splendid star

Chapter 16 Carnival curtain call
"The boundless fallen leaves are rustling, and the endless Yangtze River is rolling in." At the turn of autumn and winter, the autumn wind rustles, bringing bursts of chill. Retail investors in the trading hall tighten their coats with their hands from time to time, or rub their hands involuntarily.After the market broke through 6000 points at this time, it temporarily ended the hotness of the previous few days and entered the adjustment stage.
"Winter came earlier this year than last year, and it's already so cold at the end of October! Aunt Liu, the stock market has entered a period of adjustment since it dropped from a high of 10. This second high has just touched the 6300-point mark. It's down. Do you think this is a normal technical adjustment or is it a gimmick?" Mr. Ji pulled the collars on both sides with both hands and asked Mrs. Liu for advice.
"Isn't China Energy going to be listed soon? At that time, the market will rise again. Maybe the market will jump to 8000 points under the leadership of China Energy!" Mrs. Liu thinks it is a normal technical adjustment. , the big upward trend is not broken.
"Have you subscribed to China Energy?" Mrs. Liu asked Mr. Ji.
"Well, I sold all the stocks in my account to China Energy, which I subscribed for. Fortunately, I won the lottery." Mr. Ji couldn't hide his joy.
"I also applied, but I didn't win the lottery. It is said that it takes 150 million to subscribe to win a lottery. With the amount of funds I have, I can only wait for the first day of listing to buy and get on the car." Mrs. Liu looked at Mr. Ji with great envy. The stock market This thing sometimes really depends on luck, such as buying new stocks.She was mentally prepared to buy when the market opened.
While chatting with Mr. Ji, Mrs. Liu’s phone rang:
"Grandma Liu is really clever. The stock market has indeed adjusted. Should we buy now? I'm afraid we will be short." Yu Yang called Grandma Liu for advice.
"Is it hard to be in a short position?" Mrs. Liu asked Yu Yang with a smile.
"Yeah, I'm trying my best to control my buying habits now, and I'm waiting for your news! Seeing the funds in my account lying down and sleeping, I feel so uncomfortable." Yu Yang couldn't hold himself back for a long time. I want to buy stocks.
"Just wait a little longer. China Energy, which is said to be the most profitable company in the world, is about to go public. By then, it should lead the market to another surge. China Energy is a rare good stock. You can consider buying it on the first day of listing. "Old lady Liu suggested that Yu Yang keep the money first and wait for China Energy to be listed.
"Okay, listen to Grandma Liu, I'll wait for two more days." Yu Yang also checked the relevant information of China Energy on the Internet. Buffett made more than 10 times profit by buying China Energy's H shares. It is rumored that China Energy may become China's first capital stock. Only one thousand yuan shares.Yu Yang decided to set aside all his funds to buy China Energy, and when the amount doubled, he would buy an apartment in Beijing and officially settle down.
Over the next few days, the stock market moved forward in shock.The foreign economy is in turmoil, and domestic money is tightening. At this time, the unprecedented bull market in China's A-shares has reached its end, and its stamina is seriously lacking. The sideways trading for several consecutive days is obviously the result of gambling funds looking for direction.However, for hundreds of millions of shareholders who are red-eyed, they only want to believe that "it's hard to buy a cow back with a lot of money." At this moment, China Energy, which has high hopes, is like a hero that attracts much attention, riding on the colorful auspicious clouds, leading With public expectations of leading the market to climb Mount Everest, it landed on the A-share market with great fanfare.
The blue-chip bull market that lasted for two years has made people accustomed to "buying value stocks regardless of time."At this time, China Energy, the belated giant, has too much halo blessing, great star effect, and gathers thousands of favors and attention.
At 9:58.8 a.m. on Monday, the much-anticipated China Energy went public.The opening price was as high as 200 yuan, a full [-]% higher than the issue price.It quickly set a series of historical records, becoming the world's largest company by market capitalization and the largest heavyweight company in the Shanghai and Shenzhen stock markets.
But the strange thing is that China Energy only touched 59.97 yuan at the opening of the market, and then fluctuated all the way down to the closing price of 54.61 yuan per share.What's even more paradoxical is that the market continued to fall sharply that day, taking over the previous adjustment momentum. The Shanghai Composite Index fell below the 5600-point integer mark, falling sharply by 4%.
Danger signals are naturally difficult to detect by fanatical retail investors. "Less than, have you bought China Energy?" Grandma Liu finished her buying operation in the afternoon and felt relaxed, so she called Yu Yang.
"Grandma, I have already invested all my money in China Energy this morning. What about you, have you bought it?" Yu Yang bought all of China Energy with his salary and all the money he had previously made in the stock market.
"Grandma, I also have a heavy position in China Energy. The retail investors in my trading hall are still rushing to buy China Energy. Let me tell you, it is too hot to speculate in China Energy now. Remember, if you want to rush back later, you must first Throw it away, don't be greedy..." Yu Yang heard voices discussing how many lots of Chinese energy to buy from time to time among the bustling crowd on Mrs. Liu's side.
"Have you heard? Whoever controls China's energy will control the stock market. Look, it's 55 yuan, so get on the bus." Retail investor A said to retail investor B.
"Buy quickly, buy quickly." Retail investor B placed the order in a hurry, as if he would not be able to buy it one minute later.
Mr. Ji saw that China Energy opened at 58.80 yuan, and he shouted in his heart that he had made a fortune now!He was calculating how much money he could make from these 10 shares if China Energy could reach the daily limit for 1000 consecutive times based on the previous increase in new shares. Then he added dozens of shares of China Energy.
"Uncle Ji, the more than ten yuan you subscribed for is now 59 yuan, do you want to throw it away?" asked retail investor A.
"If you don't sell it, you are a fool! This is just the beginning. Which new stock doesn't have ten or eight daily limits, let alone China Energy, the most profitable company in the world. I still expect it to make me more money." Here!" After Mr. Ji said this, he ignored retail investor A.
Everyone is rushing to buy Chinese energy, scrambling to be the first, fearing that they will be late and not be able to get on the bus.As of the close of the day, China Energy's turnover rate was as high as 60%.
What investors didn't expect was that China Energy peaked on the first day of its listing. The 59.97 yuan it touched in early trading became its highest stock price in history. Since then, the trend has been bearish until it bottomed out.At this time, the U.S. subprime mortgage crisis is intensifying, and the stock markets of China's neighboring countries have begun to fluctuate sharply. However, my country's heavyweight stocks are continuously queuing up for listing, increasing their blood-drawing function. A-shares have reached a "critical point" under heavy pressure, and perhaps only All it takes is a light straw to crush this fat mad cow.
When the market was at 6000 points, the central bank's announcement of another increase in the deposit reserve ratio may have been the straw. From that time on, undercurrents of funds began to continue to flow out of the stock market, and the listing of China Energy undoubtedly accelerated the bubble. of disillusionment.
In the next few days, China Energy did not see the continuous daily limit that everyone expected, or even a decent rebound, but fell all the way.
Retail investors are a little bit unable to sit still. What is going on? Is it unreasonable?Where is the promised most profitable company in the world? Where is the listed company with the largest market capitalization in the world?Why did this fall so much!
"Grandma Liu, why does China's energy keep falling?" Yu Yang couldn't sit still at first.
"Don't be afraid, less than, this is a normal technical adjustment, it will rise again if it falls. I heard experts say that China Energy has investment value below 50 yuan. The process may be repeated, but it will eventually rise to 200 yuan. It's completely possible nearby." Mrs. Liu was full of confidence.
"Okay, I listen to Grandma Liu." Yu Yang thought that when he got 200 yuan, he could sell the stocks. The down payment for buying a house was almost enough. When he settled down, he could get married to Lulu.
"Aunt Liu, what do you think of China Energy? I bought thousands of shares!" Mr. Ji asked Grandma Liu.
"Stocks always go up and down. Maybe the dealers are washing the market! If they don't wash us out, how can they raise the price? Otherwise, they will give us a lift!" Mrs. Liu felt that China Energy has been on the market since its listing. The underlying reason for the continued decline is that institutions are washing the market in preparation for a later pull-up.
"Yu Yang, do you have a full position in China Energy?" Yu Qing saw Yu Yang's account and called to ask.
"Yeah, what's wrong?" Yu Yang didn't understand why Yu Qing asked.
"Haven't you heard? You can't put all your eggs in one basket. I advise you to use part of your money to buy other stocks, including funds. Diversify your investments and reduce risks." Yu Qing advised Yu Yang.
"You won't have performance pressure to promote funds to me, right? Forget it, I'll just take my China Energy. Grandma Liu said that China Energy has investment value below 50 yuan. I'm still waiting for it to rise to 200 Yuan!" Yu Yang thought to himself, and declined Yuqing's reminder, intending to firmly hold China Energy.
A week has passed, half a month has passed, and the stock index is still fluctuating and adjusting. China Energy has not shown the rise that Mrs. Liu expected, but has been trading sideways and falling continuously.At this time, Mrs. Liu also couldn't understand. Now energy prices are constantly rising!Why do the stocks of this company, which is known as the most profitable company in the world, keep falling?
"Aunt Liu, China's energy has been going sideways for a while. Isn't it time for the main force to pull up?" Mr. Ji asked Mrs. Liu.
"I feel the same way. How about I add more positions to spread the cost." As she spoke, Mrs. Liu opened her account, started selling other holdings, and continued to increase her position in China Energy.
But then, the stock index did not continue to rise after the adjustment as everyone expected. Instead, it fell more and rose less. After going sideways, it chose to continue turning down and never looked back.
At this time, the trading floor was no longer as cheerful as it had been a while ago, but instead there were various differences of opinion, and no one understood how the stock market would go next.
Retail investor A doesn't want to watch his profits in the past few months shrink, so he plans to sell some of his stocks.
Retail investor B is hesitating whether to ship goods or cover positions to reduce costs.
Mr. Ji lowered his head and carefully studied the trend of the market. Is this a correction of the bull market or the beginning of a bear market?
Mrs. Liu was also a little unsure. She was looking for information everywhere and would not let go of any expert's stock review program. Everyone had no idea what the stock market would do next.
Yu Yang saw that China Energy did not rebound as expected, but continued to fall. Seeing that the price was getting lower and lower, the profits of the stock account had also turned from red to green, and the losses were still increasing, he couldn't help but start again. I asked Mrs. Liu on the phone:
"Grandma Liu, what's going on with China Energy? I have a full warehouse!" Yu Yang asked Mrs. Liu in a tearful tone.
"You are less than, I'm also looking for information everywhere! Why don't you pay part of it first? Wait for the price to rise later and then cover the position." Mrs. Liu suggested.
"Then just listen to Grandma Liu." Yu Yang really couldn't bear to cut his flesh, but he watched helplessly as the funds in his account continued to shrink. He lost all the money he made in the stock market in the past few months, and even lost as much as principal.He plans to sell a small part of the stock first to reserve rent and living expenses for the next one or two months. The stock cannot just fall but not rise, right?
When summarizing the rise and crash of the U.S. stock market in the 60s, John Brooks once said: “If there is one thing that is certain in the history of the stock market, it is that the boom in new stocks is always the final stage of a dangerous boom—a warning of the coming disaster. warning as surely as periodic breathing abnormalities are a sign of death.”
A few days later, the market fell below the half-year line. This was the first time in two years since entering the bull market that the market fell below the half-year line.
At this time, retail investors in the trading floor are all considering a question - "To sell or not to sell?" What if it goes up after selling?If you don’t throw it away, what if there is a basement under the floor?
"Sell?" Mr. Ji was weighing. He finally won 1000 new shares of China Energy, but the cost was raised a lot by the late cover-up. Now he is at a loss. Should he sell?Not willing to sell?It's really heartbreaking to watch the funds in your account getting less and less day by day. "Sell decisively when it reaches 50." Mr. Ji thought.
It was already winter, and the crowds queuing up to open accounts disappeared from the entrance of Yuqing's securities business department, and the crowds returned to the deserted state of a year ago.
Seeing the lifelessness in the trading hall and the customers all hanging their heads down, Yuqing felt sad.The company's assessment has also been adjusted from the previous revenue generation to assess the number of accounts opened, sales of funds and financial products.All this indicates that the stock market is beginning to turn from bull to bear.
In the following period, the market continued to fluctuate and adjust, and China Energy also fell from more than 50 to more than 40, until now it is more than 30.Slowly, there are more and more retail investors in the trading floor, and there are fewer and fewer voices discussing China's energy. Customers who want to cancel their accounts have quietly appeared in the sales department.
The weather is getting colder and the Spring Festival is getting closer.The market continues to fluctuate downward.Looking back, China Energy's opening price of 58.8 yuan stood high, getting further and further away from the current price. Returning to "50 yuan" seemed to be a luxury hope.After all, Mr. Ji did not sell the China Energy in his hands. Yu Yang, Mrs. Liu and other retail investors who bought China Energy were deeply trapped.
No one expected to be trapped by such a stock, which is known as the most profitable in the world, and no one expected that it would become the fuse of the market collapse.
The crazy bull market came to a dismal end amid the continuous decline after the listing of China Energy.An era of carnival for everyone to speculate in stocks has ended.
Some people say: There are only two emotions in the stock market - greed and fear.When you should be fearful, you choose greed; when you should be greedy, you choose fear.When the bull market comes, most of the myths circulating in the market are praiseworthy myths about getting rich in the stock market. The widespread spread of such myths has ignited more people's greed, while another emotion - fear, has slowly been diluted. .Awakening those frightening moments in history may prevent more greedy people from sliding into madness and falling into the abyss...
(End of this chapter)