2026.07.13 Recap: The market stays at a low point; enter with light positions

Three-step bidding trading trick, one bout of operations as fierce as a tiger; keep track of gains and losses, stick to the model without getting confused. [Taoguba]

Key takeaways:
1、The pre-market auction bidding pattern is my core trading method, refined through long-term practice and exploration;
2、Why choose the pre-market auction bidding model:
a、Solve the opportunity problem;
b、Quick and decisive, fast cash-out;
c、Avoid the back-and-forth hassles of swing trades;
d、Place orders before the opening buy point is confirmed;
3、The individual stocks mentioned in the article’s live trade check-ins are all stocks that are practiced in the morning pre-market slot on that day; all are “front-running” (ma qian pao);
4、Every day the article shares the process and reflections of the stocks being traded. Successes and failures are products of that day’s environment. The key is to achieve big wins with small losses, more wins than losses, and steady progress over the long run;
5、The pre-market auction bidding trading model is high risk and high return, not something you can master in a single day. If you stick with it for the long term, you can find a method path;
6、The article’s core content is divided into two parts: one is hands-on trading sharing, and the other is end-of-day close review;
7、If you’re a trend valuation (“trend price” investing) type, skip it—no need to waste time.

Today’s bidding auction practice

From the morning auction stock selection until 9:29, after filtering by comprehensive conditions, I selected Huate Gas. It closed -4% that day. Why choose it?
Below I’ll break down the detailed operation process.

1、Pre-market call auction abnormal-move dimensions (9:20-9:25)

1、Auction rise rate, premium strength

7.10 close 195.22 RMB, 7.13 auction open 215.96 RMB, gap up 10.62%. This is a large upside premium open driven by policy catalysis, exceeding expectations; last Friday the stock followed the MiniLED and semiconductor sector to collectively drop sharply, completing a thorough washout with no previous blowout upside action that would have overdrawn the move. Overnight funds were in line with the helium export ban policy and rushed in together. The premium was purely driven by theme positives, matching the hard-filter standard of the auction model: “bad news fully released + overnight policy catalysis gap up.” After 9:20, there were no concentrated cancellations of large buy orders; the order book stack remained stable; auction成交额 (auction成交 amount) far exceeded the average of the same period over the last 5 days. There’s no quantitative hype/诱多掛单. This is the top “industrial specialty gases / helium” subdivision recognition pick in the auction.

2、Auction sector sideways comparison (sector linkage validation)

Sector auction panorama: industrial specialty gases / helium sub-branch all opened high together. Jiu Feng Energy sealed 2 consecutive board-limit days with one-word limit-up. Shui Fa Gas opened limit-up. Huate Gas and JinHong Gas opened up 9%+. Multiple targets in the sector simultaneously showed large upside premiums, forming a complete positive linkage. This satisfies the model’s entry prerequisite: “the mainline subdivides collectively gap up”;
Sector fund diversion comparison: that day’s market mainline performed a high-to-low rotation. High-end semiconductors and computing power were all crushed. Funds flowed collectively into low-position defensive tracks supported by policy positives. Helium specialty gases were the only subdivision on the day that had a brand-new national-level policy catalysis. There was no suppression from theme-fund diversion;
Index auction comparison: Shanghai, ChiNext, and STAR 50 all opened lower across the board. Growth tracks were under broad pressure. Only industrial specialty gases showed independent strength in the auction, making the recognition even stronger.

3、Original auction entry game expectation

A 20cm high-volatility 科创 (STAR Market) stock with policy catalysis support to gamble on an intraday big bullish move of 10%-15%, with sufficient next-day ultra-short arbitrage space;
The stock completed deep pullback washout on Friday, then broke through the short-term consolidation box via a gap up at auction, creating a double long logic of both technical formation and theme resonance.

4、Intraday time-share走势复盘

At 9:30, it surged to the intraday high of 226.98 RMB, up 16.27%. During the spike phase, short-term quant and overnight bargain-hunting funds took profit in batches, and the intraday volume quickly shrank. Then it oscillated and fell back, with the low dipping to 205 RMB. The whole day traded in a narrow range around 208 RMB. It closed at 208.1 RMB, printing a long upper shadow bullish candle.
Time-share core characteristics: although it gapped up and spiked then pulled back, it never flipped green and never broke below the time-share average price support—this is a strong divergence and holding pattern. There’s a fundamental difference from last week’s Hanbo Gaoxin crash where it broke the average price and fell apart. In the sector, the leader Jiu Feng Energy sealed the limit-up, continuing to provide emotional support for the sector, and the individual stock had no one-way plunge risk.

2、Daily trend and technicals multi-timeframe decomposition（Stock-picking long bias foundation is solid）

1、中长期波段大趋势近 3 个月自 96.5 元启动最高涨幅 115.65%，完整沿 5/20 日均线标准多头上升通道，每一轮回踩 20 日线均快速反弹，波段主力资金持续滚动运作，无顶部天量出货结构，属于模式优先选择的趋势人气标的。

2、Short-term box structure and pressure-support (short-term consolidation box):

It oscillated within the 194-210 RMB range for 1 trading day. On 7.13 it auction-gapped up to 215.96 RMB, directly breaking above the box upper edge of 210 RMB, forming a standard “box breakout” auction buy point. This completely matches your box + auction trading system;
Key support: 10-day line at 203 RMB. During the day’s lowest at 205 RMB it accurately tested the line and bounced back. The medium-term long support remained intact;
Short-term pressure: prior-stage high around 230 RMB. The day’s spike to 226.98 RMB just touched the pressure zone. The wave profit-taking concentration was the core technical trigger for the spike then pullback.

3、Volume-price and trading float/chip structure analysis—volume:

7.10 Friday released heavy volume drop and washout of 2.32 billion RMB; 7.13 full-day turnover was 2.47B RMB. High-volume divergence ended green, belonging to “bad news fully out + policy catalyzed volume funds returning.” After the washout, turnover and rotation were sufficient;
Cost of chips: market average holding cost was 186 RMB. The day’s opening at 215 RMB was above the market average cost. All in-market holders were in unrealized profit, with no large amount of deep stuck holders’ sell pressure;
Turnover: 8.99% that day, healthy and active turnover. The stock’s nature stays high-volatility long term, which is a quality target for short-term auction bidding models.

4、All technicals meet the model’s hard standards

Complete trend, no large upside overdraw after a deep pullback washout on the prior day; policy catalysis leading to next-day gap up over 10%; auction breaks through the short-term consolidation box; sector collectively gap up with linkage; in an “ice point” broad-market environment, it still moves stronger against the trend. The entire screening process has no subjective loopholes.

3、Individual stock theme and event-driven underlying logic（core long foundation）

1、Core major policy catalysis (strongest underlying logic of the day):

On July 10, the Ministry of Commerce and the General Administration of Customs issued announcement No. 29 of 2026, temporarily banning export management for helium of all product categories, effective immediately on the day of the announcement with no buffer period. Global helium supply has already been shrinking due to Qatar route blockade and tightened export approvals from Russia. Domestic helium resources fully tilt inward. Domestic high-purity helium enterprises exclusively enjoy orders from domestic wafer fabs, AI computing liquid cooling, and aerospace defense and military industry. The supply-demand structure has completely reversed. The policy has medium-to-long term continuity and is not a one-day “tour” message.

2、Multiple core theme resonances, a scarce track across the whole market

The absolute leader in electronic-grade helium (mainline core): on the A-share market, the only 6N electronic-grade helium manufacturer officially certified by ASML lithography equipment. Helium business revenue accounts for the highest share across the market (45%). It supports EUV lithography, HBM advanced packaging, and AI computing immersion liquid cooling. Helium is an irreplaceable must-have for chip manufacturing, and AI computing expansion continuously pulls helium demand upward, growing every year by 16%;
Domestic substitution strategic resource: Russia has long-term crude helium supply sources via long-term contracts, with 70% of gas sources locked with overseas low-price long-term agreements, not affected by overseas supply contraction impacts. Domestic 12-inch leading-edge wafer fabs have market share over 60%. The space for domestic substitution is broad;
Aerospace defense + AI computing liquid cooling dual incremental track: helium is used for satellite cryogenic superconducting and rocket launch leak detection. High-end AI GPU liquid cooling and thermal management has only one suitable medium. Large-scale deployment of domestic intelligent computing centers brings new demand. Multiple tracks hedge the risk of relying on a single theme;
A full-category electronic specialty gases platform with 57 products achieving import substitution, covering the whole chip process including lithography, etching, and thin-film deposition—not a single business relying only on helium. Earnings growth stability is stronger.

3、Key for the theme to support the stock moving stronger against the market on that day

That day, all high-level tech tracks saw funds exit together. Only helium specialty gases had a new national-level policy catalysis, forming a distinct independent fund group-bonding branch. Theme logic includes both short-term policy-driven price increases and medium-to-long term domestic substitution expectations. Funds are willing to group-bond for risk avoidance in the broad-market “ice point” environment.

4、Sector dimension environment analysis（external core support behind the auction strength）

1、Sub-sector positioning

Industrial specialty gases / helium are the only brand-new policy-catalyzed mainline in the whole market that day. The main funds’ only net inflow is into this tech subdivision. The sector shows batch limit-ups; multiple targets jumped big by 20cm. Profit-taking effect is clear. It contrasts sharply with semiconductors and computing power being crushed across the board—an extreme “seesaw” effect.

2、Sector positive linkage advantage—the ladder of leaders is complete:

Jiu Feng Energy 605098: two-day limit with second board one-word limit-up; Shui Fa Gas limit-up; Huate Gas and JinHong Gas 20cm also surged in sync. Within the sector there’s both a space leader and multiple popular targets resonating—no situation where one single stock can’t hold up the whole sector.
Seesaw support from funds: the electronic semiconductor sector saw net outflow of 17.6 billion RMB throughout the day. Hundred-billion scale funds fled from high-position chips. A large amount switched into low-position helium specialty gases. Existing funds clustered into the subdivision track, and the auction buy orders had expectations of sustained fund continuation and support.

5、Complete summary of this auction operation

1、This auction buy fully conforms to my fixed personal trading model; no logic errors in execution

Auction layer: deep pullback washout on the prior day, policy catalysis gap up over 10%, stable large orders on the book without诱多; all meet the hard entry standards of auction bidding;
Technical layer: standard medium-to-long upward trend, auction breaks above the short-term consolidation box, high turnover with active 20cm 科创 target—every technical selection condition is met;
Theme/sector layer: the only brand-new policy mainline that day is helium specialty gases, with sector-wide gap up and a complete leader ladder. The track selection is precise;

2、Objective risks of the intraday spike-and-fall (points to optimize later risk control)

The stock’s cumulative wave gain has more than doubled. With the prior historical high at around 230 RMB, there are dense trapped holders. When it spikes into the pressure area, concentrated profit-taking is inevitable;
In a risk-off environment with extremely cautious aggregate market capital, funds don’t dare to lock in a theme for the long term. Short-term profit holders have a very strong desire to cash out at higher prices;
The STAR Market sector had an exodus of hundred-billion scale funds. Even if the subdivision stands alone and runs stronger, it will still be dragged by broader market sentiment, making it hard to stay one-way sealed all day.

6、Plan for tomorrow’s response

Strong: if the sector continues with high-open and high-run one-way upward, you can hold the position with a broader mindset; otherwise if weak, exit directly.

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Close review

Last Friday the market dumped on heavy volume; high-position semiconductors and computing power collectively cashed out. Funds switched into commercial aerospace, defense, and medical defense sectors. Today continued with weak consolidation, with the entire market opening lower and trending lower; growth tracks suffered another round of concentrated sell-off. Funds kept flowing into defensive low-position sectors like banks, oil and gas, and traditional Chinese medicine. Both markets saw shrinking volume; market panic sentiment was further amplified. Short-term sentiment hit a complete ice point.

1、Index observation

1. Closing of each index
   Shanghai Composite: 3913.79 points, -2.06%, a one-way decline all day; intraday low at 3900.67 points; only bank weights provided a slight bottom support
   Shenzhen Component: 14522.85 points, -3.48%; technology and new energy weights were hit hard across the board, with the biggest decline
   ChiNext Index: 3723.52 points, -3.10%; storage, lithium battery, and display sectors dragged the index with a large pullback
   STAR 50: 2001.46 points, -3.91%; the biggest decline across the whole market among broad bases; batch drops in semiconductor storage and testing/packaging
   Beijing Stock Exchange: 1147.26 points, -4.03%; small-cap themed stocks were punished the most severely

2. Volume comparison

On 7.10 Friday, both markets’ total turnover was 3.41 trillion RMB; on 7.13 Monday, both markets’ total turnover was 2.83 trillion RMB, a contraction of 0.58 trillion RMB. The decline came with continued shrinking volume. There were no buy-the-dip funds from outside the market. In-market funds were forced to reduce positions and exit. There was an absence of “without volume slow bleeding” characteristics (阴跌). Northbound capital sold growth tracks in one-way large-scale amounts.
**
2、Market data**（excluding ST and delisting stocks）

Leading sectors: state-owned large banks, coal and oil/gas, TCM innovative drugs, industrial specialty gases
Lagging sectors: storage chips, optical communications, PCB, lithium battery resources, commercial aerospace, AI computing power, MiniLED optics
Number of advancers: 801
Number of decliners: 4683
Limit-up count: 32 (including 20cm STAR Market / ChiNext targets; excluding ST limit-ups)
Limit-down count: 176; concentrated in prior high-position tech and theme speculation small caps—batch stampede breakdown occurred
Consecutive boards situation:
First board: 18, mainly low-position defensive names in oil and gas, TCM, and banks;
Second board: 6, a small amount of specialty gas and coal subdivisions upgraded;
Third board and above: 3;
Failed board rate: 38.6%. Market risk-on sentiment was cold. Vast majority of theme names jumped up and quickly dumped; limit-up durability was extremely poor.

3、Leading hot spots

1、Market leading mainline: banks + oil/gas coal + TCM (triple defensive mainline)

Main driver event: Middle East geopolitical conflict escalated, pushing up international crude oil and gold prices, making the defensive attribute of cyclical resources prominent. TCM companies’ interim results are more certain, and the sector’s long low-position valuations are set for repair. With economic stable-growth expectations, state-owned large banks’ valuations are at historical lows; funds flock together to hedge the pullback risk of growth tracks.
Representative stocks: Suzhou Bank (002966), Shaanxi Coal Industry (601225), Longshen Rongfa (300589). TOP3 sectors by net inflow of main funds (unit: 34.1k RMB)
① Petroleum and petrochemical: +36.72
② Banks: +22.19
③ TCM and biopharma: +11.45
Sector core net inflow stocks: PetroChina, China Construction Bank, Tianmu Pharmaceutical.

2、Weaker sectors with large outflows of capital (Friday兑现, today continued selling) TOP3 sectors by net outflow of main funds (unit: 28.3k RMB)
① Electronic semiconductors: -176.31
② Power equipment new energy: -72.45
③ Computer computing power: -24.86
Core stocks that escaped (sector representative targets, with synchronized heavy reductions and sharp pullbacks that day): Zhaoyi Innovation (603986), CATL (300750), Inspur Information (000977).

3、Newly emerging breakout hot spot: industrial specialty gases driven event:
On July 10, the Ministry of Commerce and the General Administration of Customs issued Announcement No. 29 of 2026, implementing temporary export ban management for helium of all product categories. The announcement took effect immediately on the day with no buffer period.
Helium belongs to electronic specialty gases that are essential for advanced semiconductor processes. EUV lithography, HBM packaging, and etching steps are all irreplaceable. Combined with synchronized supply contraction from Qatar and Russia—the two major global helium-producing countries—global spot helium prices surged, and domestic helium self-produced and electronic specialty gas companies prioritized locking domestic wafer fab orders. The supply-demand pattern improved significantly. The sector had previously undergone deep adjustments; funds used the policy catalysis to rotate and position for risk avoidance toward domestic substitution.
Representative stocks: Jiu Feng Energy (605098), Shui Fa Gas (603318).

4、Summary of today’s market

Today followed Friday’s high-position tech profit-taking adjustment. Both markets shrank in volume and slid one-way lower. Market data clearly showed extreme divergence: only 801 stocks closed green, while 4683 stocks fell. Limit-ups were only 32, but limit-downs were as many as 176. Money-losing effects spread everywhere. Existing funds performed extreme high-to-low switching: prior popular tracks like semiconductors, computing power, aerospace, and new energy continued to be sold off by hundred-billion-scale funds. All the funds clustered into defensive low-position sectors like banks, oil and gas, and TCM. Short-term sentiment fell to the ice point. Failed board rate was close to 60%. All mid-level consecutive boards broke down with no continuation. High-position trend stocks and pure-theme small caps saw severe multiple-kill and stampede. Only low-position undervalued defensive subdivisions had occasional scattered arbitrage opportunities.

5、Judgment for tomorrow

The shrinking-volume “sideways drift down” pattern is hard to reverse in the short term. The 3900-point support will likely face repeated tests. The high-position semiconductor, computing power, and aerospace tracks still need to digest sell pressure from profit-taking. In the short term, avoid all high-position doubled-growth theme names. The bank, oil and gas, and TCM defensive sub-lines are only suitable for low-position lurking. In execution, strictly control position sizing (light positions only), only absorb on divergence at low positions for performance defensive targets; do not catch the bottom in high-position tech trend stocks that have been dropping for two consecutive days.

After the sails pass, stay true to your original intention. Wishing to join you in mutual encouragement: in this brutal yet fascinating stock sea, we’ll wait together for the next launch point with gentle winds and fair weather.

It’s not easy to type this out. If today’s review gave you inspiration, please don’t hesitate to like, recommend, and support with rewards. Every interaction from you is the source动力 for me to keep doing daily deep end-of-day reviews. The comment section is welcome for everyone to exchange your trading insights from today—let’s evolve together in real execution. See you tomorrow for the review!