Rebirth of the investment era

Not only the relatively weak fringe concept stocks showed obvious signs of large-scale selling, but also the signs of large-scale selling appeared on the market of core popular stocks. The outflow of profit orders was quite fierce, and as the core weight of the securities sector, 'Huaxin Securities and Huatong Securities' also opened their daily limits, and their stock prices fell rapidly.

"Are emotions transmitted so quickly?"

Seeing "Huaxin Securities and Huatong Securities" break through the market in a flash, and all the main funds were withdrawn, Mou Zhengxing, who had just placed the main sell order, was dumbfounded: "One moment, I was chasing the highs desperately, for fear that I would not be able to buy chips, and now I was desperately canceling the order. , selling desperately, this change in the market... is really unexpected.”

“There was a huge wave of funds just now, but it’s obvious that the volume has not kept up.” Fang Xinsheng said on the side, “But the bleeding effect of other sectors in the two cities is still increasing, so... as long as there are smart funds in the market , we know that the market will not be able to pull up without adjustment here. The 'securities and venture capital' sector has insufficient capacity and insufficient acceptance. Naturally, the profits that were still in a wait-and-see mood before have surged out."

"Xiao Mou, you don't have to think so much..."

Fang Xinsheng paused and continued: "Just take all the non-core hot stocks we have in the 'securities and venture capital' fields and buy them out at once."

"All of them have been sold according to the market price." Mou Zhengxing responded.

And with the sound of his voice...

The two core popular concept sectors of the market, "Securities and Venture Capital", have both broken the market and their stock prices have fallen when "Huaxin Securities and Huatong Securities" have fallen. Their sector indexes, as well as many stocks in the sector, have already experienced a diving trend.

Immediately afterwards, at 10:46, the net inflow of funds in the securities sector dropped from a maximum of 3.36 billion to less than 3 billion, indicating that in this sector, the follow-up situation of the main funds at this moment has changed from a net inflow to a net outflow, and the main selling force Suppress buying and take the lead.

At 10:48, the securities sector index fell from a maximum of 6.57% to 5.55%.

At 10:50, Huaxin Securities and Western Securities broke the market. In the securities sector, the number of daily limit stocks dropped sharply from eight at the previous peak to four. At the same time, Wanqi Enterprises, Fudan Fuhua also opened its daily limit, and the number of stocks in the sector dropped sharply from 11 to 7.

At 10:53, the Shanghai Stock Index rose from a maximum of 2.57% to less than 2%.

At 10:55, the securities sector index fell below 5%, and the net inflow of funds in the sector fell back to around 2 billion. The main capital outflow of 100 million was changing almost every minute. At the same time...it has been extremely weak since the opening of the market. The core concept sectors of GEM, that is, the concept sectors related to 'mobile Internet' and 'smartphone industry chain', have ushered in significant buying. Huaqingbao and Wangsu Technology, two early popular stocks, have undergone deep adjustments. , the stock price showed a sudden upward movement, and it seems that the main funds are doing speculative operations of switching between high and low.

At 10:57, the securities sector index continued to fall back to about 4.5%, the stock prices of "Huaxin Securities and Huatong Securities" both fell back to around 6%, and the net inflow of funds in the sector fell below 2 billion, but the net outflow rate began to weaken.

At 11:01, the securities sector index remained in a range of 4.25% to 4%, the 'venture capital' concept sector index fell by 4%, maintaining a range of 3.5% to 3.85%, while the growth rate in the GEM direction Concept areas related to 'Mobile Internet' and 'Smartphone Industry Chain', namely 'Mobile Games', 'Electronic Information', 'Apple Industry Chain', 'Wearable Devices', 'Network Security' and other conceptual sectors have rebounded significantly. , sector indexes turned red one after another, among which Huaqingbao and Wangsu Technology rose by more than 4 points in a straight line, catching up with the gains of the Shanghai Stock Exchange Index in one fell swoop, outperforming the market indexes of the two cities.

At 11:02, the ChiNext Index returned to the 1% growth mark, and the growth gap with the Shanghai Stock Index shrunk to less than 0.5 points.

At 11:05, the Shanghai Stock Exchange Index continued to fall back to an increase of 1.45%, and the ChiNext Index maintained an increase of about 1%. After experiencing a rapid plunge, the two cities returned to a stable state. However, during this period, the "reorganization and backdoor" This line has been falling again and again without any improvement. The stock price of Xinwei Group, a core concept stock, failed to rebound and was hit by a large amount of funds near the limit.

"The trend of the market spreading to the entire 'big financial' field, and the extreme explosive trend of the securities sector collectively hitting the daily limit, actually failed!" Facing the market conditions that have stabilized after the plunge, at this moment Yanjing, Shen Within Hua Fund, fund manager Chang Li couldn't help but sigh, feeling very regretful in his heart, "My emotions have reached this point, and it's a pity that I didn't rush forward."

"The market volume is slightly insufficient. Coupled with the securities sector index, within three trading days, it surged by more than 15%. It has broken away from the range that had fluctuated for nine months and entered the heavy pressure level of the hold-up market. It is difficult to get over it for a while. It's normal." Next to Chang Li, Lin Zhaoye, director of the Fund Management Office, said, "But... after such a move, the chip structure above should have loosened."

"When the market sentiment continues to stabilize, the market will fluctuate a little and adjust, and clean up some profits and floating chips."

"The next impact will be easy to pass."

"Now that the market has formed strong expectations of a 'comprehensive bull market', coupled with the announcement of the resumption of IPO, there are still a few days left, so the 'securities and venture capital' line, the dive here, is not considered a market trend. The turning point can only be regarded as a short rest before the real general attack!"

"I'm afraid that some ignorant hot money will take advantage of this short adjustment to lead the market back to the GEM direction and the related conceptual fields of 'mobile Internet' and 'smartphone industry chain.'" Chang Li frowned slightly and said , "Before the hidden news of the market's IPO restart has not officially surfaced, it is entirely possible that the market will change in this direction, and once it changes in this direction... the main line of the market and active funds will be dispersed, then' It will be difficult to go further in the securities and venture capital industry."

"It shouldn't change in the direction you said." Lin Zhaoye thought for a while and said with a smile, "There are a lot of smart money in the market, and there are so many well-informed people. We can get the news, and other people with deep backgrounds Institutions and even private equity funds can definitely do it, but in terms of time, it may not be so timely.”

"I believe...the heavy news of the market's IPO resumption is suppressed."

"Compared with the GEM, which refers to 'mobile Internet', 'smartphone industry chain', and 'film and television media' with higher weight attributes, these are the main concepts that are popular in the early stage. There will not be any big opportunities, and it will not be able to gather too strong sustainable momentum. Money-making effect.”

"Besides, although these main lines of popular concepts in the early stage have been adjusted a little, compared with their several times increase, no matter the time and space for adjustment, it is still not enough."

"So, I'm sure..."

"After the short-term adjustment of the market, the core main direction of attack will definitely return to the line of 'securities and venture capital'. After all, under the negative news of the market's IPO restart, only this conceptual line has an obvious future. Expectations can be called a safe-haven sector in the market.”

"So, we should...keep our current positions unchanged?" Chang Li asked.

Lin Zhaoye nodded and replied: "Looking again, it seems that it is not yet time to sell out positions on a large scale to take profits. At least... although the market plunged just now, there was no obvious panic outflow." When investing in the concept sector, there are no extreme trends."

"Okay, let's take another look." Chang Li thought for a while and nodded.

In the final analysis, although he actually had a little worry in his heart, he was unwilling to sell out his position on a large scale to stop profits. First, there were still several days left before the best time to withdraw his position; second, The main position of the wealth path he was waiting for has not been fully entered. At this time, all positions are taken out to take profits. Firstly, the profit is not big, and secondly, it cannot lock the opponent.

And as the two communicated...

At this moment, Yuhang, inside Jingda Investment, the trading room.

Gu Chijiang and Lin Tingzong looked at the market that suddenly plunged and changed, and saw that it was weak at the beginning of the market, but now rebounded significantly, showing that the 'mobile Internet' and 'smartphone industries' have succeeded the 'securities and venture capital' market. The two major funds in the chain's heavy holdings encountered difficulties for a while.

Originally, the two men's previous consensus strategy was to resolutely reduce their positions in consideration of the potential risk points in the market.

But now, after Gu Chijiang inquired around, he did not hear any news about the restart of IPO in the market. Moreover, there were obvious adjustments to the end of the fund's heavy positions, and there were signs of a return of the market. With regard to the previous plans to significantly reduce positions and stop profits, Strategy, I can't help but hesitate again.

"Old Lin, there are obvious signs of recovery on the GEM!" Gu Chijiang said.

Lin Tingzong knew the meaning of Gu Chijiang's words. He pondered for a moment and said, "Mr. Gu, my suggestion... is to continue to reduce positions and keep the profits first."

"Although there is no clear negative news in the current market."

“But Fortune Road’s recent trading movements on the market are not wrong, and there is no problem with our previous analysis and its logical relationship.”

"If we are greedy for a little profit at this time, I am afraid that we will lose even more good opportunities to play."

"besides……"

Lin Tingzong paused and continued: "In this wave of diving just now, the 'securities and venture capital' line has only slightly differentiated the market. Its core concept stocks, such as Oriental Securities, Zhezhou Oriental, Oriental Venture Capital, Shibei A large number of popular stocks such as Hi-tech, Zhangjiang Hi-Tech, and Zijiang Enterprises are still tightly sealed without any loosening, which shows that the market trend of this line has not come to an end yet.”

"As for the market trends of the 'securities and venture capital' line, if they continue to be interpreted in the future."

"As for the two early popular main lines of 'mobile Internet' and 'smartphone industry chain' that are responsible for the market, there is still no sustainable market development opportunity."

"Recently, the index has reached new highs one after another, but we have repeatedly missed the market rhythm. In the new high index, not only did we fail to make money, but we also lost a lot. In trading... I think mentality is a more important thing. If we are eager to make money now and want to quickly make up for the losses of these few trading days, we may become even more unbalanced and wrongly follow the rhythm."

"Therefore, I suggest that we reduce our positions and take profits first, take a look at the next development of the market, and wait until the market changes further and the certainty continues to increase."

“Don’t Mr. Gu often say that ‘the opportunities in the market are endless’?”

"In this case, when we have made up for the annual losses and the fund performance has also achieved the established annual goals, why are we in such a hurry?"

"Actually, sometimes, in market transactions, slow is fast, and fast is slow!"

When Gu Chijiang heard Lin Tingzong's words, he thought about it and realized that he was indeed too anxious. He couldn't help but said: "Okay, now that you have made a set investment strategy, then execute it step by step. In the trading market, 'slow is fast'" The saying "fast is slow" is worth understanding!"

After figuring out the key...

Gu Chijiang feels that without catching up with the market trend of "securities and venture capital", if the GEM picks up at this time, the two main lines of "mobile Internet" and "smartphone industry chain" may take over from "securities and venture capital" 'The high level of risk and profit in the market is indeed a bit crazy, so I no longer think about changing the trading strategy.

However, just when the two of them weighed the pros and cons and decided to continue implementing their previous trading strategy...

In the analysis room next door where the two of them were.

After Mu Yao borrowed money to replenish part of the margin, he watched the early popular stocks such as Hua Qingbao, Changqu Technology, Fenda Technology, and Internet Speed ​​Technology rebound strongly, showing signs of regaining lost ground and returning to the main line of the market. Like a red-eyed gambler, he had an extremely excited look on his face. Before the market closed at noon, he bought all the last bit of liquidity in his hand, hoping to take advantage of the strong rebound of these heavy stocks. In one wave, the losses of the previous two trading days were earned back together with profits.

"I finally understand that the Shanghai Stock Exchange Index and the GEM Index are just a seesaw." After buying, Mu Yao, who was full of excitement, said confidently, "Now the line of 'securities and venture capital' has reached the stage At the high level, at the node of adjustment, the profit-making funds will definitely be used to buy backhand sectors related to the two core concepts of 'mobile Internet' and 'smartphone industry chain'."

"I don't believe it anymore..."

"Under the strong expectation of another round of high-low switching in the market, the two early main lines of 'mobile Internet' and 'smartphone industry chain' are not yet able to achieve a decent rebound."

According to his current positions, not to mention the popular stocks in his hands, if they rebound to the new highs set earlier, as long as he can rebound by 10%, he will be able to recover the account losses with interest and make a substantial profit. And at this position... a 10% rebound, Mu Yao thinks is a high probability.

After all, the market currently has sustained future expectations and is a conceptual sector with strong imagination.

The line of ‘big finance’ headed by ‘securities and venture capital’, and the line of ‘emerging economy’ consisting of ‘mobile Internet’ and ‘smartphone industry chain’.

And only these two lines have a strong enough effect of making money continuously.

The speculation of active funds in the market has inertia.

Therefore, Mu Yao believes that in the main line of speculation of 'securities and venture capital', the chip structure has loosened and the market has begun to enter the adjustment stage. The other line of 'emerging economies' has been adjusted for several trading days and is already at a relatively low level. Lines will inevitably break out.

Moreover, as the most core popular leading stock in the "emerging economy" line.

Huaqingbao, Changqu Technology, Fenda Technology, Wangsu Technology... these stocks will inevitably be the first target of main funds when the market rotates.

As he excitedly talked to himself, 11:30 arrived.

In the end, the Shanghai Stock Exchange was priced at an increase of 1.38%. Although it fell back significantly, it still stood firm at the 2,400-point mark, maintaining a streak of consecutive rebound highs; the GEM was designated at a 1.18% increase, standing at 1,370 points. , setting a new all-time high.

In addition to index performance, sectors and individual stocks.

The strongest performance in the two cities was still the concept of 'securities and venture capital'. Although the growth rates of the two major sectors fell back by almost half compared with the intraday high, they still maintained an increase of more than 3% in the end, leading all industries in the two cities. Section, and its conceptual section.

Following the concept sections related to "securities and venture capital" is the "Internet finance" in the direction of GEM.

Then consumption, infrastructure, real estate, and 4G communications also performed.

As for the concept sectors related to 'mobile Internet' and 'smartphone industry chain' which have been receiving much attention and have underperformed the market for several consecutive trading days, even leading the decline of the two markets, and have undergone substantial adjustments, today they opened lower and then fell. The trend of significant rebound, related concept sector index, rose slightly behind the GEM index.

Of course, the concept sectors related to 'restructuring and backdooring', especially the ST sector, continued to be abandoned by mainstream funds on a large scale. At one time, when the market dive was at its fiercest, there was a trend of limit-down trend, and stocks related to the concept led the two markets to fall. And occupied the forefront of the decline list in the two cities.

"Unexpectedly, despite the rapid plunge, the index actually hit a new high." Looking at the market prices of the two markets at noon, Li Meng smiled in the trading room of the 'Yuhang Investment' company and felt a little a little bit nervous. Unexpectedly, "The trend of the GEM in the morning is really unexpected. I thought... Under the potential negative pressure of the market IPO restart, a large number of profit orders came from the 'securities and venture capital' line, and I will definitely not touch it again." The GEM, at least, will not encounter high-level corrections again, and stocks in the two core conceptual fields of 'mobile Internet' and 'smartphone industry chain' have insufficient time and space to adjust."

"It's not surprising." Su Yu said, "There are a lot of smart people and smart money in the market, but with the huge base of market investors, the information is not that well-informed, and the macro insights are not that clear. I firmly believe that this is In a comprehensive bull market, the index will only go all the way north, and there will be a lot of retail investors and hot money."

"Excluding the potentially major negative effects of the IPO restart in the market..."

"According to the morphological analysis that the market is in the early stage of the bull market, after these funds made profits on the line of 'securities and venture capital', they turned to attack the core popular main line concepts that have been adjusted in the index for several consecutive trading days. , there is nothing wrong, but it is quite a smart move.”

"It's just a pity that the basic logic and prerequisites of the operation are wrong."

"Yeah!" Li Meng responded, and continued, "The market differentiation in the 'securities and venture capital' line in the morning has already emerged. What do you think will happen to the two markets in the afternoon..."