Chapter 291: Continuously Adjusting Positions
The sharp drop in the Shanghai and Shenzhen stock markets on Monday, led by securities firms, has deeply affected investors' sentiment. This is naturally not a good thing for the stock market. Fortunately, it is Monday, and as long as the bull market expectations remain, there is still time to repair the sentiment.
In general, Monday's big drop is better than Friday's. The market can restore sentiment through the next four trading days in the week and drive investors to re-enter the market. After a positive line, faith will naturally return.
If there is a big drop on Friday, after two days of cooling off, if there is no substantial negative news over the weekend, there will be another stampede into next week.
After a day of collectively turning off the lights and eating noodles, the Shanghai and Shenzhen stock markets ushered in a new trading day on Tuesday. The Shanghai Composite Index and the Shenzhen Component Index opened slightly lower, while the ChiNext Index opened higher. The performance of the two markets during the call auction period was relatively stable.
"I thought the market would continue to plummet for a few days, but it looks like it has recovered today." Cao Wenxun said with some regret.
"A continuous plunge is unlikely. There are not only some funds that rushed out yesterday, but also some that have not escaped. If there is a continuous plunge, they will not be able to sell. It is normal for there to be a selling market to repair the rebound." Wu Peng continued.
"If funds flow to blue-chip stocks again, will it have an impact on small and medium-sized start-ups?" Xu Jianqing asked.
Today, Gu Junhao appeared in the trading room as usual. His current position is relatively low. Without confirming to buy back the original chips, Gu Junhao will still pay more attention to the situation of some funds to ensure that the two funds can smoothly pass through the adjustment period.
"There will definitely be some impact, but it shouldn't be that big. The ChiNext rebounded significantly yesterday afternoon. It's impossible for all the new funds to run away in one trading day. They have to make some money first."
Today, Tonghuashun and Yinzhijie followed the index and opened slightly higher. Only Dongfang Fortune performed exceptionally well. Today, it opened lower, with its share price at 44.50 yuan, down slightly by 0.1 yuan.
Once a stock is targeted by hot money, its stock price will always experience large fluctuations, regardless of whether it is small or medium-sized stocks such as Dafu Technology and Hailanxin that have been operated before, or heavyweight stocks such as Dongfang Fortune and Zhongguo Jiaojian.
At a time when trading volume is not particularly large, hot money still has a certain influence on blue chip stocks and can control the trend of some blue chip stocks; this is the case with the person who became famous on the magic car.
Gu Junhao has had a lot of contact with hot money during the trading process.
Except for some one-day hot money and hot money like Zhu Rourong who specialize in taking over the business, the trading cycle of most hot money is calculated on a weekly basis. Under this case, the life cycle of the stock price will be relatively longer.
Some hot money is more adventurous and will use the method of supporting each other and buying and selling continuously to make profits in the process. They will then sell the stocks at a slow decline when the stock price is high, and occasionally make a last-ditch effort to pull up the stock price depending on the situation.
When encountering this part of hot money, ordinary retail investors who are keen on short-term trading will not suffer big losses as long as they set stop losses and remain vigilant. After all, short-term trading means high risks, and it is impossible to avoid losses at all, so you have to be mentally prepared.
Gu Junhao in later generations rarely saw the practices of the Shanghai Gang. This kind of practice of eating alone, entering together and exiting together, causing the stock price to fluctuate greatly, resulting in most buyers having few opportunities to escape, is actually very annoying.
Some related seats swarm into a stock, especially small and medium-cap stocks, which is actually suspected of manipulating the stock price. What's more, the Shanghai Gang prefers to eat alone, and when they enter the stocks, you basically don't see any hot money other than themselves buying in large amounts.
If it weren't for the adjustment of the overall market and Gu Junhao's sudden release of the pledge, it is unknown to what extent this group of people would have pulled the adjustment from November to December last year. Perhaps, under their operation, Tong Huashun would have been able to achieve the expected market conditions for the whole year in just one or two months.
In that case, they will make all the profits and leave the whole place in a mess.
When the official trading started, Dongfang Wealth saw funds rushing ahead. In the first few transactions before the opening, three large orders totaling more than 66 million yuan appeared in succession to smash the market. The opening price also fell rapidly. At the same time, the ChiNext Index opened high and continued to rise.
"These are the funds that were trapped yesterday, and there are also funds from the Shanghai gang that have not yet run away. It seems that Dongfang Wealth's performance today is not going to be very good." Gu Junhao said with a smile. This is good. You can invest more and I can save myself some trouble.
Dongfang Fortune, whose opening price was the highest price, opened low and continued to fall without any rebound. As one of the heavyweight stocks in the ChiNext, its trend direction was completely opposite to the index. The Shanghai Composite Index also started to rise after a slight fluctuation that did not break 3100 points.
The insurance sector rebounded today. As the sector with relatively outstanding performance among the three major financial sectors, unlike securities companies that faced direct negative news, the insurance sector was relatively the one that was wrongly killed yesterday.
And CNR, which was clearly confirmed to have been wrongly killed yesterday, also rebounded sharply as expected.
By ten o'clock, Tonghuashun's increase had approached 3%. Yinzhijie, the strongest stock in this round of rebound, had increased by 7.93%, and its share price closed at 64.22 yuan.
Yinzhijie has completely recovered yesterday's long upper shadow line, and the stock price has rebounded, while the ChiNext Index has also risen by about 2%.
Dongfang Wealth’s share price was 42.33 yuan, down 5.09%.
There are three stocks and three forms, but in summary, the forms, including the index, have their similarities.
That is, whether it goes up or down, it will fluctuate around the yellow moving average price of the day.
The trend along the daily average trading line shows that the trading volume is still relatively stable, with no signs of expansion. If a large volume bursts out in a short period of time during the trading session, the possibility of a sharp rise or fall is very high.
But for Dongfang Wealth, this steady decline is the most dangerous.
"The trends of these stocks today are a bit extreme. It looks like a 5% drop in Dongfang Wealth is not considered a big drop. It has been moving downward along the daily moving average and has not started to fall yet."
"Indeed, there is a high probability that Dongfang Wealth will suffer a sharp drop today. If so, it will fall below the five-day line. By then, we don't know when it will adjust again."
"Well, we need to pay attention to one thing. Dongfang Wealth is, after all, a heavyweight stock on the ChiNext. It has been going against the market trend. Although there is a component of hot money, hot money cannot fully control it after all. We still need to pay attention to the trend of the ChiNext."
"Let's wait and see. With today's trend, it's definitely not suitable for bargain hunting. Let's wait and see when the market is about to close."
Afterwards, Gu Junhao no longer paid attention to the development of Dong Fang’s wealth.
The Shanghai Composite Index is currently in a red market with slight fluctuations. The insurance sector, one of the three major financial sectors, some sectors of the central bank, and the home appliance sector led by Gree maintain the index.
The brokerage firms that all hit the daily limit yesterday still performed very badly today. Xibu Securities continued to open lower in the morning, with its share price at 28.40 yuan, a sharp drop of 9.47%. After slightly touching the daily limit in the morning, the share price did not hit the daily limit again.
However, the rebound was not large, the trend remained sluggish, and the overall sector maintained a decline of around 3%.
Xibu Securities always maintained a range of fluctuations below 5%, and Huanghe Securities also opened with a sharp drop of 6.25%. At this time, the stock price remained fluctuating around 13 yuan.
"It has fallen by more than 15% for two consecutive days. This position is close to the price around 2974 points. It is not impossible to buy it back."
Gu Junhao sighed after analyzing for a while.
After a series of sharp declines, stock prices will naturally adjust by exchanging time for space. Ordinary investors may not be able to withstand this adjustment and end up making more mistakes.
But for Gu Junhao, the timing of this shock is not a problem at all, as he has enough patience to wait.
The lowest price of Huanghe Securities in the morning was around 12.90 yuan, which was only about 1 yuan away from its 60-day line.
The price of 1 yuan can be completely digested after a few trading days of rebound if the index stabilizes.
So this may also be a temporary low point for the securities sector.
After several analyses, Gu Junhao finally felt that it would be completely fine to buy at the bottom when the brokerage firm's stock price plummeted again today.
As for the Chinese-character stocks that rebounded slightly today, it is a bit inappropriate.
A rebound in the absence of sufficient volume will not have much effect.
Thinking of this, Gu Junhao also said to Cao Wenxun and Liu Tingting: "In this case, you two should copy the brokerage firms back. For Huanghe Securities, increase the position to 50,000 lots. As for Xibu Securities, increase the position to 20,000 lots. In this way, the No. 1 Fund's holdings will be more evenly distributed."
Xibu Securities is a brokerage firm with a number beginning with 002. This round of bull market is mainly a bull market for small and medium-sized innovative stocks. The current price is around 29 yuan, so it is definitely worth a try.
If the position is increased to 20,000 lots, 14,000 lots will be purchased today, with a volume of about 40 million yuan, which Xibu Securities can easily digest.
In this way, the holdings of the three stocks also maintain a certain balance. Unless there is a big drop or rise like yesterday, the market value fluctuation will not be large.
As for Yellow River Securities, its trading volume was too large, and the increase in the later period was actually very limited.
However, there are currently no good stocks to rebuild the position in. After adding positions, the total number of Yellow River Securities is 150,000 lots, so I'll just have to make do with it.
You can find an opportunity to add part of the remaining funds to Dongfang Wealth.
Dongfang Wealth's trading volume has increased and its stock price trend has not yet completed, so its future is brighter than that of Yellow River Securities.
Trading is ongoing, and the rebound trend of the Shanghai and Shenzhen stock markets is good, with all sectors except the securities sector seeing good gains.
Theme stocks continued to surge, and the ChiNext Index set new highs one after another.
By midday closing, the ChiNext Index rose 3.11% and closed at 1680.68 points.
After the afternoon trading began, the securities sector, which had been fluctuating at a low level throughout the day, plunged again. During the same period, Dongfang Wealth also plunged sharply.
After entering 2015, Dongfang Wealth's trend seems to be closer to the securities sector, and it is no longer simply a component stock of Internet finance or even high dividend and bonus concepts.
At 13:15, Dongfang Wealth's share price fell sharply to 40.14 yuan, hitting the limit down for the first time that day.
Xibu Securities also approached the price limit again during the same period, and Huanghe Securities once created a performance of 12.65 yuan, a sharp drop of 7.51%.
Affected by the securities firms' renewed plunge, the Shanghai Composite Index turned slightly green, and the ChiNext Index, which had soared during the day, also fell slightly during the same period. However, Yinzhijie hit the daily limit at this time, with its share price at 65.45 yuan.
The price of 65.45 yuan, excluding the ex-rights price, is already 75% higher than the historical high of 37.30 yuan set by Yinzhijie in 2011.
Compared with the price of 33.90 yuan on the first trading day of this year, it has almost doubled.
There are only 12 trading days in the new year, and Yin Zhijie is about to double his profits.
Small and medium-sized growth stocks are so crazy under the hype of the concept. Who could have imagined such a result 12 days ago.
However, today's Yin Zhijie's closing structure is not very good.
Perhaps due to the influence of the overall market, or perhaps because the stock price rose too high and too fast, Yinzhijie opened the daily limit eight minutes after the daily limit was reported, and there were continuous large sell orders.
"Let's wait and see. If it doesn't close at the end of the trading day, we'll wait and see tomorrow to see if there will be a position that will eat up the long upper shadow line. If it does, we'll sell 3,000 lots." Gu Junhao said to Wang Ruoyu.
For Yinzhijie at this stage, the continuous bad rebounds at high levels are not a good trend at all. On the contrary, a small positive line rising along the five-day line like before would be better.
If it cannot recover, Yin Zhijie will not deviate too far from the five-day line, and we can completely wait and see the trend later.
If the price continues to close, the trend will accelerate, and acceleration sometimes means the end of a stage.
And those who can recover are nothing but hot money, so Gu Junhao has no psychological pressure to cut them off once.
As the stock price changes, Gu Junhao is constantly adjusting his holdings.
This can only be discovered by watching the market. If you don't watch the market in real time, it will be difficult to achieve this level.
As for Dongfang Wealth, although it is currently close to the limit down, Gu Junhao still does not plan to buy the bottom immediately.
Since Dongfang Wealth's trend is moving closer to securities companies, it is completely insufficient to adjust to near the five-day line.
You know, Huanghe Securities has fallen to near the 60-day line, and Xibu Securities has also fallen below the 30-day line.
The sharp drop in the stock prices of these two brokerage firms did not affect Gu Junhao's bottom-fishing plan. Relatively speaking, it was able to further save the bottom-fishing costs of Liu Tingting and Cao Wenxun, which was a good thing in a sense.
After a full day of trading, Liu Tingting bought 14,000 lots at an average price of around 28.80 yuan, while Cao Wenxun bought 50,000 lots of Yellow River Securities at an average price of 12.80 yuan.
The two stocks closed at 28.94 yuan, down 6.92%, and 12.97 yuan, down 4.63%, respectively.
Theme stocks have not been affected by the plunge of brokerage firms and are still rising continuously.
The ChiNext Index continued to rise after a brief correction. At the same time, the Shanghai Composite Index also turned positive again.
At 14:30, Yinzhijie closed again and the rise of the ChiNext Index began to accelerate, with the index moving towards 1,700 points. This was a historic moment for the ChiNext.
Wang Ruoyu followed Junhao's instructions and sold 3,000 lots, recovering more than 19 million yuan; the after-market Dragon and Tiger List showed that this sale also made Junshi No. 1's selling position appear above the third selling position.
On Yinzhijie's after-market Dragon and Tiger List, all the positions from the second to the fifth selling positions are institutions.
The best-selling street was Liyang Road, which sold for 24.7477 million yuan today.
In this round of rebound in small and medium-sized enterprises, the Shanghai Gang is omnipresent.
However, this time, Liyang Road, also a harvester, seemed to be attacking alone.
The top five buying seats were scattered across the country, and the trading volume was not large enough. The Guojun proprietary trading seat, which ranked first in buying, only bought 8.5458 million yuan.
The net outflow of the Dragon and Tiger List of Yinzhijie throughout the day was close to 30 million yuan.
At the end of the day's trading, affected by the large-scale purchase of more than 2 billion yuan by northbound funds, especially foreign capital, the Shanghai Composite Index rebounded quite well, rising 1.82%, basically recovering the entity position of yesterday's negative line.
The ChiNext Index rose sharply at the end of today's trading, creating history. The stock index broke through 1,700 points and closed at 1,700.85 points with a turnover of more than 62.5 billion yuan throughout the day. Small and medium-sized growth-themed stocks rose sharply.
As for Dongfang Wealth, it failed to maintain its stock price trend in the late trading. The stock price ended today's trading at 40.15 yuan, down 9.98%, just one cent higher than the limit price.
After yesterday's big drop, Dongfang Wealth was one of the only few stocks that closed in the green; and today, it became one of the few stocks on the market that closed in the green.
The post-market Dragon and Tiger list also shows that the main force behind today's market crash is still the Shanghai gang. Judging from today's selling volume, it should be almost done.
There is no sign of Ah Fu on the Dragon and Tiger list, so he must have sold out yesterday.
Entering Wednesday, influenced by yesterday's stop in decline, both the Shanghai and Shenzhen stock markets opened higher.
Following yesterday's insurance rebound, banks continued their efforts today and the insurance sector did not stop either.
The securities sector performed better today than yesterday and was in a stabilizing state in the early trading.
The total inflow of Shanghai-Hong Kong Stock Connect yesterday exceeded 2.5 billion yuan, and it continued to maintain a large inflow today.
The Shanghai Composite Index has maintained a high-profile stance since its opening, and the bull market seems to be back.
A crash in a bull market is like a one-night stand, short and passionate, and it ends just like that.
Since the rebound signal was sounded in the early trading session, the shadow cast by the plunge on investors has become increasingly lighter, and investor sentiment has been mobilized again.
In the afternoon, the stabilized brokerage sector began to rebound, leading the stock index to start a riot.
The Shanghai Composite Index regained its footing at 3,300 points, with the increase once exceeding 5%. The Shenzhen Component Index was not to be outdone, surging 3% during the session and firmly standing at 11,000 points.
"Dongfang Wealth's current trend is really following the securities companies. When the securities companies rioted in the afternoon, he also rioted. Haha, it seems that he can no longer be considered an Internet finance company."
Looking at the rising Dongfang Wealth, Gu Junhao also smiled.
However, this kind of volume-reducing pull-up seems to be useless. Although the stock price has risen a lot, it still has not been able to regain the five-day line.
Unless there is a daily limit increase today, the adjustment will continue.
Funds are returning to the large-cap industry, which naturally has a significant impact on small and medium-sized start-ups. The ChiNext Index, which surged yesterday, had a very limited gain today.
The stock price of Yinzhijie fluctuated by only 6% throughout the day, with both the increase and decrease remaining at around 3%. The trading volume gradually decreased compared with the previous trading days.
In fact, Yinzhijie, which hit the daily limit yesterday, had already seen a decrease in trading volume compared to the previous trading day. The stock price was pulled up to the daily limit with a decrease in volume, and so much large capital ran away.
As funds return to blue-chip stocks, the stock price has clearly bottomed out.
The same is true for Tong Huashun. Tong Huashun turned green today, and the stock price fluctuation range remained at around 5%.
The phased adjustments of small and medium-sized enterprises are about to begin.
After a day's trading, the Shanghai Composite Index surged 4.74%, returning to above 3,300 points at 3,323.61 points, and the ChiNext Index rose slightly by 1.28%.
The market trend basically conforms to Gu Junhao's judgment and has appeared in the trading room for three consecutive days. It is time to let the traders make their own decisions again.
After the market closed, Gu Junhao said after concluding today's review meeting: "It seems that the market is basically stable in the future. We should still increase our positions to 90% by the end of January as planned, and add the excess funds to Dongfang Wealth."
