Nevertheless, it was unpleasant.
However, at this point, if he were to chase the high again to cover his position and admit he sold incorrectly this morning, he was equally reluctant to do so.
Yet, the more he hesitated to cover his position, the more the market continued to surge violently during the late trading session.
The SSE Composite Index, SZSE Component Index, ChiNext Index... a host of core market indices not only fully recovered from the morning's sharp decline, turning red collectively, but also continued their ferocious ascent, starting to recoup last Friday's losses.
At the same time, as the indices continued their strong upward momentum and unilateral rise.
The three stocks Mr. Lin sold prematurely, 'LeEco', and the reduced positions in 'Ping An of China' and 'East Money', also saw violent surges.
Finally, when three o'clock in the afternoon arrived.
The SSE Composite Index made a dramatic reversal, closing up a staggering 2.19%, with an intraday fluctuation of 7%.
And Su Yi's CSI 500 Index Futures main contract, which he decisively took profit and closed in the afternoon trading, also closed around a 2% gain, with an intraday fluctuation of nearly 10%.
As for the three stocks held by Mr. Lin, 'LeEco', 'Ping An of China', and 'East Money'.
All closed with gains of over 3%, and their intraday fluctuations all exceeded 10%.
Among them, 'LeEco', the stock Mr. Lin sold prematurely, staged a comeback all the way from its lowest limit-down position during the day to close with a 6% gain.
Mr. Lin's heart bled as he watched 'LeEco' close with a bright red 6% gain.
If he had held on and not significantly reduced his positions this morning, his holding account would not only have completely turned the morning's losses into profit but would have also closed with at least 2 million in profit.
But now... even though all three stocks he held saw significant gains, his account still showed an intraday loss of over 2.7 million.
This was due to his panic reduction of positions this morning.
This back and forth amounted to a profit difference of nearly 5 million.
"Sigh..."
Mr. Lin saw the two markets close with significant gains, but there was no hint of happiness on his face.
"Everyone says it's hard to hold stocks in a bull market, harder than staying a widow. I never expected it to be true. The regulatory body's good news came at the worst possible time, making it impossible for me to buy back the half of my holdings I lost."
"If you really want to buy back shares, there should be opportunities later,"
Su Yi said with a smile.
He knew that the good news released by the regulatory body during today's midday trading could not save the market.
Once the trend of a bull market collapse formed, it would be unstoppable.
Let alone the shares of 'LeEco' at its current price.
Even if the current price was discounted by 50%, 70%, or even 90%, there would be plenty of opportunities in the future.
Mr. Lin was still very optimistic about the future development prospects of 'LeEco' and said,
"I hope so. In a bull market, missing out feels even worse than losing money."
"I don't think so,"
Su Yi said.
"I'm still bearish on the market."
A surprised look appeared on Mr. Lin's face:
"Still bearish? The SSE Composite Index fell from 5100 points to today's intraday low, a drop of nearly 1000 points. This retracement, no matter how negative the news, should have been thoroughly digested. To continue being bearish... isn't that a bit irrational?"
"Our A-share market seems to have never been rational, has it?"
Su Yi chuckled, not saying anything more.
He glanced at the final profit figure of his trading account, felt that this profit had met his psychological expectations, and thus decided to end this round of margin trading.
After making the decision...
Su Yi sent a message to Chen Anya, stating that he no longer intended to continue margin trading.
Chen Anya replied with an 'Okay', meaning she would proceed with the corresponding declaration and settlement for Su Yi's index futures trading account.
"Oh my god, a fund size of 13.01 million? How much profit is this?"
When Chen Anya was processing the backend system declaration and settlement for Su Yi's index futures account, she suddenly saw a total of 13.01 million in funds in the account.
Her heart was instantly greatly shocked, and the expression on her face was one of extreme astonishment.
"This is... a profit of 7.01 million? He's only been using margin for a few days, how is this possible? How did he do it!"
She had been working at Yinghui Finance for quite some time.
Among the margin trading orders she had handled.
She had dealt with both small-amount margin trading clients and large-amount, million-level margin trading clients.
But to achieve such a level of profit when the margin trading business ended and the net asset value of the margin account was settled, she had not only never seen it but had never even heard of it.
What's more, she knew.
Su Yi had expanded his profits to this extent from an initial capital of 150,000 in just over a week.
This not only shocked her but also completely subverted her understanding.
Meanwhile, when Chen Anya began backend operations to declare the net asset value settlement for Su Yi's account.
Yinghui Finance, Trading Account Data Risk Control Center.
At this moment, on its main data control computer, a gray flag indicating "net asset value settled" popped up for Su Yi's index futures account.
Furthermore, risk control officer Xu Xiaopeng saw the final profit data presented by this index futures account, which he had previously monitored, and was equally greatly shocked, even disbelieving.
He remembered last week.
The manager had asked him to keep a close eye on this account, believing it had a risk of forced liquidation.
But he never expected that in just a few days, this account's profits would explode.
With an initial capital of 1 million, it made a staggering 7 million in profit within a few trading days.
This was not only unprecedented among the company's current outstanding margin trading accounts but also extremely rare when compared to the profit amounts of historical margin trading accounts in the company's trading account historical database.
What's more, considering the past two consecutive trading days.
Among the company's margin trading clients, countless accounts experienced forced liquidation, huge losses, or continuously had to replenish margin.
In comparison, this massively profitable and profit-taking margin trading account stood out even more.
However, despite Xu Xiaopeng's intense envy and surprise regarding this client who made seven times his profit in just a few trading days, he didn't intend to delve deeper into who this client was, or to covetously follow suit and participate in such speculative trading that either resulted in huge losses or massive profits.
After all, a margin trading account he had been following, which he thought belonged to his old classmate Su Yi,
had failed to survive the darkness before dawn this morning and was completely liquidated after two consecutive margin calls.
This also caused a strong impact on him, making him understand that money in the stock market is not so easy to earn.
Amidst their shock.
Approximately fifteen minutes after Su Yi applied for account net asset value settlement, Chen Anya informed him that the review of his account's net asset value settlement had been approved.
Subsequently, accompanied by Chen Anya, he completed the subsequent business procedures.
And according to the margin trading agreement he had previously signed with Yinghui Finance.
After deducting 200,000 in interest for 4 trading days, Su Yi received a total of 7.81 million in cash, including the 1 million principal, completing his accumulation of the first pot of gold.
(End of Chapter)