Rebirth of the investment era

"More than that." Lin Tingzong continued, "Currently, the accumulation of short- and medium-term profits in the entire market is very serious. If the opening position is too high and the index directly hits the expected position of many people in one go, then these accumulations will The short and medium-term profit orders will definitely come out in droves.

Although the current market is still in a process of continuous improvement in terms of volume and energy performance.

And it has gradually approached the trillion-dollar turnover mark.

However, the concentrated outflow of profit-making orders will still cause great short-term upward pressure on the market.

Once the index is suppressed by profit taking in the short-term trend and suffers a relatively large rout, then the current consistent bullish expectations and the hot bullish sentiment will gradually move towards exhaustion, thus affecting the next market trend. This creates a further suppressive effect.

Therefore, the market continues to fluctuate upward along the upward trend line.

This is the most reliable way to rise.

During this period, once the index continues to rise sharply, it is really not far from a trend change and a change in form. "

"According to what you said...there shouldn't be relatively big risks in the market at present, right?" Gu Chijiang heard Lin Tingzong's analysis, and felt a little worried in his heart, and asked, "Our company's two main fund products, Does the current position holding strategy need to be adjusted immediately?”

Lin Tingzong thought for a while and said: "There are no signs of exhaustion in market sentiment, and the core main lines of the market such as 'big finance', 'big infrastructure', and 'military industry' continue to lead the market rise, and active financial groups in various markets , and while it is still fully converging on these core main areas, we don’t have to rush to change our trading strategies.

After all, the market trend is in this steep upward trend.

Even if it reaches a short-term peak, it will be a process and will not be completed in an instant. After all, although the profit-taking accumulation in the market is serious, there are still a lot of buying orders that continue to be accepted.

And as long as the market conditions change, there will be time and space.

So with the size of our company's two main fund products, it is completely late to reduce positions and stop profits and exit when the market shows signs of trend change.

After all, with the size of our fund, we don’t need to pay too much attention to market liquidity. "

"That's true." Gu Chijiang nodded slightly, and the trace of worry in his heart gradually let go.

Currently, the total scale of the two main fund products managed by their company has not reached tens of billions. This size... Under the current liquidity of the two cities with a turnover of close to one trillion, if they really want to reduce positions and stop profits on a large scale , basically it can be completed in one day.

Therefore, there is no need to predict the subsequent market trend too far in advance and make early responses to reduce positions and take profits.

"At which point do you think the market's bullish sentiment may decline significantly?" After a pause, Gu Chijiang asked again, "At which point will the market's rising trend of continuous short squeezes change? In the current market... everyone expects the Shanghai Stock Exchange Index to hit 4,000 points this time, do you think it is possible?"

Facing Gu Chijiang's question, Lin Tingzong thought for a moment and responded: "In the current market, the long sentiment and investment confidence of the investor group are very radical, and the bull market pattern of the market has already attracted a large number of investments from the market. generally recognized by the community.

In this case, as long as the market still has a relatively hot money-making effect.

There are also a large number of off-site incremental capital groups entering the market on a large scale.

Then, market investment sentiment will not change much.

Unless there is a sudden and extreme bad news attack on the macro news, there may be a sudden crisis and a reversal of market investment sentiment.

And what is currently expected...

Whether it is external market trends, news, domestic macroeconomic trends, or regulatory authorities' willingness to move the market, they are basically developing in a continuously positive direction, and regulators are still protecting the market from time to time. The long sentiment and long atmosphere.

In other words, extreme negative impacts on the news will probably not occur in the short to medium term.

When external factors cannot affect the emotional changes in the field, it depends on the emotional changes caused by internal factors.

That is to say, it depends on the capital game within the market, which may lead to changes in market conditions.

From the current point of view, after the Shanghai Stock Index has fully exceeded 3,000 points, there is no obvious adjustment trend with both time and space in the continuous short squeeze and rise in the past month. In other words, there is a large accumulation of short- and medium-term gains in the market. Profits and unwinding have basically been accumulating since the Shanghai Stock Index broke through 3,000 points.

Among them, there is no shortage of large institutional capital of hundreds of billions like the 'Yu Hang Group'.

Once these main funds intervene early, have greater cost advantages, and make huge profits, they generally begin to reduce their positions and take profits, reaping market profits.

Then, the chip structure that has maintained the index's continuous short squeeze and rise during this period will inevitably loosen.

This leads to changes in market trends and a decline in the overall money-making effect of the market.

And when will these main capital groups, that is, the large-scale profits that have been accumulated in the market, take profits?

If the internal and external news is good, the economic fundamentals are also good.

Then, these funds will only take profits on a large scale when the short- to medium-term stock price trends, as well as many core popular stocks, meet expectations for changes in fundamentals, and when the stock prices fully fulfill their inner expectations.

There is also the settlement cycle mark of net worth at the end of the year, and many funds will take profits and stop profits.

Therefore, as far as I predict, the market conditions may experience greater fluctuations and adjustments during the mid-December and next inquiry time periods.

Moreover, in December, wasn’t it rumored that the central bank would also take measures to shift monetary policy?

Let’s see when this big news rumored by the market will be implemented.

If this piece of good news comes out early before mid-to-late December, maybe... the market adjustment will come early.

After all, the current main line of "big finance" is supporting the all-round surge.

The most important expectation factor is brought about by this blockbuster good news. Everyone expects the central bank to cut interest rates and reserve requirement ratios, and expects that macro monetary liquidity will shift to a more abundant environment. This is why they are frantically rushing to raise funds and make orders.' The corresponding core chips of Big Finance's main line.

If this piece of good news comes to fruition.

In the short to medium term, the 'Big Finance' line will lose its rapid upward momentum.

After all, once the big news comes to fruition, it will turn out to be bad news.

Many lurking capital groups who have achieved their expectations will definitely take advantage of this wave of major gains to sell chips on a large scale and quickly reap profits.

As for whether the Shanghai Stock Index can continue to rise and touch the 4,000-point mark in this wave of comprehensive short-squeezing upward trend of the Shanghai Stock Index.

I think...it's quite difficult.

Although after the Shanghai Stock Index officially crossed 3,500 points, the upward pressure was not as great as before under what everyone generally believed was a comprehensive bull market pattern.

However, after the index continued to rise and the active funds on the market continued to accumulate.

At this time, the entire market moves to the right.

Basically, the slightly active market investor group should have already entered the market and gone long.

In other words, there are not as many new investors entering the market as before who can provide new incremental funds to the market.

Before there is a complete change in macro monetary liquidity.

It is foreseeable that the market's turnover growth rate will definitely slow down.

In fact, the recent market turnover performance and increasing rate are no longer as rapid as before.

In addition, the Shanghai Stock Index is currently about 13% away from the 4,000-point position. With such a distance... it is impossible for a group of funds that have accumulated large-scale profit taking and unwinding to hold back positions. There are still a lot of capital groups that need to liquidate their net worth at the year-end mark, which will also lead to a sharp decline in the overall liquidity of the market.

In short, there is no expected huge new increase to support it. The probability of the Shanghai Stock Index quickly hitting 4,000 points without adjustment in time and space is not high.

At this stage, we cannot have too high expectations.

There should be no mentality of not reducing positions and taking profits if the Shanghai Stock Index does not reach the 4,000-point mark. "

"If you put it like that, I understand." After listening to Lin Tingzong's analysis, Gu Chijiang was completely confident and had complete expectations in his heart. He said with a smile, "Then let's keep the static position first. Let's see what happens next." How far can the Shanghai Index reach? Once the bullish power is exhausted and the upward short-squeezing trend of the Shanghai Index begins to gradually flatten, we will close as soon as the situation is good and quickly carry out profit-taking operations on the stocks we hold.

In fact, according to our original expectations.

At present, the net value performance of our company's two main fund products has exceeded original expectations, which can be regarded as an explanation to the investor groups who trust us.

Since the year-end mark is approaching, there is a high probability that the market will experience large amplitude fluctuations, and the market situation is difficult to predict.

Then it would be a better choice for us to retreat at the right time. "

"Yeah!" Lin Tingzong nodded, thought for a while, and continued, "Actually, the capital volume of our two fund products is not large. Under the current market liquidity, rapid capital adjustment will not affect individual stocks too much. If Mr. Gu wants to earn the last wave of excess profits in the market, we can still adjust positions appropriately and reduce the relatively weak stocks in our fund holdings, so as to concentrate them in the 'big' position. Financial's main line weights for popular leading stocks are up.

Generally, the market is at the end of a rising market.

In the process of the main line market trend beginning to differentiate, the leader can create higher space height and stronger profit-making effect.

I see that in the past two days, the main financial groups in the entire market, as well as the active medium and short-term financial groups, have been concentrating on 'big finance', 'big infrastructure', 'military industry', 'sub-new stocks', and 'film and television media'. Popular leaders in several core main line areas continue to gather to make deals.

I think...this should be the beginning of the divergence of the market's main trend. "

"Okay!" Gu Chijiang nodded, fully trusting and agreeing with Lin Tingzong's proposal, and said with a smile, "If you say it's okay, then that's okay."

After saying that, he asked Lin Tingzong to instruct all the traders in the trading room to immediately change the effect trading strategy.

As Lin Tingzong ordered traders to change their trading strategies.

At this time, the trading time of the two cities has reached 9:25, and the collective bidding of the two cities has ended.

I saw the entire collective bidding process lasted for ten minutes.

The final picture of the two markets was presented...

The Shanghai Stock Exchange Index opened higher and settled at a 59% increase, almost touching the highest point hit yesterday, and did not continue to leave a gap; the Shenzhen Stock Exchange Index and the ChiNext Index opened higher by 42% and 38% respectively. It is still weaker than the Shanghai Index; as for the small and medium-sized board index and the A50 index, one opened 29% higher, and the other opened significantly higher to 93%.

From the major market core indexes that opened higher, we can see that the main market trend is still in the direction of the main board, or in the direction of the main board's heavyweight stocks and blue-chip stocks.

Of course, it can also be said that it is in the main direction of weighting of ‘big finance’.

After all, among the A50 index component stocks, the component stocks with the largest weight are the heavyweight stocks in the main line of "big finance".

There is a certain overlap between the two.

And this is also the reason why the A50 index has been so strong since the outbreak of the "Big Finance" main line.

In addition to the performance of several major core indexes in the market, there are also a number of popular main lines in the two cities, as well as the performance of industry sectors and concept sectors.

I saw no doubt.

In the main line of 'big finance', related industry sectors and concept sectors still led the gains in the two cities.

Among them, the 'Internet Finance' sector index opened higher at a 63% increase, continuing to exceed the pre-market investor expectations for the performance of this sector; the 'Securities' sector index opened higher at a 29% increase, compared with At the beginning of the call auction, although it fell a lot, it was still strong; the two major weighted sector indexes of banking and insurance opened 98% and 92% higher respectively, and both also outperformed the strongest A50 index.

Behind the performance of the main line of 'big finance' are still the two core main lines of 'big infrastructure' and 'military industry'.

In the field of ‘big infrastructure’.

The two major industry sectors of 'Architectural Decoration' and 'Building Materials' have basically opened higher at around 1%, while others such as 'Steel', 'Commercial Real Estate Development', 'Public Transportation', 'Machinery and Equipment', ' The performance of non-public transportation' and other industry sector indexes also opened higher than 6%, all outperforming other major market indexes except the A50 index.

Among them, the concept section related to the main line of "big infrastructure".

Indexes on the core concept sectors such as 'New Era Road, Maritime Silk Road', 'Reform and Reorganization of Central and State-owned Enterprises', 'Shanghai Free Trade Zone' and 'Eurasian Economic Belt' also opened higher. With an increase of more than 7%, it continues to show a strong trend.

As for the main line of ‘military industry’.

The 'National Defense and Military Industry' industry sector index opened higher at 79%, still outperforming the Shanghai Stock Exchange Index.

Relevant concept sector indexes such as ‘military industry concepts’, ‘Beidou navigation’, ‘domestic aircraft carriers’, and ‘military-civilian integration’ have opened higher, basically between 7% and 9%.

The two main lines of ‘sub-new stocks’ and ‘film and television media’ have performed equally well before.

The 'sub-new stocks' sector index opened higher at 68%, showing a slight decline, especially the sub-new stocks that once hit the bottom of the sky in the session yesterday. Today, they are basically a 'one-word soul-breaking knife' kill. The situation has cast a shadow over the hype in this sector.

The ‘Film, Television and Media’ sector index opened at a high level of 78%, second only to the ‘National Defense and Military Industry’ industry sector index.

Although its overall performance is weaker than the three major weighted core lines of 'big finance', 'big infrastructure' and 'military industry', it is obviously stronger than the 'mobile Internet', 'smartphone industry chain', 'big consumption', etc. The main line, and also gathers some money-making effects.

And the main areas such as ‘mobile Internet’, ‘smartphone industry chain’ and ‘big consumption’.

As well as its associated major industry sectors and concept sectors.

Although most of the industry sector and concept sector indexes have also opened higher in the red market, they have basically underperformed the higher opening gains of the major market indexes. They have a profit-making effect, but not much.

As for the "non-ferrous cycle", "coal", "petrochemical industry", "animal husbandry", "medicine"... and other marginal main-line fields.

Then its related industry sectors and concept sectors basically maintain a slightly red market, or open flat or slightly lower.

These marginal main lines are still weak market performance areas in the entire market.

At the same time, conceptual sectors such as the 'ST sector' and 'Shell Resources' appear to be even more vulnerable when the IPO market is in full swing. They basically buck the trend and fall with occasional rebounds.

In addition to the performance of these industry sectors and concept sectors in the two cities.

The majority of investor groups are most concerned about the popularity of discussions among investors in the two cities and the performance of the top 20 and 30 popular stocks.

I saw that 'Blue Stone Heavy Equipment', the most popular big monster stock, opened higher at a 21% increase, and the trading volume during the entire call auction process reached 20,000 lots, which can be said to be a substantial increase in volume, and The divergence on the market has once again reached a serious level, and long and short trading is extremely intense.

'Huake Dawn' opened higher today, surpassing 'Blue Stone Reload', opening higher at an increase of 11%, and the market turnover in the call auction also shrank significantly compared to 'Blue Stone Reload' , the overall chip lock-in, and the long-short differences on the market are better than 'Blue Stone Reload'. It seems that the two big monster stocks have another change in trend shape and leading pattern.

After all, just take this opening form as an example.

The subsequent development potential of ‘Huake Dawn’ is obviously better than that of ‘Blue Stone Heavy Equipment’.

'Flush' opened higher at a 01% increase, which was slightly stronger than the performance of the 'Internet Finance' sector index, but its trend was weaker than other core popular concept stocks in the same sector, and on the market, the trading volume during the call auction phase The potential is also very large, and the long and short differences on the market are relatively fierce.

The check for 'Great Wisdom' opened at a high 09% increase, and there are strong signs that it will continue to rise by the limit.

‘Hua Ke Financial’ also opened sharply higher at a 36% increase.

At the last moment of call auction, the price of Shanghai Steel Union opened higher and fell sharply. In the end, it only opened higher by 89%. The market pattern was a bit strong and then weak.

'Jinzheng Shares', 'Yinjie Technology', 'Oriental Fortune', 'Hengsheng Electronics'... these popular stocks in the 'Internet Finance' sector have basically opened higher between 2% and 4%, generally stronger than The increase in the 'Internet Finance' sector index, as well as the market attention and discussion of these tickets, are also continuing to rise.

The check of 'Huagong International' finally opened at a high increase of 11%. Compared with other heavyweight large-cap stocks, it is still extremely strong.

‘CEFC Securities’ opened 49% higher.

‘Huaguo Construction’ opened 27% higher.

‘Huaguo MCC’ ​​opened 17% higher; ‘Huashang Securities’ opened 18% higher; ‘Huazhong Capital’ opened 67% higher; ‘Western Securities’ opened 49% higher…

Overall, the top 30 popular stocks in the two cities' popularity rankings.

Except for one or two stocks that were directly hit by bad news, the rest basically achieved a high opening in the red market, and the money-making effect of these popular stocks is still overwhelming.

Also, for the funds that took over these popular stocks during the session yesterday.

Today, a certain premium has been given to some extent, which can allow short-term funds to take over these popular stocks to leave safely.

Faced with the opening situation of the two cities...

The vast majority of investors inside and outside the market, as well as major institutional groups paying attention to the market, are quite excited.

Moreover, although major indexes, major industry sectors, and concept sectors.

Comparing the market performance at the beginning of the call auction between the two cities, that is, before 9:20, the market has dropped a lot, but in terms of this opening result, it is still clearly beyond everyone's pre-market opening expectations for the market, and everyone I always feel that as long as a number of popular stocks do not have obvious money-losing effects and still have money-making effects, then there will be no problems in the market of the two markets.

"Haha, high opening, high opening again!"

When the time moved to the short pause from 9:25 to 9:30, at this moment, among the retail investors gathered in the stock discussion area of ​​the trading platform, some people were staring at the results of the two markets after the call auction. , showed a bright smile, laughed and predicted: "There is no doubt that today the two cities will definitely have another big positive line breakthrough trend." (End of this chapter)

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