At this time, at 2:05, the intraday turnover of 'CEFC Securities' has exploded to about 23 billion, which has completely become the core position of the fierce competition between the long and short sides in the market.

The rise and fall of the check of 'CEFC Securities' also affects the trend of the entire market from the side.

At 2:06, in the field of 'Internet finance' sector, the stock prices of the three musketeers of 'Great Wisdom, Flush, and Oriental Wealth' have all fallen below 4% of the increase, and the intraday increase of the entire 'Internet Finance' sector index has also fallen to less than 1%.

At 2:07, the turnover in the securities sector reached about 170 billion.

At 2:08, the relatively strong leading stocks in the securities sector, such as Huaxin Securities, Xiangcai Securities, Western Securities, and Pacific Securities, also fell back to below 5% in the day, among them, 'Western Securities' fell back to below 3% after seven or eight points of the earthquake.

At 2:09, the two major weighted stocks of 'Huaguo South Car and Huaguo North Car' completely zeroed in intraday gains and gradually fell underwater.

At 2:10, "Huaguo Construction, Huaguo Metallurgical, Huagong International, Huaguo China Railway, Huaguo Railway Construction, Huaguo Communications Construction ......" and other "Huazitou" infrastructure stocks, the intraday gains continued to fall, and the volume of the disk also continued to expand.

At 2:11, the demon stocks in the field of "Blue Stone Heavy Equipment" and "Huake Sugon", two sub-new plates, have closed the fall limit, and the intraday amplitude is greater than 12%.

At 2:12, the check of 'Yingkou Port', which had rebounded and turned red, went underwater again.

At 2:13, in the case of "Blue Stone Heavy Equipment" completely blocking the fall limit, the "national defense and military" industry sector index plunged again, and at the same time, in the field of its sector, "China Airlines Heavy Machinery, Hongdu Aviation, Aerospace Development ......" and other relatively popular military concept stocks have fallen sharply.

At 2:14, the weighted core stocks in the field of the military sector, such as 'China Airlines Shenfei, China Airlines Xifei, Aviation Power, Northern Navigation, Huaguo Heavy Industry, and Huaguo Shipbuilding ......', have all increased their disk volume rapidly, and the number of active selling orders has suppressed the buying orders layer by layer, and they continue to fall.

At 2:15, in the field of film and television media, such as 'LeTV, Guangguang Media, Huayi Brothers, Huace Film and Television ......' and other core popular stocks, also began to show a rapid explosion and decline, and major stocks have emerged on the market, and extremely large and relatively concentrated selling forces have emerged.

At 2:16, 'Huaguo Metallurgical' fell by 2% in the day, and the same trading volume and turnover also hit a record high.

At 2:17, on the 'Huaguo International' disk, there were continuous 10,000 main selling orders.

At 2:18, the three checks of 'Huaguo Railway Construction, Huaguo Communications Construction, and Huaguo China Railway' fell to near the flat position, and the amount of energy was also synchronously enlarged to a record high.

At 2:19, the Shanghai Composite Index shrank to within 0.6% of the intraday gain, hitting a new intraday low.

At 2:20, the turnover of the two cities has reached more than 980 billion, setting a new record high in the same time.

At 2:21, the intraday turnover of 'CEFC Securities' reached 26.3 billion, and it is still expanding rapidly.

At 2:22, the stock sector index, the intraday increase, has fallen from a maximum of more than 6% to a current increase of only 2%.

At 2:23, the 'straight flush' fell by 3% during the day.

At 2:24, the main line index of the core concepts of "Eurasian Economic Belt", "New Era Road, Maritime Silk Road", "Shanghai Free Trade Zone", and "Reform and Reorganization of Central Enterprises and State-owned Enterprises" has suffered heavy setbacks and has come out of a rapid downward trend, and the concept of "Shanghai Free Trade Zone" has turned from red to green.

At 2:25, the number of stocks that naturally changed hands in the two cities within the day fell from nearly 80 at the peak to only 19 stocks now, and they still maintained the state of daily limit, and the number of fried boards exceeded 60.

At 2:26, with the passage of trading time, the intraday increase of 'CEFC Securities' shrank to within 1.5%.

At 2:27, the intraday increase of the two major weighted sectors of banking and insurance shrank to less than 0.5%, and the intraday turnover of the banking sector reached a scale of nearly 80 billion, which is also a trend of substantial volume.

At 2:28, the A50 index, the intraday increase fell back to within 0.5%.

At 2:29, the total number of stocks in the two cities, including newly listed stocks and stocks with a positive resumption of trading, did not exceed 50 in total.

At 2:30, the total main capital of the two cities, the net outflow, reached the scale of 5 billion.

At 2:31, the 'Straight Flush' fell by 5% during the day.

At 2:32, the intraday gains of the two stocks of 'Oriental Fortune and Great Wisdom' also returned to zero, and the stock price gradually turned from red to green.

At 2:33, the net outflow of the main funds in the securities sector alone reached 3.5 billion.

At 2:34, the rapid rise of several major industry sectors of 'big consumption', 'non-ferrous cycle' and 'petrochemical', especially the major industry sectors of food and beverage, retail and small metals, gradually squeezed into the top of the list of gainers in the two cities.

At 2:35, the intraday turnover of 'CEFC Securities' broke through the scale of 28 billion, setting a new record for the intraday turnover of a single stock.

At 2:36, the net outflow of main funds in the main line of 'big finance' alone reached a scale of 5 billion.

At 2:37, the 'national defense and military' industry sector index fell by 1.5% during the day, and all core stocks in the sector were hit hard.

At 2:38, the turnover of the two cities reached 1.01 trillion yuan.

At 2:39, the high-standard leading stock of the securities sector of 'Western Securities' rose to zero during the day, and the sell-off on its disk continued to increase.

At 2:40, the number of intraday turnover in the securities sector reached more than 180 billion.

At 2:41, 'Yingkou Port', the 'Eurasian Economic Belt', 'On the Road of the New Era, the Maritime Silk Road', and the 'Northeast Revitalization', the recent leading stocks in the main line of the core concept theme, suddenly stepped out of the trend of the sky, with an intraday amplitude of more than 20%.

"Alas, this time the market should be completely irreversible, right?"

At around 2:43, at this moment, in the magic capital, inside the Yinghui Fund Company, in the 'Yinghui No. 1' fund product trading room, Yu Lei, the head of the fund trading team, stared at the two markets, sighed helplessly, and said: "It's all good, I really didn't expect it...... Today the market will go like this. ”

At this moment, the Shanghai Composite Index and the A50 Index are about to swallow up all the gains of the day.

The Shenzhen Index and the GEM Index have fallen underwater, from a sharp opening in the morning to a state of decline at the moment.

Hearing Yu Lei's emotional voice, Liu Guanhai, the fund manager on the side, also said helplessly: "Although I thought that today's market trend would be very different, I didn't expect it...... It will be so big that the securities sector with a turnover of 180 billion yuan, the banking sector with a turnover of nearly 100 billion yuan, and the building decoration and building materials sector with a turnover of tens of billions of yuan, today's "big finance" and "big infrastructure" The chip structure of the two core main areas is completely loosened. ”

"It's not just the two core main areas of 'big finance' and 'big infrastructure'." Yu Lei said, "The chips in the main line of the 'national defense and military industry' industry sector have loosened more favorably, and the 'film and television media' sector has also shown obvious signs of loosening its internal chips." ”

"It seems that it is not only the short-term profit-taking order, but also the unhedging order in the closing position and taking profit." Liu Guanhai pondered for a moment and said, "A lot of funds that may not make much money are also quickly escaping from the popular mainline sectors of 'big finance', 'big infrastructure', and 'military industry'." ”

Yu Lei nodded and said: "Based on the analysis of the trend of the two cities, the adjustment of the market should be inevitable, we ...... At this moment, you should take advantage of the high liquidity of the market and take the initiative to reduce your position! ”

Now that there has been an obvious big divergence in the market, many stocks have also shown signs of short-term peaking.

Then, Yu Lei feels that it is time to follow the market trend and further make trading adjustment strategies.

Liu Guanhai continued to observe the market trend for a minute or two, and said: "Less, too many funds in the two cities have fled at a high level today, and the extent of the subsequent market adjustment should not be small." ”

Yu Lei nodded, and while giving the trading group behind him a trading instruction to quickly reduce positions, he said: "I also estimate that the next market adjustment will not be small, after all, according to today's market performance, many of the 'Yuhang system' heavy mainline weight stocks have a very serious long and short divergence today, I seriously doubt it...... In today's market trend, the core main capital of the 'Yuhang system' is obviously reducing its position. ”

Hearing Yu Lei's words, Liu Guanhai put his eyes on the two cities' Yuhang system position concept' sector field, only to see this sector index, today's performance is indeed very bad, the corresponding stocks are basically all from the morning of the sharp high opening trend, into a flat shock, or a slight downward trend, basically the disk amplitude of each stock, there is no less than 5%.

"The main capital of the 'Yuhang Department' is indeed likely to reduce positions on a large scale today." Liu Guanhai said, "However, this share of funds, in this position, at this time, large-scale reduction and profit-taking, is also understandable, after all, this main fund, has made a lot of money, plus this main fund, at this juncture at the end of the year, there is a strong demand for profit-taking, as well as net value settlement demand." ”

"In that case, then we can't hesitate." Yu Lei said, "Once the main capital of the 'Yuhang system' is reduced on a large scale, its trading seats will appear on the list of dragons and tigers in the two cities, which will have a serious impact on the market trend of the entire market and the sentiment of all investors." ”

Saying that, Yu Lei didn't wait for Liu Guanhai to continue to command.

He continued to turn around and emphasized to the members of the trading team behind him: "While the market has not yet closed, large-scale position reduction and profit-taking, as long as the stocks we hold still have sufficient liquidity, then sell as much as we want." ”

The overall volume of their fund products is not large.

In addition, they have gradually reduced some of their positions before.

With the current liquidity of the two markets, even if there are about 15 minutes left in the market's trading hours, it is basically possible to quickly reduce the position to 30% or 40% of the position.

The traders in the trading group responded quickly.

Subsequently, the crackling keyboard sound began to sound quickly in the trading room, and with the sound of the keyboard, tens of millions and hundreds of millions of funds were sold and poured into the two markets.

And almost at the same time.

It's in the 'Yinghui No. 2' fund product trading room next door.

Fund manager Shao Xiaoyun saw that the two markets were accelerating their decline at the end of the market, although he had realized some bad things in his heart, but he did not think about quickly reducing his position and taking profit and reducing his fund position at the first time.

"Mr. Shao, the trend of the market is ...... There are already some problems. At about 2:47, seeing that the end of the two cities fell rapidly, and at the same time, the amount of energy was expanding rapidly, Liu Changling, as the head of the fund trading team, frowned instantly, and hurriedly said, "We must reduce our positions, how much can we reduce, how much can we reduce, under this trend, tomorrow's market trend will inevitably be greatly adjusted, and the possibility of a sharp decline is not ruled out." ”

Shao Xiaoyun said: "I also know that there are already some problems with the current market trend, but at this time, there is basically no good price for the main seller, and besides, ...... Didn't we talk about it before? Even though there may be a drastic short-term correction in the market, in the medium and long term, the bull market logic of the market has not been broken, since this is the case...... If you have missed the right selling point, you can only continue to hold on and wait for the short-term market correction to end. ”

"No, this time is different." Liu Changling waited carefully for the changes in the two markets, and realized that the next market adjustment was very likely to be more intense than he had expected, and couldn't help but say, "If there is no accident, today's 'Yuhang Department' this share of funds should be in a large-scale smashing and take-profit exit, once this capital is fully profit-taking, the next adjustment of the market will not be mild." ”

Shao Xiaoyun said with a slight surprise: "Do you think that the funds of the 'Yuhang Department' have withdrawn from the comprehensive profit-taking?" ”

Liu Changling nodded and said: "It won't be wrong, otherwise there won't be such a large amount of energy in the market today, and it will be almost 1.1 trillion in volume, which is 100 billion faster than yesterday's enlargement. ”

"If the funds of the 'Yuhang Department' begin to fully take profit and withdraw...... That's bad. Shao Xiaoyun heard Liu Changling's explanation, and his heart instantly began to panic, and he hurriedly said, "Hurry, hurry...... Take advantage of the fact that the market has not yet closed, try your best to reduce your position and take profit, and how much you can sell. ”

Liu Changling couldn't help but breathe a sigh of relief when he saw that Shao Xiaoyun had finally figured it out, and without waiting for Shao Xiaoyun to give other instructions, he quickly ordered the trading team behind him to desperately cut positions and take profits, and even took advantage of many popular stocks and sufficient liquidity to directly hang down and sell.

As more and more asset management institutions in the industry are becoming aware of market divergences and risks.

Due to the increasing number of funds held in the market, a liquidation sale began.

In the last ten minutes of trading in the two markets, the market began to show a unilateral and rapid downward trend with the bears fully suppressed, resulting in the close of the market at 3 o'clock in the afternoon.

The Shanghai Composite Index, Shenzhen Index, ChiNext Index, Small and Medium-sized Board Index, and A50 Index closed down across the board. (End of chapter)