Chapter 281 The Trend Reverses and the Massacre Begins!

Li Meng nodded and quickly issued instructions to traders to continue reducing positions.

Subsequently, the stocks held by the fund, such as Huatong Securities, Dongfang Securities, Dongfang Venture, Shibei Hi-Tech, Zhangjiang Hi-Tech, Zijiang Enterprise and other popular stocks of "securities and venture capital", encountered stronger selling, and the stock price fell at a faster rate, and the overall rebound trend of the two markets was completely reversed.

And with the diving of these stocks...

Many concept stocks in the direction of small and medium-sized boards and GEM also followed the diving, and the follow-up sentiment of active funds further collapsed.

"Diving again, it's poisonous, why does the index start diving every time it's more than ten o'clock?"

Seeing that the popular stocks in the market dived one after another, the good rebound situation was reversed in an instant, and some retail investors who followed the trend were very angry.

"Hasn't Fortune Road already liquidated its stocks on a large scale? Who is dumping them?"

"Damn, it's so weak that Qianneng Hengxin can't even drive 10 boards in 11 days. It's just hell!"

"Will it not be another scam and copy yesterday's trend?"

"It shouldn't be. If there is a real sell-off today, the main funds don't need to pull the index out of the deep water. I think this dive will definitely stabilize."

"Even if the rebound fails, it shouldn't fall below the low point of the early trading, right?"

"It's hard to say. The 'Three Musketeers of the East' have all collapsed. No one is trading the hot concept stocks in the early stage of the oversold SME Board and GEM. The money-making effect of the market is dissipating quickly. If this continues... the selling will only get heavier, and the funds willing to follow the trend will only get less and less."

"Bad luck, bad luck... This market is really depressing."

"Zhezhou Dongfang turned green, damn it... It turned green. It was fine before, why did the selling suddenly become so heavy?"

"Hey, Wanqi Enterprise has also closed the limit down again, damn it... I bought the bottom today, and I was buried again!"

"Really... I shouldn't have entered the market when I saw the index rising sharply in the morning."

"It's said that Fortune Road has liquidated a large number of positions to stop profits. The market must have turned around. If you still hold on to luck at this time, you are really licking blood on the knife edge."

"Hey, Dongfang Securities has also turned green. Sure enough... It's a scam again!"

"It's really a bullshit bull market!"

"Before, the market was easy to rise but difficult to fall. Any intraday dive would be quickly recovered. Now, looking at this situation... the market It's really a turn."

"Securities and venture capital were originally speculating on the expectation of a bull market. Now that the expectation is almost gone, then securities and venture capital naturally have no logic to rise. It is normal to fall, right? Looking at this situation... not to mention falling back to the original point when it started, it will have to fall by at least 10% to stop."

"Securities and venture capital said that expectations have weakened, and the stock price correction is understandable. Then why are the SME Board and the ChiNext Board so weak recently? "

"It's simply risen too much!"

"The ChiNext Index has almost doubled from more than 700 points to more than 1,300 points. The core components of its sector have risen by 2 or 3 times. It is normal to pull back from a high position now. After all... no matter how good the future expectations are, stock prices cannot continue to rise. "

"I think the main If it is the end of the year, the capital market is tight, right? "

"The capital market is tight, why wasn't it tight before? Why is it tight in the past two days?"

"Is there any major negative news in the market that has not been released?"

"Fuck, fuck... Huatong Securities has also turned green. Alas, it seems that there is no hope for the market today!"

Amidst the extremely heated discussions of many retail investors, at 10:35, the Shanghai Composite Index turned green, and the decline of the ChiNext Index widened to 1.23%. Almost all the popular stocks of "securities and venture capital" encountered heavy selling pressure, and the increase fell by more than half from the intraday high. In addition, many relatively weak concept stocks have fallen underwater, and the decline exceeded the low opening at the opening, trapping all investors who chased positions today.

At 10:38, the whole market was in a situation of correction and diving.

Twenty minutes ago, Qianneng Hengxin, which had just hit the daily limit and set a record of 10 daily limits in 11 days, saw a large increase in volume again, with a huge amount of selling orders pouring out and a sharp decrease in orders.

At 10:39, Qianneng Hengxin broke the daily limit, and the stock price fell rapidly, and the market lost its high space for speculation.

At 10:40, under the influence of Qianneng Hengxin breaking the daily limit, the hot money that followed the market withdrew significantly, and the popular stocks where hot money gathered ushered in further plunges.

At 10:41, the turnover of Zhejiang Dongfang exceeded 500 million, with a drop of 3.33%.

At 10:43, Dongfang Securities, which followed the trend of diving, also fell by 2%, approaching the drop at the opening, and at this moment... Zijiang Enterprise in the "venture capital" concept sector suddenly collapsed, and the drop was from around 1% to 6% within 1 minute, and panic orders surged out.

At 10:46, the Shanghai Composite Index fell by more than 0.5%, and the market investment sentiment further collapsed.

At 10:55, the Shanghai Composite Index fell by 1.25%, and the ChiNext Index fell by 1.79%, both of which swallowed up all the rebound gains after the opening, burying all the investors who chased in during the day in the market.

"Teacher, he is still selling!"

Seeing that the index is continuously diving, the stocks that were sold on a large scale on the Dragon and Tiger list yesterday by Fortune Road, such as Oriental Venture Capital, Oriental Securities, Huatong Securities, and Shibei High-tech, are still experiencing related simultaneous selling. In the trading room of Yanjing and Anlan Fund, Xie Wanting said excitedly: "Look at these stocks... the traces of simultaneous selling are too obvious. It feels like he still has a very large amount of chips in his hands, waiting to exit. "

"I saw it." Next to Xie Wanting, Zhou Guohua stared at the split-screen display of various popular stocks on the big screen in the trading room, and nodded slightly, "Billions of sell orders have been made, but in the end, there is still money in his hand. With such a large amount of chips, how much money does this guy have hidden?"

In his career, he has never seen a trader like Fortune Lu Su Yu.

It stands to reason that even if Su Yu deduced that the IPO market might restart through other market information and news, there is no reason to spend billions of funds on such a large scale to bet on the explosion of this line!

Sometimes...he feels that the other person is a gambler.

But sometimes, I feel that...the other party is simply a genius in terms of trading, market timing and opportunity mining.

"Based on previous estimates and the market signs at this moment, I'm afraid it must be at least four to five billion in size." Xie Wanting thought for a while and said, "Such a heavy warehouse intervention, I didn't feel it at all before, I really don't know How did he do it? And when did he start infiltrating?"

Zhou Guohua thought for a while and said: "Such a large-scale latent warehouse may have started after the National Day. Think about it carefully... This guy may have started from the briefing organized by the supervisory authorities during the National Day. It is judged that the IPO market is about to restart.”

"The layout is far-reaching..."

"In this wave of 'securities and venture capital' markets, most of the profits have fallen into his pocket."

"And... from the market perspective, many of the leading institutional funds that triggered this round of 'securities and venture capital' prices seem to be still hesitant."

"The more they hesitate, the harder it will be for them to appear in the end." Xie Wanting said, "Mr. Su from Fortune Road still holds a large position, but he has reduced his holdings by so much in the past two days. With so many chips, the cost of the chips he has in hand at this moment is estimated to be very low.”

"Such a low cost..."

"At a time when market liquidity is gradually lacking, and news of the market's IPO restart is about to come to fruition."

"When I smash the plate, I'm afraid there won't be any hesitation."

"If other major institutions without cost advantages are still hesitant at this time, they will probably be harvested by Fortune Road."

"People all have a sense of luck." Zhou Guohua chuckled and said, "If you think that the wealth road has been cleared and the impact on the market has passed, then you will inevitably take a chance and restart the IPO market. Before the news was officially announced, with the help of the gradually fermenting news, they continued to speculate and transferred the risk to the majority of retail investors. Unfortunately... sometimes the performance of the market always backfired, and my own cognition and judgment were always so... ridiculous!"

As he spoke, he turned his attention again to the big screen where the market conditions were constantly changing.

I saw that the decline of the Shanghai Stock Exchange Index has expanded to 1.5%, and the GEM Index has dropped by more than 2%. All industries and concept sectors in the two cities have also turned green, and the entire market hot spots have been wiped out. There is no place with obvious money-making effects.

And also at this moment...

Yanjing, inside the Shenhua Fund, the trading room; and inside the Magic City Yinghui Fund, the trading room.

Relevant core traders and fund managers, in desperation, have completely turned their long positions into short positions. They have taken the initiative to place orders and sell at large prices to reduce position losses and profit retracement.

Similarly, in Shenzhen, Yuhang, Jinling, Guangdong... and other places.

Many major institutions and funds gathered in the fields of "securities and venture capital", after they clearly discovered that there was a problem with the market's ability to undertake the market and that there was no chance of a turnaround in the market, they no longer maintained any market, and began to sell on a large scale and compete for the market. The remaining liquidity will take the initiative to sell down.

As a result, funds from all walks of life fell one after another and liquidated their positions.

At 11:30, when the market closed at noon, the Shanghai Stock Exchange Index fell further to a decline of 1.87%, while the ChiNext Index fell nearly 3%. The performance of the two cities was extremely tragic.

After the midday close.

Faced with a market that opened low, rebounded, and then fell rapidly, almost collapsing.

As long as they are still in the market and have not exited their positions on a large scale, they are all wailing and feeling very depressed at this moment.

Among them, Mu Yao, the chief market analyst of Jingda Investment, who only excitedly intervened in the morning, thinking that he could make a comeback, stared blankly at the frozen market, his heart was filled with despair and his face was pale.

He blew up.

At 11:17, when Huatong Securities fell below the 3% level, his personal position account was liquidated by the over-the-counter financing institution he financed. Currently, in addition to the principal of 1.16 million left in the account, , and the 2,000 Huatong Securities stocks that I bought today but cannot sell, there is nothing left.

The 50 million principal he invested basically returned to zero.

The 41 million yuan he borrowed from loan sharks has basically returned to zero, with a total loss of nearly 100 million.

And such a huge loss could not be made up by himself. If his brother-in-law Gu Chijiang refused to save him, he would have no choice but to jump off the building.

"Why? The restart of the IPO market is obviously good for the securities and venture capital sectors, so why has it continued to decline like this?" Even though he has squandered all his accumulation over the years and owed huge debts, he still feels in his heart He was also very unconvinced, "You can obviously pull it up, why do you have to smash it!"

Of course, at this moment, he was not the only one who had this question.

Yu Hang, within Minghui Capital, He Hong, the product manager of Minghui No. 2 Fund, also has the same question as him: "It stands to reason that the news of the resumption of IPOs in the market will gradually spread and ferment, which will be good for the fields of 'securities and venture capital' Ah, the funds coming out of the high-end concept stocks in the market's small and medium-sized board and GEM should be gathered in this area for safe havens, and there should be no shortage of acceptances. Why... not only did they not rise, but they collapsed? "

"The news of the IPO restart in the market is fermenting and spreading, but this sector has been speculated in advance and has overdrawn expectations." Beside He Hong, Xu Zhongji thought for a while and said, "The good position and high position are good for the market. Performance and market trends should be completely different.”

“But wasn’t the expectation of the previous ‘securities and venture capital’ riots a bull market?” He Hong asked.

Xu Zhongji replied: "Whether it is the bull market expectation or the news expectation of the market IPO restart, during the continuous riot stage of 'securities and venture capital', it should be considered that it has been reacted. Now the sentiment has ebbed and the market risk aversion has increased. Regardless of whether it is good or bad, That’s all bad news.”

"Fortunately, we didn't pursue this line..."

Xu Zhongji sighed, secretly thinking that he was lucky.

If they had not resisted the temptation of the coming bull market and pursued the securities and venture capital sectors, they would most likely be buried in the market now and would be in a dilemma.

"But the news has not really been announced." He Hong said, "Actually, I think there is a time lag in the information. If the main funds want to trade, they can use this information time lag to pull up the market and reduce losses and profits at this moment. The risk of retracement is passed on.”

"And actually..."

"Looking at the market trend from 9:30 to 10:10 in the morning, the main funds in the market are indeed doing this."

"I just don't know why suddenly the differences started to widen, and everyone started running away."

Xu Zhongji thought for a while and said: "It must be because of the lack of incremental funds in the market! Fortune Road has withdrawn, and many funds following the trend have gathered. The selling pressure on the market is heavier than usual, and under the recession, the incremental funds that follow the trend are active It would have followed the recession, and there would not have been so much capital to absorb the market rebound, so... when everyone saw that they could not pull it up and had insufficient strength to follow the trend and take over, they naturally changed hands and started to sell. "

"But before the collapse of Zhezhou Dongfang, the market actually took on a lot of money in the fields of 'securities and venture capital'." He Hong said, "I always feel that the market has other negative aspects that have not been reflected."

"Other negatives?" Xu Zhongji was stunned.

Just as he was about to continue asking how He Hong judged that there were other potential major negatives in the market, he saw that at this time, an important midday announcement had popped up on his computer desktop.

Xu Zhongji hurriedly shifted his gaze and took a closer look. His eyes showed surprise: "Zhezhou Oriental Group announced a shareholder reduction plan. Wu Jinghao actually wants to reduce 5% of his shares in the next three months. According to the current market value of Zhezhou Oriental, the holdings would have to be reduced by several hundred million!”

"We only announced the positive news of the successful acquisition two days ago, and now we are announcing the reduction of holdings. Isn't it too impatient?" He Hong also saw this important announcement, "Mr. Wu's appearance is too ugly."

Xu Zhongji thought for a while and said: "I'm afraid it's not that it's ugly, but that there is a capital chain problem within Zhezhou Oriental Group. Otherwise, Mr. Wu would not have been so eager to reduce his holdings. No wonder... Zhezhou Oriental is doing like this today. It’s weird, but it turns out there are funds on the market and I got the news in advance.”

"As soon as the announcement of this reduction came out, there was no hope for the market in the afternoon." He Hong said, "After all, Zhezhou Oriental is the core leading stock in this round of 'securities and venture capital' market, and the leading stock price has soared. Later, when major shareholders reduced their holdings and collapsed, other similar stocks may have the same hidden worries. "

Just as He Hong expected...

After the announcement of Zhezhou Oriental's shareholding reduction came out, stock trading forums across the Internet exploded in an instant.

Countless retail investors who hold Zhezhou Oriental directly cursed. Others... those who hold two stocks of Oriental Securities and Oriental Venture Capital, as well as other high-level adjustment concept stocks, are also worried about the stocks they hold. Influenced by Zhezhou Dongfang, in other words...it also became the next Zhezhou Dongfang.

"What the hell, Wu Jinghao's eating looks are too ugly."

As the announcement of the shareholding reduction continues to ferment, the hot money group in Yuhang, where Su Yu belongs, has participated in the Zhezhou Oriental hype, and the hot money that has not fully appeared at the moment is also instantly furious.

"After a few daily limits, when I saw the stock price rising, I immediately issued an announcement to reduce my holdings. It was really ugly. What's even worse is that it was announced at noon. I am worthy of being a business leader in Yuhang."

"It's good in the early days, but it's negative in the later days. There's no one in the entire market who looks uglier than him."

"Zhezhou Oriental's previous acquisition was a clear sign. It had nothing to do with good news, right? It just happened to meet the boom of the 'securities and venture capital' market, so it took off and was hyped up by various funds as a concept leader, with a considerable market premium."

"Even so, it can't change Wu Jinghao's ugly eating habits."

"It seems that many people were killed by Zhejiang Oriental's thunderbolt!"

"After all, it is one of the 'Three Musketeers of the East'. After the listing, the funds relayed more than 800 million. How many people were killed?"

"Fortunately, I avoided this check."

"At that time, I saw that Zhejiang Oriental had signs of listing, and I wanted to go up But later, considering that the check market is not much smaller than that of Oriental Securities, and it does not have the bonus of Mr. Su's Fortune Road seat, I let it go. I didn't expect... I have escaped now!"

"When the market opened in the afternoon, the check market fell to the limit, there should be no suspense."

"The key is not the problem of this check, but the overall impact of this reduction announcement on the market!"

"Indeed, Wu Jinghao's actions have set a very bad example for all the major shareholders of high-priced stocks in the market. With this announcement, everyone may have to consider the issue of major shareholders of high-priced stocks reducing their holdings. With this hidden danger, who is willing to take over the high-priced hot stocks?"

" Without the promotion of high-priced hot stocks and the opening of market space by these stocks, how can the market rise! "

"Hey, retreat, retreat, don't be greedy."

"I originally wanted to make an oversold rebound of hot stocks, but now... I don't dare to do it, for fear of being buried by major shareholders."

"Mr. Su's Fortune Road seats have been largely cleared out and he really shouldn't linger any longer."

"Sell, sell... I'm really tired these two days."

"The money-making effect is disappearing quickly, and the money-losing effect is intensifying. The difficulty of making money in the past two days has indeed increased many times. I thought that Qianneng Hengxin could open up space today, and there was an emotional pullback, but the ground and ceiling could not be closed. , it is estimated that this afternoon's check will stage a ceiling and floor trend again. "

"In the morning, the combined efforts of various funds had barely reversed the decline and played out the emotions, but the market failed to bear the collapse of Zhejiang Oriental! If it had been taken over at that time, there should have been a decent rebound today, but it's a pity... In the end, there was only one way to trample on each other."

"Even if it had been taken over at that time, it would have collapsed in the afternoon in the face of the announcement of the reduction of holdings at noon."

"That's right! Forget it, forget it... It's still the most important thing to learn to short positions!"

When the messages in the group were refreshed quickly, everyone was discussing fiercely, and their views on the market were pessimistic, the time passed 1 o'clock in the afternoon.

The two markets that had been suspended resumed trading.

And when the market conditions in the two markets began to jump rapidly, Zhejiang Oriental, which was directly hit by the negative impact of the reduction of holdings, fell straight down in a free fall posture within 5 seconds, and the limit was closed in a flash, killing all the funds that had bought yesterday and today and had not yet exited.

Similarly...

Accompanied by the sudden drop of the popular leading stock in the field of "Securities and Venture Capital" of Zhejiang Dongfang,

The other two stocks of the "Eastern Three Musketeers" with a strong correlation with its trend, Dongfang Securities and Dongfang Venture, also plunged straight, and the decline instantly expanded from more than 3 points to more than 6 points.

Then, when the "Eastern Three Musketeers" collapsed completely.

All the core popular stocks in the field of "Securities and Venture Capital" related to it all plunged abnormally, and there were endless selling orders on the market.

"Zhezhou Dongfang's lethality is really extraordinary!"

Seeing the limit down of a stock of Zhejiang Dongfang, which directly led to the complete abandonment of funds in the line of 'Securities and Venture Capital', and the rapid plunge without resistance, Li Meng was also surprised in the trading room of Yuhang Investment: "Mr. Su, the liquidity of the entire market is drying up rapidly. Almost all funds are being sold, and the market's ability to carry on is getting weaker and weaker. If this continues... the market will inevitably fall unilaterally."

"There is no way." Su Yu said, "The trend is reversed, and the slaughter has begun."

From the bottom of the market at the end of June to now, the Shanghai Composite Index can reach around 2,500 points in one wave, and the ChiNext Index can reach more than 1,300 points in one wave, which has greatly exceeded many people's expectations, and even overdrawn a lot of future market expectations, accumulating a very large profit plate.

In this case, the index peaked in the short term and the trend reversed.

At a time when future expectations are gradually becoming pessimistic and huge profit-taking groups are beginning to reduce their positions and stop profits, especially at this moment when the current market IPO is about to restart, the killing of funds from all walks of life will naturally not be polite at all, and at this moment, or the funds that chased highs in the past few days, will inevitably suffer losses.

"We..." Li Meng paused.

"Don't worry about the market, just reduce it directly." Su Yu didn't wait for Li Meng to finish, and directly ordered, "We don't have many positions left, and the cost of holding positions has been reduced to the extreme. Even if the market plummets, reducing positions by suppressing liquidity will not have much impact on our profit retracement."

"Okay!" Li Meng nodded, without saying much, and continued to execute Su Yu's instructions.

As the instructions were executed, the two funds' reduction of positions in related holdings became more brutal, directly with large orders of thousands of hands and thousands of hands, suppressing the liquidity of the market to sell.

Of course, in a trading environment where consensus has almost been reached, they are not the only ones who suppress the selling orders.

Many hot money, big investors, and major institutions, when they found that the market was powerless to turn around and could no longer rely on emotions to prevent an effective rebound, almost all of them reduced their holdings by suppressing the market and clearing out their positions. After all, at this time... the market trend has just reversed, and the market investment sentiment has not completely cooled down. There are many retail investors who hold on to a glimmer of hope. Although the liquidity is not as good as the previous one or two days, it is still sufficient compared to the market's lowest point.

If you don't reduce your holdings at this time, and don't compete for this sufficient liquidity.

When the market sentiment completely cools down, the market will return to the lifeless and gloomy situation, and the volume will begin to shrink significantly, then there will be no one to take over even if you want to sell.

So...

When almost all the major funds have sold heavily.

The market completely lost resistance. From the moment Zhejiang Dongfang hit the limit down, it has become a continuous unilateral decline, and there is no effective rebound.

Finally, at the closing at 3 o'clock.

The Shanghai Composite Index fell 2.87% to 2321.21 points; the ChiNext Index fell 3.65% to 1271.46 points. The two markets had a total turnover of 128.6 billion, which was smaller than yesterday, but not much smaller, and the two major indexes fell below the 15-day line, and the K-line pattern was completely bad.

In addition to the index, the performance of sectors and individual stocks was also extremely bad.

All industries and concept sectors in the two markets were not in the red. Real estate, infrastructure, medicine, and petrochemicals fell less, staying within 1 point, and the others fell more than 1 point. Even the banking sector, which is the stabilizer of the two markets, fell by 2.13%.

As for the popular concept sectors and their popular stocks that have attracted much attention, almost all of them led the decline today.

First, the two major concept sectors of ‘Securities and Venture Capital’, which had performed well for four or five consecutive trading days and had an average increase of 20% in the concept sector, collapsed today, with a decline of more than 4%. Its related core concept stocks, Zhejiang Dongfang, Wanqi Enterprise, Dongfang Securities and Dongfang Venture all fell to the limit, Shibei Hi-Tech and Zhangjiang Hi-Tech fell by 7 points, Huatong Securities fell by 6.86%, and Huaxin Securities fell by 5.63%...

The second is the concept of ‘reorganization and shelling’, which has been seriously oversold, and the concept sector related to ST delisting risk warning.

These two major concept areas did not perform well today and are still completely abandoned by the main funds. Among them, the market value of Xinwei Group has fallen below 50 billion, which is almost halved compared to the peak of 80 billion.

Finally, the concept areas related to ‘mobile Internet’ and ‘smartphone industry chain’, which were hyped up in the early stage and rose several times.

These two major areas are also terrible today.

Related popular stocks, such as Huaqingbao, Changqu Technology, Fenda Technology, Netspeed Technology, LeTV, etc., all fell by more than 5%.

There is also the field of "Internet finance" that has performed slightly following the line of "securities and venture capital".

It was also slaughtered by funds today.

Related core concept stocks, Shanghai Steel Union fell to the limit, Huake Jincai, Changliang Technology, Jinzheng Shares, etc. fell by more than 5 points, and Tonghuashun, Oriental Fortune, Hengsheng Electronics, etc., also fell more than the decline of the ChiNext Index.

Faced with such a closing result...

Faced with many stocks that have retreated by nearly 20% and 30% in two days.

Investors in the entire market are extremely depressed and unwilling. At the same time, many people still hold a hope for the future market after complaining.

After all, it has only fallen for two days, and the index is still above the 20-day line. Everything... is still hopeful.

However, when the Dragon and Tiger List comes out,

When the main funds, hot money and the majority of retail investors in the market saw that Caifulu was once again on the selling list of five popular stocks, they were extremely shocked. Their hearts, which had originally held a glimmer of hope, instantly sank to the bottom.