Chapter 122 Bear Market Thinking

"Brother Su's move today is really bold, but... I like it!"

When Su Yu rarely spoke up in the group, a group member praised him greatly: "In the future, the market may have to list a concept sector for Brother Su, called the 'Fortune Road' investment concept sector."

"It should be the 'Yuhang Investment' concept sector!" Someone answered.

"You know what, it's totally possible!"

"Look at the popularity of the stocks held by Brother Su after the Dragon and Tiger List data came out. Shanghai Steel Union, Huaqingbao, Fenda Technology, Netspeed Technology, Oriental Fortune, LeTV... A lot of them have become the most discussed concept stocks in the market, especially the discussion of Shanghai Steel Union, which directly overwhelmed the news of the central bank's 500 billion market public operation, and directly topped the list of hot stocks in the two markets."

"Shanghai Steel Union is the first stock in the two markets today to reverse yesterday's limit down, plus Brother Su's seat bonus, it should be normal to have such popularity?"

"Looking at the popularity, will Shanghai Steel Union remain flat tomorrow?"

"I hope not. Shanghai Steel Union has accumulated a lot of profit-taking today. If it opens flat tomorrow, the profit-taking will accumulate further and it may not go far."

"Speaking of which, Brother Su, what is the logic of LeTV?"

"Other stocks are understandable, but LeTV... The development of film and television media has indeed entered the fast lane, but in the field of online video, the realization of traffic has always been a mystery. No one knows what the future path will be, and no one knows how to change the model to make a profit."

"It should be smart TV? People go The same route and logic as Fenda Technology. "

"Fuck, I really forgot about this. I have been thinking in the direction of online video and film and television media, and I didn't consider that Boss Jia has now begun to build an ecosystem and enter the field of smart TVs."

"LeTV has a lot of room for imagination, and it has the genes of a platform-type and ecological company!"

"For stocks that Brother Su likes, even if you don't understand the logic for the time being, they will definitely not be too bad."

"Are you a little blind now?"

"Hehe... Don't say it, from now on, I will resolutely follow Brother Su and be Brother Su's follower I'm a fan of Feng. After all, I found that I've been speculating and speculating, but in the end, it's better to follow Brother Feng Su to make money. "

"Fuck, what you said is really the case."

"Alas, I was also scared of losing money this month. Today, I followed Brother Su to buy at the bottom. It's the first time I've eaten meat this month. It's really miserable."

"It's a pity that I didn't participate in Brother Su's private placement in the past two days."

"Qian is finally relieved, right? Now I don't see Mr. Qian anymore."

"With Brother Su helping him make money, of course he is relieved. I also want to be like Mr. Qian. By the way, when will Brother Su's next private equity fund be launched!"

During the discussion, everyone x-on:Su Yu, and they all wanted to know the fundraising and sales time of his next fund.

Before the plunge in the past two days, in fact, everyone didn't have any persistent ideas about subscribing to the private equity products raised and issued by Su Yu, but at this moment... After everyone saw the cruelty of the market and saw Su Yu's judgment and operation that made everyone's scalp numb, in addition to admiration, this idea in their hearts became stronger and stronger.

Of course, this psychological change...

It also stems from the fact that everyone thought that there was not much difference between their trading level and Su Yu's cognitive level.

But now, after the market's brutal blow and Su Yu's amazing judgment and operation, everyone has realized the gap between themselves and each other, and naturally has this psychological change.

"Before the first product doubled, the company had no idea of ​​issuing a new fund." Su Yu replied in unison to everyone's inquiries, "Of course, I am very grateful that everyone can trust me, and at the same time, given everyone's good intentions, if the company has the idea of ​​issuing a new product, I will definitely tell everyone as soon as possible."

After that, Su Yu continued to discuss and heatedly discuss.

Then, he left the group chat.

Then, he took a look at the messages in the classmate group, picked a few private messages from classmates who had a good relationship with him before, and then turned his eyes away from the computer screen.

Seeing that the time was approaching six o'clock in the afternoon.

Su Yu first checked Wang Can's closing review records, pointed out some directions and points of attention to him, and then held a short company meeting and went off work.

After returning home, he had dinner and washed up.

Su Yu turned on the computer again, looked at the trend of the foreign market, sorted out his thoughts, and pondered for a while about which line the subsequent market should follow, and then went to bed.

The next day, June 26, Wednesday.

When he came to the company, it was already past 9 o'clock.

The foreign market trend was good last night, and the three major US stock indexes closed higher. There was no bad news in the international market. After a large-scale release of money by the central bank, the interbank lending rate and overnight repurchase rate in China also returned to normal, from the abnormal level of more than 30% to about 3%. The money shortage crisis was completely resolved; so the overall investment sentiment of the market was very enthusiastic before the market opened, which was many times stronger than yesterday.

"It's really like ice and fire!"

After preparing for the opening, Li Meng looked through the discussion heat and various hot topics in major online trading forums and communities, and sighed: "Compared with yesterday, it seems like a lifetime ago."

Su Yu heard this and laughed: "In the face of an uncertain market, the majority of investors, including hot money and institutions, are actually fish."

"Fish?" Li Meng wondered, not knowing why.

"Yes." Su Yu nodded and continued with a smile, "Of course it's a fish, because fish only have a memory of 5 seconds."

Li Meng thought about it and felt that there was some truth in it. He couldn't help but smile and said: "It's true, as long as there is a profit-making effect, everyone will naturally forget about the previous plunge."

"Yes." Su Yu said, "In secondary market transactions, there is no belief that can't be changed by one big positive line. If not, then two big positive lines, three big positive lines... When the market's profit-making effect continues to accumulate , when the market continues to gather, no matter how stubborn the short seller is, he will not be able to help but enter the market and become a new bull.”

"This is the charm of the market!" Li Meng replied.

Su Yu was silent for a moment and responded: "It's not only its charm, but also its cruelty. The greed and fear of human nature are always vividly displayed in the continuous interpretation of K-line."

"So... you can't chase the K-line." Li Meng said thoughtfully, "You have to look at the emotions through the K-line and see the original fundamentals of the market."

"That's right." Su Yu nodded, "Whether it's individual stocks or the market, as long as the underlying macro fundamentals are good, then the impact of panic will be temporary, and...if we can see clearly The general direction and market panic will be the source of excess profits. After all, under the influence of emotions, market valuations will also lose their rationality, and the rise will be too high, and the fall will be too low. "

While the two were communicating, 9:15 arrived and the collective bidding in the two cities began.

Su Yu focused his attention on the market and saw that thanks to the strong market investment sentiment, more than 90% of the stocks had opened higher, and the willingness of various parties to raise funds was not small.

As for his self-selected stock pool and core holdings.

Tianyu Information opened about 3% higher, and stocks such as Internet Speed ​​Technology, Fenda Technology, Flush, Oriental Fortune, and LeTV also opened higher by about the same amount as Tianyu Information.

The only exceptions are Huaqingbao and Shanghai Steel Union, the two most popular stocks in the market.

Hua Qingbao opened nearly 7 points higher, with the stock price at 33.09 yuan, recovering a large amount of lost ground in the early stage; Shanghai Steel Union opened directly at the daily limit, with the stock price at 16.58 yuan, and the bidding limit was closed. The initial trading volume exceeded 5,000 lots.

“The call auction sentiment in the market is very strong!”

Li Meng was very excited when he saw that more than 90% of the stocks in the two cities opened higher: "It seems that the index is going to jump upward today. Will there be an island-shaped reversal?"

"It's impossible!" Su Yu said, "You have to eat the food one bite at a time, and the benefits have to be digested bit by bit. The transition between the bear and the bull stages is a subtle process, and it is far less rapid than the transition between the bull and the bear. After all, everything is possible. , It is always a hundred times more difficult to build than to destroy. Although market confidence has been restored after yesterday’s violent rebound, it is still a stock game after all, and it is not easy for large-scale external investors to enter the market.”

"What's more, after the central bank's liquidity is released, funds must be fed back to the stock market."

"It will take at least a month, several months, or even more than half a year to see real results."

"besides……"

"Yesterday, the amplitude of many stocks was more than 10%."

"That is to say, the many funds that bought the bottom yesterday have already made a lot of profits at this moment. For many people, there is a very large demand to take profits."

"In addition, more than 95% of investors in the current market still have a bear market mentality."

"If you feel you can make a little money, you must not be greedy, otherwise you will continue to be trapped. After all, this set of operations has been continuously performed in the past four or five years. As long as investors are still active in the market, this set of operating methods should have been deeply rooted in It’s in their minds.”

"So, in this situation, the vast majority of active investors are thinking in a bear market."

"It is simply unrealistic for the index to reverse quickly and rise continuously."

"Then you mean..." Li Meng paused and said, "Today's index is likely to open high and go low, and there is no obvious market trend?"

Su Yu nodded and said, "This is inevitable."

As he said that, Su Yu looked at the market again and saw that the daily limit of Shanghai Steel Union was increasing, while Hua Qingbao, Tianyu Information, Fenda Technology, Internet Speed ​​Technology... many stocks were rising slowly. Pulling back, the power of selling is clearly increasing as time goes on.

Immediately afterwards, at 9:20, the two cities entered the real collective bidding stage where orders cannot be canceled.

Shanghai Steel Union still sealed the daily limit. Although the daily limit orders were slightly lifted, they still remained above 8,000 lots and were still strong. At this time, Hua Qingbao’s increase had fallen back to about 4%, with more than 2,000 call auction orders. hands, and selling remains dominant.

At 9:21, Shanghai Steel Union's daily limit exceeded 10,000 lots, and Hua Qingbao's gains shrank to only 3.5%.

At 9:22, the number of stocks that opened higher in the two cities has changed to about 75%. Huaqingbao's increase has shrunk to 3%. Tianyu Information, Fenda Technology, Wangsu Technology... and other stocks have seen their increases shrink. When it reaches less than 2%, the premium is significantly reduced compared to before 9:20.

At 9:23, the number of stocks that opened higher in the two cities further fell to about 68%. Hua Qingbao’s increase was just below 3%. The Shanghai Steel Union’s daily limit orders declined to around 8,700 lots. Within one minute, new More than 2,000 selling orders were placed.

At 9:24, the number of stocks that opened higher in the two markets fell again to around 63%. The daily limit orders of Shanghai Steel Union continued to decline to 7,600 lots, and the daily limit sell orders surged to around 5,200 lots.

The last 30 seconds before the end of the call auction.

The overall selling orders in the two markets increased further, and the funds for profit-taking on the high-opening stocks increased with the times.

Finally, when 9:25 arrived and the call auctions in the two markets ended, the number of high-opening stocks had fallen back to around 58% of the overall stocks in the two markets. The Shanghai Composite Index was qualified at 2017.47 points, only 0.23% higher, and the ChiNext Index was qualified at 1012.76 points, 0.64% higher, still stronger than the Shanghai Composite Index.

Among them, although the Shanghai Steel Union’s daily limit was closed, it had been reduced to around 1,900 lots at the last moment, and the daily limit selling exceeded 10,000 lots, but it still maintained a flat opening pattern; Huaqingbao finally opened 2.1% higher, and the stock price was fixed at 31.58 yuan; Tianyu Information opened 1.34% higher, Netspeed Technology opened 1.23% higher, and Fenda Technology opened 1.14% higher...

"This... This is lower than expected!"

Seeing such an opening result, Li Meng was a little surprised and sighed: "It seems that the Shanghai Index will have to test 2,000 points today?"

Su Yu nodded and said: "If you step on it more firmly, it should be more stable."

"In-market funds, Too anxious. "Li Meng looked at some popular stocks that had a sharp fluctuation and rebounded yesterday, and frowned, "It's really like what you said, the market thinking has been stuck in the bear market thinking, and it can't change. Even if the market sentiment is good, it is really too difficult to get out of the continuous rise. "

"Take it slowly!" Su Yu replied, "If you want to change the bear market thinking of the majority of investors in the market, you have to create a continuous money-making effect, so that the majority of investors feel that short-term speculation is not as good as long-term holding to make money, but... really when the thinking of the majority of investors in the market begins to change, the bull market has actually gone a long way. "

"Yeah!" Li Meng responded.

Seeing that the time has passed 9:30, he stopped talking and focused his eyes on the rapidly changing market of the two cities.

Although the fund's position has been initially completed.

But the intraday trading plan for the remaining 20% ​​of the overall position has just begun.

With the official start of trading, Su Yu's eyes, after a brief cruise, quickly fell on the market of Shanghai Steel Union, a popular core stock in the market.

I saw that this stock exploded in volume at the moment when the official trading began.

Several orders of 1,000 lots poured out in succession, breaking the already small daily limit orders. When the one-line board pattern was broken, the stock price fell rapidly. In one minute, it fell by nearly 4 points, reaching a 6.43% increase. At the same time, the transaction volume exceeded 25 million, and the trading was extremely active.

Su Yu saw the Shanghai Steel Union break the board, and saw its stock price fall in a flash, and continued to explode.

The whole person did not move at all.

Then, when the vast majority of investors in the entire market saw that the strong state of the market was far weaker than they expected, many investors who were still profitable began to sell.

And under this circumstance.

The Shanghai Index, Shenzhen Index, and ChiNext Index also fell back.

And when the time reached 9:42, the Shanghai Composite Index had only held above 2000 points for more than ten minutes before falling below 2000 points again, causing the originally stable and high-spirited market investment sentiment to quickly recede like the tide, and the crisis of a sharp drop reappeared!