Chapter 223 Performance after the Big Drop (Two in One)
Chapter 223 Performance after the crash (two-in-one)
Author: Ru Meng Ru Hua
Chapter 223 Performance after the crash (two-in-one)
The unexpected trading suspension of Dongfang Fortune also disrupted Gu Junhao's trading plan. He originally wanted to confirm whether the GEM index was in place by observing the trend of Dongfang Fortune.
However, now that something like this has happened, there is no other better way than to deal with it.
"I hope it won't stop for too long, otherwise the fund's net value this week will be a bit too ugly." Gu Junhao said to himself.
It is a very painful thing for funds to be locked up in stocks and cannot be traded for a long time. In the past life, when thousands of stocks fell to the limit, I had such an experience with the stocks in my hand.
As for the operation of actively seeking a trading suspension, such as using funds to support ST backdoor transactions, it is different from the passive trading suspension of Dongfang Wealth.
By the way, this year’s restructuring theme is also a hot topic in the A-share market, and many stocks have doubled in this round of market prices since the beginning of the year.
In the few years before the registration system was officially liberalized, backdoor listings were always a hot topic. Companies such as Yinzhijie, although not backdoor listings, were also caught up in the popularity.
Dongfang Fortune's trading suspension also gave Gu Junhao certain expectations for Yinzhijie's trading suspension. He just hoped that the two stocks would not be suspended at the same time for too long.
Originally, my colleagues and some people who paid more attention to me had almost determined that I held Dongfang Wealth heavily.
When the stock prices of Xibu Securities and Wan'an Technology have not changed much, if the two heavily held stocks are suspended from trading at the same time, the net value of the fund will remain unchanged after the sharp drop.
That is almost a real deal for the holdings of Junshi No. 1.
There are many people who were guessed by Gu Junhao. During his trip to the Shanghai stock market last week, dinner and exchange meetings, many colleagues wanted to know about the positions of Junshi No. 1.
However, whether it was an explicit inquiry or an insinuation, Gu Junhao changed the subject; regarding his positions, he should try not to announce them if possible.
——
"Dongfang Fortune has suspended trading. If the suspension lasts long enough, we can probably determine the specific position held by Junshi No. 1." Wang Chao said while looking at Dongfang Fortune's announcement.
Although he admired Gu Junhao privately, he still wanted to compete with Junshi No. 1 in terms of fund performance.
Among the rankings announced last week, Henghua No. 1 ranked second with a net worth rate of 1.5224, which is still a long way from Junshi No. 1. However, Wang Chao did not give up.
Perhaps, Dongfang Fortune's suspension is a good opportunity.
Regardless of whether Gu Junhao admits it or not, Wang Chao has determined that Junshi No. 1 must hold a heavy position in Dongfang Fortune, and through the suspension of Dongfang Fortune, its specific position can be judged roughly through changes in net worth.
During the suspension period, the income is 0. If the position is heavy or even full, then the income of Junshi No. 1 in the next few days this week will definitely change very little.
However, all this must be based on the premise that Dongfang Wealth’s trading suspension time is long enough.
"Theoretically, it won't be suspended for too long. The suspension of trading for equity incentives will only last for a week at most," Shi Xin replied.
"Indeed, in fact, we have no effect in doing this. Essentially, we still need to improve our profitability." Wang Hao sighed.
Knowing what he could do, before meeting Gu Junhao himself, Wang Chao had already given up the idea of using abnormal means to stop Junshi No. 1.
After meeting Gu Junhao himself, Wang Chao wanted to defeat Junshi No. 1 openly and openly and regain the top spot.
"It's not useless. Knowing the approximate position of Junshi No. 1, we can adjust our own position."
Shi Xin said, in fact, Dongfang Wealth fell sharply yesterday, and Shi Xin wanted to persuade Wang Chao to increase Dongfang Wealth's position. In his opinion, real profits are less important than fighting for the first place.
Even if you follow the trend, so what; as long as you can make money and bring tangible benefits to customers and the company, that's all.
However, Wang Chao did not adopt Shi Xin's suggestion. Henghua No. 1 currently also holds a part of Dongfang Wealth, but the specific position is not heavy. In this round of adjustments, Wang Chao reduced his holdings a lot.
Obviously, in Wang Chao's view, being ranked number one in private equity is more attractive. This is a great opportunity for him to become famous.
We are already infinitely close to this position. As long as we don't make mistakes and follow our current steady and steady style, we will be fine.
But who knows, if Gu Junhao comes out halfway and follows the trend and buys Dongfang Fortune, he may be able to get a good rate of return, but he will definitely not be able to beat Junshi No. 1.
However, the suspension of trading by Dongfang Fortune gave Wang Chao new hope.
——
On Wednesday, Gu Junhao, who came to the trading room, faced Wang Ruoyu's inquiring eyes and said, "It's okay. A normal trading suspension can be considered a good thing."
Generally speaking, for such a trading suspension after a sharp drop, as long as the market does not experience a continuous sharp drop during the trading suspension period, there will be a compensatory growth process after the resumption of trading, no matter whether it is good or bad.
On the contrary, if there is a continuous sharp decline in the market, even an absolute positive will affect the income or even make up for the decline.
The exception is demon stocks! But Dongfang Fortune is obviously not in the ranks of demon stocks.
The performance of Dongfang Fortune after the resumption of trading depends on the performance of the Shanghai and Shenzhen stock markets after yesterday's sharp drop. The longer the suspension, the greater the variables.
Wang Ruoyu also seemed to be infected by the boss's confidence and calmed down; however, there was really nothing to do today. As long as he wanted to, he didn't need to read the market.
"You don't have to envy me today, haha." Wang Ruoyu, who relaxed, said to Xu Jianqing and Liu Tingting.
The two of them rolled their eyes. Gu Junhao looked at Wang Ruoyu's strength and couldn't help but chuckle to himself. Yin Zhijie would most likely stop trading.
Then let’s see how you deal with the crazy talk of a lot of hot money.
At 9:25, the call auction ended, the Shanghai Composite Index opened at 2298.98 points, and the GEM Index opened at 1473.52 points.
"The mood at the opening is not bad." Gu Junhao said to the three of them. Dongfang Fortune has suspended trading today and everyone is relatively relaxed.
Among the three tradable positions, in addition to Wan'an Technology, which opened lower, Xibe Securities and Yinzhijie, two stocks that represent big finance and high-level corrections, all opened higher.
Tonghuashun also opened higher, at 23.36 yuan, and Yinzhijie opened at 23.10 yuan, up 0.87%.
Both individual stocks and indexes performed well at the beginning, and the sentiment did not seem to be affected by yesterday's sharp drop.
This is the performance of stocks in an upward trend. No matter whether the market plummets or not, there is no shortage of funds to try to buy the bottom and rebound.
On the contrary, during the decline, even if the stock has reached normal valuation, or even below normal valuation, there will not be too much buying.
A-shares are like this. When they rise, they can rise like crazy. When they fall, it doesn't matter what your valuation is. The normal valuation can cut you in half.
Dongfang Wealth has suspended trading, and Gu Junhao can only devote more energy to the index and Yin Zhijie today. As for Tonghuashun, a personal holding, in Gu Junhao's opinion, it is far from the time to buy the bottom.
When the formal trading began, the GEM index fluctuated and fell. Yinzhijie's performance was much faster than the GEM index. At 9:31, the stock price fell from 23.10 yuan to 22.88 yuan.
The stock price turned green instantly, but on the time-sharing trading chart, Yin Zhijie only traded 213 lots.
"Normal performance: The funds that bought the bottom yesterday want to take profits and flee after the market opens higher today. There are also some panic traders who are afraid of the fall and are also rushing to flee."
As long as the volume is not increased, it will be fine; if the big funds are not running away, there is no need to worry.
Whenever there is a high opening on the day after a big drop, most stocks will experience violent shocks in the morning. It is difficult to determine whether they can withstand the shocks.
This depends on the trading volume, which determines the trend of the stock price.
At 9:35, the decline in Yinzhijie's stock price expanded to more than 1%, and the stock price broke the 10-day line. At the same time, the growth rate of Yinzhijie also closed at around 0.2%.
The stock trends in the Shanghai and Shenzhen stock markets are all following a trend similar to that of Yin Zhijie, and the two cities are experiencing violent shock adjustments.
At 9:37, the GEM index turned green, with Yinzhijie trading at 22.45 yuan, a decline that expanded to 2%. Judging from the time-sharing trend chart, Yinzhijie's morning trend was the same as yesterday morning.
It seems that Yin Zhijie will have another big drop today, but judging from the trading volume in the morning, the shrinkage of Yin Zhijie during this period is extremely obvious.
In the trading market, there are rarely more than 100 lots of selling orders; on the contrary, there are not a few orders of more than 100 lots of buying.
At 9:40, the GEM index accelerated its decline, extending the decline to more than 0.5%. Five minutes later, the GEM index reported 1457.67 points, down 1.05%.
"The shock is very violent." Looking at the time-sharing chart of the GEM Index, Gu Junhao couldn't help but sigh.
In 15 minutes of trading, the ChiNext Index fell back by more than 1.5%. Under this violent shock of 1.5%, how many stocks experienced tragic corrections.
Just like Yin Zhijie, Yin Zhijie's stock price has dropped to 22.05 yuan at this moment, a drop of as much as 3.77%.
In the three trading days this week, Yinzhijie fell from the opening price of 25.70 yuan to the current price of 22.05 yuan, a drop of as much as 16.55%.
Investors who bought at this week's opening price suffered heavy losses in three trading days; the time-sharing chart is like a sharp weapon that pierces the hearts of those chasing highs.
Yin Zhijie, which resonates with the index, saw a significant increase in trading volume compared with the opening during this stage of rapid decline.
Within 5 minutes, Yin Zhijie's transaction volume reached 10 million yuan, and the selling orders were still mainly retail investors with less than 100 lots.
22.05 yuan is already close to the psychological price of the chasers. If it falls any further, it will enter the deep lock-in stage. The mentality is close to collapse, and the leeks can’t wait to cut their flesh and exit.
"It's almost over. The panic should be over temporarily." Gu Junhao said as he saw retail investors outflowing at a faster pace.
The GEM Index rebounded rapidly, and the lowest price of Yinzhijie this round was also fixed at 22 yuan. Retail investors who sold at 22.05 yuan may feel some psychological comfort when they see the price of 22 yuan.
However, this comforting mentality could not last long. Yinzhijie also slowed down the rebound of the index and quickly rebounded to 22.30 yuan at 9:50.
Seeing the rapid rebound of the index and stock price, the leeks who had just cut their meat looked extremely panicked at the moment, and rationally felt that they had cut it wrong.
Reason told me that I should buy it back, but reason could not defeat panic after all, and in the end I could only watch the stock price rise step by step.
Investors who sold at the lowest point probably felt this way.
"Is this going to rebound?"
Seeing that the GEM Index quickly rebounded to near the flat point and the decline narrowed to 0.3%, Xu Jianqing looked at Gu Junhao with excitement.
"It's not that fast. We just finished killing the first wave of panic disks. No matter what, we have to shake it a few more times." Gu Junhao said with a smile.
Large funds that can make large profits in the stock market, or even control a stock, are cold-blooded in trading.
Including Gu Junhao himself, this is the case. He is also merciless when it comes to smashing the market, and he doesn't care whether the market can absorb it or not.
With the ChiNext Index fluctuating within a wide range, how could the main funds let go of such a good opportunity?
After Yinzhijie rebounded to around 22.35 yuan, it began to fluctuate at a low level during the day, with the stock price maintaining a narrow range between 22.35 yuan and 22.26 yuan.
During the same period, the fluctuation range of the GEM Index was much wider. It only took 15 minutes for the index to rise from a decline of 0.6% to a red rise.
At 10:30, as the GEM index turned red for the third time in the day, Yinzhijie experienced a small-scale rise. The stock price rose from 22.26 yuan to 22.59 yuan, and the decline narrowed to 1.35%.
"It looks like I won't be able to wash anymore today, and I'm almost done with washing." Gu Junhao continued to explain in real time.
Above the trading market, sell orders for 100 shares began to appear continuously, which was also a signal that Yin Zhijie had bottomed out. Such a phenomenon had occurred in the bottom area of Yin Zhijie before.
When the time came to eleven o'clock, after the ChiNext Index reached its highest level of 1478.68 points, within half an hour, the ChiNext Index, which briefly peaked, resumed its downward oscillation mode.
In this half hour, Yinzhijie's stock price performance was much stronger than in the early trading. The stock price remained fluctuating in the range of 22.50 yuan, and the decline was not as fast as in the early trading.
Yin Zhijie seems to have returned to the period when the index was inverse, with the trend running counter to the index.
At midday closing, Yinzhijie closed at 22.62 yuan, a decrease of 1.22%. The GEM index returned to its high level and closed at 1464.20 points, a decrease of 0.61%.
The integer price of 22 yuan was Yinzhijie's lowest price in the morning. No matter how volatile it was, Yinzhijie's stock price never returned to this position.
This also makes ordinary investors who sold near the morning low of 22.05 yuan regret it. They can only hope that the high diving of the GEM index can bring back the heroes again.
"It seems that Yin Zhijie has almost done the washing up." After the market closed, Gu Junhao said to Xu Jianqing. In this round of washing up, Gu Junhao almost did not participate in the transaction.
The position of 11,000 lots has withstood a large retracement, but judging from the fact that Yin Zhijie washed the market along the 10-day line this morning and then pulled up.
Yin Zhijie should be almost done with it. If it can regain the 10-day line price today, it will be considered a success for Gu Junhao.
Except for the period of rapid decline in the morning when Yin Zhijie had a small increase in volume, during the rest of the period of shock adjustment, the trading volume was very sparse.
During the pull-up, Yin Zhijie slowly released its volume energy. As long as the trading volume in the morning is maintained in the afternoon, Yin Zhijie's trend will not be too ugly.
Trading continued in the afternoon, and the GEM index maintained a volatile downward trend. Yinzhijie also ushered in an adjustment during this period.
However, Yinzhijie, which is undergoing adjustment, is still much stronger than the index. Since the rise at 10:35 am, Yinzhijie has never fallen below the daily moving average.
In the afternoon adjustment, when the index reached its lowest level of 1456.50, setting a new intraday low, Yinzhijie still failed to fall below the intraday average price of 22.40 yuan.
At 13:19, when the GEM index hit a new intraday low, Yinzhijie slowly began to rise, and its stock price slowly began to rise from the price of 22.40 yuan.
At 13:30, Yinzhijie reported 22.70 yuan, and the trading volume began to gradually increase; at this time, the GEM Index also had a tendency to bottom out during the day.
The adjustment during the day may end here; at 13:40, after 20 minutes of slow rise, Yinzhijie turned red again during the day, trading at 22.94 yuan.
Not only Yinzhijie, but also a large number of small and medium-sized startup stocks in the Shanghai and Shenzhen stock exchanges also rebounded during this period, and there are countless stocks that turned red.
Gu Junhao's Tonghuashun also performed quite well today. Although it opened slightly higher throughout the day, the stock price has always remained in the red position.
During the two major retests of the GEM Index, Tonghuashun never fell below the opening price, and its performance was far better than that of many stocks.
However, Tonghuashun's trading volume has shrunk significantly today. According to Gu Junhao's estimate, it should not exceed 80 million yuan.
"Instead of shrinking and rising, it is more practical to have a wide intraday fluctuation like Yin Zhijie." This was Gu Junhao's evaluation when Xu Jianqing asked Gu Junhao if he wanted to buy Tonghuashun at the bottom.
Yin Zhijie, which fluctuated upward, turned red again at 14:22 after a slight green turn, with trading volume remaining at normal levels.
Two minutes later, Yinzhijie quoted 23.05 yuan, refreshing the opening price.
At 14:30, the Shanghai and Shenzhen stock markets, which were extremely volatile throughout the day, ushered in a miracle moment. The Shanghai Composite Index took the lead in turning red, followed closely by the GEM Index.
Yinzhijie, the top stock in Junshi No. 1, ushered in the highlight moment of the whole day at this moment. The stock price was reported at 23.22 yuan, up 1.40%.
The two markets turned red and entered a late-day rally. Yinzhijie's stock price continued to rise. At the end of the day, Yinzhijie closed at 23.75 yuan, a sharp increase of 3.71%.
Yinzhijie, which had an amplitude of nearly 8% throughout the day, closed a very long downward shadow bald positive trend on the K line, just like the GEM index.
The overall gains in the Shanghai and Shenzhen stock markets today were not too large. The Shanghai Composite Index rose 0.49% to close at 2307.89, and the GEM Index rose 0.41% to close at 1479.02 points.
However, the two markets that shrank and rose throughout the day were extremely volatile today, and the washout in the bull market was far more severe than in the bear market.
Both cities closed with a long downward trend and a positive trend, which seems to indicate that this round of adjustment is about to end. The stocks of Xibe Securities and Wan'an Technology also ended with gains today.
The Shanghai and Shenzhen stock markets and most individual stocks all turned red, causing great harm to investors who cut their profits in the morning.
Among them, Yin Zhijie's performance was even more impressive. Yin Zhijie's announcement in the evening dealt a fatal blow to investors who had cut their profits in early trading today.
Yinzhijie announced on the evening of September 17 that the company received a notice from the China Securities Regulatory Commission on September 17, 2014. The members of the listed company's mergers and acquisitions and reorganization committee will hold a working meeting in the near future to review the company's issuance of shares to purchase assets.
Trading of the company's shares will be suspended from the opening of the market on September 18, 2014, and trading will resume after the company announces the review results.
"Damn it! The trading has been suspended and the sales have gone off."
"What the hell, the price of cutting meat is 22.10 yuan in the morning, which is at the lowest point."
"Gouzhuang is just waiting for the 200 shares in my hand. If he doesn't sell them, he won't buy them. I'll help him."
Yin Zhijie's suspension of trading brought great benefits, but brought endless pain to the cutters. In the absence of major changes in the market conditions of the two cities, today's selling is doomed; and for Gu Junhao, it is also a headache
things.
Calculated based on real-time prices, the holdings of Dongfang Fortune and Yinzhijie are as high as 48.5366 million yuan, accounting for 70% of the positions of Junshi No. 1.
The most worrying thing has happened. 70% of the positions have been suspended, and the market value and liquidity are almost locked. It is still quite a headache for a fund.
However, it may be luck, or it may be that the main funds of Dongfang Wealth urged the announcement of resumption of trading after seeing that the Shanghai and Shenzhen stock markets are expected to end adjustments. Perhaps the suspension of equity incentives is just a cover to avoid adjustments.
At midnight, in the dead of night, Dongfang Fortune quietly issued a trading resumption announcement. Dongfang Fortune's announcement was very simple: "Upon application, the company's stocks will resume trading from the opening of the market on September 18, 2014 (Thursday)."
In a simple sentence, Gu Junhao in his sleep did not know that his troublesome matter had been solved. Perhaps, somehow, the time traveler also had this luck.
Happy April and wish you all good luck with your investment