Rebirth of the investment era

"Hey..." Shao Xiaoyun sighed softly and said, "With such a trend, the Shanghai Stock Exchange Index may really go back to the 3,000-point position."

Liu Changling thought for a while and said: "Initially, it seems unavoidable. However, as long as the gap when the Shanghai Stock Index jumped above 3,000 points is not filled, the volume will be able to weaken tomorrow and form a continuous decline and shrinkage pattern. Then Overall, the market can still maintain a strong state.

The main selling force today is still the suppression of profit taking and unwinding of arbitrage.

There should not be many other panic selling of chips.

In other words, the market's "bull market" pattern has not changed. As long as this basic investment logic remains unchanged, then even if we miss a better intraday position to reduce our positions today, it will not be a big problem.

As long as the "bull market" pattern exists, then the index falls and touches the support level.

At the same time, if the excessive accumulation of profit-taking and arbitrage orders on the market is cleared on a large scale, or after the position adjustment is completed, the index should still gradually rebound and quickly regain its lost ground. "

"I hope!" Shao Xiaoyun nodded and said, "I'm afraid that the macro-investment logic of the two main lines of 'infrastructure' and 'military industry' will collapse, which will completely collapse the market. After all, the current investment in these two main lines is dominated by The position of many industry sectors and concept sectors is really not low after they have been rising for several consecutive months, and these fields also have a great impact on the weight of the index.

There is also the fact that although the Shanghai Stock Exchange Index has exceeded 3,000 points, the upward space has not been completely opened.

The logic of the 'bull market' exists, but its logic has not yet penetrated into the hearts of all investors in the entire market. For now, there are still many investor groups and major institutional groups within and outside the entire market who have a 'comprehensive view' of the market. The Bulls' attitude is markedly skeptical. "

Liu Changling nodded slightly and responded: "In the early days of the bull market, the market was constantly hesitating and doubting, increasing expectations step by step, and gradually forming consistency. At this time, the market was divided, and everyone had doubts. I think It's all a normal thing.

The key lies in the subsequent changes in macro news after the market's plunge today.

and changes in quantity and energy.

If everything is still changing in a positive direction, then we should stick to the expected judgment of a "comprehensive bull market", and we should also stick to the lock-in strategy and bite the low-price chips we obtained at a relatively bottom position on a large scale. "

After saying that, Liu Changling turned his attention back to the two markets.

At this time, the market trading time has reached 3 o'clock in the afternoon, and the two markets have ushered in the closing.

With the rapid changes in the two markets, the Shanghai Stock Index finally closed with a 57% drop, almost closing at the lowest point of the day, fixed at 88 points, with a daily drop of more than 120 points; the Shenzhen Stock Index, The ChiNext Index all closed near a 20% decline, also almost closing at the lowest point of the day.

The two cities traded a total of 9.9 billion throughout the day, setting a new high.

At the same time, this amount of energy is basically the same as the record high level of transaction volume in 2007 when the Shanghai Stock Exchange Index was around 6,000 points. It can be described as a huge amount.

In addition to the major core indexes in the market that plummeted across the board.

A number of core main lines of the two cities, as well as the performance of core concept sectors, leading stocks, and weighted stocks.

I saw that among all the industry sectors and concept sectors, only the 'sub-new stocks' sector closed in the red, with the sub-new stocks sector index closing up 76%, and within the sector, except for newly listed new stocks that have not opened a one-word daily limit, In recent times, a total of 26 new stocks have closed in the red.

Of course, in this sector, there are also many sub-new stocks that have fallen below the limit.

Among them, the check of ‘Blue Stone Heavy Equipment’, which once hit 25 consecutive intraday prices, also closed at the limit today, with a turnover rate of 47%, which also hit a new low in recent adjustments.

And the check of ‘Huake Dawn’ has attracted much attention.

The daily limit was still sealed, and there was no increase in volume despite the market's collapse throughout the day, forming a 12-continuous trend. It is also the stock that still maintains a continuous trend in the current market and has the largest number of consecutive boards.

Except for the ‘sub-new stocks’ sector.

Relatively resistant to decline, the sector index fell within 1% during the day, mainly in the 'banking', 'insurance', 'petrochemical' and 'coal' sectors.

The ‘banking’ and ‘insurance’ sectors are part of the main line of ‘big finance’.

This is another major position area where the ‘National Team’, the super main force in the field, has a large and heavy position.

Recently, the main line of 'big finance' has continued to be pursued by major financial groups in the market, coupled with the 'national team''s deliberate protection of the market conditions of the two cities, resulting in the extreme plummeting of these two major financial sectors today. Under the form, it is a tenacious resistance to the downward trend.

As for why the 'petrochemical' and 'coal' sectors are so resilient.

The main reason is that these two major industry sectors have undergone sufficient adjustments in the early stage and even in the past two years. Both the sector index and the corresponding component weight stocks are near historical lows, and the Shanghai Composite Index has been fully adjusted for two consecutive weeks. In the upward breakthrough trend, it did not rebound much.

Therefore, if it can be considered that there is no way to fall, it will naturally behave more resistant to the fall.

And unlike the trend pattern of the two major sectors of 'banking' and 'insurance', which were relatively heavy in volume, the 'petrochemical' and 'coal' sectors actually shrank in volume today amid the overall explosive decline in volume in the two cities. This is fully It means that these two major industry sectors have indeed exhausted their downward momentum. At the same time, whether there are core main financial groups focusing on them, it is indeed a state where there is nothing to fall and nothing to fall.

Following the ‘banking’, ‘insurance’, ‘petrochemical’ and ‘coal’ industry sectors.

Other industry sectors that clearly outperformed the market's major core indexes include 'pharmaceutical business', 'automobiles', 'household appliances', and 'food and beverages'.

The performance of these sectors and their relative resilience.

Basically similar to the ‘Petrochemicals’ and ‘Coal’ sectors.

That is these industry sectors. In this round, the Shanghai Stock Index has continuously squeezed and rebounded from around 2900 points to around 3300 points. The rebound has not increased much. The accumulated profits and the recent unwinding funds Not much, and the kinetic energy for selling and falling is not strong.

In addition to these relatively resilient industry sectors, as well as the main line areas.

Following the fluctuations of the index, the industry sectors that fell the same as the index during the day mainly included securities, Internet software, Internet applications, electronic information, animal husbandry, electric power equipment, mechanical equipment, public transportation, high-speed rail, basic communications, etc. Industry sectors.

Among them, the trading volume is relatively fierce, and the long and short prices are huge.

It belongs to the three major industry sectors of securities, Internet software and Internet applications.

In the securities sector, the daily turnover reached about 88 billion, which also set a new annual high volume and even a record high volume in the history of the sector. And the stock of 'Huaxin Securities' alone had a daily turnover of about 12.7 billion, occupying the entire Nearly one-seventh of the sector’s turnover.

Internet software and Internet applications are mainly dragged down by "domestic software" and "Internet finance".

The main intraday selling momentum obviously comes from these two conceptual sectors.

In other industry sectors with similar declines to the index, trading was relatively less intense, but the selling pressure on the market was still quite obvious.

As for significantly underperforming the market index during the day.

The industry sector that formed the main selling force during the day, the core main line, mainly comes from the 'film and television media, architectural decoration, building materials, commercial real estate development, national defense and military industry' sectors.

And almost all of these major industry sector indexes fell by more than 5%.

Among them, the film and television media and national defense and military industry sector indexes fell by nearly 5% during the day. The component stocks in the two major industry sectors have all set off a trend of falling by the limit.

However, although the intraday declines of the two major sector indexes are similar, the logic is completely different.

The 'film and television media' sector fell so sharply today and exploded with huge amounts, forming a trend of bottom-down trend. The main reason is that this sector has rebounded violently in the past two weeks without the support of sufficient positive expectations, accumulating a large amount of short-term gains. It is caused by profit taking and short-term unwinding of arbitrage.

And the ‘National Defense Industry’ sector.

It was mainly affected by the check of 'Chengfei Integration'. The essential reason for its explosive volume and decline was also due to the failure of the reorganization of 'Chengfei Integration', which brought a group of investors gathered in this main line field. For' The reason for the re-examination of the hype logic and the re-evaluation of expectations of the "military asset restructuring" and "military industry enterprise asset securitization path" is that the essential investment logic has been questioned and challenged, not the suppression of short-term profit taking and arbitrage.

After all, compare to the entire market.

The two main lines of 'infrastructure' and 'military industry' have been adjusted for a long time, and in the past two weeks, there has been basically no positive market feedback, and there has been no short-term profit taking or arbitrage. accumulation.

In addition to the two major industry sectors that led the decline, "Film and Television Media" and "National Defense Industry".

Other main decline sectors were mainly due to changes in expectations of the core macro policy direction of "reform and reorganization of central and state-owned enterprises".

In general, today's market has experienced a sharp decline.

The main reason is the concentrated exodus of short-term profits and unwinding of arbitrage, and the secondary reason is the loosening of the main logic of the concept of "reform and reorganization of central and state-owned enterprises" triggered by the straw of "Chengfei Integration", which has led to the related core main financial groups. Caused by concentrated risk aversion and position adjustment.

But no matter what the reason is, today's market has plummeted in a downward trend.

Under this trend form.

Faced with this closing situation, the vast number of investors inside and outside the market have loosened their originally firm belief in the 'bull market' and their long-term beliefs.

After all, there are several major indexes, major popular core lines, industry sectors, and concept sectors.

Even a number of popular leading stocks and heavyweight stocks.

Almost all of them closed near the lowest position during the day, tragically killing all the selling funds received during the day.

And this means that today's market has basically no money-making effect.

As long as there are investors in the market and holding positions, very few people can avoid losses.

"Damn it, it's so tragic."

Amidst the frozen greenery, the vast retail investors gathered in the discussion area of ​​the trading platform and major online stock investment discussion platforms were all greatly shocked.

"Today's decline can rank among the top three this year, right?"

"To be precise, second!"

"I really didn't expect that the market would plummet like this today. Where is the bull market that was promised? The trend of the bull market...is this?"

"Hey, I'm afraid the word 'bull market' has to be a question mark, right?"

"Nearly a week's increase was wiped out in one day. It's really amazing..."

"In the past two weeks, the new novice investors who have poured in must have been taught a lesson by the main funds today, right?"

"Let me just say...it's not that easy to make money in my big A."

"It's a good short squeeze, but it was really cut off today! It feels like the Shanghai Index will definitely go to 3,000 points to confirm the support in the future."

"Look at this situation, can it hold up to 3,000 points?"

"With today's plummeting trend, I'm afraid it will reach 3,000 points tomorrow."

"The market is not going to end like this, is it? Damn it... I was only full yesterday, am I standing on the top of the mountain again?"

"Year after year, it's the same year after year. I feel like this wave is just a different person standing guard. The 'bull market'... I'm afraid it's still far away!"

"Hey, I originally thought that after the Shanghai Stock Index broke through 3,000 points, there should be a big market. Now it seems... I am still too optimistic. The Shanghai Stock Index cannot break through 3,500 points. It seems that it will never really open up space."

"Actually, the most terrifying thing today is energy. 760 billion energy is really terrifying."

"No, this amount of energy is too difficult to repair..."

"You still can't form a pattern. Once you form a pattern, you'll stand guard."

"Today's huge amount of energy is unlikely to be all thrown away by retail investors. Many major institutional groups must have fled."

"Whether the main funds have escaped or not, you should be able to tell if you are on the Dragon and Tiger list."

"In fact, in the early trading today, 'Big Finance' was still very resistant to the decline, and even went up for a while. I don't know why it collapsed in the late trading."

"It's very simple. If the logic of the 'bull market' is no longer there, then there must be something wrong with the expected logic of 'big finance'!"

"Hey... the key is the position of 'securities'. It is not low now. I wonder if it will become the main force to kill the decline in the subsequent market adjustment period."

"As long as Mr. Su's 'Yuhang Department' funds have not been released, the problem in the 'Securities' sector shouldn't be serious, right?"

“It’s hard to guarantee that Mr. Su’s ‘Yu Hang Department’ can continue to lock up positions!”

"There are also lines such as 'infrastructure', 'military industry', and 'film and television media'... These lines are really miserable today."

"It feels like the current 'infrastructure' and 'military industry' sectors are the main lines of 'Internet finance' and 'smartphone industry chain' at the end of last year, right? There are expectations, but there are too many overdrafts. Once the follow-up news is not as good as expected, it will stop No major funds can sustain the unstoppable plunge."

"The line of 'Film and Television Media' is really good... I originally thought that 'LeTV' could turn around, but unexpectedly... it fell to the limit today, directly bringing down the entire 'Film and Television Media' sector."

"Hey, stop talking. The trend of all the major lines today is quite ugly."

"Damn it, you just added in the financing and you've made a huge loss. Hey...it looks like you'll have to cut your flesh tomorrow!"

"I'm afraid the index will definitely drop lower tomorrow, right?"

"With this kind of trend, there is no huge substantive benefit in the evening. The index will definitely open sharply lower tomorrow. There is no need to say that. After all, today is the limit of 100 stocks. The closing of 131 stocks in the two cities hit the limit. You can imagine... Today's The market’s dragon and tiger rankings are probably very explosive.”

"At least forty or fifty stocks must be on the Dragon and Tiger list."

"Flush also hit its limit today. The trend of this check in the past two weeks has been really fierce. It's either rising or falling. It's really extreme."

"I was cheated today. I hope the regulators will continue to release benefits tonight!"

"I don't know who hit it. It's so hard even if it's not really bad."

"Actually, what is disgusting is the funds that smashed the market in the afternoon. Originally, there was a period of time at the beginning of the afternoon. If the market worked together, it could pull up and achieve a deep V reversal trend."

In the midst of heated discussions, sighs and disappointment among tens of millions or hundreds of millions of retail investors.

The time unknowingly has entered around 5:30 pm.

Under the spotlight, the Dragon and Tiger Lists of the two cities were refreshed, with a total of 51 stocks on the list, and most of the stocks on the list landed on the Dragon and Tiger List in the form of a price limit.

Among them, popular leading stocks, Western Securities, Flush, Bluestone Heavy Equipment, China Airlines Heavy Machinery... are all on the list.

And when countless investors focus on these popular stocks, as well as the trading seats disclosed by many core weight stocks that are extremely traded today.

But they were obviously startled again, and they all let out a surprised sound, and they were all a little surprised.