Chapter 88 Clearing Positions and Stopping Profits
"What's going on? Are you surrendering directly today?"
The Shanghai Composite Index opened at 2033.34 points and the ChiNext Index opened at 1283.64 points. Both markets opened lower, leaving a gap downward. A gap downward and room for decline often means a high probability of a sharp drop on the same day.
Seeing the market opening like this, Gu Junhao was a little surprised. There was no big news off the market over the weekend, and he did not expect the market to open like this on Monday. This was a big blow to the market's investment sentiment.
Similarly, affected by the market sentiment, Dafu Technology also opened 1.48% lower at 35.20 yuan. As for last Friday's star stock Guanghui Energy, it opened at 7.80 yuan today, down 2.44% and returned to last Friday's opening price. While the daily gains on Friday returned to zero, high-priced buyers also lost up to 8%.
"This kind of opening method, coupled with the market's panic period, is basically a failure." After observing the opening price and trading volume of Guanghui Energy , although the volume of today's call auction is not small, it is still much smaller than that of last Friday.
Looking back at the opening price of Dafu Technology, although it opened a lot lower, it is not safe. If the main funds are not in a hurry to sell and return to the five-day line, then today's volatility will be too large. Dafu Technology currently deviates from the five-day line by nearly 10%, and today's limit price is 32.15.
If the main funds are not in a hurry to sell or are in a hurry to sell, it is really possible that the stock will hit the limit down. Moreover, the sentiment is greatly affected today. The indexes both jumped today, which had a significant impact on off-market funds.
Although Dafu Technology is used to going against the market trend, it is hard to say whether it can maintain this trend. After all, the stock price has reached a high level, and the early chips in the market have made huge profits, and there is also a need to stop profits.
"The time after the market opens is critical. If the stock price goes down, it is possible that it will collapse directly." Staring at the intraday chart of Dafu Technology, Gu Junhao said to the screen.
Sometimes it can be a painful thing to trade stocks alone without anyone to communicate with. Gu Junhao has become accustomed to talking to himself.
At 9:30, official trading began. Dafu Technology quickly received the first sell order, 1,273 lots, at a price of 35.20 yuan, for an amount of 4.4 million yuan. The stock price did not fall. While the short sellers were placing orders, the long sellers were also taking action.
1805 lots, the short selling order was quickly taken up at the price of 35.40 yuan, followed by more than 600 buy orders of various sizes, which made the stock price quickly turn positive and reported 35.79 yuan. The trading time did not exceed one minute so far.
Dafu Technology's performance continues. As the stock price turned red, more and more large buy orders poured into the market. One minute later, the stock price broke through 36 yuan and went straight up.
Three minutes later at 9:33, Dafu Technology's stock price was 36.98 yuan, up 3.53%, with a fluctuation of 5% from the opening price.
"The opening price is the lowest price, which is okay. It depends on whether this wave of decline can be sustained." The price of 36.98 yuan is also the real-time highest price. Dafu Technology began to adjust downward step by step at 9:37.
The trading volume was not small. The price of 36.80 yuan directly resulted in a sell order of 2,000 lots, followed by thousands of sell orders and sell orders of more than 500 lots, which were executed one by one and also affected the stock price downward.
At 9:49, the force of the market crash weakened , and a sell order of 233 lots pushed the share price of Dafu Technology to 35.22 yuan, which was only 2 cents away from the opening price. It was immediately caught by a buy order of 360 lots. As if the stock price was pulled up soon after the opening, Dafu Technology also quickly rose, and the stock price turned red again to above 36 yuan.
Dafu Technology, which turned red again, experienced another downward shock. The selling pressure on the market was obvious. At 10:05, Dafu Technology pulled up from underwater again, and the low point also rose from the second low of 35.22 yuan to 35.56 yuan.
"The selling pressure is really great." Gu Junhao couldn't help but sigh as he looked at the market. Today, Dafu Technology's trading volume increased significantly, and the early trading volume was higher than yesterday. This was probably due to the two Dragon and Tiger lists yesterday.
Some of the funds that have already made their names known are eager to sell. In addition, given the low sentiment in both markets today, some funds have the need to avoid selling.
After a wide range of fluctuations with large volume in half an hour after the opening, Dafu Technology once again stood above the intraday yellow moving average at 10:12, and the stock price was quickly pulled up to the early morning high of 36.98 yuan. The volume was weaker than the previous round.
At 10:21, 3,000 buy orders appeared at the integer of 37 yuan for Dafu Technology, and the stock price once again set a new high for the year at 37.80 yuan, with only a difference of one yuan away from Gu Junhao's expected liquidation position.
"The volume is not large, but there is still hope that it will exceed 38 yuan. It looks like we can clear the inventory today." Gu Junhao was now fully focused, staring at the computer screen.
At 10:37, there were 1,208 buy orders a price of 38 yuan. There was no more upward momentum of more than 1,000 orders on the market. Seeing this, Gu Junhao also took action.
"There is no volume increase, you can clear the position now." No matter how much the price goes up, the 3,500 chips are divided into 10 lots, all priced at 38 yuan, there should be no problem selling them.
No matter how much Dafu Technology's volume shrinks today, it should not be a problem for it to get close to yesterday 's volume. These ten sell orders of mine are not a one-time market crash, so it should not be difficult to execute the transaction.
At 10:53, fifteen minutes after Gu Junhao placed the order, a sell order of 157 lots caused Dafu Technology to fall below 38 yuan again, to 37.99 yuan. This sell order included Gu Junhao's last 46 lots of chips.
At this point, all 3,500 lots of Dafu Technology held by Gu Junhao were sold at an average transaction price of 38.08 yuan, with a capital recovery of 13.328 million yuan. The market value of the account's holdings was 0, and the highest price of Dafu Technology in the morning was also fixed at 38.32 yuan. All the buy orders above 38 yuan were individual orders of 500 lots, but the number was not small.
"I feel that today's funds are a bit urgent, and the trend should not look good." Dafu Technology's stock price fell below 38 yuan and began to fall rapidly at 11:06. Market-smashing funds poured in, and ten minutes later the stock price fell to 37 yuan.
However, Dafu Technology's decline did not stop there. During the fourteen minutes of trading before the midday closing, Dafu Technology's share price plunged like lightning, breaking through the 38 yuan and 37 yuan levels, and closed at 36.10 yuan at midday. The increase fell from a peak of over 7% to 1%, and finally plunged by more than 5% at the half-high.
The trading volume reached 400 million. Yesterday's full-day trading volume was 640 million yuan, and today's morning trading volume was 400 million yuan. It seems that the trading volume is about to reach a new level.
Gu Junhao was fully focused on Dafu Technology the whole morning today, so he had no energy to pay attention to the trend of the two market indices. He only had time to look at the overall market conditions at noon. He was dumbfounded when he saw it.