Rebirth of Northland Technology

Chapter 7

The first time he deposited $300,000 in cash, he wanted to go into the big account room to trade.

There are definite reports that several IU funds have already put in a billion dollars in cash, and there is a steady stream of follow-up funding.

The image of IU and the Department of Photonics in Ice City has been excellent for some time, and countless people have heard about it.

Everyone gathered at the New World Trading Hall, as if they could take advantage of good luck by trading here.

Due to the overwhelming number of people applying for large accounts, Jianghai Securities had to temporarily change the rules and raise the threshold for large accounts from 300,000 to 1 million.

Even so, stockholders are still flocking to it.

Ma Changxing got the news a little too late and had to deposit 1 million in cash to get his wish to enter the big account room.

The reason why everyone is scrambling to get into the big room is that their only purpose is to have a chance to meet the IU's market makers. They hope to get first-hand information about the movements of the funds in the TOI.

Several of the funds had no sense of secrecy, and besides, they did not aim to speculate in stocks, so slowly, the word spread that they were determined to buy.

Under the combined effect of fund buying and rumors of state support, the stock market, which had been in decline for months, actually saw a wave of small quotes.

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Chapter 7

This group of ticket sellers, who followed the trend in Ice City, also saw their first losses in the secondary market.

But no one was deterred.

Not only did Ma Changxing not back down, but he increased his buying. Because he got the news: the funds of Idaho are also accelerating their buying. This can be seen in the share price of several top-performing stocks, SZDSEC has exceeded 10 yuan, and the volume is continuing to enlarge.

He didn't follow through on buying stocks because he couldn't buy them even if he wanted to. He bought some overweight stocks, which were too cheap, many of them, down more than 80%.

On the other hand, the top-performing stocks bought by the University of Industry and Commerce have not fallen much this time, and a few of them are actually rising.

In the past two days, he has had some losses in his accounts. But these losses, he does not care very much, after all, his current position is only about 400,000, and he still has some cash outside, which has not yet been transferred.

It has become a common understanding that everyone in Ice City is deeply proud of the University of Engineering and Technology.

The securities office was filled with an excited crowd.

Every time a stock goes down, there is a bigger cheer. More people, rushing to the counter, kept buying.

The volume of transactions in the New Century office, both funds and retail investors, has reached record highs. The two major funds, these days the buying volume is also enlarged day by day.

Because of the special rules set up by Cheng Yongxing, there is actually no opportunity to buy stocks during a stock market rally. It is only when the market is falling that you can trigger buying and gain chips.

For traders, it was only the days after the 20th that made a difference, and the reason for the big drop on the 20th was actually because the market finally confirmed that it was not the national teams that had been palletized.

This cause and effect caused the 20-day decline in the market.

The more the market falls, the more they buy. This situation in turn contributes to the following market outside the hall.

These days, the staff at JGS is happy and smiling.

You know, in a bear market, there are some securities firms that can't pay their salaries.

The volume of transactions on the New World trading floor quickly reached the top of the volume rankings. The trading volume of one hall is larger than the trading volume of one province.

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But the enthusiasm was unsustainable.

With the market still falling, the warm temperature in the halls slowly dropped.

After two consecutive weeks of decline, people's enthusiasm finally subsided.

On July 29, Ma Changxing came to the lobby early in the morning. He had invested 1.5 million yuan in cash to buy stocks in the past few weeks, with a loss of nearly 20% on the books.

These low-priced stocks, when he bought them, the main idea was to pick up the bargain. He chose a group of stocks that were more than a dollar because they were so cheap, down more than 80% from the beginning of the year.

But what he didn't expect was that they could be even cheaper!

He finally wavered a bit, should he change his mind and follow the Idaho fund to buy high performance stocks?

The top-performing stocks have become the only bright spots in a down market.

His stock position has already exceeded 1.5 million, which is considered a heavy position no matter how you calculate it, and his total assets are only about 3 million in total. Moreover, many of his full-color stocks are still locked up and cannot be sold at all.

Today he did not go to the big account room, but stayed in the lobby, where he did not want to trade.

In the lobby, he had more friends, and besides, it was a psychological comfort. The result of two or three weeks of following the crowd was that everyone was trapped.

The lobby, at last, had lost its laughter.

Looking at the stocks in green, although the two fund manipulators in the big account room are still pulling up the stocks, they are already showing a lack of energy.

The large-cap stock, Shenzhen Development, a risk indicator, finally stopped rising after more than three weeks of pulling up at the 11-yuan mark, where it has been swinging for three days.

Ma Changxing, like many others, is watching this stock, which represents the last of the market's long positions.

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1:08 pm, shortly after the market opened, after days of tug-of-war, SZD finally lost 11 yuan, and joined other stocks, and began to dive the market.

In less than ten minutes, it quickly fell to 10.5 yuan. Correspondingly, the broader market also took a big dive, with the Shanghai Composite Index, which fell below 410 points, approaching the 400-point mark.

During this wave of decline, the biggest decliners were instead the top-performing stocks, as they all had to make up for the fall.

Now, the hall was in an uproar, and the myth of IU was broken.

Ma Changxing and a few others stood up and walked to the big account room in the back. He was going to ask what was going on.

When he arrived at the living room prepared for the large families, a group of people came out of their respective single rooms.

There was an LCD monitor on the coffee table in the middle of the parlor, which was also showing the stock prices in real time. A group of people gathered around to watch the stock market.

Most of these people, like Ma Changxing, were new to the market. They already knew each other.

In the middle of the conversation, a number of large-cap stocks, such as Shenzhen Development, got rid of their straight-line decline and started to pull up again.

"What's going on, what's with the drop just now, aren't they protecting the market?"

Ma Changxing's voice was shaking a little.

This afternoon, in one and a half days, his total assets have shrunk by 5%. The loss of close to 100,000 yuan is far beyond his psychological capacity, knowing that he may not be able to earn half of this amount even after a year of hard work.

"It's like the word out of there is that one fund has no money in its account, and now it's another fund pulling itself."

"Out of money? How could the IU have no money?"

There were screams from behind Ma Changxing's back. The few people who came up with him were in a similar situation to him.

How is it possible that the IFTU has no money?

IU and its affiliated funds, which add up to tens of billions of dollars, still have the money.

If the IU is willing, it is possible to buy the entire stock market!

The psychological impact of the news that IU had no more money was a blow to everyone's faith level.