Chapter 74: The Third Thousand Stock Limit-Down
"Gan Yitong, you son of a bitch, did you know about the market rescue today? Did you know that my stocks are about to hit the daily limit? Why did you freeze my account?!" Liu Bin pointed at Gan Yitong and cursed him.
Gan Yitong lay behind the boss's desk, clapped his hands lightly, and shouted, "Huzi, Liangzi, come over here and explain to Young Master Liu."
Zhang Liang and Wang Hu had come over after hearing the noise. Both of them were tall and strong, like two iron towers. They stood in front of Liu Bin, looking down at him condescendingly, with unpleasant expressions on their faces.
Liu Bin's heart tightened involuntarily, and the anger in his heart suddenly subsided. He asked, "Why did you freeze my account?"
Wang Hu rolled up his sleeves and said, "Company regulations stipulate that the financing ratio should not be less than one to four. Just now, Mr. Liu, your account has reached the forced liquidation line, so the system has naturally frozen your account."
"Mr. Liu, you just hit another limit-down. Your total capital is now less than 20 million. I advise you to close your position and leave as soon as possible. You can still have a few thousand or a few hundred yuan left to buy food. Otherwise, hmph, there will be nothing left!"
Zhang Liang rubbed his fists and said, "We're doing this for your own good. Don't be ungrateful!"
Gan Yitong stared at the broken door, the scars on his face knotting. He shouted, "Liu Bin, if you have money, pay the deposit. If you don't, just get out!"
Hearing this, Liu Bin's anger rose again and he said, "No money? How could I be without money?! I have plenty of money!"
As he spoke, he tossed out a bank card and said, "I still have two million in it, is that enough?"
Zhang Liang glanced at Gan Yitong and said, "That's enough. However, I advise you to find an expert to help you trade stocks. You can't do it. You don't know how to do it."
"I can't do it? I don't know how? Why can't I?! It's my money, it's none of your business! I have transferred the money, please unfreeze my account immediately!" Liu Bin looked crazy, took out his mobile phone and transferred the money in.
Gan Yitong tapped the keyboard lightly, unlocking his account. He then said, "For the live competition, the two million yuan deposit will be deducted. Young Master Liu, be careful."
"Stop pretending!" Liu Bin turned his head and went downstairs, entered the trading room, and sat down in front of the computer in a hurry.
However, it was discovered that Yin Zhijie was stuck at the lower limit again.
what to do?
what to do?
The rescue efforts proved ineffective. The Shanghai Composite Index plummeted another -3.34%, a 139-point drop, breaking through the 4,000-point mark intraday. The ChiNext Index suffered even worse, plummeting another -7.91%, or 230 points. A total of 1,578 stocks in both markets hit their lower limit! Thousands of stocks hit their lower limit again! This was the third time thousands of stocks had hit their lower limit, and investors were paralyzed by the decline.
Why?
Why doesn’t rescuing the market work?
Liu Bin rubbed his head vigorously and frantically refreshed the news on major stock forums, over and over again, time and time again, hour after hour.
Finally, in the afternoon, a bombshell piece of news broke: "ZJH reassured the market, stating that the risk of forced liquidation of margin trading in the market was low, and that there was still room for further growth in financing."
It seems that the previous rumors of a series of leverage defaults have been completely refuted.
Liu Bin looked at the news and suddenly became manic. He thought to himself:
"They rescued the market last night, and rescued it again this afternoon. It seems this bull market is trying to turn into a bear market, and the government won't allow it! 4,000 points is the starting point of the bull market. I'm not kidding, we really need to implement it! If one good news doesn't work, then two. If two don't work, then four. Sooner or later, the market will be pushed back to 5,000 points! And then to 10,000 points!"
"The market is now numb to good news. There will definitely be even stronger good news tonight. I must make good use of my judgment!"
Liu Bin's eyes were bloodshot and he looked crazy. He gritted his teeth and went all-in on Yin Zhijie at the lower limit.
"I just don't believe it. You keep falling every day. You can still fall every day?!"
The stock friends in the major stock forums wailed, waited, and speculated. Finally, the night came and the good news that everyone had been looking forward to arrived. The force was unprecedented, and there were three of them at once.
First, ZJH stated: The decline in stock prices is just an adjustment to the rapid rise, and a rapid correction is not conducive to the healthy development of the stock market.
Article 2. The Ministry of Human Resources and Social Security and the Ministry of Finance issued: "Draft for Soliciting Opinions on the Entry of Pensions into the Market", pensions are about to enter the market!
Article 3: Insurance companies have subscribed to public funds worth tens of billions of yuan.
Liu Bin smiled. His judgment was indeed correct. He could just wait to eat meat tomorrow!
In the forum, stock investors also breathed a sigh of relief, posting praises and encouraging each other, hoping that tomorrow's stock market will have a good increase and a good harvest.
Zhao Xinyue's heart began to pound as she looked at these three positive developments. She licked her lips, looked at Li Feng, and said, "Li Feng, these are three positive developments. Should we enter the market?"
Lin Menghan also turned her head and looked at Li Feng to see what he thought.
Li Feng read it carefully and shook his head again:
"When a bear market arrives, the more positive news there is, the bigger the trouble in the market. The index and individual stocks will continue to fall. It's only been a dozen days, how can you not control your hands? Buying the bottom in a bear market is like catching a falling knife. Every time you catch it, you get hurt. Either your hand or your foot will be broken."
"Let's break 4,000 points first," Li Feng concluded.
"It's going to break 4000 points?" Zhao Xinyue stuck out her tongue and pointed at the K-line chart of the Shanghai Composite Index. She was a little bit unbelievable. 4000 points is the recognized starting point of the bull market.
"Xinyue, I've said this many times before. This kind of close-in-time key point will definitely be broken!" Li Feng said, looking at Lin Menghan, "Just like in 2012, the 2000 point mark was bound to be broken. It's the same principle."
Upon hearing this, Lin Menghan lowered her head thoughtfully.
Tuesday, June 30th.
Amidst everyone's anticipation, the stock market opened. The Shanghai Composite Index opened lower at 4006 points as per inertia, but stubbornly held the 4000 point level without breaking it, which made countless investors breathe a sigh of relief.
However, the joy lasted only a few seconds as the Shanghai Composite Index plummeted below 4,000 points, plummeting all the way to 3,847 points! The ChiNext Index plummeted from 2,566 points at the opening to 2,485 points. Both markets were in the red, and the number of stocks hitting the lower limit soared to over 1,000.
Is this the fourth time that thousands of stocks will hit the daily limit?
Could it be that even with all three good news coming out at once, they are no longer effective?!
Boundless panic began to spread in the stock market. Countless investors fled in desperation. Rumors also began to spread in major stock forums.
Some say the chain reaction of margin trading has caused a liquidity crisis for major brokerages, leaving them with no money and facing bankruptcy. Others say the Shanghai Composite Index has fallen over 1,000 points in just two weeks, suggesting that hostile foreign forces are shorting the stock market. Still others say...
There are many different opinions and no consensus.
However, all this has nothing to do with Liu Bin.
Because, on June 30, Yinzhijie opened at the lower limit, and his account was frozen again.
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