Chapter 212 Invitation Letter
Xu Jianqing was already very familiar with Yin Zhijie; after rising to a high point, it would naturally fall back, and then oscillate at a high level. Moreover, the boss had already instructed today not to move rashly.
Just like the previous few trading days, Yinzhijie fell back after rising, and after a brief adjustment to the flat price, it began today's volatile market.
Since entering September, the trend of Yinzhijie has made Xu Jianqing sigh in his heart. The adjustments before the rise seemed so easy.
Without spending much money, retail investors can participate spontaneously under the mobilization of emotions.
Rather than saying that the main force is driving this round of Yinzhijie's rising market, it is better to say that the main force is encouraging retail investors to spontaneously participate in promoting the trend.
"Boss, when our fund grows in size, can we find a small or medium-sized stock with better prospects and control the market like Yin Zhijie?"
According to Yinzhijie's current pace, it is inevitable that the assets will exceed 70 million within this week, even if the other three holdings continue to fall.
Because so far this week, Yinzhijie's increase has been close to 10%, and as long as the other three holdings do not fall too sharply, the fund will still have positive returns.
Besides, the current market value of cash plus Yinzhijie has exceeded half of the total size of the fund. Under the circumstance that the three holdings can maintain positive returns even when they fall back, Xu Jianqing feels that it is only a matter of time before the total size exceeds 100 million.
Xu Jianqing's nonsensical idea amused the three people in the operating room. Gu Junhao did not answer Xu Jianqing's words, but smiled and shook his head.
In Gu Junhao's opinion, when the funds reach a certain scale, the best way is not to control a small or medium-sized start-up stock by yourself, as this is too tiring.
In terms of returns, it may not be that good. You have to know that it is still quite difficult to trade a stock, even if there are not many shares in circulation.
In addition to the cooperation of listed companies in making announcements, it also takes a lot of time to collect chips. Once there are enough chips, daily work of maintaining the market must be carried out.
Admittedly, when funds reach a certain level, they will certainly not be as hidden as they are now, but there is no need to operate in this way. It is possible to enter into some large-cap stocks where public funds are concentrated, or to operate in multiple varieties.
You can do things that affect the short-term trend of stocks; but if you want to control a stock, you should try not to get involved, as the risk and return are not proportional.
Moreover, Junshi Capital has not yet reached that scale and size. Even if its total scale exceeds 100 million, it is somewhat insufficient.
Time unknowingly came to the midday closing. Yinzhijie, which fluctuated at a high level, finally closed at 22.32 yuan, up 2.01%.
The indices of the Shanghai and Shenzhen stock markets slowly fell back after rising in the morning. The Shanghai Composite Index fell back nearly 17 points to 2329.07 points, up 0.46%. The trading volume also increased significantly compared with yesterday.
The ChiNext Index, after creating a high of 1532.31 in the morning, slowly fell back to 1523.86 points, up 1.26%. Compared with the Shanghai Composite Index, the decline was much smaller.
"Looking at the situation today, it shouldn't be a problem for the ChiNext to exceed 40 billion yuan, but I don't know if the Shanghai Stock Exchange can exceed 200 billion yuan in trading volume."
While the three were preparing lunch, Gu Junhao stared at the index and thought. In Gu Junhao's opinion, if the index rose to today's position and the trading volume could not break through 200 billion, everything would seem meaningless.
Although this morning's trading volume has increased significantly compared to yesterday, it still seems to be lagging behind; if it cannot keep up, the only option is to increase volume and experience stagflation.
Although the media and experts often blindly take a bullish view in order to gain more traffic, sometimes what they say does make sense.
"Boss, come and have dinner. We'll see you in the afternoon." In the living room of the trading room, Xu Jianqing shouted to Gu Junhao.
Every working day in the trading room, the four of them eat together. The takeout they order is delivered to the door of the trading room by Li Xinyu. It is a bit troublesome, but it is a way to avoid contact with the outside world during trading.
Many people don't understand why a small private equity company is so cautious in maintaining confidentiality to prevent related-party transactions, but Gu Junhao feels that safety is of paramount importance.
Especially after knowing what happened to Xu, Gu Junhao felt that he should be more careful, although he was currently building his own network step by step.
But compared with Xu, who has been active in the stock market for decades, Gu Junhao's network resources are not enough.
If something really happened, the sewing machine would have been turned on earlier.
In the afternoon, trading continued. Although I had decided not to participate in trading early this morning, I still had to continue watching the market.
The steel sector, which had risen abnormally after the morning adjustment, could not maintain its trading volume and fell rapidly after the afternoon opening. In fact, there were signs of this before the midday closing.
The Shanghai Composite Index also accelerated its decline in the afternoon. At 13:14, the index turned green again. The ChiNext was also affected by this, falling sharply by nearly 10 points.
"Fortunately, there were no pull-ups of two oil companies to support the market today, otherwise it might have caused panic." Looking at the Shanghai Composite Index which turned green again, Gu Junhao said with a smile.
Steel had already shown signs of a correction in the morning, and the index rose well. If this situation is maintained, the Shanghai Composite Index, which opened low and ended high, may not set a new high, but it should not fall back so significantly.
"Are we being too hasty?" Xu Jianqing also asked. The volume itself could not continue, but the index was being forced up.
"Not necessarily. It may be that the funds in the steel sector are eager to sell their goods ." Wang Ruoyu replied.
After rising for so many days, it is understandable that people are eager to sell as the index is difficult to maintain.
The amount of funds required to drive the steel sector, which can drive the index up, is still not small, and a major adjustment will result in huge losses.
The steel sector rose and then fell, the continued downturn of the three major financial sectors and the rapid dive of the Shanghai and Shenzhen stock indices also affected small and medium-sized enterprises. Junshi No. 1's holdings all remained in a state of rapid decline.
Dongfang Wealth, which maintained low-level fluctuations in the morning, saw its decline further expand to more than 2%.
Even Yinzhijie, the index's rebellious son, turned green again during this period, with its share price at 23.69 yuan.
At 13:18, the two markets, which had been declining continuously, rebounded slightly, and Yinzhijie was pulled back from 23.50 yuan to 23.70 yuan.
In this round of correction, the lowest price was 23.50 yuan, which was also the area of concentrated transactions in the morning. In Gu Junhao's opinion, Yinzhijie should not have had this correction.
However, this rapid dive of the index will still have a great impact on individual stocks.
In a round of diving in the afternoon that lasted less than 20 minutes, the ChiNext Index fell by nearly 1%, which is quite a large amount.
It is very difficult to stay out of the vortex, and the same is true for Yin Zhijie.
Yinzhijie also saw large buy orders above the 23.50 yuan price. This was the first time in several trading days that buy orders at the thousand-hand level appeared, which seemed to have confirmed this point.
As a rebellious son, it is natural to behave in a special way. It is also reasonable for large orders to buy at the bottom when the market is falling.
At 13:28, the Shanghai Composite Index, which had rebounded to the red, began to dive again and continued to fall into the green two minutes later. The trading volume of the ChiNext Index was also difficult to maintain and continued to fluctuate downward.
Ten minutes later, the ChiNext Index turned green. At this point, the three major indexes also turned green, which was consistent with the strong upward trend in the morning. In the afternoon, the Shanghai and Shenzhen stock markets changed suddenly.
Dongfang Wealth's decline was particularly obvious in this round. At this point, the decline had expanded to more than 4%. Within one day, the stock price broke through the five-day line and the ten-day line average price.
In the afternoon, Dongfang Wealth's trading volume increased significantly, showing a trend of increasing downward volume.
Even though Dong Fang's wealth plummeted, Gu Junhao still did not make any comment.
Although I had planned to buy the bottom at the 10-day line before, today did not seem to be a good opportunity. The plunge in the afternoon and the increase in volume of Dongfang Wealth made it impossible for me to catch up with the funds in my hands.
"Don't be anxious during the trading session. The trading volume in half an hour is too large. Let's see how much volume he has released today after the market closes before making a decision." Gu Junhao said to Wang Ruoyu.
Plans can never keep up with changes. If the afternoon's decline had not increased in volume, Gu Junhao might have bought the bottom near the ten-day line, but the volume is too large at present, and Dongfang Wealth is crowded with institutions.
Once the volume of stocks that institutions flock to fall falls sharply, it is easy to cause a stampede. If the 10-day line position cannot be maintained, then we must wait until the next support point.
Yinzhijie continues to fluctuate around the price of 23.70 yuan. Although the stock price turns green from time to time, it has gradually stabilized compared to the plunge of the index.
Sure enough, he performed the best today. Most stocks in the two markets plunged along with the indexes, but Yin Zhijie entered a sideways trend.
The sharp rise in the market in the morning had nothing to do with Gu Junhao, while the plunge in the market in the afternoon, except for Dongfang Wealth, the performance of other stocks held had little correlation with the overall market.
Tonghuashun is still in the red, and the amplitude throughout the day is very small. The same is true for Xibu Securities and Wan'an Technology. Although these two stocks are in a downward trend, the decline is not too large.
Gu Junhao was quite satisfied with this performance. It was inevitable that individual stocks would be affected by the high dive, as long as the decline was not too large.
Gu Junhao prefers stocks that can maintain a stable trend when diving from high levels.
However, today's Dongfang Wealth is clearly an exception. In this round of rising market, Dongfang Wealth has been in a state of stagflation, and signs of adjustment have been obvious.
Compared with the sudden adjustments of other individual stocks, Dongfang Wealth has given ordinary investors enough time to withdraw from high positions, and today's decline is just a continuation of the adjustment.
Relatively speaking, the main funds can be considered to be very generous. Whether it is the trading volume, turnover rate or K-line trend, these cannot deceive people.
By two o'clock in the afternoon, the Shanghai Composite Index still showed no signs of recovery, while the ChiNext Index, which had been plunging this time, had never been able to fall below 1,500 points, showing strong performance.
The strong ChiNext attracted funds flowing out of the Shanghai Stock Exchange. The trading volume of Yinzhijie's trading quotation has also shrunk to the intraday limit. Everything is moving in the direction of a change.
At 14:15, Yinzhijie rose to the price of 23.80 yuan and began to gradually move out of the oscillation area, moving upward, and the trend gradually strengthened.
At 14:30, Yinzhijie broke through the integer mark of 24 yuan. Led by a buy order of 541 lots, there was another round of intensive buying. Yinzhijie was priced at 24.30 yuan.
"It's starting to move, boss." Looking at the rising Yin Zhijie, Xu Jianqing said with a smile. Since September, Yin Zhijie has been the undisputed leader in fund holdings.
The stock was active, with huge fluctuations, and the trading volume was also steadily within a relatively considerable range; this gave Xu Jianqing a lot of trading opportunities, and he was much happier than before.
"Well, although it was a rise at the end of the trading day, the trend is still in line with expectations. You can continue to do T starting tomorrow." Gu Junhao said with a smile.
However, this time there was no other funds to provide Xu Jianqing with the opportunity to buy first and sell later, because the funds in the account had to be prepared for the bottom-fishing of Dongzhu Wealth.
If Xu Jianqing wants to complete the day trading plan, he can only rely on himself.
Yinzhijie, which rose in the late trading, did not increase in volume, but instead showed a shrinking trend. However, the stock price continued to rise. At the close of the market at three o'clock in the afternoon, Yinzhijie closed at the highest point of the day at 24.85 yuan, up 4.85%.
Yinzhijie's intraday trading volume was just over 80 million yuan, and its trading volume and turnover rate both hit a recent low; however, since the first of this month, Yinzhijie's increase has reached 32.89%, which is quite exaggerated.
In the afternoon, the Shanghai Composite Index plunged and finally closed at 2311.68 points, a drop of 0.29%, forming a negative line with an extremely long upper shadow line. Today's trading volume failed to break through 200 billion yuan, and finally reached only 197.2 billion yuan.
The Shanghai Composite Index ultimately failed to reverse on Thursday, with three consecutive negative days forming a sharp contrast to last week's consecutive positive days.
However, although the ChiNext Index also formed a long upper shadow line today, it ultimately reached 1513.01 points, still maintaining an increase of 0.54%.
The ChiNext Index had a daily turnover of 48.1 billion yuan and had three consecutive positive K-lines.
The company that suffered the biggest loss from Junshi No. 1 today was Dongfang Fortune. After plunging in the afternoon, Dongfang Fortune continued to fall and closed at 13.63 yuan, a sharp drop of 3.74%.
Although it barely stayed above the 10-day moving average today, the trading volume was 828 million yuan, of which more than 500 million yuan was released during the afternoon dive.
In response to this situation, Gu Junhao naturally changed his previous trading plan. Dongfang Wealth continued to seek the next support point, which is the 20-day line.
It is common for stocks that are crowded with public offering institutions to adjust for a month, but you still have to keep money ready at all times to prevent unexpected situations.
Today's sharp drop in Dongfang Fortune also had some impact on Junshi No. 1. Although Yinzhijie soared, its final return today failed to reach more than 1%.
However, even so, Junshi No. 1 still outperformed the Shanghai and Shenzhen stock markets, which means that there is no need to announce the fund's net value in real time, otherwise the yield would still outperform most funds in the two markets.
The sharp drop in Dongfang Wealth today also made Xu Jianqing and the other two extremely impressed with the boss's position adjustments. The boss seemed to have some kind of magic that allowed him to always avoid risks in time before they came.
What's even more peculiar is that although the two markets performed poorly today, the boss's Tong Huashun was still able to achieve an increase. However, the boss seemed a little unhappy with Tong Huashun's increase.
Unlike what Xu Jianqing imagined, Gu Junhao was not unhappy about Tong Huashun's rise today, but he had his own understanding.
As of today, Tonghuashun has been adjusted for 12 trading days. During these 12 trading days, Tonghuashun's stock price has always fluctuated within the big negative line on August 25.
In terms of trading volume, it has never been able to break through the volume of that day. Looking at the trend during this period of time, every time Tonghuashun showed a positive line, the volume was in a state of expansion.
However, compared with the previous positive line, the volume has weakened. The last positive line could rise by 5 points, but today it is less than one point.
"The index is at a high level, so Tonghuashun's rise today may not be a good thing." Gu Junhao thought secretly. Instead of a rise, it would be better for the stock to plummet like Dongfang Fortune.
This might shorten the adjustment time, but judging from today's trend, it seems unlikely that Tong Huashun can complete the adjustment in a short period of time.
This is also the reason why Gu Junhao frowned when he saw Tong Huashun finally turned red in the final trading session today. Rather than saying that today was an increase, it would be more accurate to say that it was a watershed moment in Tong Huashun's adjustment.
The Shanghai and Shenzhen stock markets are in urgent need of adjustment, and so is Tong Huashun. Based on the pessimistic trading volume, Gu Junhao feels that today is more like a downward relay.
It seems that Tong Huashun will need a long time to adjust, and the longer the adjustment time is, the longer the 9.53 million yuan of funds that he had previously reduced his holdings will be idle.
Nearly 10 million yuan of funds have been idle in the securities account, which is a harm to the utilization rate of funds.
But for now, it seems that this money can only lie quietly in the account and cannot be used for other purposes, although Tong Huashun expected that it would take a long time to adjust.
But if you make a wrong judgment, or even if you make a correct judgment, you cannot be sure of the specific time of this adjustment cycle, and the funds cannot be withdrawn at that time, it will be even more troublesome.
However, in the final analysis, it is still a dilemma based on the issue of fund utilization. If Gu Junhao simply looked at the adjustment, he would not have done so.
Nearly 10 million yuan of funds have been idle, so the mentality is naturally different compared to the hundreds of thousands before; of course, if you have a few hundred million yuan, you don’t have to care about these things.
But it is not impossible. However, at present, Gu Junhao has no better way than to passively accept it. As for short-term trading, Gu Junhao has not thought about it.
Since you have chosen to follow the main players in the market and make money from them, you can only accept their understanding of the trend and adjustment cycle.
Gu Junhao looked at the time helplessly. It was five o'clock. He then said to the three people, "If you have nothing else to do, get off work early. I'm leaving first."
When Gu Junhao returned to the office, he was no longer conflicted. Gu Junhao, who always considered the worst possible outcome, did so naturally after he figured it out.
However, it was not a happy thing after all, and Gu Junhao did not smile as usual, which made the young assistant look a little nervous.
"Um, boss." Li Xinyu looked at Gu Junhao, wanting to say something but stopping herself. Why did the boss seem unhappy today?
Glancing at Li Xinyu's expression, Gu Junhao seemed to realize that he was too serious and seemed to scare her. It wasn't a big deal, there was no need to be so serious.
Then, Gu Junhao asked with a smile: "What's wrong? Is there anything?"
Seeing this, Li Xinyu was relieved and said to Gu Junhao, "I just received another invitation from Shanghai."
Li Xinyu knew a thing or two about the boss's dislike of participating in these gatherings of colleagues. Last time, the boss directly rejected the invitation from colleagues in Ningbo, and this time it was from Shanghai.
However, it would not do to not report such a thing, and Li Xinyu would not simply pretend that he did not see it.
"Shanghai Stock Exchange? Why did they invite me?" Gu Junhao asked in confusion. Has his fame reached this point? But even so, Junshi Capital is not that big, right?
"Yes, it's an invitation letter from a company in Shanghai called Henghua Investment." Li Xinyu said as he handed over the invitation letter.
"Let me take a look." Gu Junhao took the invitation with a little interest. This was the first time he received an invitation from a colleague outside Ningbo.
Henghua Investment should be the private equity investment company that owns Henghua No. 1 Fund, which has always been ranked second on the list, right?
Looking at the invitation in his hand, it was not as exaggerated as the last one. It looked very simple in appearance. This style could arouse Gu Junhao's favor even without reading the content.
Gu Junhao has always been indifferent to some more ostentatious things. Simplicity and clarity are his favorite style, from clothing to office decoration and personal residence.
After opening the invitation letter, the content was simple and clear. In addition to the formal invitation, it also briefly explained the specific content of the exchange meeting and pointed out that people from the Fund Industry Association would participate.
The last signature on the invitation letter was Wang Chao, the fund manager of Henghua No. 1. Gu Junhao was naturally more familiar with Henghua No. 1, which was brought down by him.
However, even so, Henghua No. 1 has always been able to maintain its second place, and the fund's net value has been steadily increasing, which is enough to illustrate Wang Chao's actual trading level.
The dates are September 13th and 14th, which is this Saturday and Sunday, which is in line with the habit of fund practitioners to hold meetings on weekends.
After thinking for a while, Gu Junhao handed the invitation back to Li Xinyu and said, "Reply them with the contact information above and tell them that I will be there on time."
I just received the invitation today. Although the time is a bit tight, I don't plan to make any speech. I just want to go and have a look, so there is no need for too much preparation.
Now that I have received invitations from colleagues outside Ningbo, it is time to go out and have a look. Besides, Shanghai is not too far from Ningbo, so it is not a long journey.
Afterwards, Gu Junhao said to Li Xinyu, "Do you have time this weekend? Come with me if you have time."
It is normal to bring an assistant to such a meeting, but Gu Junhao still has to respect Li Xinyu's schedule. After all, today is Thursday.
Girls should arrange their weekend dates in advance, whether it's with an admirer or a close friend. If Li Xinyu doesn't have time, then she can take Xu Jianqing, the single guy, with her.
It is acceptable for Xu Jianqing, who has a strong ability to adapt to changing circumstances, to temporarily pretend to be an assistant.
