At 9:31 AM, just one minute after the market opened.
'Teli A' saw a surge in volume of over 300 million, and its stock price flash crashed from the daily limit to around 5%.
At the same time, influenced by 'Teli A's' rapid breakout from the daily limit and subsequent decline, many other popular leading stocks in major conceptual sectors across both markets also plummeted.
Even the major market indices, the Shanghai Composite, Shenzhen Component, and ChiNext Index, quickly fell, engulfing the gains from the high open.
"Holy crap, it broke the limit so quickly, is it going to replicate the trend of September 24th?"
Noticing that 'Teli A' had just opened, immediately hit the limit, and then fell back, Xu Qiao exclaimed in Su Yi's 'Magic City Ultra-Short Gang' main speculative capital internal group.
"It's impossible to replicate the September 24th trend, but a sky-earth limit... that's possible."
Old Zhang said,
"I knew opening with a one-word daily limit was never a good sign. Luckily, I sold quickly, otherwise, in an instant, the profits I gained would have to be given back by five or six points."
"Ah, the profit-taking pressure is too heavy, it really couldn't hold!"
Old Wu sighed lightly.
"Old Zhang, did you sell all your chips?"
Xu Qiao asked.
Old Zhang replied,
"If not now, then when? A high one-word daily limit breaking, there's no future for it."
"The funds that pushed it to a one-word daily limit at the open today are simply crazy."
Brother Chen also said at this moment,
"This one-word daily limit open is truly damaging."
"Such a huge volume."
Old Wu said,
"Rapid surge in volume, it seems the third wave of speculation is over."
As he spoke, Old Wu also quickly sold his chips at market price on 'Teli A's' trading screen, locking in profits.
Brother Chen nodded in agreement,
"Profit-taking flooded out, the entire chip structure has begun to collapse, sigh... too bad, it couldn't surpass the five-limit height."
"Are you all selling?"
Xu Qiao continued to ask.
Old Wu replied,
"I've already sold most of my chips. Looking at this market trend, it's hard for the bulls to reverse the decline. There's a high probability of a sky-earth limit. If I don't sell now, a 20-point drawdown could instantly wipe out days of profits."
As Old Wu spoke, 'Teli A's' stock price had further fallen back to a 3% gain.
In just three minutes, the drawdown reached 7%.
"Sell it, this should be the selling point."
Brother Chen's eyes were fixed on the rapidly changing trend of 'Teli A'.
"With such a huge volume, the profit-taking funds in the market are already all selling off. The internal chip structure is disintegrating, and the market's support will only get weaker. It's impossible for it to close at the limit again."
"This kind of rapid sell-off after breaking the limit, especially at a clear high point, funds without a cost advantage probably wouldn't even dare to expect it to close at the limit again, right?"
Old Wu also responded,
"Once the accumulated profit-taking pressure from consecutive days is fully unleashed, there will be no room for maneuver."
"Ah... I didn't expect it to only reach a five-limit height."
Xu Qiao sighed.
Seeing 'Teli A's' stock price fall back to a 2.5% market gain, and with the main selling pressure still aggressively dumping shares, Xu Qiao also had no choice but to offload all the chips he held.
"'Meiyan Jixiang' is still rising!"
Just as everyone was selling 'Teli A' chips, Old Zhang's gaze shifted to the trading screen of 'Meiyan Jixiang' and he said anxiously,
"Will there be a 'high-low switch', a time for history to repeat? This round, 'Meiyan Jixiang' is being led by Alliance Leader Zhang."
"No way, right?" Old Wu said, "If the leading stock can't open up space, can the follower stocks still successfully take its place?"
"'Meiyan Jixiang' has too large a circulating share, with heavy trapped selling pressure above. If we're talking about upward pressure..."
Brother Chen said,
"I feel 'Teli A's' upward pressure is still lighter. I'm not optimistic about the market development of 'Meiyan Jixiang'. Even if Alliance Leader Zhang is leading the charge, it will be difficult to achieve consecutive daily limits under such heavy trapped selling pressure."
"'Yishang Exhibition' also broke its limit and plunged."
After selling off his chips, Xu Qiao observed the market and continued.
"'Teli A' breaking its limit has brought down many stocks in the market."
Old Wu said,
"The major market indices across both markets have already swallowed all the gains from the open and are starting to turn negative."
"'Chuansheng Jiuzhou' has already turned negative."
Old Zhang replied.
Brother Chen continuously observed the capital movements on the market and said,
"It feels like funds are converging towards the 'lithium battery' sector. It's strange, with market sentiment reversing and the market rapidly plunging, the 'lithium battery' sector has surprisingly become the core sector for various funds seeking refuge. I really didn't expect that."
"Exactly, 'Duofuduo' is actually rising against the trend, what the heck?"
Xu Qiao said.
"Today's market, I can't quite understand it."
Old Wu said,
"But 'Meiyan Jixiang' has already started to run out of steam, it can't be pulled up anymore."
"The entire market is still watching the performance of 'Teli A'."
Old Zhang sighed.
"It's all following the market trend of 'Teli A'."
Xu Qiao said,
"Ah, I feel today's market trend is doomed, it will most likely close with a big drop."
"The overall market sentiment in both markets is rapidly reversing."
Brother Chen said,
"At this moment, you must control your hand and not blindly buy stocks."
Along with the rapid refresh of messages in the group and the continuous advancement of trading time.
At 9:38 AM, just 8 minutes after the official opening of both markets.
The market volume of 'Teli A' had surged to a scale of 800 million, and at the same time, its stock price had fallen back from the daily limit to a 2% gain, dropping by 8 percentage points.
However, after the significant pullback in stock price.
At this point, 'Teli A's' intraday volume had noticeably shrunk compared to before 9:35 AM.
The profit-taking selling on the market was no longer as urgent and aggressive as it was at the open.
"Huh... why does the intraday volume feel like it's diminishing?"
At this moment, Li Jinshi, who had also sold off all his chips from the 'Foshan Faction' main speculative funds, stared at 'Teli A's' market trend in their internal group, always feeling like he had made a mistake in selling.
"Those who should sell, probably have all sold, so how could the intraday volume not diminish?"
Chen Guiyun replied.
Li Jinshi said,
"That shouldn't be the case. If everyone who should sell had sold, it's impossible for the market volume to only surge to 800 million. I have a feeling... the funds from 'Financial Street Fuxing Road' are still in a locked-up state."
"No way, right?"
Chen Guiyun said,
"Wasn't that huge volume selling pressure at the open from the 'Financial Street Fuxing Road' funds?"
"The intraday volume is indeed diminishing."
Liao Guoxiang stared at 'Teli A's' market for a while and said,
"It's really strange, it feels like it can't fall further. Logically speaking, with concentrated profit-taking selling in the market and so much net outflow from main funds, the stock price should already be in deep waters."
"This volume performance, with a very high probability, means 'Financial Street Fuxing Road' hasn't left."
Li Jinshi said firmly.
Liao Guoxiang's eyelid twitched, and he also felt like he might have sold wrongly:
"Volume diminishing, stock price not falling, it's somewhat like the market has found support. This kind of trend... could it still close at the limit again?"
"How could it possibly close at the limit again?"
Chen Guiyun said,
"The entire market's investment sentiment has already started to collapse, it's reversing."
However, no sooner had Chen Guiyun finished speaking.
Unexpectedly...
'Teli A's' stock price only lingered briefly at around a 2% gain.
Then, it was suddenly violently pushed up by a continuous large buy order of 5,000 lots, and in just a few minutes, it rose back above a 5% gain.
Moreover, just as Li Jinshi had guessed.
At this moment, Su Yi gazed at 'Teli A's' market trend, and indeed, his chips remained completely untouched amidst 'Teli A's' opening breakout and subsequent decline, still in a locked-up position.
"With continuous follow-up by main funds to trade, it means this stock isn't dead at this position!"
Su Yi smiled as he watched 'Teli A's' stock price return to a 5% market gain, thinking to himself,
"The market's support at this level is clearly stronger than on September 24th. As long as the stock price doesn't hit a new low, the expectation of it closing at the limit again will quickly materialize."
He had originally thought that 'Teli A' today, under the immense profit-taking pressure in the market.
Would at least have to fall into deep waters to alleviate the concentrated profit-taking pressure.
But he didn't expect...
The profit-taking in the market only caused an 8-point drop before it couldn't fall further.
Of course, this doesn't mean the profit-taking wasn't aggressive; an 800 million sell-off in 8 minutes is already very aggressive.
It can only be said that... under the stock's extremely high market attention and discussion popularity.
The retail investor groups following and taking over, and other short-term main funds relaying.
Were simply too numerous, too many.
They completely absorbed the chips from the concentrated profit-taking in the market, defusing this flood-like selling pressure.
Thinking this, Su Yi not only did not sell his chips at this position but instead used the available funds in his account to continue buying 'Teli A's' stock chips, helping the stock stabilize the market, once again create the expectation of closing at the daily limit, and also helping the stock cross the five-limit pressure barrier.
Under his buying support.
And with the continuous buying support from various other retail investor groups and main fund groups.
After 'Teli A's' stock price surpassed a 5% gain, it only briefly pulled back a little before continuing its volatile ascent, and at 9:53 AM, it returned to the 7% gain mark.
Afterwards, everyone saw its stock price rebound.
They saw that the net outflow of main funds on the market was clearly curbed, and noticed that there were more and more large buy orders.
All of a sudden, market expectations and sentiment also began to reverse.
Funds that were previously extremely bearish or dared not enter to support, at this moment, finding the stock to be extremely resilient, began to change their views one after another.
Many profit-making funds in the market that had not yet had time to sell.
At this moment, also clearly became reluctant to sell.
And many retail investor groups who had hesitated at the intraday low, missing a good buying opportunity, at this moment, couldn't help but sigh with regret, and began to chase the high to enter the market.
With more and more funds following suit and entering to support the market.
And with more and more funds holding positions in the market becoming reluctant to sell again.
The bull-bear forces on 'Teli A's' market, as trading time further progressed, completely shifted back towards the bullish direction.
At 10:07 AM, under this shift in bull-bear forces, 'Teli A's' stock price at this moment returned to the 8% gain mark, once again showing its desire to hit the daily limit.
(End of Chapter)