Rebirth of the Capital Legend

Then, at 9:31, the share price of 'Huawen Online' hit the daily limit after a trading volume of 13 shares in just one minute. At the same time, the share price of 'Huaxin Cement' had fallen back to around 1%, and the trading volume also showed an amplifying trend.

Because 'Huawen Online' exploded in volume within one minute of opening, it quickly hit the daily limit again.

Originally, during the call auction phase, there were certain differences between long and short positions, and in the main area of ​​'emerging industrial chain' there were signs that a part of the profit-making funds were dumping the market to lock in profits. A number of popular concept stocks and trend-following concept stocks were also driven in an instant and rebounded rapidly.

The main line of "big infrastructure", which had shown signs of active buying during the call auction and performed beyond expectations, as well as related hot concept stocks and a number of heavyweight stocks in the industry, are now following the dive of "Huaxin Cement" and are also falling.

At the same time, due to the changes in the trends of these two core market lines.

Several core market indexes also underwent drastic changes at this moment.

The Shanghai Composite Index quickly fell back to the flat line from a slightly higher opening, while the ChiNext Index, after opening slightly higher, briefly fell back to the flat line, and then quickly rose again. The market gains expanded rapidly, and the SME Index and the CSI 500 Index, which had a strong correlation with it, also followed the ChiNext Index and rebounded rapidly upward at the moment of opening.

At 9:32, 'Huawen Online', the leading stock that once again hit the daily limit, experienced a one-minute surge in volume, and then the volume began to gradually decrease as the number of orders increased sharply.

At the same time, 'Huaxin Cement' continued to fall back to the flat position.

Moreover, as 'Huawen Online' completely hit the daily limit, with the daily limit orders reaching more than 20 lots within one minute, the follower stock 'Huawen Media' was also concerned by a large number of active buying funds. Under the influence of a large number of active buying orders, the stock price continued to rise, reaching a 7% increase.

At 9:33, the daily limit orders of "Huawen Online" reached more than 30 lots, and the trading volume had completely shrunk.

At the same time, the price of "Chinese Media" increased by nearly 8%, and it seems to be about to hit the daily limit.

At the same time, a number of core component stocks of the ChiNext Index, including 'QuanTong Education', 'Netspeed Technology', 'LeTV', etc., also rebounded rapidly, with the market increase reaching 3%.

At 9:34, several major industry sectors, including film and television media, Internet software, and Internet applications, also continued to rise, once again leading the two markets.

At 9:35, the 'Film and Television Media' industry sector index rose by 2.13%.

At 9:36, a number of concept-themed sectors such as "online education", "domestic software", and "Internet finance" continued to lead the market, and the growth rates of the relevant concept sector indices exceeded 2%.

At 9:37, the ChiNext Index rose by 1%, continuing to break upward.

At 9:38, the decline of "Huaxin Cement" widened to 2%, and the core leading stock of "Oriental Yuhong", the main line of large infrastructure, also showed an increasingly weak trend at this moment, and had fallen back from a slightly higher opening to a decline of nearly 1%.

At 9:39, the Shanghai Composite Index continued to weaken, with a drop of 0.24%.

At 9:40, the intraday increase of the ChiNext Index reached 1.2%. The main hot spots of the market are still concentrated in the industry sectors and concept sectors of the main line of "emerging industrial chain".

At 9:41, the stock of "Chinese Media" hit the daily limit.

At 9:42, the stock price of 'QuanTong Education' rose by 5% on the day. At the same time, the stock price of 'LeTV' also reached a 4% increase, continuing to set a recent high.

At 9:43, the main market weighted sectors, liquor, white goods, medicine, consumption, electricity, and financial sectors, all fell into a small adjustment with reduced volume. After the disagreement in the call auction stage, a large number of active short-term capital groups in the market continued to choose to speculate around the main theme of "emerging industrial chain."

At 9:44, the intraday decline of 'Qianzhou Moutai' reached 1%. Although its stock price continued to fall after the market officially opened, its trading volume showed a continuous shrinking trend compared with yesterday.

At 9:45, the price of 'Chinese Media' hit the daily limit.

At 9:46, the 'Film and Television Media' industry sector index rose 2.55% on the day, and among the component stocks within the sector, more than 6 stocks had risen by more than 7%.

At 9:47, LeTV's intraday gains continued to expand to 5%, setting a new high for the market and a recent high.

At 9:48, a large number of short-term active capital groups, unable to buy the two core leading stocks "Huawen Online" and "Huawen Media", began to look for low-priced concept stocks in the film and television media sector, or related component stocks of the "online education" concept sector, and concentrated on speculation.

At 9:49, the 'Film and Television Media' industry sector index reached a 2.87% increase.

At 9:50, while the Shanghai and Shenzhen Composite Indexes maintained a trend of small adjustments with shrinking volume, the ChiNext Index's intraday increase reached 1.29%.

At 9:51, as the short-term speculation sentiment in the market continued to remain hot, the "Internet finance" sector exploded again, and a number of stocks such as "Tonghuashun", "Eastern Fortune", "Yinzhijie", "Dazhihui", "Jinzheng Shares", etc., all moved up.

At 9:52, driven by the 'Internet Finance' concept sector, several brokerage stocks with relatively small circulations in the 'Securities' sector showed slight movements, but the buying volume was not sufficient for this movement.

At 9:53, the stock price of "Eastern Fortune" rose by 3.5%, significantly outperforming the ChiNext Index.

At 9:54, the securities stocks, which had once shown a slight fluctuation, fell back after a brief pulse.

At 9:55, the share price of Oriental Yuhong fell by 1.52%, and affected by it, other core concept stocks in the entire "big infrastructure" main line, as well as industry leading weight stocks such as Conch Cement, Huaxin Building Materials, China Construction, Poly Real Estate, etc., also fell into a weak adjustment, showing a trend of opening high and closing low.

At 9:56, as the market continued its polarization trend, the net outflow of major funds in weighted sectors such as liquor, white goods, medicine, consumption, electricity, and finance, as well as major infrastructure-related sectors such as "building decoration", "building materials", "nonferrous metals", "steel", "coal", and "real estate development" has reached 8.69 million, while in the same period, the net inflow of major funds in the four core industry sectors of "emerging industrial chain", namely film and television media, Internet software, Internet applications, and electronic information, has reached 4.67 million. At 9:57, the intraday increase of "Quantong Education" reached 7%, while the film and television media industry sector index at the same time has exceeded the intraday increase of 3%.

At 9:58, the intraday decline of "Huaxin Cement" reached 2.77%.

At 9:59, the number of stocks that hit the daily limit in the three core sectors of film and television media, Internet software, and Internet applications has exceeded 20 in total.

At 10 a.m., after half an hour of fierce trading, more than 2000 stocks in the two markets were still in the green, and most of those that rose in the green were small and medium-sized stocks and micro-cap stocks, while those that fell were mainly concentrated in the main line of large infrastructure, as well as liquor, white appliances, medicine, consumption, electricity, finance and other main line areas of the main board.

"Based on the trading volume in the past half hour, the trend of individual stocks, and the hot spots..." After half an hour of fierce trading, when the market began to stabilize again, Zhao Zhiyuan, who had previously believed that the market trend would not be bad and that the market style would most likely continue yesterday's trend, couldn't help but laugh and said, "It seems that the market has continued the trend of yesterday, and is still trading around small and medium-sized stocks and micro-cap stocks."

"Yes, although the 'big infrastructure' line showed abnormal movement during the call auction and was taken over by some major funds, it still failed to move forward after the opening." Hearing Zhao Zhiyuan's sigh, Zhang Wei couldn't help but respond, "The 'Huawen Online' check really continued to open up the upward space and strongly closed the fifth daily limit. Moreover, judging from the capital trading situation at the beginning of the trading, it feels that the bullish momentum of this check has not obviously weakened. It is estimated that there will be a good premium tomorrow, and it may continue to rise by the daily limit."

"The five-board height space is broken, and the seven-board space is almost visible upwards." Liang Jiucheng felt that the trend of 'Huawen Online' after the opening was beyond his expectations, and said with a smile, "From the strength of the closing of the board, the divergent trend of the call auction before the opening is indeed beneficial to its performance after the opening."

"Yes." Zhang Wei continued to respond, "Fortunately, it didn't open at the daily limit. Looking at the moment when the market just opened, the internal profit-taking selling pressure of the check of 'Huawen Online' was actually not small, but the buying power was stronger. At the beginning of the trading, the funds withstood the selling pressure, and after perfectly taking over, it was natural for the price to close at the daily limit later."

"It's a pity that I hesitated for a moment when the market opened, and then I couldn't buy in when I wanted to increase my position later." Zhao Zhiyuan said, "But fortunately, I was smart. I saw that the price of 'Huawen Online' quickly reached the daily limit after the opening, so I quickly bought some shares of 'Huawen Media'. Now... this intraday transaction has made a floating profit of 5 points."

"Old Zhao is really talented and brave." Zhang Wei laughed, "I don't dare to take over this position, so I can only watch."

"If the price of 'Huawen Online' didn't reach the daily limit within five minutes after the opening, I wouldn't dare to increase my position." Zhao Zhiyuan said, "However, the price of 'Huawen Online' quickly reached the daily limit within one minute after the opening, which shows that today's market hotspot is definitely a continuation of yesterday's thinking. In this way... I can safely and boldly continue to buy."

"When 'Huawen Online' hits the daily limit, there is absolutely no problem in thinking of escaping from 'Huawen Media'." Liang Jiucheng said, "As long as 'Huawen Online' hits the daily limit today, then 'Huawen Media' will definitely have room for growth, or a premium."

"Did Lao Liang also increase his holdings?" Zhang Wei asked.

Liang Jiucheng responded: "No, although the hot spots in the market today are still on the main line of 'emerging industrial chain', I always feel that the mood is a bit overheated. With such high mood and the expected trend in the market, whether it can last until the closing is still different. If the follow-up support is insufficient and the market starts to shrink overall, then I am afraid... the trend in the afternoon will not be very good."

"Lao Liang, what you mean is... the market may take a big dive in the afternoon?" Zhao Zhiyuan asked.

Liang Jiucheng said: "Let's look at the market performance. In the first half hour, the market still did not release much volume, let alone the main lines of weights such as liquor, medicine, consumption, electricity, finance and large infrastructure. Even the main line of 'emerging industrial chain', which is the hottest hype among the active funds in the market, did not release much volume.

I feel that the performance of market volume is still not quite matched with the current market sentiment.

Previously, the ChiNext Index and a number of small and medium-sized and micro-cap concept stocks in the market were compared with the main board's leading stocks in the weighted main lines such as liquor, white appliances, medicine, consumption, electricity, and finance, as well as the "big infrastructure" main line that had been rising for almost two months.

The overall situation is seriously oversold.

At that time, the internal chip structure of small, medium and micro-cap stocks was generally in a state of fault.

In other words, the concentrated area of ​​trapped shares is too far away from the stock price, and those trapped have no motivation to sell, while those who are really determined to cut their losses have almost done so.

In other words, it is in a state of severe oversold.

In fact, the selling pressure on small, medium and micro-cap stocks in the market at that time was very small.

Only a small amount of funds are needed to generate a significant rebound. In fact... looking at the recent trend of the 'emerging industrial chain' line, this is indeed the case.

However, the situation now is different from what it is today.

As the ChiNext Index has rebounded continuously, it has generally increased by about 12% from its previous lowest point.

In the market, many small, medium and micro-cap stocks have recovered to the range where the historical locked-in shares were heavier in the past after this rapid rebound of the ChiNext Index.

In addition, a large number of profit-taking chips have accumulated during the stock price rebound.

Now, there are many small, medium and micro-cap stocks under potential selling pressure.

When the potential selling pressure gradually increases and the stock price rebounds to a certain height, it begins to gather in the historical trapped shares concentration area above.

In this case, if you want to prevent the volume from increasing and continue to maintain the previous trend of shrinking volume, you have to create space.

It's already unlikely.

At this point, I think if we can’t release more volume, we won’t be able to attract too much incremental off-site funds, or attract the main institutional funds in the heavyweight mainline fields such as liquor, white goods, medicine, consumption, electricity, finance, or the mainline fields of large infrastructure to adjust their positions and participate, I’m afraid it will be difficult to create room for upward movement.”

"Well, volume is indeed crucial." Zhang Wei nodded slightly, "I also feel that the current market volume performance is a bit inconsistent with the sentiment. It feels that the market has not yet gotten rid of the pattern of stock game. The so-called off-market incremental funds and speculative funds that follow the trend do not have obvious signs of entering the market." (End of this chapter)