Chapter 308: Two Fund Performances That Dazzle the Eyes
April 20, 2015 is a day that will definitely go down in history for A-shares. Today, the Shanghai Composite Index's daily trading volume reached 1.14 trillion yuan, a first in the history of A-shares.
Of the trading volume exceeding one trillion yuan, CNR and CSR contributed a total of more than 59.1 billion yuan. CNR's share price hit a high of 42.29 yuan today and finally closed at 37.61 yuan, down 2.21%.
On the list of top sellers of CNR, the boss of Shaocheng Securities Sales Department ranked second in sales, with a total sales of more than 639 million yuan. That is to say, within one day, the boss sold more than 1 billion yuan in total in CNR and CSR.
The plunge in the share prices of CNR and CSR has dealt a particularly heavy blow to market sentiment and retail investors. Many retail investors suffered losses today. Among the all-in investors, all-in investors saw losses as CSR entered the market this afternoon.
Li Ze bought at the highest point in the afternoon and lost more than 8% in one day. Although he only bought less than 100,000 yuan, he still lost more than 8,000 yuan. However, Tong Huashun rose 4.32% today. Overall, Li Ze still made a lot of money.
"Damn it, I'm no longer suitable for short-term trading. I got beaten when I tried again after a year!" Li Ze said depressedly after the market closed.
"I had a big bowl of noodles today, luckily I only bought a little."
"Will there be a rebound tomorrow? I added a little more to my position at the end of the trading day."
"Let's just say it rebounds. Today's transaction volume is over 30 billion. Where can we get so much money to rebound tomorrow?"
"Haven't you seen that all the funds have flowed to these low-priced mid-cap stocks? How can there be a rebound? You are actually adding to your position."
"Hey, do you want to cut the meat again~"
"I'm not sure if I can run tomorrow."
In the afternoon, not only did CNR and CSR plunge sharply, but the financial sector also plunged sharply. The securities sector, which had performed mediocrely in the morning, continued to plunge in the afternoon along with CNR and CSR. Xibu Securities fell 4.74% today.
However, the performance of Yellow River Securities was somewhat unexpected. After seven consecutive trading days of adjustment, Yellow River Securities went against the sector today. When the overall sector plunged in the afternoon, the share price of Yellow River Securities rose against the market trend.
In the end, Huanghe Securities rose by 3.37%, with a positive line with upper and lower shadows, which not only stood firm on the 20-day line but also penetrated the five-day line and the ten-day line.
The trend of Yellow River Securities today was particularly strange. When the index and the sector were rising, it went against the market trend. This made Gu Junhao particularly concerned. A stock that had been following the trend of the sector suddenly went against the market trend. Its performance was definitely not normal.
I don’t know whether it was affected by today’s sharp fluctuations in the stock market or for other reasons, but on the evening of April 20, the central bank announced that it would lower the reserve requirement ratio for RMB deposits of all deposit-taking financial institutions by 1 percentage point starting today.
This is the first general cut in the reserve requirement ratio this year, releasing trillions of yuan of liquidity to the market at one time.
The central bank responded so quickly that it shows how much importance it attaches to the stock market during this period. The release of trillions of yuan in liquidity also provided a good foundation for market stability.
On April 21, the Shanghai Composite Index opened slightly lower and touched the five-day line. The ChiNext Index, which fell 1.59% yesterday, opened nearly 20 points higher at 2443.12 points. Dongfang Wealth still opened with a daily limit.
Since its resumption of trading, Dongfang Fortune has had three consecutive one-digit daily limits, and its trading volume has always remained below 30 million yuan. Funds in the market are reluctant to sell. Today is Dongfang Fortune's fourth one-digit daily limit, with the share price at 43.08 yuan, which has exceeded the closing price before the ex-rights price.
Zhongguo No. 1 Heavy Industry, which grabbed the leading position among low-priced Chinese-character stocks yesterday, also opened with a daily limit, and its share price has reached 9.60 yuan.
Compared with the strength of First Heavy Industries, both CNR and CSR, which plunged yesterday, opened sharply lower. CNR and CSR opened at 34.10 yuan, with a share price down 3.75%, dealing a heavy blow to investors who entered the market yesterday.
"Fuck, it opened so much lower? Should I run?"
"It's still above the five-day line. A strong market maker won't go below the five-day line. There should be hope, right?"
"It's time to cut it. There's no way to save this trend."
"What did Li Kuang say?"
"I cut my losses and lost more than 10,000 yuan. I won't do it anymore. I'm scared." Li Ze said depressedly. In fact, his order had not been executed yet. He just placed the order at a price of 34 yuan.
At 9:25, transaction data showed that Li Ze's 2,500 shares of Zhongguo CSR were traded at the opening price of 34.10 yuan. In half a trading day, the loss was 13.4%.
In the trading room of Junshi Capital, everyone was also discussing the trend of CNR and CSR. As the most popular stocks in the two markets, coupled with yesterday's liquidation, it is difficult for them to be ignored.
Ever since Gu Junhao liquidated his holdings in Yinzhijie and Zhongguo Jiaojian, the five traders have not dared to increase their positions on a large scale, for they were always afraid that one day Gu Junhao would decide to liquidate one of the holdings. However, everyone could see that Mr. Gu had already re-planned his positions.
Gu Junhao is certainly not optimistic about the future performance of CNR and CSR, but it should be possible to escape at a secondary high point, which is a normal trend.
"The main institutions must not have sold all their stocks. The decline for a few days will form a secondary high K-line trend, leaving retail investors with the illusion of a rebound and giving those who are trapped the possibility of getting out of the trap. This should be a normal trend."
You always have to give people a little hope so that you can trap more people, and it will also be more convenient for you to ship your goods in the process.
After the official trading started, the share prices of CSR and CSR plummeted rapidly. As soon as the market opened, up to 700 million yuan of funds chose to buy CSR and CSR. The share price plummeted to 32.54 yuan, down 8.03% on the day.
Funds in the market fled, causing huge fluctuations in stock prices; corresponding Chinese-character stocks and the Shanghai Composite Index were also affected by the huge fluctuations in CNR and CSR. At 9:36, after rebounding to 33.85 yuan, CSR fell again rapidly to a drop of more than 7%.
Subsequently, starting from 9:45, CSR's rebound wave after wave was lower than the last. The stock price was officially reported at the lower limit of 31.84 yuan at 10:12. A huge amount of orders appeared above the lower limit price, and there was no chance of the stock price opening.
"It's over. It's obvious that CNR and CSR have reached their peak. I don't know how many people will be killed." Gu Junhao couldn't help but sigh as CNR and CSR quickly closed their markets.
In the morning session, the Shanghai Composite Index fluctuated violently due to the influence of CNR and CSR, and the index fell below 4,200 points twice. However, with the limit down of CNR and CSR and the re-closing of stocks such as Zhongguo First Heavy Industries, the index gradually entered a stable stage.
Liquor, brokerage and other sectors have become important weapons to maintain the index. After Wuliangye opened high in the morning, its stock price rose by more than 3% at one point. Xibu Securities, which fell sharply yesterday, performed well in the morning today, and its increase has reached more than 7%.
At 10:20, the securities sector collectively exploded, with funds of up to 350 million yuan pushing Xibu Securities straight up to 61.93 yuan, a 10% increase, and Huanghe Securities rose nearly 3%.
Xibu Securities' first closing of the board also brought a lot of attention to securities companies. With the support of heavyweights such as securities companies and liquor, the Shanghai Composite Index turned positive again.
However, the trend today is on the ChiNext. The ChiNext Index opened higher and continued to rise in the morning. A series of constituent stocks rose rapidly. By 10:30, the increase had reached 3.11%, re-standing above 2,500 points.
Dongfang Wealth is still firmly capped at the single-digit board, and Tonghuashun has also ended its adjustments over the past few days, rising by 7% in the morning session and now fluctuating above the daily moving average. The stock price was 146.66 yuan, up 4.98%.
At 11 o'clock in the morning, Wuliangye, which had completed its adjustment, began to rise and closed at 27.41 yuan at noon, with a share price increase of 4.74%.
Huanghe Securities, which has performed generally recently but had unusual movements yesterday, also achieved a daily limit like Xibu Securities. The share price was 18.92 yuan. In the morning, Huanghe Securities' transaction volume exceeded 7 billion yuan, which was higher than the transaction volume of yesterday.
During the lunch break, Gu Junhao was also thinking about the performance of the market today. The One Belt One Road concept has seen a large-scale correction today, with funds returning to the big financial sector and attacking undervalued sectors such as liquor. It seems like a rotation, but in fact it is a desperate move.
Almost all sectors that can be hyped have been hyped up. There are many stocks with Chinese characters in their names and major heavyweights that have increased several times in value. The market value of heavyweight stocks is already ridiculously high, not to mention small and medium-sized growth stocks.
Even a super-large brokerage firm like Huanghe Securities has only today officially broken through last year's highest point. The adjustment period has exceeded 4 months. With the subsequent deleveraging and reduction in financing, there is nothing to be nostalgic about.
Thinking of this, Gu Junhao said to Cao Wenxun: "Clear all the shares of Yellow River Securities this afternoon, leaving no one behind."
"Ah? Was it cleared today? It was cleared just after a new high?" Cao Wenxun said with some surprise. Fortunately, he did not do T today because he was afraid that Mr. Gu would have the idea of clearing his inventory. Honestly, in Cao Wenxun's opinion, the current trend has already risen to an outrageous level.
"Well, it's cleared today. The transaction volume of this ticket is too large, and there should be limited room for follow-up. So let's leave it at that." Gu Junhao nodded.
"Then boss, what about Xibu Securities? Since Yellow River Securities has cleared out, do we have to clear out Xibu Securities as well?" Liu Tingting couldn't help but ask.
"As for Xibu Securities, wait two days. Small tickets are more active. Today, this board has not reached its last high. It should reach a new high. You can clear it then. But don't do T in the next few days."
"Oh, okay." Liu Tingting nodded, and then sighed: "I really didn't expect that a brokerage stock could rise almost seven times."
Based on the initial opening price of 10.50 yuan, Xibu Securities has increased nearly six times to today's price of 61.93 yuan, and the boss is optimistic that it will continue to set new heights, which means that the share price of Xibu Securities will be above 70 yuan.
Clear all positions above 70 yuan, the increase of one brokerage stock alone is nearly 7 times, not to mention the fluctuations in the middle, and it has been less than a year, the market has really become crazy to a certain extent.
"The market has gone crazy to a certain extent. Everyone should stop doing intraday T in the next few days. I may clear my positions at any time." Gu Junhao continued to say to everyone.
"OK."
"clear."
In the afternoon, while Cao Wenxun liquidated his holdings in Yellow River Securities, the liquor sector continued to rise. Maotai Liquor was the first to close the board, with its share price at 257.43 yuan. Wuliangye rose by more than 7%, with its share price breaking through 28 yuan.
It was a very cheap price, but unfortunately Gu Junhao had other plans for Junshi No. 1, so he said to Wang Ruoyu, "Clear out Wuliangye at a price of more than 28 yuan."
Wang Ruoyu was obviously stunned. Wuliangye had only bought it for a few days, and the boss wanted to clear out the stock. However, she still firmly cooperated with Gu Junhao's thinking and answered, "Okay."
With such a large-scale liquidation, everyone has now clearly understood that Gu Junhao is already bearish on the market.
Junshi No. 1 is not far from the end of its one-year closed period, and its net value is already so high, so it is likely that it will reap the fruits of its labor.
In fact, everyone's idea was not wrong. Gu Junhao did have plans for early settlement. If nothing unexpected happened, when Dongfang Fortune opened the board, Junshi No. 1 would carry out the final liquidation and start settlement.
The plan for clearing out Wuliangye today is also to do so. In a few days, when Xibu Securities performs poorly or rises beyond expectations, the liquidation will also be carried out.
After Wuliangye’s stock price reached above 28 yuan, it has been in an upward trend. The highest price reached 28.45 yuan throughout the day and finally closed at 28.06 yuan, up 7.22% on the day.
Maotai Liquor Industry has never opened the daily limit since it set it. A leader is a leader. Even if it is temporarily led by other stocks, its value will naturally be reflected at the critical moment.
Today, two Junshi funds once again liquidated one stock each. Wang Ruoyu liquidated 65,000 lots of Wuliangye at an average price of 28.10 yuan, and a total of more than 182 million yuan was recovered.
In less than half a month since Wuliangye established its position before the Qingming Festival, its total profit has exceeded 30 million yuan. In less than half a month, it can be considered a short-term transaction for Gu Junhao.
In the afternoon, Huanghe Securities sold a total of 473 million yuan at the upper limit price, and its profit on the 108 million yuan position building cost was more than four times.
The performance of the Shanghai and Shenzhen stock markets today can be described as crazy. The ChiNext Index rose by more than 5%, and stocks that hit the daily limit can be seen everywhere on the market. Tonghuashun also hit the daily limit today, with its share price reaching 153.67 yuan.
Although Li Ze lost more than 10,000 yuan on CSR, the 5,000 shares of Tonghuashun he retained generated nearly 70,000 yuan in profits for him, which made him feel a little comforted.
"Oh, Tonghuashun is still better. Just hold it. I should have reduced my position earlier. I bought other stocks and got cut again." After the market closed, Li Ze complained in the group, but this kind of complaint was somewhat boastful.
Tonghuashun's surge is closely related to its annual equity distribution plan announced on April 18. According to the announcement, Tonghuashun will officially implement a cash dividend of 0.8 yuan per 10 shares on April 24, and a 10-for-10 stock split.
Tonghuashun's conversion was nearly 20 days earlier than last year, when it was on May 16, while Dongfang Wealth's conversion was even earlier. From this, it is not difficult to see the changes in the current market conditions of major funds.
Judging from the performance of stock conversion, most people generally choose to sell before the conversion. Gu Junhao usually does the same. However, this time Tonghuashun's 10-for-10 stock conversion is one of the reasons for its renewed speculation on high dividends and conversions.
After the stock conversion, with the hot market, Tonghuashun still has room for speculation, not to mention that Dongfang Fortune's daily limit has not yet been opened, and today's transaction volume was only 20 million yuan, with no increase in volume.
After the stock conversion, Tonghuashun's trading volume will inevitably reach a new level as its share capital increases and its price drops, which will make it more convenient to ship goods. With a dividend of 0.8 yuan per share, Gu Junhao will also be able to get more than 100,000 yuan in profits, although it is all his own.
As for paying taxes, just pay some. Good things can't be taken by one person alone. Moreover, you have held the shares for more than half a year, so there will be a preferential tax rate.
On April 22, Xibu Securities, China First Heavy Industries, Dongfang Fortune and Tong Huashun, which have not yet reduced their holdings, all hit their daily limit. The share price of Xibu Securities was 68.12 yuan, only 0.77 yuan away from its previous high.
On Thursday, April 23, Xibu Securities opened at 70.80 yuan, setting a new historical high. After 15 minutes of fluctuation, it rose again. At 10 o'clock, the stock price was 71.99 yuan, up 5.68%.
"The volume that can be used to push up the price is getting smaller and smaller. Let's start selling. It will be considered that his mission has been completed." Gu Junhao said to Liu Tingting with a smile.
Junshi No. 1's stock holdings were reduced little by little, but Gu Junhao had no attachment. Stocks were bought in order to be sold, and it was time to sell when his expectations were met.
Xibu Securities surged twice in the morning, with the stock price reaching a high of 74.50 yuan. The trading volume and turnover rate both reached a new high in the morning. Liu Tingting sold 25,000 lots of Xibu Securities with all her strength.
Finally, all holdings were sold at a price of around 72 yuan, with a total of 180 million yuan in funds recovered. Since then, Junshi No. 1 has only one remaining stock, Dongfang Fortune, which has not yet been delisted. Today, Dongfang Fortune achieved its sixth daily limit since its resumption of trading, with its share price at 52.13 yuan.
Currently, Junshi No. 1 holds a total market value of more than 290 million yuan in Dongfang Wealth and more than 444 million yuan in cash, with an overall scale of more than 736 million yuan, which is terrifying.
After breaking through 4,400 points yesterday, the Shanghai Composite Index paused today, barely rising 0.36%, while the ChiNext Index continued its high-speed advance today, rising 2.06%. The index also broke through 2,700 points, closing at 2,706.19 points.
Since surging by more than 5% on Tuesday this week, the ChiNext Index has maintained its high-speed growth trend, for which Dongfang Fortune and Tonghuashun have made indelible contributions.
After Tonghuashun hit two consecutive daily limit increases, it paused today due to the ex-rights issue tomorrow. After hitting a new historical high of 181.87 yuan, the stock price began to plunge and finally closed at 168.19 yuan, ending today's trading with a drop of 0.5%.
However, although the stock price has plunged sharply, the trading volume and turnover rate have not increased much. The trading volume is only 200 million yuan higher than yesterday, and the turnover rate is only 0.5% higher, indicating that most funds are still optimistic about its subsequent speculation space.
As for Dongfang Fortune, the GEM's largest stock by market value, it was able to pull out six consecutive one-digit boards after resuming trading. This is completely impossible in the future. It has to be said that this is very 2015.
On Friday, April 24, the Shanghai Composite Index closed down slightly, and ultimately closed up 2.48% for the week, while the ChiNext Index rose again by 1.06%. Except for Monday, the ChiNext Index maintained a big upward trend every day throughout the week.
The ChiNext Index set a new weekly record with ten consecutive positive days. After pausing last week, it dazzled investors with a weekly increase of 10.99% this week.
Dongfang Wealth achieved its seventh straight-line gain, with its share price closing at 57.34 yuan, while Tonghuashun's final price after the ex-rights was fixed at 84.06 yuan. After opening at 79.99 yuan today, Tonghuashun rose straight from the opening, setting the tone for today.
As expected, Tonghuashun ended this week's trading with a daily limit while its trading volume increased to 2.14 billion yuan. It had three daily limits in a week, which was perfect.
The closing price of 92.47 yuan actually needs to be multiplied by 2. Without taking into account dividends, the actual share price of Tonghuashun has reached 184.94 yuan. After the ex-rights price, Gu Junhao's total holdings became 32,000 lots, with a total market value of over 295 million yuan.
With the increase in equity and stock price, the fluctuation in Tong Huashun's account was close to 3 million yuan for every increase or decrease in the share price. The performance of the big capital account was terrifying.
What was even more terrifying this week was the performance of two Junshi funds. Among them, the performance of Junshi No. 2 was the most exaggerated. Junshi No. 2 had at least one heavily-weighted stock that hit the daily limit every day within a week, while locking in profits and achieving a total scale of an astonishing 2.195 billion yuan.
This is 627 million yuan higher than last week's 1.568 billion yuan, thanks in large part to Zhongguo First Heavy Industries' 56.24% surge in one week. With a holding of 900,000 lots, the market value of Zhongguo First Heavy Industries' holdings exceeded 1.117 billion yuan.
The market value of Dongfang Wealth, which has been on the rise for seven consecutive days since its resumption of trading, has reached over 480 million yuan. As of this weekend, the net value of Junshi No. 2 has soared from 3.1372 last week to 4.3904 this week.
The performance of Junshi No. 1 is not much inferior to that of Junshi No. 2. The overall scale has increased from over 600 million yuan last week to over 765 million yuan this week, with a net value rate of 19.1328.
Once the performance of the two funds was announced, it caused an uproar in the market. Although this week's market conditions were indeed terrifying, no one expected that the two Junshi funds would rise so much.
"What the hell, what did I see? One of the two funds rose 27.5% in a week, and the other rose 39.98%?"
"Damn it! This is too scary. The two funds made a total of nearly 800 million in one week. The investors must be grinning from ear to ear, right?"
"Could it be that Brother T had deposited all his money into the magic car before this week? Otherwise, how could it have increased so much?"
"It can't be called a magic car now, it has to be called a hearse. It's so tight, maybe Brother T really bought a hearse and sold it at a high price."
"So we were killed by Brother T? Didn't you see how many institutional seats were being sold? It was Old Zhao who was killing us. Old Zhao smashed nearly 1.6 billion yuan in the two-day Dragon and Tiger List of CNR and CSR."
"Even if Brother T didn't get into the hearse, he should have gotten into one of the other Chinese characters. The Chinese characters have been going crazy this week."
"Everyone seems to have forgotten a stock, that is Dongfang Fortune. Is it possible that Brother T holds a large position in Dongfang Fortune? Before, everyone has been guessing that Junshi No. 1 holds a large position in Dongfang Fortune."
"Fuck! If you hadn't told me, I would have forgotten about this stock. It was suspended for more than a month and then resumed trading, and now it's been trading at the same level for seven days?"
"The ChiNext's largest market capitalization stock resumed trading with seven consecutive daily limits. This is outrageous! This is outrageous!"
"The only stock that can compete with Dongcai in consecutive trading is Baofeng Technology, which has 23 consecutive trading days. What a coincidence, it is also a GEM stock."
"Can Baofeng Technology be compared with Dongfang Wealth? How big is the market value of Dongfang Wealth, and how big is the market value of Baofeng Technology?"
"Check, check, check! These idiot investors are taking advantage of the situation. The stock price has remained flat since the resumption of trading, and they are asking us to take over the shares like a hearse."
