269: An unforeseen collapse! No one is immune to an avalanche!

That evening.

As soon as this announcement came out, it quickly sparked interpretations from many big influencers.

For instance, some academic-style influencers believed that this announcement was absolutely bearish.

On the Ai Stock app, a well-known influencer remarked: "Regarding the condition in this clause requiring individual investors to meet a 500,000 threshold, I think it's absolutely bearish."

"Because in the current brokerage market situation, most places can actually open margin trading for you with 200,000. With this new regulation, it cuts off the channel for those with around 200,000 who want to open official leverage!"

"In the short term, it might lead to a decline in the margin trading balance, putting some pressure on the stock market!"

"However, in the long run, this is a positive signal for the stable operation and development of the A-share market!"

These words.

Might as well have not been said.

But astute Stock Investors instantly realized, isn't this just deleveraging?

There were also influencers who believed that there was no need to be particularly worried about this matter; after all, the leaders above wanted a slow bull market, and issuing such a document was understandable.

For the optimists, they believed: "In the long term, the brokerage sector will definitely benefit, because this will transition the market from wild growth to standardized development, and there is still potential for the subsequent margin trading cap to grow!"

The cautious ones believed: "We must be vigilant about the short-term volatility of the brokerage sector!!"

Vigilance, volatility!

Once these words came out, they were basically synonymous with a crash.

"Is this news actually bullish or bearish? Why do I see all kinds of opinions from big influencers online?"

"If you hold shares, it's bearish; if you don't hold shares, it's bullish!!"

"Haha, the explanation above is too classic!!"

"I actually feel like it shouldn't be a big deal. The overall market index is still in a bull market right now. How could one document like this stop the bull market? Everything has inertia. At the very least, there should be a chance to run away tomorrow, right?"

"Stop overthinking it, damn it. Did you see the keyword in the document? It requires cleaning up and rectifying the leveraged financing business. Combine that with Brother Lin's previous interview video—'leveraged bull market'—do you remember it? Need I say more? Run for your lives!"

"Is this for real? Damn, I'm fully invested with full leverage!"

"What are you afraid of? I've already tripled my profit. Let's see how you make me lose money tomorrow. Hit a limit down? I'm not afraid of you at all!!"

"This document should be considered standard. The key is to see how the market moves afterwards."

"Indeed, there's no point in discussing so much now. When Brother Lin's video came out, didn't we have mass limit downs in the morning? But they were all pulled back up in the afternoon. I don't know if you all remember, but a bull market won't fear any single person's words!!"

"I feel the same way. This is just the wailing of those who are missing out!!"

Over at the CSRC.

After the Village Chief finished releasing the document, he was also watching the market's reaction and the Stock Investors' reaction.

As for the reactions of the Brokerage Firms, he knew without even looking that they were definitely going to explode.

Those Brokerage Firms were incredibly shrewd; how could they not understand that he was warning them not to continue lending recklessly, to stop the leverage, and to let the bull market slow down?

He paid close attention to the reactions of Stock Investors online.

He was surprised to find that the number of bulls and bears was still about the same.

Only then did he feel relieved: "Whew! That's good. It seems the netizens' resistance isn't too strong. Let the National Team cooperate again, lower the leverage a bit, take it slow, and it should be possible to stabilize things a bit!!"

"Tomorrow, make sure to have the National Team prepare funds to control the market!"

Meanwhile, at some off-market leveraged financing platforms, after seeing this document, they all felt like they were going to heaven!!

Happiness came too suddenly.

These people doing leveraged financing loved it when the stock market fell and Stock Investors' positions were liquidated, allowing them to force-close.

However, they wouldn't understand that the risk of this stock market decline was so great that it would prevent them from even being able to force-close.

Their own principal would also suffer losses.

...

Finally, the highly anticipated stock market opened.

Early in the morning.

The stock market actually opened with a slight gap up of 13 points.

This actually stunned many Stock Investors.

They had originally assumed that today would open at a very low price.

But the result was that the overall market index gapped up.

Some Stock Investors' individual stocks even opened more than 4 points higher.

Some even opened at the limit up, completely ignoring that margin trading document.

Could it be that this document wasn't actually earth-shattering, but just a routine inspection?

But soon, they realized, what kind of routine inspection was this? This was a real crash!!

After the overall market index gapped up, it didn't continue to climb higher as some Stock Investors had fantasized, breaking through resistance levels, rushing to new highs, and crushing the bears.

Instead, it began to fluctuate at the 5,100-point level.

If one observed this fluctuation carefully, they could see that some funds had already sensed something was wrong and were quietly breaking up their orders to exit.

However, to stabilize the market while trying to be the first to run, they had to resort to this tactic.

But in the stock market, as the essence of a zero-sum game, there will always be someone who runs first!!

When one side's funds scrambled to run, the other funds stopped pretending and the Ten Thousand Lot Brother started dumping!!

At 9:37, after the first Ten Thousand Lot Brother started dumping CITIC Securities, it kicked off today's crash!

[short-term spirit: Large amount of funds sold CITIC Securities, decline of -2%!]

From this point on, the entire overall market index seemed unstoppable and began to plummet crazily.

The 5,100-point integer mark, which had been as stable as Mount Tai, was easily breached at this moment.

No funds were protecting the market at this time; there was only crazy fleeing.

5,090 points!

5,085 points!

5,070 points!

5,050 points!

By 10:00, the overall market index had plummeted to the 5,050-point mark, and then finally, the first batch of funds started buying the dip.

The overall market index also rebounded slightly.

But this was limited to the shanghai composite index.

After all, this index hadn't risen much in the last few months.

The one that had really risen a lot was the growth enterprise market!

It was also the index with the largest decline today.

It fell crazily from 3,900 points, successively breaching 3,800 points and 3,700 points; just this morning, it easily breached 3,800 points.

Those Stock Investors who held stocks in the growth enterprise market were struck by doomsday today.

As long as it was a previously popular stock in the growth enterprise market, it couldn't escape the fate of a limit down today.

Even if it didn't hit the limit down, it was hovering near the limit down, with the possibility of hitting it at any time.

In the major Stock Bars, there was wailing everywhere today.

"Damn, I had a 3-point profit when it opened, but now it's directly at the limit down?"

"This market crash is too severe, right? If I had known, I would have run during the bidding!!"

"People kept saying 'the wolf is coming, the wolf is coming,' and now the wolf has really come!!"

"Damn it, I also hit the limit down!!"

"Although I didn't hit the limit down, I'm hovering near it, and there's no way to run. If I run now, won't I really lose money? Let's wait and see if there's a reversal in the afternoon!!"

"The growth enterprise market is crashing too severely!!"

"It really has to be the Village Chief; one document and he turned the stock price into this!!"

"I lost 300,000 today; this market is too vicious!!"

"Although I also lost a lot today, I have a feeling the market will definitely pick up in the afternoon. Adding to my position!!"

On one hand, many new Stock Investors hadn't experienced a stock market crash, so they didn't understand the severity of it.

On the other hand, it was also caused by Brother Lin's video, which made many Stock Investors mistakenly believe that after a limit down that day, it was actually a stock market crash.

But this was just the beginning! What happened this morning was just a preview!

Why do I say it was a preview?

Because the stocks falling today were basically internet finance, e-commerce concept stocks, and some popular stocks in the growth enterprise market; these were the ones falling.

Stocks like CITIC Securities, East Money Information, and Zhongke Jincai were basically leaders hitting the limit down.

This seemed perfectly normal today, after all, yesterday's document targeted these stocks.

It targeted Brokerage Firms!

But even today, there were many stocks that hit the limit up against the trend.

For example, steel, catering and tourism, and shipping.

The biggest characteristic of this type of stock is that it goes against the trend!

The more the overall market index falls, the more these stocks can rise.

The reason can be summarized in two words: Risk Aversion!

Therefore, in the Stock Bars for these sectors, the liveliness of the Stock Investors was absolutely the opposite of those holding brokerage stocks.

It perfectly reflects the saying that the joys and sorrows of people are not connected.

Some people want to laugh, some people want to cry!

Fangda Special Steel, Jiuquan Iron & Steel, Zhongyuan Shipping, Ningbo Marine, Xi'an Tourism, Jinjiang Hotels, etc.

These stocks actually hit the limit up today while the overall market index collapsed and plummeted, and the growth enterprise market was smashed down by more than 200 points.

This made the Retail Investors holding these stocks extremely happy.

"So comfortable. I've been trading stocks for so long, and this is the first time I've felt the true joy of stock trading!!"

"Haha, I understand what you mean. Watching the bloodbath outside, the storm of blood and gore, everyone hitting the limit down, while we are fully invested in this risk-aversion sector and hitting the limit up, the sense of achievement is maxed out, right?"

"Everyone, get cocky! Today, brothers, we are all handsome guys hitting the limit up!"

"This is too satisfying. I've never felt this good even when everyone was rising before!!"

"Sigh, this kid clearly hasn't experienced a bear market. He'll be fine after experiencing more in the future."

"I didn't expect my Ningbo Marine to hit the limit up. Is it going to replicate that 5-consecutive-limit up play from before? If that's really the case, I have to hold on tight!!"

"How should I put it? I was half-invested in CITIC and half-invested in Jiuquan Iron & Steel today. As a result, one hit the limit up and one hit the limit down. My profit today is 0. I don't know whether to cry or laugh!!"

"That's definitely something to laugh about, because you successfully hedged!!"

The entire morning, the overall market index was basically falling.

Inside Junlin Finance.

The way those Traders looked at Brother Lin was already like they were looking at a stock god.

The 200 billion they fled with earlier, given the current situation, was absolutely at the very peak.

As for the remaining stocks, it was also because of rule restrictions that there was simply no way to run.

But observant Traders also noticed that these remaining stocks were basically all positions in defensive sectors.

But only Wang Lin understood in his heart.

As long as one is in this A-share market, and with the 80% minimum position limit, even defensive sectors will eventually start to fall.

This is unavoidable.

When the bear market arrives, everything gets swept away; no sector can escape it!

The reason why they can still pull to a limit up now is because Stock Investors still have wishful thinking in their hearts.

Plus, the Institutions haven't finished offloading their goods, and they need the market to maintain liquidity.

"Alright, finish offloading the remaining few chips today, and in the coming time, we can comfortably watch the show!"

Wang Lin's words always made these Traders feel at ease.

Sure enough, for stock trading, it has to be at Junlin Finance.

After the afternoon market opened.

The overall market index seemed to have a fresh force entering, which temporarily pulled the market up a bit.

And just this point alone made some Stock Investors feel excited.

"It's pulling up, it's pulling up, the overall market index is starting to look up!!"

"It's too familiar; isn't this the same as that wave from Brother Lin last time? limit down in the morning, prying open the board in the afternoon, and then a Limit Down to Limit Up Reversal!!"

"Damn it, bottom-fishing, let's do it!!"

"CITIC Securities has opened, congratulations to those bastards who bottom-fished; the bottom-fishing was successful!!"

"Awesome, CITIC has pulled up to -5%; sure enough, the dragon head is more resistant to falls, and its rebound is more powerful!"

"I bought East Money Information, and it has also opened!!"

"Brothers, we all have a bright future!!"

"Damn, I can't hold back anymore; I bought CITIC Securities at -4%. If it pulls into the red like last time, I'll also make a steady profit!!"

However.

Over at the National Team.

Someone sighed and said: "The selling pressure is too severe. Tell the leader that the current assessment is to give up; we can only let the bears vent for a while!!"

"At the same time, we must also release the chips in our hands so that we can pull it up from a low position."

Immediately.

The bulls' capital stopped pulling up.

The bears once again gained the upper hand.

And this time, there was an extra force of Dump Stock capital.

CITIC Securities, which had rebounded to a -3% state, was quickly smashed towards the limit down in the blink of an eye.

This smash was done with volume!!

Anyone with a discerning eye could see that if this wave was smashed to the limit down again, it would truly be beyond saving.

At 2:00 PM sharp.

All Stock Investors were dumbfounded.

The overall market index completely crashed.

The shanghai composite index, shenzhen component index, growth enterprise market, CSI 300, and various other indices all fell.

Only a few defensive sectors were able to rise steadily.

Those Stock Investors who bottom-fished for brokerage stocks today were already left hanging high on the mountaintop.

The last hour was basically garbage time.

The bears ran rampant, unstoppable.

The thing all Stock Investors hoped for most now was for the market to close.

At 3:00 PM, the stock market finally froze.

The shanghai composite index plunged 2.3% today, the shenzhen component index plunged 2.41%, and the growth enterprise market crashed 5.18%, becoming the core index with the largest decline today.

As for indices like the CSI 300, they also had declines of over 2 points.

It can be said that today was truly a catastrophe.

Looking at the stocks in both the Shanghai and Shenzhen markets, only 600-plus were in an upward state, while over 200 stocks were at the limit down.

Why were Stock Investors so pessimistic today? Because the ones that fell were basically all hot stocks; in other words, they were basically the stocks that these Retail Investors like to chase the rise and kill the fall.

To put it another way, today was a day for the precise sniping of Retail Investors!!

After the market.

The release of the dragon and tiger list made people feel even more pessimistic.

Except for the Institutions, which still had slight pull-ups, the rest of the big Hot Money were basically focused on fleeing today.

People like Alliance Leader Zhang, Stock Trading for a Living, and others were fleeing frantically.

And on today's market, a name everyone expected did not appear.

Brother Lin!

CITIC Securities Zheng County Huaihai Road Branch!

This seat did not appear on the list for any stock today, neither on the buy list nor the sell list.

This also left many Stock Investors somewhat puzzled.

What exactly is Brother Lin doing?

"Does anyone know if Brother Lin left today? Why can't I see Brother Lin's name on CITIC Securities!!"

"I don't know either; could it be that he is still holding on?"

"Absolutely not. I feel that when Brother Lin's video came out last time, he had already started to exit."

"He is now a big shot controlling hundreds of billions in capital; this seat is now dispensable; it represents more of a weather vane!!"

"Today's limit down for CITIC Securities is too damaging to morale; I feel tomorrow will still be a limit down!!"

"That can't be, this is the dragon head!!"

"If you don't believe it, just watch!!"

...

That evening.

Regarding today's stock market crash, many big influencers also began to give their professional interpretations.

Ai Gu Jun: "Today's stock market crash is partly due to the deleveraging effect from the regulatory level, and on the other hand, it is also because of capital bleeding. I don't know if everyone has noticed, but this week there are as many as 25 new stocks being subscribed to in a concentrated manner, with an estimated 5 trillion in frozen capital!"

"Plus, since regulators now want the market to walk a slow bull, not a reckless bull, they must pull out the leverage and let the market's heat cool down."

"However, Ai Gu Jun has some concerns here: will this trigger a chain reaction and lead to a stock market crash?"

Daofeng Finance: "I think today's plunge is actually the main force's routine portfolio adjustment. The growth enterprise market is indeed the main force of the disaster today, but if you look closely, you will find that it is basically high-priced stocks over 100 yuan that are crashing, while stocks under 10 yuan remain active."

"So there is a reasonable explanation here: today is actually the main force switching between high and low. Most of the previous high-priced stocks were speculative between themes and lacked performance support, so the stock price bubbles were relatively serious."

"But among the low-priced stocks, most are traditional industries, and their valuations are very reasonable. Switching between high and low at this point in time is logical!"

"Of course, portfolio adjustment cannot be completed in a day or two, so those high-position stocks must be avoided in time in the near future!!"

Besides the two of them, there were other big and small influencers who gave their own explanations for today's crash.

As for which ones the Stock Investors see and which ones they believe, that's up to fate!!

At such a time, Wang Lin would not express any opinion.

The opinions he wanted to express had already been said a month ago.

And at this moment.

Zhao Xiaoqing, who once discussed finance with Wang Lin on the Finance University campus, was the junior student in the finance department.

At this time, she had officially stepped into Junlin Finance, serving as a small intern.

Because she was an alumnus of Wang Lin, they had also chatted about this stock market situation together.

Wang Lin specifically called her to his office today and asked with a smile: "What do you think of today's stock market situation?"

Zhao Xiaoqing pushed up her glasses. She felt no timidity towards the current chinas richest man, her senior, and said: "Today's stock market should be the beginning of a crash. Just as we discussed before, this bull market is a leverage bull."

"The moment the regulators clearly pulled out the leverage, this bull market was no longer valid."

"I was just looking at the comments online and found that everyone seems to be very optimistic, but I think the storm has already arrived!"

Wang Lin stood up and applauded with a smile; he had truly discovered a genius.

Being able to have one's own judgment, and sticking to it, not being influenced by the big influencers online.

The psychological quality also seems to be quite up to par.

He had found a treasure.

Plus, she was from his own Finance University lineage. Wang Lin had already had someone investigate her identity and background, and it was very clear.

Therefore.

She could be treated as a key training object.

"Well said. Starting tomorrow, you will follow the normal internship process. If you see any business you are interested in, you can also tell me."

Zhao Xiaoqing had a grateful look on her face: "Thank you, Mr. Wang, thank you very much for giving me the opportunity!"

She hesitated for a moment and asked: "Then what is your view on this?"

Wang Lin smiled and said nothing.

Zhao Xiaoqing understood.

It seemed that Brother Lin was still the most awesome Brother Lin from Finance University; he had already exited long before the stock market crash arrived.

At this time, Zhao Xiaoqing also recalled the incredible scenes in the stock market over the previous dozen days.

Even though the stock market was rising sharply or fluctuating sideways, a large amount of capital was flowing out every day.

Now it seems that it was Brother Lin fleeing.

Fleeing while the market was at its hottest, not greedy for the last copper coin.

Brother Lin's substance is truly very solid!!

Early the next morning.

Many Stock Investors who hit the limit down almost didn't sleep well all night.

From time to time, they had to check major financial forums, or look at the Stock Bar of the stocks they held to see if there were any new comments.

Or comments that agreed with their own views, as well as comments they wanted to see.

Many Stock Investors are basically like this; when the market crashes, they want to seek a sense of security and identity in their hearts.

And surprisingly, the ideas of most people in the comments were still very optimistic.

They all thought it would rebound today.

But.

Some things will not be transferred by the will of certain people.

To speak plainly, if it should fall, it will fall.

At 9:25, the bidding opened, and the three major core indices opened with a gap down at the same time.

It officially announced that this stock market crash had begun!!