Chapter 175 Wind Change
The ChiNext Index fell for three consecutive weeks and barely held the 60-day line. As Junshi No. 1 was fully invested in small and medium-sized start-ups, it saw the dismal performance of small and medium-sized start-ups in the second half of this week.
It was originally thought that the net value of the fund would decline sharply, but the result was beyond everyone's expectations. At the end of this period, the total assets of Junshi No. 1 amounted to 49.7962 million yuan, and the net value of the fund was 1.2449, an increase of 1.99% compared with last week.
However, the stock that contributed the most to the fund's net value was not Xibu Securities, which had performed strongly for four out of five trading days, but Yinzhijie, a stock held by Xu Jianqing that he believed was very likely to continue to fall.
"Look at the weekly chart. Yin Zhijie's weekly chart has risen by 2.78% and has already stabilized on the ten-day line. Do you now know how stupid what you did was?"
Yinzhijie opened at 15.75 yuan this week and closed at 16.25 yuan today. The declines on Thursday and Friday seem drastic, but in fact, judging from the weekly trend, Yinzhijie has already completed the adjustment.
"You need to have a long-term vision when investing in stocks, only then can you make big money. What future can you have by staring at the daily charts every day?" Gu Junhao said to Xu Jianqing with some regret.
Xu Jianqing's face turned red because of what he said. At that time, he was really trading based on the daily adjustment trend, and wanted to take advantage of the index's downward trend to operate.
When the index fell to the bottom, the volatility of individual stocks has been significantly reduced. Some stocks with a rebound trend have actually performed quite well. For example, Wan'an Technology has only fallen 0.28% this week and is still in an upward trend.
Currently, the only stock that is truly in a broken state is Fangcaifu. Fangcaifu fell 2.26% this week, the largest decline among the four support positions, and the only stock that has not yet shown a rebound trend.
In general, the decline of the ChiNext on Thursday and Friday was more of a scare tactic. The rise in the first half of this week gave most small and medium-sized companies ample room for a correction. In the second half of the week, the main funds took advantage of the panic caused by the index break and washed out the last batch of firm shareholders.
Among the four supporting positions , the increase in Yinzhijie is enough to offset the decline in Wan'an Technology and Dongfang Wealth, which means that even if no transactions are made this week, the net value of Junshi No. 1 Fund will still maintain an upward trend.
The three were stunned when they saw the result. They couldn't help but admire the boss's stock selection and position management capabilities. You know, this week the fund created its largest single-day drawdown since its establishment on Thursday.
Under such circumstances, the fund can still maintain a steady rise, and the proud operations of the fund are insignificant in the face of the net value.
"Okay, summarize it carefully. The purpose of doing T trading is not to show off your skills by focusing on the profit of one or two cents, but to keep a sense of the market during the process and learn how to gain more profits through swing operations.
One thing to remember is that the space for intraday trading is always limited. The best result you can achieve is only 22% at most. However, in a steadily rising trend, the profit you can get, in addition to security, may be much more than this. "
22% is just a theoretical result at present. From the lower limit to the upper limit, how many times can a person encounter such an opportunity in his life? But if you operate the market well, you may have this income every year.
There is no eternal bull market or bear market in the A-share market; but there are always waves. If you do well in the waves, you will be invincible.
This is the concept that Gu Junhao has always advocated: waves are king. It is not difficult to see from his past transactions that he is very good at grasping waves. However, people in Taoguba and even Xu Jianqing were confused by his reputation as Brother T and did not learn the essence of it.
"Let's get off work. Remember to pay the fine and announce the net value of the fund." Gu Junhao didn't want to put too much pressure on the three of them. He decided to get off work early and relax so that he could go home earlier.
The road of investment is still long. Everyone accumulates experience from little lessons and eventually completes the transformation. This is true for Gu Junhao himself, Xu Jianqing and others as well. Compared to most people, they have actually done very well.
"Ah? It's just past 4 o'clock and you're already off work?"
"Stop pretending. You guys left work early before and I thought I didn't know. Come on, let's go when you're done." Gu Junhao scolded with a smile. This is the advantage of doing stocks. You don't have to strictly follow the office system, and it's actually very relaxing when you're not trading.
After leaving the trading room, Gu Junhao did not return to the office, but left work early as before. He had not experienced such relaxation for a long time. It had just been the beginning, and he could already make money while lying down.
Unlike last weekend, this weekend, there were many good news in the market. The Shanghai Stock Exchange organized major securities companies to hold a two-day Shanghai-Hong Kong Stock Connect instructor training in Yangcheng. The official launch time of the Shanghai-Hong Kong Stock Connect was also officially "announced" at the meeting.
The Shanghai-Hong Kong Stock Connect, which was officially approved on April 10 this year, will be officially launched on October 13. There are two to three hundred securities dealers participating in the event, and the scene is extremely hot.
The official opening of the Shanghai-Hong Kong Stock Connect also means the integration of the A-share market with international capital, which increases the liquidity of market funds. From then on, A-share investors have another frequently mentioned term: northbound funds.
Northern funds refer to a series of funds entering A-shares from Hong Kong, led by foreign capital. The inflow and outflow of northbound funds will become one of the important reference indicators for investors in the future.
Bank of Communications applied for mixed-ownership reform, and a series of reform plans also sounded the prelude to the concept of state-owned enterprise reform. During the bull market from 2014 to 2015, in addition to small and medium-sized growth stocks, state-owned enterprise reform was also a very important sector.
On Sunday afternoon, the chief economist of Anxin Securities published a public article pointing out that the impact of the global financial crisis has gradually weakened, the economies of major developed countries have gradually recovered, and he continues to be optimistic about the stable and improving trend of my country's economy.
The article even openly stated that "it is currently risky to be bearish on A-shares. Looking ahead to the next one or two years, the worst of the capital market has passed, and we are crossing the old cycle and heading towards a new cycle."
This is the first chief economist of a securities firm who has been publicly bullish that Gu Junhao has seen so far. As to whether he is the first in the true sense, Gu Junhao really doesn’t know. There are so many experts that he can’t remember them all.
At the same time, HSBC also released the domestic manufacturing purchasing managers' index for July, with an initial value of 52, the highest level in 18 months, which greatly boosted market confidence.
The Manufacturing Purchasing Managers' Index, referred to as PMI, is a comprehensive index compiled at the end of the month by summarizing the survey results of corporate purchasing managers. It is one of the important indicators reflecting the macro-economy.
The boom-bust line of PMI represents the economic situation to a certain extent. Above the boom-bust line, it means that the economy is developing, otherwise it means there are signs of recession.
As for the monetary policy, which has the most obvious impact on the capital market, it also has great benefits. Market analysts believe that after suspending reverse repurchases twice, the central bank has achieved net injections for 11 consecutive weeks, with the amount of injection reaching 18 billion yuan. Based on relevant news, the market generally expects that the monetary policy will continue to maintain targeted easing in the second half of the year.
Everything seemed to have changed within a week. Last week there were frequent negative news, but this week, they seemed to have disappeared.
While ordinary investors are still cursing, they don’t know that the market trend has completely changed.
However, when the overall environment changed, individual stocks seemed extremely silent. Among the four stocks held by Gu Junhao, except for Xibu Securities which announced the approval of short-term financing, there was no news on the other three. However, this is also related to the silent period of performance.
It's not just my own holdings, most of the stocks in the market that have announced performance forecasts are like this. In this atmosphere, the A-share market entered the trading day on July 28.
Influenced by the positive news on macroeconomics and other aspects over the weekend, market sentiment was high today. After the call auction ended, the three major stock indexes all opened higher.
The four holdings of Junshi No. 1 all opened high, with Xibu Securities still having the largest increase, opening at 11.58 yuan, up 1.49%.
The securities sector opened sharply higher, stimulated by the news of the merger of two major securities companies, Shenwan and Hongyuan, over the weekend. Hongyuan Securities was close to the daily limit and opened almost flat.
At the morning meeting, Gu Junhao left the trading room after holding the meeting with the three of them as usual. At this time, he was leisurely watching the market in the office while listening to his assistant Li Xinyu reporting to him.
"Boss, our fund still ranked first last week. Some investors called the company to inquire about the issuance of the second fund. There were also some posts on the Internet analyzing the holdings of our fund. In addition, some people with investment intentions asked if they could come to visit the company or meet with you."
"Oh, how about the analysis of the specific holdings?" I had already replied to some people about the second fund. It seemed that these people had not given up and called the company.
As for those who asked to meet me, these people probably didn't have any channels. But this is also a good thing. The day of delivering money to the door has finally arrived, and the days of smiling and drinking to attract customers are finally over.
The capital market is indeed based on returns , and only the rate of return can prove everything.
"Oh my god, what's going on? It's rising sharply!" Someone in Li Ze's group who was paying attention to the stock market early in the morning shouted. The name of their group is quite interesting: "God will not treat those who go all in unfairly."
This group was founded by Li Ze, who is a warm and good-tempered person. He has made many like-minded friends on the Internet. In addition, there are several people with more free time serving as group managers.
Tong Huashun, which was originally a group stock, had lost most of its group members last Thursday and Friday. Among the group of more than 30 people, only seven people, including Li Ze, are left holding Tong Huashun.
Among those who were washed out last week, they are now keeping their positions short for fear of further declines and dare not enter the market. Today's opening trend has made those with short positions confused and they don't know how to deal with it.
