Chapter 383: The halo fades, and it’s time to go into battle lightly!
In a Starbucks coffee shop in a certain city, a middle-aged man was staring at the interface of the mobile phone in his hand. Although he was dressed appropriately, his expression clearly showed a bit of decadence.
I have been unemployed for nearly two months. No matter whether it was some friends I contacted before or several new resumes I sent out, even if I have lowered my requirements, all of them fell on deaf ears.
Yes, as a fund manager who almost liquidated the fund, the current market environment is not good. It will definitely be very difficult for me to find a good job in a short period of time.
Wang Yanbin has been staring at the screen of his mobile phone for several minutes. The interface shows the stocks held by Junshi Value Investment. Looking at these newly listed stocks, Wang Yanbin feels unwilling.
In just a few days, I will be able to come back to life and the market will rebound. The vanguard of the rebound will be the small and medium-sized start-up stocks. Although I am not as good as this young Mr. Gu in terms of specific stock selection, his overall idea is not wrong.
In Wang Yanbin's view, he was only a few days away from the final turnaround, and with the stock market crash at the beginning of this year that more than halved the market, no one could escape the downturn.
However, from Gu Junhao's holdings, Wang Yanbin also realized that his holding style was still a bit radical. If he had allocated some stable large-cap stocks like Gu Junhao did, perhaps this would not have been the case.
At the same time, I also admire Gu Junhao's trading style. Both the timing and the selection of sectors are very accurate.
Closing in the green for 29 consecutive trading days is something not everyone can do.
Wang Yanbin knew deep down that it was difficult to find a suitable job in a short period of time, but even if he didn't work for a year or two, it wouldn't affect his life given his wealth.
The reason I submitted my resume was just to see how the circle would treat a down-and-out fund manager.
As a result, it turned out to be what I wanted.
"Perhaps, trying Junshi Capital is also a good choice? I just wonder if the young Mr. Gu dares to hire me?" Wang Yanbin thought secretly.
Recognizing his own shortcomings, Wang Yanbin was able to adjust his mentality in time. If he could study under Gu Junhao for a period of time and see his trading techniques, it might have some changes in his career.
…
Monday , April 18th .
The news over the weekend tended to be negative. The Shanghai and Shenzhen stock markets, which were already under obvious pressure, both reported a downward gap after today's call auction.
"Oh wow! It opened with a gap down and broke the five-day line. It's bad. We need to adjust." Looking at today's call auction, Gu Junhao said to Liu Tingting with a smile.
"Yes, the market is too fragile. The slightest disturbance will make it tend to go into short-selling mode."
"But this is a good thing for us to build a position. Starting from today, we will gradually move our positions to these 10 liquor stocks."
After the shareholders' meeting over the weekend, Maotai officially resumed trading today, and all ten liquor targets are now available for trading.
Based on the current overall scale of Junshi Value Investment, if all of it chooses to buy liquor stocks, the market value of each stock held will reach about 200 million yuan.
If the scale is allocated according to 15 supporting stocks, the position of each stock will be around 130 million yuan, except for Dingtai New Materials which is suspended and Yinbaoshanxin which is about to be sold.
If you want to increase your liquor stock holdings to a certain level, you will have to first sell some of the three banks you currently hold, Zhongguo Ping An and BYD.
"Okay, but if the correction continues, our record of consecutive gains will be lost, and the only new stock left is Yinbaoshan."
Today, Yinbaoshan opened at a new low of 50.35 yuan, less than 1% away from the five-day line position of 49.94 yuan.
It is said that the short-term trend depends on the daily and five-day lines. For Yinbaoshanxin, which has entered a period of adjustment after three consecutive boards, whether it can maintain the five-day line position is the most critical.
"Don't be influenced by external factors. There is no fund that can keep rising. The current number is already exaggerated. There is no need to change your plan in pursuit of this." Gu Junhao shook his head.
"Yeah, I know."
"Build your positions first, and try to complete the reallocation of positions before the end of this month. Starting next month, you must be prepared to travel."
"Research?" Liu Tingting asked .
"Well, starting next month, we're also going to go out and do some research. Is it okay for you to come along?"
"I'm fine. It's normal for fund managers to go out for research. I'm ready."
"Well, that's fine. Don't worry, just think of it as a trip. It's nothing serious."
"Hey, boss, you 've never been out since you started running the fund. I thought you didn't like traveling."
"I don't like it, but now that the scale is big, I must go out and have a look, not only at Junshi's value investment, but also at Junshi No. 2 and proprietary trading."
Currently, the total operating funds of the three major sectors have exceeded 10 billion, which is a huge scale. Although the memories of the previous life still play a significant role, in the current market, the main funds in the market are also relatively rough in their trading methods.
As long as there were no major changes in the market, Gu Junhao would have been able to grasp the market five or six years ago, but the market environment is changing every moment.
If you want to perfectly match this market, you must continue to learn and adapt to this market.
In fact, being a stock trader is somewhat similar to being a doctor. Being a doctor is also a profession that requires continuous learning.
Throughout the day, the Shanghai Composite Index opened low and had no intention of rising higher. It opened low and continued to fall, with the opening point being the highest point. By 10 o'clock, the stock index had fallen by 1.31% to 3037.77 points.
In fact, for retail investors, the performance in the first half hour of the opening is very important for judging the trend of the day or the trend of a certain stock. In this half hour, we can basically see the intentions of large funds or the main forces as believed by retail investors.
Half an hour after the opening, if the opening price is the highest or the increase is very small, and the market is weak at that time, then this stock will most likely not perform well throughout the day.
At this time, if you think the adjustment is within your acceptable range and the market outlook is still promising, you can either choose to do T or it is best to hold your stocks.
Of course, for most ordinary investors, it is difficult to grasp the T strategy. The best way is to choose to reduce trading. In a weak market, the more you do, the more mistakes you make.
Perhaps, after you choose to sell, the market reverses and the stock price soars straight up, which can easily affect your mentality.
However, most retail investors are not incompetent, but rather they cannot control their hands. They feel itchy and uncomfortable if they don’t trade a few times a day, which is the fundamental reason for their losses.
Stock trading does not require a diligent person, only brokerage firms do. If you can control your hands and move less, you can already beat most people.
The Shanghai Composite Index gapped down today and broke through the 5-day line. As expected, it opened lower throughout the day and eventually fell by 1.44%, also falling below the 10-day line.
Within one day, the 5-day and 10-day moving averages were broken, and the Shanghai Composite Index began to adjust from a strong trend.
The ChiNext Index fell 1.91%. In terms of today's market themes, only driverless cars performed well, while the rest of the major sectors all ended in the red.
Wan'an Technology is worthy of being the leader of the unmanned driving sector during this period. Its stock price once hit the upper limit of 29.77 yuan throughout the day, and the limit lasted for as long as half an hour.
However, affected by the continued downward trend of the three major indexes, the stock price was ultimately unable to close the board, and fell back to the closing integer of 29 yuan, up 7.17% on the day, with a turnover of more than 1.1 billion yuan.
A small or medium-sized stock with not-so-excellent performance can generate a transaction volume of over 1.1 billion yuan in one day just due to conceptual hype. Our A-share market is so unreasonable.
The style of the A-share market is that it can only rise for half a month. If it rises in the first half of the month, then the market trend in the second half of the month will most likely be mainly adjustment.
On the first trading day of the second half of April, the Shanghai and Shenzhen stock markets showed signs of adjustment, and Junshi Price Investment, which was in the process of building a position, also experienced its first pullback after resuming trading today.
At 9:30 in the evening, when investors gathered in the comment area of Junshi Price Investment, waiting for the update of the net value of today's price fund, the net value of the new day arrived as scheduled.
1.2715, rising for 30 consecutive trading days. Under the weak index today, urgent land and insurance once again played the role of stabilizing the index.
The overall banking stocks rose by 0.25%, and Zhaoshang Bank rose by 0.77%. Judging from the trend, Zhaoshang Bank has already emerged from the bullish trend and is very strong.
Today's returns on Junshi Price Investment also meet Juntian Fund's intraday reference data for it. Junshi Price Investment, which still mainly holds bank stocks, closed in the green for the 30th consecutive trading day.
On the 19th, the Shanghai Composite Index closed in the red again, down 0.3%, and the ChiNext Index fell 0.31%. The declines in the Shanghai and Shenzhen stock markets were almost the same, and they entered a period of volatility under weakness.
The only new stock left, Yinbaoshanxin, after successfully standing firm on the 5-day line and closing up 0.39% yesterday, surged again by 7.42% today. The stock price even hit the daily limit of 56.61 yuan throughout the day, setting a new high again.
Junshi Value Investment also closed in the green today. Bank stocks performed better than yesterday, while the liquor sector, which is in the process of building a position, did not fall too much.
1.2719. Although the increase was much smaller than later, it still closed strongly with a positive trend for the 32nd consecutive trading day.
Peers have become almost numb to Junshi Value Investment's performance, and some funds are even preparing to enter the bank stocks. After all, bank stocks are really too stable during this period.
By transferring part of the holdings to banks, you can gain a certain increase under this bullish trend and also get a good dividend rate from the bank in July.
The stock market has fallen for two consecutive days this week. After the market closed today, a chief analyst named Ren, who stole the limelight during the bull market in 2015, made public remarks on a certain blog.
He called on investors to go long across the board, saying that A-shares still have 20% room to rise, and urged them to keep going, and gave eight reasons to support the stock market's spring offensive.
At the same time, the brokerage firm where he works also released his research reports in a timely manner. His public remarks and research reports caused quite a stir this evening.
His halo still exists today, and his influence in the current market is still not small, but I don’t know how the market will react tomorrow.
On April 20, both the Shanghai and Shenzhen stock markets opened slightly higher, with the Shanghai Composite Index at 3050.38 points, re-standing above the daily five-day line.
As if in response to Chief Ren, the market trends in the two markets were relatively smooth in the morning. Although the Shanghai Composite Index did not rise sharply, it remained in the red and fluctuated.
At 10:30, after an hour of volatility, the Shanghai Composite Index began to move slowly upward, resource stocks began to fail to move upward, and the index began to gradually turn green.
At 11 o'clock, the Shanghai Composite Index reported 3010.11 points, down 1.08% on the day. Ten minutes later, resource stocks began to accelerate their diving again. The Shanghai Composite Index quickly fell below 3000 points to 2992.68 points, down 1.65% in real time.
The stocks that were trading in the green in the morning in the two markets began to turn green in large areas, and everything was affected!
Seeing the signs of a plunge, Gu Junhao laughed and said, "Haha, this old guy still has some conscience now. He is now publishing some research reports. Today, we will start to accelerate the position building mode. Everyone, go all out!"
"What's going on, Boss? Is that guy you're talking about the one who published the research report last night?" Liu Tingting said.
"Yes, that's him. Resource stocks have plunged across the board. It should be that some big funds have started to adjust their positions and change stocks. Although some other sectors have fallen, the overall decline is not that big. Take the liquor we have built a position in for example. The overall decline of the sector is less than 1% now."
"So that's how it is. We can indeed speed up the pace of building positions. If the market plunges today, it will be a good opportunity. Besides, it has broken through 3,000 points." Liu Tingting said suddenly.
Afterwards, Liu Tingting looked at Gu Junhao with some confusion and said, "Boss, why do you call him an old boy? He is not that old, right? Also, why do you say that he still has a conscience now?"
Gu Junhao was stunned when he heard this, but he quickly got over it: "Your focus is a little strange, shouldn't you be staring at the board?"
At the midday close, the Shanghai Composite Index was at 2965.30 points; in the afternoon, the index further plunged rapidly, falling to a low of 2905.05 points, with a drop of more than 4% at one point.
On the market, it seemed like there was great panic, but in fact, it took only about 10 minutes for the index to stop falling above 2,900 points.
Affected by the sharp drop in the index, the liquor sector also fell by more than 3% at one point, and the leading stocks began to fall near the 60-day line, and like the index, entered a stop-loss mode.
Looking at Liu Tingting and the three traders who were accelerating their positions, Gu Junhao did not say much, but let them play freely. Today was a rare opportunity.
The big plunge triggered by resource stocks did not actually cause much panic among blue chips and white horse stocks. Although the decline further widened, the overall capital outflow was not large.
This looks more like a panic-driven sell-off.
After 13:15, the Shanghai Composite Index entered a slow rebound process. The Shanghai Composite Index finally closed at 2972.58 points for the whole day, down 2.31% on the day.
The more than 4% intraday drop and the 2.31% closing drop both created the index's largest single-day drop since March 1.
Despite two across-the-board declines today, bank stocks remain the most resilient sector, with the sector's overall decline being only 0.24%, ranking first in the two markets.
Resource stocks fell sharply today, with more than 20 stocks in the sector hitting the daily limit, and a total of 58 stocks in the two markets hitting the daily limit.
After leaving the trading room, Gu Junhao saw that the index was around 2905 today. Li Daxiao posted several messages on Weibo, calling on everyone to buy at the bottom, indicating that there was a great chance that the area around 2905 points would become the limit of the correction, and called on everyone to buy boldly.
“Haha, it’s interesting that two influencers are both bullish. Although the basic point of view is correct, and the view of buying blue-chip stocks called for by Daxiao is also correct, this is definitely not the low point.”
Perhaps, it is precisely because the view of buying blue chips and white horse stocks with a smile is correct that this is not the final low point.
Large institutions must use the decline of the index and the suppression of stock prices to consume the final confidence of the retail investors in order to gain more chips.
At 9:30 p.m., Junshi Value Investment, whose net value had been updated, finally experienced its first pullback since Gu Junhao took office as fund manager.
1.2697, all the gains of the previous three trading days were wiped out. The net value retreated today, and also officially ended Junshi Price Investment's record of closing in the green for 32 consecutive trading days since its resumption of trading.
This also made a group of public fund managers breathe a sigh of relief. If the price continued to rise today, it would be really unacceptable.
At this point, everyone understood. They had previously heard rumors that Gu Junhao had been reported while working as a private equity product manager.
If it keeps going up like this, I'm going to report it!
After ending the record, not only his peers breathed a sigh of relief, but Gu Junhao himself was also relieved. After several days of profit, the three traders looked at him differently, full of enthusiasm!
Even Liu Tingting, who had followed him the longest, could no longer bear the temptation of constantly breaking records and began to pay attention to these false names.
This is also what Gu Junhao is most worried about.
The most taboo thing in stock trading is a change in mentality. Once you become arrogant, you will be beaten by the market.
It is good to end the record today. It is beneficial to put down the burden and go into battle lightly, which will be beneficial to subsequent transactions.
In the evening, Gu Junhao sent a message to Liu Tingting: "Don't worry about what the news says, keep a calm mind and trade well!"
