He couldn't understand why the market suddenly crashed at the close, especially with no negative news.
Moreover, with such a brutal decline where 'hundreds of stocks hit their daily limit down', if there isn't new positive market stimulus tonight, tomorrow will likely see a lower open to digest today's end-of-day panic.
"Sigh..."
Thinking of this, he turned his gaze back to his account, saw the newly added intra-day loss of over 300,000, and sighed helplessly, saying,
"It seems this adjustment for the Shanghai Composite Index will probably have to test the support at 4200 points before it can reverse."
"It shouldn't be that bad. The sell-off at the end of today was mainly due to short-term funds that bottom-fished on Tuesday taking profits,"
Said another middle-aged man in a plaid shirt.
"The market's inherent bull trend hasn't been broken. Maybe tomorrow the index will break through with another large positive candlestick."
"Let's hope so!"
The middle-aged man who spoke earlier responded, then turned his gaze to Su Yi and smiled,
"Little brother, you've made quite a profit on your positions today."
Su Yi exited his trading account.
Standing up, he replied with a smile,
"It's just unrealized gains. Maybe it will drop back down by tomorrow's opening."
"It won't fall back completely,"
The middle-aged man said.
"It's highly probable that the market will open lower tomorrow due to inertia, but yours is a counter-trend trade, and having earned so much, it's very necessary to take profits in time."
Although he was very surprised and astonished that Su Yi could earn so much today.
However, deep down, he still believed that Su Yi's earnings today were entirely due to luck, not replicable, and had no reference value.
Su Yi was somewhat grateful for the middle-aged man's kind reminder, and couldn't help but nod slightly, saying,
"Thank you for the reminder, senior. If the unrealized gains reach my target, I will definitely take profits in time."
The two chatted as they walked out of the trading room.
After arriving at the downstairs branch lobby, Su Yi saw that the man from the trading room, with whom he had a brief chat, who looked to be in his forties or fifties, dark-skinned, and dressed casually, was actually personally escorted to a Rolls-Royce parked outside the branch by the stock brokerage business manager of this branch.
Su Yi's curiosity about the man's identity grew.
"Mr. Deng, do you often come to the VIP trading room of the branch to trade?"
Su Yi turned his gaze back to the middle-aged man beside him, whom he had just gotten slightly acquainted with, and asked.
Mr. Deng replied,
"If the company isn't too busy, I'll come over and sit for a while."
"Do you know that senior who just got into the Rolls-Royce?"
Su Yi continued to ask.
Mr. Deng glanced out of the branch lobby and said with a smile,
"You mean Mr. Qiu? Of course I know him... just not very well. Actually, anyone who spends a decent amount of time in this branch's VIP trading room will get to know Mr. Qiu. But Mr. Qiu doesn't come often anymore. This month, counting today, I've only seen him twice."
"Mr. Qiu?"
Su Yi's eyes still held a question.
Mr. Deng continued to explain,
"You must know about the 'Dragon and Tiger List' seats in the market, right? Usually, this branch where both of us are, is Mr. Qiu's exclusive trading seat."
"This branch is Mr. Qiu's exclusive trading seat?"
Su Yi was greatly startled.
"Is Mr. Qiu the 'God of A' from 'Fuxing Road' on the Dragon and Tiger List?"
"Yes,"
Mr. Deng nodded.
"In the circle of speculative capital in the market, people seem to call him that."
"It really is him!"
An excited expression appeared on Su Yi's face.
No wonder he felt somewhat familiar with the person.
It was because, in his memories before rebirth, he had conducted systematic analysis of their operating styles and collected data on these top speculative funds that had created investment miracles and compound interest legends in the domestic market, all for the purpose of studying various trading techniques.
Of course, before his rebirth.
He had only seen photos of this 'God of A', but never met him in person.
So, when he met the person in the trading room earlier, he only felt a slight impression but didn't recall the person's specific identity or background.
Mr. Qiu, who holds the title of 'God of A' in the domestic speculative capital circle.
Su Yi knew his real name was Qiu Guoyu, and he was one of the earliest veteran speculative capital bigshots in the history of A-share development.
His main period of activity was between 1998 and 2010; after that, he rarely appeared on the Dragon and Tiger List for the two markets.
Su Yi also heard that this 'God of A' had failed in stock trading and went bankrupt twice in his early years.
At one point, when he was poorest, he couldn't even afford to buy a newspaper.
Finally, his mother believed in his abilities and, at all costs, lent him 100,000 in high-interest loans to continue trading stocks, and then... things spiraled out of control.
He created a legendary stock trading journey, building 10 billion in wealth from an initial capital of 100,000.
Furthermore, Su Yi also heard that during his trading peak from 2005 to 2008, his annual trading volume alone reached a staggering 20 billion to 30 billion, accounting for almost half of the total annual trading volume weight of the branch where his trading seat was located.
"Actually, many people who come to trade in this branch's VIP room are also here because of Mr. Qiu,"
Mr. Deng paused and continued,
"It's just that even when Mr. Qiu comes to the trading room sometimes, he never analyzes market trends, never recommends or promotes stocks, which leaves many who come for him somewhat disappointed."
Su Yi said,
"What determines account profits and losses has always been dependent on one's own understanding. Even if one temporarily earns certain profits by relying on others' guidance or by copying others' homework, they will eventually return everything to the market based on their own understanding and ability."
"If you understand this point, you're not a market novice,"
Mr. Deng said, quite surprised.
In stock trading and investing.
Account profits and losses primarily depend on self-awareness and the two principles: 'money earned by luck will always be lost by skill'.
Many investors know this, but truly understanding it and acting according to these two points is rare among investors.
Su Yi smiled faintly and said,
"Compared to a senior like you, I'm definitely a novice."
Mr. Deng thought of Su Yi's 20 lots of stock index futures short positions and the surging profit of over 1.7 million in his account, and found the word 'novice', spoken by Su Yi, particularly jarring.
After their conversation and interaction.
He no longer believed Su Yi's claims of being a 'stock market newbie' or 'investment novice'.
In fact, the more he thought about it, the more he felt that Su Yi had unique insights in his heavy shorting of stock index futures and his bearish view on the market.
He also increasingly began to doubt... if there was a problem with the market's bull market logic?
Had the market's fundamentals and trend truly begun to reverse?
Amidst his doubts.
Sure enough, the next day, Friday, June 26th.
The entire market, influenced by yesterday's panicked sell-off at the close, opened lower across the board and plunged immediately at the opening!
(End of Chapter)
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