Chapter 91: 2000 Point Defense Battle
Following yesterday's sharp drop, the index continued to open low today. The Shanghai Composite Index opened at 2001.90 points, just within reach of breaking 2000 points.
The ChiNext Index opened lower again, at 1253.24 points, which is very close to the short-term support level of 1250 and less than 5% away from the 1200-point integer mark.
Dongfang Wealth was active in the call auction phase, with funds repeatedly fighting around the 17 yuan mark, and finally opening at 17 yuan, 1.17% lower.
Gu Junhao also lent a hand in this. After 9:25, he placed an order for 1,000 lots at a flat price of 17.20 yuan, with a total capital amount of more than 1.7 million yuan.
"We can't let it fall below 17 yuan or yesterday's lowest price, otherwise the trend may be bad."
Today, the ChiNext opened lower again. Honestly, Gu Junhao's order was a bit dangerous. If he was not careful, he might buy at the highest price of the day. However, the reason why he dared to place the order was that although the index fell sharply yesterday, the performance of theme stocks was still good, and Dongfang Wealth finally closed in the red.
After the official trading started, the index only fell slightly before starting to rise rapidly. The Shanghai Composite Index opened low in the morning and fell slightly below the 2000-point integer mark to 1997.64 points. The major heavyweights and blue chips began to move together, and the index turned red instantly.
The ChiNext was even more powerful. After falling to the 1250 support level, it quickly rose. The index, like individual stocks, soared nearly 1%. As for Dongfang Wealth, after a small fluctuation for three minutes in the morning, the stock price did not fall below the opening price and then followed the stock index to surge.
Gu Junhao's 1,000 lots were also digested among them, with an average transaction price of 17.10 yuan. Together with the 1,800 lots traded yesterday, the total number of Dongfang Wealth was 2,800 lots, with an average cost price of 17.18 yuan, a holding cost of 4.8104 million yuan, and 8.5176 million yuan in available funds .
At this time, the share price of Dongfang Fortune was already 17.23 yuan. Due to the deviation from his memory, Gu Junhao did not plan to buy a full position this time. He would just buy another 200 lots to make up for 3,000 lots. This purchase would be regarded as a trial position.
Without any hesitation, 200 lots were traded instantly at the price of 17.25 yuan, with a total holding cost of 5.1564 million yuan. 3,000 lots of Dongfang Wealth were already in his account. The 8.17 million yuan available in the account was put aside for the time being to observe the future trend.
Judging from the performance in today's morning session, the probability of a sharp drop during the day is not high. The ChiNext Index has been falling for nearly half a month, and some individual stocks have even been trending downward for the entire month. At this moment, the index has fallen to the support level, and there is indeed a need for a rebound.
A downward gap at a low level is different from a downward gap at a high level. You can definitely take a chance, but don't go all in and set a stop loss.
Back to Dongfang Wealth, after fluctuating around 17.23 yuan for nearly five minutes, Dongfang Wealth began to move upward. At 9:40, the stock price reached 17.40 yuan, exceeding the price by more than 1%.
As for the trading volume, it is still shrinking. Except for the opening stage, there have been no buy orders of more than 500 lots on the market, and sell orders have also become scarce. The 200 lots that Gu Junhao had placed in real-time orders before could be considered a relatively large order.
It seems that capital still has a tendency to be fearful. If there is no real bad news, it is estimated that there will be no large-scale entry. However, small trading volume is not without benefits. Small volatility is actually safer.
The ChiNext Index rose rapidly, and by 10 o'clock it had risen to around 1274 points, an increase of 1.32%. The Shanghai Composite Index also remained above 2000 points, maintaining a narrow range of fluctuations in the positive state, and the panic sentiment in the two markets gradually disappeared.
Dongfang Wealth was currently priced at 17.50 yuan, up 1.74%, slightly outperforming the index. So far everything has been within Gu Junhao's expectations, but with the volume of Dongfang Wealth today, it is unlikely for a big rise, and Gu Junhao did not expect a big rise today.
Whether it is the index or individual stocks, if you want a big rise, you ultimately cannot do without the cooperation of volume. The two market indices include Dongfang Wealth. Today's volume is smaller than yesterday. It is already very good to be able to maintain the rebound situation.
At this point, Gu Junhao also had the leisure to look at the trend of Dafu Technology, which he had already sold out. Dafu Technology opened lower in the morning, with the share price at 34.91 yuan. After the opening, the index fluctuated higher and rose to above 3%.
At 9:50, Dafu's stock price stopped at the high of 36.80 yuan in the morning and began to decline. The stock price continued to decline and fell to the flat price of 35.50 yuan at ten o'clock. At this time, the ChiNext Index was also adjusting downward.
The index adjusted downward, but the share price of Dongfang Wealth did not change much. On the contrary, Dafu Technology once again saw a wave of trading volume that was larger than that in the opening stage. Of course, this volume was the money that was dumping the market.
Within fifteen minutes, Dafu Technology's stock price broke through 35 yuan, 34 yuan, and fell to a low of 33.70 yuan, with a drop of 5.34%.
"Wow, the market fluctuated by nearly 10% in 45 minutes and opened lower. Few retail investors can handle such a trend." Gu Junhao couldn't help but sigh when seeing such a large fluctuation.
You can call this kind of large-scale volatility a market shakeout or a market escape; but there is no doubt that there were many profits or sales in the process, especially in the past two days, when Dafu Technology changed its trend to go against the market.
Yesterday and this morning's trading both followed the trend of the stock index, and its volatility was even more violent, which must have left many people at a loss. Fortunately, I had already cleared my position yesterday, otherwise, with the gap-down opening in this morning's trading, I should have just cut my losses and cleared my position with one click.
When high-priced stocks gap down, I will clear out the position immediately. This is my consistent standard. Even if I make a mistake, I will still follow this standard.
When Dafu Technology rose to its highest price yesterday, its stock price had nearly doubled within the month. No matter how it performs in the later period, it is definitely a high-priced stock at the end of April. Even if you expect it to reach 50 yuan, you will sell it at a loss here. At worst, you can wait until the adjustment is over before buying it again.
"We are still too hasty and there are too many hot money. Wouldn't it be better to have a slow growth like Wangsu Technology?" They are all hot concepts, but in comparison, the main funds of Wangsu Technology are obviously larger.
Today, with small trading volume, hot money is coming in and out like a shit-tampering stick. Although Gu Junhao made a profit in the process, Quan still thinks so.
However, with the mentality of watching from the sidelines, it is more interesting to watch Dafu Technology than today's Dongfang Wealth. This kind of big shock is really too exciting. I believe that many retail investors feel the same way.
The so-called "one risk, one can turn a bicycle into a motorcycle". Many retail investors probably think so; it can also be seen from the trading on the market that Dafu Technology has continuously received small buy orders of more than 10 lots, 40 or 50 lots from the low price of 33.70 yuan to the highest price of 35.16 yuan.
The wide range of underwater fluctuations of nearly 5% lasted from 10:15 to the closing of the morning. Finally, Dafu Technology closed at 34.36 yuan at noon, down 3.31%.
The main index, the Shanghai Composite Index, did not change much, but the dive of the ChiNext Index did have some impact on it. At midday close, the Shanghai Composite Index closed at 2006.78 points. Although it was still in the red, it had fallen below the yellow moving average of the day.
The ChiNext Index plunged severely after ten o'clock, falling from the intraday high of near the closing point of 1258.33, with less than 2 points in the green. Fortunately, this round of plunge did not increase in volume, and it should not be a problem to experience a second pullback in the afternoon and then recover.
His own holding, Dongfang Wealth, performed well and was not affected by the index plunge. It closed at 17.49 yuan at noon, up 1.69%, but the trading volume was less than 50 million.
After the lunch break, the two markets resumed trading at one o'clock in the afternoon. The ChiNext Index continued to plunge, and soon the index turned green. The index went down all the way, and Dafu Technology also remained in an underwater oscillation mode.
At 1:40 pm, the ChiNext Index hit a low of 1248.32 points again and then began to rebound rapidly. Dafu Technology also rebounded immediately.
"It's really a change of style. It's following the index. The movements are so synchronized." Gu Junhao chuckled at the two interfaces that were opened at the same time.
However, the ChiNext Index should have a support at 1250 points, and a small rebound should not be a problem. Considering that the ChiNext Index rose all the way to 4000 points in 2015, the corresponding low point should also be higher and higher.
The probability of falling below 1200 points is not too high. Even if it falls below, it should be recovered quickly. Whether it is the index or individual stocks, if you want to maintain the upward trend, it is inevitable that the low position will gradually rise.
Once the support level or psychological expectation level is broken, confidence will be hit and it will not be so easy to deceive funds into the market.
Dongfang Fortune also experienced a brief dive as the ChiNext Index continued to fall in the afternoon. A sell order of 550 lots brought the stock price down to 17.26 yuan. Some subsequent scattered orders did not have a significant impact on the stock price. With the rebound of the ChiNext Index, Dongfang Fortune's lowest price in the afternoon was also fixed at 17.24 yuan.
For less than five minutes during the opening phase of the whole day, the stock price remained in the red, which was stronger than the index. If it were not for the concerns in his memory, Gu Junhao really wanted to participate in the full position.
The index gradually stabilized after experiencing two pullbacks. At two o'clock, the Shanghai and Shenzhen stock markets, together with the ChiNext, moved in sync, with the index rising by nearly 1% in both directions, especially the collective movement of blue-chip stocks in the Shanghai Stock Exchange.
"Huh? What happened?" Gu Junhao also noticed the unusual movement in the market. After observing the market, he found that the unusual movement was mainly in the blue-chip stocks in the Shanghai Stock Exchange. It was somewhat similar to the last time when the news of the Shanghai-Hong Kong Stock Connect came out. Could it be that there was news in this regard again?
The launch of the Shanghai-Hong Kong Stock Connect is definitely a major event this year. There is no doubt about the information sources of large institutions, and the unusual movements on the market are the best proof of this.
The rebound after two o'clock continued until the closing of three o'clock. With the abnormal rise in the late trading, the Shanghai Composite Index finally closed at 2020.34 points, maintaining the 2000-point integer mark while rising by 0.84%. The trading volume shrank to 56.78 billion yuan.
The ChiNext eventually rose 0.74% to close at 1266.54 points. The daily trading volume fell below 15 billion, fixing at 14.51 billion yuan, a more extreme decline than the Shanghai Composite Index.
