Chapter 18 Continued Rebound
Nothing happened that night. The next day, Gu Junhao got up early as usual. It was the second to last trading day of this month. Whether he could double his money depended on today's trend.
The ChiNext Index and Wangsu Technology both experienced yesterday's bottoming out. Whether they can develop an expected trend today remains to be seen.
After the call auction ended, the ChiNext Index and Wangsu Technology both opened lower. The ChiNext Index opened at 1256.24 points and Wangsu Technology opened at 65.61 yuan.
Looking back at the Shanghai Composite Index, it also experienced a golden needle bottoming trend yesterday, falling below the 2100 point box again and also breaking the 60-day moving average before recovering. Today it also opened slightly lower, opening at 2126.69 points.
"Today's call auction opened quite well." Although it opened low, Gu Junhao felt that this would be better. Yesterday's golden needle bottoming out allowed bargain-hunting funds to make a lot of profits. There was short-term profit-taking funds rushing in during the opening stage, so such a low opening was actually beneficial.
If the market were to open high, it would most likely open high and close low today. Yesterday's hot money would surely dump the market without any scruples based on huge profits .
There has to be a low opening so that off-market funds can see that it will be profitable to enter the market to take over. Only then will they enter the market. Otherwise, after entering the market, they will take over at a high price. Not a fool would do such thing.
At 9:30, trading officially began. The Shanghai Composite Index, the ChiNext Index, Wangsu Technology and other popular stocks turned positive, but this turn of events only lasted for a few minutes before turning green again.
"It should be yesterday's profit-taking. It depends on whether the funds can take it over." Without paying too much attention to the Shanghai Composite Index and the ChiNext Index, Gu Junhao focused his attention on the trend of Wangsu Technology.
The index does have a certain reference value, but it still depends on the performance of individual stocks. This was the case in 2013. After the stock market crash in 2015, the index's reference value had reached a very low level, with the stock index moving sideways and individual stocks rising in number.
The main force of Wangsu Technology is still very cunning. Although there are mostly sell orders on the market and the stock price has fallen to a low of 64.80 yuan, there have been continuous small orders to absorb funds, and there are a large number of orders at the price of 64 yuan.
"Run quickly, the order will fail. It looks like I need to cover my position. The ChiNext Index has fallen to the 60-day line, so I don't think it can hold the 20-day line."
"I ran away when the market opened and sold at 66.34 yuan, which was basically the highest point, hehe."
"I'm almost there too. I was thinking of taking it back, but after seeing the order, I realized it's hopeless. I'd rather make a small profit and put it in my pocket safely."
Sure enough, after seeing the messages from retail investors in the stock trading area, Gu Junhao smiled. This was most likely to wash out yesterday's floating chips.
Time passed second by second, and Wangsu Technology continued to fluctuate around the flat price until 9:50, when the stock price turned green again to 65.36 yuan.
Thousands of buy orders suddenly appeared on the market, absorbing all the fleeing funds. The stock price was forcibly pulled to 65.90 yuan. Subsequently, a large buy order of 5,000 lots emerged, and the stock price rose straight to 66.64 yuan, an increase of 2.86%, setting a new intraday high.
"Is this the end of the wash? No more pretending? Starting to rise?" Gu Junhao chuckled.
However, at this moment, the stock trading area of Wangsu Technology became lively, and countless retail investors began to curse and express surprise.
"Oh my god, you just pulled the plug after I sold it? Just my 200 shares?"
"There was a deposit just now, and I was so scared that I sold it, but he pulled it. It was really weird."
"It's a fake rally to deceive buyers. Sell quickly. What kind of rally is it if it can't even close at the five-day line?"
Looking at these comments, Gu Junhao couldn't help but feel a little emotional. This is how the Chinese stock market is. In a market dominated by retail investors, many people are easily guided by their emotions and easily give up their chips.
As for the bull market that the public talks about, it is only a temporary market. There has never been any bull market, and the bull market is often the beginning of most losses.
Each round of bull market is often the beginning of harvesting leeks. When most people know about the bull market, it has actually entered the final stage of the bull market. At this time, whether they can resist temptation and greed, control their hands and not enter the market, or take profits and exit, depends on their personal ability.
In his previous life, Gu Junhao had been in the capital market and had seen countless people who were smiling during the bull market, but failed to react when the stock market crash came. In the end, they not only lost all their profits but also their principal. Some even lost their fortunes during the stock market crash in 2015.
The more glorious it is when you make money, the more miserable it is when you lose money. This is always the case in this market full of sickles.
Even before I traveled through time, the index had remained around 3,000 points for a long time. How many retail investors had endured ?
In comparison, the bull market in the United States is a real bull market. The slow bull market can last for decades, which is what a mature capital market should be like. After all, the Chinese stock market is more speculative.
In a market dominated by retail investors, which is so unfriendly to retail investors, it is no wonder that most people would warn others: "Don't speculate in stocks, it hurts people."
Pull your mind away from this nonsensical speculation and continue watching the market.
With the increase in buying and the emergence of large orders, the stock price of Wangsu Technology has reached 67.58 yuan and is still rising.
Accompanied by these large orders, Wangsu Technology quickly rushed upwards, reaching the price of 68.52 yuan in a blink of an eye, and once again successfully stood above the five-day stock price line.
"Yes, it looks like the market is stable today, and there will be a big surge." Looking at the intraday time-sharing chart which was constantly rising, Gu Junhao completely relaxed.
At this time, his book value has exceeded 390,000 yuan, and his profits have doubled within the month.
At 10:50, after Wangsu Technology paused near the five-day line price for two minutes, it was pulled up to 69.45 yuan by a large buy order of 5,000 lots, with a daily increase of 5.71%.
"Sure, with such a large order, is it going to regain the 70 yuan mark and then go straight to the daily limit? Is it that strong?"
As expected, at 10:10, there were two large orders of 5,000 lots, and the stock price of Wangsu Technology went straight to 71.33 yuan, but encountered resistance at this position.
"I still have more than 4,000 yuan in my account. Let's do a T and see if I can get 100 more shares."
Looking at the large sell order above, Gu Junhao quickly placed a limit down order to sell out his 5,700 shares of Wangsu Technology.
With the advantage of placing an order, 5,700 shares of Wangsu Technology were quickly traded at a price of 71.28 yuan. After the transaction, the total funds in Gu Junhao's account reached 411,000 yuan.
