Chapter 248 Emotional Switching
Friday, November 7th.
The Shanghai and Shenzhen stock markets entered the last trading day of the week with yesterday's sharp rebound. Today is also the day when the net value of Junshi No. 2 is announced for the first time. Like Junshi , the net value of Junshi No. 2 is also scheduled to be announced once a week.
The holdings are still not announced to the public, but compared with the holdings of Junshi No. 1, most of Junshi No. 2's holdings are concentrated in the heavyweight stocks with Chinese characters in their names and the brokerage sector, so Gu Junhao is not afraid of being dumped.
Even if people knew about it, it wouldn't matter.
For Junshi No. 2, which has a hot subscription market, the initial net value performance has also attracted great attention from investors, peers and Gu Junhao's fans.
Li Ze, who claims to be T's number one fan, is one of these people. He started chatting with everyone in the group early in the morning.
"Brothers, what do you think of Junshi No. 2's net value performance this week?"
"Why do you care about this? We don't have money to invest. You should be concerned about your Tong Huashun. It has been falling for three consecutive days."
Since Tonghuashun bottomed out and rebounded on October 27, its performance in the first four trading days of November has not been ideal, except for a 4.20% increase on Monday this week.
In the following three trading days, the stock price continued to fall back. Yesterday, Tonghuashun's stock price fell back to near Monday's opening price, and the trading volume also shrank again to 38.12 million yuan.
Once the share price of Tonghuashun continues to fall, Li Ze, who has a full position in the stock, will inevitably become the target of everyone's ridicule. However, Li Ze does not care. In his words, this is an opportunity for the older brothers to get back on board.
"It has been falling for three consecutive days, so what? There is still a 0.15 yuan increase. Anyway, as long as it doesn't fall today, it will make money. Besides, its trading volume has shrunk so much, it can't fall much."
Amid the anticipation of numerous investors, A-shares ushered in the last trading day of the week, and the Shanghai and Shenzhen stock markets continued to open higher. Zhongguo Communications Construction opened higher at 6.86 yuan.
A total of 165,600 lots were traded in the call auction, with a transaction amount exceeding 116 million yuan.
"Tsk tsk, the trading volume of the call auction is enough to match Yin Zhijie's trading volume in a week. It's really exaggerated." Gu Junhao said with some amusement.
Only in such stocks with large trading volumes can you feel the excitement of trading and experience the power of money.
The constant refreshing of intraday transactions is incomparable to those small and medium-sized start-up stocks with very small trading volumes.
The volume began to increase in the call auction. From this point, it is not difficult to see that today is destined to be another day of high transaction volume and high turnover for Zhongguo Jiaojian.
However, in Gu Junhao's opinion, in order to maintain yesterday's surge, the trading volume must be at least around 3 billion.
At 9:30, official trading began. The index continued to maintain a high and narrow fluctuation trend in the morning session, but the market hotspots were clearly differentiated and small and medium-sized enterprises performed generally.
The funds mainly focus on attacking the heavyweight stocks in the three major financial sectors, the Belt and Road Initiative, and the state-owned asset reform series. Zhongguo Communications Construction had a uniform large purple order in the morning, and large orders of more than 10,000 hands could be seen at any time, and trading was very active.
In the morning half hour, Zhongguo Jiaojian's price fell to a low of 6.67 yuan and rose to a high of 6.98 yuan, with a range of fluctuations close to 5%.
"Boss, you guys don't want to do T?" Xu Jianqing couldn't help but feel itchy when he saw that Zhongguo Jiaojian was fluctuating so much, while Gu Junhao was just staring at the time-sharing chart without making any transactions.
The trading of Zhongguo No. 1 Heavy Industries, which was in the process of building a position, was also very active, with large orders coming out from time to time; however, compared with the all-purple buy and sell orders of Zhongguo Jiaojian in the morning, there were more orders at Zhongguo No. 1 Heavy Industries.
If the morning's all buy and sell orders of Zhongguo Jiaojian were mostly a game between large and small institutions and hot money, Zhongguo No. 1 Heavy Industry, which has a considerable share of mid-sized orders, has attracted a lot of ordinary retail investors during this period of sideways trading.
In the morning, there were quite a few transaction orders of one or two hundred lots at Zhongguo No. 1 Heavy Industry. For Zhongguo No. 1 Heavy Industry, whose share price was around 4.3 yuan, a buy order of one hundred lots would only bring in more than 40,000 yuan.
This is also one of the reasons why Gu Junhao told Xu Jianqing not to rush to build a position after the market opened in the morning; with too many retail investors and the dispersion of chips, it would be much more difficult to raise the stock price.
This was also proved by the rapid and sharp decline of Zhongguo Yizhong after its surge yesterday.
After a wave of rise, the funds in the market were unable to form a synergy, and after the stock price doubled, they only wanted to take profits and exit. This is similar to the fact that Tong Huashun was unable to break through the high point after filling the rights issue.
"Don't be in a hurry. We have just established our positions. There are big differences in funds today. Let's wait and see." Gu Junhao responded.
In fact, for a company with a trading volume like Zhongguo Jiaojian, it would not be uncommon to make a profit of only one or two points by doing a T of tens of thousands of lots; however, Gu Junhao did not plan to trade.
The position has been established, and everything will wait until the new trader is in place next week.
Shen Boyu's efficiency is still very good. After Gu Junhao came to the company in the morning, Shen Boyu found Gu Junhao and told him frankly that two experienced traders would come to apply for the position this weekend.
And it had only been a week since Gu Junhao mentioned recruiting new people; at the beginning of the company's business, it was helpful to have such a capable assistant who could execute his orders efficiently.
This made Gu Junhao feel very relieved.
Another good news is that Liu Yuhua has already reached an agreement with the property manager of the Financial Building and fortunately has rented a suitable office area on the same floor as Junshi Capital.
However, you have to wait until the end of the year to rent it because a company on the same floor will have its rent expire at the end of the year and will not renew its lease.
This office area is 200 square meters, which is smaller than Junshi Capital's existing office area, but it is completely sufficient. Gu Junhao plans to move the fund business department there after the office is officially leased.
The total office area of 500 square meters is more than enough for Junshi Capital in the next few years. The independence of the fund business department and the trading room is also more beneficial in terms of confidentiality.
Gu Junhao is also prepared to make certain adjustments to the company's specific structure. He will transfer several analysts from the market intelligence department to the fund business department. This will facilitate communication with Xu Jianqing and others.
However, all this will have to wait until the end of the year when the fund business department and trading room officially move in. For now, the situation remains the same.
In the morning, the Shanghai and Shenzhen stock markets did not fluctuate much. After the morning correction, Zhongguo Communications Construction Co., Ltd. never broke through the 10 o'clock high point, but instead refreshed the previous low price at 10:18.
At the midday close, Zhongguo Communications Construction closed at 6.79 yuan, down 0.15%. The morning transaction volume exceeded 1.5 billion yuan, and funds showed a net outflow.
The trading volume and turnover rate in the morning both indicate that Zhongguo Jiaojian's trend today will not be very good. Zhongguo Jiaojian, which started quickly from a low level, has slowed down its gains after a rapid increase of more than 50%.
If you want to make a short-term market like the hot money, today is the best time to sell. After all, up to now, the profit of Zhongguo Jiaojian's holdings is still as high as more than 10%.
In the afternoon, trading continued. The three major financial sectors that performed strongly in the morning continued to rise in the afternoon, leading the Shanghai and Shenzhen stock indices to continue to rise. The Shanghai Composite Index even rose to 2454.42 points at one point.
2454.42 points is also the highest level of the Shanghai Composite Index in nearly 32 months. Market sentiment has also been triggered to its peak. There are constant calls for a bull market on major social media and stock trading groups.
"There is no volume. There should be a correction in the afternoon." Emotions came too quickly. Gu Junhao looked at the rising index, but the trading volume was slow to increase, so he said to Xu Jianqing and the others.
When emotions reach a consensus, adjustment often begins.
Zhongguo Jiaojian quickly rose to 7.04 yuan in the afternoon. Like the index, it was also in a state of unlimited rise. In a round of nearly 3% increase, the trading volume was only 150 million yuan.
"Then shouldn't we sell it?" Xu Jianqing looked at Gu Junhao eagerly, hoping that the boss would allow him to trade.
"No, it's troublesome to sell a small quantity. I've already missed the opportunity in the morning. Let it go. You should be honest too."
The rise was too fast, and the volume could not keep up. As expected, the Shanghai and Shenzhen stock markets and all individual stocks began to fall back. At 1:30 p.m., the decline of the Shanghai and Shenzhen stock markets began to accelerate.
In just half an hour, the Shanghai Composite Index fell from a peak of 1.16% to 0.33%, and the speed of decline was very obvious.
At 14:15, the Shanghai Composite Index turned green and closed at 0.2%, a drop of nearly 1.4% in 45 minutes; at this moment, some ordinary investors who were slow to react finally reacted.
There is no doubt that the purchase was made at the highest point of the day again. This is also the reason why Gu Junhao has always emphasized that Xu Jianqing and others should not move rashly.
No matter what kind of bull market it is, the stock index has risen to its highest level in 32 months. The pressure is very obvious, and the pressure for a correction is also very obvious.
However, it is very easy to get into trouble when doing T at a high level. Once the index turns around too sharply, it is easy to lose your profits or even get stuck in it.
The dive at 13:30 continued until the closing stage. Today, the Shanghai Composite Index fluctuated widely in the afternoon, with an all-day amplitude of up to 1.94%, and finally ended this week's trading with a drop of 0.32%.
The only good news is that the Shanghai Composite Index, which has plummeted, has not seen a significant increase in trading volume compared with the previous trading days, and large funds have not fled in large numbers, which is also good news.
Zhongguo Communications Construction also rose and then fell, plunging in the late trading; it finally fell by 2.06% to 6.66 yuan.
The trading volume decreased in the afternoon
The Shanghai and Shenzhen stock markets ended the last trading day of the week with a sharp dive. At the end of the week, the Shanghai Composite Index fell 0.08%, and the weekly trading volume exceeded one trillion yuan.
The ChiNext performed stronger, rising 0.62% this week with reduced volume. The reduction in volume of the ChiNext is understandable, as funds this week crazily poured into the three major financial institutions and heavyweight stocks headed by Chinese characters in their names.
However, as the Shanghai Composite Index continued to break through its highs, although the ChiNext Index ultimately closed higher this week, the index has been unable to regain its highs at the beginning of the year.
This is also a hidden danger. For some small and medium-sized growth stocks with weaker performance, there is a certain risk of a pullback after the index fails to break through.
This is what weak stocks do. When they rise, they cannot rise above the index, but when they fall, they can far outperform the index.
