Chapter 427 Returning to China Next Week
Since Monday this week, the Shanghai and Shenzhen stock market indices have shown signs of fatigue, with the pressure above 3250 points for the Shanghai Composite Index and above 1950 points for the ChiNext being very obvious.
There are no obvious hot spots in the market, and it is dominated by short-term speculation, which is disorderly.
The logistics sector was hyped for a few days, and the newly listed banks were hyped for a few days, and recently they have entered the delisting market again.
The changes are quite fast, and if retail investors chase high prices under such circumstances, they are more likely to be trapped.
In general, there was no major market trend in March. The Shanghai Composite Index continued to fluctuate around 3,250 points, with an amplitude of less than 3 points for the whole month, and a decline of 0.59% for the whole month.
It oscillates at a high level with little fluctuation, but the money-making effect is not very obvious.
The ChiNext Index fell 1.03% for the whole month. The index barely held the 1,900 point mark, closing at 1,907.34 points, and is still in a trend of breaking the monthly line.
The two big negative lines of Leshi.com in early March dealt a big blow to the ChiNext. The continuous decline of the old ChiNext index, which was mainly based on Leshi.com, was also a major factor dragging down the ChiNext index.
By the end of March, LeTV closed at 33.92 yuan. Every time LeTV's share price plummeted, it was accompanied by huge trading volume, and the willingness of capital to flee was very obvious.
On the other hand, every rebound at the daily level is mainly characterized by shrinking volume compared to the downward volume.
Despite such a trend, there is still a steady stream of retail investors entering the market to buy at the bottom, and there are indeed many investors who are not afraid of death.
If we say that Leshi.com had several chances to escape in 2017, the first one was on January 16, the day of resumption of trading. There were plenty of opportunities every day after that.
By the end of March, it can be seen as the last chance to escape.
In January, Old Sun rushed to support Lay's with more than 10 billion yuan, and Lay's resumed trading just under this "good" news.
The fake accountant had good intentions, but after the resumption of trading, the share price of Lay's did not rise as expected. Instead, after a few days of volatility, the share price continued to fall.
If ordinary retail investors still had expectations for Lashi.com in January and February, it would be somewhat understandable. After all, Mr. Sun brought in more than 10 billion yuan to take over the market, which ultimately left some hope for the market.
But if you don't run by March, then you are a bit stubborn.
In March, Lao Suntou publicly stated to the media that he had exhausted all possible means. If he wanted to solve the problems of Leshi.com, at least tens of billions of yuan of funds would have to enter the market in compliance with regulations.
For this reason, Rongchuang made a one-time provision of 16.5 billion yuan in investment losses in its financial report, all of which came from Lay's.
Old Sun has revealed his cards. I don’t want to play anymore. I’m withdrawing!
To be honest, if you still can't grasp such an obvious escape signal, you are somewhat not suitable for stock trading.
Even people like Lao Sun couldn't bear it and ran away, but retail investors still rushed in without any risk awareness, and it is understandable that they suffered huge losses in the end.
In the following April, Lashi.com was in turmoil for another half a month and was suspended again after the end of trading on April 14.
The reason given for the suspension is still major asset restructuring...
This time, what kind of funds will take over? In the past, there was no such fund. This suspension of trading completely pushed Leshi.com into the abyss.
At the same time, Lay's also released its first quarter financial report, which still showed huge losses.
It is worth noting that the number of Lashi.com shareholders is still increasing in this quarterly report.
As of March 31, 2017, the total number of Leshi.com shareholders reached 198,000, an increase of 20,000 shareholders compared to the fourth quarter of 2016.
Nearly 200,000 shareholders are still holding on to Leshi.com, but this time, the fake accountant still left them with disappointment.
"Suffocating for dreams!" This is the joke most investors make about Lay's stock and themselves.
It has to be said that fake accountants are indeed good at fooling people. Even a shrewd man like Lao Sun was fooled by him. At the same time, the pledge-based share reduction method he invented has been imitated by countless bosses of listed companies.
The so-called pledge-based reduction method is to pledge the shares in one's hands through banks, securities companies and some other financial institutions to cash out.
After that, he just let his positions go bankrupt. As for the continued plunge in stock prices caused by the bankruptcy, that had nothing to do with him.
The fake accountants loaned the funds they cashed out from the so-called share reduction to the company. This trick will still be used by the actual controllers of listed companies after 2022.
The fake accountant manipulated the capital market very clearly. He successfully slipped away and is still doing well on the other side of the ocean.
In 2010, Lashi.com went public. Five years later, in 2015, the market value of Lashi.com exceeded 100 billion yuan. Lashi.com, which created countless myths, naturally became the leader of the GEM with a market value of over 100 billion yuan at that time.
Countless investors and celebrities of all sizes waved their money and lined up to join the investment feast of Leshi.com.
Industrial chain, closed loop, and born for a dream are the words most often used by fake accountants.
However, in 2016, the situation changed suddenly; Leshi.com, which was once so prosperous last year, has lost its former glory due to various problems.
Even under such circumstances, the fake accountant was still able to defraud more than 10 billion yuan from Old Sun in early 2017.
Not everyone can fool Old Sun, but since 2017, his operations have been somewhat confusing.
First he was fooled by a fake accountant, and then he took over Old Wang's business.
People like Gu Junhao don’t understand the specific deep-seated reasons, but it is definitely not that simple.
The day when Leshi.com was suspended from trading was also a watershed moment for the market in April. Since the Shanghai Composite Index bottomed out and rebounded on January 16, the market rose to a high of 3295.19 points on April 7.
The rebound was more than 8%. However, on April 14, the Shanghai Composite Index formed a large negative line with large decline volume, and all daily lines except the 60-day line were broken.
After so many years of stock investment, Gu Junhao has always maintained a low position in March and early April every year, and this habit has continued into this life.
Even though the Millennium New District was being hyped up in March and April, Gu Junhao was not tempted at all and continued to maintain his pace of subtraction.
As of April 14, A-share holdings in Junshi Group's three major secondary market investment sectors had dropped to a relatively low level.
Next, you need to wait patiently for half a month and buy back the original chips at the end of April and the beginning of May.
This is Gu Junhao's operating habit. In fact, if it is personal investment, Gu Junhao's positions were relatively low before the end of April.
Everything will have to wait until the first quarter and annual report market is over. The real market rebound often starts in May.
So when Wang Ruoyu asked whether he wanted to participate in the speculation of the Millennium New District, Gu Junhao decisively refused.
Speaking of the Millennium New District, it can be regarded as a joint encirclement and suppression of hot money by the national team and large institutions.
On the Dragon and Tiger list, big and small hot money are making a bloody mess. Often when hot money hits a stock, a large amount of funds will pour out to dump the stock.
It was precisely this encirclement and suppression that made hot money dare not touch the stocks held by large institutions in the next few years.
The encirclement and suppression also started today, April 14. The Millennium New District concept sector opened high and closed low, with a full-line correction and a large-scale plunge within the sector.
A weekend later, on April 17, the Shanghai and Shenzhen stock markets opened lower , and a new round of falling from highs began.
The Shanghai Composite Index broke through 3,200 points during intraday trading, and the ChiNext Index hit a new interim low. More than 100 stocks in the two markets hit the daily limit today.
On the market, only the more defensive sectors such as liquor and medicine performed well, and liquor stocks were also one of the few sectors that closed higher.
This is also one of the reasons why Gu Junhao has not touched the liquor sector. No matter how the portfolio is adjusted, the liquor sector always maintains a very high position.
It is true that the liquor sector has been so strong over the past year or so. Maotai Liquor closed up 0.09% today, and its share price has reached around 400 yuan, at 398.79 yuan.
Wuliangye rose 1.44% today, with its share price at 42.96 yuan. The entire liquor sector closed up 0.28% today.
In a bear market, liquor and pharmaceutical stocks with low valuations are indeed two categories worth holding. If they really fall as much as they did in 2018, you can just add to your holdings.
In the following two trading days, the Shanghai Composite Index, which failed to fill the gap after gapping down from its highs, continued to fall. In terms of hot spots, except for liquor, some pharmaceuticals and banks that supported the market, the performance was very weak.
Among them, the Millennium New District sector is particularly affected. Most of these stocks were of poor quality to begin with, and it was difficult for them to rise sharply.
The money trapped in the market started to be dumped in huge orders, and there was no mercy at all. Both hot money and retail investors were cut into pieces.
I don’t know if it was because the stock price was cut too hard this time, but this sector has never seen much hype since then, and each rebound does not last more than two days.
The Shanghai Composite Index, which broke through the daily line, finally closed at 3154.66 points for the month, down 2.11% for the month. The ChiNext Index closed at 1850.73 points, down 2.97% for the month.
Since it had already reduced its positions in advance, Junshi Group had a better response policy at the end of the month. Whether it was adding positions or doing T in the liquor sector, which still had a good performance, it was able to achieve a good balance in positions.
This also resulted in the index falling by more than 100 points this month, while Junshi No. 2 and Junshi Price Investment were still able to maintain monthly gains.
There is no way but to retain most of the positions in the sector, which rose 4.68% for the whole month and has had seven consecutive positive monthly lines!
The net value of Junshi No. 2 after the close of this month has reached 1.1079. After three months of operation, the return has exceeded 10%.
After the net value of Junshi No. 2 exceeded 2 last month, it increased by 0.08% again this month to 2.0377.
Closing in the green for the 14th consecutive month has disappointed investors who were waiting to buy at a bottom after a sharp drop in the previous month.
"This is fucking outrageous. Is anyone trying to control this Kun? It fell so badly at the end of this month, but it's actually rising. I was still waiting to buy at the bottom."
"Damn it, the market plummeted on the 14th, closing at 125,700. I cleared my position and waited to buy it back at the end of the month. Now you tell me which day was the lowest point of the month?"
"What stocks did Brother T buy? Is he short-term? Otherwise, even if he holds liquor, it wouldn't be so outrageous."
"Alright, never mind. I understand now. There is no chance to buy at 125,700. Just do it!"
