Chapter 165 Shareholders Reduce Their Holdings, Bidding Collapses!

"I'll just take it as a compliment!" Yang Hao smiled, "By the way, how is your sister... Yu Ling doing now? I went to the hospital the day before yesterday and found out that she had been discharged."

"Except for the need to slowly recover and recuperate, there is nothing else." Su Yu replied, "Why do you suddenly care about her?"

In Su Yu's impression...

The two met several times, but on the surface they were not harmonious.

Yang Hao said: "After all, the root of this matter...in the final analysis, it is still related to me. I still feel a little regretful that she has been implicated."

"Don't worry about Yu Ling." Su Yu said, "I will take care of it."

"Okay!" Yang Hao nodded, paused for a while, and continued, "I will try the strategies you suggested. Thank you very much for today."

After that, the two discussed some other topics until about nine o'clock in the evening before they dispersed.

Then, Su Yu returned home...

He thought Li Meng had fallen asleep, but he saw that the other party was still holding his laptop and studying the market.

"Our company is not a sweatshop, so we don't have to work so hard, right?" Su Yu saw her concentration and smiled, "I don't advocate overtime culture."

Li Meng looked up at him and said, "I'm bored, so why not take a look at the market information and clarify my thoughts."

"Isn't a certain new drama that came out recently very good?" Su Yu asked.

"I don't think so." Li Meng replied, paused, and continued, "Fenta Technology has issued an announcement on the reduction of holdings by the major shareholder. I estimate that the trend tomorrow will not be optimistic."

"Oh, how much is the reduction?" Su Yu asked.

"We plan to reduce our holdings by 2 million to 5 million shares." Li Meng replied, "With the current stock price of Fenda Technology, it exceeds 100 million."

Su Yu made a rough calculation and said, "It's less than 4% of the shares at most, so it won't have much impact."

"The key is the impact on the confidence in holding shares on the market!" Li Meng said, "Major shareholders are reducing their holdings here, which means they admit that the stock price is obviously overvalued at this stage."

"And, I guess... it's going to affect other high-priced stocks in the same category."

"As long as the expectations are still there and the performance growth rate is still rising, there won't be a big problem." Su Yu continued, "I remember that after Apple's wearable devices were launched, the sales data of major terminals and online malls were quite high. The popularity is far higher than the market’s previous expectations, which proves that Fenda Technology’s future performance expectations are still increasing. There are many reasons for the reduction of major shareholders, but it does not affect the changes in the company’s fundamentals.”

"Hopefully!" Li Meng nodded slightly, but there was still a trace of worry lingering between his eyebrows.

"There is only one fundamental reason for the rise in stock prices, and that is expectations." Seeing the faint concern on her face, Su Yu continued, "The reduction of holdings by major shareholders is an aspect that affects expectations and confidence, but it is not a decisive factor. "As long as its fundamentals improve and expectations for further growth are still there, it is not a bad thing for major shareholders to reduce their holdings."

"Even...it's actually a good thing."

"A good thing?" Li Meng was a little confused when he heard Su Yu's words.

"Yes!" Su Yu nodded, "The long-term expectations remain unchanged and short-term emotional fluctuations affect it, so it is naturally a better point to add positions."

"In the short term, there is a short-term position logic."

"In the long term, there is a long-term position logic."

"Fenda Technology is not the Shanghai Steel Federation. This check is currently crowded with institutions. The short-term emotional impact on it is very short-lived. Even if some panic chips are not optimistic about the opening tomorrow and hit the lower limit, the follow-up will be supported by long-term logic. , and will regain lost ground soon.”

"So, what's there to worry about?"

“In a long-term investment strategy, as long as the underlying expected logic remains unchanged, you don’t need to care too much about any other fluctuations.”

"When opening a position, you have to look at the long and short term, but when you hold a position, you have to look at the long and short term, not afraid of fluctuations, be patient and able to maintain prosperity."

"I know……"

"You generally understand what I'm talking about."

"It's just that you become a fund manager and personally manage hundreds of millions of funds. A retracement at every turn means a retracement of millions, tens of millions, or even tens of millions of profits. It makes you feel a little anxious. ”

"Actually, it's not necessary. Just keep your normal attitude."

"Whether it's your own money or your customers' money, treat it as a number, and treat transactions as a pure numbers game. The psychological pressure will not be so great."

"Naturally, we will not care so much about the short-term fluctuations in the market, but will be controlled by emotions and ignore the basic logic."

"Only when you feel that millions, tens of millions, and hundreds of millions are just a series of changing numbers, can you control money in transactions."

"In a word, just treat the fund account as a simulated market."

"Yeah!" Li Meng nodded under Su Yu's persuasion, then sighed softly and said, "It seems... I still have a bad mentality."

Su Yu smiled and said: "You are already very strong. At least you can fully execute your strategy when trading alone."

He has ten years of reborn trading experience and ten years of historical memory of the market outlook that support his trading, support him in winning every battle in the market, and can see through all fundamental problems at a glance.

Without these two major advantages...

With less than two years of market experience, it would be impossible for him to reach this level of Li Meng.

Because, in real actual trading, for inexperienced traders, it does not mean that if you understand the truth, you will be able to overcome your inner emotions and human weaknesses of greed and fear in the real-time market fluctuations, and perfectly execute the trading strategy.

Of course, this is also the reason why he joined the group and decided to train him.

After all, in the future history he knew, facts had proven that Li Meng was determined and talented in trading, could become an excellent fund manager, and the amount of funds he could manage was in line with the upper limit. his future expectations.

"But it turns out that many of the trading strategies and ideas I proposed at that time were wrong in hindsight." Li Meng felt a little comfort in Su Yu's praise, "If you hadn't corrected it in time, I'm afraid the fund The current net worth is even more than a 50% discount.”

Su Yu chuckled and said: "Even if the current net value of the fund is discounted by 50%, it is still among the best. On the current private equity ranking list in China, among the thousands or tens of thousands of private equity funds still in operation, the annual performance exceeds 50%. , there are less than 50, so... don’t underestimate yourself.”

"Maybe... you are too strong!" Li Meng paused and said, "Su Yu, I have never seen you make a mistake in judgment. How did you do it?"

When Su Yu faced this problem, he coughed dryly and said, "Maybe I'm lucky!"

"It can be luck in the short term, but definitely not in the long term." Li Meng said, "Maybe... this is the so-called talent. I feel that you were born for market trading."

She thought about her experience working with Su Yu during this period of time.

From the time the fund was established and officially entered closed operation, every trading order issued by Su Yu and every investment strategy mentioned were extremely accurate, amazing, and sincerely admired.

Of course, what's even more shocking...

If we separate out the part of the fund funds operated by Su Yu and look at it separately, we can find that after more than a month of operations by Su Yu, the original 80 million funds in the account have reached the current scale of 200 million, an increase of 1.5 times. , far exceeding the growth rate of the fund’s overall net worth.

"I'm not as powerful as you say."

Su Yu smiled and said, "Okay, go to bed early and think about tomorrow's matters tomorrow."

After saying that, he took a shower and left.

And when he finished washing and returned to the living room, Li Meng had already entered his room, but the lights in the other room were still on.

Su Yu knows...

After seeing that through my own efforts, I can change my life and my life can be significantly changed.

Li Meng couldn't wait to use up all his efforts and strength to make some achievements as soon as possible and change the current situation of himself and his family.

In a sense... Li Meng and him are the same kind of people.

Su Yu smiled secretly and said nothing. He entered the room alone, turned on his mobile phone and read the messages on the chat software, then browsed the online stock forum for a while, and then fell asleep.

When he woke up, it was already eight o'clock the next day.

When he finished breakfast, came to the company, finished the morning meeting, and entered the trading room, everyone had already made preparations for the market and was waiting quietly for the arrival of 9:15.

Su Yu walked to his computer and sat down.

He casually took the tea poured by the assistant, took a sip, and then his eyes fell on the market prices of the two cities and the Shanghai Steel Union market, which had begun collective bidding transactions.

Thanks to the good trend of the external market last night and the hot profit-making effect of the GEM index hitting new highs one after another.

Most stocks in the two cities opened slightly higher.

Among them, the stock price of Shanghai Steel Union changed directly from yesterday's closing price of 48.21 yuan to 51.58 yuan at 9:15, an increase of 7.02%, and the initial call auction was 375 lots.

"Fenda Technology...has dropped to the limit!"

At the same time, Li Meng's voice came from Su Yu's side: "At the beginning of the call auction, there were more than 50,000 sell orders, which were placed directly on the lower limit. It shouldn't be like a false order closure. It seems that the number of orders has reached today. Technology is very likely to fall by the limit, and sure enough... no matter what the future expectations are, when the stock price is at a trend high, once negative news occurs, the panic on the market will be instantly amplified. "

With Li Meng's voice...

Su Yu took a look at Fenda Technology's call auction board and saw that at this moment, the limit-down orders were already greater than 60,000 lots.

"It doesn't matter, just follow the strategy I told you and execute it." Su Yu said, "As long as the underlying logic remains unchanged, short-term adjustments will not change the long-term upward trend."

"Yeah!" Li Meng responded and stopped talking.

Su Yu turned his attention back to the Shanghai Steel Union's trading market and saw that in this minute, the stock price of Shanghai Steel Union had dropped from 7% to 5%. It has also increased from the initial few hundred lots to more than 2,000 lots.

"It seems... affected by the reduction of holdings by Fenda Technology's major shareholders, the core concept stocks at the high level of the GEM today will be under huge selling pressure." Su Yu thought to himself, "In this way, the pull of the core concept stocks will be lost. , the trend of the market and core popular sectors should not look good today.”

After understanding this, Su Yu knew that it would be difficult for the Shanghai Steel Federation to connect today.

And he believes that if the entire market wants to continue to move upward, it must eliminate the concerns that major shareholders will sell off their shares at high levels and crash the market. In other words... Fenda Technology, despite the negative news, can achieve an unexpected performance, which can bring about a reversal of market sentiment and reduce the selling pressure of funds that are afraid of heights.

Before that, the market will most likely focus on adjustments.

"Today is not suitable for attacking!" Su Yu sighed, secretly saying, "But fortunately, when the semi-annual report was released, the major shareholder of Shanghai Steel Union had already stated that there was no plan to sell off shares in the short term, which dispelled the concerns in this regard. Otherwise... it would be difficult for Shanghai Steel Union's stock price to stabilize today."

When the main line of the 'Shanghai Free Trade Zone' has not yet appeared, and the stock price of Shanghai Steel Union has fully reflected future expectations.

The current stock price trend of Shanghai Steel Union is fundamentally supported by an extreme relay earning sentiment. Once this sentiment decays, it will be difficult to maintain the stock price.

This is also the reason why Su Yu needs to constantly rely on the overall investment sentiment of the market to lead this stock.

Because at this time, if you don't follow the sentiment of the market and don't step on the pulse of the entire market sentiment, and force it up, it will be easy to be smashed by the funds collectively when you lack confidence and sentiment. Once the market can't be pulled up, the extreme money-making effect is gone, and then... it will definitely be a vicious cycle, with further sharp increases in selling and further reductions in buying, and the trend will be reversed, and the stock price will crash.

As Su Yu pondered...

At 9:18, the stock price of Shanghai Steel Union fell again, and it had fallen below the 5-point increase to around 50.10 yuan, an increase of 3.98%.

Of course, among the high-priced hot stocks that have been hyped by funds in the past two months in the entire GEM constituent stocks.

The call auction trend of Shanghai Steel Union is still the strongest.

Other high-priced hot tickets such as Netspeed Technology, Huaqingbao, Changqu Technology, LeTV, Dongfang Fortune, Tianyu Information, etc., affected by the limit-down of Fenda Technology, have completely fallen back to the bottom in the call auction, and even Huaqingbao has fallen by more than 4%, showing huge selling pressure on the market.

At 9:19, the share price of Shanghai Steel Union fell back to 50 yuan, an increase of 3.86%, and the number of call auction orders matched and traded surged to more than 6,800 lots.

Then, within a full minute.

The share price of Shanghai Steel Union has been fluctuating around the price range of 49.95 yuan to 50.05 yuan. Occasionally, the selling orders suppressed the buying orders, and occasionally the buying orders suppressed the selling orders. However, during this period, although the stock price did not change much, the number of call auction orders matched and traded did surge continuously, from more than 6,800 lots at the beginning of 9:19 to more than 8,100 lots at 9:20, and there was basically no cancellation of orders.

Finally, the real call auction time at 9:20 arrived.

The stock price of Shanghai Steel Union was initially fixed at 49.96 yuan. After the last ten seconds of order withdrawal, the orders on the market returned to more than 6,800 lots from the highest of more than 8,100 lots. However, the trading volume of this call auction far exceeded the initial call auction performance of yesterday and the day before yesterday.

"The price of 50 yuan seems to have a certain consensus and sentiment support."

Su Yu stared at the call auction trend of Shanghai Steel Union and said secretly: "With this price as the center of oscillation, it should be able to support the high-fearing funds selling caused by Fenda Technology and complete another transformation of the chip structure in the market."

"Just follow-up..."

"Before the main line of 'Shanghai Free Trade Zone' comes out, if we want to go up again, I am afraid that we need the cooperation of Fenda Technology's trend reversal."

As he thought, the time entered 9:21.

The call auction trends of many popular stocks such as Netspeed Technology, Huaqingbao, Changqu Technology, LeTV, Oriental Fortune, Tianyu Information, etc. continued to fall. Fenda Technology still hit the lower limit, and the lower limit orders have exceeded 100,000 lots. It seems that no funds dare to pry the board, and it is impossible to pry it.

The whole market, the good call auction sentiment of the two markets in the first five minutes.

At this moment, it has been completely reversed.

Among the GEM constituent stocks, 70% of the stocks have turned green in the call auction. The main board is slightly better, but more than half of the stocks have turned green in the call auction.

Among them...

At this time, the stock price of Shanghai Steel Union is still fluctuating between 49.95 yuan and 50.05 yuan, and the call auction matching orders on the disk have also approached 10,000 lots.

9:22, 9:23...

The reversed call auction sentiment of the two markets has further declined.

Finally, at 9:25, when the call auction ended, the Shanghai Composite Index opened 0.42% lower, the ChiNext Index opened 0.91% lower, and 73% of the stocks in the two markets opened lower.

Among them, in terms of sectors.

The concept sectors of "Internet finance", "mobile games", "wearable devices", and "Apple industry chain", which were hyped as the core lines of the market in the early stage, were at the forefront of the decline, and the overall decline at the opening exceeded 1%.

In terms of individual stocks.

The opening range of high-level core concept hot stocks such as Netspeed Technology, Huaqingbao, Changqu Technology, LeTV, Oriental Fortune, Tianyu Information, etc. was greater than 2%, and the overall call auction trading volume also showed an amplified trend, indicating the relative panic of funds in the market.

In addition to these stocks, Shanghai Steel Union, which is the core focus of the two markets.

At the end of the call auction, the stock price finally settled at 49.71 yuan, falling below the previous range of 49.95 yuan to 50.05 yuan, an increase of 3.12%. During the entire call auction, a total of more than 14,000 orders were traded, with a turnover of nearly 70 million, setting a new high for Shanghai Steel Union in the call auction stage.

At the same time, this also proves that this stock, at the current price and the sentiment node of the two markets.

The differences are getting more serious.

Faced with such an opening result, investors in the two markets, especially the large number of investors who followed the trend and bought the core hot stocks of the GEM in the past two days, were very surprised and unexpected.

"It's strange. The external market trend was very good yesterday. The overall market sentiment before the market opened was also enthusiastic. Why did the ChiNext Index suddenly open so much lower?"

"Especially Huaqingbao. There was no bad news, but it opened nearly 5 points lower. It's simply..."

"Hey, I was happy yesterday, but I didn't expect that today... It hasn't officially opened yet, and it's directly killed. I really don't understand. Hong Kong stocks and external markets are both very good. What's going on?"

"Depressed, it suddenly changed its face!"

"Yesterday's profit was directly lost in a call auction. It seems... I have to stand guard again today. Who said that the ChiNext is much stronger than the main board?"

"I yesterday I just sold my stocks on the main board and chased the GEM core stock Netspeed Technology. It won’t reach its peak, right? "

"I’m really slapped in the face back and forth. I give up!"

"Hey, I sold my stocks yesterday and chased Fenda Technology. I didn’t make a penny. Today, I was killed by a limit down. I’m furious!"

"It was fine five minutes before the call auction. I don’t know why the call auctions of all stocks went down after 9:20. I don’t think the market sentiment is that bad, right? It’s really been sold back and forth. After selling the main board, it immediately started to sell the GEM. "

In the discussion of retail investors, at this moment, in the main groups of major speculative capital.

Many active speculative capital in the market are also somewhat surprised by such an opening situation.

"Hey, the good mood was ruined by this check from Fenda Technology!"

"It was not the check from Fenda Technology that ruined it, but the announcement of the reduction of holdings by Fenda Technology last night. At this stage, everyone is afraid of high-priced stocks. Suddenly, there is such a major shareholder's reduction announcement. There is no escape. All you can do is see Fenda Technology hit the limit and everyone takes profits and runs away."

"To be honest, the face of this major shareholder of Fenda Technology is really ugly."

"Fenda Technology has tripled from the bottom. It's stupid for the major shareholder not to reduce at this time."

"The market should have thought that Fenda Technology would not hit the limit, at least it would give funds a chance to run away. I didn't expect... I think because Fenda Technology hit the limit directly, the market lost liquidity and fell beyond expectations, so it triggered the mood of funds running away from the high-priced stocks that were hyped up."

"That's right. Once this kind of hidden worry arises, high-priced stocks with the risk of reduction will be relayed. , I'm afraid it will be difficult. "

"Anyway, we should avoid high-level relay today."

"I don't know how Shanghai Steel Union will go today? In addition to the market fear of heights caused by the reduction of holdings by the major shareholder of Fenda Technology, this check... is also a weather vane of market sentiment! If its trend goes bad, it is estimated that market sentiment will be difficult to recover in the short term. "

"I remember that the major shareholder of Shanghai Steel Union said that he would not reduce holdings when the semi-annual report was announced, right?"

"That's right."

"Then there should be no panic. As long as the wealth road is not smashed, it should be able to hold on, right?"

"Looking at the opening results of Shanghai Steel Union and the volume of collective auction, it is not optimistic. At this high level, the opening increase is less than 5%, which is a weakness. The accumulated profit-taking in the market will be large-scale profit-taking and exit..."

As the big guys shared their ideas and judgments...

The short five-minute suspension time ended, and at 9:30, the two markets officially entered the auction trading stage.

Almost in an instant, 5,000 lots of market-price sell orders with a value of more than 20 million appeared on the Shanghai Steel Union's trading board.

And with this huge order falling.

The stock price of Shanghai Steel Union did not even stay for a second, and it crashed directly and fell into the water!

PS: Two in one!