Chapter 272 [Who is not to be cut? Who is not to be covered? 】
Monday.
Today, the Shanghai Composite Index came to an end after a consecutive five-day positive attack last week. It opened lower in early trading and dived lower. The downward attack force was strong. It fell below the 30-day moving average in one fell swoop. Compared with the previous trading day, the volume and energy were enlarged.
, the short side occupied a strong position today, and funds from all walks of life fled one after another.
After Tiansheng Holdings reached a record high last Friday, it began to fall after the opening of the market today, reaching the lowest level of 100 yuan, with a drop of %. Everyone felt relieved when they saw that Tiansheng Holdings fell.
Zhong Xin has lived up to expectations as always. If you sing too much, you will fall.
However, after Tiansheng Holdings hit the 5-day line, it began to bottom out and rebound. However, other securities stocks in the securities sector were a bit miserable. When Tiansheng Holdings, the leader of the sector, stayed with it until the end, it fell even more severely, while Tiansheng Holdings
When it rebounded, the brokerage stocks said that I can lie down and don’t move, brother, you can do whatever you want.
In terms of the index, around the 10-minute mark, it encountered resistance when it fell out of the early gap. The decline reached % and found support at this position. Then it stopped falling and stabilized, started to rebound slightly, and maintained sideways fluctuations to end today's market.
The current market hot spots are basically unsustainable. The accelerated rotation speed of sectors not only makes it more difficult for small funds to operate alone, but the money-making effect of hot money and private equity is actually declining. As can be seen from the sectors that have recently received financial attention, it can be seen that currently
Mainstream funds focus on high-quality blue chips and defensive sectors with good performance, which is also a reflection of the risk aversion mentality of funds in the current market environment.
At this moment, Lu Ming remained silent for the most part, while other participants participated in the discussion.
"Today the market has bottomed out and rebounded, with a low of 3357 points and a closing of 3390 points, a drop of 26.2 points. The Shanghai Composite Index fell %, and the ChiNext Index fell %. The trading volume in the two cities was 550 billion. The number of individual stocks was 26 at the daily limit and 30 at the daily limit."
"From a time point of view, the GEM index has turned downwards, the Shanghai Composite 50 has shot up and fell, the market structure has further differentiated, and only a small number of weighted blue-chip varieties have maintained a volatile upward rhythm."
"The three major indexes all pulled back today, and a negative line ate up the gains accumulated over the week. The market's profit-making orders instantly turned into hold-up orders, and the market's money-making effect was directly negative. On the one hand, the volume and energy are not coordinated with the index, and the internal
The lack of momentum has put pressure on the index that has been hovering at high levels for a long time. Currently, there is insufficient liquidity and most of them are severely drained by blue-chip heavyweight stocks."
"Another reason is that next month we will face 15.9 billion yuan in unblocked stocks, corresponding to a market value of 257 billion yuan. In December, the number of restricted stocks to be released is as high as 36 billion, corresponding to a market value of about 416.1 billion yuan. In the next two months, we will face about 6,700 yuan in unblocked stocks.
Hundreds of millions of dollars of selling pressure, when viewed from this aspect, the pressure faced by the market makes the future market not look optimistic."
"Yes, this is the expected news that has been disclosed. The greater selling pressure is the expected withdrawal plan of Tiansheng Capital, which corresponds to a market value of 750 billion, which is a selling pressure of 1.42 trillion. I really don't know if the market can bear it.
How can we handle our evacuation plan if we can’t withstand such huge selling pressure?”
…
After everyone discussed for a while, Xue Zhongming, the resident director of the participating institution, looked at Lu Ming and said: "Chairman, shouldn't the news of the paid transfer be sent out while the market is falling now?"
The market has fallen today. Sending out this bad news is tantamount to exhausting all the bad news and giving the market a signal that risks have been released.
This large-scale paid transfer will definitely lead to extensive interpretation and various speculations in the market.
Whether the paid transfer is a negative or a positive on the surface depends on the guidance of public opinion. However, it is inevitable to cause market turmoil, and the time window for releasing the news is also very important.
, it is not sent out casually.
"No rush." Lu Ming shook his head and said solemnly: "The selling pressure of RMB 670 billion from the lifting of the ban seems huge, but it is mainly in the small and medium-sized startup sector. The National Securities 2000 Index has ended its rebound and entered a downward channel. The pressure to reduce holdings of high-quality blue-chip stocks is actually very small.
, mainly from our more than 700 billion yuan and the more than 200 billion yuan from foreign capital, so our main contradiction is to deal with the escape of foreign capital."
670 billion of banned stocks are released, large and small non-profit companies are reducing their holdings, small and medium-sized listed companies, even their own corporate executives and bosses are all trying to cash in, let them go wild, those companies in the future will have no future, no performance, and no growth potential
All small and medium-sized companies with market capitalization will become penny stocks without any financial attention.
Lu Ming added: "The Federal Reserve will make public the minutes of its interest rate meeting at the end of next month, which should give signals about interest rate hikes. This expectation will most likely trigger the withdrawal of foreign capital, lifting banned stocks, paid transfers, and the U.S. dollar interest rate hike.
The release of several big news together will definitely cause the market to experience a sharp drop. If the news is piled up, all the negative news will be eliminated. The market will feel at ease after the sharp drop. If all the negative news is eliminated, the market will not fall sharply, but will at most consolidate.
Well."
Another participant said: "Foreign capital is too thief, and the profit margins are huge. If the signal of a U.S. dollar interest rate hike is given, they will probably run away first."
Hearing this, Lu Ming couldn't help but smile and said: "It doesn't matter, just run away. It doesn't matter. Let them run in November, and then set them up in January next year. Wouldn't it be better?"
Well……
Lu Ming continued: "The current blue-chip weight trend is accelerating for the second time. It will most likely take more than a month to digest these bad news after they land. At the end of December, the trend will be accelerating for the third time, even more severely.
I don’t believe they won’t get back the empty foreign capital!”
As soon as the U.S. dollar interest rate hike signal comes out, foreign capital will definitely withdraw with profits.
But then again, foreign investment is just a general term, and foreign investment can be divided into many categories, including European ones, American ones, profitable ones, new entrants, etc.
New foreign capital will continue to enter the market. Lu Ming does not care about the identity of foreign capital. He only looks at the total net inflow/outflow. Calculating detailed accounts is a small picture, but calculating the general ledger is the big picture.
Foreign capital does not care about its identity. Who is cut off from? Who is cheated is not cheated?
Xue Zhongming, who attended the meeting, said: "How to ignite the third acceleration of the market?"
Lu Ming's words were concise and to the point: "Let the company's annual report serve as a guide."
Xue Zhongming nodded: "I understand!"
…
At around 19:00 in the evening, a piece of news about Tiansheng Capital attracted the attention of the market, especially the attention of small capital investments.
Online sources claim that Tiansheng Capital plans to issue convertible bonds with a total amount of 30 billion yuan and is currently actively promoting the plan.
If Tiansheng Capital's convertible bond is successfully listed, it will become the largest convertible bond issued by Big A in history. The largest convertible bond currently on the market is 7 billion.
This news attracted a lot of attention soon after it appeared, but Tiansheng Capital officials did not comment on the news.
Although the news about Tiansheng Capital's debt raising is unreliable, it is certainly not groundless.
Many investors have become restless, especially ordinary retail investors who cannot afford to buy Tiansheng Holdings. When they saw this news, their eyes lit up.
In the eyes of many small and medium-sized investors, Lu Ming has opened a convenient door for those small investors in the market who want to buy Tiansheng Holdings but cannot afford it.
Because the initial face value of the convertible bonds issuance price is 100 yuan, basically everyone can afford it. Not only can you speculate in T+0 convertible bonds, but you can also convert debt into stocks if you are optimistic that the stock will rise sharply in the future.
For example, if a small retail account only has 20,000 to 30,000 yuan, it is a no-brainer to buy stocks. Now each hand costs more than 1 million yuan.
But he can buy Tiansheng convertible bonds, and the convertible bonds can be converted into company shares at least six months from the date of issuance. Then this small business can buy more than 100 Tiansheng convertible bonds, and then convert the bonds into shares.
shares, so that his trading account can hold 1 share of Tiansheng Holdings stock.
But he can either keep holding this one share, or he can only sell it, but after selling it, he cannot buy one share, because the trading rule of Big A is that the minimum purchase is 1 lot, which is 100 shares.
.
The minimum selling price is 1 lot, which is 100 shares. If the position is less than 100 shares, it cannot be sold in batches and can only be cleared and sold at once.
After a share is sold, it is sold to the market to participate in the bidding. When others buy it, this share will be combined with the other 99 shares in the market to form the lowest lot and be bought and traded by another investor.
In general, if Tiansheng Capital issues convertible bonds, it will give retail investors with small funds an opportunity to indirectly buy company stocks through debt-for-equity swaps.
So as soon as this so-called online news came out, everyone was itching.
