Chapter 82: The Main Force is Cursing (Seeking Double Monthly Pass)
Chapter 82: The Main Force is Cursing (Seeking Double Monthly Pass)
Fang Hong wasn't worried about his position being sniped if it got exposed.
Firstly, the K3478 account had just been registered and hadn't caused any controversy or made any enemies in the market. Retail investors had no reason to retaliate.
Secondly, Fang Hong had enough capital to influence the market sentiment. For example, the stock of Jinshan Development, which he decided to intervene in, had a daily trading volume of only about 16 million, while Fang Hong's account held almost double that amount.
Fang Hong's strategy in choosing Jinshan Development was to intervene in a stock with significant potential but not too much risk. He knew that the main funds behind this stock would likely accelerate their purchases, which would push the price higher.
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The Next Day - Tuesday, December 2nd
Sitting in front of his computer, Fang Hong observed the market. It was the call auction stage. He looked at the bidding situation for Zhongxin Securities, which had a drop of -2.92%.
Fang Hong quickly switched to Jinshan Development. With only three minutes left in the bidding stage, he took a careful look at the price movements.
"If this stock enters the second board, the price could jump straight to the top," Fang Hong thought. The main funds for Jinshan Development were substantial.
Fang Hong couldn't resist. He believed the other party was either too greedy or too foolish to not act more carefully. His prediction was that they would try to sell off the stock at a lower price to take advantage of a brief rebound.
But Fang Hong wasn't interested in playing a long, drawn-out game. He quickly moved into action. Instead of letting the price go up gradually, he sold half of his stock to depress the price, and then planned to quickly drop it to attract retail investors, who would see the stock as a "safe" buy after falling from its peak.
However, Fang Hong didn't have time to wait for the market to settle. He hoped to trigger a market rush by manipulating the price during the call auction.
As the last 15 seconds of the call auction approached, Fang Hong made his move. He quickly threw out 1.27 million yuan in funds at a price just 1 cent below the daily limit price, successfully breaking through the price ceiling.
Jinshan Development opened at a +9.78% rise, priced at 5.05 yuan per share, just 1 cent shy of the daily limit price.
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Meanwhile, in a Trading Room
Traders for Jinshan Development were cursing as they watched the bid results. They had no idea that it was Fang Hong's decisive actions that led to this situation, but Fang Hong wasn't concerned. He was satisfied with the outcome.
Before the market opened, he quickly switched to Zhongxin Securities to check the market there. Ashin, the stock he had been watching, opened lower at -2.71%, trading at 19.40 yuan. Many of his followers on Weibo had been optimistic about Ashin's future, especially after Fang Hong had mentioned it. Yesterday, many people had followed him when the stock surged during the late trading session.
But today, with the opening drop, many retail investors were panic-selling, regretting their decision to follow the trend. Some even thought that the best strategy was to cut their losses and wait for a safer price point around 15 yuan to buy again.
Fang Hong didn't pay attention to their actions. He didn't care about the retail investors' panic. He knew the market would behave as it always did: it was up to them to manage their risks.
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9:30 AM – The Market Officially Opens
As the stock market officially opened, Fang Hong switched back to Jinshan Development. Immediately after the opening, he threw in 3 million yuan in funds, split into two orders of 1.5 million yuan each. The stock quickly dropped by -6.95% to 4.92 yuan.
At the same time, Fang Hong bought back more stock, and within one minute, Jinshan Development saw nearly 13 million yuan in trading volume.
Fang Hong's method of slamming and following the market meant that he was trying to outplay the market's major players, diluting their control and getting more people to buy into the stock. The key here was getting others on board so that the stock could rise more quickly and at a greater volume.
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At 9:32 AM
Jinshan Development's stock price rose to 5.06 yuan and hit the daily limit. Fang Hong had successfully manipulated the market in his favor.
In just two minutes, trading volume had reached over 20 million yuan, which was a sharp increase from the previous day's 16 million yuan.
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Back to Zhongxin Securities
After a successful play with Jinshan Development, Fang Hong turned his attention back to Zhongxin Securities. As expected, Ashin's stock price began fluctuating, initially falling before rebounding by 0.7%. It later started to rise steadily.
By 10:40 AM, Zhongxin Securities was in the green. The stock price reached 20.82 yuan, expanding the increase to +4.41%. Fang Hong, watching closely, sold off his holdings at this point, basically selling at the highest price of the day.
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In the Afternoon
After lunch, Fang Hong didn't sit idle. He identified a new target: Innovation Real Estate, a real estate sector stock with the trading code 600193. This stock had shown strong growth during the day.
At 1:30 PM, the stock price of Innovation Real Estate had risen to 4.37 yuan, and the increase reached 6.07%. Fang Hong decided to act, placing an order for 1.5 million yuan, igniting a rally.
With his considerable capital, Fang Hong could easily push the stock's price up, setting the daily limit and causing the stock to surge.
Innovation Real Estate hit the daily limit at 4.53 yuan. However, the selling pressure on the stock was heavy, and it couldn't hold the limit price for long. The stock price began to fall shortly after reaching the peak.
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End of the Day
After the market closed, Fang Hong focused on his portfolio. The floating profit in his account amounted to 1.5272 million yuan, bringing his total account assets to 33.75 million yuan.
His holdings included three stocks: Zhongxin Securities, Jinshan Development, and Innovation Real Estate.
By the end of the day, all three stocks had hit the daily limit, and Fang Hong's trading strategy had paid off handsomely.
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