Rebirth of the Capital Legend

His eyes, amidst the rapid rebound of the Shanghai Stock Exchange Index, were fixed on the ChiNext Index, which showed almost no movement and did not follow the rebound.

The real crux of the market.

The areas where capital liquidity is seriously lacking are countless small-cap concept stocks, including the GEM and the small and medium-sized board index!

Simply pulling in weight cannot save these votes, nor can it alleviate the market's liquidity crisis.

Understanding this, Su Yi was not in a hurry to close the main contract of the Huazheng 500 Index futures he held, because he knew that the vast majority of the constituent stocks of the Huazheng 500 Index were not the ones that were focused on by this mysterious fund. Stocks of central enterprises and state-owned enterprises.

as predicted……

Huge amounts of money were poured into the stocks of central and state-owned enterprises.

It almost pushed the Shanghai stock index into the red market, but it was not able to leverage the ChiNext index and the small and medium-sized index to follow suit and rebound.

Finally, in the last half hour of trading, the mysterious funds had no choice but to stop, and the Shanghai stock index began to fall rapidly again. The market's panic selling sentiment, after these twists and turns, not only did not ease, but intensified.

Finally, when 3 p.m. arrives, the market closes.

The Shanghai Composite Index closed down 3.34%, barely holding on to 4000 points, maintaining some dignity.

The ChiNext Index, the Small and Medium Enterprises Index, and the China Securities Exchange 500 Index continued to plummet by 8%. Among them, the main futures contract of the China Securities Exchange 500 Index still closed at the lower limit.

The trend of thousands of stocks in the two cities falling to the limit has not been reversed.

The number of desperate investors who have suffered huge losses is still increasing, and there are also more and more leveraged investors who have hit the liquidation warning line or have been forced to liquidate their positions.

And due to the continuous lack of liquidity and the complete collapse of market investment sentiment.

Systemic financial risks are coming quietly.

After the market closed, in the evening, the entire market investor group faced huge complaints, as well as numerous media reports.

Regulators finally no longer remained calm, but continued to lower the mandatory liquidation line for market financing accounts, and no longer mentioned the cleanup of over-the-counter financing.

However, there are benefits to this small favor.

For a market that is already in a state of collapse and needs a strong dose of medicine, it will not help at all.

So, the next day, Tuesday, June 6th.

The entire market once again opened with a plunge, with the Shanghai Stock Exchange Index opening as low as 1.52%, the GEM Index and the China Securities Exchange 500 Index opening as low as about 4%, and the two cities showed a -share limit-down state at the opening.

After a series of sharp declines.

The total floating profit of the 30 main contracts held by Su Yi has soared to more than 1400 million.

However, he was still in no hurry to close his position and take profits.

Because he knows that at this time, the market's liquidity dilemma has still not been resolved, and the panic selling sentiment has still not been vented and released. What's more, in the unilateral collapse of the market, he can use stock index futures to hedge or short-sell stock index futures. There are more and more people speculating.

In this case, the market has no significant positive stimulus and does not prioritize solving the liquidity dilemma.

It won't stop falling at all.

"Crazy, simply crazy..." Seeing the market continue to plummet, Lin Minghui, sitting next to Su Yi in the VIP trading room of the sales department, expressed despair in his eyes, "I have never seen such a trend, there is no liquidity at all. .”

He holds tens of millions of chips in his hands.

Facing the stocks in the account that have fallen by the daily limit, it is impossible to stop the loss even if you want to.

"Old Lin, sell short stock index futures to hedge, don't have any illusions." Mr. Deng sighed and said, "The bull market may be over."

Lin Minghui looked up at Mr. Deng, his eyes filled with unwillingness.

But after half a month of continuous beating by the market, I lost nearly 3000 million in funds.

He had no choice but to sigh heavily, honestly opened his stock index futures trading account, injected his last remaining liquidity, and prepared to short-sell stock index futures to hedge against losses in his stock account.

A few minutes later, the market officially opened for trading.

Lin Minghui placed a short position on 10 lots of the main contract of the China Securities 500 Index futures and no longer had any expectations for the stock account he held.

After the order he placed is completed.

The market index maintained a sideways trend for less than ten minutes and then continued to fall unilaterally.

At 9:45, the Shanghai Stock Exchange Index's decline expanded to 3%, and the ChiNext Index's decline touched 5%.

At 10:05, the Shanghai Stock Exchange Index fell to 4.5%, while the ChiNext Index fell by more than 6.5%.

At 10:25, the Shanghai Stock Index fell through the 5% level, once again falling below the two major integer marks of 4000 points and 3900 points. At this time, the GEM Index's decline has expanded to more than 7.5%, and the two cities have once again fallen to the limit of shares.

Lin Minghui looked at the scene in front of him that he didn't know how many times the "thousand shares fell to the limit".

His expression was numb.

Fortunately, through timely hedging transactions at the opening of the market, he had recovered more than 90 in losses for his stock account that had suffered a huge loss, so he was not feeling too uncomfortable at the moment.

"Is this what the market will be like today?" Mr. Deng couldn't help but said when he saw that the 'main contract of Huazheng 500 Index Futures' hit the lower limit again, and on the two markets, the bulls had completely given up resistance and took the initiative to accept very few buying orders. , "This is no longer a normal correction, but a stock market crash!"

"It's just a stock market crash." Someone next to him responded, "It's a normal correction. How can there be a continuous drop of 1,000 shares?"

"Many stocks have no liquidity at all. If this continues, the stock market crash will induce systemic financial risks, and it will be completely over."

"It keeps falling by the limit and can't even close the position. I'm really losing money so much that I want to jump off the building."

"Sigh, the Shanghai Stock Index cannot hold on to 4000 points. The declaration released by the official media that '4000 points is the starting point of the bull market', now it seems...has become a joke."

Mr. Deng's words directly triggered complaints from many large investors in the trading room.

In the past half month, no matter whether they have added leverage or not, as long as they are large investors who hold a large number of stocks, everyone is regretting the huge losses in their accounts at this moment.

"Eh..." In the trading room, everyone was filled with regrets and complaints. Su Yi stared at the trend of the 'China Securities 500 Index Futures Main Contract', which had hit the limit several times but could not seal the limit. More and more dealers are buying long orders or covering short orders quickly. I couldn’t help but exclaimed and thought to myself, “It’s strange. At this time...the huge number of dealers buying long orders and covering short orders is… advantageous.” good?"

Before he could continue his deep thoughts.

The next moment, accompanied by changes in the stock index futures market.

The major heavyweight sectors of banking, securities, and insurance, as well as almost all the heavyweight financial stocks, have violently moved. Countless investors with thousands of hands buying big orders are like magic soldiers descending from the sky, and they are madly gathering in the entire "big financial" field, driving the " Weighted index stocks such as CEFC Securities, Huaguo Ping An, China Commercial Bank, China National Bank, etc. rebounded rapidly.

Then, in the midst of the 'big financial' riot.

A large number of central enterprises, state-owned enterprise concept stocks in the market, and even numerous small and medium-cap concept stocks with their daily limit lowered, have also followed suit.

Billions, billions, or even tens of billions of buying funds.

Like a group of ghosts that suddenly emerged from the darkness, they began to sweep the market regardless of cost.