Rebirth of the investment era

"Don't say it yet, it's really possible!" Xu Xiang pondered for a while and said, "If the active capital groups in the market continue to be siphoned off by the main lines of 'infrastructure' and 'military industry', everyone's expectations will further concentrate on the blue-chip stocks with heavy weight on the main board. , leading to the revaluation of the blue-chip value of the entire market weight, then the market trend... there is a high probability that it will be directly one-sided in the direction of the Shanghai Stock Exchange Main Board."

"Revaluation of weighted blue chips?" Zhou Kan said in shock, "Is this... impossible?"

"Why isn't it possible?" Xu Xiang asked with a smile.

Zhou Kan thought for a while and responded: "First of all, the overall fund activity in the market is not high. The intraday transaction volume is still below the low market level. The overall market is still in the game stage of existing funds, and there is a serious shortage of incremental funds. It cannot support the sustained market trend of heavyweight blue chips.”

"Secondly, the overall investment confidence in the market has not been restored, and it is difficult for potential market investor groups to be quickly attracted to the market. At the same time... now the 'Internet finance' industry has exploded, and P2P has become popular, which has attracted a lot of active capital groups in the market. , which has resulted in relatively tight funding for active market activity.”

"This situation, if the market is not stimulated by a sustained money-making effect or a bull market effect, it should be difficult to fundamentally change."

"Finally, on the macroeconomic front, although the data in the second quarter are better, they are still very limited."

“At the same time, after the global economy has emerged from the impact of the 2008 financial crisis, it still has not completely gotten rid of the long-tail effect of the crisis. There is still considerable uncertainty. Moreover, from a technical analysis of the US stock market, it does seem to be shaky. The worries are huge.”

"Technical aspects, financial aspects, macro aspects...have not yet completely reached the turning point."

"Under such circumstances, it is really hard to believe that the market's heavyweight large-cap stocks can achieve a revaluation driven by a sustained wave of big market trends driven by continued large capital."

Xu Xiang heard Zhou Kan's analysis and said with a smile: "Your analysis makes sense to a certain extent, but in fact, the points you mentioned are only based on the current situation. In terms of static logic and dynamic logic, the Fed's decision The interest rate meeting has already released some positive signals.”

"What signal?" Zhou Kan was a little confused and continued to ask.

Xu Xiang said: "According to the news from the recent Federal Reserve interest rate meeting, the Federal Reserve has slowed down the pace of future interest rate hikes and is not in a hurry to tighten money. And this impact... will inevitably spread to central banks of various countries, thereby indirectly affecting various countries." Basic financial policies, and even financial trading markets.”

"For our country..."

"From last year to this year, the two bank money shortage crises should have sounded the alarm within the financial system."

"According to my recent observations, because the emerging 'Internet finance' market has absorbed too much active funds, there is an obvious lack of liquidity in the entire economic market, and the current Federal Reserve has slowed down the pace of future interest rate increases. This in disguise gives our country’s central bank a certain amount of room for policy implementation.”

"Boss, what do you mean..." Zhou Kan's eyes visibly lit up and he continued, "The central bank will release liquidity on a large scale in the future?"

Xu Xiang nodded and said, "That should be the case."

"An interest rate cut or a RRR cut?" Zhou Kan said excitedly.

Xu Xiang responded: "I can't say for sure, but whether it is an interest rate cut or a RRR cut, it can release some capital liquidity on a large scale. When the capital liquidity in the market becomes abundant again, then for the stock market, The so-called shortage of funds and the obvious lack of funds in active markets are no longer valid.”

"Coupled with the direct stimulus effect of interest rate cuts and RRR cuts on finance."

“And under the national ‘big infrastructure’ strategy, the market is gradually gathering strong investment expectations in the direction of ‘infrastructure’, ‘military industry’ and other main boards.”

"There is also the main line of 'technological growth', which is no longer enough to accumulate funds and distracts the market's attention and disguised support from funds."

"Multiple factors influence each other and interact with each other."

“In the blue-chip sector of the main board, investment expectations are getting deeper and deeper, triggering a wave of revaluation. In fact, it is entirely possible.”

"As long as the main board's blue-chip weight area is concerned, the logic of value revaluation is established, and it is expected to be recognized by everyone."

"Then, if the Shanghai Index breaks through 2,500 points, there will basically be no huge pressure."

"As for after the Shanghai Stock Exchange Index breaks through 2,500 points..."

Xu Xiang smiled slightly, paused, and then continued: "Then if we continue to move forward, it will be an open world without obstacles. At that time, market investment confidence will quickly recover, and the market's overall investment expectations will also increase. Coming stronger and higher.”

"And as the index continues to rise."

“When the money-making effect of the market expands step by step, the potential investor groups outside the market will not be able to withstand the temptation and accelerate their entry.”

“Even the large amount of market active funds locked up by the emerging ‘Internet finance’ industry.”

"Under the influence of the ultimate money-making effect and the induction of higher profits, companies will gradually flow out of the original industry and enter the stock market."

"That is, as long as the two fires of 'infrastructure' and 'military industry' burn brightly enough and can truly open up the market space and make money, and make market expectations further concentrate on the main board field, then... we have all been looking forward to and talking about it for a long time. It's possible that a 'bull market' will really appear here."

When Zhou Kan heard Xu Xiang's majestic market analysis, he became more and more excited. He laughed and said: "The boss's idea is still grand. I don't dare to think directly in the direction of the 'bull market'. But according to your idea, boss" After analysis and careful consideration, it is really possible.”

"Bold guess, please verify carefully." Xu Xiang said with a smile.

Zhou Kan nodded and responded: "That's true, but according to your conjecture, boss, the position structure of our fund will have to be changed again."

"Yeah!" Xu Xiang nodded and responded, "We have to slowly clear out the chips in the 'technological growth' line. Although we don't have many chips in this line now, now that we know In this main line area, there will be no market in the short to medium term, so there is no need to keep some chips and waste the funds here."

Zhou Kan smiled and said: "I think so too."

After saying that, he began to instruct the traders in the trading room to further reduce their positions and clear out the chips in the main line of 'Technology Growth' held in the fund account.

"Oh, by the way..." Zhou Kan just finished giving the order and then said, "What do you think of the two concepts of 'Internet finance' and 'e-commerce'? According to today's market trends, these two concepts The sector feels that expectations have not been fulfilled, and the intensity of financial speculation and attacks is still relatively strong. Our fund has some chips in these two areas, and I am thinking, should we reduce it at this time, or not?"

Xu Xiang squinted his eyes and glanced at the trends of these two concept sectors, and said: "Judging from the market performance, the expectations of these two concept sectors have indeed not been fulfilled. The intensity of financial speculation and the market's emotional response are not bad either. There are some obvious differences with the trend of other conceptual sectors in the main line of 'technological growth'."

"I heard from the boss that you are optimistic about it?" Zhou Kan said, "Then I will ask everyone to wait before reducing their positions."

Xu Xiang shook his head gently and said: "Don't get me wrong, I have no bullish intentions. It is true that the current trends of these two concept sectors are not bad, and there are still expectations for the future. However, these two concept sectors are highly hyped. Logically, we should still follow the line of 'technological growth'."

"In other words, when the expected logic of the main line of 'technological growth' is overshadowed by heavyweight stocks such as 'LeTV', 'Huayi Brothers', and 'Netspeed Technology', as well as 'Film and Television Media' and 'Domestic Software' , 'Smartphone Industry Chain' and other important conceptual sectors will definitely restrict the expectations and sentiments of the two conceptual sectors of 'Internet Finance' and 'E-Commerce'."

"in other words……"

"The strong sector in the weak main line will not be much stronger even if it is strong."

"When the logic of the entire 'technological growth' main line continues to collapse, and future expectations are gradually decreasing, and the active financial groups in the entire market are gradually moving away from individual stocks in the main line field of 'technological growth', even if the 'Internet The two conceptual sectors of finance and e-commerce still have certain expectations in the future timeline, so it is difficult to break away from the logic of big expectations of the entire 'technological growth' and get out of the independent market."

"Instead of sticking to the strong sectors in the weak main line, it is better to move funds to the strong main line that has been determined by the market, follow the direction of the gathering and pursuit of active capital groups in the market, and follow the strongest trend."

"According to my judgment..."

"The two conceptual sectors of 'Internet Finance' and 'E-commerce', with the support of certain future expectations, do not follow the decline of other main concept sectors of 'Technology Growth', but the corresponding market liquidity will definitely still rise. It is getting tighter and it is impossible to get out of the independent market. It would be good to maintain a strong sideways trend at best.”

"In short, since we have come to the financial trading market, the most fundamental purpose is to make money."

“If you want to make money, you cannot go against the original trend of the market and do counter-trend things and corresponding trading operations.”

"Got it!" Zhou Kan was moved after hearing Xu Xiang's insights, and immediately ordered the traders in the trading room to continue to reduce their positions in stocks in the fields of 'Internet finance' and 'e-commerce'.

And as his order was issued.

When the entire "Zexi Clan" sold off stocks in the main line of "technological growth".

In terms of market performance, the market performance of the main line of 'technological growth' and the two main lines of 'infrastructure' and 'military industry' has become more and more differentiated, and the growth gap between the Shanghai Stock Exchange Index and the ChiNext Index has further increased over time. With the expansion of the market, the entire active capital group in the market is further converging on the fields of "infrastructure" and "military industry" for risk hedging.

Even, when the market trading hours, enter after 11 o'clock in the morning.

The growth gap between the Shanghai Stock Exchange Index and the ChiNext Index once widened to 2%.

In this extreme trend change, for a number of core hot stocks and core component stocks in the main line of 'technology growth', the market selling has not weakened, but has continued to increase, with funds actively selling and frantically stopping losses and fleeing. , is getting more and more serious.

Among them, there is another major organization also located in the Magic City.

Within the Yinghui Fund Company, the two fund managers of the 'Yinghui No. 1' fund product and the 'Yinghui No. 2' fund product had gloomy expressions on their faces at the moment, constantly instructing the traders to make quick changes regardless of the cost. warehouse.

Especially Shao Xiaoyun, the fund manager of the 'Yinghui No. 2' fund product. He looked at the extreme changes in the market and saw that the three stocks in the fund he was in charge of had all fallen to the limit. He could not sell even one share, so he could only I had no choice but to bear the sharp drop in the fund's net value, and my inner anger was about to explode.

Originally, a week ago, his main position was still on the main line of "big infrastructure".

As a result, due to the news signals released by the offline investment strategy in Shanghai and the market news from his so-called acquaintance, Mr. Yifangda, he couldn't bear the continued riots in the 'technological growth' line. At a relatively high level, The fund's main holdings were all converted into a holding structure with "LeTV, Huayi Brothers, Crystal Optoelectronics, and Internet Speed ​​Technology" as the core. As a result, he was not able to eat anything, but also suffered several sap attacks in a row, and was short-term. The surge in prices due to the restart of 'big infrastructure'.

"What the hell..."

Shao Xiaoyun gritted his teeth, but couldn't help but cursed in the trading room: "What a bullshit Mr. Gao, it's really harmful to people. It makes me unable to move forward or retreat, and the losses are so heavy."

Seniors in the industry have warned him more than once before, telling him to stay away from so-called inside information.

He didn't take it seriously before, but this time... it finally taught him a profound lesson. The increase in the fund's net value that he had worked hard to accumulate for several months was instantly wiped out.

"Manager Shao, complaining now will not help." Amidst Shao Xiaoyun's scolding, Liu Changling, the trading team leader, sighed softly and said, "We can only find ways to adjust and change the trading strategy to prevent it from happening. The losses incurred further expanded.”

Shao Xiaoyun gritted his teeth, forced down the anger in his heart, and said: "I also know that it won't help. Tell me...what else can we do now?"

Liu Changling thought for a while and responded: "Let's clear out all the 'Technology Growth' position chips that can be reduced. At this moment, all the conceptual hot spots related to 'Technology Growth' and the corresponding theme sections have been lost. In addition, after the weak rebound in early trading, the market's bottom-buying funds have also been buried. This means that there will be no large-scale active capital groups in the follow-up today. We have rushed into the main line of 'technological growth' and carried out corresponding undertakings."

"And this also means that in the line of 'technological growth', major themes and conceptual hotspots will be included."

"The subsequent trend will only become more and more tragic as the funds received are getting weaker and the selling is getting stronger. We can't wait any longer, nor should we consider anything at this time. Due to the cost of reducing positions, more opportunities to reduce positions, clear positions and stop losses are missed.”

"If we had been decisive..."

"Before Crystal Optoelectronics and Huayi Brothers fell to the limit, we were able to reduce a lot of positions on a large scale, but now it is too late. We can only take the initiative to kill the decline at all costs and reduce our holdings in other 'technological growth' stocks that have not yet fallen to the limit. Concept stocks, those seeking net worth will lose less.”

“At the same time, after funds withdraw from the line of ‘technological growth’.”

"We must decisively add our positions back to the 'infrastructure' and 'military industry' fields that have formed a trend upward and are unanimously expected, and we cannot miss any more market opportunities."

After listening to Liu Changling's analysis and strategic suggestions, Shao Xiaoyun, although he did not object, still hesitated a little and said: "I don't object to clearing the positions in the 'Technology Growth' line, but at this time, the funds that will be cleared and withdrawn will be pursued at a high level. Isn't the core bargaining chip in the main line areas of 'infrastructure' and 'military industry' a bit too radical?"

After being repeatedly slapped in the face by the market, he is now somewhat more than willing to pursue high prices.