Chapter 115: Funds build positions, and the Shanghai Stock Exchange Index breaks through 2,000 point

The index jumped rapidly, and individual stocks saw active buying.

The Shanghai Stock Exchange Index hit its lowest point of 2008.31 and began to rebound rapidly; the ChiNext Index reached its lowest point of 999.82 and also began to bottom out and rebound, within a few minutes, it rose back to above 1005 points.

“When all the negative points are eliminated, it’s a good thing!”

While Su Yu, Li Meng, and Wang Can were staring at the market prices of the two markets intently, with their fingers hovering over the buy button of the mouse, someone in the main hot money group where Su Yu was located exclaimed: "The support is strong, buy The market is surging, and copycats have flooded in on a large scale. It seems that the market can hold on here."

"The index has been selling too hard this month and has been seriously oversold. Now it has opened lower and directly reached the support level. A large number of people are copying the market to take over. It's time to rebound."

"The Shanghai Stock Exchange Index is at 2,000 points and the Chuang Index is at 1,000 points. They are indeed strong support levels!"

"If it can hold up here, then the second foot of the market has landed, a perfect W bottom!"

"The volume in the first ten minutes of the opening is very healthy, and the volume has increased significantly. It seems that the market should have bottomed here, and it can rebound from oversold conditions."

"What about the main line? Which concept has better rebound prospects?"

"Depending on the situation, the GEM has the highest capital activity. The main board is affected by the bank's internal money shortage crisis. Both the intensity of fund acceptance and the intensity of rebound are relatively weak."

“The main concepts of GEM, the most promising and imaginative ones, should be ‘Internet finance’, ‘mobile games’, and ‘intelligent terminal devices’, right?”

"Damn it, Shanghai Steel Union, Fenda Technology, Huaqingbao, Wangsu Technology...these core concept stocks in the early stage are already rising rapidly, and the funds are moving so fast."

"Hua Qingbao became famous first..."

In the heated discussion among everyone.

At the moment when several stocks planned to open positions in Huaqingbao, Wangsu Technology, and Fenda Technology rose rapidly and became popular due to heavy volume, Li Mengxin was moved, and a strong desire to buy arose from the bottom of his heart. I couldn't help but ask Su Yu again: "The decline of the GEM index has shrunk to about 1%. At the same time, the time-sharing volume has been significantly enlarged compared to the previous trading days, and the intensity of the buying attack has also been strengthened compared to the previous trading days. Okay, does this count as holding on?"

"Patience!" Su Yu replied with a smile, "The risk is not in the GEM."

“Since mid-April, the overall growth rate of the ChiNext Index has exceeded that of the Shanghai Stock Exchange Index by a lot, but it is basically driven by hot money. The overall chip structure is also dominated by market hot money and retail investors. The main funds of institutions are on the ChiNext Board. There are not many layouts for individual stocks.”

"so……"

“When the money shortage crisis broke out within the financial system, institutions on the market passively reduced their positions and stepped on the stalls to withdraw funds.”

"The GEM index faces much less disk pressure and market pressure than the main board, and its flexibility is naturally more sufficient."

"When the market risk is not on the GEM."

"It is quite incorrect to use the rise and fall of the GEM to measure the market bottom."

"After all, even if the GEM can quickly become popular under the main attack of active funds in the market, it will temporarily restore some market investment sentiment."

“But when the institutional selling crisis on the main board cannot be resolved, and there are not enough funds to undertake this part of the selling.”

"Once the market copycats who rushed in in early trading are exhausted, and there is no hope of resolving the money shortage crisis in OTC banks, facing a steady stream of institutional selling, the current short-term rebound trend of the Shanghai Stock Index will be reversed in an instant. It’s time to accept the simultaneous exhaustion of strength and emotions.”

"The Shanghai Stock Exchange Index will once again pull on the rebounding ChiNext Index and continue to sink underwater."

"In the final analysis, as long as institutions continue to sell and trample on each other on blue-chip and white-horse stocks on the main board, the situation cannot be resolved. At least until there is no hope and opportunity for resolution, even if the index rebounds briefly, it will be difficult to truly bottom out."

And with the sound of his voice.

At 9:46, the GEM index returned to above 1015 points. Huaqingbao rose by more than 3%, with an amplitude of more than 7%. Shanghai Steel Union also quickly retreated from a minimum decline of 8 points to 3 points. The decline was around, and within less than 20 minutes of the opening, it rose by more than 5 points.

Moreover, with the crazy rise of these early popular core concept stocks.

More bargain-hunting funds and short-term active funds began to attack pan-'mobile Internet' concepts such as 'mobile games', 'Internet information', 'intelligent terminal equipment', and 'Internet finance', causing the GEM index to trade at 10 o'clock. It broke through the 1020 point mark and is just one step away from the previous day's closing point of 1025.51 points.

at the same time.

The decline in the Shanghai Stock Exchange Index was also driven by the influx of bargain-hunting funds, which withstood the continuous selling of institutional funds and reduced the decline to less than 1%.

I saw indexes and individual stocks turning strongly upward at important support levels.

It made up for the gap in the early trading.

Instead of buying the bottom immediately in the early trading, many hot money and retail investors who hesitated began to further follow the trend and join the bargain hunting army.

"The negative news is gone, bottoming out, haha... the index will definitely turn red today."

As the index rebounded strongly in half an hour of early trading, opening low and moving high, the originally silent atmosphere in the retail investor group of Su Yu's classmates suddenly became lively again, with daily chatter in the group. Huang Luolin, who loves to show off, excitedly called on everyone to buy the bottom: "I didn't say anything, join Hua Qingbao, the check rebounded so sharply today, it must be the market leader today."

After saying that, he posted his actual purchase record, and he looked particularly excited.

And under his direct inspiration...

Other people in the group have also joined the bargain-hunting army. What's more, those who were trapped in the continuous decline of the market are now complaining and covering their positions.

Under the combined force of these forces.

At 10:15, the ChiNext Index turned red first, completely covering the short jump in early trading, and once again proved to market investors that the 1,000-point mark was solid.

The Shanghai Composite Index is driven by market sentiment driven by the rise of the GEM and a large amount of bargain-hunting funds.

The decline also shrank to less than 0.5%.

But just when everyone is very excited and thinks that the market has exhausted all its shortcomings, an oversold rebound is a foregone conclusion, and the Shanghai Stock Exchange Index will inevitably turn red in the future.

The market suddenly increased its volume further.

The two major blue-chip and white-horse sectors, 'Big Finance' and 'Big Consumption', which are the core of the main board, suddenly showed signs of huge losses.

10,000 hands, 20,000 hands, 50,000 hands, 100,000 hands...

Endless huge orders emerge from these large stocks, desperately devouring the entire market's copycat power.

At 10:21, only 6 minutes had passed since the GEM index turned red.

Baima stocks with very heavy institutional holdings, Gree Electric Appliances, experienced a flash crash, followed by the always weak liquor and beverage sector, Qianzhou Moutai, Luzhou Laojiao, Wuliangye and other core stocks also experienced flash crashes, as shown in the time-sharing chart. Within minutes, it completely submerged the rebound that lasted nearly an hour at the beginning of the session.

And with the selling of many white horses increasing sharply.

The 'big financial' sector, which had the largest overall decline, was also weak again, falling rapidly, and its volume increased simultaneously.

"What...what's going on?"

In the retail investor group of Su Yu's classmates, Huang Luolin, who had just been excited to buy the bottom, saw that the Shanghai stock index suddenly fell due to heavy volume in the 'big financial' sectors such as banking, securities, and insurance, as well as the 'big consumer' sectors such as food and beverages, and white goods. , turned around in an instant, and was stunned for a moment.

"The GEM has turned green, hey..."

"Hua Qingbao also turned around and retreated after it surged higher."

"The Tianyu Information I just bought retraced 2 points in an instant. It seems that it is going back to the opening. What's going on? Why did it go up so well and then suddenly turn around."

Others in the group saw that the index seemed to have suddenly lost its soul and retreated crazily.

For a moment, he was also confused.

"Damn it, you're diving in a straight line, what are you doing? Going high to lure more?"

"How about this? I managed to find a bargain, but I got sucked in again. Alas...it's hopeless. You really shouldn't have any illusions about this market."

"It's so fast. In less than 10 minutes, the GEM index has shrunk back to the 1010-point range."

"The Shanghai Stock Index has fallen by more than 2% again, which is really weak."

"Who is selling? The index has been falling for a month, and it has reached the 2,000 point mark. There is not even a weak rebound. Is there anyone left alive?"

As the index plunged rapidly, the atmosphere in the group also changed, becoming complaining and irritable again.

Of course, in addition to the retail investors in the group, Su Yu's main hot money group rushed in to buy the bottom in the early trading, doing a lot of hot money in the oversold rebound market.

At this moment, facing the sudden plunge of the index, I was temporarily trapped.

"Hey... the ChiNext Index opened low and moved high to rebound. It was dragged down by the Shanghai Index. I was speechless."

Some people in Su Yu's main hot money group complained helplessly.

"Are these two core institutional shareholding sectors, 'Big Finance' and 'Big Consumption', crazy today? Such a mindless sell-off!"

"It's not that these institutions are crazy, it's that as the market's money shortage crisis spreads, institutions hold individual stocks and enter a stampede mode. No one wants to smash the market at 2,000 points, but in order to withdraw cash and support the main financial institutions, they have to smash it. "

"Hey, just for this reason, I avoided blue chips and white horses in the early trading. Unexpectedly... it turned out that it was so overwhelming that it was difficult to complete the eggs!"

“It seems that today’s bargain hunting was a mistake again!”

"I haven't done anything right this month. I've been cutting meat almost every day. Hey... people are crazy."

"Indices and individual stocks have retraced very quickly. Look at this situation... After so many bottom-hunting funds were buried in the early trading, the mood has collapsed again!"

"The GEM index has plummeted into the 1010 range. Can it still hold the 1000 point?"

"Look at the Shanghai Stock Exchange Index, the ChiNext Index is invalid."

"This group of institutions are like pigs. They really have to rely on their own efforts to bring down the market and directly break through the last support line of the market!"

"It's over. It's chasing Huaqingbao higher. If the GEM index can't hold 1,000 points, I'm afraid I'll have to cut a big piece of meat tomorrow."

"Look at the Shanghai Stock Exchange Index. If the Shanghai Stock Exchange Index cannot hold 2,000 points, and the ChiNext Index is 1,000 points, it will definitely not be able to hold it either."

"Don't just stare at the field..."

"It still depends on whether the money shortage crisis outside the market can be alleviated."

"The interbank interest rate has soared to more than 30%. The central bank should take action, right? There should be a time window at noon today."

"Hey, where is Brother Su? I haven't seen Brother Su come out to talk for a long time recently."

"Without Brother Su's seat, the market seems to have no backbone. In addition to falling, it will still fall. It's simply!"

"Since the last time Brother Su cleared the Shanghai Stock Exchange and said he wanted to take a break, the market has fallen into a series of sharp declines. Alas... Brother Su's judgment is really amazing."

Gu Zhan

"If I had known earlier, I wouldn't have speculated on my own. It would have been better to just buy shares of the fund issued by Brother Su."

"No chance now..."

When the market rebound seriously fell short of expectations, institutions suddenly increased their efforts to smash the market, funds were suddenly cut off, and the index retreated across the board, everyone in the crowd was @Su Yu.

‘Yuhang Investment’ trading room.

Li Meng and Wang Can looked at the market trends of the two cities and found that they were almost exactly the same as what Su Yu predicted. For a moment, they couldn't help being shocked and surprised.

"As soon as the power of copying the market was exhausted and the power of institutional selling increased, as expected, the entire market's ability to undertake the market collapsed." Li Meng stared closely at the changes in the market conditions of the two cities and continued to ask Su Yu, "The GEM It means being dragged down by the Shanghai Stock Exchange Index, the 1,000 point level cannot be maintained, right?"

Do it all at once, second time tired, third time exhausted.

At the beginning of the market, the funds for buying the bottom of the market have already been consumed, and it failed to withstand the selling on the market, which led to more bottom buying sentiment and the effect of making money.

The index fell back to the 1,000-point mark for the second time, and the support will be greatly reduced.

"It's still the same sentence." Su Yu said, "With the over-the-counter interbank lending rate remaining high and the money shortage in the market becoming more and more severe, institutions are stepping on each other's exits, and the current situation of withdrawing cash flow cannot be solved. The market It’s hard to get real support and bottom.”

"Under the desperate efforts of the vast number of institutions, which are the absolute main force in the market, to smash the market."

"The market investment sentiment has disappeared. The amount of funds on the market and short-term speculative funds alone cannot hold the historical mark of 2,000 points for the Shanghai Composite Index."

"As soon as the Shanghai Stock Exchange Index broke through the 2,000-point mark..."

"The bulls' last psychological defense line has been broken down, and a huge amount of panic will naturally come out. When the GEM index reaches the 1,000-point support, it will be even more like paper."

"If you can't hold on to 2000 points..." Wang Can was shocked when he heard Su Yu's words and couldn't help but answer, "Then it will be an abyss going down."

According to the historical trend in 2008.

Once 2000 points are completely broken down and market investment sentiment completely collapses, the bottom will really be invisible. Thinking pessimistically, if it falls below 2000 points, it is not impossible to reach 1700 points or 1600 points in one go based on inertia.

“Let’s see how the central bank reacts!”

Su Yu paused and said: "As long as there is news from the sidelines, or we can see the opportunity for a reversal of the money shortage crisis, institutions trampling on each other, and being forced to reduce positions and withdraw cash, then we can enter the market on a large scale. Fight for these bloody chips and build a full position."

"Of course, if the Shanghai Stock Exchange Index breaks through 2,000 points today, the decline will rapidly expand to more than 5%."

"You can also enter."

"Why?" Li Meng asked, "Shouldn't we hold on to the market and wait and see if it collapses?"

Su Yu smiled and said: "On the contrary, if the Shanghai Stock Index stubbornly stays sideways at 2000 points today and fails to completely break through the 2000 point mark, that is to say, the market does not have a complete emotional collapse and everyone is completely desperate, then ...It proves that financial system risks are still controllable.”

"The central bank's current goal is to teach the many domestic financial institutions that operate aggressively a lesson during the money shortage crisis, and at the same time tighten liquidity and suppress inflation."

"If financial system risks can be controlled..."

"Then does the central bank still need to rush to stabilize the market? No need!"

"Therefore, only when the market completely breaks through all supports and shows signs of total collapse and liquidity exhaustion can the central bank be forced to quickly release a certain amount of liquidity to stabilize the market."

"Only in this way will the wind we are waiting for come."

“Moreover, in times of despair, panic, and fear, only by raising a huge amount of blood chips can the chip structure on the market be changed to the greatest extent, only then can there be an oversold rebound with a huge profit-making effect, and only then can it be possible to use weak funds to leverage Move the market and create the motivation and motivation to continue the market.”

"If you don't destroy it, you won't establish it..."

"The Shanghai Stock Exchange Index must break through 2,000 points in order for the market situation to undergo a fundamental change."

"This is the bottom, but it's also the darkest time before dawn."

As Su Yu spoke, the time passed 11 o'clock, and the Shanghai Stock Exchange Index retraced sharply under the sharp dive of many core weight sectors of 'Big Finance', 'Big Consumption' and the subsequent 'Medicine', 'Infrastructure' and 'Real Estate'. The decline crossed the opening horizontal line and reached more than 3%. The index point fell to within 2010 points. It is really only a layer of paper away from the important integer mark of 2000 points.

At this time, the GEM index also reached the 1,000-point mark again.

And all the popular concept sectors that had rebounded before were completely wiped out. Hua Qingbao, Fenda Technology, Wangsu Technology, Shanghai Steel Union, LeTV... many core concept stocks almost all came out of the A-shaped form, among which Shanghai Steel The stock price broke through the market and reached the lower limit of 13.70 yuan, which is in sharp contrast to the strong trend at the beginning of the month.

In the situation where Shanghai Steel Union hit the limit and then was completely blocked.

Other core concept stocks have plunged again.

Finally, at 11:16, another popular stock in the Internet financial concept sector, Tianyu Information, also hit the limit, which directly completely destroyed the entire GEM sentiment, causing the GEM index to trade sideways at 1,000 points for nearly 15 minutes. It broke through 1,000 points, extending the decline to more than 3%. Within a few minutes, it hit the lowest level of 991 points.

And as the GEM index broke through 1,000 points.

In the last three minutes of the noon closing, the Shanghai Stock Exchange Index once again ushered in another wave of rapid diving, hitting the 2,000-point mark. The time-sharing trading volume increased to more than 5 times the previous average trading volume per minute.

2003, 2002, 2001…

In the extremely explosive trading volume, the hearts of investors in the entire market were raised to their throats at that moment.

The Shanghai Stock Index finally settled at 2000.63, ushering in the lunch break, which also retained the last glimmer of hope for countless investors in the market to defend the 2000-point mark.

At noon, the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index and ChiNext Index all plunged by nearly 4%.

Facing the entire market, A kills the trend across the board.

All investors, regardless of retail investors, hot money, or institutions, are wailing.

Because this is not just a one-day plunge, but a full-scale plunge after the market index has fallen by nearly 12% for more than half a month. Market investment sentiment has been suppressed to the limit.

This plummeting trend.

It was like the straw that broke the camel's back.

The destructive effect on investment sentiment in the market and the destructive effect on investor confidence in the entire market is extremely huge.

Of course, amidst this wail, despair, and grief, some people still hold on to the last glimmer of hope, hoping that during the lunch break, the China Securities Regulatory Commission and even the central bank, as market regulatory authorities, can see a complete market collapse and complete loss. In case of liquidity crisis, clear benefits will be released in a timely manner to rescue the market.

After all, this is 2000 points, which is the last bullish barrier in the minds of countless investors in the entire market.

pity……

Throughout lunch, there is a half-hour break.

In the entire domestic financial market, except for the increasingly severe market money shortage crisis, except for the high interbank interest rate that has far exceeded the risk level and the struggling banking institutions that are raising money everywhere, there is no clear positive news. Regardless of the China Securities Regulatory Commission Both the central bank and the central bank remained calm as always.

So, under this gap.

As soon as the two markets opened for trading at 1 p.m., investors on the market sold out in despair.

At 1:01, the Shanghai Stock Index was fixed at 2000.63 points at noon, that is, it flashed below the 2000 point mark. After almost 5 years, it returned to the prefix 1 again, setting a new market low since 2008.

At 1:05, the Shanghai Stock Index continued to fall below the 1990 mark, and the decline expanded to more than 4.5%.

At 1:07, the Shanghai Stock Index broke through the 1980 point, and the decline expanded to about 5%.

Similarly, at this moment, the ChiNext Index also fell rapidly, falling to around 980 points due to heavy volume, and the decline was close to 5 points.

Faced with such a decline and such a situation.

Panic and despair completely enveloped the entire market.

As long as there are still liquid stocks, funds on the market are flowing out crazily, and their stock prices are also moving in one direction, which is a straight downward limit.

At 1:12, the heavyweight stock Huatong Securities fell by the limit, and many financial heavyweight stocks such as China Commercial Bank, Huaguo Bank, Huajian Bank... all fell by about 7%, breaking out in huge amounts.

At 1:18, the Shanghai Stock Exchange Index broke through the 1965 point, a drop of 6%, and the ChiNext Index broke through the 970 point, a drop of 6%. The number of stocks in the two cities increased rapidly, reaching 100, and as As time goes by, it is still increasing at a rate visible to the naked eye.

At 1:25, the turnover of the two cities exceeded 50 billion, setting a record for the year, and panic broke out.

At 1:32, Hua Qingbao, which had performed well in the early trading on the GEM, also hit the lower limit, with an amplitude of more than 15% throughout the day, burying countless retail investors and hot money chasing the rise and bargain hunting in the early trading.

At 1:42, the number of stocks in the two cities exceeded 200. The core leading brokerage firm, CEFC Securities, hit the lower limit.

At 1:47, the six target stocks for building positions planned by Su Yu and Li Meng, including Fenda Technology, Wangsu Technology, Huaqingbao, LeTV, Oriental Fortune, and Flush, were all pushed to the limit. The three major stocks were all hit by the lower limit. The index fell by more than 7%, and liquidity in the two cities declined rapidly.

At 1:52, the core weights of Huaguo Petroleum, Huaguo Petrochemical, Huaguo Construction, Yangtze Electric Power, etc. changed and quickly pulled up for a period of time, saving the index from sliding into the abyss and seemed to be heading towards the limit. At this point, one after another reached the limit. The major indexes, which fell 7%, ushered in the last wave of bargain-hunting funds in the market.

Also at this time...

Su Yu issued a buying order to Li Meng and Wang Can: "Build a 20-30% position first. The risk of market liquidity depletion has been fully exposed. The entire market has fallen to this point, and investment sentiment has completely collapsed. It’s time for the national team and regulators to step in strongly to stabilize the market.”

"I estimate that it will be after the market closes at the earliest and tomorrow at the latest..."

"The central bank and the China Securities Regulatory Commission will definitely have substantial positive actions coming out."

“This should be the real bottom where the market breaks out in despair.

As he said that, he himself began to use the fund capital account and personal capital account in his hand to sweep through the price limit on a large scale, buying up the blood chips that the majority of investors gave up in despair.

Li Meng and Wang Can responded.

Then, based on the established target stocks for building positions, I scanned orders to buy on Huaqingbao, Fenda Technology, Wangsu Technology, LeTV, Flush, and Oriental Fortune.

Then, under the joint action of the national team and bargain hunting funds.

After 2 o'clock, the depleted liquidity situation in the entire market eased slightly, and major indexes and individual stocks experienced a short-term rebound in late trading.

Finally, it closes at three o'clock.

The Shanghai Stock Exchange Index fell at 5.31%, closing at 1963.24 points, a drop of more than 100 points, completely breaking through the last support of the bulls at 2000 points; the ChiNext Index fell by 5.27%, closing at 971.45 points, and completely breaking through. The early support position is 1000 points.

As for sectors and individual stocks...

The banking and securities sectors plummeted, with the sector's decline reaching about 6.5%. Among them, Huaxin Securities' final decline reached 9.1%, and the weight of the four major banks including China Commercial Bank, Huaguo Bank, Huanong Bank, and Huajian Bank also fell by an average of 7%. , it can be described as tragic.

Concept stocks and concept sectors.

Among the six stocks designated by Su Yu to open positions, except Flush and Oriental Fortune, which finally opened their lower limits, with a decline of about 8%, the other stocks all closed their lower limits.