The Road to Rebirth Finance

Chapter 443 The Beginning of Chaos

"What do you mean, it fell so badly, this kid didn't even buy it back? Why is the position still so low?"

"It is said that their company had an early holiday a few years ago, and the company's self-operated trading team took a long vacation in advance. Are you not optimistic about the market?"

"Short positions should not be too high, but the positions are definitely not high. It seems that Mr. Gu is still bearish."

"Should be waiting for the blue-chip stocks to pull back. With such a large volume, we can only continue to hold blue-chip stocks. A round of adjustment of blue-chip stocks will take a few months, which is normal."

"It's really not a good opportunity to enter the market if the main board's falling market does not change, especially now that the international environment is complicated, and the other side makes some weird remarks from time to time."

"Hey, it's not easy this year, Mr. Gu is smart enough to run away early."

Contrary to the imagination of the outside world, Junshi No. 10 has not built any positions. If the 10 billion market value positions it keeps, if it does not increase its positions, it will drop by at least 1% this month, and it will lose about [-] million yuan.

It was also after the establishment of some new positions in technology stocks after the year that the net value of the fund was pulled back to a positive number, but the overall position was indeed not high as the outside world guessed.

This year is the first economic collision between the two superpowers, and it is also a year when the economic situation begins to change, just like the Shanghai Composite Index this month and last month.

This can also be seen from the performance of the broader market before and after, the rebound height of the Shanghai Composite Index and the trading volume, and large funds are still quite cautious.

In the first half of March, the rebound height of the Shanghai Composite Index still failed to break through the previous high in February. Numerous small and medium-sized start-up stocks were cut in half in the early stage, ushering in a restorative rise.

It has always been the tradition of Big A to invest in small and medium-sized ventures with small trading volume, and to lie in popular large-cap stocks with large trading volume, and 2018 is no exception.

How crazy is the small and medium-sized innovation this month?Even Leshi.com, which is on the verge of delisting, has experienced a wave of hype this month, and its stock price has risen by the daily limit from time to time, attracting retail investors to take over.

As of Monday, March 3, during the eight-day trading period, the ChiNext Index has risen from 12 points at the beginning of the month to 1753.63 points today.

In eight trading days, the rebound exceeded 7%, and the trading volume also rose from the lowest single-day 350 billion before the festival to 1222 billion today.

This is the second consecutive day that the ChiNext Index’s trading volume has exceeded 1000 billion yuan, and technology stocks have risen tremendously during this period.

以2016年8月份上市的赵易创新为例，经历了10送10的高送转比例之后，今日涨停的它股价收报192.81元。

Such a price has risen by more than 50% compared to the highest position before ex-rights. It is really delicious for technology stocks to meet the main Shenglang market.

Even if Junshi invests 70% of its positions, only about 30% are technology stocks, and its net worth has risen rapidly in the recent period, and it has completely disappeared from the previous single-day fluctuation of more than 2%.

The ups and downs of technology stocks will largely affect the volatility of a fund, which is why Brother Cai, who has a full position in technology stocks, is loved and hated by people.

A fund with daily fluctuations greater than that of stocks is indeed exciting; however, this year's Nuoan is not managed by Brother Cai, and he has not taken office yet.

The recent performance of Junshitou has made the original holders feel very uncomfortable, but this change can also make the outside world feel very clearly that Junshitou has completed the position conversion.

Although they are still in the application quota, investors are still relieved to see that Manager Gu can stabilize the fund's trend and maintain an upward trend.

In the comment area of ​​Junshitou, there are many investors who have returned to ridicule the style of the fund, as if a different person is operating.

There are endless comments such as which positions the manager Jiangxiang has changed, and why there are such large fluctuations.

Of course, there are also posts calling on Junshishitou to reopen subscriptions.

Ordinary investors are like this, both pitiful and lovely. The pain of the sharp drop years ago has been covered by the rapid rebound after the next year.

On March 3, Ningwang updated its prospectus, announcing last year's net profit. In 13, Ningwang's net profit was close to 2017 billion yuan. Many listed companies hold Ningwang's shares.

Ning Wang has not yet been listed, but A-shares already have his legend, and Ning Wang's concept stocks have a place in Tonghuashun, becoming an independent concept sector.

After the opening of the market, Ningwang concept stocks were very active. The leading second board, the second dragon closed the board in a straight line, and the rest of the concept stocks also rose sharply following the concept board.

"If you are doing T in the past few days, you can make bigger moves, and you can appropriately reduce your positions in technology stocks that have risen a lot."

Before the opening of the market, Gu Junhao set the trading principles for the trading team for today. The GEM index turnover exceeded 1200 billion for two consecutive trading days, and it exceeded [-] billion yesterday.

The last time the transaction volume of the GEM index exceeded 1200 billion yuan, it was at the beginning of September last year when the wgbj industry board index rebounded and peaked.

From the perspective of style rotation and trading volume, this round of general rise in small tickets is coming to an end, and the volume can no longer be sustained.

Today's GEM index opened lower and lowered, and high-end stocks began to pull back is a very obvious signal.

In addition, the performance of the Shanghai Composite Index today is also relatively weak. After rebounding to around 3330 points, the Shanghai Composite Index has been somewhat weak in succession.

The Shanghai Stock Exchange 50 Index and the Shanghai-Shenzhen 300 Index have begun to fall again today, and the smell of big money has come again.

In a market without trading volume, it is always so difficult to maintain a general rise in the market.

In addition, the price has risen for almost half a month in March, and it is more reasonable to enter the market of shock adjustment in the second half of the month.

And the following April is the season of annual reports and first-quarter reports. The A-share market that is full of mines can almost imagine the market price in April after the sharp rise in March.

What's more, although there is no news recently, but throughout the whole year, there is always a big thunder, and some news will pop up from time to time.

Today's market has not adapted to this rhythm, and when it starts, it will cause even greater panic, which is also a very big thunder.

On March 3, both the Shanghai and Shenzhen stock markets closed down, and the two markets ushered in the turning point of rebounding to a high level after the festival. In the next few trading days, the trend of the Shanghai and Shenzhen stock markets was very weak.

Recently, Gu Junhao has also been paying attention to the news from the other side of the Pacific Ocean.

Due to business needs, Junshi Capital, including some of Gu Junhao's staff, can log on to the external network openly without going over the wall.

In terms of news sources, he is naturally much more informed than ordinary investors, and that person likes to work on Twitter, and likes to tweet about everything.

The recently rumored increase in tariffs on commercial ports was confirmed on the evening of March 3, and the shadow of the sharp drop at the beginning of the year once again shrouded investors.

On March 3, affected by this news, the Shanghai and Shenzhen stock markets gapped down sharply, and the Shanghai Composite Index opened at 23 points, a drop of up to 3172.77%!

The index rebounded in 24 trading days, and today's opening call auction ended!
The Asia-Pacific stock markets that opened at the same time also suffered heavy setbacks!
On a panic-stricken day, the Shanghai Composite Index fell by 3.39% in heavy volume, and the turnover reached nearly 3000 billion yuan throughout the day. The Shenzhen Component Index fell by more than 4%, and the ChiNext Index fell by more than 5%.

Countless funds fled, and nearly 400 stocks in the two cities fell by the limit, and the market was bleak.

At the same time, the risk aversion sentiment began to heat up in an all-round way, and the gold, agriculture, pork and other sectors rose sharply. Junshi's pharmaceutical stock sector, which was deployed in the early stage, also ushered in an explosion today.

Today is Friday, and this weekend is destined to be another day for investors to turn off the lights and eat noodles.

Not to mention, all kinds of means have really opened the eyes of A-share investors. Rice stocks are also extremely volatile, with frequent skyrocketing and frequent plummeting, which is a test of investors' nerves.

"Hey, the good days should be over, and you should be very careful when you make deals later on."

Although the loss of Junshi Investment is not large due to the collective explosion of pharmaceutical stocks today, Gu Junhao is not happy staring at the green screen on the big screen.

"I don't know if there are any Jimin who let me let go of the purchase quota?"

(End of this chapter)