks in the heavy positions have all fallen below the cost line and have become in a state of loss.

This also means...

In this round of the market, not only did he not eat the meat, but he was also beaten.

Of course, what is even more frustrating is that he has no net positions, and in the future... most likely he will suffer losses and affect the fund's net worth performance.

"Hateful, hateful, really hateful!"

Liu Guanhai was extremely irritable in his heart. Faced with this investment strategy that completely failed and was harvested miserably, he really regretted it.

However, he also knew that the matter had come to this point, and even if the result was unacceptable to him, he had to accept it, so... He gritted his teeth, and it was considered as a strong control of his inner violent emotions.

Unfortunately, when the new dragon and tiger list was refreshed at 5:7 p.m., Orient Securities was listed on the condition that the intraday price increase deviation value reached -[-]%, and when the trading seat data was disclosed, the irritability he suppressed could no longer be suppressed. He stopped, smashed the teacup in his hand with his eyes tearing open, and roared: "What the hell... how can the road to wealth still exist?"

same……

In Yanjing, inside Shenhua Fund, in the trading room.

Chang Li stared at the refreshed list of dragons and tigers, seeing that the seat of "Hua Shang Securities Yuhang Fortune Road Sales Department" was still ranked third in Dongfang Securities, with a sales amount of more than 6800 million. For a while, his eyes were tearing apart. I was stunned in place, and after a long time, I took a deep breath and cursed: "Fuck, you sell every day, sell every day... How many chips are you lurking in this stock! "

If you miss the opportunity with one move, you will fall behind step by step.

Facing the continuous pressure and smashing of the fortune road, and he has no idea how many chips the opponent has, he is really almost desperate in his heart.

What made his mentality collapse even more was that Fortune Road was on the list today, not just Orient Securities.

In the conceptual field of 'securities and venture capital', several popular core stocks that have crashed and plummeted have their fortunes in their selling positions.

Although overall...

Compared with yesterday, the sales volume of Fortune Road has dropped by more than one level, and no funds worth hundreds of millions have been released.

However, the emotional impact of the opponent's continuous smashing on the market, and the follow-up and smashing funds driven by it are simply incalculable.

Of course, at the same time.

Numerous main institutions, hot money, and retail investor groups who pay attention to the data of the Dragon and Tiger List are extremely shocked when they suddenly find out that Fortune Road is still selling positions on a large scale.

(End of this chapter)