Rebirth of the investment era

"Any questions?"

After hearing Lin Tingzong's complaints, Gu Chijiang asked from the side.

Lin Tingzong replied: "According to common sense, such a positive trend cannot support the trend of Zhezhou Oriental. It would be good to have a higher opening of 5% at most. What's more, this check has been speculated to the daily limit by hot money yesterday. It has already reached the daily limit." It can be regarded as a full reflection of the good news, but I didn’t expect...Mr. Gu, in the past two days, the reaction of the core main funds in the market to the concept of 'securities and venture capital' was a bit excessive!"

"Market sentiment and bull market confidence have increased, and the index continues to reach new highs. At this time, the main market funds are attacking the bull market benefit sectors such as 'securities and venture capital' to create higher market sentiment and space and consolidate bull market confidence. Is it normal? "Gu Chijiang said, "Hot money is focusing on concept stocks led by the GEM. Institutions cannot get suitable chips and are unwilling to pursue high positions, so they attack from another logical line to seize active capital flows in the market and create a sustainable market. , it makes sense to earn excess profits.”

"But the current market turnover is slow to expand, and it is difficult to support the 'securities and venture capital' sector to continue to advance!" Lin Tingzong said, "The securities riot is too early, and I feel that the funds of various institutions are a little eager for quick success."

“Isn’t it good that ‘securities and venture capital’ cannot continue to advance?” Gu Chijiang said with a smile, “If the market rotates like this, won’t it turn back to the GEM?”

Lin Tingzong replied: "Not necessarily. When the market turnover cannot continue to increase, the incremental funds cannot keep up, which means that the market is still a stock game, and in the market of stock games, active funds are relatively limited. If this part of the funds If you are caught in the market line of 'securities and venture capital', the two main lines of 'mobile Internet' and 'smartphone industry chain' will become even thinner."

"and……"

Lin Tingzong paused and said: "The current market is entirely supported by emotions."

"It is the continuous money-making effect of the market that continues to stimulate investment sentiment. That is why the sustained market situation has led to the continuous inflow of incremental funds."

"If the 'securities, venture capital' speculation market line fails."

"That is, if the market's continuous money-making effect can no longer continue, then the market's investment sentiment will quickly ebb, and a drastic adjustment... may be coming."

"I think this is a bull market..."

"But this is only the first stage of the market's continued bullishness, that is, market sentiment and market conditions are in a cycle of getting rid of the shadows of the past and confidence is slowly recovering."

"And the market, which is slowly recovering confidence, is still relatively fragile."

"Although everyone has good expectations for the market outlook, at the same time... they are also doubtful and do not have high self-confidence."

"In this case, once the market's money-making effect fades, there will be obvious adjustment signals."

"The market confidence built up during this period can easily collapse, causing the market to return to the sideways fluctuations seen in August and September."

"So... what are your plans?" Gu Chijiang paused for a while and continued to ask.

Although he did not completely agree with Lin Tingzong's views, he felt that the risks he mentioned still existed.

If the "securities and venture capital" line goes completely below expectations and traps a large number of active funds currently following the trend, it will indeed not be a good thing for the evolution of the entire market.

Lin Tingzong thought for a while and said: "I think the underlying logic and sustainability of the 'securities and venture capital' line are not as good as the 'mobile Internet' and 'smartphone industry chain', so there is no need for us to lose the opportunity." In this case, go long after chasing the position at this time.”

"But the trend changes of this line are extremely important to the overall market trend."

"So, although we are not involved, we must pay close attention to it."

"If this line creates market space, further enhances market confidence, and makes the bull market conclusion thoroughly rooted in people's hearts, then we will take advantage of this line when the hype is at its highest to use the last liquidity of our fund to Then break into the two core main lines of 'mobile Internet' and 'smartphone industry chain'."

"If this line goes completely worse than expected, there will be no signs of continued expansion in market turnover."

"That is, if this line fails to create new money-making effects and further enhance the market's bull market confidence, then we... must start to reduce our positions and quickly reduce fund positions to lows to welcome market adjustments."

"Generally speaking, this should be the key trend divergence point in the market."

"We must remain optimistic but also be wary of risks."

"You just have to be prepared to defend, and you can't aggressively increase your positions, right?" Gu Chijiang understood, "In that case... then just wait and see, don't do anything, and take a look at the next two moves of the market. Change the trading day!”

"Okay!" Seeing that Gu Chijiang agreed to his suggestion, Lin Tingzong couldn't help but smile and nodded.

Then, he quickly turned his attention back to the trading conditions of the two cities.

I saw... As the two people were talking, the time had reached 9:19, and the two cities were about to enter the real collective bidding stage where orders could not be cancelled. The overall market conditions changed in these few minutes, compared with the initial collective bidding process. When it comes to bidding, it's no different.

"The market is so good. It has been adjusted for two consecutive days. It can't possibly fall again today, right?"

At the same time that Lin Tingzong and Gu Chijiang were talking, in the office of the company's market analysis department next to them, Mu Yao's eyes were focused on the changes in the stock price of 'Hua Qingbao' on the computer screen, as well as his leveraged stock account. Regarding the changes in funds, I secretly prayed: "After two days of adjustment, it has reached the 10-day line, and the guy on Fortune Road did not sell yesterday. The market sentiment should have improved, and it should be possible to... restart the upward trend and reach new highs. !”

Those who are strong will always be strong...

In yesterday's market trend, he failed to catch up with the "securities and venture capital" market, but transferred almost half of his holdings to "Hua Qingbao", the most popular leading stock in the "mobile Internet" field. , I want to make a wave of "dragon turns back" market.

Moreover, similar to Lin Tingzong's idea, he does not believe that the current market volume is sufficient.

It can support the continuous breakthrough of the "securities and venture capital" line.

In his opinion, the core main line of the market, the areas with the most room for imagination and expectations for performance explosion, are still the conceptual sectors related to 'mobile Internet' and 'smartphone industry chain'. He feels that in the short term... no matter how the market changes , in the end the market will have to return to the 'mobile Internet' and the 'smartphone industry chain'.

And in the early stages of a bull market... only the model of "weights set the stage and small tickets perform" can gather market sentiment to the maximum extent and create a continuous continuous profit-making effect, thereby completely reversing the trend of the market and allowing this kind of bull market to Concepts penetrate deeply into the hearts of investors.

However……

The idea is good, but the actual market trend is completely different.

As the time entered 9:20, after a large number of false orders were withdrawn, several major core concept mainline related sectors such as 'mobile Internet', 'smartphone industry chain', 'reorganization backdoor', and their core concept stocks further Abandoned by market funds, the decline instantly expanded.

Among them, Mu Yao was staring at the 'Hua Qingbao'.

At the moment when the time passed 9:20, it was sold by a tens of millions of major funds on the market, and the decline suddenly fell from 0.87% to 2.23%.

"What the hell...sick!"

Seeing Hua Qingbao's weak collective bidding trend, Mu Yao couldn't help but curse.

He couldn't understand how the market-wide call auction trend was clearly very good, and Hua Qingbao had made sufficient adjustments in the past two days, so how could it go against the general market and go so weakly.

"The market is obviously still going up sharply today. The guy who smashed the market...did his parents die?" After uttering a curse word, he still felt aggrieved in his heart, "I don't believe it anymore, you made adjustments in advance. It’s more than ten points, and when the index is at a new high, can it continue to underperform the broader market index?”

He originally pointed to the stock 'Hua Qingbao' to make a comeback.

Now that the vote was far worse than expected, he was really upset.

Of course, what is even more irritating is that the Shanghai stock index has rebounded to a new high, and the market value of his stock account has returned to 300 million, and all profits have returned to zero.

As he complained and became depressed, time continued to march...

The emerging main line of speculation, 'Securities and Venture Capital', continues to be favored by funds; 'Mobile Internet', 'Smartphone Industry Chain', 'Reorganization and Backdoor', and 'Shanghai Free Trade Zone' are several early hot concepts The main line continues to recede, especially the line of 'restructuring and backdooring'. Today's call auction trend is even worse than yesterday. The large number of investors who chased this line in the early stage and did not have time to withdraw are simply wailing in their hearts and do not understand this. The reason for the trend.

Finally, at 9:25, the collective bidding in the two cities ended.

The Shanghai Stock Exchange Index opened higher at 0.79%, and the ChiNext Index opened higher at 0.23%. Among them, the Shanghai Stock Exchange Index hit a new rebound high, with the index crossing the 2360 mark.

Sectors and individual stocks.

The securities sector opened 1.36% higher, and the core stock Orient Securities opened 4.78% higher. The call auction turnover exceeded 100 million yuan, and trading was extremely intense. Huaxin Securities and Huatong Securities both opened about 1.5% higher.

The venture capital concept sector opened 1.59% higher, and the core popular stock Zhezhou Dongfang opened at the daily limit, with an increase of 10%. The entire call auction only saw 7.96 million transactions, which is basically an unlimited one-word board, and the closing funds were more than 300,000 lots. Equivalent to the circulation of Zhezhou Oriental, it can be said that it greatly exceeded market expectations.

Influenced by the sharp opening of Zhezhou Dongfang, the check of Dongfang Entrepreneurship was also rapidly attacked by funds, and finally opened higher at 6.83%, with a strong tendency to continue to rise by the limit.

Other popular stocks, such as Zhangjiang High-tech, Shibei High-tech, Zijiang Enterprise, Luxin Venture Capital, Tuozhong Shares, etc., all opened higher by more than 3%, which was significantly stronger than the index increase and sector increase, indicating the willingness to rush for funds. , extremely obvious.

'Mobile Internet' related concept sectors, such as 'mobile games', 'Internet finance', 'mobile payment', 'smart city', 'Internet information', 'network security' and other series of sectors, are all in a low opening state. Among the core popular stocks in its related sectors, Huaqingbao opened lower by 2.83%, Changqu Technology opened lower by 2.11%, Huake Financial opened lower by 1.81%, Flush opened lower by 1.13%, Oriental Fortune opened lower by 0.76%, and Tianyu Information opened lower 1.56%.

The performance of the concept sector related to ‘smartphone industry chain’ is similar to that of the concept sector related to ‘mobile Internet’.

Among them, especially the 'Apple Industry Chain' sector and the 'Wearable Devices' sector suffered heavy losses. The core popular stocks Anjie Technology fell 2.51%, and Fenda Technology fell 3.11% at the opening.

As for the concept of ‘restructuring and backdooring’.

Today, it was completely abandoned by funds and directly led the decline of the two markets.

Concept stocks that were hotly speculated by various funds in the early stage, such as Lianxin Yongyi, Weihua Stock, Tianrui Instruments, Hilong Software, Far East Stock, etc., all fell by more than 2% at opening, especially in a market that had just hit 15 consecutive boards. According to records, the "Xinwei Group", which has gone up more than 400% on its listing and has a market value of over 80 billion in one fell swoop, is almost as valuable as China Unicom Group. It has also been abandoned by major funds and opened with a drop of 6.37%. It is likely to continue to fall to the limit. potential.

"Active funds in the market are further flowing out from the early popular concepts of 'mobile Internet', 'smartphone industry chain', and 'reorganization and backdoor', and are rapidly pouring into the fields of 'securities and venture capital'!" Seeing this! At the opening of the two markets, Yuhang, inside the 'Yuhang Investment' company, in the trading room, Li Meng reported to Su Yu, "Today's market changes may be more dramatic than yesterday."

Su Yu nodded slightly and said: "That's for sure. As the news of the market's IPO restart spreads more and more widely, smart funds from all walks of life in the market will definitely quickly reduce their positions in 'mobile Internet' and 'smartphone industry chain' , 'Restructuring and backdoor', areas that have been over-speculated in the short term, have been transferred to the defensive sector and the benefit sector of 'IPO restart'."

“The more ‘market IPO restarts’ the message becomes clearer.”

“The more serious it becomes when main funds flee the GEM and flee from high-level conceptual sectors such as ‘mobile Internet’, ‘smartphone industry chain’ and ‘restructuring and backdooring’.”

"Expected overdrafts, coupled with the potential for major negative news."

"At this time, there should be no major players who dare to venture into the conceptual fields of 'mobile Internet', 'smartphone industry chain' and 'reorganization and backdooring'."

"Of course, the overall market investment sentiment and confidence are currently very good."

"Until news of the market's IPO restart officially comes, it will obviously be able to continue to stabilize."

"So, even if the smart main funds in these early hot concept areas are already in full retreat, but with the support of a large number of retail investors who have lagged behind the news and have relatively solid thinking, these main lines of early hot concepts are not so easy to comprehensively A collapse, a sharp downward trend.”

"Yeah!" Li Meng nodded, "For many main funds that are still heavily invested in the core main areas of 'mobile Internet', 'smartphone industry chain', and 'reorganization and backdoor', the current time window should Is this the last chance to retreat?”

"That's true." Su Yu said, "I just don't know how many people can realize it."

The vast majority of investors in the market are path dependent.

Although the market index is still at a new high at this time, the market style change and capital flow have begun to become clear, that is, the so-called risk points have begun to become highlighted. However, due to path dependence and the call for a bull market, the market is still quite Blinded by the hot money-making effect.

Even if there are many investors who vaguely realize that something is wrong, they may not be able to let go of their greed for profits.

Pull out at this time.

"No matter how many people there are, they have nothing to do with us for the time being." Li Meng smiled, no longer lamenting this question, and asked instead, "Today's opening trend of Zhezhou Oriental is somewhat beyond expectations, just as you expected before... ...The main funds in the market have increased their expectations for this check. Their intention to raise funds and speculate is very obvious, and there is a high probability that Zhezhou Oriental Group itself will add fuel to the fire, further catalyzing the market's speculation on this stock. .”

"Under such circumstances..."

"The space for the 'Oriental' stocks such as Oriental Securities and Oriental Venture Capital that we lead has opened up."

"I'm thinking, now should we continue to quickly and proactively grab funds, pull up rapidly, and continue to intensify the market trend of these tickets, or should we wait and see, intensify the change of hands of these tickets, and allow their internal chips to be adjusted more fully?"

Su Yu replied: "As long as the plan to restart the market IPO is finalized internally, the news will spread very quickly. Regardless of 'securities or venture capital', they can only have a wave of popularity. We do not have sustained speculation time, and the market is hot. It is impossible for the investment sentiment to remain at its current state after the news of IPO resumption spreads."

"So, take advantage of the fact that the market is still in a bull market fantasy."

"Still in the midst of an extremely hot follow-up effect."

"Then we must burn this fire to the extreme as soon as possible before the news officially comes out."

"There is no need to wait for the internal chips to change hands. After the market opens... directly buy large orders to grab chips. The more intense the better. At this time... the speculation is full of energy and confidence."

"The stronger the performance of individual stocks and sectors, the stronger the follow-up effect of funds will be."

"and……"

Su Yu paused, with a sharp gleam in his eyes: "The more urgent we buy, the more we can convince the super-major institutions in the two fields of 'securities and venture capital', as well as the majority of market investors who follow suit. The main positions of our fund are not in these two fields, so that they can continue to follow up and support us."

"Understood!" Li Meng nodded.

Then, according to Su Yu's wishes, he quickly issued trading instructions to the two trading teams.

As the order was issued, at this time, 9:30 has arrived, and the two cities have entered the official trading period.

I saw... the moment the market started to jump again, more than 200 million in funds from within 'Yuhang Investment' were instantly poured into 'Orient Securities, Orient Entrepreneurship, Shibei High-tech' and other markets.

Then, only ten seconds passed.

Dongfang Venture Capital has been rising in a straight line, and has been bought by a large number of orders, hitting the daily limit, and continues to detonate the concept of "venture capital" in the market!