March 31, 2026, surged high then pulled back, ending March!

March 31, 2026, Tuesday.

The last trading day of this month—yesterday I didn’t open any positions, but today is fairly calm.

Last night, the broader external market wasn’t great. U.S. stocks were down. Among those showing strong strength in the pre-market are baijiu, as well as real estate-related stocks. For real estate, I chose not to look. For baijiu, the main catalyst on the news front is that Moutai is raising its prices. To be honest, I feel that kind of news probably won’t amount to much—unless Moutai hits the daily limit, otherwise Moutai’s price increase doesn’t translate into any major positive development for others. Still, I picked a few baijiu names to see how things played out.

Yingjia Gongojiu, Liquor Ghost (Jiujiu), Huangtai Liquor Industry, Shede Liquor Industry, and Jinsenzhi Liquor, among them. Huangtai Liquor Industry opened and rushed toward the limit-up board; the volume wasn’t enough, so I didn’t go in. After that, baijiu stocks weakened, getting blown apart.

Afterward, there was some performance related to aerospace. Here, commercial aerospace and general aerospace overlap with each other. Commercial aerospace showed strength in yesterday’s sector. The news catalyst was that Galaxy Airlines had a report about a reusable rocket. For general aerospace, the news catalyst was that China AE (China Aero Engine) said that future aviation engines and so on have demand reaching xxx, with market cap xxx—basically, aviation and aerospace are all in one basket. So if you pick one of them, you can generally pick up exposure to the other. I chose Zongshen Power, AVIC Engine Control, Juyi Cable, Hisense Visual, and Tongyu Communications.

After that, the sectors started to become a messy jumble—autos, transportation, baijiu, precious metals, healthcare. I went to check the situation of today’s first-limit stocks. I found that many of the names had earnings. Songzhi Co., Ltd., Yutong Bus, and Amev Network, and so on. So the target basically switched to names with earnings.

I picked Juyi Cable, Tongda Co., Ltd., Zhongtong Bus, Gan & Lee Pharmaceutical, and PD Holdings. Among them, Juyi Cable rushed for the limit-up board—earnings growth plus commercial aerospace. Honestly, it was a bit tempting. (Let’s assume that if today wasn’t just trading the earnings line, it could also be hitched to the commercial aerospace theme.) Unfortunately, the volume wasn’t enough, so I didn’t go in. After that, Tongda Co., Ltd. prepared to rush for the limit-up board. I just went ahead and bought Tongda Co., Ltd.

The market I mentioned yesterday might have been “de-sensitized.” At the open, it really did give me a different feeling. But not long after, its true colors showed—downward all the way. By the close, the number of decliners was also up to over 4,000 stocks. This market probably doesn’t have much of a de-sensitized or not de-sensitized effect. It’s simply that it has its own unique pattern of thinking—charging forward headfirst along the road that goes against human nature.

Tomorrow, with the April start—hope Da A can be a little kinder.

I’ll check again tomorrow!