Rebirth of the investment era

Under the influence of this external trend.

The next day, in the morning, the pre-market sentiment in the domestic financial market was high again, and in this high sentiment, a number of technology companies such as LeTV, Wangsu Technology, Hengsheng Electronics, and Lexun Precision Growth stocks' attention and discussion have also skyrocketed.

As for the main areas of 'pan-infrastructure' such as 'military industry' and 'steel', which had a certain profit-making effect yesterday and were supported by good news, as well as a number of popular concept stocks, there are obvious signs of a decline in popularity compared to last night. .

"The market trend has been focusing on the 'growth stocks' line of small and medium-sized boards and GEM." At 9 a.m., before the market officially opened, at this moment, inside Yuhang Jingda Investment, in the main fund trading room, fund manager Lin Tingzong Observing the changes in market sentiment and the discussion of hot topics in major online stock forums, he smiled and turned to Gu Chijiang, who was standing aside, and said, "With the continued cooperation of external market trends, if the popularity continues like this, The market situation in the second half of last year has returned, and it is basically a certainty.”

Gu Chijiang also paid attention to the change in market sentiment before the market opened. He nodded slightly and was in a good mood. He smiled and said: "From the current point of view, it should be yes. The main institutions in the market have made great progress in the 'smartphone industry chain' and 'mobile phone industry' in recent days." On the lines of "Internet", "Film and Television Media", and "Internet Finance", there are really a lot of chips to increase positions. It feels that the institutional groups of all parties have indeed formed a consensus on the main line of "Technology Growth Stocks" Expected.”

"The key is the trend of the external market, which is also changing." Lin Tingzong said, "Investment institutions in the A-share market have always liked to follow the trend of external markets. With the continuous stimulation of the external market, this is better than domestic news. Stimulation works better.”

"I really didn't expect that in the past few days, institutional groups would increase their positions so aggressively on the 'technology growth stocks' line." When Gu Chijiang said this, he had to admire Lin Tingzong's previous judgment. , Hehe said with a smile, "Old Lin, you are still awesome. Our real-time adjustment of positions really caught up with the market."

Because of Lin Tingzong's decisive position adjustment.

In recent days, the net value of their company's main funds has soared. In three days, it soared by nearly 10 points, setting a new high in net value since the fund was established.

Lin Tingzong felt a little embarrassed when he heard Gu Chijiang's praise. He coughed lightly and said, "It just happened to catch up. However, despite the current market sentiment and investment expectations, they are still rapidly investing in 'technology growth stocks.'" This line has changed, but there is no doubt that the differences in the market still exist."

"You mean the 'big infrastructure' line?" Gu Chijiang said.

Lin Tingzong nodded and responded: "Yesterday's changes in the 'military industry' and 'steel' sectors did not completely trigger the 'big infrastructure' line, nor did it develop in depth, causing the speculation to spread in the traditional investment field of the main board. , but the money-making effect is not bad.”

“And due to the public position adjustment actions of the ‘Yu Hang Group’ funds and the influence of their ‘Fortune Road’ seats.”

"The vast investor base in the current market, in terms of market expectations, there are still many investors who are biased towards the direction of 'big infrastructure'."

"This is the source of market differences, and it is also the fundamental reason why several core market indexes have been fluctuating here and have been unable to rise. After all, there are huge differences in market expectations, which will seriously restrict the active follow-up capital groups on and off the market, and will also affect the market. The volume can explode, especially affecting the entry of incremental funds into the market."

When Gu Chijiang heard Lin Tingzong's words, he nodded and said: "The influence of the 'Yu Hang System' cannot be underestimated, but in the entire market, there is no money that can go against the trend. If the market investment sentiment and investment expectations, It has been developing towards the line of 'technology growth stocks', and the market's money-making effect is also expanding in this direction. So no matter how great the market influence of the 'Yu Hang Group' is, the market will still gradually move towards the direction of 'technology growth stocks'. If this direction shifts, the market pattern of 'Shanghai is weak and Shenzhen is strong' will still form and continue."

"After all, the fundamental purpose of the investor group entering the market is not to 'chasing stars', but to make money."

"Funds are like water. Wherever there is a money-making effect and where it is easy to make money, they will flow. No one can stop it. No one can stop it."

"Now……"

Gu Chijiang paused and continued: "Anyone with a discerning eye can see that the Shanghai Stock Exchange Index is trapped under the pressure of 2,300 points, and it is not easy to completely break through. At the same time, the amount of funds in the market is limited and cannot support the entire 'big infrastructure' of tens of thousands." With a market value of 100 million, we can only make side breakthroughs in the direction of 'technology growth stocks' with certain expectations, first driving the Shenzhen Index and the GEM Index upward, and then taking the breakthrough Shenzhen Index and the GEM Index as the core, the money-making effect will be slow Slowly spreading in the direction of the main board, eventually driving the Shanghai Stock Index to break through."

"so……"

“I feel that the current ‘Yu Hang Series’ funds cannot hinder the progress of this market trend.”

"On the contrary, I think..." Gu Chijiang thought for a while and then said, "The funds of the 'Yu Hang Group' have been using their market influence and the seat of 'Fortune Road' to lure investors and induce The general investor sentiment in the market and the main line divergence trend of the market will most likely shoot oneself in the foot."

"Why did Mr. Gu say that?" Lin Tingzong asked.

Although the trading strategy he follows is contrary to the investment direction and investment strategy of the 'Yu Hang Group' funds in the market, he has no doubts about the 'Yu Hang Group' funds themselves and even about Su Yu. I still admire this industry legend who has been rising for a year.

Gu Chijiang said with a smile: "Institutions are collectively advancing on 'technology growth stocks'. This is obviously to create the main line of 'technology growth stocks', with Shenzhen Stock Exchange and GEM as the core breakthroughs, and completely avoid 'Yu Hang'" It is the traditional investment fields such as 'large infrastructure' and 'military industry' that are dominated by 'Chongcang'."

"Through the performance of the past few days..."

“It can be clearly seen that the investment strategies of many core major institutional groups in the market are already on the opposite side of the ‘Yu Hang Group’ funds.”

"In other words, both are already too involved at the moment."

"The market is divided on the main line of market conditions, that is, whether it is turning in the direction of 'big infrastructure', with the Shanghai Stock Index breaking through as the main line, or with 'technological growth' as ​​the main line, with the Shenzhen Stock Exchange Index and the ChiNext Index breaking through as the main line. It is no longer just about trading. The difference between strategy and investment strategy is about the competition for the initiative in market conditions.”

"I have seen the rise of the 'Yu Hang Group' so quickly and the scale of asset management expanding so rapidly."

"Many envious people in the industry have already become itchy with hatred."

"But for a while, there was no way to deal with the funds of the 'Yuhang Department'."

"Today, as the 'big infrastructure' market develops in depth, the core positions of the 'Yu Hang Group' are actively exposed, and the peripheral markets, and even the global market, are driven by the main investment line of 'technological growth'. The so-called The era of investment in emerging industries has arrived."

"Under such circumstances..."

"The various institutions are concentrating on the direction of 'technology growth stocks', that is, to isolate the 'Yu Hang Group' funds, completely avoid the main areas where the 'Yu Hang Group' holds positions, and avoid supporting this fund. At the same time, they are also concentrating their efforts. , breaking the performance myth achieved by this fund in the domestic financial trading market in the past year."

“Didn’t you say before that the ‘Yu Hang Group’ funds have always been quite aggressive in terms of their operational strategies?”

Gu Chijiang finally smiled and said: "Such a radical operating strategy has resulted in a natural surge in performance, but if it fails, the performance myths previously achieved by the 'Yu Hang Series' funds will be completely shattered, and once this happens If such high-growth performance expectations are shattered, then the 'Yuhang series' funds that are currently being held up to the altar will instantly face the situation of being abandoned by the majority of investors. It is said that the higher you climb, the more painful the fall may be. , and... based on the current market trends and the continued emotional reaction, the 'Yu Hang Series' is destined to fall."

Lin Tingzong carefully considered Gu Chijiang's words and said, "Mr. Gu's words make some sense, but I always feel that Mr. Su from the 'Yuhang Department' should not be unaware of this risk."

Although he is very optimistic about the performance of the main line of "technology growth stocks" in the market outlook.

But he doesn’t think that the institutional groups are uniting on this main line to attack the funds of the ‘Yu Hang Group’.

Of course, it was difficult for him to understand for a moment... the 'Yu Hang Group', the main force of funds, and its recent continuous operations in the market, as well as its large-scale and continuous increase in positions and its firm and optimistic views on the traditional investment areas of the Shanghai Stock Exchange Main Board... .

"In this world, people who drown are often good at swimming." Gu Chijiang said with emotion, "Mr. Su from the 'Yu Hang Department' is only about 25 years old. At such a young age, even though he has a talent for market trading, Excellent, but it is inevitable that when you make great achievements, you will fall into an inflated mind and have certain cognitive barriers, feeling that only what you know is correct."

Lin Tingzong heard Gu Chijiang's emotion and thought of the many "short-lived" genius traders who had appeared in the domestic financial market over the past two decades. Thinking about Su Yu's age at the moment, he had to agree with Gu Chijiang. With this emotion, I finally found a more reasonable explanation for the question that I still can't figure out: "Why Yuhang, the main fund, insists on laying out heavy positions in the traditional investment field of the main board".

And when he found a reasonable explanation for this puzzling problem.

Almost subconsciously, Lin Tingzong instantly relaxed his thinking about the possibility that the market situation might turn rapidly towards the direction of "big infrastructure" and the corresponding risk awareness.

Just when the two of them conducted a comprehensive analysis of the pre-market market and determined their position plan and original trading strategy.

As the core of the discussion between the two.

At this moment, inside Yuhang Investment Company, in the main fund trading room, Su Yu stared at the heated discussion on the Internet about 'technology growth stocks', but he was quite satisfied.

Noticing the smile on Su Yu's face at this moment, he sat next to him and also observed the emotional changes in the two markets before the market opened. However, Li Meng, who was full of worry, didn't understand it at all. He frowned and asked: "Just this market sentiment performance." , why are you still laughing? I feel that after the stimulation of the external market trend last night, the domestic market investment sentiment and expected direction have begun to fully deviate towards the concept of small and medium-cap growth stocks, which is... quite detrimental to us! "

"Why is it disadvantageous?" Su Yu asked with a smile.

Li Meng was stunned and responded: "In the existing market, expectations and sentiments have been turning towards the field of small and medium-cap growth stocks. Naturally, the main board's 'big infrastructure' direction, which we lead, and even the 'military industry' direction which finally recovered yesterday, The liquidity of active funds is even worse, and if we want to pull the market in these two directions, it will naturally be more difficult when expectations and emotions are not supportive."

"Yeah!" Su Yu nodded, "The points you mentioned are true, but don't forget that the vast group of investment institutions that focus on small and medium-cap growth stocks have inconsistent intervention times, and the holding costs are also inconsistent. , not only are they inconsistent, but there is a huge gap.”

“In other words, the chip structure is extremely chaotic in this direction.”

"The hot emotions before the market can only lead to the opening at best."

"But in the case of a chaotic chip structure and a market pattern of stock games, opening higher...do you think it is a good thing?"

Li Meng heard Su Yu's words, pondered for a while, shook his head, and said: "Based on the market performance of small and medium-cap growth stocks in the past few days, as well as the sharp increase in trading volume, it would be better to open higher. The overdraft of intraday trend expectations inhibits the enthusiasm of active short-term funds on the market to follow the trend."

"Yes!" Su Yu said with a smile, "High fluctuations, divergent trends, and enthusiastically opening sharply higher are the best selling points for short-term profit taking in trading."

"same……"

Su Yu paused and continued: "Yesterday, the 'steel' and 'military industry' sectors showed certain profit-making effects and market funds followed the trend. Today's pre-market investment sentiment and discussion enthusiasm are far behind the growth of small and medium-sized caps." This line of stocks, but the remaining intraday market market expectations are wider, making it easier for us to create unexpected profit-making effects and sector market trends during the session."

"The initial stage of the market outbreak, or the shock stage when the market volume is insufficient, or even the bear market stage."

"The expected trend of the intraday market when the market opens high is far inferior to the expected trend of the intraday market when the market opens low and fluctuates."

"To be honest, before this morning, I was originally worried and hesitant about the Shanghai stock index completely breaking through 2,300 points here, attracting on and off-market funds to flow back in the direction of 'pan-infrastructure', but now... I see the pre-market sentiment Instead, it concentrated on the concept of small and mid-cap growth stocks, which made me more confident and determined."

"In this world, everything has two sides, and so does trading."

"Many people see investment opportunities in the direction of 'technological growth' under the influence of emotions and guided by the external market, but they don't know that the more emotionally concentrated the direction, the less expected differences can be seen, and the more difficult it is to exceed expectations. market trends.”

"Because no one is a fool."

"The market will not let the vast majority of investors make money."

"When everyone realizes that this is an opportunity, in fact, this opportunity is often a trap!"

After saying that, Su Yu quickly turned his attention to the trading boards of the two cities without waiting for Li Meng's response.

At this time, during the brief conversation between the two and their analysis of the pre-market market, the time had already reached 9:15, and the two cities ushered in call auctions.