The market opening with such a sharp decline caused a cloud of panic to continuously hang over everyone's hearts.
At this moment, no one was mentioning a bull market anymore, nor were they saying it was a technical adjustment.
In the entire trading room, amidst the sounds that occasionally rang out, there was only complaining, only the helplessness of not understanding but having to respect the market trend.
Meanwhile, Lin and Deng were also present, after seeing the floating profit figures in Su Yi's holding account.
They uttered exclamations of surprise.
"My goodness, Brother Su, the floating profit in your account looks too exaggerated,"
Mr. Deng said, deeply shocked.
"An uninformed person would even think this is a demo account."
He knew that the profit and loss fluctuations of index futures were far greater than stocks, but he didn't expect them to be so exaggerated.
Of course, it wasn't just Su Yi's holding account that had such exaggerated profit and loss fluctuations; his own index futures holding account also had exaggerated profit and loss fluctuations.
Although he only opened short positions for two lots of CSI 500 index futures main contracts yesterday.
But thanks to the continuous sharp decline in the market.
At this moment, these two lots of his index futures main contracts had already brought him a profit of 330,000 in the terrifying plummeting trend of the market.
And facing the direct losses to his stock account caused by the market opening sharply lower across the board.
The holdings of these two lots of index futures main contracts in his hand, at this moment, could already fully hedge the losses in his stock account.
Su Yi heard Mr. Deng's words and responded with a smile,
"Compared to the two seniors, the capital size of my account is still not worth mentioning."
Although his account assets at this moment had reached over 16 million, compared to the two magnates whose single stock account assets reached tens of millions, or even hundreds of millions,
in the financial market, he could still only be considered a minor player who just barely met the threshold for a major investor.
"Brother Su, do you think it's still suitable to short index futures at this moment?"
Seeing millions in new losses in his account for the day, Lin Minghui's expression was downcast.
Taking advantage of the market not having officially opened yet, he couldn't help but turn his gaze to Su Yi and ask,
"How about continuing to short at this level?"
Su Yi thought for a moment and responded,
"I'm not sure, but if I were operating myself, I wouldn't continue to chase short positions at this level."
The complete lack of market liquidity will inevitably lead to the occurrence of systemic financial risks.
And to prevent such risks, the regulatory authorities will absolutely not allow the market to continuously plummet unchecked.
In fact... according to Su Yi's past memories from before his rebirth, he knew that the regulatory authorities did indeed take many market-saving measures later on to avoid systemic financial risks caused by the continuous sharp decline of the stock market.
In other words, the implementation of market-saving measures will inevitably lead to huge market volatility.
This brings great trading risk to chasing short positions in index futures.
After all, index futures themselves carry 12 times leverage.
With such high leverage, if the timing of entry is wrong, even if the direction is correct, it's still possible to be caught in huge volatility and forced to stop loss or liquidate.
Therefore, even if Su Yi was absolutely confident, he wouldn't recommend the other party to chase short positions in index futures.
Of course, he would certainly not express clear bearish or bullish views to guide the other party to go long or short.
As for the other party wanting to follow suit after seeing his positions, that was beyond his control.
After all, he couldn't possibly cover his account and prevent others from seeing it.
Besides, index futures are not like stocks whose trends would change due to others following suit, ultimately affecting his profits.
"Alas..."
Lin Minghui heard Su Yi's words and continued to sigh heavily.
He wanted to short index futures to hedge but was afraid of a market rebound.
He wanted to reduce his stock holdings, cut his losses, and exit, but was clearly unwilling.
As he hesitated.
The market had already entered the official continuous auction trading phase.
After all indices plummeted at the open, they all plunged like lightning for a period, then continued to release some panic selling pressure, and then, under the influence of bottom-fishing capital, gradually rebounded with volatility, attempting to repair the intraday decline.
However...
Because the panic selling pressure in the entire market was too immense, the bottom-fishing capital simply couldn't absorb it.
Consequently, with bottom-fishing capital flooding in but failing to effectively pull up the broader market and thus failing to create a profit-making effect, the index rebound only lasted for a short dozen minutes, and the phenomenon of 'longs killing longs' through stampede selling began to dominate the entire market situation once again.
And due to the lessons from last Friday's trend.
This time, investors, seeing that the market trend was wrong, their selling actions also became more decisive.
At the same time, the market's panic stampede also came more fiercely.
At 10:00 AM, just half an hour after the open, the market had already formed a unilateral sharp decline.
At 11:00 AM, the Shanghai Composite Index's decline expanded to 5%, the ChiNext Index's intraday decline reached 6%, and market liquidity, under a massive volume of selling stampede, again faced exhaustion.
At 1:20 PM, the Shanghai Composite Index directly broke through the 7% decline mark, consecutively losing the three major bull strongholds of 4100 points, 4000 points, and 3900 points intraday.
At 1:25 PM, the Shanghai Composite Index's decline reached 7.5%.
Meanwhile, the ChiNext Index's decline once again touched the 8% mark, and CSI 500 index futures main contracts again hit the daily limit down.
Thousands of stocks in both markets hit the daily limit down, even earlier than last Friday.
Seeing thousands of stocks hitting the daily limit down again in the market, seeing the ChiNext Index almost hitting the daily limit down again, seeing over 1800 stocks with almost no active buying...
In the hearts of most investors.
At this moment, it was no longer just despair, but rather a pervasive sense of numbness.
Many people, facing accounts filled with stocks at the daily limit down, no longer thought of placing sell orders to scramble for the meager buying liquidity.
Instead, they angrily cursed a few times in helplessness, helplessly closed their trading software, and completely gave up on the stock market and the bull market.
Even many aggressive investors who had leveraged up and engaged in margin trading.
At this moment, many people, facing accounts that had fallen below the forced liquidation warning line or were infinitely approaching the forced liquidation line, no longer anxiously or frantically tried to raise funds everywhere to supplement their margin.
Instead, they sat quietly in front of their computers, bitterly and numbly watching their accounts gradually touch the forced liquidation line, watching the wealth they invested in the stock market slowly return to zero.
Under the continuous trend of thousands of stocks hitting the daily limit down, there was no one anymore who still held out hope for a bull market.
In everyone's hearts.
At this moment, the two words 'bull market' had become a nightmare that terrified them immensely, had become the sharp blade that rapidly harvested the wealth in their hands.
However, when you are completely disappointed with the 'bull market,' or even completely give up hope.
Thinking that even if your principal returns to zero, you would break ties with the stocks in your hand and completely draw a line.
The 'bull market,' this scumbag, would always at this moment suddenly release some tenderness towards you, tell you some sweet words, make you believe he has truly repented, and even rekindle your hope in him.
Just like at this moment, when everyone was utterly desperate and had begun to completely give up on the 'bull market'.
Around 1:40 PM.
In an extremely dire situation where the market had completely lost liquidity, with a total of over 1600 stocks locked at the daily limit down.
In the blue-chip sector of the main board, a host of central state-owned enterprises (SOEs) and state-owned enterprise (SOE) concept stocks, numerous banking, insurance, securities, infrastructure, oil, and chemical stocks, suddenly saw an extremely massive wave of active buying.
Massive buy orders of tens of thousands of lots instantly flooded the market.
Hundreds of millions, billions, even tens of billions of main buying capital began to forcefully push these blue-chip stocks upwards.
Subsequently, at 1:45 PM, under the strong support of this extremely massive mysterious capital, the Shanghai Composite Index's decline rapidly recovered, and the market in both cities, which had lost liquidity, gradually warmed up.
Suddenly, many stocks opened their daily limit down, and various bottom-fishing capital also swarmed in again.
Su Yi watched as the mysterious capital began to forcefully prop up the market with real money and began to massively save market liquidity, knowing that the regulatory authorities were getting anxious.
But relying only on blue-chip stocks like central SOEs and SOEs, and only boosting the Shanghai Composite Index on the main board.
Can it really save the broader market at this moment?
(End of Chapter)
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