Chapter 393: The desire is hard to fill

As they talked, they talked about the current stock market.

"It's falling miserably again-" Sang Mingda said.

The current stock market index has fallen below the annual line, and many people are speculating whether it will become a replica of 1994 in the next few years?

In the past few days, many stock commentators have said that after falling below the annual line, it will only fall to 700 points from the neck line. After the a wave, it will be the most terrifying wave of c and the like, such as the coming of the bear.

Sang Mingda has been paying more attention to financial information recently, so he occasionally sees some stock review columns and knows that the market is falling very hard now, so when talking to Chen Mingluo, he will inevitably give a few words.

"Well, the decline is already very strong-" Chen Mingluo nodded and replied, "But that's all that should be here. After all, if it falls again, no one will have a good harvest."

Sure enough, the news changed early the next morning.

The government has rescued the market, and several major securities newspapers have also published the central government's remarks about caring for the stock market and developing the stock market. Stock analysts have also changed their minds and said that the domestic stock market will not collapse.

Chen Mingluo was very funny about this remark. He thought that after a continuous decline, a 20% decline was not considered a collapse. You should know that Wall Street's historic collapse was only 9%. If this was put into China, it would not even be a small decline.

In the morning, the market began to rebound, but the amplitude was not large, it only rebounded slightly, and the market rose by one percent, but from the overall market, there was no improvement, just like a stagnant water, floating at a low level, neither buying nor popular, and the large-cap stocks that Yang Jier bought had no reaction.

This made Yang Jier feel a little discouraged, thinking that Chen Mingluo is not omnipotent, the government has rescued the market, and the three major newspapers have also expressed their desire to protect the stock market and develop the stock market. Why is this stock market even though it is easy to rise?

"Did you make a wrong judgment?" Yang Jier asked Chen Mingluo, "The policy has changed. Why is the stock market not responding at all? Will I be deeply trapped this time?"

"Don't be impatient." Chen Mingluo looked at the market and responded lightly.

The situation at this time is clearer, and the market may strike back at any time.

Sure enough, as the market approached the closing at noon, the market finally rose back to three percentage points.

Yang Ji'er calculated with her fingers. She had already made a small profit. This made her feel much more at ease. Although she lost more than one million yuan before, after the later investment of hundreds of millions of funds, the loss was really drizzling.

When the market opened in the afternoon, the real rebound finally arrived. Several large-cap stocks that Yang Jier intervened rose by about seven or eight percentage points, with a rainbow momentum.

At the last moment, although the market did not hit the daily limit, several large-cap stocks basically reached the increase limit, and spoke steadily with trading volume and pressed on the highest price. Although there were a small number of sell orders at this time, it was rare and there was no more storm.

After such a big turn, Yang Jier felt a little sad. She suddenly remembered the big man who jumped off the building at the end of last year. At that time, his blood dyed the snow outside the trading hall red.

At this moment, Yang Ji'er could truly feel the pain he felt at that time.

At this moment, Yang Jier suddenly felt that the numbers in her account were not simple symbols, but banknotes dyed red with blood.

However, some people are happy and some are worried. A retail investor next to him made a wrong judgment and cleared his position yesterday. As a result, this time, not only did the 20,000 yuan profit earned by hard-working in the bull market, but also added more than 40,000 yuan loss.

Not only did he make a mistake in full position before the plunge, but he also made a mistake in closing the position after the plunge. There is a saying in the stock market that he is slapped from both sides, which is about people like him.

This reminded Chen Mingluo of the sharp drop at the end of last year. It is said that Junan, the only one among the securities companies, was short and the market did not fall, so they could not get the goods. So they were very anxious and broke the annual line with a huge amount at the key point that day.

As soon as the pattern was destroyed, it immediately triggered a large number of technical personnel to ship goods, which in turn caused the majority of retail investors to flee in a hurry, and eventually triggered a panic collapse.

He vaguely remembered that after the plunge of the Nasdaq in the United States, the winner of the Nobel Prize, the head of a fund, admitted the compensation and shipped the goods at 3,300 points. After liquidating the fund company, the Nasdaq rebounded sharply. The situation at that time was very subtle. In fact, what they made were the same mistake, that is, after the plunge, their emotions completely collapsed, they lost confidence in the market, and themselves, and finally put the goods on the floor.

Immediately afterwards, the stock market ushered in a recovery period of several days. The index rose relatively quickly, but the individual stocks did not rise very much. Fortunately, Yang Jier's timing for purchases was very good, so she also made a profit of more than ten percent, which was a good return.

After all, this kind of short-term speculation with small risks, high returns and not much time is still very cost-effective. After Yang Jier shorted her position, she decided to study the recent operations carefully to see if she could draw any conclusions different from stock analysts.

Chen Mingluo didn't say anything else, but just emphasized one thing, "When the stock market suddenly plummeted, for us ordinary retail investors, the best action is not to move anything, wait quietly, wait for the clarity of the news, wait for the government's actions, and wait for the stock market to rebound."

Yang Jier also has some opinions on this. After careful consideration, Yang Jier felt that Chen Mingluo's words were worth learning from.

She also analyzed the previous big drops and found that the biggest loss was the regular customers who thought they were stock gods. On the contrary, those retail investors who were not very familiar with the stock market and who were slow to operate were basically able to keep their old capital.

"In fact, this question is not contradictory-" Chen Mingluo explained, "Because of blindness, it is easy to get caught. Only by calming down can you observe the operation methods of the dealers and restore your original assets."

Yang Jier also felt a little relieved. She entered the stock market for about one and a half years. In this year and a half, the market entered a long bear market from a bull market, falling, rebounding, and falling again. Many investors were deeply involved. The securities business department was empty, and some brokerages stopped their actions due to losses. The financial crisis in Southeast Asia gradually affected Hong Kong, and institutions began to sell large quantities, pushing the market to the brink of despair.

There is an empty atmosphere everywhere, and there are even rumors that the securities analyst of a certain brokerage firm slapped the table and said that the securities market is negative in the short term, negative in the medium term, negative in the long term or negative in the long term!

During this year and a half, Yang Jier has tasted the taste of being fooled by the dealer from the beginning. She has been used to being a retail investor for a long time and has awe for securities companies.

Seeing them making trouble on the market, with fierce techniques, I really want to transform myself into a member of the securities firm, learn their way of thinking, understand their trading language, and no longer easily foolish dealers in the future, and no longer be foolish retail investors.

But now, since we met Chen Mingluo, Yang Jier has felt that she is in a state of great qualities.

Starting from a capital of tens of thousands of yuan, I actually owned hundreds of millions of assets in just over a year. It can be said that it is a miracle wherever I put it.

Of course, the reason why such a large profit is also closely related to the instability of the domestic stock market. Before the daily limit was launched, short-term speculation made money very quickly. But now, although the dealer is still fierce, the degree of jumping up and down has been eased after all, and it is much more difficult to make a profit.

"In many cases, the stock market is caused by an occasional incident, which leads to a situation where even institutions and dealers cannot grasp it." Chen Mingluo said to Yang Jier. "It is not easy to gather popularity, but after popularity gathers, it is difficult to control it. This is the most difficult thing for the securities market supervision team to grasp. Sometimes everyone scolds the management team. In fact, whether the management team should scold it is still between the two."

Simply put, in the face of a sharp drop in the stock market, it is difficult to judge whether policies should save the market.

Theoretically, it is clear what regulators should and should not be managed.

Generally speaking, regulators should be in charge of illegal and irregular behaviors in the stock market, but they should not be in charge of the high and low of the stock index, because the high and low of the stock index have their own operating rules and there is no need to intervene too much.

But on the other hand, the domestic securities market has not been established for a long time, has very imperfect development, and is inherently deficient, and there are still many problems in the development process. In this case, every step of the development of the securities market may require policy guidance.

In fact, even in the mature capital market, there are policies to save the market.

Chen Mingluo remembers that the most typical example is that after the 9/11 incident in the United States, in order to prevent a panic collapse, the US Securities and Exchange Commission announced an emergency closing of four days, while the Federal Reserve injected more than 100 billion US dollars into the market within four days to ensure liquidity in the financial market. These measures prompted the stock market to return to normal track in a short period of time.

As for the decline in the Shanghai and Shenzhen stock markets this time, there is indeed a factor of value return after over-speculation.

Although the stock market is a barometer of the economy and its ups and downs are normal, it is certainly necessary to ease the pressure on the market through appropriate policy arrangements to achieve a smooth market transition for some occasional factors that may cause excessive market imbalance in the short term.

After all, in the long run, the relationship between policies and the market should be appropriately relaxed control measures, further promote market-oriented reforms, allow the market mechanism to truly play a role, and provide every investor with a fair, just and transparent market environment.

"Of course, in the ups and downs of the stock market, a large number of individual investors who like to chase ups and downs have undoubtedly played a role in fueling the fire." Chen Mingluo said, "Statistics show that by now, the number of A-share accounts has exceeded 20 million. The bull market over the past year has brought a large number of new investors entering the market. Most new investors have not experienced a bear market and lack sufficient understanding of stock market risks. They continue to enter the stock market under the attraction of the money-making effect. Once the market turns, these investors who lack risk tolerance will flow out in large quantities. It is precisely because of the rapid increase in the number of account openings that the uncertainty factors in the market have increased, and the market risks have become larger, and the situation is becoming less and less difficult to control."

"The recent hype has really made me feel a little scared." Yang Jier has received risk education this time and said to Chen Mingluo. "Although it seems like a digital game, the losses are real RMB. If the psychological endurance is a little bit weak, it is really hard to survive. It turns out that the investors who jumped off the building looked down on them a little at the beginning, but now after thinking about it, I realize that the pressure they are under is greater."

Chen Mingluo nodded, thinking that most of those people are playing with public funds. Once they lose money, the amount is quite amazing and they can't fill the big hole at all. There is really no other way out except suicide.

After the two walked out of the stock trading hall, they saw a red sun hanging high, and it was still early, but it was just over 2 noon. In Yangshuo in September, the temperature was still relatively high and the weather was relatively stuffy, which made both of them unable to get much interest.

Yang Jier suddenly asked, "Why don't I feel so happy even if I make money now?"

"Because there is an adaptability problem here." Chen Mingluo replied with a smile, "Just like the fisherman's wife, I was very happy at the beginning with a small wooden basin, but later, as the things her husband brought back for her became more and more valuable, her appetite became bigger and bigger, and she finally wanted to be a queen. Speaking of which, she was still the same person, but her mind was very different. Can you say why this is for? No matter what, I don't believe that the old woman would have the intention to be a queen at the beginning."

Yang Jier nodded, thinking that Chen Mingluo's metaphor was very good, but after thinking about it, he always felt something was wrong. Finally, he said shyly, "Oh, Chen Mingluo, you actually said you are like the fisherman's wife, you are insatiable! Are you itchy again?!"

"Haha, it's wrong for you to think so--" Chen Mingluo laughed, "I have never said that you have any connection with the fisherman's wife. If you have to think so, I can't stop you, but to say that, it has nothing to do with me!"

Yang Ji'er came around the car to chase Chen Mingluo. He wanted to beat him a few times. Chen Mingluo was flexible and hid and ran away. The two of them chased after a long time, but they had sweated all over.
Chapter completed!