March 22, 2026 Weekend Review - Declaring War!

Hear ye, stock markets are the hub of a nation, the treasury of the common people. In ancient times, wise sages established markets to facilitate the flow of goods and services, set fair prices, nurture enterprises, and benefit the common folk—relying on value and integrity to sustain long-term growth. The rise and fall of the stock sea reflect the fortunes of countless families; trading transactions reveal the fairness of the natural order. However, in recent years, the advent of quantitative techniques has emerged, showcasing cunning and disrupting established rules, relying on technology to deceive the masses, leading to a chaotic market ecosystem, where justice is absent, goodness is punished, and disorder prevails. I, an unworthy scholar, wish to wield my pen as a sword, issue a proclamation to the world, condemn the crimes of quantification, restore market order, and soothe the hearts of investors. [Taogu Ba]

Quantitative trading, armed with algorithms as blades and computing power as edges, claims the name of technology to carry out plunder. Its methods are nothing more than borrowing milliseconds to peek at order book gaps, wielding programmatic power to pursue arbitrage in private. In the past, trading was human-centered—analyzing company fundamentals, observing industry trends, or relying on accumulated experience—where profits and losses were fair competitions. Today, quant traders abandon value and integrity, using millions of orders per second to create false volume; splitting accounts to evade regulation; employing high-frequency turnover to bleed retail investors. Their actions are like wolves invading sheep, thieves breaking into treasure vaults—reckless and unrestrained.

The harm is threefold: First, it disrupts market order. As quant scale intensifies, a significant portion of the trillion-dollar trading volume is fake, inflated by invalid order placements, creating a false prosperity—volume data distorted, trends diverging from reality. Stock price movements are no longer linked to performance but follow algorithmic fluctuations; order book activity ignores market laws, responding solely to program instructions. Traditional chart-reading techniques and investment strategies have become useless; index rises while individual stocks fall, volume increases while wealth diminishes—an abnormal state that shocks the eye. This is the first crime of quantification.

Second, it usurps the bottom line of fairness. Quant traders enjoy exclusive access to privileged channels, hosting servers near exchanges with microsecond delays; investing huge sums to upgrade hardware and optimize links to gain speed. Ordinary investors, using mobile phones and public channels, face delays of seconds, with information lagging behind—by the time they place orders, prices have changed, leading to chasing highs or being stopped out. This is not a matter of inferior skill but an inherent unfairness. Quant traders exploit technological advantages to target retail traders precisely, deploying tactics like a hungry tiger stalking lambs—bleeding their funds without mercy. This is the second crime.

Third, it drains the vitality of the market. Quant strategies focus solely on short-term arbitrage, ignoring corporate growth or real economic development—only seeking zero-sum gains and profit harvesting. Thousands of billion-scale private funds thrive, totaling over two trillion yuan, all profiting from retail investors’ losses, feeding on market blood. During extreme conditions, quant algorithms synchronize closing positions to cut losses, triggering stampede-like declines, liquidity evaporates instantly, stocks hit limit down with no volume, retail investors helpless and tearful. Over time, market confidence erodes, funds withdraw, quality companies struggle to raise capital, and the real economy suffers—this is the third crime.

Fourth, it destroys the original intent of investment. In the past, investors entered the market for retirement funds, appreciation, or supporting industry—holding reverence and acting prudently. Now, with rampant quantification, markets become casinos, value investing is discarded, and speculation flourishes. Restless hearts chase gains and sell at lows; trust collapses, complaints rise—these are all consequences of quant chaos. Elderly investors see their lifelong savings vanish; entrepreneurs’ capital evaporates; countless families break apart; many investors suffer heartbreak—this is the fourth crime.

Heaven’s law cycles unerringly; justice is never absent. Quant traders, overestimating their skills, believe they can dominate with cunning—yet, reliance on tricks always leads to defeat; strength alone cannot guarantee survival. Just as Zhao Gao’s manipulations led to disaster, and Cao Cao’s tyranny drew eternal scorn, today’s quant harms surpass those of the past. Their paths are condemned by gods and men alike, and heaven and earth refuse to tolerate them.

Hereby, I issue this proclamation to the world: All conscientious investors should unite under righteous banners, condemn the crimes of quantification, refuse to be harvested, and stay true to their original intentions; wise individuals should write to regulators, call for strict oversight, abolish channel privileges, and standardize quant behavior; regulatory agencies must scrutinize meticulously, wield the sword of justice, crack down on false trades, punish violations severely, restore clarity to the market, and fairness to investors.

Alas! The stock sea flows with justice; public sentiment aligns with heaven’s will. Without eliminating quant chaos, markets cannot be stable; without punishing evil, the people’s hearts remain restless. May thunder strike to purge quant evil; may pure hearts protect market stability. Let the market return to its essence, where value shines, the common people find security, and the nation prospers. Those stubbornly resisting and continuing their evil deeds will face divine retribution, be disgraced, and leave a lasting stain.

This proclamation is hereby announced for all to hear.

Quantitative methods cannot be eradicated overnight; from today, we declare war. Behind quant lies humanity—humans have flaws, and there are ways to break through; otherwise, the market’s very purpose is meaningless!

Friday’s market review (market progress)
Returning to Friday’s scene, based on Thursday’s decline of 5,000 stocks, today’s market once again neared the threshold of 5,000 stocks falling, providing context for analyzing the main forces’ intentions.
Today, opening prices for stocks like Yi Zhongtian and Tongyi were mostly high, with Ruisi Kangda opening flat, Mingpu Guangci upgrading to second board, and Xin Yisheng opening 6 points higher (closing 8 points). Many attribute this to the US market’s overnight surge, as related US stocks rose sharply, so related sectors here also surged. Let’s analyze whether this logic holds.
First, if we follow the mapping to the US market, high opens are understandable, but no subsequent decline occurred—despite the impact of new energy stocks, it was merely a shakeout; in the afternoon, indices already fell into a crash-like pattern. Historically, even without this environment, high opens tend to fade; with current conditions, only optical chips and optical communications held firm, then retreated. Those who persisted today either have strong logic or are protecting the market.
Second, Nvidia fell last night; what about Xin Yisheng and Zhongji Xuchuang? Previous positive signals weren’t absent, so why did they open so high?
According to institutional logic, perhaps from optical communications to memory chips to optical chips, the focus is on segment-specific speculation (weights must be stable for branches to ferment). Could there be a negative signal like Tianfu Communication’s March 17th bad news? Can retail investors profit from this? What is the purpose of institutions?
At close, I kept pondering:

1. Cultivating retail traders’ swing trading mindset—many are already suffering losses from this.
2. Learning from US stocks—ultimately mimicking the “Seven Sisters” and flipping back and forth!
   The first is undeniable, but the second needs consideration. The US “Seven Sisters” are mainly industry leaders; if our stocks like Yi Zhongtian emerge, they are suppliers. If they are suppliers, then Industrial Fuxian shouldn’t behave this way—that would disprove the logic! CATL and Sungrow are still okay because they are our advantages, which should be upgraded. If this logic holds, future hype will focus on subdivided segments of China’s “Seven Sisters,” with others driven by quant pulses. Can this logic stand? If from a new energy perspective, yes; from a tech perspective, no, because the dominant players differ. The US side also balances power, but tech dominance outweighs new energy. The bottleneck in technology is greater than in new energy. The biggest dilemma is that this will be the long-term trend, but short-term uncertainties and personal biases influence judgment. These uncertainties can only be refined through daily review and updates.

Back to intraday, when Yi Zhongtian opened high in the morning, the ChiNext had already opened high, providing support. Ningde Times also rose intraday. If the index has a task here, then the question is: Is Oriental Wealth necessary to be cut today? If due to annual report reasons, Yi Zhongtian’s feedback can be reflected in the bidding, why can’t Oriental Wealth? Comparing several factors, only new energy is the main target of the main force, aligned with energy substitution logic. But the movement here isn’t very smooth—initially, power sector fermented, then energy storage, followed by Musk’s photovoltaic news, and finally lithium mines.
In power, Huadian Liaoning advanced to fifth board; Huadian Energy to second. The sector seems to be speculating on “energy” stocks like Yin Xing “Energy,” Huadian New “Energy,” Dongfang New “Energy,” Guangxi “Energy” sources, Shao “Energy” shares. In the afternoon, GCL “Energy” Tech, which is energy storage + “energy,” failed to hold gains. In the morning, Jin Kai New “Energy” also fell sharply. The sector surged at open, then retreated, with some intra-day rebounds—normal in this environment. Over these two days, the sector has repeatedly risen then fallen, which seems normal. First, retail investors now know quant methods are weak, so they sell; second, these days resemble a stock-market crash, with most retail investors taking profits. The best response for power is to wait for a better environment, and during this period, Yunnan Energy and Hang Electric should not have issues. If the market drops another two rounds, power stocks may not withstand.

Energy storage, as discussed in Thursday’s review, should be the focus if the ChiNext is to stand out. Despite Yi Zhongtian’s unexpected factors, intraday energy storage was the strongest. Previously, it was mainly Xinhang New Energy; now, the strongest is Shangneng Electric. Historically, energy storage has thrived in bear markets, often driven by exports. This week, the market is similar to a bear market. Also, the frequent mention of no rate cuts or hikes affects sentiment—short-term, unlikely; quant factors, however, are unavoidable. Intraday, Shangneng Electric still surged near the close, while Deye Shares declined. Given current market confidence, who will buy? The question isn’t about the future but about how to judge now. We already predicted energy storage’s potential on Thursday (not by market rally but by what it rallies on). Based on that, Friday’s forecast included coal, which can be validated later. We can preemptively adjust or verify in real-time to counter quant effects (note the wording—two approaches, leaning toward real-time verification).

Photovoltaics surged due to Musk’s PV device news, which isn’t new. At noon, news was released; in the afternoon, Jiejia Weichuang, Maiwei Shares, and other equipment manufacturers surged to limit up, with JunDa Shares hitting the limit instantly, then collapsing. The logic is that even if orders are signed, how many are real? The focus is on equipment benefits, and intra-day, silicon and cells are being promoted—not for commercial aerospace’s main rally, nor supported by environment, and less than quant effects. Also, consider the next day’s continuation—this month’s biggest lesson is that trading must be very precise.

Lithium, compared to photovoltaics, is relatively contrarian—dragged down by cyclical factors and poor overall environment. Ganfeng Lithium still hit the limit-up. In the morning, the strongest were electrolyte materials like Shenghua, positive and negative electrodes like Putailai. In the afternoon, lithium mines gained. These are essential for batteries. From today’s perspective, lithium is an extension of energy storage; if it strengthens again, it warrants close attention.

The overall market is strong but misapplied—funds are not evenly distributed, and ongoing negative stories like CreaData’s halt and subsequent rumors, pork price rallies, all indicate issues. The second half of the day, resistance collapsed—no vitality. Four words: no one is alive.
Many ask when the market will stop falling, how low the index will go. Many look at the Shanghai Composite, but I believe it’s meaningless; I focus on market sincerity. The bottom limit can only fall so many points—either mimic the US “Seven Sisters” and produce a few, or the market remains unstable. But at this moment, we shouldn’t overreach or imitate blindly. Whether US, Hong Kong, or Shanghai, they are all in a bearish trend. Conclusions drawn in a pessimistic environment are often biased; just maintain a broad view.

Next, combine the new ice point volume method to judge when the market stops falling. Past indicators include the number of declining stocks, limit-down stocks, and limit-up stocks—imprecise, especially now, prone to false rebounds. On Friday, the main force has the ability but chooses not to act; no need for deep judgment. Likely, there will be another sharp drop on Monday, aligned with the US overnight plunge. The key is whether it opens high and then falls—if it rebounds at high levels, then the lower limit stabilizes, indicating a temporary rebound; if the upper limit drops and the lower limit reverses, it’s worth watching. Otherwise, it’s useless.

March’s market not only disheartens new investors but also frustrates veteran investors and speculators. Various quant surrender letters and discouragements reflect retail boredom. But the main force won’t pity you; truth is in your own hands. Pushing things to extremes has drawbacks; excessive quantization loses its original meaning over time. Our goal isn’t surrender but declaration of war. Markets are born amid declines—especially now, controlling positions is key. Small dips mean small opportunities; big drops mean big opportunities. I sense it won’t be long—perhaps mid to late next week, opportunities will arise. Stay tuned for the moment when bullets are loaded!

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