When the broad base of investors following this stock saw it open directly with a single-line limit-up, they immediately began to chase 'State-owned Enterprise Reform' and 'Oversold Rebound' small and mid-cap concept stocks that shared the same concept as 'Teli A'.
Thus, after the two markets officially opened for trading.
Although the Shanghai Composite Index encountered resistance at 4000 points, the major blue-chip stocks that had previously supported the index's continuous strong rebound were suppressed by short-term profit-taking and stop-loss orders above 4000 points, unable to lift their heads.
However, numerous small and mid-cap concept stocks, mainly in the 'State-owned Enterprise Reform', 'Oversold Rebound', and 'New Sub-IPO Stocks' major concept sectors, continued to rebound strongly, and the profit-making effect remained hot.
At 9:42 AM, among other 'State-owned Enterprise Reform' concept stocks that followed 'Teli A', several stocks including 'Sanxia Xincai, Mingxing Dianli, Xinxiang Huaxian, Chuansheng Jiuzhou' all hit the limit-up, continuing to follow suit.
At 9:48 AM, thanks to the suspension of IPOs, the 'New Sub-IPO Stocks' sector was frenziedly speculated by various speculative funds.
Tiancheng Zikong, Wanfu Shengwu, Puyang Huicheng... all hit the limit-up.
Almost all new sub-IPO stocks listed within the past month began to surge towards the limit-up.
At 10:15 AM, the Shanghai Composite Index continued to trend lower with fluctuations, dragged down by blue-chip stocks.
However, the SME Board Index and ChiNext Index remained active.
Afterward...
Throughout the day's trading, blue-chip stocks performed relatively weakly.
In contrast, small and mid-cap concept stocks showed a completely different trend from blue-chip stocks.
Especially in the three major concept themes of 'State-owned Enterprise Reform', 'Oversold Rebound', and 'New Sub-IPO Stocks', a multitude of related concept stocks initiated a wave of limit-ups.
This led to the close of trading at 3:00 PM.
While the Shanghai Composite Index fell by 1.16%, the SME Board Index and ChiNext Index, on the other hand, closed with significant gains of 2.11% and 2.33% respectively.
However, the divergent performance of several major core indices also indirectly indicated that the overall market investment sentiment had begun to reach a point of divergence.
It's just that due to the hot profit-making effect of small and mid-cap concept stocks, people would temporarily overlook this, or rather, it wouldn't temporarily raise an alarm.
In the market's divergent trend throughout the day.
'Teli A' maintained a single-line limit-up pattern until the market close.
And due to the comprehensive surge of 'State-owned Enterprise Reform' and 'Oversold Rebound' concept stocks, a multitude of investors holding 'Teli A' in the market were reluctant to sell, resulting in the stock's total turnover for the day being only over 6 million yuan, with a total trading volume of less than ten thousand lots.
"A single-line limit-up with shrinking volume amidst market sentiment divergence."
Su Yi looked at the closing results of the two markets and thought to himself,
"With this pattern, 'Teli A' is likely to experience massive volume and significant volatility tomorrow."
After 'Teli A's continuous limit-up trend.
At this moment, his total assets in his stock account had already exceeded nine digits, reaching an amount of 104 million.
Currently, his total holdings of 'Teli A' stock were still 53,000 lots, with a market value of 85.22 million, and unrealized gains of approximately 30.4 million.
Amidst market sentiment divergence, the leading stock hit the limit, losing turnover.
Then, once market sentiment weakens from divergence, the large group of profitable funds holding positions within the leading stock that lost turnover will inevitably choose to take profits and exit.
And the exodus of profitable funds will inevitably lead to a significant increase in turnover rate, drastic stock price fluctuations, and further disruption of the chip structure.
"The pressure at 4000 points on the Shanghai Composite Index still seems quite substantial!"
While Su Yi was pondering the subsequent trend of 'Teli A', others in the trading room, facing the severely divergent performance of blue-chip stocks and concept stocks, also voiced their thoughts, showing some disagreement in bullish and bearish views.
"The short-term market might still be volatile. Looking at the 4000-point level today... it truly hasn't stabilized."
"Blue-chip stocks have probably completed their historical mission, haven't they? I feel like it's time for small-cap concept stocks to perform next. Many resumed trading stocks hit the limit-up today, and there are quite a few stocks with four consecutive limit-ups from the bottom!"
"If the Shanghai Composite Index can reclaim the 4000-point level, it means the bull market pattern is still intact. At this point, I think we shouldn't back down, nor be bearish."
"It plunged over 1700 points earlier; it's only rebounded for a few days? How can one be bearish?"
Su Yi listened to everyone's post-market discussion, offering no opinion.
He merely briefly reviewed the trading charts of several other highly recognizable individual stocks in the market, glanced at the refreshed Dragon and Tiger List data from both markets, and then left the trading room.
In the evening, on the market news front, there were no significant negatives nor positives.
The market's bullish and bearish sentiments were naturally fermenting over time, and during this period... for 'Teli A', a stock that had achieved four consecutive strong limit-ups, investor attention and discussion heat continued to rise.
Investors holding this stock were all hoping it would continue its limit-up streak tomorrow.
Investors who hadn't managed to acquire shares of this stock but were highly interested in it, were hoping that it wouldn't open too high tomorrow, allowing for a good entry point.
Just as everyone was continuously debating the gains and losses around the Shanghai Composite Index's 4000-point level, with bullish and bearish views at a stalemate, and most investors believed the index would likely continue to fluctuate around 4000 points.
The next day, July 15th, Wednesday.
The two markets surprisingly opened lower across the board, below expectations.
Facing the opening where the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all gapped down, almost all investors were stunned.
They didn't understand why, without any clear negative news, the market's selling pressure was still so immense, or why it was so difficult for the Shanghai Composite Index to stably stand above 4000 points.
However, even though the indices gapped down across the board, significantly below the broad investor's expectations.
Yet, a multitude of popular concept stocks from the 'State-owned Enterprise Reform', 'Oversold Rebound', and 'New Sub-IPO Stocks' major concept sectors, which performed well yesterday, still showed strength, all achieving a gap-up opening.
Especially 'Teli A', which garnered high attention and intense discussion, gapped up significantly at a 5.65% increase.
Su Yi saw 'Teli A' stock, which continued to gap up significantly despite the two markets' indices opening lower across the board, and he slightly furrowed his brows, a strong urge to take profits welling up in his heart.
He believed that yesterday, with the stock's single-line limit-up and shrinking volume trend, there was simply insufficient turnover, and it had already accumulated an astronomical amount of profitable chips.
Now, with overall market sentiment adjusting downwards, yet this stock's price continued to open strongly with a large gap up, deviating from the market sentiment trend—wasn't this intentionally enticing the profitable funds in the market to dump their shares?
Of course, considering the stock's performance yesterday, as well as its current market attention and discussion popularity, it was also logically understandable that various funds, attracted by the profit-making effect, aggressively followed suit to snatch up shares, causing the stock to disregard the overall market sentiment and open significantly higher.
However, this gap-up pattern, coupled with the large number of short-term profitable chips accumulated in the market, Su Yi found it hard to believe that this stock, at this position, could continue to rise without significant adjustment and shakeout.
While he was in thought, the market had already transitioned into the formal continuous auction trading session.
Just as the two markets' trading panels began to flicker, before he could react, 'Teli A' stock was once again violently pushed up to its limit-up price by countless large principal buy orders vying for shares, and various aggressive follow-on retail orders of immense volume, once again showing a "sealed limit-up in seconds" pattern.
Su Yi looked at the trading chart of 'Teli A' and was suddenly taken aback.
He had completely not expected that at this moment, there would still be 'daredevil squads' daring to aggressively buy shares to hit the limit-up.
"Since you want the shares so much, I'll give them all to you."
Su Yi smiled.
Seeing that after the opening, the Shanghai Composite Index not only failed to quickly recover from its low opening but also once again fell below the 4000-point level, he decisively made a decision.
After 'Teli A' hit the limit-up and was still driving the rapid ascent of 'State-owned Enterprise Reform' and 'Oversold Rebound' concept stocks, he immediately backhanded, dumping 20,000 lots of shares at the limit-up price.
(End of this chapter)
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