Rebirth of the investment era

Li Meng nodded in response and quickly issued instructions to the traders to continue reducing their positions.

Subsequently, various stocks held by the fund, such as Huatong Securities, Orient Securities, Orient Venture Capital, Shibei High-tech, Zhangjiang Hi-Tech, Zijiang Enterprise and other popular "securities and venture capital" stocks, encountered stronger selling. During the trading session, 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 GEM also dived, and the enthusiasm of active funds to follow the trend further collapsed.

"It's diving again, it must be poisonous. Why does the index start to dive every time it reaches ten o'clock?"

Some of the retail investors who followed the trend were very unhappy when they saw the popular stocks in the market plunge one after another and the great rebound situation was reversed in an instant.

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

"Damn it, it's so weak. The potential Hengxin can't move even 10 boards in 11 days. It's so damned!"

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

"Probably not. If we 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 stable."

“Even if the rebound fails, it shouldn’t fall below the early low, right?”

"It's hard to say, the 'Three Musketeers of the East' have all collapsed, and no one is placing orders for popular concept stocks in the oversold direction of small and medium-sized enterprises and GEM. The money-making effect of the market is quickly dissipating. If this continues... selling will only It will become heavier and heavier, and the funds willing to follow the trend will only become smaller and smaller.”

"Unlucky, unlucky...this set is really depressing."

"Zhezhou Dongfang has turned green. Damn...it has actually turned green. It was clearly doing well before, but why did the selling suddenly become so heavy?"

"Hey, Wanqi Enterprise has also closed the lower limit again, damn... I even bought the bottom today, and I got buried again!"

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

"Everyone has said that Fortune Road will liquidate positions on a large scale and stop profits. The market must have turned. If you still hold on to luck at this time, you are really licking your blood."

"Hey, Oriental Securities has also turned green, and sure enough... it's such a scam again!"

“It’s really a bullshit bull market!”

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

"Securities and venture capital originally speculated on bull market expectations, but now the expectations are almost gone, then securities and venture capital naturally have no logic to rise. Is it normal for securities and venture capital to fall? Look at this situation...not to mention falling back to the initial level. From the original position, it will have to fall by at least 10% to stop."

"Securities and venture capital say that expectations are weakening, and the stock price correction is understandable. So what is the reason why the small and medium-sized board and the GEM have been so weak recently?"

"It's simply too much!"

"The GEM index has almost doubled from more than 700 points to more than 1,300 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 the high level. After all... no matter how much Even with good future expectations, the stock price cannot keep rising.”

"I think it's mainly because of the end of the year, when funds are tight, right?"

"Funds are tight. How come it wasn't tight before? But it's just the past two days that money has been tight?"

"Is it possible that there is some major negative news in the market that has not been announced?"

"Holy shit, shit... Huatong Securities has also turned green. Hey, the market looks like today... there is no hope!"

In the midst of extremely heated discussions among many retail investors, at 10:35, the Shanghai Stock Exchange Index turned green, and the ChiNext Index's decline expanded to 1.23%. Almost all popular "securities and venture capital" stocks encountered heavy selling pressure, with gains rising from the intraday high. points, it has fallen back by more than half, and many relatively weak concept stocks have fallen underwater. The decline exceeded the low opening range at the opening, and all the investor groups chasing positions today have been trapped.

At 10:38, the entire market fell into a correction and dive.

Twenty minutes ago, the daily limit had just been sealed, setting a potential level of 10 in 11 days. The market volume was once again significantly increased, huge selling orders poured out, and the closing order 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 potential Hengxin board breaking, the hot money that was active in the market and followed the trend retreated sharply, and the popular stocks where hot money gathered ushered in further dives.

At 10:41, Zhezhou Dongfang’s transaction volume exceeded 500 million, a decrease of 3.33%.

At 10:43, Orient Securities, which followed the trend and dived, also fell by 2%, close to the drop at the opening, and at this moment... Zijiang Enterprises in the 'Venture Capital' concept section suddenly crashed, and the drop fell within 1 minute, that is, From around 1% to 6%, panic orders surged out.

At 10:46, the Shanghai Stock Index's decline expanded to more than 0.5%, and market investment sentiment further collapsed.

At 10:55, the Shanghai Stock Exchange Index's decline expanded to 1.25%, and the ChiNext Index's decline expanded to 1.79%. Both of them swallowed up all the rebound gains after the opening, burying all the investors who chased after the day.

"Teacher, he is still selling it!"

Seeing that the index is continuously diving, the stocks that were sold on a large scale on the Dragon and Tiger list yesterday by Fortune Ventures, Orient Securities, Huatong Securities, Shibei High-tech, etc. are still experiencing related simultaneous selling. In the trading room of Yanjing and Anlan Fund, Xie Wanting said excitedly: "Look at these stocks... the traces of simultaneous selling are too obvious. It feels like he still has a very large amount of chips in his hands, waiting to exit. "

"I saw it." Next to Xie Wanting, Zhou Guohua stared at the split-screen display of various popular stocks on the big screen in the trading room, and nodded slightly, "Billions of sell orders have been made, but in the end, there are still some stocks in hand. With such a large amount of chips, how much money does this guy... lurk in?"

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

It stands to reason that even if Su Yu deduced that the IPO market might restart through other market information and news, there is no reason to spend billions of funds on such a large scale to bet on the explosion of this line!

Sometimes...he feels that the other person is a gambler.

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

"Based on previous estimates and the market signs at this moment, I'm afraid it must be at least four to five billion in size." Xie Wanting thought for a while and said, "Such a heavy warehouse intervention, I didn't feel it at all before, I really don't know How did he do it? And when did he start infiltrating?"

Zhou Guohua thought 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 starting from the briefing organized by the supervisory authorities during the National Day. It is judged that the IPO market is about to restart.”

"The layout is far-reaching..."

"In this wave of 'securities and venture capital' markets, most of the profits have fallen into his pocket."

"And... from the market perspective, many of the leading institutional funds that triggered this round of 'securities and venture capital' prices seem to be still hesitant."

"The more they hesitate, the harder it will be for them to appear in the end." Xie Wanting said, "Mr. Su from Fortune Road still holds a large position, but he has reduced his holdings by so much in the past two days. With a lot of chips, the cost of the chips in his hand at this moment is estimated to be very low."

"Such a low cost..."

"At a time when market liquidity is gradually lacking, and news of the market's IPO restart is about to come to fruition."

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

"If other major institutions without cost advantages are still hesitant at this time, they will probably be harvested by Fortune Road."

"People all have a sense of luck." Zhou Guohua chuckled and said, "If you think that the wealth road has been cleared and the impact on the market has passed, then you will inevitably take a chance and restart the IPO market. Before the news was officially announced, with the help of the gradually fermenting news, they continued to speculate and transferred the risk to the majority of retail investors. Unfortunately... sometimes the performance of the market always backfired, and my own cognition and judgment were always so... ridiculous!"

As he spoke, he turned his attention again to the big screen where the market conditions were constantly changing.

I saw that the decline of the Shanghai Stock Exchange Index has expanded to 1.5%, and the GEM Index has dropped by more than 2%. All industries and concept sectors in the two cities have also turned green, and the entire market hot spots have been wiped out. There is no place with obvious money-making effects.

And also at this moment...

Yanjing, inside the Shenhua Fund, the trading room; and inside the Magic City Yinghui Fund, the trading room.

Relevant core traders and fund managers, in desperation, have completely turned their long positions into short positions. They have taken the initiative to place orders and sell at large prices to reduce position losses and profit retracement.

Similarly, in Shenzhen, Yuhang, Jinling, Guangdong... and other places.

Many major institutions and funds gathered in the fields of "securities and venture capital", after they clearly discovered that there was a problem with the market's ability to undertake the market and that there was no chance of a turnaround in the market, they no longer maintained any market, and began to sell on a large scale and compete for the market. The remaining liquidity will take the initiative to sell down.

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

At 11:30, when the market closed at noon, the Shanghai Stock Exchange Index fell further to a drop of 1.87%, while the ChiNext Index fell nearly 3%. The performance of the two cities was extremely tragic.

After the midday close.

Faced with a market that opened low, rebounded, and then fell rapidly, almost collapsing.

As long as they are still in the market and have not exited their positions on a large scale, they are all wailing and feeling very depressed at this moment.

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

He blew up.

At 11:17, when Huatong Securities fell below the 3% level, his personal position account was liquidated by the over-the-counter financing institution he financed. Currently, in addition to the principal of 1.16 million left in the account , and the 2,000 Huatong Securities stocks that I bought today but cannot sell, there is nothing left.

The 50 million principal he invested basically returned to zero.

The 41 million yuan he borrowed from loan sharks has basically returned to zero, with a total loss of nearly 100 million.

And such a huge loss could not be made up by himself. If his brother-in-law Gu Chijiang refused to save him, he would have no choice but to jump off the building.

"Why? The restart of the IPO market is obviously good for the securities and venture capital sectors, so why has it continued to decline like this?" Even though he has squandered all his accumulation over the years and owed huge debts, he still feels in his heart He was also very unconvinced, "You can obviously pull it up, why do you have to smash it!"

Of course, at this moment, he was not the only one who had this question.

Yu Hang, within Minghui Capital, He Hong, the product manager of Minghui No. 2 Fund, also has the same question as him: "It stands to reason that the news of the resumption of IPOs in the market will gradually spread and ferment, which will be good for the fields of 'securities and venture capital' Ah, the funds coming out of the high-end concept stocks in the market's small and medium-sized board and GEM market should be gathered in this area to avoid risks, and there should be no shortage of undertakings. Why... not only did it not rise, but it collapsed? "

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

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

Xu Zhongji replied: "Whether it is the bull market expectation or the news expectation of the market IPO restart, during the continuous riot stage of 'securities and venture capital', it should be considered that it has been reacted. Now the sentiment has ebbed and the market risk aversion has increased. Regardless of whether it is good or bad, That’s all bad news.”

"Fortunately, we didn't pursue this line..."

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

If they had not resisted the temptation of the coming bull market and pursued the securities and venture capital sectors, they would most likely be buried in the market now and would be in a dilemma.

"But the news has not really been announced." He Hong said, "Actually, I think there is a time lag in the information. If the main funds want to trade, they can use this time lag in information to pull up 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 suddenly the differences started to widen, and everyone started running away."

Xu Zhongji thought for a while and said, "Maybe it's because of the lack of incremental funds in the market! Wealth Road has withdrawn, and many funds that follow the trend have gathered. The market selling pressure is heavier than usual, and under the recession, the incremental funds that follow the trend are active It would have followed the recession, and there would not be so much funds to absorb the market rebound, so... everyone saw that they could not pull it up, and they lacked the power to follow the trend and take over, so naturally they changed hands and started to sell it. "

"But before the collapse of Zhezhou Dongfang, the market actually took on a lot of money in the fields of 'securities and venture capital'." He Hong said, "I always feel that the market has other negative aspects that have not been reflected."

"Other negatives?" Xu Zhongji was stunned.

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

Xu Zhongji hurriedly shifted his gaze and took a closer look. His eyes showed surprise: "Zhezhou Oriental Group announced a shareholder reduction plan. Wu Jinghao actually wants to reduce 5% of his shares in the next three months. According to the current market value of Zhezhou Oriental, the holdings would have to be reduced by several hundred million!"

"We only announced the positive news of the successful acquisition two days ago, and now we are announcing the reduction of holdings. Isn't it too impatient?" He Hong also saw this important announcement, "Mr. Wu's appearance is too ugly."

Xu Zhongji thought for a while and said: "I'm afraid it's not that it's ugly, but that there is a capital chain problem within Zhezhou Oriental Group. Otherwise, Mr. Wu would not have been so eager to reduce his holdings. No wonder... Zhezhou Oriental is doing like this today. It’s weird, but it turns out there are funds on the market and I got the news in advance.”

"As soon as the announcement of this reduction came out, there was no hope for the market in the afternoon." He Hong said, "After all, Zhezhou Oriental is the core leading stock in this round of 'securities and venture capital' market, and the leading stock price has soared. Later, when major shareholders reduced their holdings and collapsed, other similar stocks may have the same hidden worries."

Just as He Hong expected...

After the announcement of Zhezhou Oriental's shareholding reduction came out, stock trading forums across the Internet exploded in an instant.

Countless retail investors who hold Zhezhou Oriental directly cursed. Others... those who hold Oriental Securities and Oriental Venture Capital, as well as other high-level adjustment concept stocks, are also worried about the stocks they hold. Influenced by Zhezhou Dongfang, in other words...it also became the next Zhezhou Dongfang.

"Damn it, Wu Jinghao's eating looks are too ugly."

As the announcement of the shareholding reduction continues to ferment, the hot money group of Yuhang, where Su Yu belongs, has participated in the Zhezhou Oriental hype, and the hot money that has not fully appeared at the moment is also instantly furious.

"After a few daily limits, when I saw the stock price rising, I immediately issued an announcement to reduce my holdings. It was really ugly. What's even worse is that it was announced at noon. I am worthy of being a business leader in Yuhang."

"It's good in the early days, but it's negative in the later days. There's no one in the entire market who looks uglier than him."

"Zhezhou Dongfang's acquisition of Eucalyptus is a well-known brand, and it has nothing to do with the benefits at all, right? It just happened to catch up with the outbreak of the 'securities and venture capital' market, so it took off and was speculated by various funds. It has become a concept leader and has a considerable market premium.”

"Despite this, it can't change Wu Jinghao's ugly eating habits."

"It seems that many people were killed by this huge thunder in Dongfang, Zhezhou!"

"After all, he is one of the 'Three Musketeers of the East'. After the opening of the market, the relay funds have exceeded 800 million. How many people have been killed?"

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

"At that time, I saw signs of opening in Zhezhou Oriental, and I originally wanted to join it, but then I considered that the check plate was not much smaller than that of Oriental Securities, and there was no bonus from Mr. Su's Fortune Road seats, so I let it go. , I didn’t expect... I have escaped disaster now!”

"When the market opens in the afternoon, there should be no suspense if the check drops to the limit."

"The key is not the problem with this check, but the overall impact this announcement of reduction has on the market!"

"Indeed, by doing this, Wu Jinghao has set a very bad example for all major shareholders of high-ranking stocks in the market. With this announcement, everyone may have to consider the issue of reducing their holdings of major shareholders of high-ranking stocks. And with this The hidden danger is, who is willing to take over the hot stocks at high prices?”

"Without the driving force of high-priced hot stocks, and without these tickets opening up market space, the market would have gone up like crazy!"

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

"Originally, I wanted to do an oversold rebound of popular stocks, but now... I really don't dare to do it, for fear of being directly buried by the major shareholders."

"Mr. Su's Fortune Road seats have all been cleared and withdrawn. We really shouldn't miss them anymore."

"Sell it, sell it... I've been really exhausted these past two days."

"The money-making effect is quickly disappearing, while the money-losing effect is intensifying. The difficulty of making money has indeed increased many times in the past two days. I originally thought that the potential balance could open up space today, but there was an emotional backlash, but the floor was flat. If it can be sealed, it is estimated that this check will go up again in the afternoon."

"In the morning, all kinds of funds worked together to barely reverse the decline and regain the mood. However, in the face of the collapse of Zhezhou Oriental, the market failed to bear it! If it had caught it at that time, there should have been a decent rebound today. , It’s a pity... In the end, we can only step on each other’s path.”

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

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

When the news in the group was quickly refreshed, everyone was having heated discussions, and everyone seemed pessimistic about the market, the time passed 1 p.m.

I saw the two suspended markets restarting trading.

And when the market prices of the two cities started to jump rapidly, Zhezhou Oriental, which was directly hit by the negative impact of the reduction of holdings, fell directly in a free fall position within 5 seconds, and the limit was sealed by lightning, and yesterday and today were All the funds from all walks of life that bought and never appeared in the market were all trapped.

same……

As Zhezhou Oriental, a popular and popular stock in the fields of 'securities and venture capital', suddenly fell to its limit.

The other two stocks of the "Oriental Three Musketeers" that have a strong correlation with the trend, Oriental Securities and Oriental Venture Capital, 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" completely collapsed.

All the core and popular stocks in the related "securities and venture capital" fields have experienced sudden drops, and selling orders have emerged one after another.

"The lethality of Zhezhou Dongfang is really extraordinary!"

Seeing that a stock in Zhezhou Oriental fell to the limit, which directly caused the "Securities and Venture Capital" line to be completely abandoned by funds and plummeted rapidly without any resistance, Li Meng was also surprised in the trading room of Yuhang Investment: "Mr. Su, the liquidity of the entire market is rapidly drying up. Almost all funds are being sold, and the market's ability to take over is getting weaker and weaker. If this continues... the market will inevitably fall unilaterally."

"There is nothing we can do." Su Yu said, "The trend has reversed and the massacre has begun."

From the bottom of the market at the end of June to now, the Shanghai Stock Exchange Index has been able to reach around 2,500 points, and the ChiNext Index has been able to reach over 1,300 points. This has exceeded many people's expectations, and it has overdrawn many market expectations in the future. , accumulated a very huge profit margin.

Under such circumstances, the index peaks in the short term and the trend reverses.

At a time when future expectations are gradually becoming pessimistic, and huge profit-taking orders are beginning to reduce positions and cut profits, especially at this moment when IPOs are about to restart in the current market, funds from all walks of life will naturally not be polite at all, and at this moment, Or the funds that have been chasing higher in the past 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. Even if the market plummets, the pressure will be reduced." The reduction of liquidity will not have much impact on our profit retracement."

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

As the instructions were executed, the two funds reduced their positions in the relevant stocks and became more violent. Large orders of thousands or thousands of lots were sold, suppressing the liquidity of the market.

Of course, in a trading environment where consensus has almost been reached, they are not the only ones placing pressure on the market to sell orders.

Many hot money, large investors, and major institutions, when they find that the market has been unable to recover and can no longer rely on emotions to prevent an effective rebound, almost all reduce their holdings in a pressure-clearing style. After all, at this time... the market trend has just reversed. The market investment sentiment has not completely subsided. With a glimmer of hope, a lot of retail investors have taken over. 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 is not reduced at this time, there will be no competition for this abundant liquidity.

When the market sentiment completely cools down, the market returns to its lifeless and gloomy decline, and begins to shrink significantly, no one will take over the sale.

in this way……

When almost all the main funds sold sharply.

The market completely lost resistance. From the moment Zhezhou Dongfang fell to the limit, it entered a continuous unilateral downward trend without any effective rebound.

Finally, at 3 o'clock, the market closed.

The Shanghai Stock Exchange Index plummeted 2.87%, fixed at 2321.21 points; the ChiNext Index fell 3.65%, fixed at 1271.46 points. The two cities' total turnover was 128.6 billion, which was slightly smaller than yesterday, but not by much, and the two cities had a total turnover of 128.6 billion. The major index fell below the 15-day line, and the K-line shape was completely bad.

In addition to the index, sectors and individual stocks also performed extremely poorly.

All industries and concept sectors in the two cities were not in the red. Real estate, infrastructure, medicine, and petrochemicals fell slightly, staying within 1 point. Others all fell more than 1 point. Even the banks that are market stabilizers in the two cities sector, its decline also reached 2.13%.

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

First of all, the two major concept sectors of 'securities and venture capital', which have been performing for four or five consecutive trading days, have gone out of the concept sector with an average increase of 20%. Today, these two major concept sectors have completely collapsed, with both declines of more than 4%. , its related core concept stocks, Zhezhou Oriental fell to the limit, Wanqi Enterprise fell to the limit, Oriental Securities and Oriental Ventures all fell to the limit, Shibei High-tech and Zhangjiang Hi-Tech fell 7 points, Huatong Securities fell 6.86%, Huaxin Securities fell sharply 5.63%……

Secondly, there are concepts related to "restructuring and backdooring" that have been seriously oversold, and ST delisting risk warning related concepts.

These two major conceptual areas have no performance today and are still completely abandoned by the main funds. Among them, the market value of Xinwei Group has fallen below 50 billion, which is almost halved compared to the peak of 80 billion.

Finally, there was intensive speculation in the early stage, and they have stepped out of the conceptual fields related to "mobile Internet" and "smartphone industry chain" that have increased several times.

These two areas are in terrible shape today.

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

There is also the field of ‘Internet finance’ that has shown some success following the line of ‘securities and venture capital’.

We were also massacred by funds today.

Related core concept stocks, Shanghai Steel Union fell to the limit, Huake Financial, Changliang Technology, Jinzheng Shares, etc. fell more than 5 points, and Flush, Oriental Fortune, Hengsheng Electronics, etc., their declines were also greater than the decline of the GEM Index.

Faced with such a closing result...

Faced with a retracement of nearly 20% or 30% in many stocks in two days.

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

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

However, when the Dragon and Tiger List came out.

When the main funds, hot money, and the majority of retail investors in the market saw that Fortune Road was once again on the sell list of the five popular stocks, they were extremely shocked. The hearts that originally held a glimmer of hope suddenly sank to the bottom.