Chapter 204: Earning Index but Not Making Money
Tuesday, September 2nd.
After the morning call auction ended, the Shanghai Composite Index opened at 2239.68 points and the ChiNext Index opened at 1465.03 points. Following yesterday, the three major indexes jumped upward again today.
The three major indexes opened higher for two consecutive days; such behavior seems to indicate the impatience of off-market funds. Is the bullish voice of a certain society over the weekend so powerful?
It is said that the A-share market is a policy market, and such behavior seems to verify this point.
In the trading room, the four of us looked at each other; even Gu Junhao was a little stunned. It seemed that there was no such thing as an upward gap for two consecutive trading days?
Of course, it is also possible that I remembered it wrongly. After all, it has been many years. However, I have not seen such a trend in the few years before my rebirth.
"This market situation is somewhat abnormal." After a long while, Xu Jianqing complained. Who could have thought that last week's continuous sharp decline would be followed by two gap-up openings this week.
The behavior of the index is not very obvious in individual stocks; among the stocks held, except for Wan'an Technology, which jumped up and opened at 12.83 yuan, up 1.10%.
Xibu Securities and Yinzhijie both opened only one cent higher, Dongfang Fortune even opened lower, and Tonghuashun's opening higher was not particularly large.
He looked at the opening trends of some other popular stocks in the market, and saw mixed gains and losses. Gu Junhao then said to the three people, "It looks like there will be a split today. It is highly likely that there will not be a general rise like yesterday."
"Boss, is Wan'an Technology fake?" Xu Jianqing asked Gu Junhao. He had just said yesterday that the reduction of Wan'an Technology would be left to him, but he didn't expect that it would open higher today.
"It should be fake, driven up by the market. There are only about 100 lots in total." Gu Junhao nodded, and then said: "If the volume increases later today, you can sell some first. If not, forget it."
At 9:30, trading officially began; compared with yesterday's consistency, the volatility of the three major indexes at the opening today was significantly intensified, the performance of heavyweight stocks in the morning was average, and stimulated by favorable policies, the sports concept sector exploded.
After the opening, Wan'an Technology was directly pushed into the red market by a sell order of 127 lots, and the price was reported at 12.63 yuan. The trading volume was still sluggish. A sell order of more than 100,000 yuan was enough for Wan'an Technology to fill the gap.
From this point, it can also be seen that the high opening in the early trading session is nothing more than the behavior of ordinary retail investors chasing high prices.
After the opening, as the index fluctuated, Junshi No. 1 Fund's holdings performed extremely averagely. Except for a small increase in Xibu Securities, the other three stocks only fluctuated around the flat price.
Tonghuashun, a personal stock holding that opened high in the morning, started to fall as soon as it opened, just like Wan'an Technology. There was no way, as several stocks were not hot today.
It is impossible for off-market funds to attack from all sides forever. After a certain period of time, differentiation of individual stocks is inevitable.
Gu Junhao's task for himself today is to keep an eye on the intraday trend of Wan'an Technology. Although the high opening of Wan'an Technology's bidding is the behavior of retail investors, it is not impossible to take advantage of it.
The A-share market is mostly populated by retail investors, and there are quite a few of them for each stock. When the enthusiasm of retail investors is mobilized, the trading volume can still increase even if the main funds still do not take action.
For Gu Junhao, there is essentially no difference between selling to retail investors and selling to major funds; the ultimate goal is to complete his own plan to reduce holdings.
Wan'an Technology's stock price fluctuated up and down, occasionally reversing back and forth before turning red and green, and the number of buy and sell orders of more than 100 lots on the trading page gradually increased.
At 9:52, Wan'an Technology's trading volume exceeded 600 lots in a short period of time. 600 lots is not a lot, but for Wan'an Technology, it is already a small increase in volume.
"It looks like we can sell a little today." Gu Junhao said with a smile.
Wan'an Technology's volume increased briefly, and then turned green again. After , at ten o'clock in the morning, Wan'an Technology turned red again, and the stock price started a gradual upward trend.
After half an hour of trading, most individual stocks and indexes gradually stabilized, the Shanghai Composite Index also began to slowly rise, and brokerage firms that had been adjusting for many days began to exert their strength.
Xibu Securities was also affected by the sector and rose by more than 1%; however, this is also the only stock among the four current holdings that has risen by more than 1%.
"It's already ten o'clock. It looks like today is not our home game, haha." Gu Junhao sighed.
In addition to the heavyweight stocks, the concept sectors that rose today include sports, military industry, Tianjin Free Trade Zone and other sectors.
Gu Junhao has not participated in any of these; Gu Junhao personally does not like the military industry. Some other sectors are not large enough, and the related concept stocks are too complicated, and a lot of them have poor performance.
Gu Junhao was unwilling to invest in such small concept stocks with poor performance, even for short-term investment.
Stock investment should still choose to follow the mainstream market and select individual stocks with better performance or leading companies in some popular sectors with large amounts of capital.
Currently, Junshi No. 1’s holdings all have certain performance guarantees.
There is no need to say much about Dongfang Wealth and Xibu Securities. Wan'an Technology is also currently at the point of performance explosion.
Although Yinzhijie expected a loss in the first half of the year, his expectations were too strong, and the loss in the first half of the year was more like an act of confusing the market.
Looking at the actual data, Yinzhijie may usher in a period of explosive performance in the second half of the year.
That's what growth stocks are like. As long as you choose the right timing, the returns may exceed your expectations.
For example, Zhongqingbao and Wangsu Technology, which caught the trend in 2013.
There will be many such stocks in the future, but once these stocks have passed their growth stage, it will no longer make sense to buy them.
Potential stocks mean buying them before you have the greatest potential. It is almost impossible to make high returns after the potential period.
At 10:30, the three major indexes that had been fluctuating upward approached their highs and began to pull back; Wan'an Technology, which had been unable to break through the opening price, also began to adjust downward along with the index.
"It seems that there is still some disagreement in funds this morning." Wang Ruoyu, who had been silent for the whole morning, suddenly said.
"That's normal. Although everyone is bullish, their bullish views are different."
The morning's trading did not belong to Junshi No. 1. The four stocks performed flatly and Gu Junhao did not issue any instructions.
In the afternoon, trading continued; the market, which had been moving sideways in the morning, suddenly began to gain momentum, and the index quickly broke away from the morning high, setting a new high for the year at 2248.90 points.
"Hey, the Shanghai Stock Exchange is starting to gain momentum."
For Gu Junshi, although today is a day in which he has not made much money from the index so far, he still feels a little emotional when he sees the Shanghai Composite Index hit a new high for the year.
Eight months have passed in 2014. During these eight months, the index has fallen below 2,000 points and reached a new high as today. I don't know how many people have made money and how many have lost money.
Although the Shanghai Composite Index has continued to set new highs this year, the market's profitability is not as good as last year. This is all due to the sharp correction of the ChiNext Index.
Compared with the unilateral upward trend of the ChiNext Index last year, this year the ChiNext Index has not broken through the previous high after hitting a high of 1571.40 on February 25, half a year has passed.
Although the ChiNext Index has rebounded to above 1,400 points, I believe that most people are still losing money due to the several deep corrections.
Today, the ChiNext Index was significantly weaker than the Shanghai Composite Index, and even turned slightly green before midday; however, with the afternoon's rally, the ChiNext Index slowly returned to above the daily moving average.
The continuous rise of the index brought about a money-making effect; although individual stocks rose and fell differently, most of them were in the red. At 13:45, Wan'an Technology's trading volume increased again.
For the first time in several consecutive trading days, Wan'an Technology had more than 400 buy orders, and these 400 orders also brought Wan'an Technology back to the opening price.
The K-line is finally no longer a green cross K. At this time, Wan'an Technology's trading volume has exceeded yesterday's full-day trading volume, approaching 30 million yuan.
"Xiao Xu, pay attention and keep an eye on it; prepare to sell some of Wan'an Technology." While the volume was still acceptable, Gu Junhao also decided to reduce his holdings in Wan'an Technology in advance.
"Okay, I'm watching." Yin Zhijie's performance was average today. Starting from the afternoon, Xu Jianqing's attention gradually shifted to Wan'an Technology.
Glancing at Xu Jianqing and seeing him staring at the board seriously, Gu Junhao couldn't help but think: "This is what a fund manager looks like, issuing instructions and the traders start trading, haha."
At this time, Xu Jianqing was staring intently at the trading quotation of Wan'an Technology. The boss did not say how much he sold, and it would not have much impact on the stock price or disrupt the trend.
At 14:49, Wan'an Technology was still priced at 12.83 yuan, and various buy orders appeared on the market from time to time. Seeing this, Xu Jianqing decided to test it first.
“Try placing an order at 12.80 yuan for 500 lots and see if you can hold it.” Xu Jianqing immediately placed the order.
Two minutes later, 500 sell orders were successfully executed, and the stock price of Wan'an Technology did not change much, at 12.79 yuan.
"Boss, the buying is pretty good. We should be able to sell a lot in the afternoon." Xu Jianqing shouted happily to Gu Junhao.
"Did you place the 500 orders just now?" Gu Junhao asked. Although he did not have to trade himself, Gu Junhao, like Xu Jianqing, had been keeping an eye on the trading quotation of Wan'an Technology.
"Yes, I tried it to see how many orders were accepted. I didn't expect that the transaction was completed in 2 minutes." Xu Jianqing replied.
"Not bad, you are acting like a trader now. You are not placing orders blindly. Keep it up."
The indices of the two markets have entered a carnival stage, so it is natural that the buying of Wan'an Technology has increased. Not only Wan'an Technology, but also some other stocks that have not risen much today have also received buying orders.
Funds that have missed out on opportunities urgently need an outlet. They dare not chase after stocks that have risen too much, and can only look for opportunities among low-priced stocks and try to make a profit.
Xu Jianqing continued to look at the market. Wan'an Technology returned to its opening price and slowly fell back and adjusted. The range was very small and finally stopped above the daily average price.
At 14:15, a buy order of 983 lots appeared on the quotation of Wan'an Technology, and the stock price quickly rose from the average price to 12.86 yuan.
"A large order was placed at the end of the trading day. The main funds are causing trouble again." Gu Junhao said with a smile. 983 lots were most likely the work of the main funds.
Although there were large orders, the share price of Wan'an Technology remained unchanged, fluctuating between a few cents. At 14:28, 636 buy orders came in again, and the share price of Wan'an Technology only closed at 12.88 yuan.
Seeing this, Xu Jianqing no longer hesitated and started selling in batches of 100 and 200 lots. He only had 30 minutes left.
Under Xu Jianqing's continuous selling, the time came to 14:45, with only 15 minutes left before closing, and Wan'an Technology's highest price was 12.90 yuan.
A sell order of 442 lots came out, pushing the stock price to 12.87 yuan. This was Xu Jianqing's order. In addition to two large orders leading the way in the closing of the market, Wan'an Technology also had two large orders.
The rest of the orders were relatively small. In order to facilitate selling, Xu Jianqing did not place any sell orders above 500. This order was the largest transaction so far.
At 15:00, Wan'an Technology closed at 12.86 yuan, with a daily turnover of 46.16 million yuan, twice as much as yesterday; and in the last hour of trading, Wan'an Technology's turnover exceeded 15 million yuan.
At today's close, the two markets fluctuated higher, with the Shanghai Composite Index surging 1.37%, forming a bald positive trend, and finally closing at 2266.05 points, which is also the highest point of the year so far.
The ChiNext Index also rose quite well in the afternoon, reaching as much as 1% at one point, and finally closed at 1465.03 points, up 0.84%.
Today, the Shanghai Composite Index reached 170 billion yuan, and the ChiNext Board also reached 39 billion yuan. A perfect trend of rising volume and price.
Junshi No. 1 performed generally today. The stock with the largest increase was Xibu Securities, which rose 1.87% to 11.96 yuan, while the stock with the largest increase was Wan'an Technology, which rose 1.34%.
Yinzhijie and Dongfang Wealth, which surged yesterday, rose 0.25% and 0.60% respectively, perfectly underperforming the two market indices.
"How much did you sell?" Gu Junhao asked Xu Jianqing after the market closed.
"1,600 lots, that's okay, right?" Wan'an Technology's trading volume was close to one-third of the daily volume within the last hour. In addition to the initial trial of 500 lots, Xu Jianqing sold 1,100 lots in the next half hour.
This also includes a transaction in the final call auction, with an average transaction price of 12.84 yuan and a capital recovery of 2.0545 million yuan.
"Not bad, very good." This kind of concentrated explosion in a period of time is quite easy to sell. However, with more than 2 million sold, the transaction volume has exceeded 10%. I don't know if it has been discovered.
But there is no need to worry about it. Even if it is discovered by the main funds, it will not attract much attention. After all, the volume is only more than 2 million yuan.
If the main force of a stock keeps staring at the more than 2 million yuan sold in a short period of time and does not let go, it is destined to not go far.
…
September 3, Wednesday; the Shanghai Composite Index closed at 2268.40 points, and the ChiNext Index closed at 1468.09 points; the three major indexes jumped upward for the third time in three weeks.
For retail investors, the upward gap-filling on the first day will cause a certain amount of panic, while they will start to buy tentatively on the second trading day.
Especially yesterday afternoon, and today, investors' response was even more enthusiastic than yesterday.
Calls for a bull market are everywhere. Gu Junhao looked through major social media apps and saw topics about the stock market everywhere.
Since then, even during the bull market of GEM last year, Gu Junhao has never seen investors so enthusiastic.
"Sure enough, it's the motherboard that drives the emotions."
The influence of the main board is unmatched by that of the Growth Enterprise Market, and the participation of the two major official media makes it even more exciting.
This sentiment is passed on to every investor, followed by a continuous inflow of off-market funds and a continuous rise in stock indexes.
However, the three people in the trading room except Gu Junhao seemed a little disappointed.
Yesterday, Junshi No. 1 only earned an index.
At today's opening, the performance of the four holdings was the same as yesterday, and only Wan'an Technology opened 0.04 yuan higher.
Xibu Securities opened flat, Dongfang Wealth and Yinzhijie opened lower.
Gu Junhao looked at everyone's expressions and laughed secretly. He was indeed still a newbie. It was only the second day and his performance was average, but he couldn't help himself.
In a big market, funds often attack the heavyweight stocks. For ordinary investors holding small and medium-sized start-ups, it is normal to make money from the index but not from the stocks themselves.
However, this is already the second day, so we still need to pay attention.
Yinzhijie and Wan'an Technology are small-cap stocks, so the rise is generally understandable, as Xibu Securities has the support of the brokerage index. However, Dongfang Wealth is a GEM constituent stock and is also considered one of the weighted stocks. If it cannot outperform the index, it should be noted.
In addition, Tong Huashun actually closed with a false negative line yesterday, and the increase was only 0.08%. All this was enough to attract Gu Junhao's attention.
"Okay, stop looking so gloomy and just pay attention."
Today is still the day of the main board. The Shanghai Composite Index, which had jumped up for three consecutive days, did not choose to pull back today. It rose as soon as it opened. At 9:31, the stock index was at 2270 points.
The performance of the ChiNext is just like that of the main board. It has been moving upward since the opening. Today, Gu Junhao will focus on Dongfang Wealth. To some extent, Dongfang Wealth's performance today also represents the attitude of some public funds.
Whether Dongfang Wealth, which is home to many public funds, chooses to follow the index's rise or to adjust within a narrow range like yesterday, this indicates certain problems.
As for Wan'an Technology, just leave it to Xu Jianqing to keep an eye on it. Anyway, he is eager to have a clash with the main players in the field.
Dongfang Fortune opened low and was hit by four thousand-hand sell orders at the opening. The stock price quickly fell to 13.28 yuan, which was only 0.1 yuan away from the five-day line.
At 9:37, Dongfang Wealth ended its seven-minute green trading period and its stock price turned red again; at this time, the Shanghai Composite Index had broken through 2270 points and the ChiNext Index had also risen to 1460 points.
"It seems that the funds in the market are still relatively cautious." Gu Junhao sighed, and then said to Wang Ruoyu: "We can do T if there is a chance."
In the first two trading days of this week, except for a small reduction in holdings of Wan'an Technology yesterday, the other three stocks all chose to remain in a zero trading state.
As the index continues to rise, there is no doubt about other stocks. Even if the main force in the market, Dongfang Wealth, chooses to wait and see, it will be driven by the market just like Wan'an Technology yesterday.
In fact, I dare not say anything about the stocks that have little correlation with the index, but the probability of Dongfang Wealth rising today is still very high.
After receiving Gu Junhao's instructions, Wang Ruoyu did not talk a lot like Xu Jianqing. He just nodded, adjusted his body posture, and officially entered the stage of watching the market.
At 9:40, Dongfang Wealth's stock price rose from 13.48 yuan to 13.64 yuan. Seeing this, Gu Junhao no longer needed to pay attention to him.
It was basically consistent with my own judgment. As for Wang Ruoyu, I didn't need to remind him all the time like Xu Jianqing did to prevent him from going astray .
Compared with Dongfang Wealth, Tonghuashun's trend is weaker. Tonghuashun, which opened high yesterday, still has a process of breaking through, and its stock price has risen to a maximum of 25.46 yuan.
But Tonghuashun opened high today, and its opening price was the highest position. After opening, the stock price fluctuated downward. Near ten o'clock, Tonghuashun fell to 24.87 yuan, a drop of 0.74%.
In the two days when the index soared, Tonghuashun completely lost the dominance of the bull stock in the past, and the amplitude yesterday was only more than three points.
“This is the choice of big money.”
From Tong Huashun, Dongfang Wealth, and Yin Zhijie, Gu Junhao saw the cautious attitude of big funds. However, the current trends of these three stocks are still healthy, and the trading volume has not shrunk significantly.
So it is still relatively safe for the time being. At least there should be no problem today. After all, with the index continuing to rise like this, the decline is unlikely to be too large.
Compared with yesterday, the differentiation between the two markets today is more serious. With the continuous inflow of funds into the heavyweight stocks, the number of small and medium-sized growth stocks that have fallen has also increased significantly.
Wan'an Technology, which had a small increase in volume yesterday, did not repeat yesterday's trend today. Although it also opened high, Wan'an Technology fell as soon as it opened. At 10:30, there was still no upward trend.
Xibu Securities and Yinzhijie were also moving sideways. Xu Jianqing returned to the days when he didn't need to trade. After a happy day, he lost the trading opportunity again.
Xu Jianqing seemed a little depressed. As for Liu Tingting, the amplitude of Xibu Securities was less than 0.2 yuan, except that the trading volume increased a little and the position was higher than the beginning of the position.
It seems that nothing is different from before.
If a stock with this kind of trend were to be traded by someone like Xu Jianqing who loves trading, he might go crazy at any time; but Liu Tingting's mentality is just right for it.
Liu Tingting has no performance pressure, and she is careful and patient, so Xibu Securities is a perfect match for her.
When the opportunity comes, do some swing trading and earn some results. If there is no opportunity, it is also comfortable to just lie down and get paid.
The indices of both markets were very strong in the morning, and in the afternoon, there was no change and they continued to move upward; throughout the day, the Shanghai Composite Index continued to increase in volume to 187.6 billion yuan, and the ChiNext Index also increased in volume to 43.82 billion yuan.
As the two markets increased in volume, it welcomed the third big rally day in September. The Shanghai Composite Index surged 1% to close at 2288.63 points, heading towards 2300 points.
The ChiNext Index also reached 1477.67 points, up 0.86%, less than 23 points away from the 1500-point mark.
Junshi No. 1 underperformed the index for the second consecutive trading day. The fund with the highest increase in holdings today was Dongfang Wealth, which only rose by 0.89% while its trading volume increased to 768 million yuan, barely outperforming the ChiNext Index.
The performance of the other three was even worse, with Yinzhijie rising 0.05%, Xibu Securities falling 0.08%, and Wan'an Technology falling 0.86%.
"Dongfang Wealth's volume has been stagnant, so we still need to be careful." After the after-market meeting, Gu Junhao said to the three people.
