Author: Ru Meng Ruhua

PS: This chapter is 5K, today is 8K, your body has recovered a little, and you can slowly replenish it.

The end of the Spring Festival holiday means various separations; children have to leave their parents, husbands have to leave their wives; workers have to set out on the drive away from their hometown again.

As one of the most popular people to attend the job, Junshi Capital’s employment rate was as high as 90% on February 25, the seventh day of the first lunar month, and the employment rate was quite low.

In order to get everyone to work on time, the Administrative Department has designed a way to open a red envelope. In addition to reimbursing the fare, the personnel who arrive on time also have a one-thousand-yuan red envelope.

Except for the fact that I really had something to do at home, everyone arrived on time.

Just like in previous years, on the first trading day of the seventh day of the first lunar month, retail investors were still immersed in the New Year, and most industries have not yet officially started working; the trading volume of Shanghai and Shenzhen stock markets is sluggish, and the three major indexes fluctuate greatly throughout the day.

Gu Junhao, who works today, also has little attention to the transaction itself. His main energy is on the performance of the peripheral market during the holidays and some policy news.

This morning, Gu Junhao noticed that the Financial Times, which the central bank put down, published two articles in a row yesterday and today; the article pointed out that monetary policy should maintain moderate liquidity.

In the next stage, in order to cope with the possibility of deflation, the central bank will make timely and moderate adjustments to traditional monetary tools such as statutory reserve ratios and benchmark interest rates to maintain moderate liquidity.

As a financial media directly under the central bank's direct control, this remark has also been interpreted by the market as a pre-trial of interest rate cuts and reserve requirement ratio cuts in the later period, which has enhanced the expectation of monetary policy continuing to be loose in the future.

The rise and fall of stock prices are directly related to the amount of currency circulating in the market. No matter what kind of future speculation is, the expectations are required; what is required is the ability to promote funds.

As the central bank may continue to maintain large-scale monetary easing policies and temporary control of the European debt crisis, loose liquidity is undoubtedly a big benefit for the stock market, especially the blue chip sector.

In the external market, the Dow Jones Industrial Average continued to hit new highs, while the S&P and Nasdaq fell slightly, and their overall performance was relatively stable, which had a relatively small impact on A-shares.

The February PMI index released today is also better than market expectations, hitting a new high in four months, and the manufacturing industry has also improved slightly.

A series of factors, coupled with the stabilization of the financial sector, the market entered a moderate recovery period after the second bottoming out, and was still in an upward trend overall.

Data and policies reflect the management's care for the stock market. From this point of view, administrators really hope to create a slow bull market like the US stock market.

No matter how the performance of the Shanghai and Shenzhen stock markets on the first day after the holiday, it cannot change the volatile upward pattern. Before the trading volume increases, the trend of the two markets will still be moderate.

The trading volume was sluggish and retail investors were not actively involved. On the first day after the holiday, the Shanghai and Shenzhen stock markets ended with a small decline and closed negative. Tonghuashun also had a sluggish trading today. The stock price opened low and closed low throughout the day, with a decline of up to 7.76%.

On the last trading day before the festival, the amplitude of the Tonghuashing once exceeded 12%, and the stock price rose to 92.68 yuan at the highest, closing at 91.81 yuan at the end of the trading day. Today's sharp drop once again pulled the stock price back to 84.69 yuan.

With a stock price of nearly 100 yuan, retail investors are no longer able to be enthusiastic about it. Judging from Tonghuashun and some GEM stocks including Dongfang Fortune, they have been addicted to high bonus and transfers in recent years.

As expected, the stock price has been pushed up to Tonghuashun, which is around 100 yuan. After this annual report comes out, it will again perform high bonus and transfers as last year, thereby lowering the stock price and speculating again.

Judging from the stock conversion and dividend time of Tonghuashun in previous years, it is basically concentrated in this stage at the end of April and mid-May. If nothing unexpected happens this year, it should be during this period.

"It seems that this round of speculation should continue at the end of April and early May, which can basically be considered before the end of the bull market. After the stock conversion, the stock price was just lowered so that retail investors could take over."

After this analysis, Gu Junhao admired the main funds in these markets very much. The stock market crash came around mid-June. By speculating on the previously expected stock conversion, Tonghuashun's stock price still has about one month of shipment time, which basically leaves retail investors at the highest position.

The more popular the high bonus and transfers in recent years, the greater the expectation of Tonghuashun’s bonus and transfers. Dongfang Fortune, which has a stock price of only more than 40 yuan, has announced a high bonus and transfer plan. The expectation of Tonghuashun’s bonus and transfers is still very high.

As Tonghuashun's main fund on the market, he certainly didn't know about the stock market crash in June, but the risks under such large-scale leveraged funds are definitely a little known. Whether it can escape before the stock market crash in June is also a high probability event.

As May and June enter how crazy the A-share market is, I believe that investors who have experienced the stock market in 2015 know this. There is no problem with shipment. Any kind of junk stocks is speculated, not to mention stocks like Tonghuashun.

The sense of smell of large funds will always be far higher than that of ordinary investors, and from the holiday to today, the signals sent by the central bank will be used by some large funds again.

In a sense, the Shanghai and Shenzhen stock markets, which both fell today, can also be seen as the opening of a round of market washing before the New Year. Only in this market washing process can the main funds collect more chips and reduce costs through band-based operations.

Today is the 25th. Due to only 28 days in February and the holidays, the real trading day is only fifteen trading days. After today's trading ends, there are only two trading days in February.

On Thursday, February 26, both Shanghai and Shenzhen stock markets opened low, while the ChiNext opened low at 1875.33 points. After the trading officially began, the performance of the weight sector was still sluggish, and the theme stocks were active.

After the opening of the NT$100 million, the Chinese-headed sector performed sluggishly. The securities sector, which has had a good rebound recently, has maintained a low fluctuation mode this morning after the adjustments before and after the Spring Festival.

After the ChiNext Index opened low, it rose rapidly. At 10 o'clock, the increase once exceeded 0.7%. The stock index came near 1891 o'clock and launched another impact towards 1900 o'clock.

At the same time, Zhongguo CSR, which has not yet been renamed, once dropped by more than 6%, and the decline of CNR in the same period of time also reached the same number; as the recent weather vane of the Chinese character head, CNR has affected the trend of the entire Chinese character head.

In the past few trading days, the CRRC fell, and the Chinese stocks with Chinese characters would follow up without any brainstorming. However, today, some other Chinese stocks such as Zhongguo Communications Construction and Zhongguo Yizhong have not followed the trend of CRRC.

"Huh? Other stocks with Chinese characters won't follow you anymore, and the brokerage firms haven't fallen anyway. It seems that they have a tendency to stop the decline." Gu Junhao said to Wu Peng with a smile. Wu Peng just reported the abnormal movements of Chinese characters.

Zhongguo Communications Construction, when CRRC quickly fell by nearly 6%, only fell less than 1%. The stock price remained at the closing price before 12 yuan before the festival, reaching a minimum of 12.05 yuan. At this time, the stock price remained at around 12.10 yuan.

Today, it is also the first time Gu Junhao has appeared in the trading room after the New Year; not only the company’s employees, Gu Junhao himself did not get into work yesterday. He was a human being in his two lives, and Gu Junhao has not yet gone through the seventh day of the lunar month.

When I was working at Deye Technology, factory-type companies usually only went to work after the eighth day of the lunar month or even after the tenth day of the lunar month; some workshop employees with longer distances even had to go to work after the Lantern Festival.

Ordinary industrial workers have high work intensity, low salary income, and insufficient rest during the daily life. They are a bit hopeful for a holiday during the Chinese New Year. This is also one of the reasons why freshmen would rather deliver takeout food and go to express delivery than enter the factory.

"Yes, other stocks in the Chinese-head sector will not follow, and the big financial sector is still relatively stable. I feel that the weight will stop falling." Wu Peng also followed Gu Junhao's words.

"But the incremental capital is still limited. With the weight rebound, small and medium-sized entrepreneurs may fall again." Cao Wenxun also reminded that today's trading volume is still in a small volume.

"Yes, there are this risk. There are only a few days to trade after the New Year. Many people have not yet finished their annual leave. Most of them are on-site funds. The probability of weight rising with small and medium-sized entrepreneurs is definitely not high." Gu Junhao nodded and said.

With the full integration of the two senior traders into the team, the past fewer and fewer cases of relying on Gu Junhao to personally grasp the abnormal movements during the trading session. Even if Gu Junhao appears in the trading room, it will be much easier to keep a watch.

At 10:15, Zhongguo Communications Construction, which fluctuated around the 12.10 yuan price, had abnormal movements. The trading volume began to gradually increase and entered 10:19. The CCB hit the bottom and rebounded, and Zhongguo Communications Construction also rose rapidly in the same period.

"There is an abnormal movement, the weighted stocks in the Chinese characters are collectively rising, and the securities sector is not bad, and it has reached the yellow moving average." Gu Junhao said to everyone.

By the way, Gu Junhao took a look at the trends of the ChiNext Index and ChiNext Index. If nothing unexpected happens, the heavyweight stocks began to fall at the moment of abnormal movement, and the Shanghai and Shenzhen stock markets once again entered a strange market.

Five minutes later, Zhongguo Jiaotong-China Securities Investment Corporation was the first to turn red, with its stock price reaching 12.42 yuan, up 0.73%. The decline of CRRC also pulled back within 2%, and it was still the fastest-rising one; for short-term large funds, they still prefer stocks like CRRC with higher expectations, which are more certain.

At 10:30, CRRC turned red again, Zhongguo Communications Construction rose by nearly 2%, and Zhongguo Yiheung also rose by more than 1% during the same period. The securities sector remained at a narrow range near the flat spot and fluctuated up and down, and the decline of the Shanghai Composite Index shrunk to within 0.5%.

The ChiNext Index has plunged from above 1891 points to around 1879 points; at 10:50, the securities sector turned red, the Shanghai Composite Index successfully turned red, while the diving of the ChiNext Index is still continuing, and the stock index fell to near the flat spot.

In less than an hour, the Shanghai and Shenzhen stock markets without a significant incremental amount of funds will start to switch due to changes in the game between funds on the market.

The heavyweight stocks led by the Chinese character "bounce" rebounded well, among which Zhongguo Communications Construction performed exceptionally well. By 11 o'clock, Zhongguo Communications Construction's stock price exceeded 13 yuan, at 12.12 yuan, and the stock price rose by 6.41%, surpassing the North and South God Cars for a while.

At 11 o'clock, the securities sector, which successfully turned red, began to make efforts. Greece Securities, which had the highest increase before the year, once again became the vanguard of the rebound. The stock price rose rapidly. At 11:15, Greece Securities rose by more than 4%, and the stock price was 35.18 yuan.

The excellent performance of Zhongguo Communications Construction hit the daily limit at 11:15. After 10 minutes of fluctuation, at 11:25, the trading volume of 266 million funds once again raised Zhongguo Communications Construction's stock price to the daily limit.

At the same time, a large amount of funds were released, and the stock price was successfully locked at the daily limit. At the close of the morning, Zhongguo Communications Construction's stock price was 13.56 yuan, up 9.98%, and the morning trading volume exceeded 1.2 billion yuan.

Greece Securities, which had a sudden rise in movement, closed at 36.80 yuan at midday, and its stock price rose 9%; in the last few minutes before the closing in the morning, Greece Securities also briefly hit the daily limit, performing amazingly.

During this period, small and medium-sized entrepreneurs continued to dive as their styles switched. At midday, the ChiNext Index fell 10.6%, and the day dive was close to 2%; Tonghuashun plunged more than 4% during this period, and the stock price closed at 84.09 yuan, falling 4.83% again after yesterday.

For Yin Zhijie, who had hit two consecutive daily limits before the New Year, after creating the highest price of 99.90 yuan yesterday, it began to plunge sharply throughout the day; at midday closing today, the market also fell by 5.38% again, and the stock price has fallen to 83.40 yuan.

Yin Zhijie's stock price is as high as that, if nothing unexpected happens, it will implement a high bonus and transfer plan like Dongfang Fortune. These three GEM stocks have implemented excessive bonus and transfer plan last year, and I believe this year will be no exception.

Regarding the high bonus and transfers in recent years, major listed companies can be said to be unscrupulous, and the market speculation is too crazy, which also led to this concept being once close to being banned by the regulatory authorities.

However, for some high-quality stocks, after the bonus and transfer, there is still some room for filling out rights when the equity capital is still not high. As for how to distinguish them, it varies from person to person.

In the bad market, focus on some bonus and transfer stocks with excellent performance. After they set a second new low, they can also slowly rebound and fill in the rights process to obtain a certain profit.

In the afternoon trading, the market continued to rebound. Zhongguo Communications Construction opened briefly during afternoon trading, but it still reported a daily limit price throughout the day, and the closing price was relatively strong.

The stock price of Greece Securities has been fluctuating at a high of more than 8% in the afternoon. By 14:15 pm, the stock price also successfully hit the daily limit, reaching 37.14 yuan. The securities companies that hit the daily limit today are basically concentrated among small securities companies.

The current increase of large securities companies such as Yellow River Securities remains at around 5%. As for why they are small securities companies led by Greece Securities, in Gu Junhao's view, it is still because of the insufficient off-market incremental funds.

If there is no large amount of incremental funds, if you want to drive sector sentiment, you can only pull some stocks with relatively small shares in the same sector with high popularity in the early stage and relatively light market.

The style switch did not lead to the decline of the GEM. In the afternoon trading, the GEM index fell to 1847.73 points, and began to rebound rapidly when it fell by more than 1.5%. At 13:30, the decline of the GEM had narrowed to 0.66%.

Yin Zhijie and Tonghuashun, who were killed sharply in the morning, also quickly pulled up during the same period of time, and Yin Zhijie became popular for a while.

"It seems that in the short term, the funds on the market do not intend to give up small and medium-sized startups. Today, the greater possibility of this drop is the effect of shocking the position." Gu Junhao said with a smile.

Judging from the current trend of the six-line growth of the ChiNext, which is accelerating the rise, it would be impossible to fall below the weekly five-day line again, that is, the 1800 point position, at least before June.

"Maybe, today is the bottom area of ​​the ChiNext after the Spring Festival. At most, it will be a second bottoming out." Gu Junhao stared at the ChiNext index that was pulling up quickly, switched to the mouse and analyzed his trend.

Strong stocks such as Tonghuashun and Yin Zhijie also began to rebound after a trading day and a half. The refusal of a sharp pullback is also a manifestation of the still strong small and medium-sized entrepreneurs.

The afternoon rebound of the ChiNext continued until the end of the trading session; throughout the day, the Shanghai Composite Index benefited from the weighted rebound, and the stock index closed at 3298.36 points, breaking through 3300 points was a matter of time.

However, the performance of the GEM is also not inferior to the Shanghai Composite Index. In the afternoon, the ChiNext Index rebounded by nearly 2%, and the index finally achieved a 0.19% increase. With a red cross star, the ChiNext completed the intraday adjustment.

On Friday, the last trading day of this month, the styles of the Shanghai and Shenzhen stock markets once again switched to the small and medium-sized entrepreneurial sector.

The financial and Chinese-first sectors that rose sharply yesterday slowed down their rise today. On-site game funds once again launched attacks on small and medium-sized entrepreneurial themes. Secondary new stocks became the leading sectors for the rebound, and environmental protection stocks also moved abnormally today.

Although the Shanghai Composite Index, which rose sharply yesterday, has slowed down today, it is still relatively easy to break through the 3300 point; and the performance of the ChiNext Index is also excellent. The ChiNext Index, which opened high and closed high, easily broke through the 1900 point at 10:30.

After the Spring Festival, in addition to the bleak trading on the first trading day, as ordinary investors officially started working and gradually joined the trading, the trading of the two markets yesterday and today has gradually become active.

Posts in major stock trading areas have also begun to increase. The whole day trading ended, the Shanghai Composite Index rose 0.36%, and the stock index closed at 3310.30 points. During the three-day trading, the Shanghai Composite Index rose 1.95%. The recovery of the securities sector gave investors in the two markets hope to re-enter the market.

The ChiNext Index fluctuated upward today, showing a bald, mid-yang trend, rising 2.53% during the day, and the stock index closed at 1928.04 points. The ChiNext Index continued to set a record high with a 1.78% increase in three days.

After today's trading ended, the February trading ended since then. After two days of surprise attacks in Shanghai and Shenzhen, while most ordinary investments are still in the New Year, both markets achieved index breakthroughs.

With one turn, retail investors once again lag behind the trend.

(End of this chapter)
Chapter completed!