Chapter 80 The Fifth Thousand Stocks Limit Down
The stock opened at 12.02 yuan, down 2.67%. Just one minute later, a large order of 1,106 lots dropped the stock price to -8%, which scared Liu Bin to death.
“Sell! Sell! Sell!”
Liu Bin placed a sell order in a hurry and cleared his position at 11.72 yuan, a -5% position. Afterwards, Pitupi fluctuated around 11.60 yuan for several hours. After two o'clock in the afternoon, a large order of 10,653 lots directly blocked the limit down.
Liu Bin looked at the limit down and felt a sense of fear and relief. If he had not run away, he would probably have lost hundreds of thousands of yuan.
"Let's see what rescue policies are introduced today." As usual, Liu Bin lay on the chair, eating takeout and refreshing the stock forum.
In the evening, the good news arrived as expected, with five arrows fired at the same time.
First, ZJH stated that malicious short sellers must be investigated and punished according to law.
Article 2: More than 20 companies in Zhejiang Province jointly called for: jointly maintaining the capital market.
Third, Z Xiaochuan: Firmly hold on to the bottom line of preventing systemic financial risks.
Fourth, several major securities firms, including CITIC Securities and Guotai Junan Securities, raised the conversion rates of some stocks in response to calls for saving the market.
Naturally, all major stock websites and forums were bustling with activity.
"Thousands of stocks have hit the limit down! Why are there thousands of stocks hitting the limit down again? These days, the stocks I bought are either hitting the limit down or on the way to the limit down..."
"Save the market? What kind of market are you saving? You just shout slogans and don't contribute a dime. What's the point? Don't even think about tricking me back..."
"Brothers, what are we going to do tomorrow? I'm completely confused..."
"Let me tell you something. Tomorrow is July 3rd, an even or odd number, which represents the Qian Yang hexagram. Yang represents fire, and fire represents red. So tomorrow will definitely be a big rise!"
"Get lost! Do you believe it?"
"I don't believe it—"
"If you don't believe me, you're still talking nonsense here——"
"You can do it, go ahead—"
"Me? I don't dare anymore—"
There was silence in the trading room.
Zhao Xinyue looked at the Shanghai Composite Index in a daze. These 4,000 points were like paper, which could be broken at any time.
Lin Menghan looked at Li Feng.
Li Feng sighed and said, "At this rate, if we don't increase the amount of rescue measures, we won't be able to stop the market from reaching 3,000 points."
"3000 points?"
“It’s going to fall to 3,000 points?!”
Zhao Xinyue and Lin Menghan both took a deep breath, somewhat unable to believe it. If it really reached 3,000 points, it would continue to fall, and fall by several hundred points. Would it ever end?
Friday, July 3, 2015.
The Shanghai Composite Index fell 119 points, -3%, at the opening. Then, endless panic selling poured out. In less than an hour, the market plummeted to 3629 points, a drop of nearly 300 points. The deepest drop reached -7.14%.
Countless investors were stunned and at a loss.
At this time, mysterious funds entered the market and poured into large-cap stocks, pushing them up all the way. By 13:20, the market actually turned red, which again stunned the investors.
How come this multi-billion dollar market is easier to navigate than small-cap stocks? It goes up and down at the drop of a hat, as effortlessly as a swallow.
However, the joy did not last long. Starting at 13:45, a large number of sell orders poured in, and the market fell sharply by 3686 points at the close, down 5.77%.
The market dropped 225 points throughout the day.
A total of 1,475 stocks in the two markets hit the daily limit, marking the fifth time that thousands of stocks hit the daily limit!
Pitupi hit the limit down again! It dropped to 10.01 yuan.
In ten trading days, Pitupipi hit the limit down eight times, more than halving its stock price.
Liu Bin looked at the convex and concave lines, and felt a chill rising from his heart, which made his limbs cold, his hands and feet icy. He was extremely frightened and could not help but mutter to himself,
"Another limit down, the third in a row. Luckily I didn't buy, otherwise I would have lost over a million dollars. I finally understand. This stock market only goes down and never up. This stock market is like a Pixiu that eats but doesn't poop. This stock market is simply a hell that eats people without leaving any bones!"
"I don't want to play anymore. I don't want to trade stocks anymore!"
"But, can you return the money I lost?"
He groaned and was about to transfer the funds, but after holding the mouse, he couldn't click it.
"I...I'm not willing to accept this..."
"Maybe, maybe there is still a chance... I... I'll wait a little longer..."
Liu Bin loosened his hand again, just like a gambler who would not leave the table until he lost all his chips, hoping to make a profit.
In the Changzheng Securities branch next door, dozens of stockholders were stunned, staring at the LCD screen hanging from the ceiling, not moving at all, unable to believe their eyes.
"Why did the market plummet again?!"
"Why did my stock hit the limit down again?"
"Why, thousands of stocks hit the limit down again today?!"
An elderly stock investor with gray hair was heartbroken: "It's all gone, it's all gone. My savings and the money I borrowed have all gone. How am I going to live from now on?!"
As he was speaking, he suddenly fell straight down.
"Lao Qin! Lao Qin! Lao Qin, what's wrong with you? Quick, call 120, quick! Lao Qin is having a heart attack!"
"Quick! See if Lao Qin brought any quick-acting heart pills. Take one first!"
The stockholders were in chaos. Some supported Lao Qin, some started dialing 120, and some began looking for medicine in Lao Qin's pockets.
On the Internet and in major stock forums, investors' focus is no longer on stocks.
Because, everyone has lost a lot of money and is stuck.
Metaphysics cannot explain the current state of stocks. Conspiracy theories and institutional theories have taken their place and become an outlet for emotional venting in forums.
"There is definitely a conspiracy. There must be external forces shorting our A-shares. I ask the leadership to investigate in detail."
"This stock market keeps falling and never rising. It's all about eating and no shit. It's better to close it down soon! It's worse than a casino!"
"If you want to close it, close it sooner rather than later. That way I can save some money."
"Heaven and earth, which great god will help my A-shares stop falling and rise again?"
Looking through these posts, Li Feng sighed and felt a pang of regret.
In the stock market, bull markets are often the time when investors lose a lot of money, because in bull markets, boundless funds flow in the stock market, stock prices also rise, and most stockholders' accounts continue to grow, earning a year, several years, or even more than ten years' salary.
At this time, most people do not think about quitting while they are ahead, but instead believe that they have mastered the code to wealth and seen through the mysteries of the stock market.
Therefore, they will continue to increase their investment, using savings, wages, borrowing money, loans, and even leverage, trying every possible way to increase their capital, achieve financial freedom, and become multi-millionaires or even billionaires.
The result is predictable. Once the bear market comes, floating profits directly turn into floating losses, and most people are trapped at the top of the mountain.
The money earned by luck was finally lost by strength.
In the end, he was still confused and either blamed the hostile forces or the system problems. He did not reflect on his own problems or face up to his own shortcomings. This led to the fact that one day, when he entered the stock market again, he was trapped again, suffered losses again, sold his stocks again, and cursed again.
Repeated cycle.
Until his death, he was still confused, unable to distinguish between the truth and falsehood, good and evil in the stock market, and unable to find the right path.
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