The Road to Rebirth Finance

Chapter 328 The retail investors who were beaten repeatedly in the stock market crash
It has been less than two and a half months since the Shanghai Composite Index set a new high of 6 points on June 12. Within two and a half months, the index has fallen by more than 5178 points, a drop of more than 2000%.

For most investors, 3000 points is an important psychological threshold. Investors above 3000 points will have the idea of ​​turning back, and once the market effectively falls below 3000 points, investors will return to the market. Bear market thinking.

In fact, in Gu Junhao's view, it is not a real bear market at present. A real bear market should be one that makes people have no desire to trade, most stocks have no improvement, and they are either falling or falling every day.

Individual stocks frequently hit new lows and trading volume gradually decreases. That is the real bear market. In today's stock market crash, although thousands of shares have fallen by the limit at every turn, there are not a few rebounds, and the trading volume has not dropped to a particularly outrageous level. The market still has certain chance.

However, it is difficult to grasp this kind of opportunity. It is definitely the easiest to make money in a smooth market. In the volatile market, it is naturally more difficult to make money.

It is precisely because of this that hard work is always one of the most useless options in the stock market. Learning short positions and position management, and controlling retracement are the most important factors for surviving in the stock market.

On Wednesday, August 8, rice stocks rose sharply overnight. The three major stock indexes all recorded the largest single-day gains of the year. The Dow rose by 26%, the S&P rose by 3.95%, and the Nasdaq rose by 3.9%. a trend.

In the self-operated market of Junshi Capital, Nvidia’s position has already been established under Xu Jianqing’s tireless efforts. The shareholding has reached more than 100 million shares, and the cost has been controlled at $19.

As the three major indexes of the rice stock market came out of the gloom, Nvidia also achieved a big rise. The stock price was reported at 21.81 yuan, up 7.54% within a day. Compared with the trend of A shares, Nvidia is much more beautiful.

Based on the closing price, Nvidia's current market value in the self-operated market is as high as 2181 million US dollars, and its profit has reached 218 million US dollars. It is one of the few profitable stocks this week.

After Xu Jianqing finished building his position, Gu Junhao originally wanted to reassign him to trading A-shares during the day, and temporarily put rice stocks aside until he recruited new rice-stock traders before handing them over again.

However, after working in rice stocks for a period of time, the T+0 trading system and the large amount of funds in his hands can be manipulated, and he has no scruples in foreign stock markets, which made Xu Jianqing very interested in trading Nvidia .

Gu Junhao had no choice but to let Xu Jianqing, who strongly demanded that Nvidia be handed over to him for trading, to deal with him temporarily, as long as he didn't lose money, and he had no leverage anyway.

In comparison, it is more enjoyable to cut leeks with foreigners. If it is not for the need to rescue the market and the restrictions on investment varieties, Gu Junhao really wants to invest more money in rice stocks.

At the same time, affected by the central bank’s interest rate cut and RRR cut yesterday, the Shanghai stock index opened slightly higher at 2980.79 points, which seems to be stabilizing, while the GEM index continued to gap down and open lower, at 1975.92 points.

"Today we should find out. Small and medium-sized enterprises are the emotional vane of the market. If the ChiNext does not stabilize, the probability of a rebound within the day is not high."

After the call auction ended, Gu Junhao said to everyone that although the valuations of small and medium-sized entrepreneurial stocks are still very early, the room for maneuvering is still higher than that of blue chips.

What's more, the active funds in the current market, including ordinary retail investors and hot money, also prefer small and medium-sized entrepreneurial stocks.

As for the blue chips, when the national team has a lot of chips, after the stock market crash is over, its liquidity will also be affected to a certain extent, and most of the blue chips such as securities companies, insurance companies, banks, and Chinese prefixes. Valuations are also at high levels.

These blue chip stocks have been hyped more than four or five times during this round of bull market. Generally, for stocks with more than five times the hype, it is of little significance to participate in the real decline process.

Without several years of immersion, when the stock price returns to normal valuation, it can only be limited to a small rebound.

Tellus shares once again opened with a one-word limit today, and today's stock price has fallen to 30.11 yuan, which has fallen by 51.99% compared to the high of [-] yuan.

And judging from this continuous one-word limit-down without heavy volume, it is no problem to cut the stock price in half. If you want to buy the bottom again, it is estimated that you will have to wait until next month.

Since Tong Huashun was registered and adjusted, it has gone out of the trend of four consecutive limit-downs. Today, Tong Huashun also gapped and opened at 46.60 yuan, which is nearly 142.50 yuan lower than the highest price of 100 yuan after ex-rights.

When a high valuation meets a bad position, the power of this kind of decline is still very scary. Although Gu Junhao knows that Tong Huashun will not be punished for delisting in the end, it seems that Tong Huashun's trend is still very dangerous.

Facing the risk of delisting, many stockholders have already cut their flesh and fled during this round of decline. In the previous four consecutive trading days, retail investors had no chance to escape.

Today, Tong Huashun did not directly report a one-word limit down like in the previous trading days, which also caused a large number of retail investors to be limited by the bad news, and fled with pending orders. Li Ze was one of them.

Li Ze was not stupid. The market continued to fall. After the rebound of Tong Huashun was not as expected, he also promptly reduced his position. The price of the reduction was around 76 yuan.

At present, the cost of Li Ze’s 4000 shares of Tonghuashun is 51.20 yuan. After the thunderstorm, he has already lost money after four consecutive limit-downs; if Tonghuashun had opened the limit-down limit a year ago, Li Ze might have thought of covering up his position.

But now, Li Ze will no longer take such risky behaviors, and the current Tong Huashun is no longer the Tong Huashun who was three months ago.

After the call auction ended, Li Ze directly set the lower limit price to rush away Tong Huashun. After the official trading started, Tong Huashun's stock price quickly fell from 46.60 yuan to 46 yuan due to the rush of retail investors.

李泽手里的4000股于46.60元开盘价位成交，自7月9日抄底以来，李泽最高盈利将近20万元，而如今却要以亏损1.84万元出局。

Times have changed, and the two rounds of stock market crashes have also made Li Ze realize that the previous style of long-term holdings is no longer suitable for the current stock market. Didn’t you see that Brother T also suffered serious losses last week.

"MD, this market is really impossible to deal with. The previous trading model is no good. If you want to do it, you just make money and run." Finally sold, Li Ze heaved a sigh of relief.

Fortunately, I reduced a part of the position before, otherwise, if I kept holding the shares, I would lose 13.6 yuan today.

"Li Ze, are you really cut? There should be a rebound today, right? The main force inside is also going to run."

"Are you waiting to die if you don't cut it? I don't care if the main players run or not. Anyway, I have lost less than 2 now, and the ChiNext has broken 2000 points. Where can I rebound?"

"That's right, you didn't lose much. I'm reluctant to cut the cost of 75 buddies. Let's wait and see if there is a rebound today."

"Then you wait, but I guess it's a bit difficult. They've all been filed, and even if there's a backlash, it shouldn't be too big."

During the chat, Tong Huashun also fell below 46 yuan and reported at 45.89 yuan; at 9:34, the GEM index fell rapidly, and Tong Huashun's trading market also changed suddenly.

"Fuck, it's diving again, and the Shanghai Stock Exchange is also jumping, and Tong Huashun has fallen to 44.5 yuan." In 1 minute, Tong Huashun's stock price dropped by nearly three points, and another flash crash was staged just like the index.

At 9:37, Tong Huashun hit the lower limit price of 42.03 yuan. Seeing that the board had not been closed yet, and the brother who had just said that he did not plan to cut his flesh, was flustered at the moment.

I regretted that I didn’t listen to Li Kuang’s words to cut the meat earlier, at least 9 points of loss could be saved at that time, and I was afraid that if the limit was closed again like the previous few trading days, I really wanted to cut it. They can't be cut off.

So, in a panic, I couldn't help but liquidate my holdings with one click at the price of 42.03 yuan. The profit and loss per share was as high as 33 yuan. Although it was painful, it was a relief to finally sell it.

However, as the shares he held in his hand were sold, the price limit was not sealed as smoothly as yesterday, Tong Huashun's stock price rebounded quickly, and the stock price returned to 1 yuan a minute later.

"I'm going, maybe it's the lowest point? It looks like it's going to rebound today?" Just now he sold out of fear, but now he saw that the stock price didn't fall by the limit, and he regretted it a little.

Before hesitating, Tonghuashun’s stock price rebounded quickly with the rebound of the stock index after a short pause. The stock price quickly rose to 44.10 yuan, down 5.57% within the day, and the stock price rebounded more than 4% from the lower limit price.

"TMD, it's really sold out. It looks like it has bottomed out today, and the main force is rebounding and retreating." Now the more I think about it, the more I regret it. What did you do just now? It's only 2 minutes away.

At 9:43, Tong Huashun’s stock price was reported at 43.50 yuan, just as it had just rebounded to 42.50 yuan from the limit-down limit, and there was a slight pause, and the stock price showed the same sideways trend.

"It doesn't matter, when I bought it back, it's only a shortfall of more than 1 yuan. If I want to lose, I won't be short of this 1 yuan. If I rebound, I will make a profit." He was somewhat unwilling, so he bought Tong Huashun again at the price of 43.50 yuan.

However, the original position of 3000 shares is now only enough to buy back 2800 shares, and the cost has changed from 75 yuan to 81.93 yuan. However, as long as there is a round of rebound, he doesn't care anymore, he just wants to minimize the loss.

As for the stock price bouncing back above the cost line, he no longer has such an extravagant hope. The trend in the next few minutes, as he expected, Tong Huashun rebounded again after a pause. The stock price rose to 46.28 yuan, and the decline narrowed to 0.9%.

However, after ten o'clock, Tong Huashun's behavior made him suffer a lot.

As the intraday volatility of the index intensified, Tonghuashun's stock price fluctuated sharply, and it rebounded to above the price of 46 yuan and started to fall again. At 10:42, the stock price once again hit the lower limit price. This time, Tonghuashun was sealed on the board for 3 minutes.

Fortunately, within these 3 minutes, the fleeing funds were not too much, only about 3000 million yuan, and Tong Huashun’s stock price also opened up again, and then the stock price started a slow recovery process. By the end of the afternoon, Tong Huashun reported 44.65 yuan, and the stock price fell 4.39%.

The closing price at noon was more than one yuan higher than the price of my second bottom-buying, and it was barely able to save the loss of the morning limit cut, but I was relieved to have lunch with peace of mind.

In the afternoon, Tong Huashun's trend made him happy again for 20 minutes. At 13:19, Tong Huashun reported the highest intraday price of 48 yuan, and the stock price rose by nearly 3%.

At this time, the three major indexes have also turned red. After the Shanghai Composite Index hit the lowest point of 2850.71 points in the day, it rose explosively with the re-entry of the national team. At this time, the stock price rose to above 3000 points, rising More than 4%, the intraday amplitude exceeds 8%.

At this time, in my mind, the trend of the floor and the sky is already in fantasy.

However, after all, there are not many good things that can be the turn of leeks. At 01:30 in the afternoon, the strength of the short side struck again, the Shanghai and Shenzhen stock markets began to dive, and Tong Huashun's stock price also began to slowly decline again.

Since there was no daily limit of 2927.29 shares, the rescue market has failed once, and the effect is not as good as it was before. The index gradually went down. At the end of the whole day's trading, the Shanghai stock index closed at 1.27 points, down [-]%.

The GEM index fell again by 5.06%, and the index fell below 1900 points to 1890.04 points. Not surprisingly, Tong Huashun once again closed the limit in the afternoon, and the stock price returned to 42.03 yuan, which he cut off.

"RTMD, your hands are really cheap. Why buy them back after selling them all? Thanks to more than 4000 yuan!" Cut the meat at the limit price.

The next day, Tong Huashun opened at 43 yuan. At 11 o'clock in the morning, the stock price trend was intact. The stock price once rushed to 44 yuan, an increase of 4.69%. However, after 11 o'clock, under the fluctuation of the index, Tong Huashun dived again.

Just like yesterday, the stock price fluctuated after the dive, and fell to the limit price again in the afternoon. The man who couldn't bear this process had a complete mental breakdown and chose to cut the meat at the price of 40 yuan.

During the subsequent rebound, Tong Huashun’s stock price finally closed at 43.15 yuan, up 2.66% within the day. At this time, he no longer dared to buy it back. Compared with yesterday’s purchase, he lost nearly 1 yuan more.

"Junk stocks, shit, don't buy them again, hurry up and delist them."

As for the transaction on the 26th, in Gu Junhao’s view, it was already the bottom of the market this year. The Shanghai Composite Index hit the lowest point of 2850 points and rebounded.

After yesterday, Maotai Liquor rebounded on the second trading day, and the stock price closed at 183.88 yuan, successfully standing on the [-]-day line. In the past three trading days, the trading volume of Maotai has increased a lot, and there is a trend of increasing volume at the bottom.

The share price of Vanke A is reported at 13.25 yuan today, which is 1.92% higher than yesterday. The two sides are still fighting repeatedly at the price of 13 yuan. One side seeks to suppress the stock price, while the other side hopes to collect more bargaining chips at this price.

The entry of insurance funds and the famous Baowan dispute have gradually emerged during the bottoming process of the Shanghai and Shenzhen stock markets in August 2015. Although entering a technical bear market, the market after A shares is still very exciting .

　make up yesterday's chapter

　　
　
(End of this chapter)