"Damn, what's going on?"

When the entire market is changing rapidly, all the core weight financial stocks are canceled, the selling is tilted, and the index is falling in a straight line, the majority of retail investors in the market, just like the 10 minutes before the close of the noon market, the change in mentality, the heart is also full of shock.

"Why is it that all of a sudden, the buying order is gone?"

"Not only are the buying orders gone, but the selling orders on the disk are pouring out like crazy, which is really evil."

"Looking at this situation, dozens or tens of billions of funds in the morning, is it lonely?"

"Damn...... Lao Tzu chased after him from a high position, what about the good ones? These funds are simply sick, rushing to buy before the close of the afternoon and rushing to sell at the opening of the afternoon! ”

"It's really sick, what's the picture?"

"The Shanghai Composite Index goes straight up and down, just like a small-cap stock that is controlled by the bank, it's just ...... This should be regarded as a big money manipulation of the market, right? ”

"Buying before noon, selling after noon, market sentiment and funds to follow the trend, all of them are not up, what is this manipulation?"

"I don't know, I just think that the market around noon today is really wonderful, harvesting back and forth, without stopping, the evil door is very evil!"

"yes, I've never seen a market move like this."

"It depends on the situation, I guess I bought the wrong one, right? Otherwise, how to explain that all buy orders were withdrawn after the opening? ”

"Tens of billions of funds were bought before the midday closing, can this be wrong?"

"Whatever the reason, it's good that I didn't chase and dodged a knife, otherwise...... I can't sell it if I want to. ”

"I heard that Guangda Securities made it up, and their company's shares were suddenly suspended before the opening of the afternoon market."

"Guangda Securities? This securities company is not considered a first-class echelon in the market, right? How can it make such a big move? ”

"It should be Guangda Securities, because at this moment, the company's Hong Kong stock stock has dived 6 points in a straight line, while other brokerage companies have basically not moved.

"Oh my God! Look at it this way...... It's really a real hammer in the market, and this one is straight up and down, which is made by Guangda Securities. ”

In the exclamation of the majority of retail investors, only a minute passed.

On the way to the continuous decline of the underlying stock and the index, the trading volume of the CSI 300 index futures can be further expanded, and dozens and hundreds of short selling orders are endlessly suppressing the buying order, pointing the CSI 300 futures to 2400 points and entering the lower point.

And at the same time......

On the CSI 300 futures index, the big market investors who were all killed before short and long were also scolded in the face of the trend of killing the shorts and killing the bulls in the futures.

"Manipulation, this is definitely market manipulation!"

"What's more, the long position I opened at 11:27 a.m. was all forced to stop loss at this moment, and today's index trend is really toxic!"

"The normal trend of the market cannot be so straight up and down, someone is definitely manipulating the index."

"It should not be a coincidence that the trading situation of today's futures index can be magnified many times, right? This share of money ...... Is it to manipulate the index by borrowing the underlying stock, and then use the futures index to make a profit? ”

"It's possible that there is still a lot of money on the market."

"The more I look at it, the more it looks, there are too many short selling orders on the disk, and the futures index of the CSI 300 has a gap of more than 90 points with the real-time point of the CSI 300 index."

"It seems that this price difference is going to slide to more than 100 points!"

"The discount is so obvious, it should be to lure everyone to long CSI 300 index futures, so as to establish more counterparties for the short funds that are crazy to short at the moment, right?"

"If the other party really smashes the underlying stock and controls the index in order to make a profit, then this discount is obviously a trap to lure more."

", futures index and current index, such a large discount, if it is a trap, does it mean that the CSI 300 index will have to fall next!"

"Inevitably, it is impossible for the two to always have such a large discount, usually a difference of 20 or 30 points is normal."

"I'll ...... The sell-off is so fierce. ”

"Whether it's the underlying stock or the futures index, this will ...... There is a feeling of being maliciously shorted! ”

"Guangda Securities' Hong Kong stocks have collapsed, and the decline has expanded to 12%, is this really Guangda Securities' handiwork, this guy...... Aren't you afraid of the exchange and the Securities Regulatory Commission's transaction supervision department? Obvious stock price manipulation and market manipulation too! ”

And at a time when many large investors who were killed and liquidated and forced to stop losses on the futures index were indignant and indignant......

Inside Guangda Securities.

The entire investment and trading strategy department, all traders, has been mobilized.

We followed the instructions of the leaders of each trading group and the general manager of the investment and trading strategy department, frantically sold all the stocks that could be sold in the securities account to withdraw funds, and at the same time on the CSI 300 index futures, we maximized the short orders, hoping to achieve the purpose of hedging as soon as possible and recover the losses caused in the morning.

And at this moment, the Shanghai Stock Exchange Stock Exchange Center, Futures Trading Center Supervision Department.

At the same time, the crazy short selling behavior of Guangda Securities has been monitored.

So, in less than 5 minutes, the phone calls of the two major supervision departments came into Guangda Securities again, and the leaders of the supervision departments directly shouted at the CEO of Guangda Securities: "What are you going to do? ”

From the perspective of the Internal Oversight Service as a whole......

Guangda Securities' compensatory measure, with the help of the frenzied selling of the underlying stocks, and the arbitrage behavior of shorting the CSI 300 Index futures on a large scale has constituted the suspicion of insider trading and market manipulation.

The phrase, 'What are you going to do?' is both a reminder and a warning.

Of course, if it weren't for the substantive background of Guangda Securities, which is the national capital, the internal regulatory authorities would not even have this warning, and would directly restrict the opening of positions.

The CEO of Guangda Securities could only try to appease the other party in the face of the other party's roar.

At the same time, I was scolding my mother in my heart.

If we do not make up for the losses in the morning through this hedging situation, make up for some losses and capital differences, and face the billions of funds that will be settled before the next trading day, the company has no choice but to bear the end of credit bankruptcy overnight.

And such an outcome is compared to the so-called suspicion of market manipulation and insider trading.

It was even more unacceptable to him.

So, after simply appeasing the other party and using the procrastination trick......

The entire Guangda Securities Investment and Trading Strategy Department did not rein in its own actions, but intensified its efforts to open short CSI 300 Index Futures, and at the same time, further sold all the company's stock chips on a large scale, the first to withdraw funds, and the second to go all out to kill the market, to press down the index, so as to facilitate their own trading in the main contract of Shanghai 300 Index Futures, large-scale harvesting of huge profits, in order to make up for the losses caused by buying chips in the morning.

As a result, Guangda Securities ignored the warnings of the regulators and desperately shorted the market.

...... the market as a whole

As long as all the stocks linked to the proprietary investment disk of Guangda Securities have all been sold off and fallen miserably, tens of millions, hundreds of millions, hundreds of millions of chips, it can be said that they are desperate to escape, so that other investors holding shares in these stocks have suffered huge losses.

Then, after losing the Tianda Securities capital tray, the 'big finance' weighted stocks fell across the board.

and the trend of futures indices with serious discounts and endless short selling orders.

The investment sentiment in the two cities, from the high-pitched situation in the midday closing stage, quickly turned sharply, and with the passage of trading time, slipped into a downturn and even panic.

And due to the influence of investment sentiment......

The sell-off in the market has become more and more serious, and it took less than 10 minutes for the major indices to engulf all the gains before midday, and ...... At 1:32, several major indices fell further to intraday lows, with an average decline of 1%.

At this time......

Investors in the entire market are really like a dream when they look at the extremely long antenna on the head of the Shanghai Index.

"Mr. Xu, inquire clearly!" When the market had fallen underwater and panic began to spread, Modu, Zexi Investment, Director Qiao of the company's market information department walked into the trading room again and whispered to Xu Shen, "The failure of Guangda Securities' internal trading system has led to extreme changes in the disk. ”

"Okay, hard work!" Xu Shen stared at the market that was still falling, as well as the trading disk of the main contract of the CSI 300 Index, which had reached 2322 points, and nodded lightly, "Continue to inquire about the news about Guangda Securities, these news ...... For us, the value is great. ”

After speaking, when Director Qiao left.

Xu Shen tilted his head and then instructed the trading team led by Zhou Kan: "Continue to short the CSI 300 Index futures, Guangda Securities should have stood on the edge of the cliff, their choice ...... It won't be a lot. ”

"Good!" Zhou Kan responded and continued to carry out Xu Shen's instructions.

At this moment, the negative news about the 'Guangda Securities operation error' has not been really known by the majority of investors in the market, that is to say, the negative expectations are still there, and Guangda Securities must have to sell the underlying stock and short the index futures to hedge in order to withdraw funds and make up for asset losses.

Therefore, logically speaking, the index still has obvious room to fall in the current situation.

Even if they have successfully speculated and obtained departmental profits, they have not reached the moment of profit-taking and stable exit.

At the same time......

In Yanjing, within Anlan Fund, Xie Wanting, who has also successfully speculated on the main contract of CSI 300 index futures, is also full of joy in her heart, and feels a very satisfied sense of achievement.

Although at the moment of opening in the afternoon, she used her personal account to open a total of 10 short orders.

Overall profitability is limited.

But this is her one step ahead of her prediction of the market, and she is completely correct.

And this kind of trading logic has been verified, and the sense of achievement that the trading strategy fully corresponds to market changes is far more important than simply making money in her heart.