Chapter 362: Bull and Bear Game!

"What's going on? The market was trending well, why did it suddenly take a sharp turn for the worse!"

Faced with the sudden and rapid plunge in the market, many investors who were eager to buy at high levels panicked and lost their composure in an instant.

"Damn it, just now, I said that my A-share market has stood up, but I didn't expect... it's still a weakling."

"Is it poisonous? It falls when I buy and rises when I sell!"

"Is 2200 points so difficult? Who is dumping the market? Are you crazy? Absolutely crazy!"

"Damn, it's fine if it can't break through, but after rising, it plunges sharply. What's the matter? It's another trend of killing pigs and cheating people? I'm so impressed!"

"With such a good mood today, can't it break through 2200 points?"

"It's hopeless, it can't even go up!"

"Breaking through the low 2200 point mark is like breaking through the 6000 point mark. Is it so difficult? Oh... I thought the market had reversed, but I didn't expect it to be so useless!"

"I'm crying, I chased it at the highest point!"

"Buried me again? I didn't dare to chase after the previous two days, but today I chased after it and it trapped me. Does this market have a grudge against me?"

"You can't play it like this? It's been killing for more than four months, isn't it enough?"

"Will this rebound end like this? This is... too short!"

"Will the market trend reverse again at 10 o'clock, just like yesterday's trend?"

"Yesterday was a wash, and today it broke through the barrier. Is it still a wash? Breaking through the high barrier has always been a one-shot effort, then weak, and finally exhausted. It doesn't make sense that the main force is washing at this time?"

"It's hard to say, let's wait and see!"

The crowd complained, doubted, puzzled, puzzled, stunned, and angry...

The market trading time quickly passed 10 o'clock in the morning.

In the last hope and hope of the majority of investors, the market did not usher in a reversal. Instead, after a small rebound and a brief rebound to 2190 points, it continued to plunge sharply.

At 10:10, the Shanghai Composite Index fell back to within 2180 points, and the increase was reduced to within 1%.

At the same time, popular concepts such as "infrastructure", "state-owned enterprise reform", "Shanghai Free Trade Zone", and "Internet finance", related industry sectors, and their popular stocks all fell sharply, and selling orders emerged in an endless stream. The entire market has completely lost its strong state at the opening.

And after the collective riot, it directly led to the collapse of the "securities" sector of the two cities.

At this moment, it fell all the way, not only wiping out all the gains since the opening, but also turning from red to green, and the sector index directly fell underwater.

"Damn it, who the hell pulled the 'securities' today!"

Seeing that the Shanghai Composite Index was on the way to fill the gap, it was gone forever, and breaking through the 2200-point mark became a luxury. At the same time, seeing that countless main funds in the market and various investment groups, after seeing that the Shanghai Composite Index had no hope of breaking through 2200 points, sold their chips one after another, stopped profits, or stopped losses and left the market. At this moment, in the Magic City, inside Xin'an Finance, in the trading room of the 'Future Investment Mixed Selection' fund product, Zhao Zhongming, the fund manager in charge of the product, was furious for a while, cursing: "Damn it, it's not the logic of the 'bull market' that is clear. At this time, pulling securities to disperse the core market funds will cause the market to collapse. It's stupid! It's really stupid!"

"What should we do now?" Yi Xiaopeng, the head of the trading team, asked Zhao Zhongming as he was furious.

At the moment when the index was fully attacking in the early trading, they had significantly increased their positions and followed up. Now... the floating losses of the increased funds are already not small.

That's why Zhao Zhongming was so angry.

Zhao Zhongming heard what Yi Xiaopeng said and knew that this was not the time to vent his emotions. He forced himself to calm down and said, "The Shanghai Composite Index failed to break through 2200 points. A large amount of funds in the market that had high expectations before will inevitably cut their positions and leave when their expectations are not met. Moreover, the index has been attacking for two days before, and a large number of short-term profit-taking orders have been accumulated. This adjustment may have to step back to the support of the box below."

"Hey, sell it! Sell part of the chips that can be moved in the account."

"Just do a reverse T today, control the loss to a constant amount, and maintain a certain position level at the same time."

"Since the index failed to break through, we made a mistake in the trading strategy, so we have to admit the mistake and stop the loss as soon as possible, which is a wise move!"

"Okay!" Yi Xiaopeng responded.

Then, he began to direct the traders to reduce the same chips that were chased at today's highs, lock in floating losses, and maintain a dynamic balance of positions.

At the same time…

As Zhao Zhongming guessed, because the expectation of the index breakthrough was not met, and at the same time, in the past two days, many profitable funds that caught the two main lines of "infrastructure" and "state-owned enterprise reform" and the losses were not large, many large capital institutions and even many large and retail investors who were afraid that the index would fall again and the losses would be further deepened began to turn from long to short and reduce their positions and sell.

Of course, at the time when these holding groups sold because of the failure of expectations.

Many institutions and investor groups that had missed the bottom of the "infrastructure" and "state-owned enterprise reform" and had very low positions, at this moment, followed the positions and bought, increasing their holdings of what they thought were cheap chips and high-quality chips.

In general, this is the moment when the original bears and bulls in the market exchanged identities and said goodbye to each other.

However, even if there is a considerable amount of funds, they are still taking over the market. However, on the whole, as the perception that "the Shanghai stock index failed to break through 2200 points" has become more and more deeply rooted in the minds of the majority of investors in the market, the market's active selling volume can , is still far greater than the volume of active buying.

At the same time, the market gathered strong bullish sentiment at the beginning of the session.

At this moment, with the continuous suppression of active selling and the continuous retracement of the index, it is also constantly declining.

In the end, under the continuation of this kind of selling suppression and emotional exhaustion, at 11 o'clock in the morning, the Shanghai Stock Index completely wiped out all the gains from the high opening and fell back to near the flat market, while the Shenzhen Stock Exchange Index and the ChiNext Index had already fallen into the water. , have recorded declines of more than 0.75%.

As for the core main lines of the two cities...

The related industry sectors covered by the two main concepts of "infrastructure" and "state-owned enterprise reform", as well as their popular stocks, have also increased significantly lower than when the market opened, and the net worth of the main funds on the market has shown outflows.

Among them, the intraday gains of China Railway and China Metallurgical Corporation have fallen back to about 3%. Although they are still stronger than the performance of the two city indexes, the intraday amplitude has also reached 5%; after China Fortune Land Development and Kumho Group exploded, , the increase has dropped all the way to around 5%; after the Shanghai Steel Union and Waigaoqiao crashed, the increase dropped back to around 4%; after the Shanghai Sanmao and Hi-tech Development crashed, it was relatively strong, maintaining around 7% .

The two cities, the entire field of ‘infrastructure’ and ‘state-owned enterprise reform’.

Still maintaining a strong state, the only companies that have sealed the daily limit are Beixin Road and Bridge and Shibei High-tech, which are regarded as conceptual leaders by the majority of investors in the market.

Of course, although these two stocks are still at their daily limit, their market volume has begun to gradually increase.

Among them, the transaction volume on the Shibei High-tech Market has reached more than 30 million. No one can say whether its strong status can last until the afternoon close.

"This trend is really right at the beginning, but not at the end. It's unexpected, unexpected!"

After the Shanghai stock index flattened its gains, the situation in the two cities was not optimistic, and the time was approaching the noon closing time. In the trading room of the proprietary investment department of Huashang Securities in Yanjing, Liao Guanghua, the general manager, stared at the market and said with a smile: "The two cities The transaction volume is 60 billion, and it seems that the transaction volume is expected to exceed 100 billion today!”

"If you can still laugh, it proves that you are still very optimistic about the market outlook." Zhang Guangnian, chief analyst of Huashang Securities, standing next to Liao Guanghua, said with a smile.

Liao Guanghua turned his head and looked at him and asked, "Why, you don't think you're optimistic?"

"Let's see how the market goes in the afternoon!" Zhang Guangnian replied, "If we continue to sell lower, I'm afraid we will have to explore the 2000 point position again."

Liao Guanghua said firmly: "The fall won't be deep!"

"Are you so sure?" Zhang Guangnian was a little surprised.

Liao Guanghua chuckled and said: "Of course! Pay attention to the explosion of volume energy in the morning. The strongest wave was naturally the time when the market opened higher and broke through the barrier. However, as the market index fell rapidly afterwards, the volume energy basically failed. It has not shrunk too much, and near midday, the market has increased its volume again, with a transaction volume of 60 billion! This proves that the market acceptance is still very strong, and the current funds are all in a low position. With the two days of "infrastructure" and " The two main concepts of state-owned enterprise reform have a money-making effect, and their willingness to increase their positions is quite strong. "

“If you have short funds, wait for entry at a low price.”

"Many fund companies and asset management institutions with low positions are eager to increase their positions."

"There are also large funds that have already tasted the sweetness and have taken large positions on the two main lines of 'infrastructure' and 'state-owned enterprise reform', taking the initiative."

"As well as the 2200-point hold-up that was initially loosened today and the short-term profit-taking that was almost cleared in the morning."

"How do you think the index, which was already at a low level, can fall to the point where the selling pressure has weakened, there is a takeover, and there are several smartest main funds in the market controlling the market?"

"Besides, if you are Mr. Su of 'Yuhang Investment', you have finally opened the curtain on the two core main lines of investment, 'infrastructure' and 'state-owned enterprise reform', and you have taken the initiative in terms of chip costs and created a The initial money-making effect of the market, as the core control force of these two main lines, will you let these two main lines with very clear logic fall further, and let those who are short-term get on the train again? "

“In the current market, ‘infrastructure’ and ‘state-owned enterprise reform’ are two main lines of investment with clear logic.”

"It basically condenses the attention and sentiment of investors in the entire market. As long as these two lines do not collapse, the market sentiment will adjust and pick up again soon. The Shanghai Stock Exchange Index is supported by these two main lines, and other blue-chip stocks, valuations It has been compressed to the limit and cannot fall, so naturally the Shanghai Stock Index cannot fall much.”

"Awesome!" Zhang Guangnian praised with a smile, "Your market analysis is really thorough."

Liao Guanghua said with a smile: "Look, after the huge earthquake in the afternoon, the trend will definitely exceed most people's expectations. Today's market trend can be said to be murderous without blood!"

As the two people spoke, the time reached 11:30, and the market prices in the two cities were frozen.

After the huge market shock in the morning, the Shanghai Index finally closed down at 0.23%, erasing all the gains at the opening and covering the gap opened higher. The Shenzhen Index and ChiNext Index fell close to 1% and closed down respectively. 0.89% and 0.96%.

Hot concepts and individual stocks.

Although the concepts of 'infrastructure', 'state-owned enterprise reform', 'Shanghai Free Trade Zone', and 'Internet Finance', which have attracted much market attention, have all fallen sharply and have gone out of the high-opening and diving mode, the sector index growth and Generally speaking, the performance of individual stocks is still significantly stronger than that of several major indexes.

The concepts of 'mobile Internet' and 'smartphone industry chain' are obviously not favored by the main funds and have not been stimulated by the market's recent big news. Although the increase in the past two days was not large, today's trend is still weak and still underperforms the market. The index perfectly explains the market saying that "an old faucet is not as good as a dog".

Of course, there are two main concepts of ‘mobile Internet’ and ‘smartphone industry chain’.

Today's disk performance, although very weak, is not the weakest concept sector in the market and the most criticized by investors.

Today, the concept and industry sectors that are most resented and criticized by investors, and are leading the market in the index dive, are undoubtedly the out-of-time ‘brokerage’ sector.

After all, this sector swallowed up a large amount of active funds in the market during the collective riot.

Not only did it fail to stabilize the market and help the Shanghai Composite Index stand at the 2,200-point mark, it turned around and fell violently, directly bringing down the entire market.

So, when the market closes at noon, during a short break.

Today, due to the failure of the index clearance, countless investors who were buried in chasing positions at high levels vented all their anger on the stocks of securities companies that performed extremely weakly and showed great strength but did nothing.

"I really didn't expect that brokerages would become the scapegoat for today's failed index clearance."

At around 12:40, in the internal trading room of Yuhang Investment Company, Li Meng returned to work after eating. After browsing countless hot discussion topics on the Internet, he couldn't help but smile and said to Su Yu. : “Have you never thought that under the circumstances of early trading, even if the brokerage sector does not diversify funds, the Shanghai Stock Exchange Index will not be able to stand at the 2,200-point mark?”

"It doesn't matter whether you have thought about it or not!" Su Yu responded with a smile, "Everyone just needs a vent to vent their emotions, and it just so happened that the performance of the brokerage companies today hit the muzzle of the gun, but... there is this vent, That’s good! This way everyone will numb themselves in their hearts and rekindle their hopes for the Shanghai stock index to break through 2,200 points.”

"What is lacking most in the current market? Hope and confidence!"

"As long as everyone still has hope and a little bit of confidence that the Shanghai Stock Exchange Index will break through 2,200 points, it will be a quick success if we give a little bit of support to stimulate the market's money-making effect, regroup emotions, and gather funds to follow the trend."

"So, it's good to have a brokerage as the scapegoat!"

"Listen to what you mean and the logic behind it..." Li Meng paused and said, "In the afternoon, do we still have to rely on the market? To maintain the hope and confidence in everyone's hearts?"

Su Yu nodded slightly and said: "Of course it is! The rebound trend that has been established with great difficulty cannot be abandoned like this, and... looking at the trend of the market in the morning and the amount of energy that has exploded, if you want to pick up chips at a low level, you can't. With less, we cannot allow the expectations and purposes of these funds to succeed.”

"The only way to maintain the market is to prevent them from picking up low-priced bargaining chips."

"Maintain the rebound trend on the market and continue to short them."

"These positions are insufficient. If you want to raise a large amount of funds at a low level, you will have no choice but to follow up at a high level and continue to carry the sedan chair for us. This will maximize the profit of our positions and extend the 'infrastructure' and 'state-owned enterprise reform' to the maximum extent." These two main lines of speculation are the vitality of the market.”

"Also, after the violent shock in the morning, the chip structure of the Shanghai Stock Index near 2,200 points has been significantly loosened."

"We will organize an offensive in the future, and the pressure will not be so great."

Hearing Su Yu's strategies and calculations, Li Meng was stunned, and then exclaimed: "Your long-short game using market funds is really amazing."

"Thank you!" Su Yu smiled softly.

Turning back to look at the big market screen in the trading room, I saw that the time had passed 1:00 pm sharp, and the stagnant disks of the two markets had begun to beat again.