Chapter 198 High and Low Switching
“Happy cooperation”
Seeing Gu Junhao's serious look, Jiang Jianbai didn't say much. At this moment, his mood was also a little fluctuating. For Jiang Jianbai, today was a new beginning.
Baining Auto Parts is Jiang Jianbai's hard work. If possible, he would not easily give up even 1% of the shares; however, the company has reached a bottleneck period in its development.
If he cannot break through this bottleneck, the fishermen in the client base of Junshi No. 1 Fund will be his future. But unlike them, Jiang Jianbai is only 30 years old and still has plenty of time to work hard.
This is an opportunity for Gu Junhao to develop his career. If he can maintain the current profit level of Junshi No. 1, Gu Junhao will definitely have a large number of connections in the future.
This is exactly what he values. Another point is that although Gu Junhao is relatively weak now, he has an advantage that he holds a large number of stocks and can cash them out at any time.
With money and the connections he will soon have, he can be considered a potential stock. Perhaps his decision to actively seek investment in Junshi No. 1 was the most important decision in his life.
Another point is that judging from the current valuation of the company and the allocation of equity, Gu Junhao is not greedy and fully respects his partners, which is what he values most.
Even considering Gu Junhao's current assets and capabilities, it would be completely possible for him to acquire an auto parts company like his own, or even if he was asked for more equity, he would be able to accept it.
But he didn't do that, this is a partner worth getting along with.
"Okay, it's done; let's go celebrate." Jiang Jianbai came back to his senses and said to Gu Junhao and others. It was already noon and the hotel had been booked.
In this way, the group drove to the booked hotel separately. After the dishes were served, Gu Junhao looked at the table full of dishes. The wine was also good, which was quite rich.
"I'm sorry to have made Brother Jiang spend so much money." Gu Junhao said a little embarrassedly. The entertainment he gave to Jiang Jianbai last week was much more shabby than it is now.
"It's my duty. You're the sponsor, haha. Don't be polite. We're all hungry. Eat a few bites of food and then we'll clink glasses."
"I'm a little hungry."
The lunch ended with toasts; Guo Yuanwei took Li Xinyu and left, while Gu Junhao and Zhang Yiru went back to the hotel to rest. When they woke up, it was already night.
But it doesn’t matter, there is still the night view to enjoy, and they can go to the scenic spot tomorrow; so the two of them simply packed up, and after the meal, they went to enjoy the night view of Feng City.
The next day, the two visited the famous scenic spot in Feng City, the bald man’s hometown; then they returned to Beicang with some local specialties.
The short but fulfilling weekend passed just like that. I spent more than 6 million yuan, which was indeed quite fulfilling.
When he got to work on Monday, Gu Junhao immediately transferred 6 million yuan to the account of Berning Auto Parts. He had promised to transfer it on Monday, so the sooner the better.
In this way, Gu Junhao's personal cash flow returned to about 2 million yuan; he had to work hard to make money again, and he couldn't always rely on pledge or leverage.
Although he has been engaged in the stock business for many years, Gu Junhao is very cautious in the use of leverage. Gu Manyi has wanted Gu Junhao to increase the financing amount several times , but was rejected by Gu Junhao.
It's okay to make money slowly, but you must ensure the health of your funds. In the financial market, funds are the biggest plug-in. Even if you have a prophet, you cannot guarantee that you will not fail.
When the main capital wants to attack you, it is useless to be a prophet; you can still hold on without leverage, but if you add leverage, the probability of a margin call will be even greater.
As for using funds to control a stock, Gu Junhao had never thought about this. The operation method used by the Wencheng Gang was a lesson learned.
If you want to make money in the A-share market, you can't escape the process of cutting leeks , but you don't have to do it so badly. It is completely possible to follow the trend and earn the money you deserve.
There was no major news in the market over the weekend. Apart from the crazy vote-buying at the roundtable meeting held by the LED industry, Gu Junhao did not see what he wanted to see in the message from Mr. Xu Yan.
At 9:25, the Shanghai Composite Index opened slightly higher, and the ChiNext Index opened slightly lower; the two markets performed differently; Tong Huashun and Dongfang Fortune, which both hit their daily limit last Friday, opened significantly higher.
Among them, Tonghuashun opened at 25.05 yuan, up 2.87%, and Dongfang Fortune opened at 13.79 yuan, up 2.45%.
"Only 5,000 lots were sold in the call auction. Today is not good." Looking at the trading volume of Tong Huashun in the call auction, Gu Junhao pondered.
The opening price of 25.05 yuan is less than 7 points away from the rights-filling price of 26.70 yuan, and the rights-filling price is only 1 point away from today's daily limit price.
If the stock wants to start to rise after the rights issue, it will have to increase its trading volume significantly today and push the stock up to its daily limit. However, judging from the call auction, the main funds seem to have no intention of continuing to push the stock up.
Similarly, a lot of large orders flowed out of Dongfang Wealth's collective bidding. The market crash by the three institutions on the Dragon and Tiger List last week still had a certain influence.
Dongfang Wealth, which is crowded with public funds, is not afraid of continuous daily limit increases even by top speculators. Last week, three institutions appeared on the Dragon and Tiger list for selling, which was a warning.
Today, Tonghuashun and Dongfang Wealth are still jointly watching the market. In recent trading days, the trends of these two stocks have been extremely synchronized. The advantage of watching the two stocks at the same time is that no matter which one moves first, it can be dealt with in a timely manner.
Today, the two stocks still have the same trend; both briefly surged at the opening, and then quickly fell back. Dongfang Wealth traded nearly 40,000 lots in one minute, and Tonghuashun also increased its volume to around 10,000 lots.
"There are not many big orders, but there are still quite a few medium orders; it seems that there is still a process of rising." I have been watching Tong Huashun's intraday trends for several consecutive trading days.
Therefore, Gu Junhao was quite familiar with Tong Huashun's trading quotes. The approximately 5,000 lots traded in the call auction were most likely traded by some hot money or small institutions.
At the opening today, after a large increase in trading volume, Tonghuashun seemed to have returned to the time period when the main funds had no intention of pushing up the market and were only trying to maintain the market.
At 9:37, Tong Huashun and Dongfang Wealth both opened high and closed low, and their stock prices turned green. During these seven minutes, in addition to the continuous buying by mid-level orders, there were occasional sell orders of about 500 lots on the market to suppress the stock price.
Tong Huashun, which turned green, welcomed a wave of large-scale buying orders of less than 100 lots; within just one minute, Tong Huashun turned red again.
"The retail investors who are looking for bargain hunting are here." Gu Junhao said with a smile while looking at the market.
This is how retail investors are. Whenever a hot stock rises and then falls, they can't help but rush in to buy at the bottom, trying to make a big intraday move.
No matter how deep the decline is, they dare to enter the market; earning more than ten points of profit in a trading day, or even the ceiling, is what they pursue.
As for the pullback on the second day, that is not within the scope of concern. The famous Tibetan Mastiff seat in the previous life came about in this way. A business department opened an account among a large number of retail investors.
Whenever the Tibetan Mastiff appears on the Dragon and Tiger list, its performance on the second day is generally not very ideal and its stock price fluctuates particularly well.
Of course, when the Tibetan Mastiff farm became famous, it is not ruled out that some hot money or individual investors opened accounts in the business department in an attempt to fish in troubled waters.
The trend of Dongfang Wealth is exactly the same as that of Tonghuashun. It also turned green briefly and then was pulled up instantly. From the time-sharing chart, both stocks showed a small V-shaped trend.
Compared with Dongfang Wealth, Tonghuashun is easier to pull up due to its relatively small market cap. This wave of buying quickly pushed Tonghuashun above 24.90 yuan, and the stock price once again went straight to 25 yuan.
“Alas, it’s all individual orders, so I can’t sell much even if I want to; I still have to wait.” Having missed the call auction, Gu Junhao had no choice but to wait in the ten minutes of trading in the morning because the volume was too small.
At 9:47, after retail investors had poured in for nearly ten minutes, the first buy order of more than 500 lots finally appeared during Tonghuashun’s official trading period.
At this time, Tonghuashun was priced at 25 yuan, which was 0.05 yuan away from the opening price. Dongfang Fortune was even stronger, and it rose above the opening price.
"I've finally waited for it." Gu Junhao sighed.
One minute later, Tong Huashun returned to above the opening price, and the daily K-line turned into a red cross star again.
At 9:49, a trading volume of nearly 2,000 lots pushed Tonghuashun’s price to 25.40 yuan. After a brief pause, Tonghuashun’s stock price rose again.
At 9:50, Dongfang Wealth reported 14.12 yuan, with a daily increase of nearly 5%, ahead of Tonghuashun.
However, Gu Junhao was not in a hurry. It would be easier for Tong Huashun to push up the price. Three minutes later, Tong Huashun finally began to react and the market started to move abnormally.
"Here it comes. It seems that there is hope for the rights issue today." Looking at the appearance of large orders at the thousand-hand level, Gu Junhao smiled.
Generally speaking, the stock price is at its highest around ten o'clock in the morning. For those who want to sell, they can often get a good price during this period.
Of course, this is not absolute. There are also many stocks that continue to rise or even hit the daily limit after ten o'clock. As for whether they rise and fall or continue to rise, this needs to be analyzed based on the specific volume.
During the early trading period of Tonghuashun, the volume did not increase, and it even decreased compared with the first half hour of yesterday. This kind of shrinking volume and rising situation is very likely to lead to a decline.
In addition, Gu Junhao's operation plan today is to reduce positions near the ex-rights price. Even if the stock price really reaches the daily limit, he will still do so. What's more, today's index performance is really average.
In the morning half hour, both the Shanghai Composite Index, which opened high, and the ChiNext Index, which opened low, fell after a brief fluctuation. The Shanghai Composite Index, which has been fluctuating at a high level for a week, is more like a dangerous signal today.
If the high-level consolidation cannot be broken through, then adjustments will inevitably occur. This is an unchanging principle.
For individual stocks that are closely related to the index, such as Tong Huashun and Dong Fang Wealth, if they feel the crisis of adjustment, the most correct approach is to reduce positions and wait for the next opportunity to rise.
At 9:55, Tonghuashun reported a price of 25.99 yuan, which was getting closer and closer to Gu Junhao's target price. Gu Junhao was also ready.
Today, the Tong Huashun account has a total of 15,650 lots. Excluding the pledged shares, more than 10,000 lots can be used. Of course, Gu Junhao will not sell all of them.
There is a limit to doing T. It is impossible to sell all of such a large position within one day, unless there is a volume like Dongfang Wealth.
If the volume increases a lot today, then sell more; otherwise, sell less.
At 10 o'clock, a buy order of 1,380 lots led Tonghuashun to the price of 26.60 yuan, an intraday increase of 8.72%. During the same period, Dongfang Wealth reported 14.24 yuan, an increase of 6.02%.
When the stock price reached 26.60 yuan, Gu Junhao started to sell. Due to the small volume, Gu Junhao could only sell by placing orders in batches.
This time, Gu Junhao placed orders for a total of 3,650 lots. It would be a big profit if he could sell them above the price of 26 yuan, so the price of the orders was also set at 26 yuan.
There are still 12,000 lots left in hand, and I don’t plan to move them anymore. If all the orders today can be executed above the price of 26 yuan.
Then the funds returned today will exceed 9.5 million, close to 10 million. Combined with several T transactions in the past two months, Tong Huashun's holding cost is close to only 4 million.
What else could you not be satisfied with if you exchange 4 million yuan for 12,000 chips?
At 10:01, Tonghuashun briefly surged to 26.70 yuan, and then the stock price began to fall rapidly. The main force of capital is really obsessive-compulsive, and 26.70 yuan is exactly the price for filling the rights.
"He really just ran away after filling out the rights. Is this obsessive-compulsive disorder?"
At this time, Dongfang Fortune also fell back, with its stock price reaching a daily high of 14.34 yuan. Compared with the decline of Tonghuashun, the decline of Dongfang Fortune seemed much slower.
This is the advantage of stocks with large trading volumes. As long as there are still differences between the bulls and bears in the market within a short period of time, there is no need to worry about not being able to escape. This is the reason why Tong Huashun fell back so quickly.
It may not have nothing to do with Gu Junhao, although the shipments are made in batches; but the market value is actually close to 10 million yuan. For Tong Huashun, which can pull a few points with more than 1,000 lots, the impact is still not small.
Tong Huashun, who had risen and then fallen, was also quickly digesting Gu Junhao's chips. The process was relatively long. It took a full 14 minutes for Gu Junhao's chips to be completely sold out.
At 10:15, Tong Huashun was priced at 25.99 yuan, falling below the 26 yuan mark again. 3,650 lots of Tong Huashun were sold at an average price of 26.10 yuan, with a total of 9.5265 million yuan in funds recovered.
Adding the remaining funds on the account last time, the total was 9.53 million yuan. Gu Junhao was quite satisfied that he had enough liquid cash in a short period of time.
Dongfang Wealth and Tong Huashun both plunged from high platforms. Stocks related to the Internet finance concept sector fell collectively. At the same time, some other high-priced stocks also fell.
This also caused the ChiNext Index to accelerate its downward volatility, while the Shanghai Composite Index continued to maintain a slow downward trend and weights continued to diverge.
Brokerage stocks fell sharply today, but the corresponding banking, insurance and other sectors performed relatively well, which is why the Shanghai Composite Index did not fall much.
Due to the decline of the securities sector and the need for its own adjustments, Xibu Securities performed poorly today, falling nearly 1% in early trading. Wan'an Technology was also as sluggish as ever.
However, Yin Zhijie has been fluctuating upward after opening flat today. It has now risen to around 18 yuan, which is a somewhat unexpected performance.
However, with the accelerated decline of the ChiNext Index, Yinzhijie also began to slowly fall back below the intraday yellow moving average.
However, this is understandable. Yinzhijie's previous highs were all around 18.50 yuan, and Yinzhijie hit 18.30 yuan in early trading today.
This price is undoubtedly a relief for ordinary investors who have been trapped in Yinzhijie for more than two months during the period of the ChiNext's big rebound.
Others are making a fortune, while I am just about to get out of the predicament. This kind of psychological torture is very painful.
"It's an opportunity, what a pity, otherwise Tong Huashun, who just reduced his holdings, could have bought back." Gu Junhao sighed, it was still limited by the fund's holdings.
In Gu Junhao's opinion, Yinzhijie, which was affected by the decline of the ChiNext Index, is indeed a good buying opportunity. High-priced stocks have plunged and fluctuated.
However, stocks like Yinzhijie, which have been adjusted for several months and whose K-line trends are becoming more and more beautiful, have a demand for rebound and compensatory growth, if they are not restricted by position holdings.
The funds just sold by Tonghuashun can be used to enter Yinzhijie, completing a high-low switch.
At 10:30, Tonghuashun's stock price had fallen to the daily average price. After fluctuating for two minutes, it started a rapid downward mode again.
A sell order of 1,200 lots pushed Tonghuashun's share price down to 24.95 yuan, and the share price fell below the opening price again. In terms of the amount of funds, Tonghuashun's funds outflowed a lot in the half hour of the surge and fall.
Today, the main funds are still continuing the old routine, using small amounts of funds to quickly pull up the price, and then using the decline process to speed up shipments. Institutions also need to do T.
Dongfang Wealth is also like Tonghuashun. The time-sharing charts of these two stocks today can be described as a pair of twins. Except for the difference of a few minutes in time, the trends are exactly the same.
The same trend of the two stocks, coupled with the sluggish performance of the three major indexes, fully verified Gu Junhao's judgment, and Yin Zhijie's unusual performance made Gu Junhao aware of a new possibility.
That is, small and medium-sized enterprises still have opportunities under benign adjustments; weighted stocks are obviously not a good choice, as weighted stocks generally take a longer time to adjust.
But small and medium-sized start-ups are different. They have a small market cap, a small market value, and can rise quickly. It is not surprising that funds coming out of high-weight stocks target some low-priced small and medium-sized start-up stocks with good concepts.
What's more, small and medium-sized enterprises are the favorites of hot money. With the participation of some of these active funds, the trend will naturally be different. In the early stage, Yinzhijie had some genes of a monster stock. Once the rebound is established, it is bound to reawaken the market's memory.
However, this operation can only be done when the market is in a benign adjustment; when systemic risks appear in the market, it is still necessary to evacuate as soon as possible.
At the midday close, Tonghuashun fell below 25 yuan. After a small rebound for nearly an hour, it finally returned to above the intraday average price line, closing at 25.60 yuan, up 5.05%.
Dongfang Wealth reported 13.88 yuan, up 3.12%. The morning's trading volume exceeded the full-day volume on Friday's daily limit, breaking through the 1 billion yuan mark.
Despite the release of such a large volume, the stock price trend is very unsatisfactory. The trend of Dongfang Wealth today is worrying. I don’t know whether Wang Ruoyu has reduced his holdings.
He had been reminded before that he could be bolder in his recent operations, and his operations have indeed been quite bold. Last Friday, the market value of Dongfang Wealth was more than 16.8 million yuan.
"I hope he will be as bold today." With a market value of nearly 17 million, there was a fluctuation space of more than 5 points in the morning, and the trading volume exceeded 1 billion yuan. There are not many such opportunities.
Unlike some big players in later generations who could push the price limit up unscrupulously, the average daily trading volume of the ChiNext is only between 20 billion and 30 billion.
Dongfang Wealth's trading volume in the morning has already accounted for a considerable share of the ChiNext, and it is also a constituent stock. This large-scale surge and fall is also a kind of suppression on the index.
"Boss, it's time to eat. Stop staring at the computer and give your eyes a rest." Li Xinyu pushed the door open with a lunch box and shouted to Gu Junhao.
"Oh, okay."
In the afternoon, trading continued; since the Tong Huashun operation plan had been completed, Gu Junhao focused his main energy on Dongfang Wealth in the afternoon.
Today's large-volume surge is still relatively dangerous. Once it cannot be recovered, there may be an adjustment period of several consecutive days or even more than a month.
The patience of public funds is far beyond the reach of ordinary hot money; at the beginning of the market, Dongfang Wealth was hit by a large purple order that smashed the market.
However, compared with the morning opening with thousands or tens of thousands of shares being dumped, the volume in the afternoon was much smaller. It is estimated that the hot money on Friday has almost all fled.
The huge sell order of 31,880 lots that started at 9:30 was probably the result of a Zhejiang tycoon reducing his holdings on Friday; the language used in the market was also very interesting.
So, you can envy the operations of hot money, but you cannot worship them and follow them blindly; like most big funds, they are ultimately just a group of predators.
And ordinary investors are their food.
However, the top speculators reacted very quickly. After the joint selling by institutional seats on Friday, they quickly reduced their positions in large quantities in the morning trading today, and escaped before the institutions.
Judging from the selling price, the company should have made a profit of around 2% to 3%, which can be considered as cutting a piece of meat from a large institution.
Dongfang Wealth fell below the daily average price line again, leading the ChiNext Index downward.
The ChiNext Index has fallen by 1%, creating the largest drop in recent times, while the Shanghai Composite Index remains in the red.
Although the market is still not lacking in money-making effects, risks often come unknowingly in this process; at two o'clock, the ChiNext Index plunged, and the decline reached 1.5% in a short period of time.
Dongfang Fortune and Tonghuashun, both stocks, were below their intraday average prices throughout the afternoon trading period, and their trading volume also increased significantly compared to the afternoon.
Of course, this kind of volume is not bullish volume, but bearish volume. At the same time, Yinzhijie rose against the market trend, and its stock price once again reached a high of 18.34 yuan, an increase of more than 5%.
"Hey, it really started." Gu Junhao was attracted by the unusual movement reminder. This wave of pull-up also had a large volume. Judging from the trading volume, Yin Zhijie had exceeded 100 million today.
"It's not easy, the volume finally comes." At the same time, Xu Jianqing in the trading room also sighed, it seemed like the boss's mouth was really blessed.
It is said that Yinzhijie is about to be launched, and the volume has increased today. The transaction volume in the previous week was only about 200 million yuan, and today's volume is estimated to be close to that.
"Haha, today the big speculator Xu came to the rescue." Liu Tingting said with a smile. This morning, Xu Jianqing found that Yinzhijie's trading volume was still good and the stock price was rising slowly.
This can be regarded as what the boss said about the increase in both volume and price, so when the market fell back, Xu Jianqing also tentatively transferred the remaining 2.5 million funds slowly into Yin Zhijie.
At this point, the return on the 2.5 million yuan of funds has exceeded 2%, and this is exactly what Liu Tingting was talking about.
All this is because Wan'an Technology and Xibu Securities remained in a depressed state throughout the day, while Dongfang Wealth rose and then fell. It seems a bit difficult to recover them at the moment.
Dongfang Wealth is still in a state of large-scale decline at the moment. Looking at Wang Ruoyu's expression, it is clear that the market situation is not optimistic.
At 14:15, Yinzhijie continued to rise with large volume, and the stock price closed at 18.79 yuan, setting a new high since the ex-rights date. It was followed by a 15-minute downward adjustment with small volume.
At 14:25, Dongfang Wealth began to fall rapidly. The stock price had been falling step by step since 14:00 with large volume. At this time, the speed had obviously accelerated.
The trading quotation of Yinzhijie suddenly changed. With the influx of a buy order of 3,000 lots, the stock price of Yinzhijie, which was in a volatile period, was quickly pulled up to 18.98 yuan.
The price of 19 yuan could not stop Yin Zhijie. As large buy orders continued to come out, Yin Zhijie was quickly pulled up to 19.20 yuan, a daily increase of 10.03%.
At this time, only 15 minutes had passed since Yinzhijie started to rise. At 14:30, Yinzhijie placed a limit of 30,000 lots at the price of 19.20 yuan, with a limit fund of over 60 million yuan.
Two minutes later, the limit order not only did not decrease, but continued to increase; with the increase in the limit order and the decrease in the sell order, the trend of Yin Zhijie's limit order gradually took shape.
Yinzhijie closed the board, while Dongfang Fortune and Tonghuashun fell below the opening price again. At 14:40, Tonghuashun was at 24.90 yuan and Dongfang Fortune was at 13.45 yuan.
The share price of Dongfang Fortune turned green again, which also caused panic among some funds. With the appearance of purple sell orders, the share price of Dongfang Fortune fell step by step.
During the last 20 minutes of trading, large orders continued to appear. At the closing stage, Dongfang Wealth reported 13.31 yuan, down 1.11%.
Dongfang Wealth has set several records today since the ex-rights date, including a new high of 14.34 yuan, a daily turnover rate of 14.69% and a record transaction volume of 1.85 billion yuan.
The daily trading volume of the ChiNext Index today was only 35.6 billion yuan, and one stock, Dongfang Fortune, accounted for more than 5% of the total; this also invisibly accelerated the decline of the ChiNext Index today.
The ChiNext Index fell 1.23% today. Relatively speaking, the Shanghai Composite Index's drop of 0.51% was much smaller. However, many high-priced stocks fell back today.
However, theme stocks such as Yinzhijie, which had ended their low-level consolidation and had strong conceptual support, went against the market trend and finally closed at the daily limit. In the process of the index falling, the market seemed to have completed the high-low switch.
