Rebirth of the investment era

The entire market investor group is paying close attention.

The stagnant market in the two cities started to jump instantly. Benefiting from the brewing of pre-market sentiment and the driving effect of the external market, most of the industry sectors and concept sectors in the two cities showed a higher opening trend. There were nearly 2,000 stocks in the entire market, with 1,400 The remaining branches showed a red trend.

Among most industry sectors and concept sectors that opened higher.

On the main line of 'technology growth stocks', a number of core concept sectors such as 'Internet finance', 'e-commerce', 'Apple concept', 'domestic software', and 'film and television entertainment' all showed an obvious trend of opening higher. , ranking at the top of the growth list of concept sectors in the two cities.

Among them, in this core concept sector, a number of popular core concept stocks with relatively high market attention and investor discussion have opened higher, which is even more eye-catching.

For example, 'LeTV' opened higher by 23%; 'Hengsheng Electronics' opened higher by 29%; 'Sanjiang Shopping, Xinhuadu, Pegasus International, Business Bao, Small Commodity City' and other 'e-commerce' concept stocks, all It opened higher with an increase of more than 2%; Apple concept stocks such as "Crystal Optoelectronics, Subbed, Lexun Precision, and Changying Precision" also opened higher with an increase of about 1%; even the old "Shanghai Steel Union" After yesterday's daily limit, the monster stocks opened higher by more than 5 points in the early stage of today's call auction, and they have the momentum to continue to hit the daily limit.

Compare this to stocks in the 'technology growth stocks' sector that are generally strong across the market.

The traditional investment fields that are biased toward the main board, especially the 'military industry', 'steel' sectors, and even the entire 'pan-infrastructure' field, which once had a profit-making effect and the following sentiment of capital groups in the market performance yesterday, have been , or the discussion enthusiasm among market investor groups, and even the topic level, are much weaker.

Even in the entire traditional investment field, the two most popular industry sectors of 'military industry' and 'steel', as well as their corresponding concept sectors, have not even been able to reach the top five positions in the growth lists of industry sectors and concept sectors in the two cities. , completely losing the possibility of continued spread of emotions and hype.

However, the overall performance of "pan-infrastructure" industry sectors and concept sectors such as "military industry" and "steel" is not outstanding.

Regarding the core concept stocks bought by Fortune Road yesterday.

As well as the market hype and discussion heat, which have remained relatively high in the market, such as "Beijiang Communications Construction, Shanghai Construction Engineering, Tianshan Cement, Shibei High-tech" and other stocks.

The performance on the board is not bad either.

These tickets have maintained a relatively obvious trend of opening higher. Among them, "Fushun Steel" even opened higher by more than 2%.

"Haha, the market trend is really coordinated!" At 9:16, seeing the initial collective bidding status displayed by the market, in the Shenzhen Stock Exchange at this moment, inside Pingyin Asset Management, the main fund trading room, general manager Liu Ziliang had a stern face. He couldn't help but smile, "This trend in the peripheral market has come at the right time."

Fund manager Chen Shen stood beside Liu Ziliang, nodded slightly and said: "Indeed, after this wave of emotional stimulation, the main investment concept of 'technological growth' should quickly become popular among the people. The vast number of investors in the market are following this main direction." Consistent investment expectations will also be formed faster."

"It seems that our previous prediction of the market and investment layout did not have any problems." Liu Ziliang said, "Under this situation, I really want to see how the funds of the 'Yu Hang Group' will adjust their trading strategies?"

Chen Shen thought for a while and responded: "No one can go against the macro trend of the market. Although the 'Yuhang Group' fund is not small in size and has a huge influence on the market investor group, in the 'technological growth' 'With the development trend of this main line already unstoppable, I estimate that this main force of funds...should not be stubborn in the direction of traditional investment fields such as 'big infrastructure', and will inevitably reduce the corresponding weight of positions and increase positions. Market conditions Among them, there are other popular concept sectors that are developing well."

"It would be great if this fund really chooses this way." Liu Ziliang said, "We have worked hard to create the main line of 'technological growth', and the purpose is to make the market investment sentiment and expectations comprehensively improve in this direction. The outbreak attracted various funds that subsequently intervened and continued to support us, thus harvesting more profits from the market and rewriting the performance of our fund in the first quarter."

"Looking at it now..."

Liu Ziliang watched the market changes closely and said with a smile: "We are getting closer and closer to success."

"If the market trend completely shifts to the line of 'technological growth'..." While the two were talking, Gao Yixiang, the head of the fund trading team in the trading room, also interjected, "Then the 'Yuhang Group', the core main institution in the market, will The market should be completely empty, right?"

Chen Shen nodded and responded: "That's for sure!"

"More than that..." Liu Ziliang smiled and continued, "Once market trends, sentiment changes, and even investment expectations really turn to the line of 'technological growth', then the entire market will be affected in the short, medium, and even long term. There will be fundamental changes in the investment philosophy.”

"At the same time, the market is concentrated in the direction of 'technological growth'."

"It will also lead to further weakening of liquidity in the main board's traditional investment areas, such as 'big infrastructure', 'finance' and 'big consumption'."

"And that's when liquidity in those directions weakens."

"The impact is that active funds from all walks of life will increasingly flee these investment areas."

"Unsurprisingly, the pattern of 'Shanghai is weak and Shenzhen is strong' will be formed for a long time. At the same time, the market trend in the second half of last year is very likely to be repeated."

"If the market trend returns to the direction of breakthroughs based solely on the small and medium-sized boards and the GEM..." Gao Yixiang asked, "Mr. Liu, which main direction and concept sector should have the greatest potential for breakthroughs?"

Liu Ziliang thought for a while and said: "I believe that the main concept sectors with the greatest market potential are the 'smartphone industry chain' and 'mobile Internet'. Of course, under the favorable stimulus jointly released by the five ministries and commissions, The market conditions in the direction of 'film and television entertainment' are no different."

"In the direction of e-commerce and Internet finance, I feel that there is a lot of potential for the market to explode." Chen Shen continued, "I heard that many domestic financial institutions and financial companies, including our group, are calling out 'fintech. ' slogan, they are also stepping up their efforts to launch their own 'mobile Internet business ports', borrowing the thinking of 'Internet +' to give 'finance' a new meaning."

"Only in the two directions of 'Internet finance' and 'e-commerce'..."

Chen Shen paused for a moment and looked at Liu Ziliang. Seeing that the expression on Liu Ziliang's face did not change much, he couldn't help but continue: "We don't have too many positions. Now that these two major concept sectors have risen, we can't help but It’s great for planning and increasing positions.”

Liu Ziliang paid close attention to the collective bidding trend of the two major concept sectors of 'Internet Finance' and 'E-Commerce' in the market, and responded: "But it is not a pity. According to the changes in the overall market conditions, 'Internet Finance' and 'E-Commerce' 'These two major conceptual sectors follow the underlying logic of market speculation, which is still the two core logics of 'mobile Internet' and 'smartphones'."

"Yes!" Gao Yixiang couldn't help but flatter him, "'Smartphone' is hardware logic, and 'mobile Internet' is software logic. The main investment lines derived from these two core investment logics are the ultimate 'technological growth' The theme idea, and currently both the 'smartphone penetration rate' and the growth of the user group of 'mobile Internet' are still in the stage where the industry has just exploded. There is huge room for subsequent growth, and it can be used as a market for three to five years. Long-term investment themes, investing.”

"But the big investment theme of 'technological growth' has actually been mentioned by many institutions two or three years ago." Wang Jinglun, the deputy trading team leader of the trading room, hesitated for a while and then said, "It is true,' Smartphone penetration rate' and 'mobile Internet user growth' will definitely have huge room for growth in the future, but in the entire market, not just the domestic market, looking at the global market, various investment institutions and various investor groups, for this The investment expectations in the two main directions are already quite high.”

"I'm worried..."

Wang Jinglun paused for a while, thought about it, organized his language, and then continued: "Under such high unanimous expectations, once some core stocks in these two main areas, or leading companies in the industry, develop their business If performance falls short of expectations, it will easily drag down the overall market conditions in these two areas."

"Also... everyone is optimistic, which is not conducive to the continued acceptance of chips on the market, or to quickly create a certain difference in expectations and lead to a market that exceeds expectations."

"Jinglun, what do you mean by this?" Before Liu Ziliang could respond, Chen Shen quickly turned his attention to Wang Jinglun and said in a stern tone, "Are you saying that our choice of trading strategy was wrong from the beginning? Or is it? Do you want to say that you are the smartest person in this trading room and can understand this?"

Wang Jinglun was stunned and hurriedly explained: "Mr. Chen, I...that's not what I meant!"

"Okay!" Liu Ziliang frowned slightly, glanced at the three people in front of him, and said, "What Jinglun reminded is not wrong. It's just that we can't look forward and backward during transactions. Since the market has chosen the direction of 'technological growth', And since we have already taken the lead in holding positions in this direction, we can only follow the trend, guide the market as much as possible, and expand the scope of profits we can harvest.”

"As for the follow-up related core companies, performance, business expansion, and the growth space shown."

"That will happen later."

"Now, we only need to guide the current market sentiment, expand the money-making effect of the major investment main line of 'technological growth', and attract the broad investor base of the market to continue to deepen in this direction and continue to raise funds for our heavily held stocks. At the same time... we also targeted the funds of the 'Yu Hang Group' accordingly, and took the initiative in the market."

"Look at the long side and the short side, have a broad vision, and be solid on your feet."

"This is the essence of trading, and it is also the trading principle that we, as asset managers, should follow."

Hearing Liu Ziliang's warning, the three people in the trading room who were obviously a little uncomfortable nodded their heads, and then quickly turned their attention back to the trading interface of the two cities.

After a short discussion between the three of them...

The market trading time at this moment has slipped to 9:19.

On the entire market trading board, the so-called "technological growth" is the main line area, such as "Internet finance", "e-commerce", "film and television entertainment", "domestic software", "Apple concept" and other core concept sectors, and The trend of corresponding popular concept stocks is getting stronger and stronger, and they have fully occupied the forefront of the growth lists of concept sectors in the two cities.

As for the traditional investment areas of the main board, such as 'military industry', 'steel', 'real estate', 'finance', 'building decoration', 'building materials' and other industry sectors, as well as their corresponding concept sectors, the trend has fallen into contraction again. With the volume falling, the liquidity of funds on the market in various industry sectors is very poor, especially for super blue-chip stocks with a market value of 100 billion, such as 'Huaxin Securities, China Commercial Bank, China Pacific Insurance', etc. The matching trading volume is actually not as good as that of small and medium-cap concept stocks with a market value of tens of billions, or even several billions in the fields of 'film and television entertainment', 'Internet finance', and 'domestic software'.

"It's really a combination of ice and fire!"

Seeing that in the direction of the main board, the money-making effect and emotional enthusiasm shown in the initial call auction stage are really very limited, and even 'Fushun Special Steel', a conceptual leading stock with the support of 'Fortune Road' seats, the call auction trend, It is also falling steadily. At this moment, within Yuhang Minghui Capital, in the main fund trading room, the fund manager He Hong was helpless. He couldn't help but frowned and sighed: "Is the market really moving towards the main line of 'technological growth'?" Development and gone forever? Is it true that there are no opportunities in the field of 'big infrastructure'? It shouldn't be! The funds of the 'Yu Hang Group' have gathered on a large scale here. How can it be possible to make money in this direction? , can’t inspire it at all?”

Hearing He Hong's emotion, General Manager Xu Zhongji, who was standing next to him, responded in a deep voice: "Be patient. I always feel that the line of 'technological growth' is not so easy to completely overcome. History will repeat itself, but every time it is repeated The method is absolutely impossible to be the same.”

"Mr. Xu is still optimistic about the direction of 'big infrastructure'?" He Hong asked.

At this time, the market trading time has quickly jumped past 9:20.

I saw that after a large number of false pending orders were canceled, the market finally showed a real call auction state. Although the volume and performance of matched transactions were significantly lower than a minute ago, the overall market pattern of the two cities was There has not been much change. It is still the pattern of "Shanghai is weak and Shenzhen is strong", and stocks corresponding to "Technology Growth" are still the mainstream of high-opening stocks. A number of traditional investment sectors have mediocre performance. Not only are the market leaders buying orders Scarce, active selling is also scarce, and the overall liquidity is relatively lacking.

Xu Zhongji responded: "I'm not optimistic, I believe that the market will be in a '28 pattern' at any time, that is, it will not allow the vast majority of investor groups to make money. In the current main line performance of the market, 'technological growth' 'The overall valuation of this line is several times higher than that of many main lines in the traditional field. At the same time, the short-term increase is not small. Sentiments and expectations are already full, and there is no room to exceed expectations."

"What's more important is..."

"Under the current circumstances of the market, there is not much incremental capital to continue to enter the market to take over the market."

"Therefore, it is definitely not that easy to continue to hold high on the line of 'technological growth' and to open up new heights of space without undergoing a wave of drastic adjustments in the medium and long term."

"On the contrary, the popularity, emotions, expectations and other aspects have dropped in the direction of 'big infrastructure'."

"At this time, there is a good opportunity for breakthrough."

"If the funds from the 'Yu Hang Group' that are concentrated in the 'big infrastructure' line are really courageous, I think... they will take action under the current situation."

"Hey, I hope so!" He Hong sighed softly and nodded after listening to Xu Zhongji's analysis.

After the continuous layout at this stage, under the influence of Xu Zhongji, the current main positions of several funds under their company are also completely focused on the direction of 'big infrastructure', so... psychologically, He Hong must also hope The direction of market breakthroughs can be completely biased towards the field of 'big infrastructure'.

However, hope is hope.

After he sighed and turned his attention back to the trading boards of the two cities, a number of traditional industry stocks on the main board of the Shanghai stock market, as well as their corresponding blue-chip weights and popular concept stocks, were still losing blood, with a focus on Shenzhen. The industry sectors and concept sectors in the "Technology Growth" main line of the city's Small and Medium-sized Board and GEM, as well as a number of popular growth concept stocks, followed the deepening of sentiment and continued to rise under the influence of buying funds following the trend, with overall highs. The opening range is getting wider and wider.