Chapter 209: Observation of Trading Techniques
At 9:52, the ChiNext fell to 1479.20 points, a drop of more than 0.7%, and a correction of more than 1%. In less than half an hour, an extremely eye-catching downward curve on the time-sharing line appeared particularly eye-catching.
At the same time, Yinzhijie's stock price briefly turned positive, closing at 21.89 yuan. However, at this time, a sell order of 220 lots immediately dropped the stock price to 21.80 yuan.
At 9:53, the ChiNext Index, which opened high in the morning and fell rapidly, finally hit the bottom after reaching 1479.06 points. Just like when it was falling, a steep straight line quickly pulled the index up.
A few minutes later, the ChiNext Index quickly rebounded to 1485.75 points, an increase of nearly 0.5%.
"Is it going to be a deep V?" Gu Junhao said to himself while staring at the trading board.
The two markets surged in the first week of this month, keeping investor sentiment extremely high and bullish sentiment remains strong. For some funds that missed the opportunity, the sharp drop in the ChiNext in the morning is a good opportunity to re-enter the market.
At 10 o'clock, the ChiNext Index, which had fluctuated briefly, rose again; the Shanghai Composite Index also set a new high for the year, led by sectors such as steel.
During this period, Yinzhijie always fluctuated around the price of 21.80 yuan, and the trading volume was much smaller than that in the opening stage.
At 10:10, the Shanghai Composite Index began to fall after setting a new high for the year, while the ChiNext Index continued to rebound, approaching the flat point. On the market, theme stocks moved frequently.
At 10:15, the ChiNext Index turned red again, while the Shanghai Composite Index began to turn green. Compared with last Friday, the trend of the Shanghai and Shenzhen stock markets has changed today.
"Okay, stop, don't buy." At this time, Gu Junhao finally spoke and asked Xu Jianqing to stop buying.
At this moment, Yinzhijie is still in the green, with its share price at 21.75 yuan. However, as the ChiNext Index turns red, volatility is bound to intensify, and Yinzhijie's trading volume is gradually shrinking.
For the current size of the fund, this kind of trading volume has missed the best buying opportunity. Buying further will be like chicken ribs and will easily be noticed by the main funds.
However, for ordinary retail investors, it is still a buying opportunity for Yinzhijie. The stock price rebounded after hitting the five-day line and has been fluctuating sideways above the yellow average price of the day for more than half an hour.
The risk of the index has been eliminated, the trading volume of Yinzhijie has gradually declined, and the wash-out is nearing its end. For retail investors with small amounts of capital, it is the right time to buy at this time.
At 10:24, Yinzhijie, which had been fluctuating for nearly an hour, finally responded. The trading volume increased slightly and the stock price quickly rebounded from 21.80 yuan to 22.07 yuan.
As Gu Junhao judged, the ChiNext Index turned red and then experienced intensified volatility. The fluctuation of the index also affected Yinzhijie. Seven minutes later, Yinzhijie turned green again.
"How much have you bought?" Gu Junhao asked Xu Jianqing.
Yin Zhijie turned green again, but it did not affect Gu Junhao's mood. The market trend was in line with Gu Junhao's expectations, and all that was left was to wait.
"1,500 lots, the cost is 21.70 yuan." Xu Jianqing replied. He bought a lot during the period when the trading volume exploded in the early morning. However, as Yin Zhijie's stock price went sideways above its moving average, it became difficult to buy in large quantities.
After rising above the moving average, Xu Jianqing needed a long time to digest each of the 200 buy orders he placed. Fortunately, Yin Zhijie had enough time to adjust.
At 10:40, the ChiNext Index turned positive again, and Yinzhijie followed the index and turned positive for the third time in the morning. Two minutes later, Yinzhijie's share price was 22.18 yuan, setting a new intraday high.
"The plate is so light. It doesn't take too much money to smash it down or pull it up." Gu Junhao couldn't help but sigh as he looked at Yin Zhijie who was becoming popular again.
The price difference is close to 0.4 yuan, and it can be pulled up with a trading volume of less than 800 lots; this is enough to prove that the sharp drop in the early trading session has washed out most of the funds that could be washed out.
It fell sharply, pulled up slowly, and went sideways, and oscillated repeatedly between the red and green areas. Yin Zhijie, who always likes to go against the market, chose to follow the index's pullback today to clean up the market.
At this time, the funds required for a tentative rise are very small, which is enough to prove the degree of control of Yin Zhijie's main funds.
For this kind of stock, whether it will rise or fall, and how much it will rise, it can be said that it all depends on the decision of the main capital. Relatively speaking, Gu Junhao's participation in Yin Zhijie with such a heavy position is also a relatively dangerous behavior.
At 10:45, Yinzhijie rose to 22.50 yuan, with a daily increase of nearly 3%, and the ChiNext Index also returned to near the opening point.
After more than an hour of wash-out in the morning, the main capital of Yinzhijie finally showed his fangs. At 10:50, the ChiNext Index, feeling the pressure of 1493 points, pulled back again.
At this time, Yinzhijie's stock price did not follow the index's pullback as it did in the morning, but instead rose sharply. The stock price was 22.90 yuan at 10:53, up 4.66% on the day.
The transaction price of Yin Zhijie at the price of 22.90 yuan was close to 2 million yuan, which is not high, but for Yin Zhijie, it is definitely not low.
At 10:54, Yinzhijie began to fall, but the falling stock price did not cause any ripples in Gu Junhao's heart. The main funds chose to make a correction below the previous high of 22.95 yuan;
It's nothing more than another high-level fluctuation. This can be seen from the trend of Yin Zhijie in the previous trading days. This is the case for a stock after you are very familiar with it.
In this day and age, there are very few A-shares that are absolutely controlled by market makers, but each stock has main funds that influence its share price. The main funds may be many institutions or hot money.
This is how institutions form groups and hot money joins forces. When the market forms a synergy, everyone pushes up stock prices together, but when differences arise, big funds rush in, which can easily cause stock prices to collapse.
When Yin Zhijie was sold sharply today, there was not much trading volume, and when it was pulled up and pulled back, the volume was even smaller. This also shows that the big funds have not yet formed a disagreement.
At least, that's the case today; of course, Gu Junhao's holdings worth more than 20 million yuan can also be regarded as a major force among Yin Zhijie.
Except when there is a need to do T during the day, Gu Junhao chooses to lock the position continuously. In terms of attitude, it means the same as on-site funds.
During the last forty minutes of trading in the morning, Yinzhijie fluctuated sideways at a high level. At the midday close at 11:30, it closed at 22.32 yuan, up 2.01%.
The ChiNext Index closed at 1490.37 points, and the Shanghai Composite Index remained in the green. Both the Shanghai and Shenzhen indices formed a very small cross negative line.
In the afternoon, Yinzhijie, which had a very high degree of control, continued to maintain high-level fluctuations, and its stock price remained between 22.50 yuan and 22.20 yuan.
Whenever there are a large number of small buy orders, a sell order of more than 300 lots will appear on the trading page in time to suppress the stock price.
The stock price fluctuates at a high level, and the main force has a very high degree of control, which makes many retail investors afraid. The trading volume of Yinzhijie has always been maintained within a low range.
At two o'clock in the afternoon, the ChiNext Index turned green for the fourth time of the day, and the volatility of the index was visible; and at this time, just like the rise in the morning, Yin Zhijie took advantage of the opportunity of the index turning green to quickly pull up.
With a trading volume of over 10 million, Yinzhijie's stock price soared from 22.40 yuan to 23.25 yuan, an intraday increase of more than 6% and a short-term increase of more than 4%.
Yin Zhijie appeared at the top of the five-minute gain list twice today in this way, trying to awaken his memory of the previous monster stocks.
"Sell, place a bigger order." The stock price rose by more than 6% and the trading volume also increased a lot. At this point, Gu Junhao, who maintained his intraday T plan unchanged, naturally would not wait any longer.
Xu Jianqing's reaction was the fastest among the three. Throughout the day, when Gu Junhao did not issue any instructions to him, he was also concentrating on staring at Yin Zhijie's trading quotation.
After receiving the order, Xu Jianqing acted quickly and placed a sell order for 750 lots, which was several levels lower. He also observed the changes in the trading quotation.
The sell order of 750 lots was quickly executed, with an average transaction price of 23.20 yuan. Upon seeing this, Xu Jianqing sold out the remaining 750 lots without hesitation.
The average transaction price this time was much lower, 23 yuan, 1,500 lots of T, and it was completed within one minute. The action was extremely fast.
The selling price was also quite good. The two orders brought in a total of 3.465 million yuan, with an average transaction price of 23.10 yuan, resulting in a net profit of 210,000 yuan in one day.
In fact, judging from the trend of Yinzhijie, the two times of rising against the market trend when the index fell have successfully attracted widespread attention from the market. This can be seen from the fact that Xu Jianqing's 1,500-lot sell order only pushed the stock price down by 0.25 yuan.
The trend is intact and there is off-market funds taking over. Gu Junhao can indeed be a little more greedy and wait until the end of the trading day or tomorrow morning to sell.
Even if he was worried about the transaction volume, he could have asked Xu Jianqing to ship the goods in batches and in small orders, but Gu Junhao did not do so.
In addition to having exceeded his own intraday T profit target, there is another point, that is, Gu Junhao also wants to test Yin Zhijie's ability to take over.
1,500 lots in a short period of time, close to a trading volume of 3.5 million, is not a small amount for Yinzhijie; up to now, the trading volume of Yinzhijie in this round of increase has not exceeded 30 million.
The transaction volume of 3.5 million yuan has exceeded 10%. Gu Junhao is still happy that he can take it over smoothly. The reason for doing so is that he thought of Yin Zhijie's holdings.
Gu Junhao, who has a large position in Yin Zhijie, wants to use this method to test the possibility of selling out in an unexpected situation.
At 14:15, Yinzhijie's price rose again to 23.11 yuan, and then just like the previous two abnormal rises, the stock price fluctuated between 23.10 yuan and 22.90 yuan.
After a rapid decline and two sideways fluctuations after rising against the market trend, the main forces in the market have made the retail investors in Yinzhijie run around in circles.
The techniques are exactly the same, but the stock price positions and timing are different, and the psychological tolerance of retail investors is naturally different. It is unknown whether they can withstand the tossing of big funds.
"No wonder I read a post the other day saying that after buying stocks and putting PC in for a while, things might be better," Xu Jianqing suddenly said.
All this is because Yin Zhijie has entered a sideways fluctuation mode again. As a long-term trader of Yin Zhijie, Xu Jianqing is more familiar with this method than Gu Junhao.
At 14:46, the second wave of volatility in the afternoon ended. Like the morning, the second wave of volatility lasted for a shorter time. Yinzhijie rose in the late trading, and the ChiNext Index also entered the stage of rising in the late trading.
Yin Zhijie's stock price rose at the end of the trading day, and although the trading volume increased slightly compared to the period of volatility, it did not increase. The moment with the largest trading volume throughout the day was the moment when Xu Jianqing sold the shares.
However, Yinzhijie's stock price, which rose in late trading with reduced volume, still created the highest price of the day, at 23.50 yuan, up 7.40% on the day, and the amplitude of the whole day was close to 10%, with great volatility.
Yinzhijie, whose intraday trading volume was close to 100 million yuan, showed a bald-positive trend in the late trading, and the price of 23.50 yuan was also its highest since the ex-rights price.
This price has increased by more than 76% compared to the lowest price of 13.30 yuan on the ex-rights day. Based on Gu Junhao's judgment today, Yinzhijie's trend has officially entered an acceleration period.
Like Tong Huashun, for this round of Yin Zhijie, Gu Junhao still focuses on his rights issue, and the expected stock price range is between 27.59 yuan and 29.54 yuan.
Compared with today's closing price, the increase is between 17% and 25%. Judging from Yinzhijie's recent performance, this possibility may exist this month.
You should know that Tonghuashun’s fastest month-long increase was also quite a lot, and Yinzhijie, who had a very high level of control over the market, would naturally have no problem in increasing the price if he wanted to.
When that time comes, Gu Junhao will also reduce his holdings like Tong Huashun.
After the market closed, Gu Junhao took a look at Xu Jianqing's delivery order for today's operations. In fact, Gu Junhao had a rough idea of the delivery through real-time monitoring of the market.
However, it is safer to take a look. Xu Jianqing's personality is different from the other two, although he has become much more stable recently.
"Not bad. I'll do T at this pace in the future. It will be enough to maintain a transaction volume of around 3 million." Gu Junhao said with satisfaction.
At present, Yinzhijie’s average daily trading volume is about 100 million yuan, and 3 million yuan is about 3% of the daily trading volume, which is relatively safe.
As for whether to buy first or sell first, this depends on the real-time market. At the same time, the impact of the index must also be considered. Gu Junhao cannot be sure what the trend will be tomorrow.
Trading is not static. In addition to the core operational thinking, trading should change according to market changes.
Just like today, when the styles of the two markets switched, Gu Junhao promptly seized the recent frequent movements of Yin Zhijie and made a perfect operation.
At today's close, the styles of the two markets switched, and the Shanghai Composite Index opened high and closed low. Although it rose slightly to 2326.53 points at the end of the session, which was exactly the closing point of last Friday, it still appeared as a cross negative line on the daily line.
After experiencing a sharp drop of 1% in the early trading, the ChiNext Index subsequently followed a V-shaped trend, performing stronger than the Shanghai Composite Index.
In the afternoon, although the ChiNext Index turned green from time to time, it still stubbornly fluctuated upward, closing at 1492.02 points at the end of the trading day, up 0.28% on the day, successfully defending the five-day line.
The three major financial sectors performed poorly and the Shanghai Composite Index was under pressure. It was very reasonable for some funds to switch styles and return to the small and medium-sized boards in a timely manner, in Gu Junhao's opinion.
After all, it is much easier to pull up small and medium-sized enterprises than to pull up big ones. By utilizing the money-making effect of small and medium-sized enterprises, the outflow rate of funds from weight stocks can be increased.
If the Shanghai Composite Index continues this performance this week, it may not be a bad opportunity for some small and medium-sized enterprises with better performance this week.
The performance of several other stocks held today was also acceptable. Dongfang Fortune and Wan'an Technology turned positive, while Xibu Securities, as expected, closed down along with brokerage stocks.
However, the good thing about Xibu Securities is that its stock price is relatively stable. In the absence of systemic risks in the market, even if it falls, it will not fall too much.
Of course, before there is a big market for securities companies and the additional issuance is finally implemented, Xibu Securities will not rise much. A 2% increase in the day can be regarded as a big rise and fall.
Different from several other stocks with great fluctuations, Xibu Securities' holdings have remained unchanged since they reached 12,800 lots. The market value of more than 15 million has also become the cornerstone of Junshi No. 1's holdings.
"I didn't expect that a small brokerage firm that I randomly picked would have the most stable position among all the holdings." Gu Junhao couldn't help but think to himself during the after-market summary meeting.
In a bull market, buying a brokerage stock can not only allow you to observe the market trend, but also offset certain market risks to some extent.
After finishing today's transactions, Gu Junhao did not stay in the trading room for too long. After returning to the office for a while, he signed a few documents and left work early.
I promised Zhang Yiru in the morning that I would pick her up after get off work as early as possible in the evening. Of course, I have to keep my word.
In the evening, after they had dinner and took a while to digest the food, while Zhang Yiru was watching TV series, Gu Junhao also turned on his computer to see if there was any new news in the market.
Whenever Zhang Yiru was watching TV series, Gu Junhao would pass the time in this way, so that he could accompany her without being too bored.
Gu Junhao has no interest in some of the current TV dramas and variety shows.
After browsing the news for a while, Gu Junhao accidentally saw an analysis report released by a securities investment company also in Ningbo; the report believed that the disclosure of economic data for August would begin from tomorrow.
The market generally believes that the data for August will still be weak. Although the short squeeze of the Shanghai Composite Index's six positive days last week has activated market sentiment to a large extent, in the medium and long term, the market is expected to continue to develop.
However, today's pullback also shows that pressure above 2,300 points has emerged. In the short term, the upward momentum will slow down. From the perspective of operational strategy, investors are advised to pay attention to controlling their positions, not to be fully invested, and not to blindly chase the rise.
In this continuous short squeeze market, you must remain calm and sober.
"Today's institutions are quite bold in speaking out. This can be regarded as a timely warning of risks." Gu Junhao said to Zhang Yiru after reading the report.
Zhang Yiru simply glanced over it. She was not very interested in stock investment. Then she said to Gu Junhao, "If it rises too much, it will fall. If it falls too much, it will rise again. Isn't it always like this?"
Although Zhang Yiru's idea is a bit superficial in its understanding of A-shares, the general truth is true. Even a stock with poor performance will rebound after a continuous decline.
The market is like this, with countless people getting on and off the bus, causing stock price fluctuations, which really proves the saying "if it rises too much, it will fall, and if it falls too much, it will rise."
As this report says, all we need to do is stay calm.
However, the current environment is really different from the future. In the future, such reports will be hard to come by, and ordinary investors can only see those mindless bullish reports.
September 10, Wednesday; as the report said, the Shanghai and Shenzhen stock markets, which were under pressure, both opened lower today, with the Shanghai Composite Index opening at 2318.50 points and the ChiNext Index opening at 1491.41 points.
The three major financial sectors still performed poorly at the opening today, but the SME Index, which represents small and medium-sized enterprises, performed well at the opening today.
Just as Gu Junhao thought yesterday, even without interference from the external environment, the Shanghai Composite Index has reached today's pressure area. As the weight continues to be sluggish, it is inevitable that funds will be diverted to small and medium-sized enterprises.
Yin Zhijie maintained his rhythm as always and opened flat at 23.50 yuan. It opened high yesterday and opened low today. He always did so.
Trading began at 9:30. Just like yesterday, the Shanghai Composite Index fluctuated in the afternoon and approached the 5-day line. The ChiNext Index, which also opened low, fell slightly and then quickly rose at 9:32.
Influenced by the recent active performance of some non-traditional tourism industry companies in the capital market, the tourism sector performed well, with some individual stocks hitting the daily limit as soon as they opened.
Some other travel and hotel stocks followed the rise, and funds flowing out of blue chip stocks chose to attack small and medium-sized tourism stocks this morning.
Yinzhijie opened flat and retreated, with the stock price hitting a low of 23.08 yuan. The stock price fell by nearly 2% and a rebound began.
However, this round of rebound of Yinzhijie seems to be dominated by retail investors. At 9:36, the stock price of Yinzhijie turned positive, and there was no buy order of more than 100 lots in the trading market.
At 9:37, the ChiNext Index returned to around 1490 points, above the 5-day moving average, while Yin Zhijie, which had turned red, was continuously pushed upward by small orders.
23.80 yuan, 23.90 yuan, 24 yuan. Yin Zhijie kept breaking new highs, and Gu Junhao also smiled when he saw this.
"Retail investors are quite interesting, and the sentiment to chase the rise is very strong."
At 9:45, Yinzhijie reported 24.23 yuan, up more than 3% on the day. Looking at the small buy orders that kept pouring in, Gu Junhao shook his head and said to Xu Jianqing: "Smash 500 lots to calm them down."
If we continue to buy these small orders like this, Yinzhijie will deviate too far from the five-day line, which will have a great impact on the subsequent trend. If we want the five-day line to keep up with the trend of the stock price today, we must pull Yinzhijie to the daily limit.
But it is obvious that the main capital has no intention of doing so. After 15 minutes of trading, there are very few buy orders of more than 200 lots. Gu Junhao does not want the stock price to deviate too far from the five-day line.
The best trend is to slowly rise along the five-day line.
Gu Junhao chose to place a buy order for 500 lots. In addition to calming down retail investors, his intention was also to test the attitude of the main players in the market.
After Xu Jianqing received the order, he placed an order for 500 lots above the 24 yuan price without thinking. As Xu Jianqing placed the order, the stock price of Yinzhijie quickly fell from 24.23 yuan to 24 yuan.
On the time-sharing chart, Yin Zhijie showed an A-shaped trend, while Xu Jianqing's order of 24 yuan was placed at the price of 24.23 yuan, and only 100 lots were traded.
