Chapter 210: Downturn
The share price of Yinzhijie was 23.95 yuan, and the remaining 400 sell orders and the pending orders at 24 yuan could no longer be executed ; Xu Jianqing stared at the trading quotation in a daze.
"A sell order of 500 lots has such an effect? And only 100 lots were traded." Xu Jianqing asked Gu Junhao.
"That's about right. It looked like he was pulling hard this morning, but in fact, he only traded about 600 to 700 lots. That's how it is when the market is light. You can withdraw the remaining stocks if you haven't sold them."
It is not about actually selling, it is just to serve as a guide. Since the effect has been achieved, there is no need to worry about whether to sell.
23.95 yuan is not the bottom of Yinzhijie's A-shaped pattern. As large orders were placed, many people followed suit on the trading table. At 9:49, Yinzhijie reported 23.50 yuan, and only then did it stop falling.
With the last sell order of 57 lots at 23.50 yuan being executed, the stock price of Yinzhijie fell 3% after a 4% surge. The stock price was pulled up again by various retail investors and reported at 23.70 yuan.
At 9:55, the ChiNext Index turned positive, and Yinzhijie's stock price also entered a period of volatility, fluctuating around 23.70 yuan. Above the trading price, the number of sell orders for 100 lots gradually increased.
"It looks like it will fall further." Gu Junhao said with a smile. In the early trading, Yin Zhijie had too little time to adjust. It deviated so far from the five-day line that it was pulled up by retail investors.
Judging from the sell orders in recent period, the main funds seem to intend to continue adjusting. At 10:15, the ChiNext Index broke through 1,500 points, setting a new high since the rebound.
At this time, Yinzhijie once again went against the market trend. A sell order of 300 lots pushed Yinzhijie back to the flat price of 23.50 yuan. Immediately, a sell order of 125 lots at the flat price followed, causing Yinzhijie's stock price to turn green.
The amplitude in a short period of time exceeded 5%. The retail investors who bought at a price above 24 yuan in the morning are probably in panic by now.
"You will regret it all your life if you chase high prices, haha." Gu Junhao suddenly laughed. The ChiNext Index hit a new high, but Yin Zhijie has always been accustomed to independent market conditions. It is common for the index to rise and then for him to fall.
Just like in the morning, Yinzhijie's stock price fell rapidly. At 10:22, the stock price was 23.05 yuan. At this time, the number of buy orders above 100 lots on the trading page increased.
At 10:29, Yinzhijie returned to the red market price, with the share price at 23.52 yuan.
After seven minutes of market crash and seven minutes of rally, the stock price did not change, but the danger was evident; in terms of trend, Yin Zhijie's intraday chart was also extremely ugly.
An A-shaped surge, followed by a V-shaped decline and reversal after 25 minutes of sideways trading. The stock price did not change much compared to the opening price, but only those who were watching the trading quotes could know how many people were trapped and how many were washed out.
At 10:30, after Yinzhijie briefly returned to the flat price, the stock price was again pulled up to around 23.70 yuan and fluctuated. The trading volume has shrunk a lot compared to the opening stage.
As the ChiNext Index broke through 1,500 points, the enthusiasm for small and medium-sized enterprises was ignited, and ordinary retail investors' attention to Yinzhijie was no longer as high as in the early trading session.
Yinzhijie has returned to calm, and its stock price has been fluctuating around 23.70 yuan. Throughout the morning, Yinzhijie's stock price never broke through 24 yuan, and the highest it only rose to 23.95 yuan.
By midday, Yinzhijie was trading at 23.89 yuan, up 1.66%. The morning trading volume was close to 50 million yuan.
The ChiNext Index hit a high of 1504.50 points in the morning session and then slowly fell back to close at 1495.01 points at noon, up 0.07%.
Not surprisingly, when Yinzhijie surged from the price of 23.70 yuan, the ChiNext Index began to fall. It seems that the main funds today are destined to move in the opposite direction of the index.
Judging from the weak fluctuations of the Shanghai Composite Index in the morning, if the ChiNext Index rises again in the afternoon, Yinzhijie is destined to have an adjustment trend today.
"It was so ugly to walk this morning." Wang Ruoyu suddenly said at lunch time.
Dongfang Wealth, which was still rising yesterday, opened today like the index, with a low opening of 1%. However, Dongfang Wealth did not choose to follow the rise of the ChiNext Index in the morning.
At the midday closing, Dongfang Fortune still closed in the red, with the stock price fluctuating by only 2%. This reminded Wang Ruoyu of the previous market trend of Dongfang Fortune when it fell unilaterally.
"It's okay. We have already reduced our positions before. It's better if the price drops further." Xu Jianqing said carelessly. The 500-lot crash this morning was really exciting.
One lead can cause the stock price to fall by 3%. If the sell order is larger, wouldn't it be possible to directly hit the limit down? Thinking of this, Xu Jianqing seemed a little excited for no reason.
"The three major indexes have all reached pressure points. It is normal for funds to be afraid of high prices at this point. There is no need to worry too much." Xu Jianqing was right. He had already reduced his positions before. Now that the prices have fallen to the point where they should be, he just added positions back.
Trading continued in the afternoon. At the beginning of the session, the ChiNext Index began to rise slowly. By 1:15 p.m., the index returned to the 1,500 point position.
Yinzhijie continued to adjust downward. Every time Yinzhijie had a big rise, the market would start to adjust the next day, which might take three or four trading days at most or one trading day at least.
" I don't know how long this adjustment will take." Gu Junhao thought secretly.
Although Yinzhijie's intraday chart today is extremely ugly, judging from the stock price trend and trading volume, it performed quite well. After turning red at 10:30 a.m. until now, Yinzhijie has never been in the red.
In terms of trading volume, there were nearly 50 million transactions in the morning. As long as the volume does not shrink too much in the afternoon, the daily average trading volume can basically reach about 100 million.
However, in Gu Junhao's opinion, Yin Zhijie's slow upward adjustment is the most perfect. It would be even better if it could be adjusted to near the five-day line.
In the afternoon, the overall market conditions in Shanghai and Shenzhen were weak. Although the small and medium-sized start-up sectors and the ChiNext Index performed well, they were not enough to boost the sentiment of the entire market.
Even after the big surge in 2013, the ChiNext in 2014 was far less popular than in later generations.
At 2 p.m., the ChiNext Index continued to rise after adjustment, Yinzhijie fell near the daily average line, and the stock price returned to 23.70 yuan. Today, he can't get over this price.
At 14:07, the ChiNext Index hit a new afternoon high. The share price of Yinzhijie moved abnormally. A sell order of 500 lots pushed the share price down to 23.30 yuan.
"This dog village is really interesting. There is not much volume but it still wants to smash it." Xu Jianqing said with a smile. He learned the word dog village recently.
"It's probably waiting for the moving average to move up. It looks like there will be another adjustment tomorrow." Gu Junhao continued.
Just as Xu Jianqing said, there was not much trading volume and there was no big impact even if the stock was smashed. After turning green for three minutes, Yin Zhijie also returned to the red.
Afterwards, Yinzhijie returned to the oscillating mode. Except for the oscillation in the early morning half an hour, the market of Yinzhijie was extremely boring throughout the day.
At the close, Yinzhijie's price was 23.70 yuan, up 0.85%, with a turnover of 96.84 million yuan. It is certain that the price of 23.70 yuan will not be exceeded today, and the closing price will also be at this price.
The two stock markets were flat today. Although the ChiNext Index broke through the 1500-point mark and closed at 1504.97 points, the market trend of the bald positive line did not bring much money-making effect.
Apart from the tourism sector which saw unusual movements at the opening, the only small and medium-sized start-up sector that could be said to have performed well throughout the day was the newly listed stock sector, and most individual stocks were in an adjustment trend.
The Shanghai Composite Index fell by 0.35%, with two consecutive negative K-line trends; the performance of the stocks held by Gu Junhao today was also very average, with a sluggish market throughout the day.
Among the five stocks, only Yinzhijie closed in the green, Xibu Securities and Tonghuashun had two consecutive declines, and Dongfang Wealth also led the five holdings with a decline of 0.86% today.
Dongfang Wealth maintained a weak and volatile state throughout the day, and its top position has moved down. Although it barely closed above the five-day line today, with the continuous decline of Tonghuashun, I believe that downward adjustment is not far away.
The increase in the ChiNext Index seems to be just a false increase at the moment. Before the strong stocks in the previous period are adjusted, there will still be an adjustment, just like the Shanghai Composite Index.
The two consecutive declines of the Shanghai Composite Index, coupled with the flat trading conditions , also poured cold water on the recent hot sentiment in the two markets. It seems that the institutions' briefing yesterday did have a certain effect.
Even Xu Jianqing and the other two seemed a bit listless at the close of today's trading, but Gu Junhao was happy to see this trend. Apart from having already reduced his own positions, Gu Junhao really hoped that the market could adjust.
Just like Yin Zhijie's early-morning surge today, Gu Junhao will decisively dump the stock when the trading volume cannot keep up with the increase. Gu Junhao also hopes to make adjustments to the index.
A benign adjustment is not a bad thing for individual stocks and indexes, and the adjustment is also for better growth.
In the last few days of the six consecutive rising days and the adjustments in the last two days, the trading volume of the market has never achieved a breakthrough. Without the increase in trading volume, there is naturally no breakthrough to speak of.
In the evening, the statistics department released the August data that the market was looking forward to as scheduled. In August, CPI rose by 2% year-on-year, down 0.3 percentage points from the previous month.
CPI, whether too high or too low, is inappropriate and will bring various negative effects. A too high CPI may lead to an unclear economic outlook.
However, a CPI that is too low and a reduction in consumption levels may trigger deflation; the best CPI is to remain between 2% and 4%.
Both too high and too low are harmful to ordinary people.
Although the CPI in August remained within normal levels, the month-on-month drop of 0.3 percentage points also made the CPI in August the second lowest level of the year.
This set of statistical data has also triggered market concerns about the economic downturn in the third quarter. The market generally expects that the GDP growth rate in the third quarter is likely to fall compared with the second quarter, and the subsequent economy will have a natural downward momentum.
In addition, data from the statistical department also showed that the year-on-year decline in PPI further widened in August, with month-on-month negative growth continuing for seven consecutive months.
"Interesting. Although the data has fallen, the bearish experts in the market have immediately jumped out again." Gu Junhao said while browsing the market comments.
These hindsight observations, being bullish or bearish is just a matter of one thought.
