"What's happening? It's already hit the limit up?"
Noticing that the stock 'Teli A' quickly touched the limit up board, old Wu, in his astonishment, came to his senses, feeling it was all a bit surreal.
"Holy crap, that's too fast..." Xu Qiao said,
"I didn't even react in time."
"What's the turnover rate? Can it really hold the limit?" old Zhang said nervously.
At this moment, as everyone watched, the turnover rate for 'Teli A' after hitting the limit up board was only 7%.
"The main capital that just pulled the market up was too eager, wasn't it?"
Chen Ge, who also came to his senses, frowned and said,
"Forcibly locking the limit with insufficient turnover rate will likely lead to selling by funds already in the market. Once the limit breaks, the sentiment will turn from strong to weak, which is even more detrimental to the stock's future performance."
"Who's so aggressively scrambling for shares?"
At the moment Chen Ge sighed, in the 'Gusu Faction' main force retail investor group, Zheng Jinming, the retail investor from the 'Gusu Renmin Road' trading seat who had originally planned to significantly increase his holdings of 'Teli A' shares during the trading session, couldn't help but complain,
"Couldn't they wait for the market turnover to be a bit more sufficient? Pulling it up so quickly, not only overdrawing the market's bullish sentiment in advance, but isn't this intentionally causing profit-taking funds in the market to sell off?"
"It's not really going to be a low volume limit up, is it?"
Zhang Xinlei from 'Modu Jinling Road', also in the 'Gusu Faction' main force retail investor group, questioned.
"If it's really a low volume limit up, then 'Teli A' cannot be entered right now,"
said He Chong from the 'Gusu Xibei Street' trading seat.
"The volume reduction is too fast, and there are too many locked-up funds in the market. Under this kind of trend, many profitable funds will definitely sell off."
"It's already hit the limit, but looking at the situation, it shouldn't hold, right?"
said old Qian from 'Yuhang Wenhua Road'.
Under everyone's gaze...
Only about a minute after 'Teli A' surged straight to the limit against the market trend, 'Teli A' had already locked the limit up board without any obstruction.
However, after it locked the limit, the selling pressure on the market not only didn't weaken but rapidly intensified.
Thus, under the effect of concentrated selling.
At 9:41 AM, in the third minute after 'Teli A's stock price touched the limit up, its accumulated limit up order was rapidly breached by market selling funds, causing its price to break the limit and fall back.
At 9:43 AM, 'Teli A's stock price fell back to around 8.5%, re-entering the market's oscillation range of 7% to 8.5%.
And along with 'Teli A' breaking its limit and falling back.
Its associated 'SOE Reform' concept theme, its related stocks, and even the entire market's 'SME and ChiNext' concept stocks.
Also fell in an instant, ushering in a market plunge.
"Lacking market turnover, it really couldn't hold the limit!"
Seeing 'Teli A' break its limit and fall back, Xu Qiao sighed helplessly in the 'Modu Ultra-Short Gang' main force retail investor group.
"It's not just a matter of turnover rate; the overall market trend is also very poor today," old Wu said.
"The Shanghai Composite, Shenzhen Component, and ChiNext Index have all fallen by more than 1%, and they seem to have a tendency to continue plunging. It feels like this wave of rebound after the holiday is about to end."
"Alas... is 'Teli A' going to replicate the trend of 'Meiyan Jixiang' from before?"
Old Zhang, who was full of confidence and hope just a few minutes ago, now saw the entire market plunging rapidly, and 'Teli A's bullish sentiment was also quickly fading, causing his confidence to waver.
"If it can't even achieve a second consecutive limit up, then there's really no hope of hitting new highs."
"The market selling pressure is very heavy!"
Chen Ge also frowned at this moment, sighing.
"Exactly," Xu Qiao said.
"The limit up couldn't hold, so all the various funds in the market that originally intended to lock up their positions rushed out. In just these few minutes, 'Teli A's market turnover rate soared."
"Within three minutes, I've seen several large sell orders of over 3,000 lots consecutively," old Wu said.
"It seems many of the main funds that entered in the past two days are already taking profits."
"Brother Su probably hasn't left yet, has he?" old Zhang said.
Old Wu replied,
"I don't know, but whether Brother Su sells or not, it can no longer stop the market sentiment from receding."
"So... old Wu, are you also preparing to take profits and sell?" old Zhang asked.
Old Wu thought for a moment and said,
"First, I'll sell off part of my position to lower my holding cost, and keep some basic shares to observe its future performance."
"Alas, if you say so, then I'll also sell part of my position first," old Zhang said.
"The capital that pulled the market up at the beginning of the session really chose the wrong time. The good market trend was ruined by this capital."
"Holy crap, old Zhang, didn't you say you were going to hold your position long-term?"
Hearing that old Zhang was also preparing to reduce his position and take profits, Xu Qiao exclaimed in surprise,
"You're completely contradicting yourself!"
Old Zhang said,
"Plans change. After thinking about it, it's better to secure profits."
"What about Chen Ge?" Xu Qiao asked.
Chen Ge replied,
"The overall market sentiment today looks a bit bad. 'Teli A' has been dragged down by the overall market sentiment. In this situation... it will be very difficult to relock the limit after it breaks. Alas... I can only reduce half of my position first to lower my holding cost and gain more initiative in the market."
Seeing that everyone planned to reduce their positions and withdraw, Xu Qiao pondered for a moment, then sighed helplessly and said,
"If everyone leaves, the market selling pressure will only get heavier, and it will indeed be quite difficult to relock the limit. In that case, I'll also reduce half my position. Holding it makes me uneasy, and watching profits retrace also affects my mentality."
With that, several people began to place sell orders on 'Teli A's market.
Similarly, among the profitable funds in the market at this moment, there were quite a few people who shared the same thoughts as them.
Consequently, under the continuous selling by these people.
As market trading time progressed, 'Teli A's stock price began to fall steadily, showing a pattern of continuous decline.
However, during its continuous volatile decline.
The trading volume on its chart was fully released, and the turnover rate continuously climbed.
"Finally, the volume has been released,"
Su Yi, unlike the many profit-taking funds in the market, stared at 'Teli A's market trend as its price had fallen from the limit up to its opening position, and let out a long breath.
His expression was much more relaxed than at the beginning of the session, and he thought to himself,
"It's a good thing it broke down a wave at the open, otherwise these locked-up funds would be really hard to flush out."
Any stock without sufficient chip exchange and turnover cannot go far.
If too many funds are locked up, and the 'palanquin' in the market is too heavy, then fewer and fewer people outside will be willing to carry it.
Therefore, in Su Yi's opinion.
The rapid upward surge of 'Teli A' at the start of the session, followed by its rapid break from the limit, was not problematic at all.
Instead, it perfectly aligned with the emotional trend of both major markets, increased market turnover, and indirectly reduced potential selling pressure for a successful re-lock later.
Analyzing from this factor...
He believed that after 'Teli A's market turnover was sufficient and the intraday volume had decreased again.
As long as there were funds daring and willing to initiate the main lock, the difficulty of locking the limit would be significantly lower than at the beginning of the session.
And he believed that once 'Teli A's market turnover was sufficient, there would definitely be active main funds in the market to drive a re-lock.
Because looking at the entire market.
Although 'Teli A's stock price was continuously falling under heavy selling pressure.
But undoubtedly, this stock was still the sentiment barometer for the entire market.
Only by demonstrating the market's expectation for this stock could the overall market sentiment be reversed, could the speculative space for major concept themes be opened, and could the speculative enthusiasm of the entire market be rekindled.
What's more, 'Teli A's market volume increased so rapidly.
This already indicated that the funds willing to take over shares of this stock in the market, whether retail investor groups or active main force retail investor groups, were quite abundant.
"Brother Zheng, now... we should be able to buy, right?"
As Su Yi secretly sighed, Zhang Xinlei from 'Modu Jinling Road', also in the 'Gusu Faction' main force retail investor group and continuously monitoring 'Teli A', asked,
"I feel the market turnover rate is almost sufficient, and 'Teli A's stock price has also oscillated back to its opening position."
"Buy it, definitely buy it."
Zheng Jinming from the 'Gusu Renmin Road' trading seat smiled, looking very excited.
"Didn't expect this stock to actually give us an opportunity today."
"I've already acquired nearly 5 million shares," He Chong said.
"Holy crap, old He, you're planning to hog it all!"
Zheng Jinming said with a laugh.
He Chong replied,
"With a circulating market cap of nearly 9 billion, how can my small amount of capital hog it all? Even if I put it all in, it wouldn't be enough to fill the teeth of the funds from 'Jinrongjie Fuxing Road'."
"I wonder if the funds from 'Jinrongjie Fuxing Road' have left yet?" old Qian said.
"Looking at the instant transaction orders after the opening, quite a few of the large funds that intervened earlier have indeed left."
Zheng Jinming said,
"Whether the funds from 'Jinrongjie Fuxing Road' have left or not, we do what we're supposed to do. The speculative trend for 'Teli A' will absolutely not end here. There are many smart funds in the market; if we don't do it, other funds will."
No sooner had he finished speaking...
On 'Teli A's market, which had already fallen back to near its opening price.
Continuous main buy orders in the thousands of lots appeared again, placed to take over the market, unscrupulously sweeping up shares.
"Holy crap, old He, are you placing orders to snatch shares?"
Zheng Jinming quickly noticed the large main buy orders on 'Teli A's market and said anxiously,
"At least leave some for me!"
"It's not me," He Chong said.
"I'm wondering about that too."
Zheng Jinming's eyelid twitched when he heard it wasn't one of their friends in the group, realizing that other big players in the industry had also set their sights on this stock.
He didn't even have time to type a reply in the group.
He quickly placed orders, starting to sweep away 'Teli A's market sell orders with continuous large orders of thousands of lots, frantically accumulating shares at relatively low intraday prices.
And as he, and the entire 'Gusu Faction' main force retail investors, rapidly took over the market.
Wu Mingze, 'Brother Jintian', who was also aggressively snatching shares in the market, was clearly stunned, thinking to himself:
"Well, well, they didn't scramble for shares when it broke the limit up before, but now that the price has dropped to an intraday low, they all flooded out instantly, damn it... are they even going to let me quietly accumulate shares?"
While complaining, he continued to place orders to follow up.
But the result was, five minutes later.
His placed orders were frequently pushed behind the main buy orders competing with him for shares, preventing him from acquiring many actively sold shares in the market.
"It seems this won't do!"
Wu Mingze glanced at the pitifully small amount of 'Teli A' shares in his account.
Immediately, with a resolute heart, he no longer scrambled for shares by placing orders but directly issued buy orders at market price, sweeping upward through 'Teli A's pending sell orders ahead.
When his main buy orders, placed at market price, poured into 'Teli A's market.
Dozens of pending sell orders on 'Teli A's market were swept clean by him, and its stock price was also directly pulled up by him to an 8% increase.
Noticing 'Teli A's stock price soaring directly, returning to the 8% increase position.
Zheng Jinming, who had originally been competing with Wu Mingze for shares by placing orders, now had to abandon the method of placing orders to buy shares, and instead followed suit by sweeping up market sell orders at market price, continuously acquiring pending sell orders and vigorously pushing 'Teli A's stock price upward, causing it to charge towards the limit up board once again.
And when 'Teli A's stock price once again approached the limit up board.
Those various investor groups who had previously been hesitant about the stock's market trend, watching it but not daring to buy.
At this moment, they swarmed in again.
"The market expectation for a re-lock has finally materialized!"
Su Yi gazed at 'Teli A's market, which was getting stronger and stronger, with various funds gathering, scrambling for shares more aggressively and intensely.
He knew that this stock, after sufficient turnover, was highly likely to re-lock the limit up board in this rebound, and couldn't help but smile and exclaim.
Then, his fingers quickly tapped the keyboard.
He placed an order for 10 million in his account at the limit-up price, continuing to ignite and assist 'Teli A's market re-lock.
When the 10 million in his account poured out, rapidly surging into 'Teli A's market.
Coupled with 'Jintian Road' continuously scrambling for shares, the 'Gusu Faction' main force retail investors frantically snatching shares, and those various retail investor groups and other active retail investors who saw 'Teli A's expectation of re-locking the limit up board growing stronger and swarmed in to follow...
Under the combined main attack of so many buying fund groups.
Almost instantly.
'Teli A's stock price soared straight from around an 8% increase to the limit-up price, touching the limit-up board for the second time in the day.
And this time, the moment its stock price touched the limit up board.
Continuous large main buy orders of thousands and tens of thousands of lots swarmed together directly, without any hesitation or pause, scrambling to block the limit up channel.
One second, two seconds, three seconds...
On the limit up board, tens of millions, even hundreds of millions of funds' selling shares, after being fully absorbed by the surging limit-locking buy orders.
In just five seconds, the volume on 'Teli A's limit up board sharply decreased.
After that, in less than half a minute, the number of limit-up orders on 'Teli A's limit up board surged to over 100,000 lots, completely locking the limit up.
(End of Chapter)