Chapter 451 Market Avalanche Caused by 120,000 Sell Orders!

At 1:25, following the SME Board, the ChiNext Index turned positive and rose, while at this moment, the Shanghai Composite Index was still fluctuating around a 1% drop, with no obvious upward intention.

At 1:30, the Shenzhen Composite Index also barely turned positive and rose, and the Shanghai Composite Index narrowed its decline to around 0.85%.

At 1:35, the two major market-leading sectors, film and television media and Apple concepts, rose by more than 2.5%, and the intraday amplitude almost reached 4%. Among them, the core component stocks in the two sectors, Shuobei and Changqu Technology, actually came from behind and began to break through the daily limit under the focus of the main speculative funds.

At 1:37, Changqu Technology closed the daily limit, and at the same time, the "mobile game" concept sector rose rapidly.

At 1:38, the ChiNext Index rose by 0.5%, and the Shanghai Composite Index further narrowed its decline to around 0.7%.

At this time, the vast investor community in the market saw that the two core themes of "mobile Internet" and "smartphone industry chain" had vaguely led the market out, and the money-making effect in the market was expanding. They all thought that today's deep V trend was in sight, the market had reached the bottom in the short and medium term, and it was time to truly usher in a wave of violent rebound.

The next moment, 1:40.

The core component stocks in the fields of "infrastructure" and "state-owned enterprise reform" that had originally performed well and were slowly rebounding, Huaguo Zhongye suddenly encountered extreme selling. 12 consecutive large orders of 10,000 lots were sold at the market price on its disk. In just half a minute, its stock price was killed from a drop of 1.35% to the limit, and the stock was directly killed through the disk of this stock with an extremely tragic selling method.

Then, at 1:42, Huaguo Zhongye fell to the limit.

Similarly, with the flash crash of MCC, a number of other core stocks in the fields of "infrastructure" and "state-owned enterprise reform" were also affected. The selling volume of related stocks increased sharply in an instant, and the stock price trend also fell rapidly again.

At 1:44, this avalanche effect spread to the entire "infrastructure" and "state-owned enterprise reform" sectors.

At 1:45, following MCC, the real estate sector's "Golden Land Group" also rushed to the limit with a flash crash. At the same time, the decline of previous high-priced stocks such as China Fortune Land Development and Kumho Group also expanded instantly.

At 1:46, among a number of popular core stocks that continued to dive straight, this avalanche effect continued to expand and spread to almost all state-owned holding stocks in the two cities.

At 1:47, affected by this drastic impact, the decline of the Shanghai Composite Index expanded again to about 1.1%.

At the same time, the decline of the Shanghai Stock Exchange Index widened again, and a number of industry sectors and concept sectors related to the two core themes of "infrastructure" and "state-owned enterprise reform" continued to plunge, and the decline of the "military industry" sector continued to expand. Under the influence of the red Shenzhen Stock Exchange Index and the ChiNext Index also fell back to the bottom again and turned green again.

At 1:48, among the important index fields of the two cities, only the SME Index remained in the red market.

Then, when the time reached 1:50, the avalanche effect of "Huaguo Zhongye" began to spread from stocks with state-owned backgrounds to all relatively high-priced stocks in the two cities that had been hyped in the previous round.

It was also from this moment that the group of investors who had just been excited to chase positions and felt that the market had probably bottomed out, once again realized that the market's momentum for selling had not weakened at all, and the entire core themes such as "infrastructure", "state-owned enterprise reform", and "military industry", and even the relatively high-priced stocks that had been hyped in the early stage of the entire market, had not really fallen through.

And when everyone realized that the market had not fallen through at all, and the so-called bottoming out and reversal was too early.

The market had just received good buying power, but it could not help but weaken again. The cautious and hesitant investment sentiment rose rapidly, and the two main lines of "mobile Internet" and "smartphone industry chain" with good growth just played a money-making effect, leading the market index out of the intraday trough. At this moment, they also quickly declined. The funds that actively bought in the market quickly withdrew their orders like the ebb tide.

At 1:53, as the market investment sentiment weakened rapidly and the buying funds withdrew their orders one after another, the buying volume of the entire market began to break.

At 1:55, the industry sectors such as "film and television media", "electronic information", "Internet software", and "Internet application" that led the two markets, following the diving of the industry sectors and concept sectors related to the main lines of "military industry", "infrastructure", and "state-owned enterprise reform", once again ushered in a relatively rapid and rapid dive.

At 1:58, Changqu Technology, which had been trading at the daily limit, broke the limit, and the concept of "mobile games" quickly rose and fell.

At 2:01, the only index in the two cities that was in the red, the SME Index, turned green again. So far... after the intraday rebound, the major core indexes of the market have fallen again.

"Fuck, this trend is simply poisonous!"

Seeing the good rebound trend of the market, it was cut off again after the flash crash of "Huaguo Zhongye". At this moment, in the Magic City, inside Zexi Investment Company, in the fund trading room, Zhou Kan was so shocked that he said: "If it weren't for the sudden flash crash of "Huaguo Zhongye", the market rebound trend today would have a high probability of success. The two main lines of hype last year, "mobile Internet" and "smartphone industry chain", almost recovered comprehensively and opened up the market's profit space. Unexpectedly... it was cut off abruptly."

"I'm thinking..."

Zhou Kan paused and then said: "This check from China Metallurgical Metallurgy suddenly has such a strong selling force. Who is selling it? The state-owned assets agency? Or Mr. Su from the 'Yuhang Department'?"

"It's really hard to say who is selling the 'China MCC' check that triggered the avalanche of the entire market." Xu Xiang responded, "But for this check, there should be data on the Dragon and Tiger List today. You'll know after the closing. ”

"As for the overall performance..."

Xu Xiang thought for a while and continued: "Even if there is no flash crash trend of 'China Metallurgical Corporation', the two core main lines of early speculation, 'infrastructure' and 'state-owned enterprise reform', as well as a number of relatively high stocks that were previously speculated Without a complete fall, and without a thorough adjustment of the chip structure on the market, the two lines of 'mobile Internet' and 'smartphone industry chain' must create sustained money-making effects and market conditions, thereby driving the entire market to touch the market. It is still quite difficult to reverse at the bottom, and these two lines... I always feel that there is always something lacking in logic, and it is difficult to assume the main breakthrough direction of the market and completely drive the market! "

"Is there something lacking in logic?" Zhou Kan was slightly startled and said, "Isn't that true?"

By observing the market, he can clearly feel that the two core main lines of 'mobile Internet' and 'smartphone industry chain' have basically been in place regardless of the time and space for adjustment. Moreover, in the current domestic primary market, Investment enthusiasm in the direction of 'mobile Internet' is still rising, and many equity investment funds have poured into this field. Logically speaking, in such a hot investment atmosphere, the secondary market should also perform well.

What's more, the era of 'mobile Internet' and 'smartphones' has indeed arrived.

It is foreseeable that the business development environment, revenue environment, and profit scale of large-scale listed companies in related fields will also increase dramatically in this huge era.

In other words, the expected future effects of these two main areas are not bad no matter what.

Naturally, there is room for storytelling and performance, which means that it naturally has the gene for hype.

Of course, there are also disadvantages, that is, these two main lines have been speculated round after round by various active main funds in the market performance last year and even the year before. Whether it is the valuation level or the historical position of the stock price, Compared with other main areas of the market, it is not considered low.

"The genes for speculation are there, but the price/performance ratio is not high compared to the entire market!" Xu Xiang took over and continued, "And the performance of these two main areas last year generally grew at a high rate, which raised the base this year. It is unrealistic to think that the performance of these two areas will continue to explode.”

"besides……"

Xu Xiang paused and continued: "Everyone is anticipating the arrival of the 'mobile Internet' and 'smartphone' eras, and their expectations have been raised. In this case, there is no difference in expectations. Thinking about these two fields, It’s difficult to perform beyond expectations.”

"Of course, as the future expectations of market investors in these two major areas continue to be high, the core component stocks related to these two main lines will not fall much. After all, if they fall, it will be an opportunity. On and off the market, smart funds will It’s definitely a lot, and we won’t give you the opportunity to raise funds too cheaply for subsequent entry.”

"Similarly, investors' strong expectations in these two directions have also caused the chip structure of these two main areas to be difficult to switch cleanly."

"And the chip structure cannot be converted cleanly, when market liquidity is limited and incremental funds are limited."

"In these two major areas, it is difficult for incremental funds to continue to attack vigorously, thereby achieving a sustained money-making effect."

“Actually, compared to the two core main lines of the market, ‘smartphone industry chain’ and ‘mobile Internet’, I am still more optimistic about the market conditions of the two main lines of ‘infrastructure’ and ‘state-owned enterprise reform’ after thorough adjustment.”

"What's the market situation in the two main areas of 'infrastructure' and 'state-owned enterprise reform'?" Zhou Kan was a little surprised and continued, "Looking at today's scene, these two main areas have been completely abandoned by the main funds in the market. , it’s almost a collapse trend, where is the slightest sign of strength?”

Xu Xiang smiled and said: "If it falls hard, then the chip structure will be fully adjusted. In my opinion, this is not a completely bad thing."

"But the money-losing effect is so obvious, and there are obvious concerns about the follow-up intervention of main funds." Zhou Kan responded, "Furthermore, the decline was so severe. Although the internal chip structure was disrupted, the vast number of retail investors who took over the process along the way held on to their chips. , are also piled up like a mountain, forming a huge suppression on the market. Under this situation, it will not be easy for these two main lines to regain momentum. "

Xu Xiang smiled and said: "As long as the logical expectations are still there, the stock price drops completely, and the price-performance ratio is revealed, the lock-up of retail investors gathered will never be a problem. After all, the retail investor group is the most emotional. Collect the chips in their hands, or When the market makes money, it will be easy to induce them to follow the trend and consume each other. "

"That's true!" Zhou Kan nodded slightly, thought for a while, and then said, "What does Mr. Xu think of the 'military industry' line?"

During Zhou Kan's questioning, Xu Xiang turned his attention to the main line of "military industry", which still led the market decline and suffered a worse decline than the avalanche of "infrastructure" and "state-owned enterprise reform" related industry sectors and concept sectors. He sighed softly and said: "It's hard to say. The trend of the "military industry" line is really a bit confusing. I originally thought that there should be a period of market on this line, but I didn't expect that the market could not form a joint force on this line at all."

"However, the trend of this line today is also a bit strange. It always feels that it has been killed too much."

"There is no bad news, but it is worse than the avalanche of "infrastructure". ', 'SOE reform' main line, the trend of a number of industry sectors and concept sectors is still miserable, and there are obvious signs of excessive selling of major funds in the market. "

"I also feel that the trend of the 'military industry' line is too tragic." Zhou Kan said, "But this line is indeed not a hot spot in the market. Both retail investors and active major funds in the market have relatively pessimistic expectations for this line. Excessive selling can also be explained."

Xu Xiang was silent for a moment, nodded and responded: "Indeed, I have been observing for most of the day, but I still haven't seen strong major funds taking over the 'military industry' line. I'm thinking... let's We may have misjudged this line before."

"Fortunately, we didn't buy much." Zhou Kan said with a little luck in his heart, "and after half a day of continuous liquidation, we have basically sold out. The total loss of holdings is less than 5 points, which is within our tolerance range and will not affect the net value performance of the fund too much."

Xu Xiang responded: "Since you have already withdrawn, there is no need to pay too much attention, or think about the right and wrong of past trading strategies. It is better to focus on the present and look to the future!"

"Yes!" Zhou Kan responded, saying, "Since Mr. Xu thinks that "infrastructure" and "state-owned enterprises" are Reform' these two main lines are likely to be the direction of the market's breakthrough after the market adjustment. So now... should we follow up some positions in these two main lines and pick up some panic selling chips? "

Xu Xiang thought for a while and said: "The market has not shown the signal to stop falling, and the Shanghai Composite Index is expected to be 2200 points, which is so strong that it is unlikely to hold up. I estimate that the most panic selling moment in the market has not yet arrived, so... wait a little longer. At this time, patience is more important."

After speaking, he continued to look at the two markets that were trading fiercely and stopped talking.

Almost at the same time.

Yu Hang, inside Anzhao Fund Company, in the 'Selected No. 1' fund product trading room, Zhou Hui and Qin Qiuyue, who were still on the market, actively sold off a large amount of stocks. Seeing that the market fell into a unilateral plunge due to liquidity depletion after entering 2:30, their hearts were almost cold.