Chapter 174: 1200 Points Gone with the Wind
When Xu Jianqing said this, Wang Ruoyu and Liu Tingting rolled their eyes. Liu Tingting couldn't help but say, "That's enough. We are already taking risks. Since we have made a trading plan, we must execute it according to the plan. Don't you understand this principle?"
"Well, I was just talking casually. To be honest, if I really have to wait until tomorrow, I'll be sweating inside. There was a big drop today, and if the boss comes tomorrow, I won't be able to explain myself." Xu Jianqing touched his head embarrassedly.
The performance of Yinzhijie in the closing period was somewhat different from yesterday. It did not fall much yesterday, but today Yinzhijie quickly fell after rising, closing at 16.90 yuan in the closing period, down 1.54%.
Yinzhijie, which had a slightly larger volume in the late trading, had a total transaction volume of 78 million yuan. Today, except for Xibu Securities, which rose among the four holdings, the rest fell sharply, and all had a trend of increasing volume.
Dongfang Wealth closed at 9.83 yuan, down 2.67% on the day, with a turnover of 263 million yuan; Wan'an Technology fell 4.85% to close at 10.60 yuan, with a daily turnover of 50 million yuan.
Only one stock, Xibu Securities, rose in the holdings, which could not offset the loss of Junshi No. 1 today; the holdings of Dongfang Wealth and Wan'an Technology remained unchanged, and both stocks plummeted in two days. Yinzhijie had the smallest decline, and under Xu Jianqing's fancy operation, it made a big T of almost half of the position, so the loss today was not large.
The sharp drop in the two stocks also caused Junshi No. 1 to suffer its largest single-day drop since its establishment, with a daily retracement of 1%. For a fund, this is already a relatively large drop.
"Hey, what do you think the boss is thinking? It's been four days and he hasn't come to the trading room. He doesn't care about the big drop like today and he hasn't even made a phone call." Liu Tingting said suddenly.
"Who knows, maybe the boss has other things to do?"
"Not necessarily. I heard from Xiao Li that the boss has been leaving get off work early for several days in a row."
"Okay, stop guessing. The boss must have his reasons for doing this. Maybe he is training us. Let's go off work. I will never do this again next time. I didn't sleep well last night." Xu Jianqing said impatiently.
"Actually, I didn't think it through carefully enough this time. I took such a big risk for a few points of profit. I really should reflect on it." Wang Ruoyu said suddenly.
After completing yesterday's transaction , Wang Ruoyu also thought about whether the so-called bullish and short-selling theory is valid, and whether it is reasonable to sell the chips in hand when the position is already fully invested and optimistic about the subsequent trend.
If you are just an ordinary retail investor with limited funds and sufficient confidence, you can still give it a try. However, if you sell 4,000 chips, the return you will get is only 150 more chips, which is less than 150,000 yuan based on the current market value.
From the perspective of creating profits, 4 million yuan of funds can generate 150,000 yuan in profits within one day. This rate of return is definitely not low, but from the perspective of chip security, it is actually not cost-effective.
The difference in the bottom, the chips in hand are far more important than the intraday gains. Although Wang Ruoyu doesn’t know whether it is the bottom now, the boss has always emphasized that this is the bottom. If he loses the chips, he really doesn’t know how to explain it.
Fortunately, the transaction between the two went smoothly this time, but there must not be a next time. If there is such an opportunity next time, we must prepare in advance instead of acting on impulse like we did now.
"It's not that we haven't reflected on it, but the three of us should think about how to explain to the boss." Xu Jianqing said with a wry smile. Although the transaction plan was successful, it does not mean that there will be no follow-up.
"Hey, what do you think? If Yinzhijie's stock price drops again tomorrow, will I get scolded less if I add my 2 million short-term funds?" Xu Jianqing still has 2 million in his hand, which he has not touched. He said this whimsically.
"You just want to get 200 million, so you deserve to be scolded; go back and write a report." Liu Tingting curled her lips and then walked out of the trading room.
"Let's go and see if the boss has left. If not, tell him what happened in the past two days." Wang Ruoyu said. Several people made such a big decision in private, and they should explain it to the boss in time afterwards.
But unfortunately, Gu Junhao left work early again today, and it was not appropriate to discuss this matter over the phone, so I had to wait until tomorrow at work to report it.
According to sources on the evening of July 24, as of yesterday, 27 cities across the country have made adjustments to their purchase restriction policies to varying degrees, accounting for more than half of the original 46 cities with purchase restrictions.
Although most cities have not officially issued notices, this action does not hinder the implementation of purchase restrictions. According to this trend, except for first-tier cities, the gradual withdrawal of most second- and third-tier cities within the year will become a high-probability event.
"House prices are going to go up, alas." Gu Junhao couldn't help but sigh when he saw the news. The wheel of history rolls forward, and what is supposed to happen will naturally happen.
"So, we bought at the temporary low point?" said Zhang Yiru, who was sitting next to .
"I guess so. There probably won't be such prices in the future." The residential complex I bought in my memory was worth about 27,000 or 28,000 yuan in later generations. However, that was seven or eight years later. Compared with some cities that saw a sharp increase in prices in 2016, it was already very friendly.
In 2016, housing prices in some cities increased several times, while the local average wage remained stagnant, resulting in a huge mismatch between housing prices and incomes.
"It will be difficult to buy a house in the future." Zhang Yiru, who works in a bank, understands this very well.
"These are beyond our control. Go to sleep." Before the rise in housing prices, there was a round of stock market rise. By 2015, part of the housing market funds rushed into the stock market, and part of the stock market funds also rushed into the housing market. When the two sides met, they looked at each other with contempt and walked away.
There is no other reason. Whether it is the real estate market or the stock market, both parties believe that the current market conditions are at their peak and choose to withdraw and enter their respective fields.
Nothing happened that night, and Gu Junhao arrived at the company on time the next day. Today was Friday, the last transaction of the week, and Gu Junhao still planned to enter the trading room.
However, as soon as he arrived at the company, he was blocked by Xu Jianqing and three others. These three people had arrived early, but did not enter the trading room. Instead, they each held a computer in the rest area and browsed the overnight news, in order to intercept Gu Junhao as soon as possible.
"What's up with you guys?" Gu Junhao also noticed something unusual about these people. In the past, these three people never came late, but they basically entered the trading room early and did not come out until after get off work.
"I want to report something to you, but it's not very convenient here. How about we go to the trading room to talk about it?" Xu Jianqing scratched his head and said.
"Is it important?" It's rare to see someone as shameless as Xu Jianqing have embarrassing moments.
"I guess so. It's up to you to decide whether it's important or not, but it's more important to us."
"Okay then, you guys go in first, I'll take care of some company business and come back later."
"Okay, you go ahead and do your work first." Seeing Gu Junhao agree, the three of them breathed a sigh of relief.
After returning to the office, Gu Junhao thought more and more that something was wrong. When had Xu Jianqing ever been so polite and even used honorifics when speaking? Could it be that he had made some big mistake?
After quickly finishing the work at hand, Gu Junhao also came to the trading room and glanced at the three people who were making preparations at their respective workstations. He hoped that they would grow quickly so that he could be more relaxed.
"Come here." Gu Junhao clapped his hands and spoke loudly to the three people, then walked towards the sofa in the trading room. After hearing his voice, the three people quickly stood up, each picked up a folder on the table, and walked towards Gu Junhao.
Xu Jianqing walked halfway and suddenly turned to the water dispenser. He took out a pack of instant coffee from the cabinet next to him, brewed it, and brought it to Gu Junhao. He licked his face and smiled and said, "Boss, coffee."
"If you have something to say, say it. If you have to fart, fart." Not only Xu Jianqing's behavior was offensive, but Wang Ruoyu and Liu Tingting were also cautious, which made Gu Junhao feel that something was wrong.
The three of them looked at each other, not knowing how to start the conversation for a while. Seeing this, Gu Junhao said again, "Xiao Xu, you go ahead and talk."
Based on his intuition, Gu Junhao should be able to confirm that it was Xu Jianqing who was causing trouble again.
"Okay, boss; this is what happened..." As Xu Jianqing described, he told him everything about how he and Wang Ruoyu had secretly re-formulated the operation plan, and each of them presented their operation logs.
By the way, there was also a plan for the operation, the two people's central ideas, and some stop-loss plans. Even Liu Tingting handed in a report, explaining why she did not report to Gu Junhao at the time.
Xu Jianqing even had the ingenuity to bring a letter of apology with him. Gu Junhao just glanced at it casually and said with a curled lip: "You are just a primary school student with poor literary skills. You should just focus on your stock business. You are not good at this."
Gu Junhao's words made Xu Jianqing blush, but fortunately he didn't continue to hurt his heart. Instead, he picked up the report and read it carefully.
The report is nothing more than Xu Jianqing's previous analysis of the broader market and the ChiNext, Yin Zhijie's specific operational ideas, and the stop-loss ideas if unexpected situations arise in the future.
Wang Ruoyu's report was similar to Xu Jianqing's, but he added some of his own reflections and recaps from yesterday, and also apologized for his reckless behavior.
Gu Junhao was not in a hurry to read Liu Tingting's report. Whether he reported it to himself or not, this kind of thing is from the heart. It doesn't matter whether it is said or not. This incident mainly involves Xu Jianqing and Wang Ruoyu.
After reading the two reports, Gu Junhao stared at the two for dozens of seconds and said, "It can be seen that the two of you have made rapid progress and your ability to read the market has improved. Especially Ruoyu, you will conduct a follow-up review and think about whether your behavior is right or wrong."
This was Gu Junhao's true words. It was not difficult to see from their respective reports that although the two of them came up with the operation plan on the spur of the moment, they did spend some effort and formulated a strict operation plan. Xu Jianqing even wrote down how he would sell the stocks and how he would take them back.
It seems that after two months of simulated trading and real trading, the two have lived up to the training provided by the teachers and their own talents, and have gained due understanding of the overall situation and individual stocks. From the perspective of operational thinking, they can be regarded as qualified traders.
"Ah? That's it? No buts?" After saying this, Gu Junhao stopped talking, leaving Xu Jianqing, who thought he was going to be scolded, a little confused.
"That's a nice thought, but of course there is a but." After scolding with a smile, Gu Junhao said seriously: "However, the behavior of the two of you changing the transaction privately is very unprofessional. You should know that if an accident occurs, it will cause serious losses to the company."
In fact, traders are no different from tools. They are not supposed to think about these things. It is the decision of the fund manager, and it is the fund manager's responsibility if anything goes wrong.
The reason why Gu Junhao gave them some autonomy and taught the three some stock selection experience and market analysis experience was to train them, but it did not mean that they could secretly change their operation plans under his nose.
Such behavior, in addition to bringing uncertainty to the fund, getting it out of his control and causing losses to the company, is also a huge challenge to his authority as a fund manager.
Although Gu Junhao and the other two had good intentions and wanted to increase their bargaining chips, it was impossible for them to have the intention to provoke him.
If the three of them set up their own fund in the future, there would be nothing wrong with this behavior, but it is definitely not allowed at the moment, and this kind of thing cannot happen a second time.
Thinking of this, Gu Junhao said to the three people in a serious tone: "I know your starting point is good, but to some extent, your behavior has violated professional standards and is challenging the authority of a fund manager.
To be honest, I do intend to train you to become a qualified fund manager, and I will also give you some autonomy so that you can think independently.
But at present, your responsibility is to be a trader, and a trader must do his job well. What did I say at the time? The chips cannot be lost. Xiao Wang can still argue that he took them back on the same day, but are you really not afraid of accidents the next day?"
Gu Junhao had also looked at the trend of Yin Zhijie. It rose abnormally at the end of Wednesday's trading. Although it rose without volume, who knew what would happen the next day.
Xu Jianqing was actually selling during the late trading stage. Ultimately, this way of thinking is just like that of retail investors, and he did not consider himself as a member of a formal institution.
How can institutions use the mindset of retail investors to operate stocks? Institutions can only take advantage of the psychology and operating patterns of retail investors to make money. Once institutions become retail investors, the market will be in chaos.
You know, Yin Zhijie is not without fast boards. If he really encounters a situation of continuous flat boards, although he has the advantage of the channel, the chips he can buy back will be far from enough.
"Boss, we were wrong. We had no intention of challenging your authority." Xu Jianqing said with his head down.
"Yes, boss, we definitely didn't mean that." Liu Tingting also said repeatedly that she could not admit to this crime and could not afford it.
"I'm sorry, boss." Wang Ruoyu also said sincerely.
"Okay, you're lucky that nothing unexpected happened this time. Remember, you're not retail investors. If you're bullish, there's no need to worry about small profits.
Also, don't be too proud of yourself, you two spent millions to earn less than 5% return, what is there to be proud of? You have all seen my public delivery notes, T operation, especially the next day T operation, you are not qualified. "
Gu Junhao's final heart-piercing blow made the two of them feel awkward. They were quite proud of their operation yesterday, although it was risky, but fortunately it was perfect and they achieved the desired returns.
But after hearing what the boss said, it was true. One spent nearly 7 million and earned less than 200,000, and the other spent more than 4 million and earned less than 150,000. This is the effect of the boss's millions of dollars.
"Finally, although no losses were caused, in view of your unprofessional behavior, each of you will be fined 1,000 yuan and confiscated into the small account of the Fund Business Department. Is that ok with you?"
All that needed to be said had been said, but we couldn't just let them off. 1,000 yuan wasn't a lot for the income of three people, but it was enough to make them feel distressed for a few seconds and teach them a lesson.
"Fine, fine, fine. It's due. I'll hand it in when I leave the trading room." Xu Jianqing nodded repeatedly. It seemed that the boss was going to let him go. At the same time, he thought, another 648 was gone.
"Okay, no problem." Wang Ruoyu also said with a smile.
"Ah? I have to be fined too?" Liu Tingting pretended to feel pain, but she was actually relieved inside. The boss did not blame her too much. Instead, he gave her a very earnest education and the fine was only 1,000 yuan.
"Of course you will be punished. Although you did not participate this time, you did not choose to leave the trading room, which means you acquiesced to their behavior. As a team, of course we will be punished together."
"Ah, Xiao Xu, you're the one who screwed me! And Xiao Wang, you two, pay for me." Liu Tingting was careful and knew that the mood in the trading room had eased, but Xiao Wang and Xiao Xu were still a little hesitant, so she wanted to use this method to relieve the pressure on them.
"That won't work. The boss also said that we are a team and you have to contribute when it's your turn." After Liu Tingting's yelling, Xu Jianqing returned to his former magical self.
Gu Junhao couldn't help but laugh when he saw the three people laughing. People who can trade stocks really have to have a big heart and be able to let go of anything. They had just been scolded and fined, but now nothing happened to them.
"Okay, don't trade today, even if the price is down. Calm down, but you still have to watch the market. No one can be lazy."
"Okay, no problem, boss."
"Um, boss, I want to use the remaining 2 million to buy Yin Zhijie today. Do you think it's okay?" The other two had no plans to trade today, so they readily agreed to Gu Junhao's order.
After Xu Jianqing returned home yesterday, he thought about the trend of Yin Zhijie and still felt that there was a possibility of decline, so he thought that he could invest another 2 million yuan in Yin Zhijie today.
"Do you think it's okay?" Gu Junhao glared at him. It seemed that the punishment was too light and he didn't learn his lesson.
"I understand, I understand; I'll just watch the market today and do nothing else." Xu Jianqing also reacted. Although Junshi No. 1 is fully closed and there is no need to worry about redemption, it is still necessary to have necessary liquidity reserves. What's more, the boss just said that there will be no trading today. He was really bad-mouthed.
In fact, the best trading period has been missed today. Although Gu Junhao felt something was wrong in the morning, he did not expect that the three of them would do such a thing, so he arrived at the trading room at nine o'clock as usual.
Reading the report and teaching three people a lesson also wasted a lot of time, and as a result, he had missed the best observation period of the call auction and the opening stage. Generally, in this situation, Gu Junhao would choose not to trade anymore.
After returning to his workstation, Gu Junhao looked through the trend of the call auction and the trading time after the opening. Today, the Shanghai Composite Index is still very strong. After a slight gap-up opening, it continued to fluctuate around 2110 points.
In terms of sectors, the real estate sector benefited from the relaxation of purchase restrictions and rose collectively. Some small brokerages have been trying to hit the daily limit, but a certain science and technology company, as a leading enterprise, is still lying on the ground. Its share price opened high and closed low. It has now fallen to around 9.6 yuan, a drop of more than 1%.
"Shameless, you will suffer the consequences when the time comes." Gu Junhao looked at his stock trend and shook his head; the stock price is indeed cheap, but there is no rush to build a position at the moment, as there will be plenty of opportunities in the future.
As for the ChiNext, the downward sentiment eased today. The index quickly rose after opening low. It has now risen to around 1286 points, up nearly 1%. ChiNext constituents and small and medium-sized enterprises are mostly in the green at this moment, and the trading volume has shrunk significantly.
"The index did not touch the lower shadow line and rebounded with reduced volume. This is the real bottom."
In addition to the strong performance of blue chips, all major concept sectors also performed very well today. Influenced by the conversation of an important figure yesterday, the computer sector performed strongly today and various domestic substitution concepts emerged one after another.
Dongfang Wealth, Wan'an Technology and others stopped falling. Dongfang Wealth returned to the 10 yuan price level, but Yinzhijie continued to fall today as Xu Jianqing judged.
It was already 10:30 at this time, Yinzhijie fell 1.17%, and the stock price returned to yesterday's oscillation range near 16.70 yuan. This price is indeed worth buying, and there is still 2 million yuan of funds in hand.
However, Gu Junhao did not plan to increase his holdings. After giving them a lecture this morning, it would be better to let them calm down. Sometimes, one can see things more clearly by being an observer. Besides, the fund also needs some liquidity.
Another stock that surged yesterday, Xibu Securities, slowed down for adjustments today. Xibu Securities has returned to a narrow range of fluctuations. It is no wonder that the brokerage firm is nicknamed a scumbag by the market for its performance, which is always unsustainable.
"Boss, aren't you going out today?" Liu Tingting asked Gu Junhao while sitting at her workstation.
"I'm not going out." Gu Junhao replied. He had not planned to come in, but since he was already here, he would take a look at the market in the trading room. He also wanted to see how the ChiNext performed today after yesterday's big drop.
"By the way, boss, have you traded in the past few days?" Not only Liu Tingting, the other two also wanted to know how Gu Junhao handled the reversal trend of the two markets this week. As soon as Liu Tingting spoke, they pricked up their ears.
“Nothing.”
"Ha, you didn't operate your personal account either?"
"Didn't I tell you? Don't throw away your chips. What's wrong with my personal account? I have to follow the same operating ideas. Besides, Tong Huashun's performance is not that bad."
Tong Huashun followed the sharp drop in the ChiNext Index in the early trading yesterday, but it rebounded earlier than Dongfang Wealth. It had already started its rebound journey at 10 o'clock in the morning. At the close of the afternoon, it even went against the market trend and rose again, and stood above the 60-day line again.
Tonghuashun, whose trading volume shrank below 100 million yuan, saw its stock price become strong again after it stabilized on the 20-day line and rebounded. The bullish trend was very obvious and there was no need for trading at all.
Moreover, it even retained the second upward gap. Considering the terrible decline in the index, it can be said to be very strong. However, although Tong Huashun's volume shrank yesterday, its turnover rate was higher than the previous trading day. It seems that many retail investors were washed out.
"That's right. Tonghuashun is much stronger than Dongfang Wealth. Dongfang Wealth has fallen badly this month. Fortunately, we reduced our positions long ago, otherwise the fund's retreat would be really terrible."
This was said by Xu Jianqing. After hearing it, Gu Junhao just smiled and didn't say much. During this period of time, he was not sure about other stocks, but he was still very confident about Dongfang Wealth and Tong Huashun.
In the morning, two of the fund's four holdings rose, two fell, and the market returned to a stable state. In the afternoon trading, the scumbag brokerage sector, which had been adjusting for a morning, also began to exert its strength, helping to pull up the index.
Brokerage stocks started to gain momentum in the afternoon, and Xibu Securities also began to slowly recover from the green. At 1:30 p.m., Xibu Securities turned red. So far, all funds except Yinzhijie closed in the green.
In an environment of shrinking volume, the trading market cannot create much waves. Today's focus is more on repairing sentiment. It seems that the main funds have almost collected all the chips they can, so the ChiNext performed relatively smoothly throughout the afternoon.
Except for some stocks that were supported by favorable factors, the small and medium-sized growth sectors basically maintained an increase of between 1% and 3%, and most stocks continued to oscillate within the solid box of yesterday's big negative line.
At three o'clock in the closing, both markets closed in the green. The haze lingering in the hearts of investors was finally alleviated. The Shanghai Composite Index had a turnover of 111.4 billion throughout the day, and the index hit a new high of 2126.61 points. The daily line had four consecutive positive lines and suddenly formed a box. On the weekly line, there was also a 3.28% big positive line that successfully broke through the 60-day line.
The ChiNext Index closed at 1285.77 points, up 1.09% on the day, but trading volume has shrunk to 18 billion yuan. The last time the ChiNext Index saw such a shrinkage was on the following trading day on May 16, when it plummeted to around 1210 points.
The bottom is also at 1200 points, there is also a long lower shadow black candlestick that opens high and closes low, and there is also oscillation within the black candlestick body on the next trading day. Even the intraday oscillation in the afternoon is similar.
There is no doubt that this is the bottom of the ChiNext. It will be impossible to see 1200 points again in the next few years. The ChiNext Index, whose bottom is gradually rising, will not fall below 1300 points the next time it bottoms out.
Gu Junhao was very sure about this. It had nothing to do with foresight. Although he had indeed traveled through time and space and knew the general trend of the stock market, it was still difficult for him to remember exactly where it had fallen.
Just like Dongfang Wealth, Gu Junhao only remembered that it would probably fall to around 10 yuan, but he couldn't remember the exact low point. He was so sure about the bottom of the ChiNext only based on his years of trading experience.
"The Shanghai Composite Index broke through with large volume, and the ChiNext Index rebounded with small volume. The starting point of the bull market is today!" Gu Junhao said secretly.
