Chapter 460: The Last Fall
The net value rebounded for three consecutive days, including that interview, which was a response to those who called Gu Junhao bullish three times within a month.
In the three trading days since the weekend's bullish sentiment, the market has recovered all the losses this month, which is a bright spot in the bleak environment this month.
After a few trading days, the previous voices cursing Gu Junhao have decreased a lot, and have been replaced by joy after getting back the investment in Junshi.
Perhaps, the only people who are depressed here are those investors who sold their shares at a loss last week.
In fact, careful investors should have discovered long ago that Junshi Price Investment's performance has been far stronger than the broader market since the end of September. Even during last week's stock market crash, the extent of the retracement has been controlled very well.
This week it went against the index and performed excellently.
Thursday, October 18th.
According to news yesterday, following Shenzhen's 10 billion yuan rescue fund, the capital city intends to allocate one to two times more funds to provide support based on the 10 billion yuan bailout fund initiated in one of its districts.
At the same time, the Capital Financial Office and the China Securities Regulatory Commission will organize an exchange and coordination meeting in the near future to replicate this model in other jurisdictions.
Yesterday, the capital sector had already surged, and it was obvious that smart funds had already learned of the news in advance.
Next, this kind of map speculation may continue, and the listed companies under some developed cities will have a relatively higher probability of rising.
The rescue operation is proceeding in an orderly manner, but today's stocks are unexpectedly strange.
Yesterday, the three major indexes of Shanghai and Shenzhen stock markets opened more than 1% higher collectively. However, today, in the absence of any negative news, the three major indexes opened more than 1% lower collectively, which is exactly the opposite of yesterday.
"Hey, this is intentional, right? The performance of foreign markets last night was pretty good. It's totally unnecessary and impossible for the market to open 1% lower today."
"Today's decline was mainly in the Chinese character "Zhong" stocks, and the sharp drop in the Chinese character "Zhong" stocks had a significant impact on the index."
"Don't worry about it. We will continue to follow our own ideas. In the coming days, we will abandon the index and focus on the sector stocks."
There were no major changes in the external market, there were positive factors internally, and there was substantial follow-up rescue with real money. In addition, the stock market trend had already begun to tend to strengthen yesterday, but the index inexplicably fell.
Below the 2005 point, except for big finance and some big consumer categories, individual stocks have basically reached their historical lowest valuation position. I really don't know what's so scary.
Such a trend is most likely a trap to lure investors into selling before major policies are introduced.
It makes sense, right? Without a big drop, there seems to be no reason for the policy to be introduced, but with a big drop, the introduction of the policy seems to be more reasonable.
Just like the previous few trading days with big declines, the three major indexes of the Shanghai and Shenzhen stock markets opened low and fell throughout the day, with no effective rebound as consumer stocks and mid-cap stocks led the decline.
Just over 10 minutes into the morning trading, Zhongguo Travel was close to the limit down, Shanghai Airport fell 6%, and some other blue chip stocks also fell sharply.
Ning Wang opened 1.7% lower in the call auction, and at one point fell more than 6% by 9:40. The lowest share price was 65.52 yuan, and there was a trend of breaking through.
Sino-Singapore Communications, which surged 3.05% yesterday, also showed a weakening trend. As of 9:40, its share price had fallen by nearly 3%.
"No more buying, still focus on the ChiNext." Gu Junhao gave the order.
The ChiNext Index was currently reporting 1207.86 points, with a real-time drop of 1.95%. It is still uncertain whether it can hold the 1200 point level today.
The 1200 point level is the iron bottom of the ChiNext; in 2013, the ChiNext experienced a bull market, and from 2014 to 2015, the bull market started. At these two time points, the ChiNext did not effectively fall below 1200 points.
In 2018, even if the market is so extreme, it cannot effectively fall below this position!
At present, the bottom of ChiNext is the most obvious. Today, the index hit the bottom of 1200 points, a new low. Even the new and old star stocks such as Ning Wang, Dongfang Fortune and Tong Huashun did not hit new lows.
In the future, with the implementation of the registration system and the expansion of the ChiNext, no matter how badly individual stocks fall, it will be impossible to see the 1,200 point level again.
This situation would only occur under extreme market conditions such as in 2018.
Sometimes Gu Junhao wondered, what would happen if an ignorant investor entered the market at this moment?
Were they scared by the extreme drop in the index and sold their stocks at a loss, or were they buying a certain stock by accident, then got stuck and chose to play dead, in order to finally reap a profit?
In his previous life, in 2018, from October to the end of the year, Gu Junhao repeatedly persuaded people around him to buy stocks.
For more than two months, Gu Junhao spent all his money to buy stocks at the bottom, and at the same time, he wanted more people he knew to buy stocks, even though doing so would not do him any good.
When a friend makes money, he won’t share some of it with you. At most, he will buy you a gift or treat you to a meal. But if he loses money, he will resent himself for it.
But Gu Junhao still did so, simply because in his opinion, this time was really a historic bottom, and the valuations of some stocks even returned to before 2008.
In 10 years, the country has been developing. The valuation of a relatively excellent company cannot be at the level before 2008. Such an opportunity really cannot be missed.
By chance, Gu Junhao had one more opportunity than ordinary people to feel the extremely strange decline in the market in 2018. Just like in his previous life, Gu Junhao was always bullish at this position.
Being bullish three times within a month did not bring any substantial benefits to Gu Junhao except for attracting the attention of the higher-ups. Instead, he received more verbal abuses and was even criticized for being the same type of person as Li Daxiao.
Junshi Value Investment has increased the subscription scale by several billion, but to be honest, these several billion funds do not mean much to Gu Junhao.
We have already negotiated with many banks and securities firms. Once Gu Junhao needs financing, these banks and securities firms can provide Gu Junhao with a maximum financing amount of 20 billion yuan.
For Junshi Capital, which has a large amount of cash flow, financial institutions are very willing to cooperate with such a big customer. It just depends on how much Gu Junhao wants.
Gu Junhao is not a saint, and he is ruthless when it comes to cutting leeks in the stock market. The operation mode of selling first and buying later in the first week of October, to some extent, also played a major role in the market crash.
Gu Junhao certainly has his own interests in being bullish, but that does not prevent him from telling certain investors who see opportunities but are weak-willed that this is an opportunity.
Most of the time, investors have their own logic when buying stocks, but in extreme market conditions, all they lack is confidence.
Although he is not a saint, Gu Junhao does not mind giving such confidence to some investors who are willing to believe in him.
As for whether you can make money and how much you can make, it all depends on fate.
"Boss, Mindray shares are actually delisted. Should we add to our holdings?" Liu Tingting's voice brought Gu Junhao back to reality.
Mindray, which raised the most funds on the ChiNext this year, was listed on October 16 with an issue price of 58.56 yuan, and actually raised 5.934 billion yuan.
After only two trading days of limit-up, Mindray shares dropped from the limit-up price of 85.03 yuan to 73.38 yuan at the opening today!
In six minutes, more than 1.2 billion in funds fled, causing the stock price to drop by 15%.
"Buy it. What are you hesitating about? If you don't dare to buy, you have to buy a lot. Take as much as you can."
Looking at the share price of Mindray shares which has risen to 74 yuan, Gu Junhao said with a smile that this is a very rare opportunity.
At present, it is impossible for new stocks to be listed on only two boards. Even the market value is not so limited. Today, Mindray shares are undoubtedly one of the wrong ones.
Speaking of this leading stock in the medical device industry, its listing speed was faster than that of Ning Wang. It was officially listed less than a month after the prospectus was issued.
As far as I can remember, except for 2018, the stock price of this company has never been below 100 yuan, and its market value peaked at over 600 billion yuan.
Today, based on the daily limit price of 85.03 yuan, its market value is only around 100 billion yuan. In a few years, it will easily generate more than three times the profit.
In his previous life, Gu Junhao’s winning rate in medical stocks was an exaggerated 100%. He had a certain understanding of A-share medical companies, let alone such leading enterprises.
At 10 o'clock, the hype market started as expected. The Guangdong Bay Area concept sectors rose across the board, the leading stocks once hit the board, and the sector as a whole rose collectively.
However, it had no effect on the index. Up to 10 o'clock, there was no effective rebound and the stocks with Chinese characters in their names were still in a continuous downward trend.
At 11:15, Zhongguo Communications Construction was close to the limit down, Zhongguo Railway Construction, Power Construction and others fell unilaterally, and the Shanghai Composite Index approached the 2,500 point mark.
After the afternoon trading began, Zhongguo Petroleum joined the ranks of selling off, and Zhongguo Communications Construction, China Railway Construction and others completely hit the limit down.
As of 1:30 p.m., more than 30 stocks in the Shanghai and Shenzhen stock markets hit the daily limit, and the stocks that hit the daily limit were mainly concentrated in the heavyweight stocks headed by the Chinese character "Zhong" in their names.
As expected, the Shanghai Composite Index fell below 2,500 points, closing at 2,499.47 points, with a real-time decline of 2.43%.
The ChiNext Index is still holding on to the 1,200 point level. After experiencing turbulence in the early morning, the ChiNext's performance throughout the day is actually much stronger than that of the Shanghai Composite Index.
After a rapid plunge in the early morning, Ningwang was quickly pulled up, and the stock price was close to flat at one point. Above the trading price, the selling pressure was also relatively light.
The performance of other GEM heavyweight stocks such as Dongfang Fortune and Tonghuashun is also acceptable, which shows that the selling pressure is not too serious.
Today's extreme sell-off led by stocks with Chinese characters in their names is also a good thing for the ChiNext. It has washed out the last wave of floating chips, and the ChiNext can now go into battle with ease.
The unprovoked plunge in stocks with Chinese characters in their names today may also be related to the concentrated portfolio adjustments of large funds. In the rebound in the past few years after the stock market crash, the performance of stocks with Chinese characters in their names was really average.
While sectors such as liquor, new energy, and technology are hitting new highs, stocks with Chinese characters in their names are still stuck in the quagmire.
The domestic real estate industry has begun to decline, and with changes in the international environment, expectations for this type of stock will certainly have to change accordingly.
It is normal for some big investors to adjust their positions in time and look for new investment targets as we encounter such a rare bottom.
As PetroChina joined the sell-off, the Shanghai Composite Index plunged even more sharply. Near the end of the trading day, the Shanghai Composite Index continued to widen its losses.
The Shanghai Composite Index fell 2.94% throughout the day, falling below 2,500 points and closing at 2,486.42 points. The ChiNext Index closed at 1,205.03 points, down 2.18% on the day.
More than 3,100 stocks in Shanghai and Shenzhen stock markets closed in the red, with nearly 150 stocks hitting the daily limit. In the afternoon, the main loser, PetroChina, plunged nearly 8%, which is very rare.
On the second Thursday of October, A-share investors once again experienced a Black Thursday.
The index plummeted, hundreds of stocks hit the daily limit, and heavyweight stocks fell extremely, once again causing great . Ningwang closed at 68.03 yuan at the end of the trading day, down 2.81% on the day.
But from the trend point of view, Ning Wang, with an amplitude of up to 8.4% throughout the day, made a V-shaped reversal after a sharp drop in the early trading, and the stock price stubbornly pulled up above the five-day line.
Dongfang Wealth, which rose 4.47% yesterday, was even stronger today. Its share price fell by only 0.27% to close at 10.96 yuan. A false positive line allowed it to firmly stand on the five-day line and the 20-day line.
From a technical point of view, Dongfang Wealth's current bottom rebound trend is still not strong.
The same is true for Tong Huashun. Tong Huashun, which surged 7.26% yesterday, had a trend today similar to Dong Fang Fortune, with a false positive line, falling 0.68% and closing at 30.68 yuan.
Judging from a series of representative stocks on the ChiNext, there is no doubt that today will be the last drop for the ChiNext.
"Hey, Yingke shares actually hit the limit down?" While looking at the limit down board, Gu Junhao discovered that Yingke shares are now mediocre.
Judging from its main business, equity and market value, it is an inconspicuous presence not only in the entire A-share market, but even in the medical sector.
