At 9:32, Fenda Technology rose by more than 7%, and the GEM index rose by more than 1%.

At 9:35, Huashang Securities rose by more than 5%, CEFC Securities and Huatong Securities rose by more than 2%, and even Oriental Securities, which was affected by the East of Zhejiang and opened sharply lower, also turned red from under the water at this moment, and at the same time ...... The Shanghai Composite Index also rose to 0.85%, approaching the 1% mark, led by the rapidly rebounding securities sector.

At 9:38, Zhezhou Oriental, which opened with a falling limit, began to loosen the disk, and a large number of bottom-buying funds poured in.

At 9:42, Fenda Technology hit the daily limit, and other related "smartphone industry chain" concept stocks also followed suit, and the GEM index jumped to 1.5%.

"What are you doing, suddenly attacking so fiercely!"

Seeing the index and related popular stocks, rebounding across the board, among the retail investors in the market, there were retail investors who only sold their positions at the end of yesterday and were dumbfounded.

"It's not really anti-bag, is it? What the hell am I ...... This is again cut at the lowest point. ”

"Let the market fly for a while, isn't it a good trend yesterday morning? As a result, after 10:30 o'clock, it completely changed its appearance, and today the index opened so high, and it was so eager to rise, and the amount of energy in the entire market was not released at all, I think ...... If you want to stabilize, I'm afraid it's difficult! ”

"It's good, and the market has fallen so much in the past two days, maybe it can really stabilize."

"Yesterday the relevant agency said that the future pension market plan, really, fake?"

"Whether it's true or fake, it's a no-brainer at present, and the last round of social security funds entered the market, didn't it take a long time to start making a move? And...... Even if you really enter the market, can you change the macro trend of the market? I'm afraid it's the final ...... It doesn't change anything, does it? ”

"What about performance? Yesterday, the results announced by Huashang Securities and Fenda Technology still significantly exceeded expectations! ”

"The performance of China Commercial Securities should not represent the entire brokerage sector, right? As for the core stocks in the ...... of Fenda Technology's 'wearable device'-related concepts, as well as the entire 'smartphone industry chain'-related concept field, the performance is really good, but these votes are ...... The stock price has also risen several times, and the expectations have already been full, and it is hard to say how much room there is for the upside, and it is ...... The focus of the recent market is obviously not on the GEM! ”

"No matter what the performance and good, anyway, at this time, I won't be fooled again, this kind of situation of high opening and shrinking and high walking, who chases who is stupid."

"Indeed, judging from the daily K-line of the three major indexes, the pattern has completely deteriorated!"

"I don't believe the adjustment will end so soon."

"Don't chase, don't chase, resolutely don't chase!"

"Fortune Road has been cleared and sold, chase a yarn! What a strong ...... Then let's create a new high first, create a new high, release the amount of energy, and I will chase the position. ”

"Let's wait for half past ten to see it, the volume shrinks sharply in the morning, and it's mostly a scam."

"Unless Huashang Securities can come up with a daily limit, I will enter."

"I still hope for a strong rebound, especially ...... I was buried in the east of Zhejiang, and I hope that the market can rise a little higher today, so that I can come out of the east of Zhejiang. ”

"Didn't Zhezhou Dongfang put some amount just now?"

"I didn't pry it open! Amazing...... In front, all of them are the main big orders, and there is no channel advantage, and the wave just now can't get out at all. ”

"Zhezhou Dongfang also pry a wave, yes, I was buried in the potential Hengxin is miserable, directly immeasurable, there is no money to pry the board at all."

"That's it, the popularity of both markets has fallen to the limit, I really don't believe the market can rebound anywhere."

"Not necessarily, Fenda Technology has just closed the daily limit, and the market volume can begin to be released."

"Huh...... The Zhezhou Oriental Drop Limit Board has opened, and the 'Oriental Three Musketeers' are all rising in a straight line, and the market feels that it is really releasing volume! ”

"I feel that the market is really going to reverse the package today!"

"The market light of Fortune Road is not working? It shouldn't be! ”

In addition to the 'wearable devices' as the core of the 'smart phone industry chain' related concept plates, the 'mobile Internet' related concept plates in the direction of the weight of the gem, and its core stocks, have also begun to move up."

"Could it be...... Is that really the end of the adjustment? ”

"I feel that it is the center of gravity of the market, and it is shifting again in the two core main lines of 'mobile Internet' and 'smartphone industry chain' in the direction of the GEM!"

"Look at this...... Will it be Fortune Road redeploying and rebalancing? ”

"Whether it's or not, anyway, I won't chase the position on the left side anymore, if Fortune Road really starts to increase the two main lines of 'mobile Internet' and 'smartphone industry chain' again, then this afternoon, on the dragon and tiger list of Fenda Technology, you will definitely be able to see traces, and when the time comes...... Seeing that Fortune Road has really appeared, it is not too late to increase your position. ”

"I think ...... too At this time, it is still prudent to chase the rise! ”

With the rapid rebound of the market, as the majority of retail investors continue to discuss, the market's sentiment divergence has not decreased, but has intensified.

And at this time......

At 10:10, the GEM index rose by 1.89%, one step away from 2%.

At 10:15, in the 'wearable device' concept plate, 4 stocks hit the daily limit, and in the associated 'Apple concept' plate, the core popular stocks Xinwei Communication and Anjie Technology have also risen by more than 7%, which has the momentum of impacting the daily limit.

At 10:21, the Shanghai Composite Index rose by 1.3%, and Huashang Securities rose by nearly 7%.

At 10:26, the Shanghai Composite Index rose 1.5%, and the ChiNext Index broke through the 2% gain, recovering most of yesterday's losses.

At 10:30, in everyone's expectation and apprehension, the Shanghai Index, the Shenzhen Index, and the ChiNext Index did not show a significant dive, and maintained a good shock situation at a high level.

"No diving, steady!"

Seeing the Shanghai Composite Index rising at 1.5% and the ChiNext Index maintaining volatility around the 2% increase, many retail investor groups in the market who were originally nervous couldn't help but breathe a sigh of relief.

Subsequently, the cries of 'buy, buy' began to increase.

The sentiment of obvious divergence has also begun to tilt in the direction of the bulls, the market volume can begin to explode rapidly, and the index has regained from a short-term shock pattern to a rise.

However, just as the majority of retail investors in the market generally turned to optimism, they finally couldn't help it and began to chase their positions.

At 10:46, suddenly three consecutive large orders of 10,000 hands were smashed out of the disk of Fenda Technology, which had blocked the daily limit, causing Fenda Technology to break the board and the stock price to fall.

At 10:47, under the broken board of Fenda Technology, there was also a sell-off of 100 million funds on the board of Huashang Securities, and the stock price fell rapidly from around 7%, of course...... At the same time, the Shanghai Composite Index also retreated.

So far......

The arrival of the belated dive, the market bullish sentiment, which had originally picked up, was poured with cold water again.

"Damn, it's uncomfortable not to smash, isn't it!"

In the face of the market diving again, the relevant core stocks and indexes, the rise of the trend of rapid decline, the retail investor group who just couldn't help but chase into it, was simply depressed to the extreme, extremely corrupt: "Damn, this group of stupid fork main forces, it's simply toxic, and the good anti-package trend has been smashed again." ”

"I don't understand, Fenda Technology has obviously come out, why do you want to smash it?"

"It's not just a stock of Fenda Technology! Watch ...... Almost all the popular stocks with good liquidity in the market have a lot of money to sell at this moment. ”

"Could it be...... Is it wealth that Lusu is always throwing? ”

"How is it possible, Mr. Su has already put out so many chips two days ago, how can he still throw them?"

"Then why are these main funds in the field so consistent?"

"Indeed, it doesn't make sense, there is no panic in the current market, and there is no shortage of liquidity, is it necessary to smash the market like this?"

"Hey...... Yesterday was the collapse of the market in the east of Zhejiang, but I didn't expect it to be today...... It will be Fenda Technology that has collapsed the market! ”

"If the popularity faucet is not blocked, the mood will naturally dissipate in an instant, but ...... Today's main funds of selling are indeed a little strange. ”

"Is there something hidden in the negative?"

"Can't you? Yesterday, the regulator released the positive, which is negative again? ”

"So what are these main funds afraid of? It's ...... that such a hard price limit board of Fenda Technology can be smashed open."

"Hey, the market has been going weird these days."

"Weak, after all, weak, special...... I really shouldn't be chasing, I guess I was buried again today, hey...... Fortune Lusu is really a god! ”

In the midst of the excitement of the crowd, the market pullback continues.

At 10:57, the Shanghai Composite Index rose to 0.87%, and the ChiNext Index fell to 1.32%, and the core popular concept sector that led the rise, the main capital flow has changed from the previous net inflow to a net outflow.

At 11:02, the Shanghai Composite Index rose to 0.62%, and the ChiNext Index rose to 0.93%, and the two major indexes have completely spit out all the gains from the opening, which rose rapidly, and the core popular stock Fenda Technology has fallen from the price limit to about 6% at the moment, and the share price of Huashang Securities has risen less than 5%, and after the Oriental Securities briefly turned red, it fell back into the water, and Zhejiang Oriental also re-sealed the fall limit......

At 11:10, the Shanghai Composite Index and the ChiNext Index began to receive temporary support after hitting a 0.5% increase, and the market fell into a sideways shock situation again.

But even if it's a volatile situation......

The main capital flow of the core popular concept sectors of the two cities is still showing a continuous net outflow, with large orders selling in an endless stream.

"Sure enough, the market was still severely suppressed by the potentially negative news that 'IPO is about to restart'." Seeing that the market trend completely engulfed the intraday rally after the opening, at this moment inside the Shenzhen Xinniu Fund Company, in the trading room, the fund manager Fang Xinsheng, who had been staring at the market, sighed secretly, and said helplessly, "The bearish does not land, the market is difficult to have a market, and what makes people even more speechless is that the regulators and analysts of various financial institutions are still singing more about the market at this time, causing emotions, trying to pull the market back, it is ...... It's just ill-intentioned! ”

At this time, the market obviously did not fall through.

Such a trigger of emotions and a pull-up of shipments is completely consuming the investment confidence that the market has accumulated with great difficulty.

If this kind of investment confidence is seriously invested and depleted, even if the follow-up profits fall to the ground, I am afraid that there is no emotion and confidence to support, and it will be difficult to have a sustainable big market again.

"With poor information scissors, this is also something that can't be helped." Next to Fang Xinsheng, Liu Xin, the general manager who was also staring at the big screen in the trading room, sighed, "The retail investor group can only see the news on the bright side, and they can only follow the news on the bright side for investment operations...... This is the ecology of the market! ”

"Even so, we have to pay attention to sustainability!" Fang Xinsheng replied, "Pulling up shipments so continuously can be regarded as exhausting and fishing." ”

"Who would think so much?" Liu Xin smiled, "Everyone is just staring at their own one-third of an acre." ”

Fang Xinsheng was silent for a while, smiled bitterly, and replied: "Also, the financial trading market is inherently a place of emotional amplification and a prisoner's dilemma, everyone who enters the market is playing, and its fundamental purpose is only for the profits in hand, as for the overall market, how macro is, few people care." ”

Liu Xin bowed slightly, changed the topic, and asked: "The news of the resumption of the IPO in the market should be spread in an all-round way, depending on the situation...... The trend of the market in the afternoon, I am afraid that it will be worse, has the position of our fund been reduced to the lowest position? Although the market has fallen so much in the last two days, it feels ...... Like you said, if confidence collapses, the rebound becomes far away, and we need to be prepared to avoid the risk of the market falling. ”

"It has been reduced to the minimum position line." Fang Xinsheng said, "Even if the follow-up market is bearish, it will not have much impact on the net value of our fund." ”

"That's it!" Liu Xin nodded.

Then, after a pause, he asked again: "Lao Fang, after the news of the 'market IPO restart' landed, what do you think of the market trend?" Do you think the upward trend can be repaired? ”

"It's hard!" Fang Xinsheng said, "In this wave, there are too many chips at the top, and if you want to liberate this part of the chips in the future, you need more powerful incremental funds, and incremental funds are ...... It is strongly related to market confidence, the resumption of IPOs, the arrival of the biggest blood-sucking effect of the market, and it is no wonder that investors' confidence can be good. ”

"And there is not enough incremental funds to open up the situation and liberate this part of the trapped chips."

"Then I can only let this part of the chips loosen by itself, and I can't help but cut the meat."

"It's a pity that retail investors in the A-share market usually have an obvious feature, that is, profitable stocks may not be able to hold, but loss-making stocks are likely to be dead."

"This leads to the market having to rely on self-regulation to loosen this part of the chips."

"The time and space oscillations of adjustment will inevitably not be small."

"Moreover, the areas where the market currently has obvious future expectations are basically concentrated in the 'mobile Internet' and 'smartphone industry chain' fields of the GEM, but these two areas are ...... After a lot of hype before, all the core hot stocks, the stock price is high. ”

"In the case of the 'IPO restart', the huge vampire of the market, is back in the world......"

"These stocks will be significantly depressed by valuations."

"If there is no sharp adjustment, or if the future expectations are not further enhanced, these stocks will have no investment and game value in the current position."

"That is to say...... At present, there are no obvious investment opportunities in the entire market. ”

"I'm thinking, this is also the reason why the capital of Fortune Road resolutely cleared its position after eating the wave of 'securities and venture capital' with the help of the news of 'market IPO restart'."

"Although this capital is quite annoying......"

"But its choice of investment opportunities in the market, as well as the timing of buying and selling, is really admirable, and I have to be convinced!"

"So...... Are you completely bearish on the market? Liu Xin was a little surprised, "But you also said before that the market is the foundation and expectation of a bull market!" ”

Fang Xinsheng replied: "There is no contradiction between the two, after all, I am bearish on the market, which is a short-term and medium-term strategy, and bullish on the market, which is a long-term strategy, but we, as a fund management company, must be selective in order to be responsible for the performance of the net value of the fund and the investors who invest in us. ”

If it is a personal long-term investment, he certainly does not recommend clearing out of the market at this time.

After all, anyway......

After the second half of this year, the market has been out of the previous lifeless long-term immeasurable downward trend, with a long-term bull market energy and emotional foundation, and the current Shanghai Index, Shenzhen Index, ChiNext index from the bottom did not rise much, the overall market valuation, is still below 15 times, as long as the long-term expectations are further improved, through the short-term market shocks and adjustments.

He thinks...... The future is still to be looked forward to.

"Okay!" Liu Xin thought about it, and couldn't say anything wrong with Fang Xinsheng's investment strategy, and replied, "In terms of fund trading, it's your business, so I won't ask too much." ”

As he spoke, he turned his gaze back to the big screen in the trading room.

At this moment, the time has reached 11:30, the two markets are frozen, the Shanghai Index is finally fixed at a rise of 0.43%, and the ChiNext Index is fixed at a rise of 0.23%, and the two major indexes are ...... All of them gave up all the intraday gains and performed extremely weakly.

In addition to indices, sectors and individual stocks.

The core popular sector, the securities sector index closed up at 0.12%, in addition to the performance of the good performance stimulated by Huashang Securities also maintained a rise of about 3%, as well as CEFC Securities, Huatai Securities barely red plate, other securities stocks, all in the underwater decline, of which ...... Orient Securities fell 4.73% to close, and killed a large number of investors who bought the bottom.

Venture capital concept plate, than the securities are even worse, at noon closing, has risen from the highest point of the session of 1.14%, fell back to 0.89% underwater, related core concept stocks, Zhezhou Oriental fell limit, 10,000 enterprises fell 6%, and its share price has been located in the lower position before the start, a new low in the stage, Oriental Venture fell 5%, but also killed a large number of investors who bought the bottom, Shibei High-tech, Zhangjiang Hi-Tech, Luxin Venture Capital today is relatively strong, but still maintains a slightly red plate state.

The core concept plates related to 'mobile Internet' and 'smartphone industry chain'.

The 'wearables' and 'Apple concept' sectors that previously led the rise in the two cities have fallen back most of the gains at this moment, fixed at 0.56% and 0.44% gains, and its core concept stocks, Fenda Technology rose 5.33%, Anjie Technology rose 2.31%, Xinwei Communications rose 1.87%, Goertek rose 0.98%, and Crystal Optoelectronics rose 0.76%......

Previously, the core concept of 'mobile Internet' was closely followed by the changes of 'wearable devices' and 'Apple concept'.

The concept of "mobile games" is fixed at a rise of 0.21%, and the related concept plates of "Internet finance", "network security", "mobile payment", etc., are only slightly red, maintaining a similar situation as the opening, and the core stocks in the related concept field, Huaqingbao, Changqu Technology, Huake Jincai, Yinzhijie, Jinzheng shares, Changliang Technology, Hengsheng Electronics, Oriental Wealth, etc., their trends are also after the rise, falling sharply, and the performance of the main funds on the disk is showing a net outflow.

Faced with such a midday closing situation......

The vast number of market investors, in addition to abuse, depression, and resentment, are no longer strange.

After all, this has been diving and falling for three consecutive days, and under the interweaving of various emotions, everyone also has full expectations for the miserable trend in the afternoon, and they have shouted to reduce and clear positions.

Of course, at the same time, there is news about the 'resumption of market IPOs'.

It has also flowed into the ears of more investors from various so-called internal channels, casting a shadow on the already miserable market.

And in the case of this kind of intertwined emotions, and the potential bearishness, is becoming more and more prominent.

At 1 p.m., as soon as the market opened, it was sold by countless unknown main funds, and many popular stocks with abundant liquidity, as well as indices, fell directly under the water without any resistance.

After that, the market went down unilaterally without any surprise!

In the end, at the close of 3 o'clock, the Shanghai Composite Index fell by 1.36%, losing 2,300 points, and the four-day amplitude reached a terrifying range of more than 200 points; The ChiNext index fell by 1.77%, and the index fell to the 1250-point range, which is more exaggerated than the Shanghai Composite Index in terms of intraday amplitude.

Of course, in addition to the index, there are related hot concept sectors, as well as core hot stocks.

The degree of its killing is even more terrifying.

"What's special, it's endless, this trend of falling sharply for days can be called a small stock market crash." In the face of such a tragic closing situation, Yanjing, Shenhua Fund, in the trading room, the fund manager Chang Li was scolded again, "Du Te has fallen back to the original point when it started, and it is still falling!" ”

The main stocks of the fund he is in charge of are not in the red today.

Even if there is a stock in the red, the red market time is extremely short.

In addition, after today's market diving, the follow-up trend is completely a unilateral downward trend, and the liquidity of the two markets is worse than yesterday.

So he didn't sell much of his chips at all.

Of course, what is even more infuriating is that he found that the stock of Orient Securities, which is heavily held by his fund, still has endless super orders for selling today, competing with him for market liquidity.

And at the same time, the magic capital, inside the Yinghui fund.

Fund manager Liu Guanhai saw that this was simply an unsightly market trend, and he was also angry, depressed and irritable.

Due to his greed, the main fund he is in charge of only began to reduce its position on a large scale when it dived in the 'securities' sector yesterday after its full position was pressed into the 'securities' sector.

Naturally, after such a short period of time.

In the full-scale collapse of the market, the lack of liquidity, he smashed again and again, desperately took the initiative to kill, until now he has not finished all the chips, and, due to the rapid decline of the disk, the fall limit and continuous fall of the relevant heavy stocks, the securities stocks he has repositioned have all fallen below the cost line and become a state of loss.

This means ......

In this round of market, not only did he not eat the meat, but he was also beaten.

Of course, what is even more depressing is that he did not have a net position, in the next ...... Most of them will also incur losses, and it will also affect the net performance of the fund.

"Hateful, hateful, hateful!"

Liu Guanhai was extremely irritable in his heart, and in the face of this complete failure and miserable harvesting investment strategy, he really regretted not being at the beginning.

However, he also knew that the matter had come to this point, and even if the result was unacceptable to him, he had to accept it, so he ...... He gritted his teeth, and he could be regarded as a strong control of the irritable emotions in his heart.

It's a pity that when the new dragon and tiger list was refreshed at half past five in the afternoon, and Orient Securities was on the list with a deviation from the price increase of -7% in the day, and when the data of buying and selling seats was disclosed, he forcibly suppressed his irritable emotions and couldn't suppress it anymore, and he smashed the teacup in his hand directly with tears in his eyes, and roared angrily: "What the hell...... How can the road to wealth still exist? ”

The same ......

In Yanjing, inside Shenhua Fund, in the trading room.

Chang Li stared at the refreshed list of dragons and tigers, looking at the "Huashang Securities Yuhang Fortune Road Business Department" seat is still ranked in the third position of Oriental Securities, with a selling amount of more than 68 million...... How many chips are lurking in this stock? ”

If you miss the opportunity, you will fall behind.

Faced with the continuous pressure and smashing of the fortune road, and he didn't know how many chips the other party still had in his hand, he was really desperate in his heart.

And what made him collapse even more was that Fortune Road was on the list today, not only Orient Securities.

In the field of the concept of 'securities and venture capital', several popular core stocks that have collapsed and fallen sharply have wealth in their selling seats.

Although overall......

Today's selling volume of Fortune Road has decreased by more than one level compared with yesterday, and there is no 100 million-level capital out of the position.

However, the emotional impact of the other party's continuous smashing on the market, and the follow-up smashing funds driven by the market are simply innumerable.

At the same time, of course.

Countless major institutions, floating capital, and retail investor groups who pay attention to the data of the Dragon and Tiger List are also extremely shocked when they suddenly find that Fortune Road is still selling out on a large scale.

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