Rebirth of the investment era

At 10:35, the volume of "Huaguo Software" hit the daily limit. At the same time, the securities sector index began to fall slightly, and the net inflow of main funds also began to gradually decline.

At 10:36, ‘Huaguo Software’ sealed the daily limit.

At 10:37, the increase in the 'Securities' sector fell back to about 5%.

At 10:38, 'Netspeed Technology' hit the daily limit, and its stock price returned to this year's high stock price. It was 5% away from setting a new yearly high, and its stock price hit the 100 yuan mark again, becoming one of the few in the two cities. There are only a few high-priced stocks priced at 100 yuan.

At 10:39, ‘Inspur Information’ surged more than 5%.

At 10:40, ‘LeTV’ followed the trend and rose by more than 5%.

At 10:41, the stock prices of China CNR and China South Locomotive \u0026 Rolling Stock Locomotive and Rolling Stock Corporation, which had already shown signs of overturning, fell back. In terms of the performance of main funds, they began to show a net selling trend, which came from the sharp increase in "Fortune Road" The market premium of the position, despite the market value and circulation of the two stocks reaching more than 50 billion, still failed to raise the two stocks to the daily limit again.

At 10:42, 'Founder Securities' fell rapidly, with its stock price falling from around 5% to 5%.

At 10:43, the stock prices of 'Hengsheng Electronics and Oriental Fortune' fell back, and the number of daily limit orders on the 'Flush' daily limit board dropped sharply.

At 10:44, ‘Lixun Precision’ made a sudden change.

At 10:45, the 'Apple Concept' sector showed a rapid upward trend. At the same time, the electronic information sector rose rapidly, and 'Changying Precision' hit the daily limit.

At 10:46, the growth rates of the two major indexes, the Small and Medium-sized Enterprises Index and the ChiNext Index, caught up with the gains of the Shenzhen Stock Exchange Index, and the gap between them and the Shanghai Stock Exchange Index narrowed rapidly.

At 10:47, 'Changying Precision' hit its daily limit, and similar 'Apple concept' stocks such as 'Anjie Technology, Xinwei Communications, Sobeide, Crystal Optoelectronics, Goertek, OFILM Technology...' followed suit.

At 10:48, the gain of ‘LeTV’ expanded to 7%, and the GEM index crossed the 4% rise mark.

At 10:49, the "retail" and "Internet e-commerce" sectors in the "big consumption" field changed, and "Sanjiang Shopping" surged straight up.

At 10:50, white goods and liquor also began to move, with Haier Electric rising.

At 10:51, the price of ‘Qianzhou Moutai’ surged by 1%, reaching 5% within the day, catching up with the Shanghai Stock Index’s gains.

At 10:52, the automobile sector made a sudden move, with Shanghai Automobile Group rising.

At 10:53, the petrochemical and coal sectors also gradually moved higher and began to continue to recover the intraday losses from the previous day.

At 10:54, even the ‘ST sector’, which has been abandoned by the market and rarely paid attention to by major financial groups, also experienced a certain degree of rise.

At 10:55, the communication technology sector and the power equipment sector changed.

At 10:56, at a time when many market industry sectors were generally moving upwards, the securities sector index continued to fall back to around 35%, and the main net inflows of funds in the two major weighted sectors of banking and insurance were also gradually decreasing. Judging from the traces of market trends, many profit-making capital groups in the market are still doing the "high-low switching" rotation operation without giving up.

At 10:57, the increase in the two checks of China South Locomotive and China North Locomotive and Rolling Stock Locomotive and Railway Co., Ltd. fell back to around 5%.

At 10:58, when many profit-making capital groups in the field were rotating, the 'National Defense and Military Industry' industry sector suddenly emerged again.

At 10:59, the share price of aviation power, a heavyweight stock in the 'military industry' sector, rose sharply.

At 11 o'clock in the morning, the 'National Defense and Military Industry' industry sector index rose to more than 3%, ranking second in the industry sector growth lists of the two cities.

At 11:01, the stock price of 'Aviation Power' continued to surge, hitting the daily limit.

At 11:02, the stock price of 'Aviation Power' reached its limit. At the same time, the concept of 'domestic large aircraft' associated with it moved in a straight line. The core component stocks are 'China Airlines Shenyang, China Airlines West Aircraft, Aerospace Development, China Airlines Heavy Machinery, China Airlines Power...' A number of stocks followed suit and rose.

At 11:03, 'China Airlines Heavy Machinery' hit the daily limit. At the same time, 'Chengfei Integration', a popular and hyped stock that failed to reorganize, also surged and recovered its early decline.

At 11:04, Hongdu Airlines also followed suit and rose.

At 11:05, following the concept of 'domestic large aircraft', concept sectors such as 'domestic aircraft carrier', 'nuclear power', 'military-civilian integration', and 'Beidou navigation' related to the main line of 'military industry' also followed suit.

At 11:06, the leading stock of "nuclear power" in the early stage, "Fushun Special Steel" hit the daily limit.

At 11:07, ‘Fushun Special Steel’ hit its daily limit, and at the same time, it also drove the entire ‘special steel’ concept sector higher.

At 11:08, the increase in the 'National Defense and Military Industry' industry sector index once again expanded to more than 5%, replacing the increase in the securities sector index and becoming the first in the industry sector increase list in the two cities. After many days, it once again became the The two cities led the industry sectors.

At 11:09, under the attack of a group of profit-making funds switching rotations.

Even though the increase in the index is not large, and when the entire 'big finance' and 'big infrastructure' are basically in a state of sideways fluctuations, the number of red industry sectors and the number of red concept sectors in the two cities have further increased, reaching There are only 6 industry sectors and concept sectors in the two cities, and they are still in a slight decline.

At 11:10, a total of 1,800 stocks were in the red market in the two cities. The money-making effect of the entire market, in the form of "big finance" and "big infrastructure" being unable to achieve continued breakthroughs, not only has not weakened, but is still further fermenting and The sharp increase is attracting more incremental capital groups to enter the market.

At 11:11, the number of non-one-line trading stocks in the two cities reached 65. The daily limit trend of 100 stocks appeared once again.

At 11:12, after the securities sector stabilized at a daily increase of 3%, it no longer continued to decline.

At 11:13, the 'sub-new stocks' sector set off a daily limit trend, and the index increase of the entire 'sub-new stocks' sector also increased further, surpassing the increase of the index of the 'Internet Finance' sector in front, becoming the concept sector increase of the two cities. Number one on the list.

At 11:14, in the "sub-new stocks" sector, in addition to new stocks that have not yet been listed, the number of stocks that have reached their daily limit has exceeded 10.

At 11:15, ‘Huaguo Petroleum’ rose rapidly again, catching up with the gains of the Shanghai Stock Index.

And under the influence of the "Huaguo Petrochemical" check that will resume trading in the near future, the growth rate of the entire "Petrochemical" sector is also further increasing.

Then, as the market trading hours progress further.

The market pattern of the two cities began to be led by the two core main lines of "big finance" and "big infrastructure", and gradually transformed into a market pattern of general gains for all stocks in the two cities.

And they gather profit-making funds in the main areas of "big finance" and "big infrastructure", as well as funds to unwind arbitrage.

There are also more and more people who are reducing their positions and taking profits.

However, although there are many people who are reducing positions and taking profits, under the very abundant market liquidity, the main areas of 'big finance' and 'big infrastructure' are still the best expected in the future in the entire market, and the capital groups that follow the trend are also the same. There are quite a few, which leads to the fact that although the two core main lines lack the motivation to continue to break through in a short period of time, there is still support to stabilize the market and prevent the market from falling.

Finally, when 11:30 arrives, the two cities usher in the midday closing time.

I saw that the Shanghai Stock Exchange Index was still fixed at a 62% increase. Compared with the high point hit during the session, it did not fall back much. The Shenzhen Stock Exchange Index, ChiNext Index, and Small and Medium-sized Enterprises Index all rushed to 5 at the closing time at noon. % increase mark, completely narrowing the increase gap with the Shanghai Stock Index.

The A50 index, the strongest one, still closed above the 2% increase mark.

Moreover, the main contract of A50 index futures increased by more than 5% at midday closing. The premium between the increase and the actual trend of the index has not only not narrowed, but has further expanded.

Faced with the closing situation of the two cities at noon...

The vast investor groups inside and outside the market, whether they are major institutions, large hot money investors, or retail investors, are very excited.

Originally, everyone was slightly disappointed with the opening performance of the major market indexes today.

And many people have already prepared their psychological expectations for today's market adjustment. Unexpectedly... the opening was lower than expected. After the official opening of trading, a wave of sharp short-squeezing gains continued, and further It has expanded the market’s continued money-making effect and valuation level.

“Today’s low-level main lines near midday, and the strength of low-level stocks, shouldn’t it be a scam, right?”

"Probably not. At a glance, the funding commitment is relatively strong."

As soon as the market closed, fierce discussions exploded once again on the entire Internet, in the stock discussion forums of trading platforms, various stock exchange communities, and the comment areas of various financial media.

“I feel that the capital siphoning effect of the main lines of ‘big finance’ and ‘big infrastructure’ on the entire market is not as serious as before.”

"In the past, the active capital group in the entire market was small, and the natural siphon phenomenon was serious. Now the transaction volume of the two cities has exceeded 850 billion. Overall, the liquidity of the entire market is already very abundant. Even the grand main lines of the market such as 'big finance' and 'big infrastructure' cannot absorb so many active capital groups in one go. Therefore, the buying funds accepted by various parties will inevitably spill over to other main line areas of the market. In this way... naturally the main lines of 'big finance' and 'big infrastructure' will not have as serious a siphoning effect on other main lines as before."

"It makes sense. Only when there are funds can there be market conditions. The liquidity of more than 850 billion yuan is enough to support the general rise of the entire market."

"Not to mention a general rise in the market, at least it should be able to support multiple core main lines and break through upward at the same time."

"But the best choice is the leading stocks in the two core main areas of 'big finance' and 'big infrastructure', right? The so-called 'strong will always be strong' is nothing better than this."

"The 'military industry' line is also pretty good."

"Yes, look at the core leading stocks in the 'military industry' sector. This year's absolute growth rate is not inferior to the core leading stocks in the 'big finance' and 'big infrastructure' main lines. The annual growth rates of many military industry stocks have caught up. There are several leading stocks in the 'Internet Finance' sector."

"The 'military industry' line is indeed strong, but I always feel that the logic is not that clear."

"The main reason is that the valuation is too high, and you don't feel confident?"

"There is no way to value the 'military industry' sector. What do you think...what valuation is reasonable?"

"It's already a bull market, so why should we look at valuations? As long as there is room for imagination in the future, that's enough. As the saying goes, 'a bear market focuses on quality, a bull market focuses on momentum', isn't fundamentals something that bear markets should study? This is a bull market now, everyone, It’s time to change our investment and trading thinking.”

“But I feel like the market as a whole still favors large-cap heavyweight stocks, right?”

"Yes, the core main directions of 'mobile Internet', 'smartphone industry chain' and 'technological growth' led by the small and medium-sized board and the GEM cannot be said to have been fully developed at present. Let's look at the direction of the net inflow of main funds in the entire market. , it is obviously more biased towards large-cap weight stocks.”

“Currently, the market should still be in the stage where major institutional groups are significantly increasing their positions, that is, the major institutional groups are still seriously short of positions. As for institutions to increase their positions... considering liquidity, it must be the priority weight of core stocks, It’s the leading stock in the industry, so it’s not difficult to understand.”

"Is this the logic? Isn't it true that the valuations of heavy-weighted large-cap stocks are still low, while small-cap concept stocks dominated by small and medium-sized boards and GEM, as well as 'mobile Internet', 'smartphone industry chain', 'technology growth', etc. Stocks in the main field of conceptual themes have been speculated for several times last year. Have the valuations and chips not fully digested this reason? Relatively speaking, at this time, the bargaining chips of large-cap stocks are cleaner, right? This is just like the large hot money investors who have been speculating on small-cap concept stocks in the past month or two. This is also the reason why they focus on selecting sub-new stocks with clean chips."

"There are also factors in this regard, but...the focus is still on the expected changes."

"Hey, there is no need to analyze it, no matter what he expected or not, I know anyway... When more and more funds pour into the market, the chips in the market will definitely become more and more precious, and the more precious they will be. It will become more and more valuable, as long as you understand this basic logic."

"This is true, as long as the market turnover continues to rise, and such as the southern funds attracted by the 'Shanghai-Hong Kong Stock Connect', the leveraged funds brought by the balance of financing and financing, and the increasingly popular fund group funds are still there If you continue to enter the market, the stock price on the market will always rise."

"Since the overall trend of the market is upward and the bull market will become more and more fierce, then just buy whatever you want."

"Basically, in the entire market now, more than 1,500 stocks are rising every day. As long as you are not too unlucky, you can buy them casually."

“And you don’t have to be afraid if you buy at a high level.”

"What kind of high level is it now? You know, this is a bull market. The stock price of individual stocks is not the highest, only higher."

"Also remember, in the bull market, there is no need to cut off the meat if you are caught. You can let it go for a day or two, and it will come back soon, just like the day before yesterday when you took over the low-level mainline sectors of 'big consumption, non-ferrous metal cycle, petrochemical industry, coal...' Investors in core stocks in the industry are the same. If they didn’t cut off their profits yesterday, would they generally rise back today?”

"Haha, indeed, there must be a pattern!"

"You must know how to cover stocks and let profits run. This is a bull market!"

"Yes, this is a bull market!"

As the lunch break continues, countless investor groups across the Internet are discussing the topic, and the sentiment of going long continues to rise.

At the same time, the call for a bull market is getting stronger and stronger inside and outside the market.

And for the major institutions that entered the market first, and even the majority of investor groups, the market's recognition of the bull market trend is getting higher and higher.

Even among regulators and well-known major financial media, they have expressed the clear view that the market is in a bull market.