Chapter 179 August
Trading in July ended here. The Shanghai Composite Index performed strongly throughout July, fluctuating sideways from early to mid-July, and did not follow the correction of the ChiNext. At the end of the month, it experienced another round of eight consecutive positive days and a sharp rise.
This month, the Shanghai Composite Index also led the three major stock indices with a monthly increase of 7.48%. The monthly trading volume of 2.39 trillion yuan was more than 1 trillion yuan more than that in June, and the increase was very obvious.
Although the ChiNext Index had five consecutive positive days at the end of the month, it still ended with a drop of 4.28% after falling for half a month.
The five stocks managed by Gu Junhao, whether they are 002, which belongs to the small and medium-sized stocks, or GEM constituent stocks, all performed well; his personal holding Tong Huashun rose 37.89% against the market on a monthly basis, far ahead of the fund holdings.
In terms of fund holdings, Wan'an Technology had the largest increase, with a monthly increase of 20.63%; with a holding of 9,550 lots, the market value also reached 11.6128 million yuan.
The second is Yinzhijie, which also performed quite well this month, up 8.31%; as for Dongfang Fortune, although it fell 11.80% for the whole month, due to timely reduction of positions, not only did it not suffer losses, but it made a lot of profits in the process of bottom fishing.
Among the four holdings, Yinzhijie still has the highest market value, with a market value of 14.826 million yuan at the end of the month, followed by Xibu Securities with 14.208 million yuan and Dongfang Wealth with a market value of 12.5388 million yuan.
Such a market value is also due to the T-trading done by several people in recent days. Including cash assets, the total size of Junshi No. 1 Fund at the end of July was 55.1856 million yuan, with a net value of 1.3796.
"Sure, the performance this week is good." On the computer, Gu Junhao looked through the delivery notes of the three people one by one. If he had any questions, he would refer to their trading logs or ask them personally.
In general, the three of them also performed T operations during the trading session this week, but they still focused on stability, especially Xu Jianqing, who made good use of his liquidity, mobilized the emotions of Qiyin Zhijie, and was not greedy when there was profit, and withdrew in time.
The other two also performed well. Liu Tingting seized the few opportunities available at Xibu Securities, while Wang Ruoyu had a relatively easier time this week. The trading volume of Dongfang Wealth was over 300 million in four days, and the day of the big surge had a trading volume of over 400 million.
Back to the familiar volume, Wang Ruoyu can operate it easily. Dongfang Wealth is still the best. No matter how the stock price rises in the future, he does not have to worry about selling.
Unlike Wan'an Technology, which had a huge trading volume today, with a turnover of over 8% and a transaction volume of only 176 million yuan, Gu Junhao even regretted increasing his holdings.
It is better to build a position of 6 million yuan according to the final standard. However, since it has been added, wait and see when there is an opportunity. If it doesn’t work, find a chance to reduce the position by half. In this way, the cost of Wan'an Technology will be equivalent to zero.
The remaining funds can also be added to Dongfang Wealth. Dongfang Wealth has such a high trading volume at the bottom, so there is no need to worry about clearing the position.
"Okay, go and announce the fund's net asset value ratio to the public, and also pay attention to the pressure on the Growth Enterprise Market."
Today, Dongfang Wealth started to fall again. Judging from the situation, the ChiNext is under great pressure and it is estimated that it will take some time to adjust. However, Gu Junhao believes that it is only a slight adjustment and the probability of falling below 1,300 points is not high.
It's already half past five, so I might as well take a look at Wan'an Technology to see if there is a Dragon and Tiger List, Gu Junhao thought after giving instructions to the three people.
Clicking on the data of today's Dragon and Tiger list, Wan'an Technology is on the list. As expected, both the buying and selling seats on the Dragon and Tiger list are hot money. The largest buyer bought a total of 10.5535 million yuan, while the first seller sold a total of 9.1916 million yuan, both of which are not large amounts. The total amount of the Dragon and Tiger list is only 9.7959 million yuan.
It is a very ordinary Dragon and Tiger List, but for Wan'an Technology's trading volume, it is already good. Wan'an Technology's last Dragon and Tiger List on May 28, the first buy only bought 2.54 million yuan.
Let the hot money have fun. If there is no major accident, Wan'an Technology will be a paradise for hot money for a long time. During the rebound from 2015 to 2016, it was the hot money that controlled the situation.
"I'm going back first. You guys should get off work early. We still have one day tomorrow, so just hold on a little longer." Gu Junhao said with a smile as he looked at the three busy people.
Although it is the end of the month, it is not the weekend, so he cannot rest yet and has to hold on for another day. After nearly two months of operation, the Junshi No. 1 Fund has achieved a yield that is completely out of the cost area, and Gu Junhao can finally breathe a sigh of relief.
The returns from a fund are different from those from your personal holdings. If you hold a position as an individual, even if you are stuck, you can still hold it with confidence knowing that the general trend remains unchanged.
However, the fund has to take investors’ emotions into consideration and have certain stop-loss positions. Continuous drawdowns will definitely have an impact. But now it is different. The fund as a whole has completely left the cost area, so there is no need to worry even if there is a drawdown.
As soon as the final July earnings of Junshi No. 1 were announced, it caused a huge sensation in the private equity circle. Unlike the slight advantage last time, this time it was far ahead of the second place with a return of more than 12%, which is well deserved.
Everyone is amazed at the stability and sustainability of Junshi No. 1. However, compared with the returns of the fund account announced to the public, the return rate of Gu Junhao's personal account, which is only known to very few people, is even more exaggerated.
In two months, excluding the transferred funds, Gu Junhao's personal account had a yield of over 80%. With just one daily limit, his personal account would double again.
The extremely high returns also brought Gu Junhao considerable exposure locally. No one dislikes a young man who can help everyone manage their finances.
After the fund's net value was announced that evening, on the first working day of August, Junshi Capital received a lot of calls on its corporate phone.
However, Shen Boyu helped Gu Junhao deal with all of this, so he didn't need to show up in person. It was a wise decision to choose sophisticated workplace elites as company executives.
Gu Junhao still appeared in the trading room. Today was the first trading day of August and the last trading day of the week.
The three members of the trading team can now remain calm about the fund ranking first. They no longer have the excitement they had before. For the three, the weekend means much more than first place.
"Everything remains the same." After a brief morning meeting, Gu Junhao said to the three people.
Affected by the overnight plunge in foreign markets, the three major stock indexes opened slightly lower today. The Shanghai Composite Index opened at 2194.17 points, and the ChiNext Index fell below 1340 points, opening at 1339.98 points.
After the official trading started, the two markets fluctuated greatly and the trading was extremely active. The ChiNext Index remained at a low level and fluctuated widely, with obvious signs of adjustment, but the Shanghai Composite Index performed very actively.
Bank stocks rose rapidly, leading the index to a rapid rise; while defensive sectors such as pharmaceuticals and agriculture also started rapidly during the same period, and the index quickly turned positive.
"Looking at these today, it seems that the Shanghai Composite Index is also going to adjust." Although the stock index hit a new high in the morning rebound, the ones pulled up were all defensive sectors, and the main funds seemed to have differences here.
During the same period, Wan'an Technology also rushed up again after a slight turn to green, but compared with the volume of more than 10,000 lots that crashed into the green market, Wan'an Technology's upward volume was obviously insufficient.
"Three transactions, probably the hot money ran away yesterday." Gu Junhao smiled as he looked at the large orders on the trading board. The three large orders were 4,600 lots, 4,100 lots, and 1,500 lots respectively.
This corresponds exactly to the funds at the top of yesterday's Dragon and Tiger List. These hot money really move from one place to another, and their market sensitivity is also very high.
When defensive sectors collectively surged in the early trading session, they immediately fled, running faster than rabbits.
Wan'an Technology rose to 12.35 yuan, but was unable to rise, with only two large orders of more than 500 lots. Seeing this, Gu Junhao also placed a sell order of 550 lots at 12.30 yuan.
It’s not that I don’t want to list more items, but if there are too many, they won’t be sold, and the price will be lowered too much, which will affect me.
With just 550 sell orders, Wan'an Technology's stock price quickly fell back to 12.29 yuan, which shows the attitude of funds inside and outside the market. After that, Wan'an Technology fluctuated at 12.30 yuan for two minutes and then fell again to 12.20 yuan.
There was still no big capital to take over the chips. After fluctuating at 12.20 yuan for five minutes, Wan'an Technology returned to the flat price of 12.16 yuan. With a sell order of 600 lots, the stock price turned green again.
Wan'an Technology is already the most resilient of the fund's holdings. The other three stocks and Tonghuashun all opened low and fell in the morning session. At this time, Junshi No. 1's holdings turned green again.
"Boss, the profit effect today is average, and Yinzhijie's performance is too weird." Xu Jianqing was the most helpless. Today, Yinzhijie opened high and opened low, and the trading volume was extremely sluggish. A sell order of 78 lots was enough to drop the stock price from 17.80 yuan to the flat price of 17.65.
It was already 9:40 at this moment, Yinzhijie had turned green and reported 17.49 yuan. All the delivery orders that appeared on the trading list were below 100 lots, including 1 lot and 2 lots. The largest buy order was only 53 lots.
At this moment today, not only the main funds, but even the retail investors with large amounts of funds seem to have not woken up yet; it can be said that if Xu Jianqing uses his 2 million funds to buy more than 1,000 lots at this moment, a 3% increase in the stock price should not be a problem.
"It's a bit weird. Looks like you can take a rest again today." Gu Junhao also took out Yin Zhijie's intraday chart and couldn't help laughing after reading it.
Although the market is sluggish and the trading volume is not as good as in 2015, Gu Junhao rarely sees such a trend. Even during the period when Wan'an Technology and Xibu Securities had the lowest trading volume, it was not uncommon to see buy and sell orders of 100 or 200 lots in the trading session.
Yin Zhijie's rows of one-hand and two-hand buying and selling settlement orders are really funny.
"Yes, with this trading volume, it seems that the work has been completed early, but what do you think of this situation, boss?" Xu Jianqing had never encountered such a situation before.
“There are several possibilities. One is that the trading volume is low and no one is participating. If you want to sell, you can only sell one by one. However, the volume was OK yesterday, and it suddenly became like this today. This possibility is unlikely.
Then it is highly likely that it is the behavior of the controlling institution, who deliberately split the orders to scare retail investors. You need to look at the turnover rate and the changes in the turnover rate and the specific funds. "
"So how should we deal with this situation?"
"For now, of course, we are holding the shares. Our current size is too small, so there is no need to go head-to-head with the controlling funds. When our size increases, we may be able to play with them."
"Haha, Boss, do you also want to compete with the main capital?"
"You can try it when you have the ability, but don't move it today. It looks like the main capital is testing the market to see how many retail investors are paying attention to this stock. It is estimated that it will continue for a few days."
"Okay, I got it. I won't move."
The strange trend of Yin Zhijie did not affect Gu Junhao; it once again brought the current situation back to Wan'an Technology. At this moment, Wan'an Technology had fallen to 11.87 yuan, with a daily drop of 2.4%, finally exceeding the decline of other holdings.
At 10:30, the Shanghai Composite Index turned green again, and the index fell back from the record high of 2209 points to below 2200 points. The fluctuation range was extremely large, which fully demonstrated that there are huge differences in funds at this position.
At 10:05, the Shanghai Composite Index started to rebound again from the green market. The main funds mobilized today were still from the banking sector, and the banking sector also took turns to rise.
The banking sector has rebounded dramatically since the dividends were distributed in July. The Ningbo Bank, which Gu Junhao is optimistic about, has risen from its lowest price to today's price of over 10 yuan.
"You have to have a place in the next fund no matter what."
Under the influence of the banking sector's successive rise, the Shanghai Composite Index returned to its morning high, but still failed to break through. By the morning close, it fell back to 2203.07 points. The morning's intraday chart showed an inverted "W" trend.
In the afternoon, influenced by the news that the first nose of a domestically-produced large aircraft rolled off the production line at noon, the large aircraft sector surged rapidly, and Zhonghang Aircraft quickly rose to 12.96 yuan, approaching the daily limit.
During the same period, coal ash stocks also soared sharply under the stimulation of Anyuan Coal Industry's daily limit; the surge in China Everbright Bank also activated the banking sector again!
For a time, the Shanghai Stock Exchange was very lively, and the ChiNext Index quickly turned positive under this stimulus. Banks, military industry, medicine, and agriculture all rose today, and coal was also rising in the afternoon.
At two o'clock in the afternoon, the Shanghai Composite Index hit a high of 2224.07 points, up 1%; the market situation was extremely high, and calls for a bull market were heard for a while.
"It's hopeless. We have to clean up the market." Gu Junhao curled his lips. It was really a failure to use so much weight to maintain the market. You know, small and medium-sized enterprises are still lying in the ground.
As the Shanghai Composite Index rose, the ChiNext Index quickly turned positive, but all small and medium-sized start-ups quickly dived when the index reached a high of two o'clock.
A rapid rise in a short period of time can easily make people emotional; most investors simply do not have time to judge. The main funds take advantage of this mentality to repeatedly push up the weight stocks, trying to attract off-market funds and small and medium-sized start-up holders in the market to cut losses and chase high prices.
From the rapid dive of small and medium-sized start-up stocks with major concepts, it is not difficult to see that the main funds have achieved their goal; at 14:05, the Shanghai Composite Index fell to 2215 points.
The market changed dramatically, and the three major indexes plunged rapidly. Gold and nonferrous metals led the decline. Zhonghang Aircraft, which had risen abnormally in the afternoon, has now fallen from its highest price close to the daily limit to an increase of about 2%.
"What the hell, what's going on? The index hit a new high today, but I'm losing more and more money?"
"The diving started earlier? Aren't they usually diving at around 2:30? Why did they start at 2:00 today?"
"I escaped Black Thursday, but not Friday. What should I do with the Zhonghang plane I bought on December 9?"
"I don't believe in the bull market anymore..."
The index plunged without any warning. All major stock trading areas and online communities were wailing, but Li Zequn was in jubilation. It was because Tong Huashun, who likes to go against the market trend, once again proved his resilience.
Tonghuashun opened low and continued to fall throughout the day, with its share price falling to as low as 18.30 yuan, near the five-day line, a drop of more than 5%. It then fluctuated around the daily average price of 18.70 yuan.
When the index rose rapidly in the afternoon, Tong Huashun did not react at all, and even fell below the yellow moving average price of the day, which scared everyone in the group into breaking out in a cold sweat.
Tong Huashun's five-day line rebounded in the morning, making those who were used to short-term trading and sold out in the early stage unable to bear it anymore and adhere to the principle that a strong market maker will not go below the five-day line.
Most of the group members who had time to watch the market today, bought Tonghuashun at the bottom price around 18.50 yuan . Some who didn't have time could only buy at a price above 18.70 yuan.
Not to mention, although each of these people does not have a large amount of capital, they are all used to going all in. More than 10 people buy at a time, with a total of over 2 million yuan in capital, which does have some impact on the stock price.
Tonghuashun has become the well-deserved group stock in the group. Regardless of whether they had cut their losses or sold out before, most of the operators in the group have made money from this stock.
Naturally, people have some feelings for the stocks that make money. In recent times, Tonghuashun has never hit the limit down, and the maximum intraday decline is only 6%, so naturally everyone is happy to buy at the bottom.
However, the index soared in the afternoon and Tonghuashun fell again, which really made people sweat.
But at this time, when the index dived, Tong Huashun unexpectedly began to rise. At 14:10, Tong Huashun returned to above the yellow moving average and closed at 18.80 yuan.
Tonghuashun’s stock price continued to rise and quickly reached 18.99 yuan.
"Haha, this stock is so fucking magical. It always goes against the market. When it rises, it plunges, and when it plunges, it rises."
"Fuck, look, it's almost flat, I made money, haha."
In less than ten minutes, Tonghuashun rushed to the flat price level and the index plunged severely. At this time, the ChiNext Index turned green again and the Shanghai Composite Index also fell to the flat point.
Tonghuashun encountered a wave of selling pressure at the flat price and fell again to around 19 yuan. However, at this moment, the funds to take over had already appeared. The trading quotation|exceeded 3,000 buy orders, and Tonghuashun rose in a straight line.
It rose by more than 1%, and the intraday fluctuation exceeded 7%.
"Oh my god, this is amazing, haha, I actually made money from the big dive today, this is the first time."
"Who says it's not?"
"Tonghuashun is a really good stock. It never lets me down. Every time I'm worried about selling out, it always gives me a price that I'm willing to keep buying."
"It still has to be Li Kuang. Thanks for Li Kuang's recommendation. Haha, temporary profit is 5%, okay." Within the group, the atmosphere was different. Some people were wailing in the A-share market, while others were laughing; this is true for all kinds of situations in the world.
Unlike Tonghuashun, the fund's holdings all followed the index and dived rapidly in the late trading, especially Wan'an Technology. At two o'clock, Wan'an Technology, which had been fluctuating sideways at a low level for nearly a day, dived rapidly.
In just half an hour, the stock price fell from 12.04 yuan to 11.70 yuan, a daily drop of nearly 4%. The trading volume was larger than that during the trading session, but less than the opening price.
It seems that when the market opened, all the hot money really ran away. Without the hot money stirring up trouble, Wan'an Technology seemed to have returned to the period when the main funds controlled the market.
The method is to take advantage of the changes in the index after the daily limit and then plunge to clean up the market; Wan'an Technology has never had a daily limit, so it is really difficult for passing funds to make money from it during the period of time.
I looked at the price, and it was only 2 cents away from the five-day line. Then I looked at the funds I had sold in the morning, and it was only 676,500 yuan. There was no need to wait for anything, and I could just buy it back.
At 11.74 yuan, Wan'an Technology took back 576 lots, which was considered a small T, which is not bad; if nothing unexpected happens, Wan'an Technology will have small negative and positive lines in the next few days.
Gu Junhao has basically seen through the methods of the main funds. In fact, there are quite a few people in the market who can see through it, including some retail investors. However, seeing through it is one thing, and being able to hold on to it is another.
There are many smart investors who have been in the A-share market for many years, and some of them are very familiar with some technical techniques and trading methods.
The reason why the entire market is still dominated by people who lose money is that they cannot hold on to their investments, which is also a very important factor. The reason is still a problem of confidence. They have no confidence in the market and in themselves.
At three o'clock in the closing, the Shanghai Composite Index rose and then fell, leading the two markets to plunge sharply in the late trading. It finally closed at 2185.30 points with a drop of 0.74% for the whole day.
In the last hour of trading, the Shanghai Composite Index plunged 1.77%, which can be regarded as a sharp drop. The ChiNext Index, which is mostly composed of small and medium-sized stocks, performed poorly today, although there was a small increase in the afternoon trading.
However, the performance was sluggish throughout the day, and with the severe plunge of small and medium-sized start-ups in the late trading, it eventually ended with a sharp drop of 1.38%. Small and medium-sized start-ups generally fell between 1% and 3% today. Even Tong Huashun, which had surged high, eventually closed with a drop of 1%.
Dongfang Fortune closed down 2.64% today, Xibu Securities fell 2.36%, and Wan'an Technology, which plunged sharply in the late trading, hit a new low for the day in the call auction, closing at 11.68 yuan, down 3.95%.
Wan'an Technology's total daily turnover was 152 million yuan, while Yinzhijie, whose trend was extremely strange today, had its total daily turnover reduced to 19.68 million yuan, a new low since May 7, 2013. However, the decline was not large, only a 0.28% drop.
With a turnover rate of less than 1% and such low trading volume, Gu Junhao believes that it is most likely that the main capital did it intentionally. At such a low level, they are trying to give retail investors the impression that the main capital has completely withdrawn.
The trading volume is sluggish and the turnover rate is low; coupled with the poor performance in the first half of the year, this is the impression that Yin Zhijie has left on the market in the current period.
Yinzhijie's stock price surged 37% in three trading days after the ex-rights date, opened sharply higher and hit the daily limit the next day due to good news, and now is ignored. It only took two months, which perfectly illustrates that out-of-date internet celebrities are worse than dogs.
The first trading day of August 2014 started off with a bad start, which poured cold water on the investors. Most investors and institutions suffered sharp declines during the day, including Junshi No. 1.
Junshi No. 1, on the first day of August, the fund suffered a daily loss of more than 1 million yuan, with a drawdown of up to 1.88%.
