Chapter 167 Net Worth No. 1
Li Ze and others continued their bold operations. There are countless stock trading groups like Li Ze on the Internet. Some are small groups established by friends in real life, some are groups like Li Ze who have established a certain level of trust and friendship on the Internet, some are established by securities companies, and some are established by scammers.
In the bull market stage of 2015, such groups were established in batches just like the stock market boom. These people are the epitome of hundreds of millions of stock investors, some of whom made money, some lost money, cried and laughed.
At 9:30, the official trading started. New stocks, liquor, state-owned asset reform, Beijing-Tianjin-Hebei and other recent hot sectors, except for a small increase in new stocks, the rest maintained a sideways adjustment posture.
Off-market funds are cautious in following suit, and some of the hot sectors with the largest recent gains, such as Internet finance and Apple's industrial chain, are still not attracting much attention.
During the opening volatility, the rebound was weak; the ChiNext Index turned positive for less than five minutes before falling rapidly, and the index quickly fell to around the 60-day line.
The rapid plunge of the index brought about a chain reaction, which was a rapid decline in GEM stocks. Dongfang Fortune and Yinzhijie all fell. Dongfang Fortune quickly broke through the previous low and fell to 10.32 yuan. The stock price fell by nearly 3% in a short period of time.
The large-scale plunge in the ChiNext also led to a decline in small and medium-cap stocks. Xibu Securities, which had risen nearly 1%, returned to the flat price, and Wan'an Technology's share price fell back to 10.99 yuan after a brief resurgence.
Yinzhijie, which surged nearly 4% in the morning, also fell back to around 16 yuan. In just half an hour, the market situation changed suddenly. The Shanghai Composite Index also performed weakly today, and the heavyweight index had no intention of protecting the market.
"Boss, the pace has really gotten faster. Previously the market always fell on Thursdays, but now it's not just Thursday, it starts on Wednesday or even earlier." Yin Zhijie rushed too fast in the early trading session, and Xu Jianqing found it difficult to find an ideal buying position, so he simply waited.
At this moment, the index was about to fall below the 60-day line, but Xu Jianqing was not in a hurry. Yin Zhijie's buying had weakened a lot, so he was just waiting for him to continue to fall.
"Don't wait, start building a position, and try to be as secretive as possible. As I said before, the more the price drops, the more you buy." Gu Junhao said in a deep voice.
The ChiNext Index has now fallen below the 60-day line, and is less than 30 points away from falling below 1,300 points. On the one hand, the Shanghai Composite Index is stagnant, and on the other hand, the ChiNext Index continues to break through.
Pessimism in the market is spreading continuously. Investors are wailing everywhere in major stock trading areas and on social media. Gu Junhao knows that whenever the market changes, the sell-off is the most devastating.
Whether it is the beginning of a bull market or a bear market, the main funds will take advantage of various opportunities to carry out an extremely violent round of market cleansing. When retail investors still have the energy to curse, it also means that the moment of real panic has not yet come.
The real panic moment is when investors, big and small, no longer have the energy to curse and are deeply trapped in fear. Then, during the trading session or during a period of sharp decline, they suffer a psychological collapse and quickly sell their shares.
Only when most investors are severely trapped, losses continue to expand, and confidence in holding shares collapses completely, will the market situation change and a new market cycle be born.
The index has not yet fallen below 1,300 points. Gu Junhao chose to start bottom fishing at this time. The corresponding cost is actually much higher, but Gu Junhao doesn't care about this. It is impossible to collect chips at the bottom with 40 or 50 million yuan of funds.
In the subsequent rebound of the ChiNext, the fluctuations of individual stocks were also significant. It was also feasible for Xu Jianqing and others to take advantage of the opportunity of T to gradually reduce costs and increase chips.
When Xu Jianqing heard Gu Junhao's order, he stopped waiting and began to gradually buy; while Wang Ruoyu had already started buying when Dongfang Fortune fell below the previous low.
Dongfang Fortune's opening price this month was 12.03 yuan, and its current price has dropped to 10.24 yuan, a drop of 17.48% in just half a month. It is the stock with the most severe decline in this round of adjustments. Looking at the entire ChiNext, this decline is among the best.
As a leading emerging industry company with a turnaround in both fundamentals and net profit, it appears unusual in this round of adjustments. The continued short-selling trend also discourages retail investors.
The market is so cruel and cold-blooded. I don't know what investors who cut their losses at this point will think when they see the overall increase in Dongfang Wealth in the future.
In the afternoon trading, the downward trend of small and medium-sized start-up stocks became more obvious. Wan'an Technology, which had been fluctuating around 10.90 yuan throughout the morning, could no longer hold on. After a large order hit the market, the stock price quickly fell to 10.82 yuan, with a daily decline of more than 4%.
"It's almost done, we can start building a position." From the decline in the past few days, Gu Junhao also found that there are not many stocks that have hit the daily limit in recent times. A daily decline of more than 3% can be considered a big drop.
The main funds took advantage of this continuous downward trend to force ordinary investors to cut their losses, truly implementing the concept of cutting meat with a blunt knife. Starting from yesterday's opening price, Wan'an Technology has retreated by nearly 10%.
It can also be seen from the trading quotes that many small and medium-sized orders that entered yesterday were significantly sold today, especially the third drop of the day in the afternoon, which triggered a lot of panic selling.
Gu Junhao did not choose to place a pending order, but instead bought in batches according to the real-time bid price. Each buy order was placed at the sell price, and he would not place a large buy order at the sell price at one time.
This efficiency is actually much slower than batch order placement. However, after Wan'an Technology's large volume yesterday, the trading volume this morning has dropped significantly, as if it has returned to the previous period of daily trading volume of 30 to 40 million. This is also the reason why Gu Junhao did not take action this morning.
After this large order hit the market in the afternoon, the trading volume increased. If a large order is placed at a certain price rashly, it may arouse the vigilance of the main funds, and this kind of buy order with uncertain amount and price.
Although the cost of opening a position will be slightly higher than that of a fixed order and the efficiency will be much lower, it is much safer and can be sustained to slowly collect chips.
Throughout the afternoon, Wan'an Technology's trading volume increased significantly. During the continuous decline, Wan'an Technology finally closed at 10.69 yuan, with a daily decline of 4.81%. The final trading volume reached 58.46 million yuan.
In the whole afternoon, Gu Junhao collected a total of 3,500 chips of Wan'an Technology, which was quite effective. The average cost was 0.07 yuan higher than the closing price.
At the same time, the ChiNext Index fell 1.69% during the day, closing at 1318.62 points. While the index officially fell below the 60-day line, it was only one step away from 1300 points.
The Shanghai Composite Index closed slightly lower today, down 0.15% to 2067.28 points. The trading volume continued to remain above 100 billion yuan, and small and medium-sized growth stocks remained sluggish today.
The other three stocks among the four support positions of Junshi No. 1; Dongfang Fortune fell 3.95% to close at 10.21 yuan, and the lowest price reached 10.06 yuan. The trading volume also increased to 373 million yuan.
Yinzhijie closed at 15.51 yuan, down 1.90%. Xibu Securities performed well, closing at 10.03 yuan, down one cent. The trading volume was as high as 159 million yuan, continuing to break the previous high.
In terms of trading volume, for three consecutive trading days, the total trading volume of Xibu Securities reached 260 million yuan, which is equivalent to the trading volume of the previous week. The speed of capital inflow has obviously accelerated.
In the evening, Xibu Securities, which had been moving unusually for three consecutive days, finally issued an announcement that it would hold the first extraordinary shareholders' meeting of 2014 at 2:30 p.m. on July 18, which is this Friday.
In addition to informing Xibu Securities of its performance expectations for the first half of the year, the extraordinary general meeting of shareholders also means that Xibu Securities' targeted share issuance plan will enter an accelerated phase, which can be seen from the trend in the past three days.
No matter whether the news in the market is true or false, you can judge more than 80% of it just by looking at the trading volume. Anything in the stock market may deceive you, only the real trading volume will not deceive you.
After living a new life, Gu Junhao also deeply realized the chaos in the current market. The frequent changes before such major announcements are really too obvious. Some funds nowadays are really too arrogant.
Although the implementation of the registration system in later generations has significantly accelerated the issuance of new shares, the operation has also become much more difficult, and there will be some insider funding operations from time to time, but it is still much more standardized than it is now.
The market has been like this since 2014. I can already imagine what the market was like during the bull market in 2007, which I have never experienced, or even before .
In that era when stock manipulation was prevalent, all kinds of people wanted to enter the stock market to make a fortune. I don’t know how the stock investors of that era survived, and it must not have been easy to survive until now.
Although there are still many manipulated stocks now, including the Wencheng Gang that later made the market terrified, the environment has actually improved a lot. The Wencheng Gang's methods are also very obvious. As long as you discover them and avoid them in time, the losses will not be too great.
Thursday, July 17 was the statutory decline day. The ChiNext Index, which had been falling continuously, naturally had no ability to rebound. The Shanghai Composite Index also remained in a downward trend on this day. Both markets ended up closing in the red.
Gu Junhao from the Fund Business Department led three people to continue building positions. Liu Tingting was responsible for assisting as she did not have a position building task. Throughout the day, several people built positions in the same way that Gu Junhao had built a position in Wan'an Technology yesterday.
Gu Junhao found that yesterday's mindless buying method regardless of price was very useful. While funds were continuously injected, the impact on the stock price was very small. Today, Gu Junhao also asked Wang Ruoyu and Xu Jianqing to implement this unlimited replenishment method.
As for the performance appraisals of the three people, Gu Junhao waved his hand and treated them all as qualified. He was the one who had the final say in the company. During the period of building a position and buying, there was no need to pay too much attention to these trivial matters. The chips were the most important.
Not to mention, this robot-like, almost mindless buying method is really easy to use. Except for the fact that your fingers get a little tired, there are no other disadvantages. You only need to decide the amount of money to place the order based on the size of the order. It can be as large as a hundred or a thousand lots, or as small as a few dozen or even a few lots.
On Friday, the Shanghai Composite Index stopped falling and finally closed at 2059.07 points, up 0.59% in a week. The weekly trading volume reached 462.9 billion. While the weekly K-line reversed last week's cross star, it successfully occupied the five-day, ten-day and twenty-day moving averages.
The Shanghai Composite Index sent a positive signal on a weekly basis. After falling below 2,000 points at the end of April, it has fluctuated at a low level for 12 consecutive weeks. The index finally showed a bullish trend and there is finally light at the end of the tunnel in the market.
The ChiNext Index fell sharply for the second consecutive week, down 3.93% for the week, with the daily line breaking the 60-day level, but the weekly line is still above the 60-day line; the ChiNext Index has fallen by more than 7% in the past two weeks, which has also hit a number of ChiNext constituent stocks hard.
Yinzhijie finally closed at 15.81 yuan this week, down 3.95%. Shareholders of Dongfang Fortune were in great pain this week. While Tonghuashun in the same sector rebounded for two trading days to stop falling, Dongfang Fortune fell 9.83% this week after four consecutive trading weeks, and its stock price closed at a low of 10.18 yuan.
It is worth mentioning that the transaction volume of Dongfang Wealth this week increased by more than 300 million yuan compared with last week. Judging from the transaction volume, there may be another drop next week. The volume did not shrink but increased during the decline, which means that the decline has not yet reached the right level.
As for the other two stocks starting with 002, they both performed well; Wan'an Technology closed at 10.73, up 3.87% for the week. Although it closed with a long upper shadow cross line, in Gu Junhao's view, this position is more like a strong volume wash.
This week also marked the fourth consecutive week that Wan'an Technology closed with a positive line after hitting the bottom of 9.03 yuan. Xibu Securities surged 4.97% this week, and its trading volume increased by more than 400 million yuan compared with last week.
Xibu Securities also maintained a strong position on various weekly moving averages with large volume. Regardless of the final result of today's shareholders' meeting, judging from the trend, it has already entered a bullish trend.
In a bull market, securities firms take the lead. The performance of Western Securities, one of the small and medium-sized securities firms, and Wan'an Technology's four consecutive positive weekly lines seem to echo the positive signals sent by the Shanghai Composite Index.
The performance of the two 002 sector stocks among the holdings is also one of the reasons why Gu Junhao is eager to build a position this week. Judging from the trends of the ChiNext and Yinzhijie and Dongfang Wealth, there is actually still a chance to build a position next week.
However, Wan'an Technology and Xibu Securities have already reacted to the market first. Gu Junhao, who does not want any accidents, decided to complete the position building within this week, and Xu Jianqing and the other two also completed his task very well.
However, in terms of the cost of building a position, it is relatively much higher. The average cost of Wan'an Technology is 10.72 yuan, and it finally held 9,550 lots. The average cost of Dongfang Wealth is 10.20 yuan, and it finally held 10,620 lots. The average cost of Yinzhijie is 15.85 yuan, and it holds 8,200 lots.
In addition to the 11,570 lots of Xibu Securities originally held, there were 2 million yuan in cash held by Xu Jianqing and several small T transactions made by Liu Tingting, with a profit of nearly 40,000 yuan.
As of July 18, the total size of Junshi Growth Mixed Fund No. 1 was 49.0216 million yuan, less than 1 million yuan away from the 50 million yuan mark. Since it was officially established on June 9, the six-week yield has been as high as 22.55%.
Thanks to the sharp rise in Wan'an Technology and Xibu Securities, Junshi No. 1's net value not only did not fall back at all despite the continued lows of the ChiNext Index this week, but instead soared from 1.1908 last week to 1.2255.
With a net value of 1.2255, Junshi Hybrid Growth Fund No. 1 also ranked first among private equity funds of the same size for the first time. Once the ranking was announced, the group that had been paying close attention to Junshi No. 1 Fund was shocked.
"Isn't this little guy too awesome? But could he have bought blue-chip stocks?" Henghua No. 1, which was pulled down from the top spot, naturally paid close attention to Junshi No. 1.
After threatening its number one title for three consecutive weeks and completely dethroning itself this week, the fund manager of Henghua No. 1 could not help but start analyzing the holdings of Junshi No. 1.
Both markets closed lower last week, and the ChiNext Index continued to fall this week. The Shanghai Composite Index rebounded quite strongly, with a number of blue-chip stocks such as real estate and liquor performing well.
The money-making effect this week is in the Shanghai Stock Exchange, ChiNext and small and medium-sized enterprises. Although a small range of individual stocks closed higher, it did not form a money-making effect. The fund manager of Henghua No. 1 does not think that Gu Junhao's stock selection ability is so strong that he can find money-making opportunities in the generally declining small and medium-sized enterprises.
"It's not impossible. With the name of a mixed fund, it really fits his style to do T and swing trading in blue chips." said his assistant.
"This guy is so quick to adjust the portfolio and change stocks! He is just selling dog meat under the guise of selling mutton." The manager also smiled bitterly, but no matter what, he was still a little distressed because he lost the first place he had maintained for a long time.
However, it was snatched away by a rookie fund manager in just six weeks. It can only be said that the new generation is replacing the old generation.
Since Junshi No. 1 appeared in second place, the Henghua No. 1 Fund team has also made some analysis on Gu Junhao, saying that he is young, bold and careful, has a relatively accurate judgment of the overall situation, and is good at going all-in and doing T and trading in waves.
Judging from the fund name of Junshi No. 1 from the beginning, Henghua No. 1 believes that Gu Junhao will still invest in small and medium-sized growth stocks. Judging from the previous reduction of holdings in his personal account Tong Huashun, this judgment seems to be confirmed.
However, Gu Junhao's operations this week were indeed somewhat confusing. From the perspective of the increased holdings in Dongfang Wealth and Yinzhijie, there was a slight loss this week, which also offset part of the gains of Wan'an Technology and Xibu Securities.
In addition, blue-chip stocks performed relatively well this week. If one were to hold a full position in one stock and do T, this increase in net value would be achievable. Gu Junhao's previous personal style was to hold a full position and go all in, and this is also the case with his personal account today.
Apart from Xu Jianqing, Wang Ruoyu and Liu Tingting, no one knows how Gu Junhao operates the fund. Junshi No. 1 has not yet announced its specific holdings. This has led to the outside world's impression of Gu Junhao as the young man who is all-in, and even the fund's investors think so.
The news reached the private equity client group and Taoguba. The clients and fans were naturally delighted. The clients would naturally not analyze Gu Junhao's operations like the Henghua Fund team. Anyway, they already thought that Gu Junhao was a complete all-in freak. As long as he could make money, it was fine. As for other risks, they were no longer important.
Although fans also want to analyze Gu Junhao's holdings, they are unfortunately unable to do so. However, many of Gu Junhao's personal holdings, like Li Ze, still believe that he continues to hold Tong Huashun.
Of course, retail investors are just impulsive, not stupid. Smart people will naturally not publicize their own analysis on the Internet, and if they want to talk about it, they will only talk about it in small groups.
