After various short-term capital groups successfully teamed up to seal the limit up.
The entire market, driven by the limit up of 'Meiyan Jixiang' and stimulated by the red-hot profit effect of 'Meiyan Jixiang' achieving seven consecutive limit ups, was spurred into action.
Major concept themes and popular concept stocks surged.
At 10:37 AM, 'Beihua Co., Ltd.', which had a strong correlation with 'Meiyan Jixiang''s trend, followed suit and hit the limit up.
At 10:42 AM, 'Guoxin Culture', also part of the 'China Securities Finance Corp. held shares' concept sector, surged violently, also following suit to hit the limit up.
At 10:53 AM, 'Wenfeng Co., Ltd.', also belonging to the 'China Securities Finance Corp. held shares' concept sector, hit the limit up.
Afterward, in sectors such as 'sub-new shares', 'SOE reform', and 'domestic software'... more and more concept stocks began to follow suit, surging and even hitting the limit up.
And as the continuously warming market's bullish sentiment and speculative fervor deepened,
in the afternoon, the Shanghai Composite Index once again began to challenge the 4000-point mark.
Finally, when the market closed at 3:00 PM, the Shanghai Composite Index once again closed with a bullish candlestick, breaking through the 4000-point barrier and re-establishing itself above 4000 points.
Seeing the Shanghai Composite Index close back above 4000 points, Su Yi
knew that market sentiment, along with a wave of bullish expectation repair, meant there was no need for excessive worry.
After the official close of both markets, as countless investor groups reviewed the market, the market popularity of 'Meiyan Jixiang', which had achieved a seven-consecutive-limit-up profit effect, grew even higher, steadily topping the hot stock lists in both markets.
Amidst everyone's continuous heated discussions about this stock,
the Dragon and Tiger List for both markets was updated.
It was observed that 'Meiyan Jixiang' remained on the list, and in its disclosed Dragon and Tiger List buy and sell data, the 'Jinrong Street Fuxing Road' trading seat used by Su Yi, as well as the newly entered 'Yuhang Qingchun Road' from yesterday.
Both maintained their locked positions, while the funds from the two associated seats, 'Guotai Junan Securities Jinling Taiping South Road' and 'Huatai Securities Jinling Taiping South Road', both chose to take profits and exit.
As for the funds from 'Huafu Securities Yuhang Tiancheng East Road'.
they not only did not choose to take profits and exit but instead continued to increase their positions significantly at this level.
On today's buy list,
'Jintian Ge''s exclusive seat, 'Guangda Securities Shenzhen Jintian Road Branch', was far ahead, ranking first in buying with a purchase amount of 135 million, while subsequent trading seats such as 'Hongqiao Road', 'Tiancheng East Road', 'Gusu Northwest Street', and 'Zheshang Securities Shaoxing Branch' all had purchase amounts below 30 million.
"'The funds from 'Jinrong Street Fuxing Road' indeed locked their positions.' Seeing the buy and sell data from the Dragon and Tiger List disclosed by 'Meiyan Jixiang', Wu Mingze, 'Jintian Ge', the main attacker on 'Meiyan Jixiang' today, exclaimed, 'What great composure!
With such Dragon and Tiger List data, if 'Meiyan Jixiang' doesn't achieve an accelerated limit up tomorrow, there will likely be significant divergence again.'"
Based on this Dragon and Tiger List data,
he didn't know how 'Meiyan Jixiang''s trend would unfold tomorrow.
But he thought that regardless of how the stock's intraday trend would unfold, at least opening with a premium would not be an issue, and at least allowing him to earn a profit of several million to ten million before exiting would not be a major problem.
His subsequent strategy, in any case, was to dump if the market weakened and maintain his position if it strengthened.
He merely estimated that there were too many locked-up funds in the market, making it unlikely for 'Meiyan Jixiang' to achieve his desired accelerated limit up with reduced volume tomorrow.
And just as he had worried...
After a night of bullish sentiment brewing and positive news stimuli,
the next day, Wednesday, August 12th.
With the broader market in both cities generally opening slightly higher, and overall market investment and speculative sentiment being very positive,
after quickly hitting the limit up with reduced volume, 'Meiyan Jixiang' immediately encountered renewed selling from profit-taking investors.
"'Damn it, I really shouldn't have expected too much.' At 9:52 AM, seeing 'Meiyan Jixiang' break the limit up and its stock price hover near the limit up price, unable to fully seal, 'Jintian Ge' Wu Mingze's confidence to continue holding instantly collapsed.
'I knew there were too many locked-up funds, and divergence was bound to happen. Sure enough, looking at this... if it can't seal the limit up, it'll flash crash sooner or later.'"
Thinking of this,
he didn't wait for 'Meiyan Jixiang' to continue struggling to seal the limit up.
He immediately dumped all the shares he had bought yesterday, taking profits and exiting.
Under the influence of the shares he dumped, 'Meiyan Jixiang''s stock price flash-crashed down to a gain of 8.5%.
However, to Wu Mingze's great surprise, after he had finished dumping his shares, 'Meiyan Jixiang', after a sharp dip, saw its stock price surprisingly rebound and continue to fluctuate near the limit up price within just five or six minutes as trading time progressed.
"'Crap, I feel like I sold at the wrong time.'"
Seeing 'Meiyan Jixiang''s stock price rebound and fluctuate near the limit up price again, Wu Mingze slapped his thigh, instantly feeling that he might have been shaken out.
But even if he felt he might have been shaken out,
at this position and with this market pattern, he didn't have the courage to buy back heavily.
Unlike Wu Mingze's anxiety over gains and losses at this moment,
Su Yi, at this moment, calmly watched 'Meiyan Jixiang''s market trend, still maintaining his locked position, waiting for 'Meiyan Jixiang''s trading to continue to advance.
After the Shanghai Composite Index re-established itself above 4000 points, it continued to rebound upwards.
And the entire market's bullish expectations, after the Shanghai Composite Index returned to 4000 points and fully recovered from the previous huge bearish candlestick, were also gradually restoring.
Under such emotional expectations,
for a leading concept stock like 'Meiyan Jixiang', the market's support would only grow stronger.
After all, as bullish expectations increased, the investment risk appetite of investors in the market also continuously rose.
Given this, what was there to fear from the impact of some profit-taking in the market before this emotional repair brought about by bullish expectations was complete?
Moreover, in Su Yi's view,
'Meiyan Jixiang''s market trend had not truly accelerated yet.
As he held 445 million shares firmly, unmoving, calmly observing the market's ebb and flow, and watching 'Meiyan Jixiang' continue to diverge with intense trading near the limit up price,
as market trading time continued to advance,
when 1:32 PM arrived, and 'Meiyan Jixiang' had already seen around 30% of its shares change hands near the limit up price, while major indices like the Shanghai Composite Index, Shenzhen Component Index, and ChiNext Index all rose by over 1%, and weighted stocks and concept stocks in both markets advanced simultaneously,
a block of main capital, consisting of over 200,000 lots,
suddenly aggressively swept up shares at 'Meiyan Jixiang''s limit up price, sealing the stock's limit up with virtually no effort.
(End of Chapter)
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