Chapter 284 Seize 2 Billion in Market Profits!

"Why does Mr. Su still have such a large position?"

Within the Yuhang hot money main group where Su Yu was located, they were all shocked and surprised when they saw the many hot money updated in the Dragon and Tiger rankings.

"This is too deep!"

"I feel like I have endless chips. Mr. Su's continuous exit of positions makes the line of 'securities and venture capital' completely untouchable."

"Successive slumps and market panic effects have already taken place. Too much money has been buried in the 'securities and venture capital' line. Even if there is good potential, in this current situation, whoever touches it will die!"

"In the 'securities and venture capital' line, a large number of institutions are involved, and the chips are inherently dirty."

"Once the 'Securities and Venture Capital' line dies, it feels like the Shanghai Stock Exchange Index will fall back to the range of 2,000 to 2,200 points. The future direction... I'm afraid it will still be on the ChiNext Index."

"If the big market can't pull it, we can only pull small votes."

"Let's wait for the bad news to materialize. I feel that Mr. Su's continuous decline in advance is also to use this wave of emotions to encourage the main market groups to completely kill the market, so as to give the next wave of market a chance to go into battle lightly."

"Mr. Su's reminder is indeed too timely."

"Not only was it timely, but it also indirectly aggravated the market's shock adjustment. I guess Mr. Su wouldn't have been so eager to get out of the position, and the market wouldn't have fallen so badly in the past few days."

"There's nothing wrong with it. I'd rather fall sharply or plummeting than suffer a negative fall."

"Indeed, if there is a sudden or sharp drop, there will be a violent rebound after the market falls completely. However, if the market continues to fall, it will really have no profit-making effect and will be a waste of emotions."

"I guess the market... won't return to its previous downward trend all year round, right?"

"In any case, the Shanghai Composite Index should not fall below 2,000 points again, and the Shanghai Composite Index has almost no room to fall. As the most active GEM index in the market, I am afraid there is not much room to fall."

"Generally speaking... the future should be quite optimistic."

"The entire market and the overall holding of chips can be felt as the market continues to perform in the second half of this year. There are obvious signs of loosening. In the long term, there is no reason to be pessimistic."

"Indeed, there have been many stocks with 4 times or 5 times the price this year, and the market is far better than last year."

"I am afraid that if the IPO market is restarted, it will directly cause serious blood-draining effects and emotional confidence blow to the market! The current market investment confidence is not strong. If there is another downward blow, will it be able to rise... There are really two questions. explain."

"Since the regulators are determined to restart the IPO, they should maintain the subsequent market conditions. Do you have any ideas?"

"What's the use of having an idea? Only incremental real money needs to be brought into the market to achieve significant results, and only then can a real bull market be born!"

"Wait and wait patiently for the actual performance of the market."

"Yes, no matter what, the current market volume is still much more abundant than before, basically staying above the 100 billion level. If this volume can be maintained, there should be no shortage of opportunities regardless of whether the market rises or falls."

"Hopefully! But I always feel...it's still too early to be optimistic at this time."

"We will wait until the bad news materializes and then look at the market's reaction. At this time, it is better to follow Mr. Su's operation and reduce the position!"

"Agree, the market is suppressed by the negative news, the main players are shrinking, and the retail investors are affected by Mr. Su's continued reduction of positions on Wealth Road, so they have a low willingness to follow the trend and chase higher prices. In addition, the market continues to adjust, and the profit-making effect is sluggish. At this time, placing orders... indeed It’s not appropriate!”

"It is said that the apprentice is the one who can buy, the master is the one who can sell, and the founder is the one who is short-term. I used to think this was nonsense, but now... I really understand it, what the hell... I have worked hard these past few days to review the market and toss it over and over again. In the end, I saw...it was just a fool's errand. It would be better to clear the position with Mr. Su at the high point of yesterday's rebound, and the loss would be smaller. "

"Haha... This is called a fierce operation, and the profit is two hundred and fifty!"

"When the trend reverses, we should avoid taking heavy positions and attack. However, it is still difficult to learn to take short positions and give up some opportunities in a timely manner!"

"Indeed, itching hands is really not easy to cure."

"It's better to follow the trend and get rich. I found... as I was speculating, I actually changed from hot money to retail investor mentality, and started mindlessly following the trend of Mr. Su's seat."

"Those who can follow the trend correctly are also market masters!"

"Why do I sound like an oxymoron?"

"This is not an irony. To be able to follow Mr. Su's wealth management ideas closely, you really need very good skills!"

The news in the group is constantly refreshing. Discussions about Su Yu’s Fortune Road seat, opinions on the market outlook, and news about the restart of the IPO market... are all emerging one after another.

At this time, as the core figure in discussions among investors in the entire market.

Su Yu sat in front of the computer screen in the company's trading room, glanced at the refreshed data on the Dragon and Tiger List, and was thinking about the follow-up operation plan and market trends.

Under the influence of his seat, the market fell faster than he expected.

According to this falling method...

Basically, after the major bad news about the "market IPO restart" was completely released and the bad news came to light, the market basically fell completely and reached the range platform position when it broke through below. In this way... re-establish a position at a low level and adjust. The opportunity for fund holding structure has arrived again.

"Li Meng, the potential chips of our two main funds in the line of 'Securities and Venture Capital' should have been sold out today, right?" Su Yu pondered for a while, tilted his head to look at Li Meng, and asked, "What is the overall holding of the two funds now? What other stocks have chips held?"

Li Meng took a look at the monitored fund backend transaction data and replied: "We have basically sold out the potential chips in the line of 'Securities and Venture Capital'. Now the two funds still hold a total of 280 million chips in the three leading securities firms with sufficient liquidity, 'Huaxin Securities, Huashang Securities, and Huatong Securities'."

"The other holdings are some of the remaining stock positions when we withdrew from the two core lines of 'Mobile Internet' and 'Smartphone Industry Chain'. There are 12 stocks in total, 2.4 600 million chips. "

"Currently, the two funds hold less than 600 million in total, and the holding line is about 5%, which is basically a clearing state. "

Su Yu nodded slightly and continued to ask: "How much profit did we make in this wave?"

"In this wave of 'Securities and Venture Capital', the net value of the 'Yuhang No. 1' fund increased by 23%, and the net value of the 'Yuhang No. 2' fund increased by 24.5%. "Li Meng replied, "The current net value of the 'Yuhang No. 1' fund is 15.37, and the net value of the 'Yuhang No. 2' fund is 1.24. The fund scale of the two funds... 'Yuhang No. 1' is about 6.153 billion, and the 'Yuhang No. 2' fund is about 6.201 billion. In general... In this wave, we have grabbed about 2 billion in profits from the 'Securities and Venture Capital' field. "

"So much!" Su Yu's eyelids jumped, a little surprised.

The larger the fund volume, the more difficult it is to increase the net value, and the speculative effect on the market will be greatly reduced.

He originally thought that the overall net value growth would be good if it could reach 15%, but he didn't expect that it would be about 10% more than he expected.

Li Meng smiled and said happily: "Thanks to our large-scale reduction of most of the chips at the highest point of the market and the node with the most abundant liquidity, we avoided a large-scale retracement of profits, so we achieved this profit result. Of course... it is mainly due to your wise leadership."

"Uh... don't flatter me." Su Yu chuckled, "This is the result of everyone's joint efforts."

"Yeah!" Li Meng responded softly, without saying much, changed the subject, and asked, "Tomorrow is Friday. According to market news, the news about the resumption of IPOs in the market should be clear tomorrow. Looking at the market situation, I am afraid it will continue to fall. We..."

"Wait until the market falls through, don't worry." Su Yu said, "The current market adjustment , both time and space are insufficient. "

"And..."

Su Yu paused and continued: "Under the potential major negative pressure, the market investment sentiment has not reached the freezing point."

"Whether it is individual investors or fund managers."

"I think that when the market is necessary, we must learn to short and dynamically adjust our positions."

"Don't be afraid of missing opportunities." Su Yu smiled and said, "It is better to miss opportunities than to lose money, because as long as the market is open, opportunities are always there, but if you lose money... you have to use double the profit to make up for it, and... usually under the condition of loss, you will become hesitant and miss more market opportunities."

"Yeah!" Li Meng nodded, and swallowed back what she wanted to say.

"But..." Su Yu pondered for a moment, and then said, "Our current fund size is not small. From the perspective of medium- and long-term investment goals, if the market falls to the support platform of the previous breakthrough at one time under the negative impact of the restart of IPOs, we can also gradually increase the holding level of our fund in the form of grid building." "Previous support platform?" Li Meng glanced at the index and replied, "The Shanghai Composite Index fluctuates between 2000 and 2200 points, and the ChiNext Index fluctuates between 1000 and 1100 points? If it is this range, the Shanghai Composite Index actually has little room to fall." Su Yu nodded slightly and said, "Originally, the overall increase of the Shanghai Composite Index this year has lagged behind the ChiNext Index by a lot. In addition, the restart of the IPO market has suppressed the valuation of the market and the negative impact is mainly on the many high-end concept stocks of the ChiNext and SME Boards. The impact on the Shanghai Composite Index is not particularly large, and it can fall back to 2000. 1 point to 2200 points, which is already a relatively pessimistic expectation. "

"As for the ChiNext Index..."

"It depends on the market expectations in the future. If it can fall below the 1200 point mark in one step, it is actually in the field of building a position."

"Direction... or the 'mobile Internet' and 'smartphone industry chain' fields mentioned before?" Li Meng continued to ask, "With our current capital volume of more than 10 billion, if we want to enter on a large scale, it may not be as easy as before, and most of the traces cannot be fully hidden."

Su Yu nodded and said: "In terms of the general direction, it is definitely the two major fields of 'mobile Internet' and 'smartphone industry chain', but the focus may be different from before, but I still have to think and think about the specific targets for subsequent position building."

"Let's observe first!" Su Yu said, "In the two days when the bad news landed, we will all be a bystander. "

Although he has the advantage of being born again and knows the general direction of the market's macro development, the specific implementation of the market trend in a small period of one or two months, or even one or two weeks, still has to be judged based on his two lifetimes of market experience, and in the specific Strategic trading must also be verified with market news and actual market trends.

During the conversation between the two...

The market investment sentiment is further fermenting. Investors are discussing about the "Fortune Road" seats, their views on the market trend in the future, the long-short debate, the bull-bear debate, and the good and bad speculations about the next market news...all kinds of The topic still continues.

As time goes by, the market macro level has changed.

Brokerage analysts, as well as financial media and financial influencers, have finally begun to mention the word 'risk', of course to avoid slapping themselves in the face. These people are still firmly bullish on so-called medium and long-term investments, thinking that This wave of market adjustment is still a benign adjustment. It is believed that the Shanghai Stock Exchange, Shenzhen Stock Exchange Index and ChiNext Index will definitely reach new highs during the year after short-term adjustments.

In the evening, when everyone thought that the regulators would release some mild benefits.

On the news, there was a rare calm.

In the end, when the external market trend remained stable, the market sentiment was intertwined with bulls and bears, and the news was undercurrent, but in a calm situation on the surface, the market ushered in the last trading day of the week.

Friday, October 26, 9:15.

With much attention being paid to it, and countless investors looking forward to and apprehensive about it, the market is ushering in call auctions.

The two markets, which had been stagnant for more than ten hours, started to beat again. Within 10 seconds, of the nearly 2,000 stocks that had not been suspended, more than 1,500 stocks in the two markets opened at a low price.

Among them, the 'securities and venture capital' concept section, which continuously buried people the day before yesterday and yesterday, and killed a large number of major funds, as well as related popular concept sections such as 'mobile Internet', 'smartphone industry chain', and 'reorganization and backdoor', are all presented After opening low and falling sharply, the relevant core popular stocks in various fields opened seriously low, and a large number of major selling orders accumulated on the market.

"There shouldn't be such stupid main funds today to continue to push up the market!"

At 9:16, in the trading room of Zexi Investment Company in Shanghai, Zhou Kan stared at the call auction situation of the two cities that opened significantly lower, smiled, and said: "After all, the news of the IPO restart in the market has already been announced at this time. It is basically clear. Not to mention the main funds in the major markets, even many large market investors and retail investors who are well-informed have heard about it. "

Xu Xiang nodded and said: "I guess it should open low and shock, or drive low and go low!"

Although the news of the "market IPO restart" has not been strictly controlled by the regulatory authorities, they have even intentionally or unintentionally let the market know, allowing the market to react in advance and digest the negative news. At this time...many major institutions have already vacated their positions and prepared for the IPO in advance. The positions were reduced, but the retail investors who were lagging behind in the news did not generally get the news and vent their emotions.

so……

If the market has been falling continuously in the past few days, it is because the main funds are avoiding risks and retreating.

Starting from today, the vast retail investors with different information channels are making investment judgments and operational choices based on the bad news that is about to be released.

"Will there be a panic crash?" Zhou Kan asked.

Xu Xiang thought for a moment and said: "Probably not. The well-informed main institutions should have left all those who should have left during the large number of shocks and declines in the past few days. They are still active in the market today, and there are some Basically, only retail investors and some hot money groups are left with huge desire to reduce or clear their positions. In addition, the index is here. In the short term, it is almost oversold. Before the bad news materializes and the overall emotions are vented, it should be difficult to move forward. Kill deeper."

"The market at this moment is the calm moment before the storm."

Xu Xiang paused and continued: "Except for the part of the investment group that I just mentioned are eager to get out of their positions, the rest...the sentiment on and off the market is obviously much stronger today than in the past few days."

"Actually, it's good to keep killing like this all the way and react in advance to the negative effects of the IPO restart in the market."

"In this way, after the victory comes to fruition..."

"The market's adjustment period will be greatly shortened. Maybe... the bad news will turn into a good thing!"

"Hopefully!" Zhou Kan nodded, "The market has been bearish for six years. In fact, everyone's desire for a bullish market is still very high. Although the regulators are indeed a little anxious to restart the IPO at this time, the market It’s probably not unexpected at all.”

"that is……"

Zhou Kan paused and said, "It would be great if the central bank could loosen its grip on the stock of market funds in a timely manner and bring more incremental funds to the market."

"In this way, even if the IPO in the market sucks a lot of money, the market can adjust itself."

"The current market..."

"The key is that the volume and capacity have not been fully developed, and there is insufficient incremental funds. If this basic problem is solved, a real bull market may come."

"The central bank should have some considerations in this regard." Xu Xiang said, "Of course, the central bank's motivation to change monetary policy is not enough to rely solely on the influence of the stock market. It also requires the emergence of funds in the fundamental financial industry of banks. Difficulties can make the central bank loosen its grip!”

"Financial difficulties among banks?" Zhou Kan was stunned, "Can the 'money crisis' reappear?"

Xu Xiang shook his head slightly and chuckled: "Who knows? I just always feel that the central bank relies solely on market reverse repurchases to supplement liquidity, which does not solve the fundamental problem."

"No matter what the reason..." Zhou Kan said, "as long as the market liquidity is further abundant, the market outlook will be worth looking forward to."

As he spoke, he returned his gaze to the market again.

At this time, the time has passed 9:20, and the two cities have entered the real collective bidding stage where orders cannot be cancelled.

After a large number of false orders were withdrawn, the overall market situation, compared with the initial stage of collective bidding, has not changed significantly. The performance of the related concept sectors of 'securities and venture capital' was sluggish, and the performance of 'mobile Internet' and 'smartphone industry chain' , 'restructuring and backdooring' and other related concept sectors still led the market down. At the same time... core popular stocks related to these concepts also mostly opened lower, with heavy selling.

Then, at 9:21, 9:22, 9:23...

As the call auction time progresses, the overall market performance further declines.

Finally, when the time reached 9:25 and the call auction in the two cities ended, the three major indexes, Shanghai Composite Index, Shenzhen Stock Exchange Index and GEM Index, all opened lower by more than 0.5%, among which... the GEM Index fell to 1250 points.

As for the core popular concept sectors that performed sluggishly in the early stage, their opening ranges were all greater than 1%.

Among them, related core popular stocks, Orient Securities opened lower by 3.78%, Zhezhou Oriental opened lower by 8.75%, Oriental Venture Capital opened lower by 4.12%, Huatong Securities, Huashang Securities, and Huaxin Securities opened lower by about 0.2%, but they were selling. Not big, relatively stable.

Fenda Technology, which hit its daily limit because its performance exceeded expectations yesterday, opened 2.33% lower today. More than 78 million yuan was traded during the entire collective bidding stage. The market performance was quite active. Other early popular concept stocks related to Fenda Technology, Hua Qingbao opened lower by 1.35%, Changqu Technology opened lower by 1.21%, LeTV opened lower by 2.45%, Internet Speed ​​Technology opened lower by 0.88%, Huayi Brothers opened lower by 3.73%...

"It's hopeless. I feel like this market is completely hopeless."

Seeing that the market has opened significantly lower and all yesterday's hot spots have been wiped out, retail investors in the market and online stock forums are sighing again.

"The 20-day moving average has fallen below. This trend seems to have really reversed."

"What kind of line are we looking at? This kind of decline is like a stock market crash."

"It's true that I didn't catch up on eating meat, but I caught up on all the beatings. It's unlucky... the bull market, you're a ghost!"

"The recent retracement has exceeded 25%. Who is worse than me?"

"Why is the retracement so miserable? That proves that at least there is still profit. I've lost 28% in the past few days! It's simply... I've lost more than last year."

"I chased the top ten thousand companies, and I suffered a huge loss, plus a lower limit."

"Same, the same, the recent market profit-making effect is really incomparable to before. Whatever you buy, you will lose. But I still can't control my own hands. I want to buy after selling, and I want to get back the original investment. As long as I get the original investment back, I can't control my own hands." Oh...I won’t touch this thing anymore, it’s so tortured that I’m going to die.”

"Don't talk about the money-making effect, now there is only the money-losing effect."

"I don't understand how a good market could suddenly become like this. I never expected that... the market would actually become a peak model."

"It's a negative, it must be a major negative!"

"I also feel that there should be major negative news. All the main funds have been running away in recent days."

"Hey, let's not talk about it, let's not talk about it... The market has opened. Yesterday's pursuit of highs was buried. Today, I can only passively cut the meat. I can't understand the hard logic of Fenda Technology and it will fall."

"I also cut shares of Oriental Securities. I have been chasing the leader recently, and my mentality is really crazy."

"That's right! It feels like the dragon head strategy is completely ineffective."

"Only when the market trend is strong, this method can have a high winning rate. When the market trend is weak, the highest leader will most likely be buried deeper."

"Indeed, hey... we can only learn a lesson."

"Here I go, there was a brief rebound yesterday, but today the market... just opened lower and went lower?"

"It's not taken over, not taken over at all. It's really strange!"

"The trading volume is shrinking. It's obviously shrinking. What are you doing? Hedging funds? Is there really a major negative impact?"

Amid everyone's complaints and depression, the market trend after the opening was almost the same as the call auction, both of which were extremely bad.

At 9:42, the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index and ChiNext Index all fell by more than 1%.

At 9:55, the three major indexes fell further, reaching about 1.2%, with Potential Hengxin and Zhezhou Oriental experiencing their second consecutive limit-down.

At 10:15, the Shanghai Stock Index rebounded slightly after hitting its lowest drop of 1.37%.

After that... throughout the morning trading session, the three major indexes fluctuated around a decline range of 1.1% to 1.3%, and the entire market shrank significantly compared to yesterday.

At noon, except for the fermentation of short-term sentiment in the market, other news... was still calm.

Then, the afternoon session.

Between 1 o'clock and 2:40.

The index continues to maintain a pattern of underwater fluctuations, and the wait-and-see mood of major funds on and off the market has also become stronger amid the low fluctuations in the index.

But when the trading time advances to after 2:40.

A wave of strong selling by major funds broke out again in the market, and the market's risk aversion sentiment quickly heated up.

Finally, at the closing time of 3 pm, the decline of the three major indexes was almost the same as yesterday. The Shanghai Composite Index barely held the 2,300-point mark, and the ChiNext Index fell to the 1,230-point line. The popular concept stocks that were chased and hyped by retail investors and major funds in the early stage were all in the red.

Faced with such a closing situation...

The market investment sentiment became further pessimistic and depressed, and the complaints of retail investors became more and more intense.

Of course, many major funds and institutional groups who knew why the market continued to fall and whose carrying power was getting weaker and weaker were generally glad that they got the news earlier and reduced their positions in advance.

At the same time, the vast investor group that closely followed Fortune Road.

After seeing the trend of the market falling sharply after Fortune Road appeared, they were also glad and had more admiration for Fortune Road.

"Sure enough, Fortune Road is a god!"

"Yes! Ever since Fortune Road reduced its holdings, the market has been falling, and it's all a deadly trend."

"Damn it, I should have followed Fortune Road in reducing my holdings, oh... I regret it!"

"It's all a big drop, it's really weird, the bull market hasn't even appeared yet, and the bear market is here again."

"Will Fortune Road continue to sell today?"

"Look at the stocks held by Fortune Road, such as Oriental Securities, Oriental Venture, Zijiang Enterprise, and Wanqi Enterprise, they are still falling today, and the large funds on the market are still in a state of net outflow. It's really hard to say!"

"It shouldn't happen, right? Fortune Road has been selling for three consecutive days, and it's selling again today... I really don't know how many billions of chips are hidden."

"Just take a look and you'll know!"

" If Fortune Road is still sold, the index will probably fall next week, ah..."

"When Fortune Road first reduced its position, it should have been cleared the next day. I remember that there was an obvious upward movement during the trading session that day, which was a great opportunity to reduce positions. Unfortunately... I shouldn't have been greedy."

"As a result, now it opens low and falls directly, not to mention opening high. It's simply horrible."

"Alas, I've been numbed by the killing these days, and I'm cutting my losses every day."

"I hope Fortune Road won't be sold today, so there may be a chance of rebound next Monday."

In the heated discussion, with many retail investors feeling uneasy and hopeful, time passed 5:30 pm, and the new Dragon and Tiger list was refreshed. Fortune Road was not on the selling list today, and of course... it was nowhere to be seen on the buying list.

Finally, after three consecutive days of selling, Fortune Road, which was regarded as a thorn in the eyes of market bulls, stopped.

"Fortune Road didn't sell, Fortune Road finally stopped selling!"

Facing the clean Dragon and Tiger list without Fortune Road, many retail investors who were still in the market breathed a sigh of relief.

However, this kind of relaxation lasted less than half an hour before it was crushed by a major negative boulder from the market.

Because at 6 pm.

The news of the "market IPO restart" that had been vaguely spread for several days finally landed.

The China Securities Regulatory Commission announced that it would restart the market IPO next month. At the same time... the China Securities Regulatory Commission's Issuance Examination Committee also announced that it would restart the review of companies waiting for listing next month to promote the normalization of "market IPO". So far... the domestic listing direct financing channel that has been stagnant for almost a year and a half has been reopened.

Hearing this news...

The retail investors in the entire market were all wailing, complaining and angry, and at the same time... everyone also understood why the market was so weak this week, and the scammers were selling every day.

"Damn, the news must have leaked. I said, why are these main institutions running so fast."

Under the influence of the news of "market IPO restart", the voices of complaints and anger in the hostile market were boiling in an instant.

"You said you would maintain the market, is this how you maintain it?"

"You can't stand the market, right? As soon as it starts to improve, you start bleeding. This... can there be a bull market? Bullish, damn it... Clear all positions on Monday, no matter how much loss, I will clear it."

"No wonder the market has fallen for 4 consecutive days. The IPO restart is such a big blood-drawing machine. It would be a miracle if the market didn't fall."

"I was wondering why the 'securities and venture capital' rioted for no reason before. I thought it was the bull market expectations, but I didn't expect... the real speculation was the IPO restart!"

"It's terrible! Such a big bad news at this time."

"Damn... the market will drop to the limit next Monday. I'm fed up, sick of it, hey..."

"Look at it this way... on Tuesday, Fortune Road, there was a large-scale reduction in positions, and it was reduced so urgently. It should be that day Have you heard the news? "

"Fuck, fuck, restarting IPO at this time, are you crazy?"

"Listing has become a normal thing, how can the market take it? Crazy, crazy... It's crazy!"

"Wouldn't it be better to wait until the market is really bullish before restarting? It has to be at this time. No wonder the market can be bearish for 6 years. With this blood-sucking speed, how can the incremental funds catch up?"

"Hey, I thought I was a leek, but now I see... I am a blood bag."

"If this goes on, the leek roots will not be dug up."

"Restart it if you restart it. No one subscribes. I don't think it can be issued?"

"Yes, yes! If there is another wave of broken issues, IPOs will naturally stop."

"Vote with your feet on Monday and let the index fall to the limit. I don't think these guys can keep their faces?"

"The ChiNext and SME Boards are really going to hit the limit down. Over the past year or so, due to the stagnation of IPOs, many concept stocks on the SME Board and ChiNext have been directly hyped up by various hot money due to their scarcity, with price-earnings ratios of hundreds or even hundreds of times. Now... the scarcity is gone, and the valuation has returned to normal. The downward trend is really unstoppable!"

"Isn't it right? After the IPO is restarted, the listed stocks will be listed according to the normalized valuation, that is, according to the general price-earnings ratio of 22 times or 25 times. Then the many concept stocks on the SME Board and ChiNext will definitely Of course, they will be suppressed by valuations and experience a sharp drop. "

"Anyway, next Monday, the SME Board and the ChiNext Board are definitely finished!"

"Further falling? I'm so unlucky. I bought Huaqingbao at 86 yuan and have lost almost 30%. It seems... there is really no hope of getting my money back in this life!"

"Oh, I really regret not following the trend of reducing positions when Caifu Road reduced its positions."

"Looking back now, the day when Caifu Road reduced its positions was a clear reminder. Why didn't I understand it at the time?"

"Not only did they remind me that day, but they also reminded me for three consecutive days. Continuous selling, the liquidation trend is extremely obvious. In this case, there is no reduction of positions to avoid, so it can only be... really losing money based on strength. "

"What a sin! I entered the market after the National Day, and it feels like less than a month, and I have experienced a complete round of bull and bear markets!"

"Where is the bull? Where did my bull go? How did it suddenly become a bear? "

"Hey, this wave... these main funds are really ugly!"

"Don't blame them for being ugly. Anyone with a discerning eye can see that something is wrong with the market these days. What's more, the road to wealth is on the Dragon and Tiger List. It has been reminded for three consecutive days. I can only Say... you are greedy if you don't reduce your position to avoid it. "

"It's over, it's really over this time!"

"Who said before that this is a bull market and you can raise funds? It's okay... Fortunately, there is no financing, otherwise I would have no place to cry at this time."

"Hey, in the mind disk, the index has already hit the limit next Monday."

"If you want to go to the rooftop, hurry up, otherwise the rooftop will be full on Monday and there will be no place to jump."

In the extremely heated discussion, the news of the market's IPO restart was like a bundle of high explosives, which directly collapsed the already depressed and shaky market confidence.

So, as the news continued to ferment...

No matter how the regulators said that the IPO restart would have little impact on the market, no matter from what angle the analysts and financial media of various institutions sang the market from, and explained the impact of the IPO restart on the market, no matter how good the external trend was... it was impossible to save the collapsed emotions and confidence.

Over the weekend, as the news fermented, all investors' expectations were dark.

In everyone's mind disk, the index has hit the limit, the market is no longer saveable, and there is no need to save it.

During this period, many investors who were eager to enter the market to buy at the bottom gave up their plans to enter the market under the extremely pessimistic and dark mood expectations at this moment.

In short, before the market opened, everyone had lost all hope due to the market trend on Monday.

Investors trapped in the market were wailing, and investors who had light positions or short positions to avoid this huge negative news were also complaining and worried.

After all, it was not easy to raise a glimmer of hope for a bull market.

All investor groups participating in the market, whether they were heavy positions, light positions, or short positions, did not want the market to fall back to the continuous negative trend of the previous few years, and did not want to experience the days of daily negative declines without volume, which made people not want to open their trading accounts at all.

It was in this extreme emotion and in this despair of confidence collapse.

October 29th came, and the market ushered in the first trading day after the major negative news of "IPO restart" landed.

At 9:15, when the overall market sentiment was extremely cold and hundreds of millions of investors were nervous, desperate, yet seemed to be hoping for a miracle, nearly 2,000 stocks in the two markets entered the call auction.