The investment era of rebirth

At this time, at 2:05, the daily trading volume of 'Huaxin Securities' has exploded to about 230 billion, completely becoming the core position of the fierce battle between the long and short parties in the market.

The rise and fall of the "Huaxin Securities" check also affects the direction of the entire market from the side.

At 2:06, in the 'Internet Finance' sector, the stock prices of the three Musketeers, 'Great Wisdom, Flush, and Oriental Fortune', have all fallen back below the 4% increase, and the intraday growth rate of the entire 'Internet Finance' sector index has also fallen. Within 1%.

At 2:07, the transaction volume in the securities sector reached about 1700 billion.

At 2:08, the intraday gains of several relatively strong leading stocks in the securities sector such as Huaxin Securities, Xiangcai Securities, Western Securities, and Pacific Securities all fell back below 5%. Among them, Western Securities Seven or eight points after the huge earthquake, it fell back below the 3% increase.

At 2:09, the two most heavily weighted stocks, China South Locomotive & Rolling Stock Corporation Limited and China North Locomotive & Rolling Stock Locomotive & Rolling Stock Corporation, saw their intraday gains completely return to zero and gradually fell underwater.

At 2:10, "Huaguo Construction, Huaguo MCC, Huagong International, Huaguo China Railway, Huaguo Railway Construction, Huaguo Communications Construction..." and other "Huaguo" infrastructure stocks continued to fall during the day. The disk volume can also continue to expand.

At 2:11, 'Blue Stone Heavy Equipment' and 'Huake Dawn', two demon stocks in the sub-new sector, have sealed their daily limits, and the intraday amplitudes are both greater than 12%.

At 2:12, the check of 'Yingkou Port', which once rebounded and became popular, went underwater again.

At 2:13, with 'Blue Stone Heavy Equipment' completely closing the limit, the 'National Defense and Military Industry' industry sector index plunged again. At the same time, among its sectors, 'China Airlines Heavy Machinery, Hongdu Aviation, and Aerospace Development...' and other relatively popular military concept stocks have fallen sharply.

At 2:14, a number of heavyweight core stocks in the military industry sector such as China Airlines Shenyang, China West Aircraft, Aviation Power, Northern Navigation, Huaguo Heavy Industry, Huaguo Shipbuilding... all had rapid volume growth on the market. The huge amount of active selling suppressed the buying, and the price continued to fall.

At 2:15, in the film and television media sector, core popular stocks such as 'LeTV, Enlight Media, Huayi Brothers, Huace Film and Television...' also began to experience rapid declines. On the market of major stocks, Extremely large and relatively concentrated selling forces emerged one after another.

At 2:16, 'Huaguo MCC' fell by 2% during the day, and the same trading volume and turnover also hit a record high.

At 2:17, on the market of 'Huaguo International', a series of large selling orders with thousands of lots appeared one after another.

At 2:18, the three checks of 'Huaguo Railway Construction, Huaguo Communications Construction, and Huaguo China Railway' simultaneously fell to near the flat position, and their volume and energy also simultaneously increased to a record high position.

At 2:19, the Shanghai Stock Index's intraday gain shrank to less than 0.6%, setting a new intraday low.

At 2:20, the transaction volume of the two cities has reached more than 9800 billion, setting a new record high in the same time period.

At 2:21, the intraday trading volume of 'Huaxin Securities' reached 263 billion, and it is still expanding rapidly.

At 2:22, the securities sector index's intraday increase has dropped from a maximum of more than 6% to a current increase of only 2%.

At 2:23, 'Flush' fell 3% during the day.

At 2:24, the main line sector indexes of several core concepts such as 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', 'Shanghai Free Trade Zone', and 'Reform and Reorganization of Central and State-owned Enterprises' were all hit hard. After falling, they have come out of a rapid downward trend, and the concept of 'Shanghai Free Trade Zone' has turned from red to green.

At 2:25, the number of stocks that naturally changed hands at the daily limit in the two cities fell from the peak of nearly 80 stocks to only 19 stocks now, which still maintain the daily limit status. The number of stocks that exploded exceeded 60.

At 2:26, ​​as the trading time went by, the intraday increase of 'Huaxin Securities' shrank to within 1.5%.

At 2:27, the two major weighted sectors, banking and insurance, saw their intraday gains shrink to less than 0.5%, and the banking sector’s intraday turnover reached close to 800 billion, which was also a trend of substantial increase in volume.

At 2:28, the A50 index fell back to less than 0.5% during the day.

At 2:29, the total number of stocks in the two cities reached their daily limit, including newly listed stocks and stocks that were favorable for resumption of trading, and the total number did not exceed 50.

At 2:30, the total net outflow of main funds from the two cities reached a scale of 50 billion.

At 2:31, 'Flush' fell by 5% during the day.

At 2:32, the intraday gains of the two stocks 'Oriental Fortune and Great Wisdom' all returned to zero, and the stock prices gradually turned from red to green.

At 2:33, the net outflow of main funds from the single securities sector reached 35 billion.

At 2:34, the major industry sectors of 'big consumption', 'non-ferrous cycle', and 'petrochemical industry' rose rapidly, especially the food and beverage, retail, and small metal industry sectors, which gradually climbed to the top of the growth lists of the two cities.

At 2:35, the intraday trading volume of 'Huaxin Securities' broke through the scale of 280 billion, setting a new record high in the daily trading volume of a single stock.

At 2:36, in the main line of 'big finance' alone, the net outflow of main funds reached a scale of 50 billion.

At 2:37, the 'National Defense Industry' industry sector index fell 1.5% during the day, and all core stocks in the sector suffered heavy losses.

At 2:38, the transaction volume of the two cities reached 10100 trillion.

At 2:39, 'Western Securities', a high-priced leading stock in the securities sector, saw its intraday gains return to zero, and its selling on the market continued to increase.

At 2:40, the daily trading volume of the securities sector reached more than 1800 billion.

At 2:41, 'Yingkou Port', a recent leading stock in the main areas of core concepts and themes such as 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road' and 'Northeast Revitalization', suddenly went out of the sky. The trend has an intraday amplitude of more than 20%. "Hey, the market situation this time should be completely irreversible, right?"

At around 2:43, at this moment, in the Magic City, inside Yinghui Fund Company, in the 'Yinghui No. 1' fund product trading room, the fund trading team leader Yu Lei stared at the two markets, sighed helplessly, and said: "Good news Damn it, I really didn’t expect...the market would be like this today."

At this moment, the Shanghai Stock Exchange Index and the A50 Index have almost swallowed up all the gains in the day.

The Shenzhen Stock Exchange Index and the ChiNext Index have fallen underwater. They opened sharply higher in early trading and are now in a downward trend.

Hearing Yu Lei's sigh, the fund manager Liu Guanhai on the side also said helplessly: "Although I thought that today's market trend would be very different, I didn't expect... that it would be so big. The securities sector with a turnover of 1800 billion, The banking sector has a turnover of close to 1000 billion, and there are also the construction decoration and building materials sectors with tens of billions. Today, the chip structure of the two core main areas of 'big finance' and 'big infrastructure' is completely loosened."

"Not only are the two core main areas of 'big finance' and 'big infrastructure'." Yu Lei said, "The stakes in the main area of ​​the 'national defense and military industry' industry sector are even more loose, and there is also the 'film and television media' sector. The chips are also showing obvious signs of loosening.”

"It seems that it is not just short-term and medium-term profit taking and arbitrage that are closing positions and taking profits." Liu Guanhai pondered for a moment and said, "Many funds that may not make much money are also quickly escaping from 'big finance' and 'big finance'." Infrastructure' and 'military industry' are popular main sectors."

Yu Lei nodded and said: "Based on the trend analysis of the two cities, market adjustment should be inevitable. We... should take advantage of the high liquidity of the market at this moment and take the initiative to reduce our positions!"

Now that there have been obvious big divergences in the market, many stocks have also shown signs of short-term peaking.

Then, Yu Lei felt that it was time to follow the market trend and further adjust the trading strategy.

Liu Guanhai continued to observe the market trend for a minute or two, and said: "Reduce it. Too many funds fled from the two cities at high levels today. The magnitude of subsequent market adjustments should not be small."

Yu Lei nodded, and while issuing trading instructions to the trading team behind him to quickly reduce their positions, he said: "I also estimate that the next market adjustment will not be small. After all, judging from today's market performance, many Yuhang systems "The main line weighted stocks with heavy positions have experienced extremely serious long-short differences today. I seriously doubt... In today's market trend, the core main funds of the 'Yu Hang Group' are obviously reducing their positions significantly."

After hearing Yu Lei's words, Liu Guanhai turned his attention to the "Yu Hang System Position Concept" sector of the two cities. He saw that the performance of this sector index was indeed very bad today. Basically, all the corresponding stocks opened sharply higher in the early trading and became... After a flat market shock, or a slight decline, basically the market amplitude of each stock is less than 5%.

"It is indeed possible that the main funds of the 'Yu Hang Group' will reduce their positions on a large scale today." Liu Guanhai said, "However, it is understandable that this capital will reduce its positions and stop profits on a large scale at this position and at this time. After all, this The main capital has already made a lot of money, and with this main capital, at the end of the year, there is a strong demand for profit taking and net worth settlement."

"In this case, we cannot hesitate any more." Yu Lei said, "Once the main funds of the 'Yu Hang Group' reduce their positions on a large scale and their trading seats appear on the dragon and tiger lists of the two cities, it will have a negative impact on the entire market. The impact on market trends and the sentiment of all investors will be quite serious."

With that said, Yu Lei did not wait for Liu Guanhai to continue giving instructions.

He continued to turn around and emphasized to the members of the trading team behind him: "While the market has not yet closed, we will reduce positions and take profits on a large scale. As long as the stocks we hold still have sufficient liquidity, we can sell as many as we have." "

Their fund products are generally not large in size.

In addition, they have gradually reduced some positions before.

With the current liquidity of the two markets, even if there are about 15 minutes left in the market trading time, it is basically possible to quickly reduce the position to to % of the position.

The traders in the trading group responded quickly.

Then, the crackling sound of the keyboard began to sound rapidly in the trading room, and as the sound of the keyboard sounded, tens of millions or hundreds of millions of selling orders continued to pour into the two markets.

And almost at the same time.

It's in the fund product trading room of 'Yinghui No. 2' right next door.

Fund manager Shao Xiaoyun saw the two markets accelerating their decline in late trading. Although he was aware of something bad, he did not immediately think of quickly reducing positions and taking profits to reduce fund positions.

"Mr. Shao, there are already some problems with the market trend..." At around 2:47, seeing the two markets falling rapidly at the end of the trading session, and at the same time the volume and energy were expanding rapidly, Liu Changling, the head of the fund trading team, frowned. He instantly frowned and said hurriedly, "We must reduce our positions, as much as we can. Under this trend, tomorrow's market trend will inevitably undergo a major adjustment, and the possibility of a sharp drop cannot be ruled out."

Shao Xiaoyun said: "I also know that there are already some problems with the current market trend, but at this time, the main sellers are selling, and there is basically no good price. Furthermore...haven't we discussed it before? Even though there may be violent fluctuations in the market Short-term adjustment, but in the medium and long term, the bull market logic of the market has not been broken. In this case...if the appropriate selling point has been missed, then we can only continue to hold on and wait for the short-term adjustment of the market to end."

"No, this time is different." Liu Changling carefully waited for the changes in the two markets. Realizing that the next market adjustment was likely to be more intense than he had expected, he couldn't help but said, "If nothing happens, If it is unexpected, the funds of the 'Yu Hang Group' today should have taken profits and exited on a large scale. Once these funds have fully taken profits and exited, the subsequent market adjustment will not be gentle."

Shao Xiaoyun was slightly surprised and said: "Do you think the funds of the 'Yu Hang Group' have completely stopped making profits and exited?"

Liu Changling nodded and said: "You can't be wrong, otherwise the market would not have such a large amount of energy today. It is almost 11000 trillion. The turnover is 1000 billion faster than yesterday. This level of explosion Quantity, especially the main funding differences, happen to occur in the main areas of 'big finance', 'big infrastructure', and 'military industry' where the 'Yu Hang Group' is heavily funded. Isn't it worth being vigilant?"

"If the funds of the 'Yu Hang Group' start to completely cut profits and withdraw... it will be bad." After hearing Liu Changling's explanation, Shao Xiaoyun instantly started to panic and said hurriedly, "Quick, quick... while we can The market has not closed yet, so we will do our best to reduce positions and take profits, and we will sell as much as we can."

Seeing that Shao Xiaoyun finally figured it out, Liu Changling couldn't help but breathed a sigh of relief. Without waiting for Shao Xiaoyun to issue other instructions, he quickly ordered the trading team behind him to cut off positions and stop profits at all costs, even taking advantage of many popular stocks and still having enough money. For liquidity, the price limit is directly placed on selling.

As more and more asset management institutions in the industry begin to realize the differences and risks in the market.

As more and more funds are held on the market, liquidation sales begin.

In the last ten minutes of trading between the two cities, the market began to experience a unilateral and rapid downward trend, which was fully suppressed by short sellers. As a result, the market closed at 3 o'clock in the afternoon.

The Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index, ChiNext Index, Small and Medium Enterprises Index, and A50 Index all closed down. (End of chapter)