Of course, during the ex-rights process of the net value of the 'Yuhang No. 1' fund.

In the two cities that are currently trading, the stocks that the 'Yuhang No. 1' and 'Yuhang No. 2' funds cleared and reduced their holdings yesterday, as well as some stocks that overlapped with the positions of the two funds after the two funds announced their positions. After the opening today,

These stocks have been subject to a large number of follow-up selling and chasing buying behavior by the main funds on the market.

And among these main funds, a large number of following the trend of selling, and chasing buying behavior.

The Shanghai Stock Exchange, Shenzhen Stock Exchange Index and ChiNext Index have also seen relatively obvious differentiation trends.

I saw that the GEM index continued to open lower and decline today after yesterday's sharp decline. Its component weight is the concept sector, especially the two main popular concepts related to 'mobile Internet' and 'smartphone industry chain' that have been hotly speculated in the early stage.

Sectors fell sharply across the board, selling was extremely heavy and no longer strong.

Among them, popular stocks Huaqingbao, Fenda Technology, Changqu Technology, etc. all fell by more than 5% during the session.

On the contrary, in the direction of the main board, the Shanghai Stock Exchange Index has stabilized after yesterday's sharp decline. Concept sectors such as automobiles, white goods, real estate, liquor, and infrastructure all performed more or less well, despite the continuous sharp decline of the GEM Index.

, maintaining the pattern of red plate shock and stabilizing the Shanghai Stock Index.

"Could it be that the next market trend will shift towards the main board again?"

Seeing the reappearance of the strong and deep weak pattern of Shanghai and Shanghai, some people among the market investment groups who were having heated discussions raised questions.

"It's not impossible. Looking at the position data released by the two funds managed by Mr. Su, it seems that the positions of the 'Yuhang No. 1' and 'Yuhang No. 2' funds are shifting towards the main board. They hold cars, white goods

There are many heavyweight stocks. It is obvious that Mr. Su is optimistic about the future market of these two major sectors. Moreover, based on yesterday's Dragon and Tiger List, Mr. Su has reduced his position on the two core main lines of GEM's 'Mobile Internet' and 'Smartphone Industry Chain'.

The purpose is very obvious, but there are no signs of reducing positions in the direction of the main board, which shows that Mr. Su also believes that the next market trend will shift in the direction of the main board."

"Automotive and white goods sectors, these two major sectors, what is the expected logic?"

“Home appliances are brought to the countryside, and cars are brought to the countryside?”

"It's the year-end consumption season! Or...simple risk aversion logic?"

“Shouldn’t the gold sector be the safe haven?”

"Haha, gold sector? All major central banks around the world are following the Federal Reserve in withdrawing from the flood of loose monetary policies. Moreover, the global economy is slowly recovering and emerging from the shadow of the previous financial crisis. The price of gold is not expected to rise at all, okay? Take gold.

If you want to avoid danger, why don’t you go to grandma’s house? Medicine and consumption are the kingly ways!”

"Well, cars and white goods do belong to the 'big consumption' field."

"I think the index is really bound to adjust, so it's better to just go short. Under the circumstances... I'm afraid that any safe-haven sector won't work."

"It makes sense. I always feel that whether it is the Shanghai Stock Exchange Index or the GEM Index, it is difficult to stabilize here."

"Based on the historical experience of Mr. Su appearing on the Dragon and Tiger List to sell seats, it is impossible for the market to stabilize immediately after Mr. Su has reduced his position on a large scale."

"Yes, yesterday's big drop meant that everyone who entered the market to take over the order was trapped. In this situation... it is impossible to digest it in one or two trading days. Even if there is a rebound at this time, it is an opportunity to continue to reduce positions.

, rather than the time to re-enter the market and go long.”

“I feel that in the direction of the GEM, many early popular stocks have a tendency of double head divergence!”

"Whether it's a bullish trend or not, I won't touch Mr. Su's ticket to leave the market anyway."

"The two core main lines of 'mobile Internet' and 'smartphone industry chain' have been speculated for several times this year. Many popular stocks have risen five or six times in one breath. Even if the future performance expectations are clear and the growth potential is huge, there are obviously some

The overdraft is expected in the future, and now Mr. Su has left the market significantly in this field. Technically, many early popular stocks have also gone out of the double head divergence trend. We should indeed avoid positions in this field."

"This year's popularity is all on the GEM. If the two core main lines of 'mobile Internet' and 'smartphone industry chain' collapse, the magnitude of the GEM index adjustment will not be small!"

“The GEM index has already doubled this year, so it’s time for an adjustment, right?”

"Anyway, it's not appropriate to be optimistic at this time."

"Indeed, funds will become tight at the end of the year. At this time, it is better to take control!"

In the heated market discussion, retail investors still have a strong bearish sentiment after experiencing the reversal of yesterday's market decline, and their willingness to go long has declined significantly.

And under the influence of this emotion...

The Shanghai Stock Exchange Index, which was still slightly stable, gradually fell underwater after the trading time passed 10:30 due to the continued lack of buying and acceptance capacity. Following the Shenzhen Stock Exchange Index and the ChiNext Index, it fell underwater.

Immediately after 11 o'clock, the market began to show a trend of both mud and sand.

The two main lines of 'mobile Internet' and 'smartphone industry chain', which are closely related to the weight of GEM components, related concept sectors, and popular stocks in their fields, all plummeted, including Fenda Technology, Huaqingbao, Changqu Technology,

Several stocks of Huake Financial Co., Ltd. have encountered huge selling, and their stock prices are approaching the limit.

Previously, at the beginning of the market, it showed a style change, supporting the concept sectors of real estate, infrastructure, automobiles, and white goods on the Shanghai Stock Exchange Index.

At this moment, under the influence of extremely heavy selling, the market turned green across the board, and the market trend of relevant weighted core stocks in the field also changed from strong to weak.

"The selling pressure in the two cities is huge. It seems... there is no room for even a short-term counterattack."

Seeing that several major indexes turned negative across the board, and the industry sectors and concept sectors of the two cities all turned green, in the internal trading room of Yuhang Investment Company, Li Meng stared at the market and reported to Su Yu: "The long-short switch in the market has taken shape.

, and the main driving force for the decline lies in the two main lines of high-level 'mobile Internet' and 'smartphone industry chain'. We are afraid that the speed of reducing our positions will have to be accelerated."

"Well!" Su Yu stared at the changes in the market conditions of the two cities and nodded, "The mood has weakened greatly. The market trend is weaker than we expected. There are no sustainable hot spots in the two cities, and the buying volume cannot be accepted.

It is also declining rapidly. It is necessary to speed up the speed of reducing positions, otherwise the subsequent market liquidity and buying volume will be even more expensive."

"Both Fund No. 1 and Fund No. 2 should lower their holdings to 20%!"

Su Yu paused and continued: "The chip structure of the two cities has changed again, coupled with the ever-tightening funding, and the two main lines of 'mobile Internet' and 'smartphone industry chain' that have obviously exceeded expectations,

The time and space for index adjustment may be greater than last time."

"Okay!" Li Meng responded.

Subsequently, orders were quickly issued to traders to continue reducing their positions.

And following the results of the two people's previous discussions, the pace of lightening positions of the two funds is to first reduce their holdings of stocks with less abundant market liquidity, and then to popular stocks with relatively good liquidity, as well as mid- and large-cap stocks.

As the two funds continue to reduce their positions and continue to withdraw from the "mobile Internet" and "smartphone industry chain" on a large scale, the stock market trends related to them have become increasingly miserable, and selling has emerged one after another.

, the decline continued.

Finally, at 11:30, the two cities closed at noon.

The Shanghai Stock Exchange Index fell by 0.89%, the Shenzhen Stock Exchange Index fell by 1.38%, and the ChiNext Index fell by 1.79%.

In addition to the overall plummeting index, all industry sectors and concept sectors in the two cities, only pharmaceuticals and liquor sectors, which are used as capital hedging, were slightly red, and the rest were in decline. Among them, the two major ones, 'mobile Internet' and 'smartphone industry chain'

In the core main line areas, concepts such as 'mobile games', 'Internet finance', 'Apple concept', 'network security', and 'wearable devices', which have been hotly speculated in the past, all fell by more than 2.5%, leading the two-way decline.

city!

And among these early popular concepts that plummeted.

Related core popular stocks, such as Huaqingbao, Changqu Technology, Meisheng Culture, Huake Financial, Xinwei Communications, Anjie Technology, Ren Zixing, Fenda Technology, LeTV, etc., all fell by more than 5%, and others

The three checks of Zhonghua Qingbao, Fenda Technology and Changqu Technology once hit the limit.

Faced with this midday closing situation...

The bullish sentiment in the entire market has further collapsed, and caution and risk aversion have further risen.

And when the time came in the afternoon, when the two markets ushered in the second half of the trading session, the entire market was filled with selling pressure composed of profit-making orders, yesterday's pursuit of high-level meat-cutting orders, and even early hold-up orders, further suppressing the market, resulting in

The index and the market conditions of the two cities formed a pure unilateral downward trend.

At 1:32, the Shanghai Stock Exchange Index fell by 1.21%, and the ChiNext Index fell by more than 2%.

At 1:35, Fenda Technology, a popular stock in the two cities, dropped to its daily limit and sealed the limit. Based on yesterday's intraday high of 98.33 yuan, the two-day retracement exceeded 30%.

At 1:37, after Fenda Technology, Hua Qingbao also closed its daily limit, the concept of 'mobile games' fell sharply after Hua Qingbao, a core popular stock, closed its daily limit. The sector fell by more than 5%.

, Changqu Technology, Meisheng Culture, Yaoji Technology and other concept stocks also instantly refreshed the decline to more than 8%, approaching the limit.

At 1:52, the GEM index's intraday decline refreshed to about 2.5%. There was no red plate in the industry sectors and concept sectors in the two cities, and the hot spots were all wiped out.

At 2:01, the banking sector suddenly plunged, and Jinling Bank fell 5% in a flash crash.

At 2:02, affected by the rapid plunge of the banking sector, the Shanghai Stock Index's decline expanded rapidly, from around 1.45% to 1.89%, approaching the 2% mark.

"What the hell? Instead of protecting the market at this time, banks are taking the lead in diving?"

Seeing that the weighted sectors supporting the Shanghai Stock Index actually showed a big diving trend after 2 o'clock, someone in the main group of Yuhang Hot Capital where Su Yu was located let out an exclamation in confusion.

"Jinling Bank is leading the market to collapse!"

"Is there any bad news? Such a sudden collapse of Jinling Bank is extremely abnormal!"

"The news has not yet been revealed, but if a large-cap bank stock with a level of hundreds of billions like Jinling Bank suddenly crashed, and the main funds on the market poured out, something must have happened."

"Important internal personnel changes? The president is under investigation?"

"I don't know! But anyway, at this time, it's better to avoid it!"

"It's not just the problem of Jinling Bank. The collapse of the bank has spread the panic in the entire market. Even the liquor, medicine, and related stocks held by Mr. Su, which had resisted the decline before, are now all falling indiscriminately.

The differential has fallen, and it feels like everyone is cutting positions and competing for market liquidity."

"What the hell, the information asymmetry is so irritating!"

"Follow the sale, I feel that there is obviously a liquidity crisis on the market. At this time, it is not appropriate to hold a position, let alone to catch the knife at the bottom!"

"The market has quickly turned bearish! Hey... I originally wanted to wait for a weak rebound, but now I see that I can only cut my losses unconditionally. Damn it, I really didn't gain anything with this rebound."

"In a falling market, if you don't lose, you make a profit."

"If this decline continues, the chip structure of Fenda Technology, Huaqingbao, Changqu Technology, LeTV, and Xinwei Communication will be completely dispersed, and there will be no chance of a turnaround in the future."

"These tickets, after being speculated to this point, are almost done."

"Yes, from the bottom up, the increase is four to five times, five or six times. No matter how greedy you are, you really shouldn't do it!"

"There was originally a sign that the market was shifting from the GEM to the main board today, but now the panic has been completely dispelled. It's really... a combination of mud and sand!"

"Hey, generally speaking, the market capital is still tight and the increase is insufficient."
To be continued...