Rebirth of the investment era

In the early stages of a bull market, the market always moves forward with determination and hesitation, and continues to fluctuate.

Su Yu knows that any change or interpretation of the market cannot be achieved overnight, and the changes in the index cannot be linear. Regardless of the bull market or the bear market, there will be rises and falls, and often in the bull market, the rapid correction will catch people off guard. The sharp decline accounted for the majority.

The extreme bullish emotional climax cannot last for long.

When the market news calms down and the stock prices of the core stocks on the main lines of the market have reached a high level during the early bullish sentiment climax, then the market trend differentiation will be inevitable.

In fact, there is nothing to be afraid of when market trends diverge.

As long as the basic investment logic of the stocks you hold has not changed and future expectations are still increasing, you should hold them firmly and wait for the flowers to bloom.

"The subsequent market trend should slow down significantly." While Su Yu was deep in thought, Li Meng stared at the market for a while and said, "At the same time, the active capital groups in the market should also further move towards the big market." The convergence of the main areas of finance has made the market trends more and more layered."

"As the profit-taking selling pressure and the historical hold-up selling pressure accumulated in the early stage are getting bigger and stronger, the chip structure of the main lines of the market should need to be adjusted again and again." Zhang Guobing thought for a while, He also added, "There is a high probability that the market will still revolve around the main line of 'big finance' and replicate the upward trend of shocks in the quarter from June to September."

"The main reason is the current market. In addition to the core line of 'big finance', other main line areas, the underlying investment logic and future expectations are obviously far behind, and cannot form a sustainable development like the main line of 'big finance'." A strong breakthrough in the market trend." Zhu Tianyang said, "There are also too many upper-level hold-up orders that have been accumulated in the previous period. Even if the market's 'bull market expectations' are increasing, we still need to continue to digest this part of the hold-up orders. Only when the overall chip structure of the market is completely transformed can a sustained and strong breakthrough be achieved."

"Well, the Shanghai Index has not touched the range of 3000 to 3500 points in the past few years. The hold-up market is indeed extremely heavy." Liu Yuan nodded and responded, "The index is within this range, and the market is long and short. It’s normal for the power to be divided.”

"Whatever, as long as there are no problems with the investment logic of the core main line of 'big finance', then it's over, right?" Wang Can chuckled, "The current market turnover is generally at the 600 billion mark. The market's balance of financing and financing is approaching trillions, and at the same time, the 'bull market expectations' are also increasing. In any case... the performance of the market in the two months at the end of the year will not be worse than before."

"That's true." Zhao Lijun said, "With the support of such strong volume, the market will not be bad at all. And it can be seen from the market. Although there are many long and short differences on the market of many stocks, the selling force continues. Strengthening, but the strength of the bulls taking over, the capital groups taking the initiative, and the incremental capital groups newly entering the market are also continuing to strengthen and increase."

"The difference between long and short is actually a driving force for the upward development of the market." Zhang Guobing thought for a while and then said, "The birth and continuation of market conditions are originally based on the constant suspicion and affirmation of funds. The real Consistency of expectations does not last long.”

When Su Yu heard Zhang Guobing's words, he nodded slightly, appreciatively, and said with a smile: "The market situation is always born in times of despair, always moves in doubts, always accelerates when emotions are consistent, and always speeds up when emotions are consistent. The peak ends at a time of madness. The current market is divided between long and short, and the index fluctuates and rises amid doubts. There are many sellers and many buyers... This just illustrates the performance stage of the current market conditions. It is just in the early stage of the bull market. It is far away. It’s not time to worry yet.”

In the discussion room...

The market trading time has passed 11 o'clock in the morning unknowingly.

When the two cities entered the last half-hour trading period before the midday closing, the market patterns of the two cities became more and more layered.

First of all, the indices of the securities sector and the Internet finance sector, two core popular sectors, are slowly raising their center of gravity amid continued fluctuations, slowly setting new intraday highs. At the same time, the core component stocks within their sectors, The power of bulls in concept stocks is also significantly stronger than the power of short sellers.

Then, the core sector in the main line of 'Technology Growth', the 'Film and Television Media' sector, can still maintain a relatively strong state and fluctuate at the intraday high. Although the sector index can no longer continue to rise and open new intraday heights, the sector Component stocks in the field, and many concept stocks, are still continuing to perform, with rising trends one after another.

Finally, the rest of the non-core mainline areas.

During this period of time, it has continued to fluctuate and gradually declined and corrected.

Among them, the main lines of 'infrastructure' and 'military industry' have been weaker than other core main lines of the market, significantly underperforming the broader market index, and the relevant major industry sector indexes have also corrected one after another and fallen underwater, especially In its field, the leading concept stock of the two cities that has attracted great market attention, 'Blue Stone Reload', has fallen into a 3-point underwater drop position after failing to open up room for continued growth at the beginning of the session.

As for the index...

The Shanghai Stock Exchange Index continues to fluctuate around today's opening point and gain position; the Shenzhen Stock Exchange Index and ChiNext Index fluctuated and fell back, and have returned to near the flat position; the small and medium-sized indexes have fallen slightly underwater amid the same shock and fall. , without any strong momentum; the A50 index gradually fluctuated and rose following the trends of the securities sector, insurance sector, and banking sector, and continued to refresh the intraday high. The increase ranked first among the major indexes, rising more than 1% range.

"The market is differentiated, and the market volume is strong. At this time, compared with yesterday, there is no trace of continued expansion."

Noting that the main lines of the market are becoming increasingly hierarchical, and whether it is the performance of individual stocks or indexes, they have shown obvious differentiation. At this moment, the main hot money group in Yuhang where Su Yu is located is discussing the market. Among the big hot money investors, some people lamented.

"After the index broke through the key mark of 3,000 points, the fanatical market sentiment of concentrated bullishness must not be maintained forever. It is normal for the index and the main market trend to gradually diverge. I think...it is not surprising, and there is no need to Too worried.”

"Yes, let's not talk about this index point stage. The market is already heavily locked up. Just say that the market has surged for so many days and the short-term profit-making sell-off will inevitably lead to market differentiation."

"Hey, at this position, I can differentiate and digest a wave of chips and consolidate the overall chip structure of the index near 3,000 points. I don't think there is anything wrong with it. As long as the index remains above 3,000 points and continues to fluctuate, it can still Gradually creating new point heights upwards, then the market's 'bull market' pattern will not change, and there is nothing to worry about. Just continue to make orders around the core main line."

"It feels like we have returned to the familiar rhythm of 'infrastructure' and 'military industry' gradually pulling up the market, and other main lines diverging and oscillating, but this time... the core main line driving the market has changed from the previous main lines of 'infrastructure' and 'military industry' , it just became the main line of 'big finance'."

"Well, that's true..."

"Although the overall market situation is a bit differentiated, the main line of 'big finance', whether it is the strong securities and Internet sectors, or the relatively weak banking and insurance sectors, the overall long position is still very strong. In fact, the signs of differentiation are It’s not that obvious.”

"The performance of the core main line is definitely different from that of the non-core main line."

"Hey, at this time, you can really see that those stocks are the core leaders, and those stocks are false leaders."

"This is the best time to distinguish between strong stocks and weak stocks."

"I agree, that's the truth."

"I feel that even if the index enters a state of differentiation and shock, based on the market's still strong carrying power and the market volume that has not expanded but has not declined much, I estimate that the index will probably not easily go back to the 3,000 point level. If there is a support line, it is even less likely to cover the gap last week."

"The gap below 3,000 points is the most important support for the 'bull market' pattern. This gap obviously cannot be filled. Once it is filled, the overall market structure will change."

"It's impossible to close that gap, right?"

"Unless the main line of 'big finance', which has been rising sharply for several days since last week, falls back to its original point, it is impossible for the index to fill the gap below 3,000 points. However... the core of the main line of 'big finance' Investment logic, as well as fundamental logic, when the market volume can explode to this point, the balance of financing and financing is about to hit the scale of trillions, and when the central bank will continue to loosen money and implement monetary easing policies with a high probability, if it wants to fall again Basically, it is completely impossible to go back to the starting point, not to mention... In the past week, at least tens of billions of incremental funds have been added to the main line of 'big finance'. These incremental funds have made the entire 'big finance' The chip structure in the main financial field has undergone a complete transformation."

"The main line of 'Big Finance' has fallen back to its original point? Hehe... This is basically a fantasy."

"No, I don't know how many incremental capital groups there are currently. They want to have core chips in the main line of 'big finance'. How can they fall back?"

"In general, with the continuous fluctuation of the 'big financial' line supporting the market, it is impossible for the index to go back to 3,000 points and cover the gap below 3,000 points."

"There is naturally no problem with the core main line of 'big finance', but the two popular main lines of 'infrastructure' and 'military industry' are very likely to continue to correct, which will drag down the index."

"The two main sectors of infrastructure and military industry should not fall too deep, right?"

"I also think that these two major sectors will not fall deeply. After all, the macroeconomic strategic plan of 'New Era Road, Maritime Silk Road' and the good news are still increasing, not to mention the 'reform and reorganization of state-owned enterprises and central enterprises'" ' and the concepts of major 'free trade zones' are good blessings, but the current internal chip structure of the two main lines of 'infrastructure' and 'military industry' has been scattered, and they need to be regrouped and regain their popularity. And looking at the market performance... this The intensity of funding in the two main areas has always been strong.”

"The two main lines of infrastructure and military industry have only seen their stock prices rise in the short term. As long as the fundamental expectations remain unchanged and the benefits of the macroeconomic strategic planning of the 'New Era Road and Maritime Silk Road' are still increasing, I think this will The market conditions of the two main sectors will have to take a turn sooner or later.”

"In general, the Shanghai Stock Exchange Index has broken through the 3,000-point limit, and the market will never be worse than before."

"The market volume of 600 billion can support it. Even if the market trend diverges and the profit-making effect becomes worse than in the past few days, it will not be much worse."

"You can still make money easily by continuing to rely on the main line of 'big finance' to make trading."

"Yes, continue to work in the securities and Internet finance sectors."

"Looking at the check of 'Huaxin Securities', I feel that as long as 'Huaxin Securities', a super-weighted stock, can continue to rise to its intraday heights and continue to hit new highs in stock prices, then we can continue to aggressively place orders. "

"Depending on the situation, the volume of today's 'Huaxin Securities' check will not be less than 7 billion."

"Generally speaking, in the entire main line of 'big finance', except for a few stocks that have been directly hit by other negative factors, there is no need to worry about other stocks."

"Not only 'Huaxin Securities', but also 'Western Securities' has been at the height of 6 consecutive boards. It has been continuously oscillating around the intraday high today, and there is no chance of entry at a relatively low level for adjustment. Although this check today It is no longer possible to close the market, but the strong performance of the stock price remains unchanged. It is expected that this check will continue to rise sharply in the future and open up new heights."

"However, in the past two trading days, the 'technological growth' line, which once showed a continuous breakthrough trend, is indeed going through some problems today. The major core sectors in its field and the main capital flows are basically showing outflows. , and for many core stocks, the active funding force on the market is no longer able to suppress selling orders."

“The trend pattern of the ‘Technology Growth’ line is obviously still far behind the ‘Big Finance’ line.”

"They are not at the same level. Judging from the overall market situation, the core main financial groups are still targeting the main board, especially the heavyweight stocks in the main direction of 'Big Finance', and the 'Technology Growth' line. It is true that some financial groups are paying attention to the line, but it is not the most core hot spot in the market performance."

"The line of 'technological growth' probably has no real breakthrough, right?"

"Obviously not!"

“I feel that the line of ‘technological growth’ will have to be stepped back and adjusted in the future.”

"It is safer to pursue the line of 'technological growth' than to follow the trend and continue to do the line of 'big finance.'"

"In fact, it is easier to make money by following the core main line of Mr. Su's positions and doing the sectors and stocks with the strongest market consensus expectations."

Messages in the group were refreshing rapidly, and major hot money investors expressed their opinions on the market situation.

At the same time, everyone was eliminating the weak and retaining the strong, focusing further on the main line area of ​​​​the market's "big finance". They were further adjusting their positions to pursue leading stocks that could still perform strongly and set new intraday highs step by step.

Market trading hours arrive at 11:30.

The two cities ushered in the midday closing time.

I saw that after half a day of fluctuations, the Shanghai Stock Index was still not significantly different from the point when it opened at 9:25 in the morning. However, the Shenzhen Stock Exchange Index, ChiNext Index, and Small and Medium-sized Enterprises Index had fallen back a certain amount compared to when they opened in the morning. The range basically closed at a flat price, or in a slightly downward trend.

Only the A50 index has continued to perform strongly in the ‘big financial’ sector.

It closed at a gain of 05%, still leading all important core indexes in the two cities.

As for the market performance of the main core main lines, the 'Big Finance' main line is unparalleled, especially the securities sector and the Internet financial sector index, both still rose by more than 2%, leading the industry sectors and concept sectors of the two cities. Others, compared The intraday heights hit at the beginning of the session have all fallen back.

Among them, market investors are paying close attention to the core leading stocks.

'Bluestone Heavy Equipment' closed down 48% at midday, with a half-day turnover rate of 45%, clearly showing its weak pattern; 'Western Securities' surged 35%, still fluctuating at intraday highs, with a half-day turnover of 8.7 billion; 'Flush' surged 11%, with a half-day turnover rate of 43%. The rest of the popular leading stocks, 'Hengsheng Electronics, Jinzheng Shares, Oriental Fortune, Oriental Securities, Huazhong Capital...', all had intraday gains of 4 % and above, it can be said that they have maintained a strong state and continued to significantly outperform the market index.

Such a midday closing situation...

As a result, the extremely hot bullish sentiment among market investors in chasing high prices has declined.

However, there has been no change in the positive entry attitude of the main financial groups outside the market, as well as the active attitude of the major core institutional groups in the market to increase and adjust their positions, and countless institutional analysts and financial influencers outside the market have not changed. , financial media commentators, well-known stock analysts... these groups, during the lunch break, were still mindlessly bullish on the market and sang "bull market" in their speeches on the market review.