Chapter 278 The Belief in the Bull Market Collapses!
"Okay!" Li Meng responded, and then quickly issued instructions to the traders.
Immediately afterwards, in less than half a minute, large selling orders with tens of millions or billions of funds were placed on the market of popular stocks in the concept field of "securities and venture capital".
I saw...
Huatong Securities' increase suddenly fell from 8.95% to 6.31%. Within one minute, the new transaction volume reached 126 million.
The price increase of Huaxin Securities also dropped from 7.31% to 5.11%. Within one minute, the new transaction volume also exceeded the 100 million yuan mark.
Huashang Securities, Luxin Venture Capital, Zhangjiang Hi-Tech, Tuozhong... and many other stocks.
Almost instantly, the price dropped by 3 points, and the real-time transaction interface exploded in volume.
At the same time, the Shanghai Stock Exchange Index, which was fully driven by "securities and venture capital", soared to an increase of more than 2%, reaching a maximum of 2477.77 points, and also experienced a rapid plunge. Within a minute or two, the increase shrank to less than 2%, and The time-sharing interface also shows the current situation of rapid amplification of capacity.
"Come again, who is throwing such a large amount?"
I saw the index diving rapidly from the high point, and in the field of "securities and venture capital", many popular stocks such as "Huaxin Securities, Huatong Securities, Huashang Securities, Zhangjiang Hi-Tech, Luxin Venture Capital, Tuozhong Shares" suddenly exploded in volume. Down, within Yanjing, Shenhua Fund, the 'Blue Chip Select' product fund manager Chang Li frowned and said speechlessly: "Such a good market sentiment, such a good market trend, such a concentrated market follow-up effect, how can Why can't we wait until the emotional catharsis is completed and the index forms a greater siphon effect around 2,500 points to create more abundant liquidity? They are all short-sighted guys!"
"With such concentrated selling, it seems...that a large institution has chosen to take profit and exit the market." Next to Chang Li, Lin Zhaoye, director of the Fund Management Office, added, "However, today's market sentiment is better than in previous trading days. The trading volume and follow-up effect of each stock are also extremely strong. As long as there is no consistent selling expectation, this market... may not be so easy to fall. "
"I'm not worried that this capital will bring down the market." Chang Li said, "I just feel that some institutions are really short-sighted."
"The market sentiment is so strong today..."
"And after yesterday's differentiation, the market sentiment quickly turned into a consensus. It is obvious that this is a sign that the market is going to fully rise."
"Coupled with the fact that the Shanghai Stock Exchange Index is currently away from 2,500 points, the increase distance is less than 2 points."
"At this point, when the market has formed general bull market expectations, there is a huge opportunity to overcome expectations. As long as the market does not encounter major negative attacks in a short period of time, it can be said... At this juncture, 2500 points will inevitably rise. Captured under the strong expectations of broad market investors.”
"And there may be major negative market consequences..."
"As far as we know, there is only one aspect of 'market IPO restart'. However, the resolution of the internal committee of regulators will not be held until Friday, which means that this news must be clear, and the time point will be at least after the close of trading on Friday. This is It gives the market ample room to develop.”
"And even if the message is clear."
"The 'Securities and Venture Capital' sector is also a good sector for the 'market IPO restart'. I really don't know...what is there to be afraid of?"
"The performance of each institution's main funds is different, and naturally the trading strategies are also different." Lin Zhaoye laughed and said, "We believe that the best time to take profits has not yet come, but others may not think so. There is no point in complaining. , let’s do what we should do first!”
"Keep an eye on stocks such as Orient Securities, Orient Venture Capital, and Shibei High-tech."
"As long as these stocks can remain stable and there is no large-scale profit-taking or eagerness to leave the market on the road to wealth, then it won't be a big problem."
In Lin Zhaoye's view, this round of "securities and venture capital" market prices is entirely supported by emotions.
As for the impact on market sentiment, the appearance of one or two large institutions is simply incomparable to the impact of Fortune Road's crash.
Chang Li nodded and replied: "The market for 'securities and venture capital' has risen so rapidly. Wealth Road's capital should not have grabbed many chips in this field. At the same time, the profit margin of his positions should be It’s not big. Based on his past operating style, I don’t think he would take profits out of his position in advance before he is emotionally exhausted.”
"Hopefully!" Lin Zhaoye said, "Although there is a high probability that this fund will not pursue many chips in the line of 'securities and venture capital', the buying and selling behavior of its seats has a profound impact on the sentiment of the majority of retail investors and hot money in the market. The impact is quite large. I hope he can continue to lock up positions and let the market's investment sentiment continue for a while. In this way... we can hand over an excellent report card at the end of the year. "
"Actually..." Chang Li paused. He was quite dissatisfied with Lin Zhaoye's high opinion of the market influence of Fortune Road's capital, and said, "Although Fortune Road's capital has a certain influence on market sentiment, , but in the face of market trends, it is still not worth mentioning.”
"The current market trend has already taken shape."
"'Securities and venture capital' have also become the market areas with the strongest continuous profit-making effect in the two cities."
"Even if Fortune Road crashes out of the market today, I estimate that this market trend will not stop until the news of 'market IPO restart' is completely clear."
"At least... the market high should be around 2500 points."
Lin Zhaoye noticed Chang Youli's mood change, smiled and said: "Old Chang, I am not saying that the funds of Fortune Road will definitely affect the market trend, but I think that we should not forget the potential market risks while pursuing the maximization of market profits."
"After all, this is not a real bull market..."
"We can't deceive ourselves in this false lie."
"The 'Securities, Venture Capital' line has risen by about 20% since this wave. In terms of individual stocks, stocks such as Oriental Securities, Oriental Venture, Zhejiang Oriental, Shibei Hi-Tech, and Zijiang Enterprise have risen by almost 50%."
"And the leading first-tier securities companies such as Huatong Securities and Huaxin Securities have also risen by about 30%."
"At this time, our expectations cannot be It is placed at a high level. We must pay attention to the risk of market correction. At the most appropriate time, we should stop when we are ahead!"
"Don't worry, Lao Lin." Chang Youli nodded slightly, "I have been watching the market and will not miss the opportunity. At least I think that even if the Shanghai Composite Index cannot really break through the 2,500-point barrier, it can be touched under such strong market expectations."
"And, you see..."
Chang Youli paused, pointed to the changing market conditions on the big screen in the trading room, smiled, and said: "The 'Securities, Venture Capital' sector, as well as the index trend, are now recovering after the previous wave of diving. It seems that... before the midday closing time, the Shanghai Composite Index and the 'Securities, Venture Capital' related concept sectors, and their core hot stocks, will be able to set new highs and regain lost ground."
"That's the best!"
Lin Zhaoye stared at the market changes on the big screen, responded, and stopped talking.
As the two continued to pay attention...
Sure enough, before the closing time of the noon trading, when the time passed 11:03, the "Securities, Venture Capital" sector index and the Shanghai Composite Index completely recovered the previous plunge and hit a new intraday high. The Shanghai Composite Index broke through 2481.23 points in one fell swoop, and it was less than 1 point away from the 2500 point mark.
"The index recovered so quickly!"
Seeing the Shanghai Composite Index hit a new intraday rebound high, at this moment, inside Yuhang and Yuhang Investment Company, in the trading room, Li Meng stared at such market changes and was a little surprised: "Mr. Su, we have reduced 1 billion funds in a row, but... it has not caused any impact on the market."
Su Yu nodded slightly and responded: "The siphon effect of the Shanghai Composite Index of 2500 points has begun to occur. At this moment... the active funds in the entire market are flowing into the securities companies on the main board and the entire "big finance" weight sector. Under this liquidity, our 1 billion Funds, it is normal that there is no big mark on the market. "
"Continue to reduce..."
Su Yu paused and continued: "Take advantage of the most abundant liquidity in the market in the field of 'big finance' to sell out of positions on a large scale to stop profits."
"If you miss this opportunity, wait until the market sentiment is slightly weakened."
"When everyone finds that the pressure point of 2500 points is not so easy to break through, then... the huge amount of funds in our hands will not be so easy to sell at a high level."
The company's two main funds have invested nearly 8 billion yuan in the line of 'securities and venture capital'.
Now, including profits, including the 1.7 billion chips that were reduced yesterday, and the 1 billion chips that have been reduced from this morning to now.
They still have about 7 billion chips left.
And such a huge amount of chips, in order to reduce to the overall 20% holding waterline mentioned by Su Yu, there are still about 4.6 billion chips, which need to be quickly reduced.
"Well!" Li Meng responded.
Without hesitation, he continued to direct traders to reduce their positions significantly, and sold against the various funds chasing the market.
At the same time...
Yuhang, inside Jingda Investment, in the trading room, Mu Yao, who had already cut most of his positions and freed up funds on the two main lines of "mobile Internet" and "smartphone industry chain", saw that many popular core stocks in the "securities and venture capital" sector were not afraid of adjustments at all, and the trend was extremely strong. He was afraid that if he did not take action, he would have to chase positions above 2500 points in the index.
So, without waiting for the index and the "securities and venture capital" related concept sectors, and their core concept stocks to pull back, he chased positions and bought in a big way.
"Fuck... still have to chase hot spots, chasing leaders to have a future!" Seeing that the positions he had just bought were quickly on the road to profitability and were making up for the losses in his account, Mu Yao finally breathed a sigh of relief and said to himself, "The outdated leader is worse than a dog, this is really true."
This wave of huge losses was caused by chasing the "outdated leader".
Therefore, he has a deep understanding of this wise saying that is popular among short-term investors, and at the same time... he will not make the same mistakes again.
And just when he was chasing positions in the "securities and venture capital" field, waiting for the Shanghai Composite Index to break through 2,500 points.
In the core trading room of the fund next to him.
Gu Chijiang and Lin Tingzong discussed and still tried their best to reduce their holdings of stocks related to the ‘mobile Internet’ and ‘smartphone industry chain’. They also basically did not buy any stocks in the ‘securities and venture capital’ fields, which were in full swing and undergoing a full-scale riot and breakthrough, and maintained a completely empty position in this field.
According to Lin Tingzong’s words…
That is, since the opportunity to build a position has been lost, there is no need to chase high prices when the bull market pattern has not been completely determined.
According to Lin Tingzong’s operation strategy.
In trading, since the first opportunity and the most suitable opportunity to build a position have been lost, we can only wait for a clear right-side investment opportunity. After all, only in this way… can the investment risk be minimized.
At the same time…
In Yanjing, inside Anlan Fund; in Shanghai, inside Zexi Investment; in Shenzhen, inside Xinniu Fund Company.
All fund managers and core traders, after roughly guessing the motivation of Fortune Road, have chosen to operate almost the same as Jingda Investment at this moment. When the majority of retail investors, hot money, and institutional groups followed suit and were optimistic about the Shanghai Composite Index breaking through 2500 points, they chose to retreat bravely!
Of course, Minghui Capital, which had been reminded by Su Yu long ago.
Xu Zhongji has now cleared all his funds and maintained an empty position.
However... facing the continuous breakthrough of the market, it is obvious that it will break through 2500 points. In fact, he is also worried. He is not sure whether it is right or wrong to clear his fund chips and completely give up the main line of "securities and venture capital". After all... based on Su Yu's reminder, he guessed the logic of the market IPO restart. He carefully inquired around and did not hear any definite news about this.
Moreover, what made him speculate even more...
was that Su Yu's Fortune Road seat had not appeared on the selling seats of the Dragon and Tiger List of the two cities on a large scale recently.
"Mr. Xu, the market has been really strong in the past two days!" Fund manager He Hong stared at the market changes, "The Shanghai Composite Index is approaching 2,500 points. Looking at this situation, there may be a long rise of 100 points today. We...cleared all positions and gave up the main line of "securities and venture capital". Is it wrong?"
Xu Zhongji moved his eyes away from the large screen showing the market, glanced at He Hong, and asked: "Do you think it's wrong?"
"No!" He Hong laughed awkwardly and said, "In fact, it is very correct for us to fully clear the line of "reorganization and shell borrowing". In the past few trading days, after we fully cleared the positions, the trend of the line of "reorganization and shell borrowing" can be described as terrible."
"Mr. Xu is still wise..."
"If we didn't fully clear the positions at that moment and exit at all costs."
"Now the net value of the fund has probably retreated by almost 15%, that is... it is a pity to miss the main line of "venture capital and securities". "
"Yes It's a pity, but there's nothing we can do about it. "Xu Zhongji sighed softly and said, "Who would have thought that the line of 'securities and venture capital' would be so unstoppable? Moreover... when we fully cleared the line of 'reorganization and backdoor listing', the line of 'securities and venture capital' had already exploded. At that time... we had lost the initiative and the advantage of building a position. "
"In the case of the logic of the bull market, without complete certainty..."
"Chasing highs in sectors such as 'securities and venture capital' does not conform to my operating logic after all."
"Alas, there is no such thing as the best of both worlds in the world. We can only admit that we missed this opportunity, otherwise... if we change the strategy plan at this time and chase highs, it may really be more harm than good."
"If the index really stands at 2,500 points this time, what should we do?" He Hong hesitated and continued to ask, "We can't continue to be short, right?"
Xu Zhongji pondered for a while and felt a little anxious.
To be honest, such a strong market trend was beyond his expectations.
Originally, he expected that he would miss out on the market after he went short, but he still felt a little uncomfortable when he really missed out on the market where the securities sector was in full turmoil and the index continued to hit new highs.
"Let's take one step and see!" Xu Zhongji thought for a while and said, "If there is a clear right-side investment opportunity in the market, proving that our investment strategy is wrong, then it is reasonable to adjust immediately. As for now... let's wait and see until the certainty comes out."
Although he felt that it was a pity to miss out on the market.
But deep in his heart, he still agreed with the basic logic of the bull market that Su Yu said when he was in Yanjing, and he always believed that the time for a full bull market in the market has not come.
Of course, at the same moment.
In the Magic City, inside Yinghui Fund, in the trading room, Liu Guanhai, a fund manager who held a completely opposite view from him, was very happy when he stared at the securities market that broke through with great momentum.
Since he turned from short to long, in two days, he has filled all fund positions in securities.
At this moment, the fund product "Yinghui No. 1" he managed was already fully invested in securities, and within two days, the fund's entire net value soared by 6%, which finally made him feel proud.
"Xiao Shao, do you still have doubts about the bull market now?"
Liu Guanhai smiled and looked at the trading team leader who had previously opposed his full pursuit of the bull market main line of "securities and venture capital", and asked.
Shao Xiaoyun replied: "I reserve my opinion, but for now... the manager is right!"
All trading ideas and logic ultimately need to be verified by the actual market trend, and will be reflected in profits and losses. Judging from the current actual market trend, Liu Guanhai’s trading strategy is right, and this real-time investment strategy also gives The company's fund products have brought greater profits.
But Shao Xiaoyun is still skeptical about whether the market can become a comprehensive bull market.
"Hey..." Liu Guanhai shook his head, "I have market analysis skills and trading talent, but sometimes my ideas are too conservative. If we don't catch up in time this time, we will completely miss the mark. If you want to enter the market again, the purchase cost will be much higher.”
"In trading, sometimes... the opportunity is just a split second."
"If you can't grasp it, you will have to pay a lot of cost space."
"Well, thank you manager for your guidance." Shao Xiaoyun nodded, quite agreeing with what Liu Guanhai said.
"Manager..." Shao Xiaoyun paused and then said, "Do you think you can make it past 2500 today?"
Liu Guanhai looked at the trading time and said: "Today's half-day trading volume, compared to yesterday, is still not much larger. I want to go directly, which is stressful, but even if I can't get through today, I can get through tomorrow. The index is here and has exceeded 2500 points. It should be It’s a sure thing, after all, everyone is looking forward to it.”
"Why do I think it's not that easy?" Shao Xiaoyun said, "The market plunge at around 10 o'clock today, although it looks like it has been resolved now, but that wave of chips was very violent and massive. It looks huge. Managers all know that market expectations have been formed. Everyone is looking forward to the Shanghai Stock Index breaking through the 2,500-point pressure mark and opening up new market space. Don’t you know this super main force? "
"I always feel that the main force of funds that smashed the market has a lot of background, and... it means something!"
"you say……"
Shao Xiaoyun pondered for a while and said: "Could it be Fortune Road's funds? If that wave of diving was caused by Fortune Road's damage, then the market would be in big trouble. After all...if the afternoon dragon and tiger list, Wealth Road has appeared on the selling list on a large scale. In the main line of 'securities and venture capital', it has been beating high for 4 or 5 consecutive trading days. Once all the huge profits are squeezed out, then The market sentiment reversed in an instant, and...this must be under the condition that the market cannot have any negative conditions. If any negative conditions happen to occur at this time, the situation will be even worse.”
"Are you thinking too much?" Liu Guanhai said, "The stocks of Oriental Securities, Oriental Entrepreneurship, Shibei High-tech and other stocks in the main warehouse of Fortune Road are still blocked on the daily limit board, and there is basically no amount of energy. This can be said to be a big problem on Fortune Road. Large-scale exit? And... don’t overestimate the impact of this capital on the market.”
"Look at the two core main lines of his fund's main portfolio, 'mobile Internet' and 'smartphone industry chain.'"
"How many people have you trapped in these days?"
"There is no such thing as an invincible myth in the market. This person... just stepped on the wind a few times."
"Let me see... this time, he didn't get many high-quality chips at all on the main line of 'securities and venture capital'. I remember that he didn't get many high-quality chips from Orient Securities, Orient Venture Capital, Shibei High-tech, etc." He still grabbed it at the daily limit, even if he later gained a lot of chips.”
"He doesn't have any cost advantage on this main line."
"Smashing the plate at this time? Isn't it just hitting him?"
"But the manager didn't think that after Congcailu eagerly exited the position on the two main lines of 'mobile Internet' and 'smartphone industry chain', so far... the market situation has changed from 'mobile Internet' and 'smartphone industry chain'. Has the GEM, which is dominated by 'Securities and Venture Capital', cut into the main line of 'securities and venture capital'? The main line has been so weak recently and has been completely abandoned by the main funds in the market, because the main positions of Fortune Road have long been gone from those two main lines. "
"I still remember Fortune Road's performance in the 'Shanghai Free Trade Zone'..."
"That's really a battle to become famous!"
"In my opinion, this is a fund that is very good at lurking. We cannot underestimate it, but we must also have an insight into its motives and traces on the market."
"Okay, I know it in my mind!" Liu Guanhai couldn't help but frown when he heard that the trading leader of his team actually praised an opponent like Fortune Road so highly. The joy he had just felt was obviously lowered. He waved his hand and said, "You should continue to reserve your opinion. Whether it is right or wrong, the market trend will verify it."
After saying that, he turned his attention back to the market prices displayed on the big screen in the trading room.
I saw...
At this moment, the Shanghai Stock Exchange Index has refreshed the intraday high to 2488.86 points, which is closer to 2500 points. As the securities sector that drives the index upward, the increase has also refreshed the intraday high, reaching the position of 7.01%, which is great for the entire sector. Comprehensively attack the daily limit and set off a trend of daily limit.
Even Huaxin Securities, Huatong Securities, and Huashang Securities are the market capitalization leaders of the major securities sectors.
The increases have also exceeded 8%.
The ‘venture capital’ concept sector, which also performed well, also rose by about 6%. More than 10 stocks in the sector hit the daily limit. Similarly, the ‘Internet finance’ concept sector also exploded, and its growth rate followed closely behind the ‘venture capital’ concept sector.
As for the previous popular concept main lines such as ‘mobile Internet’, ‘smartphone industry chain’, and ‘reorganization and shelling’.
At this moment, they have been completely abandoned by the main funds. Related core stocks, such as ‘Huaqingbao, Changqu Technology, Fenda Technology, Netspeed Technology, and Anjie Technology’, have all fallen sharply, taking the top of the decline list in the two markets, and all the funds on the market have shown an outflow state.
Then, the time quickly reached 11:30.
The Shanghai Composite Index did not set a new intraday high, but the strong trading pattern of the two markets did not change, and the hot mood was still hot. The attitude of various funds to follow the trend and chase highs was still strong.
After the midday close...
Everyone’s discussion on the market became even more heated.
Institutions and media that are bullish have even called for the capture of the 2,500-point high.
However, under the influence of extremely hot and crazy emotions, the Shanghai Composite Index still failed to refresh the intraday high and take another step towards the 2,500-point mark when the market opened in the afternoon. Instead, it plunged under a wave of extremely fierce selling orders and fell to the 2,480 mark.
"It feels like the securities can no longer expand their volume and can't go up!"
Seeing that the index has charged several times but returned in vain, some retail investors in the market who are paying attention to the market have finally discovered something wrong.
"It's hard to support the market alone, it's hard to support the market alone! Now...it's time for the two big players, insurance and banking, to make efforts."
"Yes, the growth of the securities sector has reached its limit. Now...it's time for 'big finance' to make collective efforts. As long as insurance and banking can rise by 1.5 points, the Shanghai Composite Index can cross the important mark of 2500 points. As long as it crosses 2500 points, new space will be opened, and the right-side investment funds that are still waiting outside the market will surely come in waves. At that time...the market volume will be guaranteed."
"Indeed, it's just one step away!"
"This step can definitely be taken, after all, it has reached the threshold."
"In fact, it's not that securities can't go further. The key is that there is no super main force to seal Huaxin Securities, the leader. As long as Huaxin Securities closes the board, the securities sector will definitely go straight to the collective limit."
"It's difficult to seal Huaxin Securities, a super large-cap stock with a circulation of hundreds of billions!"
"It's really difficult. To seal this check, you need 1 billion funds to start!"
"It's a pity that Zhang Mengzhu is still wandering around the Hong Kong stock market and has not completely returned to the A-share market , we won't see him closing Huaxin Securities."
"What about Caifu Road and Jiefang South Road?"
"The two bosses are also the top-notch speculators in the market. At this time... they should have the courage."
"There are too many institutions gathered on Huaxin Securities. The operation methods of Caifu Road and Jiefang South Road are rarely associated with institutions. It's difficult for them to close Huaxin Securities!"
"Relatively speaking, it's easier to pull "insurance and banks", right?"
"It's also difficult. The logic of insurance and banks is not as hard as that of securities. Moreover... the market volume is insufficient. Have you seen the previous popular main concepts of the ChiNext, how badly they were drained? "
"It depends on whether the institutions can work together here."
"We must work together. If we can't get through this wave, it will hurt people's morale."
"Yes, if we can't get through it, the market is very likely to turn from long to short. After all, the important pressure level has arrived. If we can't get through it, adjustments will come. The profit-taking plates that have accumulated in the market for so long will definitely not sit on the sidelines again."
While everyone was discussing, it was 1:42.
When the Shanghai Composite Index fluctuated between 2470 and 2480 points for nearly 20 minutes, the market finally began to choose a direction again.
I saw a large amount of main buying funds began to attack the insurance and banking sectors in an all-round way.
As expected, when the securities sector had reached its limit and could no longer continue to expand its volume and attract funds to continue to chase high, the main funds of various institutions chose to pull up the insurance and banking markets, the two super-large players.
However, in the insurance and banking sectors, the future expectations are not strong, and there is no hard logic to support them.
And in the current situation where there is not much follow-up funds in the market.
The strong attack of various main funds not only failed to gather a surging follow-up effect and a strong breakthrough trend, but just pulled up these two super sectors that devoured funds, other market industry sectors and concept sectors further lost blood, and the phenomenon of main funds fled.
"Stupid, it's just stupid!"
Seeing the super main institutions in the market trying to pull insurance and banks to drive the index to break through, Su Yu couldn't help cursing in the internal trading room of Yuhang Investment Company: "The market funds are obviously insufficient, and they are still pulling this kind of market gold-eating beast. It's a ghost that the index can go up. Can't it be used to leverage the core concept stocks of the GEM that have been falling continuously and have cleared a lot of profit-taking? The breath is missing in the SME board and the GEM, not the weight. Why don't you understand?"
At this moment, market expectations are still there.
According to his understanding, if these institutional players were willing to give a push to the SME Board and ChiNext, which were obviously suffering from severe losses, the index might be able to touch the 2,500 point mark. But to do so now... is completely hopeless.
"Li Meng, speed up, and exit the positions without distinction!" Su Yu sighed and ordered, "The index has reached the critical value, and 2500 points cannot be touched. The market sentiment is about to reverse completely. The profit-taking orders that were waiting on the sidelines before are estimated to be smashed in large quantities to stop profits. The best window for reducing positions has passed. In the future... we will probably start to compete for liquidity on the market."
"Understood!" Li Meng responded and quickly issued relevant instructions.
At this moment, she also felt that the market potential had been exhausted and the bulls could not continue.
As her instructions were issued...
The next moment, at 1:46, in the "Securities, Venture Capital" sector, almost all the popular core concept stocks, including Oriental Securities, Oriental Venture, Shibei Hi-Tech, Zijiang Enterprise, which had not increased much throughout the day, suddenly broke out with extremely terrifying volume.
Continuous large orders of tens of thousands of hands bombarded the market.
Within a minute, Shibei Hi-Tech and Zijiang Enterprise broke the limit, and their stock prices plummeted.
Within two minutes, the 400,000-lot block orders of Dongfang Securities were exhausted. The two funds managed by Su Yu placed 100,000 sell orders on this stock in a row.
Within three minutes, Dongfang Venture broke the board and the transaction volume soared.
At the same time, on the market of heavyweight stocks such as Huaxin Securities, Huatong Securities, and Huashang Securities, there were waves of large orders of tens of thousands of lots.
With billions and billions of funds, they rushed out desperately.
The two markets ushered in a crazy dive.
At 1:51, the Shanghai Composite Index broke through 2465 points and lost the intraday shock support platform for hitting 2500 points.
At 1:55, the Shanghai Composite Index broke through 2450 points, and the increase was reduced to less than 2%.
At 2:02, the Shanghai Composite Index broke through 2440 points, and the increase was reduced to less than 1%, leaving a long upper shadow on the K-line chart again.
At 2:15, the Shanghai Composite Index broke through 2430 points and returned to yesterday's closing position, swallowing up all the gains of the day.
In the more than 20 minutes when the index plunged wildly, the overall market situation had also undergone a comprehensive mutation.
The strongest securities sector in the two cities saw its growth rate cut from the highest 7% to around 3.25%.
The growth rate of the "venture capital" concept sector also shrunk from the highest 6% to around 2%.
As for the insurance and banks that were the main targets of institutions more than 20 minutes ago and were prepared to help the index break through, they were now hit by the surging follow-up selling and fell into the water.
The main line concepts of the SME Board and the GEM, and the previous hot stocks.
At this moment, it was even more miserable.
Among them, Xinwei Group once again went straight to the limit, and a number of previous hot high-priced stocks such as Huaqingbao, Changqu Technology, Netspeed Technology, and Fenda Technology fell by more than 7%.
Then, when the market was shocked, investors thought that such a sharp drop could be recovered in the late trading.
They also believed that all the sharp drops in the market were good opportunities to buy.
When the time jumped to 2:30, more violent and crazy selling began to ravage the market, and further rapid diving came.
At 2:35, the Shanghai Composite Index turned green, and the ChiNext Index fell by 1%.
At 2:42, the Shanghai Composite Index fell by 1%, completely filling the gap of the gap-up opening, while the ChiNext Index fell by 2%, and more than 20 stocks in the two markets hit the limit.
At 2:45, the core hot sector, the securities increase fell back to about 2%, and the 'venture capital concept' sector increased to around 1%.
At 2:51, the Shanghai Composite Index fell by 1.5%, the ChiNext Index fell by 2.73%, and more than 30 stocks in the two markets hit the limit down, while the limit up stocks had fallen from the peak of 42 to 12. Stocks that hit the limit up were everywhere, and... Among them, the potential Hengxin, which had the highest limit up of 9 times in 10 days, had gone out of the ceiling and floor effect, and the venture capital concept stocks and Wanqi Enterprises had also gone out of the ceiling and floor situation.
At 2:53, the core stock of the brokerage firm, Huatong Securities, which had the highest increase of 9 points, fell back to about 1%, and the full-day transaction volume soared to the 4 billion mark, and the increase of Huaxin Securities at this moment also fell back to around 1%. The main funds on the two core stocks had changed from the previous large inflow to a large outflow.
At 2:55, the Shanghai Composite Index fell by 2%, breaking through the 2380-point mark. Not only did it fail to touch the 2500-point mark, but it also lost the 2400-point mark.
Finally, the market closed at 3 o'clock.
The Shanghai Composite Index was priced at 2378.36 points, a drop of 2.13%, and the ChiNext Index was priced at 1315.32 points, a drop of more than 3%.
As for sectors and individual stocks.
Among all industries and concept sectors in the two cities, only the securities sector remained slightly red, and the rest... all showed a downward trend, which was completely different from the situation in the morning and even at the closing of the midday.
Among the falling sectors, the ST sector set off a limit-down wave, with 15 ST stocks hitting the limit-down.
Then the sectors such as "mobile games", "film and television media", "wearable devices", and "Apple concepts" fell sharply, exceeding 4%, leading the decline in the two markets.
In terms of individual stocks, the popular high-priced stocks in the early stage were sold off by the main funds. They were either at the limit down or below the drop of 7 points. The only strong securities sector also had no stock at the limit up. After the core leader Dongfang Securities was smashed from the limit up, it fell back by nearly 8 points before giving up. It finally closed up by only 2.11%. As for other securities stocks... it was even more miserable.
After the market closed...
Facing the market's big reversal trend today, facing this tragic massacre.
All investors who are looking forward to the bull market, including many institutional main forces and hot money main forces who do not know that there is a potential huge negative pressure in the market, at this moment... feel that they have been poured with a basin of cold water from head to toe. Their hot hearts have cooled down in an instant, and their beliefs in the bull market have collapsed!
PS: This is a long chapter of 10,000 words. Please vote!