Rebirth of the investment era

Xu Xiang thought for a moment and replied: "It should be unlikely. The current attitude of the regulatory authorities is to invigorate the market and stimulate the development of the bull market trend, rather than to suppress the market conditions. Therefore, at this time, the 'national team' on the field, There is no motivation to actively reduce holdings.

Moreover, if it is true that the main capital of the 'national team' is reducing its holdings on a large scale, it will exit.

The leading stocks in securities, banks, and insurance, which are also the core holdings of the "national team"'s main capital, should not have the same market fluctuations.

Therefore, this stock reduced its holdings on a large scale and suppressed the main funds of the market.

There is a high probability that it is not the financial group of the ‘national team’. "

"Who could it be?" Zhou Kan thought for a while and said, "Judging from the market traces of many stocks, the amount of funds secretly reducing holdings should be very large, and the range of individual stocks held is very wide, and It’s not limited to a certain stock, or a few stocks.”

"Although it is not limited to a certain stock, or that certain stocks are selling, but..." Xu Xiang paused and continued, "It can be seen from the market that there is obvious heavy volume and stagnation, and the long and short differences are the most intense. The scope of the main lines of individual stocks is mainly concentrated in the main areas of 'big finance', 'big infrastructure' and 'military industry'."

"Concentrated in the main areas of 'big finance', 'big infrastructure' and 'military industry'?" Zhou Kan observed carefully and found the phenomenon Xu Xiang mentioned. At the same time, he also found that there was heavy volume and stagflation. Among the major component stocks with fierce long-short differences, many stocks can actually overlap with the "Yu Hang Group" stock holding concepts summarized by the market. I couldn't help but have a flash of inspiration in my mind, and said in surprise, "The boss is Said... Currently in the market, there is a large-scale sell-off of non-popular heavyweight stocks in these main line fields, as well as the main funds of other component stocks. It is very likely that they have previously concentrated positions in the main line fields of 'big finance', 'big infrastructure' and 'military industry'. , and the main force of the 'Yu Hang Group' that triggered the main trend of 'big finance' and kicked off the bull market?"

Xu Xiang nodded slightly and said: "It is entirely possible, but before this fund is completely exposed to market disclosure information, I am just guessing."

Zhou Kan thought for a while and said, "Shouldn't it be right? Whether it is reducing or increasing positions, this fund has always been vigorous and resolute!"

"Trading strategies will continue to change as the volume of asset management changes." Xu Xiang said, "Follow past history to determine future market trends, and follow past market historical information, or Based on past experience, analyzing the current market situation is tantamount to seeking a sword. The current total asset management scale of the 'Yu Hang Group', the main force, should already be over 200 billion, right?

Such a huge capital position.

If you still follow the previous trading pattern of this fund and insist on eating up the last bit of profit in the market, it is most likely due to market liquidity problems.

When the market conditions change significantly, it is impossible to get out.

Therefore, they must make predictions about market trends, respond to market trends in advance, and make corresponding changes in trading strategies.

Only in this way can we always maintain initiative in such a huge amount of funds.

Of course, this kind of advance prediction may be right or wrong. It may bring good feedback to the net value performance of the main fund, or it may bring bad feedback to the net value performance of the fund. This is Everything... depends on the trader's analysis of the market and the true level of prediction of future market conditions.

And there is no doubt...

Analyze based on current market trends.

The main fund of the 'Yu Hang Group' is most likely to be relatively bearish on the market outlook at this market node.

Of course, it is also possible that this is a passive reduction of positions in view of the net value liquidation of this main force at the end of the year, but the probability of this motive is relatively small. "

"If it is true that the funds of the 'Yuhang Department' are reducing their positions on a large scale..." Zhou Kan said, "Then I am afraid that the risk of the current market trend is really not small. Moreover, with the funds of the 'Yuhang Department' The huge volume and its related trading seats have an impact on the broad investor base of the entire market.

Once the motive for reducing positions of this fund is completely exposed, it will be disclosed by market information.

Following this fund, there are certainly not a few other major funds that have carried out operations to reduce positions and take profits, and have already made substantial profits.

And this chain reaction is bound to cause a collective loosening of the profit-making chip structure in the market, right?

Once the market's profit-taking chips and arbitrage chips are collectively loosened, concentrated selling pressure will naturally follow.

By the time……

I am afraid that the new incremental capital group outside the market, which is already gradually declining, will simply not be able to withstand such a rapid and concentrated selling force and quickly complete the transformation of the internal chip structure. "

"That's the truth." Xu Xiang nodded and said, "So, at this time, the market continues to be short-squeezed as it goes up, and the core main areas of 'big finance', 'big infrastructure', and 'military industry' , if the gap between the trends of a group of ordinary constituent stocks and their related popular heavyweight stocks and concept leading stocks becomes larger and larger, the possibility of extreme adjustment risks will become closer and closer."

"Then we..." Zhou Kan asked with a little worry, "Are we going to follow suit and reduce our positions on a large scale?"

Xu Xiang thought for a while and said: "The current asset management scale of our institution can only be considered small compared to the main funds of the 'Yu Hang Group', and there is no situation where market liquidity needs to be considered, so... ...It is okay to gradually reduce positions slowly in accordance with the order of 'from weak to strong' stock holdings, but there is no need to suppress the market like the other party, staring at the continuous buying orders and selling on a large scale.

After all, market sentiment and bull confidence, as well as various positive information inside and outside the market, have not reversed.

Even if the market's new entry capital flow gradually falls into a state of decline, the radical active buying capital group is unlikely to be able to fully absorb the market.

But it relies on the inertia of the trend and the short-term money-making effect of the hot market.

The major market indexes, especially the most powerful Shanghai Composite Index and A50 Index, will still continue to move upwards for a certain height based on the inertia of the trend, supported by emotions and money-making effects.

in other words……

For our institution, we have relatively ample time to reduce positions and take profits.

Therefore, according to the trading strategy we formulated before, it is enough to slowly reduce the position and exit.

and……"

Xu Xiang paused, smiled, and continued: "If it is true that the main funds of the 'Yu Hang Group' are secretly selling chips on a large scale on the current market, then the reason why this fund did not take the initiative to sell and suppress many On the market of individual stocks, and on the market of related stocks where the volume can be amplified, if you place orders through the gears, you can't see the huge selling orders that appear in the front gears... I am thinking that the other party should not want to sell in this way. Exposing your position at this stage will make other major funds aware of your position.

Since the other party does not want to expose its seat, it does not want to cause excessive violent fluctuations and market changes in the market.

Then we naturally don't need to intensify the market.

After all, we ourselves are also potential short sellers in the market.

Maintaining this strong state on the surface of the market allows more incremental funds to come in to take over the market and take the initiative to take over the chips we sell, allowing us to calmly reduce our positions before the risk of market adjustment. For us... …It also has great benefits.

In other words, we must be on the same side as the main funds currently selling this stock. "

"Understood!" Zhou Kan nodded, "Then I will gradually reduce positions and stop profits according to the trading strategy we formulated before."

After saying that, he returned his gaze to the trading boards of the two cities again.

After the two people's analysis and conversation, the trading time of the two cities has reached the 10:30 time node at this moment.

And after an hour of intense trading.

After the market over-consumed the incremental buying power accumulated by bullish sentiment in early trading, it has begun to fluctuate sideways and will no longer continue to rise sharply.

And, as trading time goes on…

On the market, there are core and popular main areas such as ‘big finance’, ‘big infrastructure’, and ‘military industry’.

The gap between the trend of ordinary constituent stocks and the market trend of popular heavyweight stocks and leading concept stocks is getting wider and wider.

Many popular heavyweight stocks and concept leading stocks are still rising in shock and volume.

However, these ordinary constituent stocks have fallen into a sideways and volatile trend of heavy volume and stagflation, completely unable to keep up with the growth of the sector index, as well as the strong growth of the Shanghai Stock Exchange Index and the A50 Index.

As for the non-popular main line component stocks.

Then it basically maintains the sideways oscillation mode of unlimited or shrinking volume, and there is still no concentrated attention from the main funds, as well as concentrated speculation from various active funds.

At 10:40, the market was still trading sideways, and the overall volume of the two cities began to decline.

At 10:50, there were divergences in the market of ‘Huagong International’.

At 11 a.m., the Shanghai Composite Index and the A50 Index began to gradually decline from a violently oscillating sideways state to a slow correction.

At 11:10, in the core main areas of 'big finance', 'big infrastructure' and 'military industry', as well as related industry sectors and concept sectors, no sector has hit a new high. Even the strongest securities sector, The Internet financial sector has also fallen back from a daily maximum increase of around 78% to a daily increase of around 2%.

At 11:20, the intraday turnover rate of ‘Bluestone Heavy Equipment’ reached 22%, and the market increase fell from close to the daily limit to around 6%.

At 11:25, the intraday turnover rate of 'Flush' reached around 15%, and the stock price fell back to around 5%.

Finally, when 11:30 arrived, the two markets ushered in the closing time.

I saw that the Shanghai index was set at a 17% increase position, but fell back a lot in the last half hour; similarly, the A50 index's intraday increase also fell back to 51% at the close. The related core component stocks and market trends, All of them have seen a decline in heavy volume, or a pattern of stagflation in heavy volume.

As for the Shenzhen Stock Exchange Index, the GEM Index, and the Small and Medium Enterprises Index.

The intraday gains of the three major indexes have fallen below 1%.

Moreover, most of the mainline areas and related component stocks that are highly correlated with these three major indexes have been shrinking and oscillating in recent days.

This closing situation is completely different from the market performance in early trading.

It can also be said that it is seriously lower than the psychological expectations of a group of determined bullish capital groups inside and outside the market who are following the trend.

"What's going on? It's going up and down again?"

After the two cities closed at noon, during the short break, the discussion among the large group of retail investors gathered in the discussion area of ​​the trading platform was still extremely intense.

"It's a benign correction, don't worry, it will definitely go higher in the afternoon."

"Although the major popular stocks in the market have fallen back, the upward trend has not changed. Continue to be bullish and firmly be bullish."

"The callback is to increase the turnover of hands, and I don't think there is a problem."

"Even based on the midday closing results, whether it is the Shanghai Composite Index, the A50 Index, or many popular stocks, they still closed at a new intraday high for the year. Is there any problem with this? Even in a bull market, the market is dynamic. Ah, how can there be no correction at all in terms of the market trend?"

"What are you afraid of? In the past two days, or even in the previous period, which day did the market trend not dive? But what is the final result? Isn't the Shanghai Stock Exchange Index still reaching new highs?"

"If you are worried about this position at this time, how can you possibly hold the bargaining chip?"

"It's best to sell the ones you don't like as soon as possible. I'm afraid I won't be able to buy cheap chips."

"A shock will help you go further. No matter how the main force shakes, in one word... we won't sell!"

"Everyone, remember this is a bull market. The market is so volatile. It's because the main players who don't have enough chips are washing the market and just want to cheat. Hold on, hold on to the chips... Only then can you make subsequent excess profits."

"It is said that 'keeping stocks is like being a widow'. If you can't bear this little shock, you can't hold on to the bull stocks, right?"

"The trend of the index has not evened out yet, so what are you afraid of?"

"And with so much good news in the market and so much incremental capital waiting to enter the market, how can there be any room for decline? The main funds only dare to play this little trick of intraday fluctuations. If you have the ability to go deeper."

"Hey, it's too deep. The main funds raised by the investors will definitely lose their chips."

"One word, buy! Just keep buying."

"Let's see, after the market opens in the afternoon, the Shanghai Stock Index will definitely reverse the morning's correction and continue to hit new intraday highs."

"In the past week, basically the afternoon has been the highlight, and I am strongly optimistic about the market turnaround in the afternoon."

Amid heated discussions among numerous retail investor groups...

At the same time, various information, as well as corresponding good news, are constantly being refreshed both inside and outside the market, and even on the macro news front.

Among them, the news that the 'Asia Pacific Bank' has been established, which will firmly support and assist the implementation of the national macroeconomic strategic plan of the 'New Era Road, Maritime Silk Road', has attracted everyone's focus and made more and more people pay attention to it. Investor groups, including major financial institutions, have once again turned their attention to the conceptual theme of "the Road to the New Era, the Maritime Silk Road". (End of chapter)