Chapter 285 Greed and Fear in the Market!

I saw the stagnant disk flashing quickly.

Immediately afterwards, the entire market was surrounded by green. Of the nearly 2,000 stocks, there were only a few with less than 100 red stocks, and the rest all showed a low opening state. Moreover, all industries and concept sectors in the two cities did not have a red stock, and all remained red. Opening lower than 1%.

Especially related concept sectors with a high proportion of constituent stocks on the Small and Medium-sized Board and GEM.

Such as 'restructuring backdoor', 'smartphone industry chain', 'mobile Internet', 'ST sector', 'mobile games', 'Apple concept', 'Internet finance', 'film and television media' and other major concepts. The initial opening range of the concept sector was above 5%.

Related Core Concepts Stock…

Tickets such as 'Hua Qingbao, LeTV, Changqu Technology, Huake Financial, Shanghai Steel Union, Huayi Brothers, Anjie Technology, Flush, Oriental Fortune' have all been pressed to death on the lower limit at this moment, and the market On the market, the huge amount of orders is the main seal, and the funds to actively buy the bottom and take over the orders are very few.

"Damn it, this opening scene is really a direct trend of collapse!"

Seeing such a call auction situation between the two cities, Zhou Kan was extremely shocked in the trading room of Zexi Investment in Shanghai Magic City. He was stunned for a few seconds before he realized: "There are nearly 300 constituent stocks on the GEM. They opened lower than 5%, accounting for nearly 100 stocks. This battle... is really a complete collapse. It feels like all retail investors in the market are selling at this moment. "

"Confidence collapsed, and everyone naturally began to vote with their feet." Next to Zhou Kan, Xu Xiang looked at this market situation with a lot of emotion in his heart, thinking of the previous wave of consecutive index losses caused by the market's money shortage at the end of June. The plummeting market situation, he sighed softly and said, "However, under this kind of collapse mood, the index plummets without resistance, and it is easy to clear up the market's pursuit of higher prices. I believe it will not take two days for this wave of market adjustment. There is a high probability that it will fall completely.”

He believes that although the board at this time looks scary.

But in fact, whether it is the Shanghai Stock Exchange Index, the Shenzhen Stock Exchange Index, or the ChiNext Index, they have been adjusted continuously for almost a week. They have already responded to the major bad news about the restart of IPOs in the market. Coupled with the current stage, The positions of the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index and ChiNext Index are not high, and the depth of adjustment should be very limited.

According to his prediction, he believes that the Shanghai Stock Exchange Index will fall back to the range of 2100 to 2200 points at most, and the ChiNext Index will fall back to around 1100 points at most, which is about it.

In short, he believes that the current positions of several major indexes are in the bottom range.

Moreover, in this round of market conditions, the market volume is limited. The accumulated profits and new hold-up orders are not heavy after they have been significantly digested for a week. In the case of continuous plummets, the funds for large-scale bargain hunting are Those who can bear this part of the panic selling chips.

"Mr. Xu said... the market will not fall too deep here, and there is a chance for the market to recover?" Zhou Kanwei said in surprise, "But it looks... a bit scary!"

Xu Xiang smiled slightly and said: "The financial trading market is an emotional amplifier. Fear and greed are always going back and forth between the peaks and troughs of the market. The IPO restart is indeed substantial for the current market. Major negative effects will indeed cause serious blood-sucking effects on the current market, resulting in insufficient incremental funds.”

"But the overall market valuation, as well as the index point, are at a relatively low level."

"In addition, the bad news has been digested for several days, and many major funds have withdrawn in advance. At this moment, what everyone is thinking about...should not be fear, but when to enter the market to buy the bottom."

“After all, once a bad news comes to fruition, it is no longer a bad news.”

"Moreover, although this news has some impact on the market's incremental funds, it will not change the original market industry expectations and the future performance of stocks during the boom industry cycle. At most, it will suppress their short-term estimates. It’s just worth it.”

"In other words, the core logic of the market has not changed."

"It's just that in the past few months, GEM-related concept stocks have risen a lot. Now that the bad news is coming, everyone is taking advantage of the situation to adjust."

“If these early popular stocks on the GEM and small and medium-sized boards that have strong future expectations, the ability to continue to explode in performance, and the fundamentals can continue to significantly improve, can fall to a suitable price in this wave of bad news, then these stocks... will still be It has good investment and speculation value.”

"I dare to assert..."

"After the GEM has fallen completely, under the background that the 'mobile Internet' and 'smartphones' are destined to explode in the future, these core popular stocks on the GEM will still be pursued by major funds from all walks of life, and will also be pursued in the future. The future... will set new all-time highs.”

"So the plunge itself is not worth paying attention to."

"The opportunities after the market crash are what we should pay attention to and focus on."

"The restart of the market IPO will hit the market's short-term investment sentiment, but not the market's macro-fundamental trend... When we look at problems in transactions, we still have to look at the essence. If we blindly focus on the index and sentiment, then... after all, we ourselves It will also be driven by market sentiment.”

"Understood!" Zhou Kan nodded slightly, "What I saw was panic, but what Mr. Xu saw... was opportunity."

In essence, he also believes that the market will not fall very deep. After all, the restart of IPO market is a bit unexpected for the market, but it is not completely beyond expectations. From the perspective of the expected future impact on the market and the impact of macro fundamentals, Far inferior to the crisis at the end of June when the market was short of money.

The market came out of the last crisis easily, so there’s no reason why it can’t this time.

However, although he believes that the market will not fall very deeply, he is not as optimistic as Xu Xiang about his understanding of the subsequent market trends.

While the two were talking, time had passed by 9:20...

After the call auction shock from 9:15 to 9:20, as well as large-scale false orders and cancellations, the market performance at this moment is no longer as pessimistic as it was at the beginning of the call auction.

I saw that nearly 300 GEM constituent stocks have fallen by more than 5%, and have shrunk to 78 stocks. The stocks that have dropped their limit have also shrunk from 29 at the beginning of the market at 9:15 to 21. Their proportion of GEM constituent stocks For core popular concepts with higher weights, such as 'mobile games', 'Internet finance', and 'film and television media', the decline at this moment has also been reduced compared to 9:15. There have been significant dips in many stocks. Money poured in.

In the direction of the small and medium-sized board, the performance is similar to that of the GEM.

It's just that the conceptual sectors related to 'restructuring and backdooring', as well as many shell stocks and ST stocks, are still extremely weak. The number of stocks in the ST sector alone has reached the limit of 16. As for the shell stocks that were previously speculated, There are as many as 8 stocks that have dropped their limit.

In the direction of the main board, compared with the GEM and small and medium-sized boards, the performance is much better.

Although its related component stocks, heavy industry and concept sectors, are also opening significantly lower, the panic effect is not serious. Especially the banking sector and the petrochemical sector, which are only opening lower by 0.23% at this moment, and their core stocks, Stocks with trillions of market core weights such as Hua Commercial Bank, Huanong Bank, Huajian Bank, Huaguo Petroleum, and Huaguo Petrochemical are actually in the red.

As for being hyped by the market in advance...

The ‘securities and venture capital’ sectors are sectors that will benefit from the IPO restart in the market.

At this moment, although the low opening range is not large compared with the weighted concept sectors of GEM and small and medium-sized boards, within the sector, panic selling of related core concept stocks is still emerging one after another, and it does not show the benefits of the IPO restart. The sector should be as strong as it should be.

"With the good news, the two major sectors benefiting from the resumption of IPOs, 'securities and venture capital', have no performance at all. It's really surprising." In the Shenzhen Stock Exchange, inside the Xiniu Fund Company, in the trading room, general manager Liu Xin stared at the trading room. Looking at the market trends on the screen, he sighed, "This market trend... is seriously lower than expected!"

"It's not surprising." Next to Liu Xin, fund manager Fang Xinsheng said, "'Securities and venture capital', the two major benefit sectors from the restart of IPOs, were hyped in advance by the market and exceeded expectations. The chips on the market have been completely loose and scattered. Now the market The bright cards have emerged, but for these two major sectors, there are no potential expectations. Naturally, the main funds will no longer enter the market to speculate, helping to release the huge amount of retail chips that were trapped in the early stage. "

"On the GEM and SME boards, there are many concept sectors with future expectations..."

"At this moment, the negative position has landed, the reaction is overreacting, and there are signs of a complete fall."

"I guess... if the main funds are going to market next, this breakthrough direction will definitely not be the concept of 'securities and venture capital' that benefited from the restart of IPO. Instead, it has been continuously rising since mid-October. The sharp decline has continued, and now it has suffered a serious negative blow. The small and medium-sized boards and the early popular concept sectors of the GEM, which have been completely abandoned by the market and are bearish, such as the two main lines of 'mobile Internet' and 'smartphone industry chain', should still have opportunities. ”

"The negative news has just come to fruition. Is it a bit early to fall completely?" Liu Xin said, "I feel that funds will still go to the financial direction for risk aversion. Looking at the opening situation today...in the field of 'securities and venture capital', although due to expectations, Factors such as overdrafts and early speculation have shown relatively weak performance, but the banking sector is still very strong. At this moment, it is actually leading the rise in the industry sectors of the two cities, and... the stocks of the four major banks are all in the red. "

Fang Xinsheng smiled and said, "Mr. Liu, you might as well take a look at the two barrels of oil. They are pulling harder!"

After hearing Fang Xinsheng's words, Liu Xin turned his attention to the stock market of Huaguo Petroleum and Huaguo Petrochemical. Sure enough, he saw that these two checks were pushed up by a large amount of bargain hunting funds. Not only was the market red, but the increase had already increased from 0.1 at 9:20. %, rising to around 0.3%.

"This is... the core force of the market, protecting the index?"

There was no need for Fang Xinsheng to continue explaining, he already understood.

Fang Xinsheng smiled and nodded: "Although this method of hiding one's ears and stealing the bell is stupid, it still has to be used when it should be used. If the four major banks add two barrels of oil, maybe the call auction is over and the Shanghai stock index can still be in the red, but... even if It’s a red market, and today’s market sentiment is hopeless.”

"Specific market trends and market sentiment indicators..."

"You still have to look at the performance of the small and medium-sized boards and the GEM."

"Only when these two indexes, which symbolize the broad mid- and small-cap stocks in the market, stabilize, can the market truly stabilize."

"Only when the market of mid- and small-cap stocks stabilizes and has a sustained money-making effect, will the market have a real chance to pick up."

"That's why I said..."

"The key turning point in the market, and the direction that the main funds are willing to attack, must be the SME board and GEM that have fallen completely, not the main board finance, and other big players."

"This technique... is still as familiar as ever!" After Fang Xinsheng's analysis and understanding of the capital component of the bank's weighting, Liu Xin sighed helplessly, "It's just that face is more important than face. …I’m afraid the Shanghai Stock Exchange Index may not fall further.”

"Indeed!" Fang Xinsheng said, "Once the price falls, the adjustment time will be lengthened."

"but……"

Fang Xinsheng paused and then said: "The weighted industry sectors related to the Shanghai Stock Exchange Index are almost all traditional industries. In the current macro economy, real estate is suppressed, and the traditional industries have no good expectations. Even the main players of the 'national team' are not With this kind of deception, the Shanghai stock index’s shock adjustment will not end in the short term. From last year to this year, the core main line of the entire market has always been the small and medium-sized board and the GEM.”

"I believe in the direction of this market breakthrough triggered by macroeconomics..."

"The blood-sucking effect of a market's IPO restart cannot be sustained. In the follow-up... the small and medium-sized boards and the GEM will inevitably pick up after the adjustment."

"But after the collapse of market confidence, it is not easy to rebuild." Liu Xin generally agrees with Fang Xinsheng's more optimistic analysis, but he feels that even if the market falls completely in the short term, in order to reverse, the adjustment time must be I'm afraid it won't be short, "Market adjustment, space and time are both indispensable!"

Fang Xinsheng nodded slightly and said: "Mr. Liu is right, market adjustment is indeed indispensable, both space and time, but local market conditions do not require a comprehensive recovery of confidence to produce, in fact... emotions The recovery and re-establishment of confidence are also based on the sustained money-making effect.”

"For the majority of investors in the market..."

“As long as there is a sustained money-making effect, they will participate without hesitation.”

"The development of market conditions usually gradually spreads from local conditions to comprehensive conditions."

"For the size of our fund, as long as there are local profitable trends in the market that we can participate in, that is enough. When the market sentiment recovers and confidence fully recovers, it will actually be the market area on the right."

"Okay!" Liu Xin smiled and said, "Just as you said... when it's time to take action, we will take action. We missed the main line of speculation on 'securities and venture capital', but we will have subsequent opportunities." But it is entirely possible to seize the opportunity.”

"Of course it is!" Fang Xinsheng said confidently.

He admired the path to wealth, but he didn't believe that the other party could pinpoint the main trend points of the market every time, seize the market opportunity every time, and get the most generous profits when the main trend broke out.

As the two discussed, this moment...

Time has passed 9:25, and the collective bidding in the two cities has ended.

The Shanghai Stock Exchange Index was finally fixed at 2296.36 points, down 0.32%, the ChiNext Index was fixed at 1201.74 points, down 2.48%, the Shenzhen Stock Exchange Index fell by 1.52%, and the Small and Medium Enterprises Index fell by 2.33%.

In addition to the index...

In terms of sectors and individual stocks, the core concept sectors with relevant weights on the Small and Medium-sized Board and GEM led the decline across the board. The banking and petrochemical sectors were slightly red, leading the gains in the two cities. Among them... related core stocks, Huaqingbao, Changqu Technology, and Huake Jincai, Shanghai Steel Union, Xinwei Communication, etc. still closed the lower limit. LeTV, Wangsu Technology, Huayi Brothers, Fenda Technology, etc. opened the lower limit in the call auction, opening lower by 5% to 8%. wait.

In the direction of the main board, as well as the core stocks in the concept direction of 'securities and venture capital', the stocks of the four major banks, China Commercial Bank, Hua Nong Bank, China Bank, and Huajian Bank, opened slightly higher. Huaguo Petroleum and Huaguo Chemical opened higher at 0.45 respectively. %, 0.56%. Securities-heavy stocks such as Huaxin Securities, Huatong Securities, and Huashang Securities opened lower within 1%. The remaining stocks of popular securities companies in the early period all opened lower than 1%. The entire securities sector index fell 1.23%. opening.

In the direction of 'venture capital' concept stocks, Zhezhou Oriental opened lower by 7.26%, Dongfang Venture Capital opened lower by 4.73%, and a number of stocks such as Shibei High-tech, Zhangjiang Hi-Tech, and Zijiang Enterprise all opened lower by more than 2%.

"What kind of trouble is this? Why are the Shanghai Stock Exchange Index, the Small and Medium Enterprises Index and the ChiNext Index so divided?"

Seeing such an opening situation, Li Meng was a little surprised in the trading room of Yuhang and Yuhang Investment Company: "Even if the IPO market restarts, the valuation suppression and blood-drawing effects on the market will mainly affect small and medium-sized boards and entrepreneurial companies. Most of the concept stocks on the board, but the opening decline gap between the Shanghai Stock Exchange Index and the ChiNext Index is too big.”

"Look at the growth of the banking and petrochemical sector indices, as well as the stock price performance of the so-called 'core assets' such as China Commercial Bank, China Banking Corporation, China Agricultural Bank of China, China Construction Bank, China Petroleum Corporation, China Petrochemical Corporation, and China Construction Corporation. You will feel that it is normal." Su Yu, who was sitting in front of the computer next to Li Meng, smiled and said, "Don't talk about the 2% drop difference, even if it is a 5% drop difference, it is a matter of 'face'. It’s not impossible.”

"But the 'national team funds' are pulling the market, apart from making the index look better, it can't have any effect!" Li Meng said, "According to the opening trend of the GEM and small and medium-sized boards, the mood in the market has collapsed, and There are no obvious hot spots that can drive market sentiment, so panic selling is the only way to go in the market today.”

Su Yu smiled and said: "Just make the index look better. The prosperity on the surface is also prosperity, isn't it?"

"but……"

Su Yu paused and then said: "In addition to the index performance, it is a bit surprising that the two main lines of 'mobile Internet' and 'smartphone industry chain' opened so much lower today, especially Hua Qingbao, Changqu Technology, Shanghai Steel Union... these stocks all fell to the limit. "

"Including this limit, the retracement of these tickets from historical highs has generally exceeded 35%!"

"Among them, there are several that have reached the point where they are almost cut in half."

"This decline has been seriously oversold in the short term."

Li Meng nodded and responded: "Indeed, compared with the stock price when we entered the market, it generally fell by about 35%. Market sentiment... is really wonderful. While the fundamentals of individual stocks are still getting better, pure emotions at both ends Changes, the stock price gap can be so big. "

"Hype, from another perspective, is essentially the induction of emotions." Su Yu said, "The two main lines of 'mobile Internet' and 'smartphone industry chain' have plummeted in panic. After this wave of emotions is vented, It’s really the stage of planning and hype again.”

Originally he thought...

After the market's continuous decline in the previous week, today's performance should not be so dramatic. After all, the negative news has already been reflected before.

However, looking at it at this moment... he still underestimated the market's ability to sell off under extreme emotions, as well as the ability of many retail investors to sell in panic.

Of course, it's good for him to get it right in one step.

The market's reaction in this way is equivalent to accelerating the time for him to return to the two core concepts of "mobile Internet" and "smartphone industry chain". It will also intensify the market's subsequent trend amplitude.

"Didn't you say before that you would wait until the Shanghai Stock Exchange Index and ChiNext Index fell back to their previous shock levels before making plans?" Li Meng said, "It seems that the distance is still a little short of that."

Su Yu said: "With the participation of the main capital of the 'National Team', the Shanghai Stock Index has become distorted. So the main core indicators have to keep an eye on the small and medium-sized boards and the GEM. Currently... the GEM index is far away from the 1100-point platform. There is indeed still a long way to go, but due to the differentiation of individual stocks, many stocks have actually fallen below the 1100 point position of the ChiNext Index at this moment. However... if we want to reverse our positions, we still have to wait for the market to get rid of the current panic. , Let’s talk about it after it’s almost vented.”

“Look at the market’s trend today and the overall emotional reaction!”

"The plan is dead, but the market and people are alive. It is normal to make slight adjustments to the plan amidst actual changes in the market."

"Okay!" Li Meng nodded and continued to turn his eyes back to the board without asking any more questions.

At this time, the time had already passed 9:30, and the two cities ushered in the official bidding transaction.

At 9:31, the weight of the so-called "core assets" in the banking and petrochemical sectors, with the support of the "national team" funds, also clearly understands the market situation and understands that this area will be the safe haven area in today's market. Chased by funds from all walks of life, the gains further expanded.

At 9:35, China Commercial Bank, Huaguo Bank, Huanong Bank, Huajian Bank, Huaguo Petroleum, Huaguo Chemical and other heavyweight stocks in the Shanghai Stock Exchange Index with a market value of trillions each rose by more than 1%. At this moment, the Shanghai Stock Exchange Index also rose by as much as At the same time, the Shenzhen Stock Exchange Index, the Small and Medium Enterprises Index, and the ChiNext Index continued to expand, and panic selling and panic selling continued to increase.

At 9:42, the Shanghai Stock Exchange Index remained fluctuating between 0.5% and 0.6%, and the ChiNext Index and Small and Medium Enterprises Index fell by 3%. More than 50 stocks in the two cities fell to their limit, and nearly 2,000 stocks in the two cities, more than 90% of the stocks, They are all falling, and the 19-9 effect is extremely obvious.

At 9:52, the decline of the ChiNext Index and the Small and Medium Enterprises Index expanded to 3.5%, and the number of stocks in the two cities expanded to 67. However... at this time, the increase in the banking sector index expanded.

At 10:02, the Shanghai stock index fell to 0.23%, maintaining a slightly red market. The GEM index's decline expanded to 4%. Among the nearly 300 component stocks belonging to the GEM, half of the stocks fell by more than 5%, of which more than 30 stocks fell by the limit, and Panic continues to expand, and the market's ability to take over continues to weaken.

At 10:22, the Shanghai Stock Index fell back to the opening point, falling slightly. The GEM Index's decline expanded to nearly 4.5%, approaching 1180 points. Among them, the GEM Index refers to the core weight stocks, Wangsu Technology, LeTV, and Oriental Fortune. They all fell by more than 7%, heading towards the limit.

At 10:36, the number of stocks in the two cities exceeded the 100 limit, but... the Shanghai Stock Index turned red again.

At this time, countless investors inside and outside the market who were watching the market were desperate and angry about this strange trend in the market.

"Holy shit, what the hell is going on? The ChiNext Index has dropped almost 5%, but the Shanghai Stock Exchange Index is still in the red."

"What the hell... I'm so shameless!"

"What's the point? What's the point? 92% of the stocks in the entire market are falling. Even if the banks and the two oil companies are pulled to the daily limit, can they save the collapsed market?"

"This is nothing more than covering one's ears and stealing a bell!"

"I said before that the main institutions that hyped up "securities and venture capital" in advance were ugly. Now I take back what I said before. Damn... Huajin and Huijin, which control banks and the two oil companies, and many core main funds with state-owned backgrounds are really disgusting. After so many years, they are still using the same routine."

"The situation is good, and we can't lose face. I understand, I understand!"

"Don't watch it. It is estimated that the ChiNext Index will hit the daily limit, and the Shanghai Composite Index will still be red."

"This market is really hopeless. Sell, sell, and clear the warehouse directly... It's really tiring!"

"Damn, all the stocks I hold have hit the daily limit. I want to sell them. I can't sell it. I look at the banking sector and the two oil companies. I'm really angry. "

"Everyone, vote with your feet. Anyway, I've cleared my position."

"I'm so angry. This market is so uncomfortable. The performance of banks and the two oil companies was like a dog throughout the year. They could never outperform the market. At this moment... they are just blind. Hey... Do you really think that the eyes of the whole market are blind!"

"The more you pull the banks and the two oil companies, the faster the market will collapse!"

"Yes, the Shanghai Composite Index is in the red, which is completely a cover for the main players in the market to sell and compete for the last market liquidity. It has bad intentions!"

"Everyone fell, fell all at once, and fell through. How good would it be?"

"On this special day today, the market really hit the limit. How can people save face? After all, the Shanghai Composite Index is in the red, which means that the majority of investors in the market welcome the restart of IPOs Well."

"No wonder the main players of various hot money in the market never touch these core weights. It is simply blatant manipulation of stock prices."

"What are you talking about? How can this be called stock price manipulation? It is clearly adjusting the market from a macro perspective. Of course... we leeks have always been the objects of adjustment."

"Very good, the A-share market has always been a spectacle maker, so it is not surprising."

"If you can sell, sell it quickly. Looking at the situation... the index will definitely go straight to the limit in the afternoon. Of course... I am talking about the ChiNext Index. The Shanghai Index... it may also go up to the limit."

"It is still possible that the bank will go up to the limit and the ChiNext will go down to the limit."

"The market value of the entire ChiNext is not even half of the banking sector. If the bank goes up to the limit, even if the ChiNext Index goes down to the limit, the Shanghai Index will still be red."

"Seeing your own positions Stocks, all hit the limit down, and then look at the Shanghai Stock Exchange Index... I really want to cry but can't!"

"Pulling banks can be said to be related to the restart of IPOs, but pulling the two oil companies and the petrochemical sector is really too much!"

"If you can pull up Qianneng Hengxin, that would be great!"

"It's useless! The negative news directly hit, plus such a weird polarization trend, everyone's confidence in holding positions has completely collapsed. At this moment, unless tens of billions of funds are used to pull all the hot concept stocks of the SME Board and the Growth Enterprise Market that are stuck on the limit down board to the limit up board, it will not drive market sentiment. "

"Yes, for five or six consecutive trading days, all the funds for bottom-fishing have been buried, and the burial is getting deeper and deeper. At this time... who dares to catch the flying knife?"

"Alas, the bear market is still suitable for A-shares, as for the bull market... it is estimated that it will be in my lifetime! ”

Amidst the extreme complaints and the complete collapse of investment confidence, the market situation is still moving towards an extremely torn form.

At 11:06, the ChiNext Index hit a 5% drop again during the day after June 25, and at this time... the Shanghai Composite Index was still in the red.

At 11:12, after hitting a 5% drop, the ChiNext Index briefly welcomed support and fell into a volatile state, while the Shanghai Composite Index... seemed to be stationary at a 0.2% to 0.3% increase, as if it had stopped trading. Of course, while the Shanghai Composite Index remained stable and volatile, the banking sector index reached new highs, reaching a 2% increase, especially the stocks of the four major banks, which all rose by more than 2.5%.

At 11:25, near the midday closing, the market fell into a significant shrinking stage, with a total of 125 stocks in the two cities hitting the limit, and the number of stocks in the red was almost the same.

At 11:30, the two cities ushered in the midday closing.

In the end, the Shanghai Composite Index was rated at a 0.11% increase. The Shanghai Composite Index still holds the 2,300-point line, while the ChiNext Index is fixed at a drop of 5.02%. After breaking through the 1,200-point mark, it slid all the way to the 1,170-point line.

After the midday close...

Facing the extremely torn and plummeting market.

All investors have expressed extremely pessimistic views, believing that the stock market crash has already occurred, and that this wave... The Shanghai Composite Index will test the 2,000-point mark again, and the ChiNext Index will test the support of the 1,000-point mark again.

And affected by the extremely pessimistic market sentiment.

Many main funds that originally planned to buy the bottom, as well as large and retail investors with empty or light positions, have become hesitant at this moment, and have given up the intention of intervening in the market at this time to catch the flying knife.

So far, the potential incremental capital power of the market has been further weakened.

The short-selling power has become stronger and stronger in the continuous fermentation of panic, causing the market to completely become a form of panic, a gap in the carrying power, and a comprehensive suppression of shorts.

Of course, during this period, a group of core market funds such as Huajin and Huijin, due to the task, resolutely protected the market and desperately pulled the Shanghai Index up, which indirectly caused a reverse effect on the market, causing many retail investors who were originally trapped in the market and hesitant to join the army of selling at a loss.

In the end, under such emotions and such a situation...

At 1 pm, the Shanghai Index, which had resisted the decline of 5%, was once again killed by the panic selling of the market, and the decline was further widened.

At the same time, the SME Index, and even the entire market stocks except banks and the two oil companies.

All completely lost liquidity.

At 1:12, the decline of the ChiNext Index widened to 6%, and nearly 300 constituent stocks, more than one-seventh of the stocks hit the limit down board. At the same time... When the market liquidity began to dry up and the carrying capacity had completely collapsed, the Shanghai Index was still dangling at a flat position, holding on to 2,300 points.

At 1:22, the two markets experienced a rapid flash crash due to the lack of liquidity.

In just a few seconds, the ChiNext Index fell from around 6% to around 8%. More than 4/4 of the nearly 300 constituent stocks hit the limit down. At the same time, the Shanghai Composite Index could no longer stabilize and fell by nearly 2 points.

"Oh my God... This is too scary!"

At the moment when the liquidity of the entire market was exhausted, panic orders gathered and the index collapsed straight, Li Meng's eyes widened in the trading room inside Yuhang and Yuhang Investment Company, her heart was in her throat, and she was extremely shocked.

Even though she had seen the straight-line collapse of the market on June 24 and June 25 due to the "money shortage crisis", she was still shocked by the 8% drop in the ChiNext Index.

She never thought that the market today would be so tragic.

The entire market, buying orders were exhausted, and all investors were selling, and they were the kind of selling that ignored logic and reason, and was purely panic selling.

"Buy it! All the panic orders and floating chips in the market are all out at this moment." While Li Meng was shocked, Su Yu stared at the ChiNext Index, which had fallen by more than 100 points in one day and had already fallen to around 1130 points. With a flash of light in his eyes, he suddenly issued an order, "Core concept stocks in the two major directions of 'mobile Internet' and 'smartphone industry chain', and stocks that have hit the limit, such as 'Fenda Technology, Netspeed Technology, LeTV, Flush, Oriental Fortune, Huake Jincai, Hengsheng Electronics...', all placed orders to buy, sweeping their limit downs."

"Buy?" Li Meng was stunned, thinking she had heard wrong.

Su Yu nodded slightly, staring at the market intently, and repeated: "Yes, buy in. Extreme emotions have emerged, and all the panic orders in the market have been vented. Almost all the main-line core concept stocks have been blocked by huge sell orders at the limit down. What a good buying opportunity, what a good time to turn around positions!"

"Buy!"

Su Yu said firmly again: "The ChiNext Index has fallen sharply and has reached the target position. Greed and fear are often only a fine line apart. The national team rescued the market in the wrong direction and used the wrong method. Next...it's time for us to go out and seize the opportunity of the next round of main-line market, reverse the market, and let everyone rekindle the hope of a bull market!"