Rebirth of the investment era

"Why did the trend suddenly take a turn for the worse when it was clearly going well?"

Faced with the sudden and rapid diving trend of the market, many investors who were eager to pursue positions at high levels were panicked and suddenly lost their composure.

"What the hell, just now, I just said that my big A stood up, but I didn't expect...it was still a soft-footed shrimp."

"Isn't it poisonous? When you buy it, it goes down, and when you sell it, it goes up!"

"Is it so difficult to reach 2200 points? Who is trying to smash the market? It's crazy. It's crazy!"

"Damn it, forget it if you can't break through. After it surges higher, it dives sharply again. What the hell is it killing pigs and deceiving people? I'm just convinced!"

"With such a good mood today, can't we break through 2200 points?"

"It's hopeless, it won't even go up!"

"Breaking through the low 2,200-point mark is just like breaking through the 6,000-point mark. Is it so difficult? I thought the market had reversed, but I didn't expect it to be so useless!"

"I'll cry to death, I'm the one chasing after you at the highest point!"

"It buried me again. I watched it for two days but didn't dare to pursue it. But today it trapped me as soon as I chased it. This market has a grudge against me."

"You don't want to play like this. We have been killing for more than four months, and we haven't killed enough."

"This wave of rebound won't end like this, right? It's... too short!"

"Will it be the same as yesterday's trend, and the market trend will reverse again at 10 o'clock?"

"Yesterday I was washing my chips, and today I am making a breakthrough. Is it possible that I am still washing my chips to rush to a high position? It has always been a rush, then decline, and it is exhausted. There is no reason for the main force to wash the chips at this time."

"It's hard to say, let's take a look, let's take a look!"

Everyone complained, doubted, wondered, puzzled, stunned, and angry...

Market trading hours quickly passed 10 a.m. sharp.

In the last hope and hope of the majority of investors, the market did not usher in a reversal. Instead, it rebounded slightly, briefly rebounded to touch 2190 points, and then continued to dive sharply.

At 10:10, the Shanghai Stock Index fell back to within 2180 points, and the increase shrank to less than 1%.

At the same time, popular concepts such as 'infrastructure', 'state-owned enterprise reform', 'Shanghai Free Trade Zone', and 'Internet Finance', related industry sectors, and popular stocks have all fallen sharply, and selling has emerged one after another. The entire market has been It is no longer as strong as it was at the opening.

And after the collective riots, the 'securities' sector of the two cities directly collapsed.

At this moment, it was falling all the way, not only erasing all the gains since the opening, but also turning from red to green, and the sector index fell directly into the water.

"Damn it, who the hell pulled the 'securities' today!"

Seeing that the Shanghai Stock Index was on the road to filling the gap, it would never return, breaking through the 2200 point mark, which was completely a luxury. At the same time, I also saw that countless major funds in the market, as well as various investment groups, sold off after seeing that there was no hope that the Shanghai Stock Index could break through 2200 points. When chips are being used to stop profit or stop loss, at this moment in the Magic City, inside Principal Financial, in the 'Future Investment Mixed Selection' fund product trading room, the fund manager in charge of the product, Zhao Zhongming, became furious for a moment and cursed: "Mother Yes, the logic of the 'bull market' is not clear anymore. At this time, it would be strange to pull securities to distract the core funds of the market and not collapse the market. Stupid! It's so stupid!"

"What should we do now?" Yi Xiaopeng, the trading team leader, asked while Zhao Zhongming was furious.

At the moment when the index was on the rise in early trading, they followed up by significantly increasing their positions. Now...the floating losses of the funds for increasing their positions are already quite large.

It was also because of this that Zhao Zhongming was so angry.

Zhao Zhongming heard Yi Xiaopeng's words and knew that this was not the time to vent his emotions. He forced himself to calm down and said: "The Shanghai stock index failed to break through 2200 points. The large amount of money in the market that had high expectations before was inevitably lost when the expectations failed." If you cut your position and leave, and the index has been aggressively attacking for two days, it has accumulated a large amount of short-term profits. This adjustment may mean that you have to step back on the support of the box below."

"Hey, sell it! Sell some of the chips in your account."

"Just treat it as a counter-t today, control the loss to a constant amount, and maintain a certain position level at the same time."

"Since the index breakthrough failed and we made a mistake in the trading strategy, we must admit the mistake and stop the loss as soon as possible. It is a wise move!"

"Okay!" Yi Xiaopeng responded.

Immediately, he began to instruct traders to reduce the same chips used to pursue today's highs, lock in floating losses, and maintain the dynamic balance of positions.

And at the same time...

As Zhao Zhongming guessed, because the expectation of an index breakthrough failed, and at the same time, in the past two days, a large number of profitable funds were caught in the two main lines of "infrastructure" and "state-owned enterprise reform", and the losses were not large, I was afraid that the index would fall again. As the losses continued, many large financial institutions with further deepened their positions, and even many large investors and retail investors, began to switch from long to short, reducing their positions and selling off.

Of course, when these position holders sold out one after another because their expectations were not realized.

Many institutions and investor groups that originally missed out on the bottom-breaking market trend of "infrastructure" and "state-owned enterprise reform" and held very low positions are also buying in at this moment, increasing their holdings of what they consider to be cheap and high-quality chips.

Generally speaking, this is a time when the market's original shorts and bulls exchange identities and exchange bad opinions.

However, even if there is a considerable amount of funds, they are still taking over the market. However, on the whole, as the perception that "the Shanghai stock index failed to break through 2200 points" has become more and more deeply rooted in the minds of the majority of investors in the market, the market's active selling volume can , is still far greater than the volume of active buying.

At the same time, the market gathered strong bullish sentiment at the beginning of the session.

At this moment, with the continuous suppression of active selling and the continuous retracement of the index, it is also constantly declining.

In the end, as this kind of selling suppression and emotional exhaustion continued, at 11 o'clock in the morning, the Shanghai Stock Index completely wiped out all the gains from the high opening and fell back to near the flat market, while the Shenzhen Stock Exchange Index and the ChiNext Index had already fallen into the water. , have recorded declines of more than 0.75%.

As for the core main lines of the two cities...

The related industry sectors covered by the two main concepts of "infrastructure" and "state-owned enterprise reform", as well as their popular stocks, have also increased significantly lower than when the market opened, and the net worth of the main funds on the market has shown outflows.

Among them, the intraday gains of China Railway and China Metallurgical Corporation have fallen back to about 3%. Although they are still stronger than the performance of the two city indexes, the intraday amplitude has also reached 5%; after China Fortune Land Development and Kumho Group exploded, , the increase has dropped all the way to around 5%; after the Shanghai Steel Union and Waigaoqiao crashed, the increase dropped back to around 4%; after the Shanghai Sanmao and Hi-Tech Development crashed, they were relatively strong, maintaining around 7% .

The two cities, the entire ‘infrastructure’ and ‘state-owned enterprise reform’ fields.

Still maintaining a strong state, the only companies that have sealed the daily limit are Beixin Road and Bridge and Shibei High-tech, which are regarded as conceptual leaders by the majority of investors in the market.

Of course, although these two stocks are still at their daily limit, their market volume has begun to gradually increase.

Among them, the transaction volume on the Shibei High-tech Market has reached more than 30 million. No one can say whether its strong status can last until the afternoon close.

"This trend, I really guessed the beginning, but I couldn't guess the ending, unexpected, unexpected!"

After the Shanghai stock index flattened its gains, the situation in the two cities was not optimistic, and the time was approaching the noon closing time. In the trading room of the proprietary investment department of Huashang Securities in Yanjing, Liao Guanghua, the general manager, stared at the market and said with a smile: "The two cities The transaction volume is 60 billion, and it looks like it is expected to exceed 100 billion today!"

"If you can still laugh, it proves that you are still very optimistic about the market outlook." Zhang Guangnian, chief analyst of Huashang Securities, standing next to Liao Guanghua, said with a smile.

Liao Guanghua turned his head and looked at him and asked, "Why, you don't feel optimistic?"

"Let's see how the market goes in the afternoon!" Zhang Guangnian replied, "If we continue to sell lower, I'm afraid we will have to explore the 2000 point position again."

Liao Guanghua said firmly: "The fall won't be deep!"

"You are so sure?" Zhang Guangnian was a little surprised.

Liao Guanghua chuckled and said: "Of course! Pay attention to the burst of volume energy in the morning. The strongest wave was naturally the time when the market opened higher and broke through, but then as the market index fell rapidly, the volume energy basically failed. It has not shrunk too much, and near midday, the market has increased its volume again, with a transaction volume of 60 billion! This proves that the market commitment is still very strong, and the current funds are all in low positions. With the two days of 'infrastructure' and ' The two main concepts of state-owned enterprise reform have a money-making effect, and their willingness to increase their positions is quite strong."

"If you have short funds, wait for entry at a low price."

"Many fund companies and asset management institutions with low positions are eager to increase their positions."

"There are also large funds that have already tasted the sweetness and have taken large positions on the two main lines of 'infrastructure' and 'state-owned enterprise reform', taking the initiative."

"As well as the 2200-point hold-up that was initially loosened today and the short-term profit-taking that was almost cleared in the morning."

"How do you think this index, which was already at a low level, can fall when the selling pressure has weakened, there is a takeover, and there are several smartest main funds in the market controlling the market?"

"Besides, if you are Mr. Su of 'Yuhang Investment', you have finally opened the curtain on the two core main lines of investment, 'infrastructure' and 'state-owned enterprise reform', and you have taken the initiative in terms of chip costs and created a The initial money-making effect of the market, as the core control force of these two main lines, will you let these two main lines with very clear logic fall further, and let those who are short-term get on the train again?"

“In the current market, ‘infrastructure’ and ‘state-owned enterprise reform’ are two main lines of investment with clear logic.”

"It basically condenses the attention and sentiment of investors in the entire market. As long as these two lines do not collapse, the market sentiment will adjust and pick up again soon. The Shanghai Stock Exchange Index is supported by these two main lines, and other blue-chip stocks, valuations It has been compressed to the limit and cannot fall any lower, so naturally the Shanghai Stock Exchange Index cannot fall much further."

"Awesome!" Zhang Guangnian praised with a smile, "Your market analysis is really thorough."

Liao Guanghua said with a smile: "Look, after the huge earthquake in the afternoon, the trend will definitely exceed most people's expectations. Today's market trend can be said to be murderous without blood!"

As the two people spoke, the time reached 11:30, and the market prices in the two cities were frozen.

After the huge market shock in the morning, the Shanghai Index finally closed down at 0.23%, erasing all the gains at the opening and covering the gap opened higher. The Shenzhen Index and ChiNext Index fell close to 1% and closed down respectively. 0.89% and 0.96%.

Hot concepts and individual stocks.

Although the concepts of 'infrastructure', 'state-owned enterprise reform', 'Shanghai Free Trade Zone', and 'Internet Finance', which have attracted much market attention, have all fallen sharply and have gone out of the high-opening and diving pattern, the sector index growth and Generally speaking, the performance of individual stocks is still significantly stronger than that of several major indexes.

The concepts of 'mobile Internet' and 'smartphone industry chain' are obviously not favored by the main funds and have not been stimulated by the market's recent big news. Although the increase in the past two days was not large, today's trend is still weak and still underperforms the market. The index perfectly explains the market saying that "an old faucet is not as good as a dog".

Of course, there are two main concepts of ‘mobile Internet’ and ‘smartphone industry chain’.

Today's disk performance, although very weak, is not the weakest concept sector in the market and the most criticized by investors.

Today, the concept and industry sectors that are most resented and criticized by investors, and are leading the market decline in the index dive, are undoubtedly the out-of-time ‘brokerage’ sectors.

After all, this sector swallowed up a large amount of active funds in the market during the collective riot.

Not only did it fail to stabilize the market and help the Shanghai Composite Index stand at the 2,200-point mark, it turned around and fell violently, directly bringing down the entire market.

So, when the market closes at noon, during a short break.

Today, due to the failure of the index clearance, countless investors who were buried in chasing positions at high levels vented all their anger on the stocks of securities companies that performed extremely weakly and showed great strength but did nothing.

"I really didn't expect that brokerages would become the scapegoat for today's failed index clearance."

At around 12:40, in the internal trading room of Yuhang Investment Company, Li Meng returned to work after eating. After browsing countless hot discussion topics on the Internet, he couldn't help but smile and said to Su Yu. : "Have you never thought that under the circumstances of early trading, even if the brokerage sector does not diversify funds, the Shanghai Stock Exchange Index will not be able to stand at the 2200-point mark?"

"It doesn't matter whether you have thought about it or not!" Su Yu responded with a smile, "Everyone just needs a vent to vent their emotions, and it just so happened that the performance of the brokerage companies today hit the point of a gun, but... there is this vent, Very good! This way everyone will numb themselves in their hearts and rekindle their hopes for the Shanghai Composite Index to break through 2,200 points."

“What is lacking most in the current market is hope and confidence!”

"As long as everyone still has hope and a little bit of confidence that the Shanghai Stock Exchange Index will break through 2,200 points, it will be a success soon if we can give a little bit of support and stimulate the market's money-making effect, regroup emotions, and gather funds to follow the trend."

"So, it's good to have a brokerage as the scapegoat!"

"Listen to what you mean and the logic behind it..." Li Meng paused and said, "In the afternoon, we have to rely on the market to maintain the hope and confidence in everyone's hearts."

Su Yu nodded slightly and said: "Of course it is! The rebound trend that has been established with great difficulty cannot be abandoned like this, and... looking at the trend of the market in the morning and the amount of energy that has exploded, if you want to pick up chips at a low level, you can't. With less, we cannot allow the expectations and purposes of these funds to succeed."

"The only way to maintain the market is to prevent them from picking up low-priced bargaining chips."

"Maintain the rebound trend on the market and continue to short them."

"These positions are insufficient. If you want to raise a large amount of funds at a low level, you will have no choice but to follow up at a high level and continue to carry the sedan chair for us. This will maximize the profit of our positions and extend the 'infrastructure' and 'state-owned enterprise reform' to the maximum extent." These two main lines of speculation are the vitality of the market."

"Also, after the violent shock in the morning, the chip structure of the Shanghai Stock Index near 2,200 points has been significantly loosened."

"We will organize an offensive in the future, and the pressure will not be so great."

Hearing Su Yu's strategies and calculations, Li Meng was stunned, and then exclaimed: "Your long-short game using market funds is really amazing."

"Thank you!" Su Yu smiled softly.

Turning back to look at the big market screen in the trading room, I saw that the time had passed 1 p.m. sharply, and the stagnant disks of the two markets had begun to beat again.