Rebirth of the investment era

"That's right!" Shao Xiaoyun was also puzzled for a while, "There is nothing negative about the market news!"

Liu Changling pondered for a while and continued: "Maybe the current expectations of the investor groups inside and outside the market are too high. At this time, since everyone thinks that the market is already in a comprehensive 'bull market' state, then if there is no benefit, it means that it is a bull market." If it is negative, the market index cannot open higher and move higher, which is equivalent to weakness.

Also, everyone may still have some doubts about the sharp market drop the day before.

Once the index is blocked at 3300 points, and there is no deterministic major positive support in terms of macro news, everyone will inevitably have wild thoughts.

There is a shadow of yesterday's plunge.

Today's market is below 3300 points, and it is easy to understand that it opened flat and then fell, and the power of the bulls has declined.

Hey, it seems that the index may still have to go back to the plunge low two days ago, and then determine the support position for the correction. Our increase in positions yesterday... seems to be a bit too hasty. "

"Has a new shock platform formed between 3200 and 3300?" After hearing Liu Changling's analysis, Shao Xiaoyun roughly understood what he meant and asked with a frown.

Liu Changling thought for a moment and nodded slightly: "It's very possible!"

"What the hell..." Shao Xiaoyun couldn't help but cursed, "The trend pattern of the index is really bad!"

Their fund has recently passively increased its positions twice, basically buying near 3300 points, which is near the two highest points of the index.

This caused them to be completely passive at the moment.

Therefore, when Shao Xiaoyun saw that the index was not advancing but retreating, and there was a high probability that it would continue to adjust, he couldn't help scolding his mother.

"Then...what should we do now?" After a few seconds of silence, Shao Xiaoyun continued, "Are we going to reduce our position again?"

Liu Changling thought for a while and responded: "I'm afraid it would be inappropriate to reduce positions to avoid the possible downward adjustment range. Since the overall market trend is still in the form of a 'bull market', and there are multiple positive factors that can be expected in the future. They are still there, so even if the index falls temporarily, it will rebound quickly like the trend of the past two days. Although we have not grasped the opportunity to continuously increase our positions.

However, we cannot be wrong about the overall position-increasing strategy.

After all, looking at the mid- to long-term goals in the future market, the stock chips we currently have are still very cost-effective, and there is a high probability that we can make money.

So, my advice is...

Since we missed the best point to reduce our positions before, and now the index has relatively corrected to the intraday low, we can only continue to hold the chips and wait for the market to clear out this part of the concentrated selling, and the continued incremental capital group will assist. Next, it rebounded again. "

"Hey..." After hearing Liu Changling's words, Shao Xiaoyun couldn't help but sigh again and said, "In a volatile situation, if you step on the wrong rhythm, it is indeed easy to be harvested by the market. In this case... then I will listen to you. , hold the chips first, endure the retracement, and see the subsequent trend of the market."

After saying that, Shao Xiaoyun turned his attention to the trading boards of the two cities again.

At this time, the market trading time had already advanced to about 9:50.

After 20 minutes of trading after the opening, the core main lines of 'big finance', 'big infrastructure', 'big consumption' and 'technological growth' were completely stalled and pulled back.

The Shanghai Stock Exchange Index has fallen below the 1% mark and reached a 17% decline.

At the same time, the index point has also fallen back to around 3240 points, completely falling below the 3250 points that is the psychological barrier for bull investors.

However, the good news is...

When the index fell rapidly and fell back, the volume performance of the two markets was obviously smaller than yesterday.

Although the trend on the time-sharing chart is somewhat similar to the unilateral plunge two days ago, the volume and energy performance are obviously different.

This shows that the market at this moment is focused on selling volume.

Although it can still suppress the amount of long funds received, compared with the previous two days, it has been significantly weakened.

This also shows in disguise that in this range of the index, a large part of the free selling energy has indeed been cleared and washed away in the early stage.

Of course, as a group of novice retail investors who have newly entered the market in the past month or even half a month.

It cannot be analyzed to this point.

There are also countless large groups of retail investors who have limited knowledge of the market and are unable to realize this step.

Therefore, when the major market indexes are obviously shrinking and falling, these retail investors are still following the trend and selling based on the psychological effect of panic.

"The amount of time-sharing energy is gradually declining."

Different from these retail investor groups with limited knowledge, as professional investors in the market, among the institutional investment groups at this moment, many major financial institutions have clearly discovered this change in the market. Among them, Yuhang, 'Jing' Inside Da Investment's company, in the main fund trading room, Lin Tingzong, the fund manager of the company's main fund products, had bright eyes and said with a smile: "At this time, the capacity begins to decline. If I expected it to be good... this morning's wave today The sell-off should just be a short-spur."

"Yukong?" Next to Lin Tingzong, the company's general manager Gu Chijiang was slightly surprised.

Lin Tingzong nodded and continued: "Otherwise, it would make no sense that the stronger the index is, the more the capacity is shrinking. This can only show that the core main financial groups in the market, especially those who hold a number of popular weight stocks, have main line weight components. The super main financial institutions of stocks have not sold off on a large scale at all.

From the perspective of energy changes...

The ones who concentrated on buying and selling this morning were still the short-term profit-taking funds deposited in the market, as well as the arbitrage-unwinding funds that had recently solved their arbitrage.

Of course, there are also some speculative capital groups who adjust positions and exchange shares.

After all, according to the market trend in early trading, concept stocks of small and medium-cap sizes are obviously stronger than heavy-weight large-cap stocks.

Historically, concept stocks of small and medium-sized caps have been the areas where hot money from large investors in the market has concentrated on speculation.

Since the super main financial groups in the market are still basically in a locked-up state, then the index... naturally cannot fall much deeper under the profit-taking and arbitrage selling that has been cleaned up and laundered. "

"Well, the changes in volume and energy are indeed significantly different from the sharp drop in the previous two days, and compared within the same time period." After hearing Lin Tingzong's analysis, Gu Chijiang stared at the two markets and carefully observed them for a while before continuing to reply. He said, "It seems...it does seem like he has lured Kong into washing the dishes."

"After 10 o'clock, the time-sharing volume can hit the bottom, and the index should rebound quickly." Lin Tingzong continued to observe the market for a while and said, "Mr. Gu, this should be a good buying point."

Gu Chijiang chuckled and said, "It's a pity that our fund holdings have reached the highest position."

"You can take this opportunity to further adjust the position structure." Lin Tingzong continued with bright eyes, "November 17 is the official opening day of the Shanghai-Hong Kong Stock Connect. This date is already very close now. If If there are no accidents, the market should change before this happens.

According to the market trends in the past few days...

This expected direction of change can only be upward.

While the index has fully crossed the 3,300-point mark upwards, it still cannot lack the driving force of the core main line of 'big finance'. "

When Gu Chijiang heard this, he smiled and said: "Tingzong, do you want to continue to increase the weight of our fund in the direction of 'big finance'?"

Lin Tingzong nodded and continued: "To be precise, it is to increase the weight of our positions in the two major sectors of 'Securities' and 'Internet Finance', and fully eliminate our holdings in the banking and insurance sectors."

"If we adjust our positions in this way, our positions will be too concentrated." Gu Chijiang said, "The risk of holding positions will become very high."

Lin Tingzong said: "By doing this, although the risk of holding positions will increase, the flexibility of the fund's net value will also increase significantly. In my opinion, the two major sectors of 'securities' and 'Internet finance' will be more predictable than before." Under the influence of many subsequent positive developments, they are definitely the two most core market sectors at the end of the year.

The basic logic of benchmarking the ‘bull market’.

Compare the average valuations of ‘security’ stocks during the last bull market.

At this stage, although the "Securities" sector has already risen a lot, leading stocks like "Western Securities and Oriental Securities" have also doubled their prices from the bottom.

However, its follow-up expected space is still huge!

At this time, further concentrated holdings, compared with the huge risks that may exist with a small probability, and the huge profits with a greater probability are obviously more worthy of the game.

And the ‘Internet Finance’ sector.

The hype logic of both 'mobile Internet' and 'big finance' is the main line. Although it has risen a lot, it is still the core sector with the highest market elasticity and the highest degree of capital concentration. I don't know the core component stocks within this sector. What is the reasonable valuation of .

But I can clearly feel the position of this plate.

Especially for stocks like 'Flush, Oriental Fortune, Great Wisdom, Jinzheng Shares, Yinjie Technology, Hengsheng Electronics...', it is obvious that this position will not be the top range.

It feels like the major financial groups have much higher expectations for this sector than the ‘securities’ sector.

I think this is also the fundamental reason why Jiefang South Road dares to continue to increase its positions on a large scale at the high daily limit.

It is said that "a bear market focuses on quality, and a bull market focuses on momentum." Since we firmly believe that this is a bull market, we should be consistent in our words and deeds, follow the strongest main line of the market's main funds, to fully harvest market profits and expand the scope of our fund products. The net profit has laid the foundation for the development of our organization in one fell swoop. "

"Okay!" Gu Chijiang nodded, "Just do as you say."

The trading decision to further concentrate his positions in the securities sector and the Internet financial sector, after seeing the crazy trends of these two core sectors in recent times, although he was a little worried about continuing to increase his position in the core stocks of these two sectors at high levels. , but also obviously a little moved.

And after these few months of precise operation.

Today, the net worth of their institution's main funds has ranked among the top 50 in this year's private equity fund performance rankings.

Just try harder.

In the year-end net worth settlement, it ranked among the top 20 fund product performance rankings in the industry.

So, with the brilliant performance, their institution's subsequent asset management scale and new fund product issuance scale will definitely continue to take a big step forward.

When Lin Tingzong saw that Gu Chijiang agreed to his idea, he was still very happy. He immediately turned sideways with a smile and quickly ordered the trading team in the trading room to quickly sell off the stocks held in the banking and insurance fields, as well as those stocks that had been affected by the recent market trends. In terms of trend performance, stocks continue to be weaker than the Shanghai Stock Index.

Then use the funds from selling and reducing holdings.

At this relatively low intraday price, focus on buying a number of core stocks in the "securities" and "Internet finance" sectors that he mentioned just now and have been tested by the market recently.

Fortunately, whether it is the bank or the insurance sector, liquidity is very sufficient at the moment.

In addition, the scale of their fund products is not very large. This kind of partial position swap is not troublesome to implement, and it will not have much impact on the overall market situation.

But it’s as if the market has a spiritual power.

When Lin Tingzong finished issuing the trading order, each group of traders was just typing on the keyboard to sell off the banking and insurance stocks they held, as well as many weak "big financial" stocks.

The core weighted stocks in the major main line areas of 'big finance', 'big consumption', 'big infrastructure' and 'technological growth', which have been adjusting weakly since the beginning of the market, have begun to stop falling and rebound in an all-round way.

First, ‘Western Securities’ ushered in a wave of huge buying orders, and the intraday decline instantly narrowed.

Then, under the leadership of "Western Securities", many stocks in the securities sector followed the trend and rebounded, and the sector's time-sharing capacity also expanded simultaneously.

Then, when the ‘Securities’ sector changes.

The related ‘Internet finance’ sector has naturally rebounded rapidly.

Among them, 'Flush' surged in volume rapidly and quickly returned to the intraday high within a few minutes.

After that, ‘Oriental Fortune’ became popular from under the water, and ‘China Railway’ saw a series of super large orders of 10,000 main buyers.

And when the "China Railway" moved.

The corresponding "Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo MCC, China South Locomotive, China North Railway, Huaguo Baosteel..." This large number of "big infrastructure" with the prefix "Hua" The main line weight stocks also moved after hearing the news, and a large number of main buying funds broke out in a concentrated manner.

Driven by these stocks with Chinese prefixes.

Architectural decoration, building materials, steel, commercial real estate development, machinery and equipment, public transportation, non-automobile transportation...these corresponding industry sector indexes are also rising rapidly.

Immediately afterwards, several core concepts and themes such as ‘Eurasian Economic Belt’, ‘New Era Road, Maritime Silk Road’, and ‘Reform and Reorganization of Central and State-owned Enterprises’ also experienced explosive changes.

Subsequently, when the market trading time entered 10 o'clock sharp.

Under the influence of the sudden and extremely large group of main buyer funds.

The Shanghai Stock Exchange Index rose rapidly, recovering nearly 75% of its gains, and successfully reduced the intraday decline to less than 5%, completely ruining the "big plunge" expected by many pessimistic investor groups.

"This wave of buying volume just now is very huge. Has any super main force entered the market?"

At 10:02 a.m., Wang Can, who was in the trading room of the main internal fund of Yuhang and Yuhang Investment Company, with his eyes fixed on the market, and had been waiting for the opportunity to grab funds at the low point of the session, was suddenly surprised and said eagerly: "Old Zhao, you said earlier that you should buy some during the day, right now?"

"Yes, right now!" Zhao Lijun nodded.

Then, without saying much, he quickly issued corresponding buying orders to the members of the trading team behind him, leading everyone to use the accounts they operated to conduct low-trading operations on a small scale, and then conduct intraday trading.

When Wang Can heard Zhao Lijun's words, he couldn't help but smile. He tapped the keyboard with his fingers and used the remaining available funds in the account he operated to buy at the market price in the existing positions of Western Securities and Oriental Securities. Wealth, Flush' three stocks.

Then, when the funds in his hand poured onto the market.

The stock prices of the three stocks have already surged upward by about 3%. Among them, the "Flush" check has risen straight to a position close to the new high at the beginning of the day.

Moreover, we have witnessed an overall rebound in the core main lines of the market.

The major core stocks and heavyweight stocks that saw a unanimous decline at the beginning of the trading day all started to rise under the attack of huge buying orders that suddenly appeared from nowhere.

The mood of the bulls, both inside and outside the market, changed instantly.

The large number of retail investors who were hesitant before and felt that the market was likely to replicate the plummeting trend of the previous two days have also become radical again.

"Damn it, what happened just now? Why did the index jump straight up in an instant?"

At a time when the popular core threads of the market are once again rioting, and the amount of buying funds is rapidly expanding again, countless retail investors gathered in the discussion area of ​​the trading platform were dumbfounded at this moment, and were greatly shocked in their hearts. After the impact, they all showed shocked expressions.

"Is there a super main institution that violently increased its positions just now?"

"Yes, and it is an indiscriminate and violent increase in positions. Many core weight stocks have just moved simultaneously. It is too exaggerated."

"Such a large-scale synchronous movement feels like a program list."

"It should be the main players from large state-owned institutions entering the market."

"No matter what the background of the funds that just pulled the deal, this courage... is really powerful."

"I don't know if you have noticed it, but as long as the index goes down, super main buying funds like the one just now will emerge in an endless stream."

"This shows that there are quite a lot of main funds that are empty outside the market!"

"You have to look at the key points when looking at the problem. This shows that the index cannot fall at all."

“It also shows that the market is a ‘bull market’, a complete ‘bull market’ pattern.”

"Look at the 'Securities' sector. Damn it... it's going straight up. The 'Hua Investment Capital' check has almost reached the high point in early trading."

"I have to say that the strength of the market depends on securities."

"The 'Internet Finance' sector is obviously stronger. The 'Flush' check is about to reach a new high. It is really an 'unbeatable little strong'! It's a pity that I was really timid in the early trading and did not dare to follow the market decisively."

"Oh my god, the market trend this morning is really amazing."

"What about the people who said the market was going to plummet today? Why are they silent now?"

"Kongtou's face is really beaten to a pulp!"

"If the index cannot fall, it will have to rise, right? I don't believe that the index can stay sideways in this narrow range."

"I definitely can't hold it back. I have to win 3,300 points."

"Damn it, 'Western Securities' has become popular. I didn't buy the bottom before 10 o'clock. I really shouldn't have done it."

"Damn it, I feel like I sold it wrong again, hey... If I had known better, it would be better not to move. It's really like being harvested by the main force back and forth."

"What's going on? Is this a short-seller in today's early trading?"

"Needless to say, the half-hour decline in early trading was definitely a bearish move."

"The two major sectors of securities and Internet finance are really exploding. They are either at new highs or on the way to new highs. Those who hold the leading stocks in these two sectors are really happy. Unfortunately...my stocks are still stuck."

"Having a heartbeat is worse than taking action. With such a good market, you must focus on leading stocks in order to quickly make up for losses. Weak stocks cannot be held for a long time. You need to know...the weak are always weak! This is also a truth I have recently realized. I have already understood it before. I have invested more than 50%, and I have recently decisively cut my position to pursue the stock 'Flush'. Now, the previous losses have basically been fully recovered, and there is a high probability that I can still make profits in the future."

"With this 'flush' check, maybe the sky is the end, right?"

"We can no longer operate according to the previous method. I found that in this market stage, we must cover stocks. No matter how the market fluctuates, we must not buy."

"Absolutely. Only by 'covering stocks in the bull market' can you earn huge profits. Do you think it's nonsense?"

"After this wave of correction in the index ends, it should be impossible to go back again, right? Is it likely that it will go straight to 3,300 points in the future?"

"It must have gone straight to 3300 points!"

In the extremely fierce and heated discussions among these large retail investor groups.

At 10:16, the Shanghai Stock Index recovered all intraday losses and turned red again, returning to above the opening position, leaving a V-shaped trend.

Moreover, when the Shanghai Stock Index quickly recovered its intraday losses and successfully turned red.

The Shenzhen Stock Exchange Index and the ChiNext Index also rose in the red.

And the small and medium-sized board index, which has always been the market's leading index, did not fall back. Instead, it rose further, crossing the 1% increase position in a straight line.

This shows that this wave of explosive growth is purely caused by incremental capital groups.

There is no siphoning off liquidity in the small-cap concept stock space.

Of course, in addition to the performance of the index, the main lines of major market weights and popular main lines have changed from the weak form at the beginning of the session, and have actively risen across the board, heading towards new intraday highs.

And also at this minute.

The stock "Flush", which was once again violently scrambled by financial groups, was once again extremely tyrannical and was blocked by a series of large orders of tens of thousands of buyers. It was blocked on the daily limit board.

Immediately afterwards, after ‘Flush’ hit the daily limit again.

At 10:17, the entire 'Internet Finance' sector index, as well as the corresponding concept core stocks, once again broke out in a concentrated manner, rising in a straight line, setting new intraday highs one after another. At the same time, the concept sectors of the two cities were once again radicalized. And the top position on the stock gain list.