Rebirth of the investment era

At 9:42, the two major weighted sector indexes of banking and insurance also continued to rise, rising by more than 5%. Among them, the two core stocks of Ping An Insurance and Ping An Bank saw daily gains of more than 5%, and their volume was strong. The outbreak continued, and both reached new highs in transaction volume during the same period in the recent past.

At 9:43, 'Minsheng Bank' suddenly hit its daily limit, and the banking sector index continued to rise.

At 9:44, Minsheng Bank closed its daily limit, and the intraday trading volume reached around 2 billion in just ten minutes.

At 9:45, Southwest Securities hit the daily limit, and the securities sector index continued to rise.

At 9:46, the two core concept sector indexes of 'Reform and Reorganization of Central and State-owned Enterprises' and 'New Era Road and Maritime Silk Road' also broke through to an increase of 5%. Among them, 'China Railway Construction, China Railway Construction' and China Communications Construction Company, China State Construction Engineering Corporation, China South Locomotive \u0026 Rolling Stock Corporation Limited, and China North Locomotive \u0026 Rolling Stock Locomotive \u0026 Rolling Stock Locomotive \u0026 Rolling Stock Corporation Limited. , Yingkou Port's several popular leading stocks on the main line, the intraday gains have also exceeded the 5% position.

At 9:47, the indexes of several major industry sectors such as building decoration, building materials, commercial real estate development, machinery and equipment, public transportation, and non-automobile transportation also rose by more than 5%. The entire "big infrastructure" main line ranked first in the "big infrastructure" index. After the financial main line, there is also a full-scale explosive trend.

At 9:48, the core stocks of the 'military industry' sector, such as 'China Airlines Shenyang, Aerodynamics, Northern Navigation...' a number of heavyweight stocks also continued to surge in volume, which also caused the 'domestic military industry' industry sector index to rise. In a few minutes, it kept up with the growth of related industry sectors on the main line of "big infrastructure".

At 9:49, the net inflow of main funds in the entire securities sector, banking sector, and insurance sector has reached a total of 3.2 billion.

At 9:50, 'Xiangcai Securities' hit the daily limit. So far, in the securities sector, the three checks of 'Southwestern Securities, Pacific Securities, and Xiangcai Securities' have reached the daily limit, and 'Huaxin Securities, Western Securities, Huabai Capital, and Huashang Securities' , Huatai Securities, Huatong Securities' and many other component stocks have also stood at an increase of more than 5% at this moment, continuing to siphon the active capital groups on the market.

At 9:51, the check for 'China Construction' hit the daily limit again, with the day's turnover reaching 2.2 billion.

At 9:52, the low-level non-popular main sectors that have been abandoned by main funds, such as 'white electricity, liquor, coal, non-ferrous metals, petrochemicals...', the net outflow of main funds at this time has reached a total of about 2 billion. This shows that as the market trading time goes by, the short-term capital groups that took over individual stocks in these fields yesterday are still continuing to reduce their positions and stop losses under limited liquidity.

At 9:53, ‘Qianzhou Moutai’ fell 3%, showing an obvious trend of decline and heavy volume.

At 9:54, 'Huaguo Petroleum' plunged 2%, not only completely swallowing up yesterday's gains, but also swallowing up the cumulative gains of the previous three or more trading days in one fell swoop.

At 9:55, the "Shanghai Sanmao" surged straight up again amid violent fluctuations. At the same time, the "Shanghai Free Trade Zone" concept sector showed a rapid explosive trend.

At 9:56, the Shanghai Stock Index rose by 15% during the day, continuing its short-squeeze-style heavy volume trend. At the same time, the strongest A50 index broke through the 2% mark during the day. At the same time, other stocks The related trend of the main A50 index futures contract has even seen a substantial premium.

At 9:57, the scissor difference between the Shanghai Index, Shenzhen Index, and ChiNext Index reached more than 5%. This shows that the main market conditions and the main areas where active financial groups mainly gather are still centered around the Shanghai Index and the A50 Index. A number of large-cap stocks are on the offensive.

At 9:58, ‘Oriental Fortune’ hit the daily limit strongly.

At 9:59, 'Oriental Fortune' sealed its daily limit, with an intraday turnover of nearly 3 billion, which can be said to have changed hands at the daily limit. At this point, the 'Three Musketeers' of the Internet trading platform, which has attracted much market attention, have all achieved their daily limit, setting a new record in history. At a new high, the attention and discussion among market investors of its three stocks also soared further.

At 10 o'clock in the morning, the Shanghai Stock Index reached the 32% increase mark, and crossed the 3400 point, 3410 point, and 3420 point points without any hindrance, showing an extremely strong upward trend. At the same time, the two cities The trading volume, and even the time-sharing trading volume, are continuing to increase in volume.

At 10:01, the market's active capital flows, as well as the main capital flows, continued to converge towards the industry sectors and concept sectors related to the two core main lines of 'big finance' and 'big infrastructure', and stocks in the two cities reached their daily limit, except for listed new stocks and In addition to the stocks with daily limit on the single board that have a positive resumption, the number has reached 32, and among these 32 stocks, mid- and large-cap stocks with a market value of more than 20 billion account for almost half, and there are also stocks such as Minsheng Bank 'This kind of heavyweight large-cap stock with a market value of 100 billion has sealed its daily limit.

At 10:02, driven by the 18th consecutive daily limit of "Huake Dawning", the "sub-new stocks" sector became more powerful. In just a few minutes, the sector index increased by more than 1 point.

At 10:03, ‘Blue Stone Heavy Equipment’ suddenly and rapidly rose after opening low and gradually turning red, which can be described as full of demons.

At 10:04, affected by the trend of the "Blue Stone Heavy Equipment" monster stock, "Fushun Special Steel, Dachian Heavy Industry, Aerospace Development, China Airlines Heavy Machinery, Hongdu Aviation..." and other stocks that are expected to be highly correlated Concept stocks such as public nuclear power, military industry, and "sports industry development" headed by "Leiman Optoelectronics" have also attracted the attention of many short-term speculation funds, and the stock prices of corresponding stocks have strengthened.

At 10:05, the overflowing main capital group once again attacked stocks in the main "technological growth" fields such as 'domestic software', 'Internet applications', 'Internet software', and 'film and television media' that had slightly lagged behind in growth. Among them, 'LeTV Net, Internet Speed ​​Technology, Huaguo Software, Inspur Information, Huayi Brothers, Huace Film and Television...' and other stocks rose sharply. Among them, the check of 'Hengsheng Electronics', which has the concept of 'Internet Finance', rose rapidly during the day. Rushed to the 7% increase mark.

At 10:06, the transaction volume of the two cities reached the 300 billion mark.

At 10:07, the intraday trading volume of ‘Huaxin Securities’ has already touched the 5 billion mark. The trading volume can be described as extremely intense, and this check has firmly ranked first in the trading volume of the two cities.

At 10:08, Hua Investment Capital, the core leading stock in the securities sector, once again hit its daily limit with heavy volume. Within the sector, four component stocks reached their daily limit.

At the same time, the securities sector index rose by more than 3% during the day, still leading the gains in the two cities.

At 10:09, the insurance sector index and banking sector index surged further, reaching the 2% increase mark. The entire 'big finance' main line continued to strengthen, continuing to siphon off the active capital groups in the market, as well as all parties swarming to pursue and raise funds. The main financial group.

At 10:10, the intraday increase of ‘Commercial Bank’ reached the 5% mark.

At 10:11, the intraday increase in the 'Xinhua Insurance' check reached around 7%, just one step away from the daily limit, and the intraday transaction volume reached approximately 2.6 billion, setting a new high for the same time period.

At 10:12, ‘Hengsheng Electronics’ hit the daily limit.

At 10:13, 'Hengsheng Electronics' sealed its daily limit, and due to the daily limit of this check, the entire 'Internet Finance' sector index was strongly pushed up to an intraday increase of 87%, not only continuing to lead the rise of all conceptual themes in the two cities sector, and with an extremely steep upward trend, it set a new historical high for this sector, surpassing the peak position last year when this sector was subject to large-scale and continuous speculation.

At 10:14, the Shanghai Stock Index continued to set a new intraday high, with the intraday increase expanding to about 5%.

At 10:15, the intraday increase of the A50 index reached 65% again, and the intraday increase of the main A50 index futures contract reached the 3% mark, with a premium of close to 5%.

At 10:16, the number of non-linear stocks in the two cities reached their daily limit, reaching 52.

At 10:17, the transaction volume of the three main "big financial" weighted sectors of banking, insurance, and securities has exceeded the 100 billion mark, accounting for nearly one-third of the entire market transaction volume.

At 10:18, the overall market pattern of the two cities has basically completely formed a pattern with 'big finance', 'big infrastructure' and 'technological growth' as ​​the core breakthrough directions, and the remaining 'cycle', 'growth' and 'white horse' Blue-chip stocks are relatively lagging in terms of growth and trading activity.

“Damn it, this market trend is so strong that it’s completely unreasonable!”

At around 10:20 in the morning, in the main fund trading room of Yuhang and Yuhang Investment Company, Wang Can, as the trading team leader, carefully observed the changes in the market prices of the two cities. He was concerned that the Shanghai Stock Index continued to set new highs and continued to do so without any hindrance. The trend broke through the 3400 point, 3410 point, and 3420 point mark. I was full of shock. I couldn't help but sigh: "The more it deviates from the moving average, the more violent it rises. I feel that the trend of the entire market is completely unreasonable." ”

"Haha... Otherwise, how can we say it is a comprehensive bull market?" Next to Wang Can, fund trading manager Zhao Lijun, who is the main fund product of 'Yuhang No. 1', said with a smile, "Everyone thought that after the benefits of the 'Shanghai-Hong Kong Stock Connect' were implemented, the market would be short-lived. Adjustment, I didn’t expect it... A lot of funds should be empty now, right?"

"This short squeeze trend is indeed exaggerated." After hearing the conversation between the two, Zhu Tianyang from another trading group couldn't help but added, "Especially just yesterday after the favorable implementation of the 'Shanghai-Hong Kong Stock Connect', we abandoned the 'Big Financial 'Main line chips, trying to switch high and low, driving the low stagflation main line market such as 'big consumption, non-ferrous metal cycle, petrochemical industry, coal, pharmaceutical business...' and many active fund groups on the market should be quite uncomfortable now."

"Yesterday, it was this part of the financial group that wasted money on the main line of 'Big Finance'. Today, it may be this part of the capital group that is grabbing chips from the main line of 'Big Finance'." Zhao Lijun said, "The pattern and understanding are not enough, and You deserve to have these funds harvested!”

"The main thing is... no one would have thought that after the benefits of the 'Shanghai-Hong Kong Stock Connect' came into effect, the news that the central bank was expected to cut interest rates and reduce reserve requirements in December would ferment so quickly." Zhu Tianyang responded, "Previously, the market regarded 'big finance' as the When the core main line was developing, in fact, relatively speaking, the two major weighted sectors of banking and insurance did not move much. There was no strong performance like the securities and Internet financial sectors that far exceeded the market index. But if you look at today's market... banks The two major heavyweight sectors, insurance and insurance, have begun to take the lead.

This shows that the main line of "big finance" is fermented by expectations of the central bank cutting interest rates and lowering reserve requirements.

The certainty of its market conditions has not weakened, but has increased.

If nothing unexpected happens, before the central bank’s expectations of interest rate cuts and reserve requirement ratio cuts in December are fully realized, the market evolution of the ‘big finance’ line should be even crazier than before. "

"Under such a trend, if 'Big Finance' attacks so fiercely, I am afraid that the Shanghai Stock Index can quickly rise to above 3,600 points. Maybe it will really reach the 4,000 point mark by the end of the year." Wang Can said extremely excitedly, " Hehe... Maybe the profits of several major fund products under our institution can reach hundreds of billions this year."

Zhu Tianyang thought for a moment and said: "Seeing 4,000 points at the end of the year is still too optimistic. At present, the main upward driving force of the market is still the two core main lines of 'big finance' and 'big infrastructure'. The other core main lines, Obviously there is still little motivation.”

"Yes, the index seems to be a comprehensive bull market, but the specific main line market evolution is still a partial market." Zhao Lijun said, "We still need 'conceptual growth', 'white horse performance', and 'non-ferrous cycle'..." Stocks in these main areas need to move, otherwise it will be very difficult to raise the Shanghai Stock Index to 4,000 points in the short term just by relying on the two core main lines of 'big finance' and 'big infrastructure'."

Zhu Tianyang thought for a while and continued: "When the transaction volume of the two cities, under the ultimate market profit-making effect, breaks through to a higher level, surpassing the main lines of 'big finance' and 'big infrastructure' to accept liquidity, large-scale Incremental capital groups should still overflow in large quantities into the main areas such as 'Conceptual Growth', 'White Horse Outstanding', 'Non-ferrous Cycle...'. By that time, the stocks of these main-line related sectors will definitely rise.

In general, as long as the valuation level of the entire market continues to rise along with the core main lines of 'big finance' and 'big infrastructure', as well as major indexes.

Then, the valuation levels of relevant stocks in these fields such as ‘Conceptual Growth’, ‘White Horse Performance’, ‘Non-ferrous Cycle…’ will catch up sooner or later.

After all, in the comprehensive bull market stage, there will be no valuation depressions that funds ignore.

As long as there are stocks with corresponding investment performance-price ratio, in the increasingly fierce bull market, chips will be scarce and will not be ignored by the large influx of incremental funds. "

"Can the news of the central bank cutting interest rates and reserve requirements come true?" Wang Can muttered for a while and asked.

Zhao Lijun chuckled and responded: "Since everyone is spreading the rumor, there must be some basis for it, right?"

"Actually, no matter whether this news comes true or not, it will not affect the violent rise of the core line of 'big finance' at the end of the year." At this time, Liu Yuan, who had remained silent, suddenly said, "Master doesn't often Is it true that stock prices are based on expectations rather than the eventual fulfillment of expectations? As far as current market expectations are concerned, the core line of 'big finance' has basically fully achieved the expected effect, right? Related stocks are in this extreme situation Supported by strong future expectations, it is difficult not to continue to rise sharply.”