Rebirth of the investment era

I saw that the market had just started to beat.

The Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index and ChiNext Index rose rapidly under the fully brewed bullish sentiment.

In just one minute, the Shanghai Stock Exchange Index and the A50 Index returned to above the 1% increase mark. At the same time, the Shenzhen Stock Exchange Index and the ChiNext Index also rose back to the 8% increase position.

At 1:02, "Huaxin Securities" exploded with a capacity of nearly 500 million in just one minute, and the intraday transaction volume reached the 17 billion mark.

At 1:03, ‘Bluestone Heavy Equipment’ opened the lower limit, and the stock price rebounded.

At 1:04, the stock price of Huake Dawn also rebounded from a decline of 7 points to a decline of 5 points.

At 1:05, the ‘sub-new stocks’ sector rose again, with near-end sub-new stocks rising rapidly.

At 1:06, the 'national defense and military industry' industry sector rebounded, and nuclear power, military industry, domestic aircraft carriers, large aircraft, and Beidou navigation concepts that are closely related to it also showed a clear rebound trend.

At 1:07, the intraday increase of ‘Huaxin Securities’ rebounded to 5%, and at the same time, the intraday turnover increased to 17.6 billion.

At 1:08, the stock prices of the Internet finance trio of "Great Wisdom, Flush, and Oriental Fortune" rebounded.

At 1:09, the check for 'Yingkou Port' also turned red and rose sharply.

At 1:10, the intraday increase of ‘Huaxin Securities’ returned to the 5% mark. At the same time, the intraday turnover expanded to the 18 billion mark.

At 1:11, the stock price of Huaguo Construction returned to 3%.

At 1:12, the two stocks "Shanghai Steel Union" and "Hua Ke Financial" rebounded almost simultaneously, and continued to lead the rise in concept stocks in the entire Internet financial sector.

At 1:13, the stock price of Huaxin Securities once again hit the daily limit.

At 1:14, ‘Xiangcai Securities’ also showed signs of closing the daily limit.

At 1:15, in the main line of "Big Finance", the total main capital trading situation and net outflows gradually declined.

At 1:16, amid the recovery of core main lines such as 'Big Finance', 'Big Infrastructure', and 'Military Industry', 'Big Consumption', 'Non-ferrous Cycle', 'Petrochemical Industry', 'Mobile Internet', and 'Smartphone Industry' In the main areas such as blockchain, the net inflow of main funds has begun to weaken again.

Although these relatively less popular main lines follow the trend of several popular main lines.

Not much of a seesaw.

However, there is an obvious seesaw effect in terms of main capital inflow and outflow.

And the current changes in the market are enough to show that many major funds also have big differences in the overall logic of 'high-low switching'.

If you have the main funds, choose to retreat from the main lines of "big infrastructure" and "big finance".

But at the same time, there is also a considerable amount of funds flowing into the more powerful 'big finance', Core main areas such as "large infrastructure", "military industry", and "film and television media".

At 1:17, the "Shanghai Sanmao" closed the daily limit, forcefully turning the huge market divergence back into agreement.

Subsequently, driven by the return of the daily limit of Sanmao in the Shanghai stock market.

The entire "Shanghai Free Trade Zone" concept stocks, as well as a group of follow-up stocks that are closely related to the "Shanghai Sanmao" business and have strong trend correlation, are also strengthening rapidly, and there are short-term rises one after another.

At 1:18, the core concept theme of "reform and reorganization of central and state-owned enterprises" is also picking up, and the corresponding component stocks have strengthened one after another.

At 1:19, the Shanghai Stock Index returned to the 2% gain position during the day.

At 1:20, the A50 index's intraday increase returned to more than 5%. The two core weighted industry sectors of banking and insurance, as well as the securities sector index's intraday increase, all returned to the 2% increase position.

Subsequently, the combined main funds of the two cities began to gradually change from a net outflow state to a net inflow state.

Later, just when everyone thought that the market situation had completely recovered, today's market situation would still close with a big positive line.

But I didn't expect...

After 1:30, a huge amount of concentrated selling began to completely suppress the market's downward fluctuation.

At 1:35, the net outflow of major funds from the three major "big financial" main line sectors of securities, banking, and insurance began to accelerate.

At this time, when the stock price of ‘Huaxin Securities’ fell back below the 4% increase.

The daily transaction volume exceeded 20 billion.

At 1:36, after struggling for almost half an hour, ‘Blue Stone Heavy Equipment’ closed the limit again.

At 1:37, the intraday decline of 'Huake Dawn' also fell again, and this time the decline was faster, showing signs of falling to the limit following 'Blue Stone Heavy Equipment'.

At 1:38, the stock price of 'Huagong International', a core popular stock in the main line of 'big infrastructure', fell back to the flat position again, and the concentrated selling force on the market is also increasing with the times, with successive Thousands of major sellers placed large orders, which kept suppressing the stock price.

At 1:39, the check for 'Huaguo MCC' fell below the flat price and showed a downward trend.

At 1:40, the two checks of "China South Locomotive and Rolling Stock Corporation" and "China North Locomotive and Rolling Stock Locomotive and Locomotive and Rolling Stock Corporation" suddenly fell in volume simultaneously, and their stock prices turned from red to green.

At 1:41, "Huaguo Railway Construction, Huaguo Communications Construction, Huaguo China Construction, Huaguo China Railway, Huaguo Construction..." and many other "Hua" infrastructure stocks all fell sharply.

At this time, the daily turnover of the two cities has exceeded the 800 billion mark.

At 1:42, a sharp selling trend appeared on the market of 'Flush'. Great Wisdom and Oriental Fortune were affected by this, and their stock prices also followed the trend and fell.

At 1:43, the "Shanghai Sanmao", which once closed the daily limit, exploded again, forming a bad market trend.

At 1:44, the stock prices of the three leading stocks in the securities sector, Huaxin Securities, Xiangcai Securities, and Western Securities, all fell rapidly in an instant, and thousands of hands continued to appear on the market. The main sellers are big orders, and the active selling orders are endless.

At 1:45, the intraday trading volume of ‘Huaxin Securities’ was still expanding rapidly.

At 1:46, the stock price trends of 'Huake Financial' and 'Shanghai Steel Union' once again followed the trend and fell back to around the 5% increase position.

At 1:47, the Shanghai Stock Index rose within the day and once again fell below the 1% increase mark.

At 1:48, the increase in the A50 index once again fell back to the intraday low.

At 1:49, ‘Huake Shuguang’ dropped to the limit, and so far... In the entire sub-new stock sector, the two sub-new high-priced leaders have all dropped to the limit.

At 1:50, the intraday trading volume of ‘Huaxin Securities’ exceeded 23 billion.

Seeing that the two cities once again formed a trend of high volume and falling in the afternoon intraday trend, at this moment, inside the Shenzhen Xinniu Fund Company, in the main fund trading room, Mou Zhengxing, the trading fund manager of the 'Xinniu No. 2' fund product, carefully Looking at the changes in the two markets, he finally had to accept the judgment of the company's asset management business manager Fang Xinsheng and said: "Mr. Fang, looking at the current market situation, it should be difficult to reverse today, right?"

Fang Xinsheng responded with a smile: "The volume of transactions in the two cities has exploded to such an extent that they are still unable to make up the market. It means that the market is at this position and it is basically difficult to make an upward breakthrough."

"Yeah!" Mou Zhengxing nodded and continued, "Today's transaction volume of the 'Huaxin Securities' check seems to be breaking through the 30 billion mark. It's really scary. In my memory, it seems that in the past history of the two cities , there is no single stock that can achieve such a scale of trading volume within a day, right?”

Fang Xinsheng replied: "Today's intraday transaction volume of the 'Huaxin Securities' check is indeed terrifying. It should exceed all the expectations of the investor group who are paying attention to this stock."

"Such a large amount... I don't know who is throwing it." Mou Zhengxing sighed with emotion.

Although Fang Xinsheng had previously predicted that the central bank's interest rate cuts and reserve requirement ratio cuts, which everyone had fully expected, would be a major benefit, and there was a high probability that when they came to fruition, it would cause the market to lose all the benefits and turn them into negative trends. However, whether it is Fang Xinsheng or he None of them expected that the market would release such a level of volume after the good news came to fruition.

Of course, no matter how the current volume can change.

Both of them agreed at this moment that the market cannot go up here and continued adjustments are inevitable.

Therefore, judging from the previous forecast direction, it is a very correct trading strategy to reduce the position of the main fund products they manage to low levels in advance.

Fang Xinsheng thought for a moment and said: "There are a lot of funds sold today, but the main thing... should be the short- and medium-term profit orders and unwinding orders accumulated in the early stage, as well as those who have the advantage of information channels and lurk in the 'big finance' in advance." A large number of latent orders coming from the core main line, of course... there is also a core main force that everyone is more concerned about, which is also likely to be sold rapidly today."

Mou Zhengxing thought for a while and said, "Mr. Fang mentioned that the 'Yuhang Department' is the core main source of funds, right?"

Fang Xinsheng nodded and said: "Yes, this core main force of funds is also selling chips crazily today."

"How can we see that the core main funds of the 'Yu Hang Group' are also selling off on a large scale?" Mou Zhengxing asked with some confusion, "Just looking at the two core main lines of 'big finance' and 'big infrastructure' is crazy Can the explosive trading volume be achieved?”

Fang Xinsheng smiled and said: "It's not just that. Look at what the market has summarized. The 'Yu Hang Group', the main force of funds, is likely to have heavy positions in stocks, such as the core weights of securities stocks, core banks, and insurance weights in the securities sector. There are stocks, as well as "China-headed" weighted infrastructure stocks with high liquidity in the main line of "big infrastructure", as well as corresponding holding stocks in the Internet finance field, film and television media field, and smartphone industry chain field. Take a look at these stocks. Is there a huge increase in volume today, and the trend of stock prices fluctuating and falling under pressure is obviously more dramatic than other stock prices."

Mou Zhengxing observed carefully for a while and found that this was indeed the case. He couldn't help but said: "It seems that Mr. Su of the 'Yuhang Department', after making huge profits, couldn't help but see the news of the central bank's interest rate cut and RRR cut. Profit has been cut, but it is understandable. Not to mention that it is now the end of the year. The main financial group of the 'Yu Hang Group' has a need for net settlement. In just one or two months, they have Having made such a huge profit, we should also cut the profit and harvest it.”

"This should be just one of the reasons why this main force of funds has reduced its positions and taken profits." Fang Xinsheng said, "I think what really caused this main force of funds to reduce their positions and take profits is that this main force of funds feels that the next market adjustment will be in space. In terms of time, it won’t be short.

After all, this is a major fund product with a scale of hundreds of billions.

Whether it is reducing a position or building a position, it is very difficult.

Generally speaking, if the market is undergoing a relatively benign adjustment, there is not much room and time for adjustment, and the underlying investment logic of the market is relatively stable, such main funds will not easily lighten their positions and give up their chips. "

"The time and space for adjustment will not be short?" Mou Zhengxing thought for a moment and asked, "So, the bull market logic of the market needs to be verified and tested again?"

Fang Xinsheng nodded and said: "That's for sure. The previous rise has continued, the accumulated profit orders and arbitrage are not continuously cleaned, the chip structure is not further readjusted, and the chip structure is not further readjusted, and it keeps moving forward with a heavy load, even if the market volume can explode. If it reaches more than 1.5 trillion, it may be difficult to drive the market to continue to rise.

Therefore, we need to make a deep adjustment and reorganize the chip structure.

For the current market, it is still necessary.

Moreover, I feel that if there is the inducement and guidance of the main funds of the 'Yu Hang Group', the chip structure should be adjusted more firmly during this wave of continuous adjustments in the market, and the height of the future bull market should be even higher. right. "

"In general, the future must be optimistic, right?" Mou Zhengxing continued.

Fang Xinsheng nodded slightly and said: "It is definitely optimistic. The market has generally formed expectations for a bull market. As long as the Shanghai Stock Index does not break through 3,000 points during subsequent adjustments, everyone's expectations for a bull market will always exist. According to the entire market Based on the current valuation level and the cost factor analysis of profit-taking, even if the market adjusts violently and falls sharply, there is basically no possibility of falling below 3,000 points again."

When Mou Zhengxing heard what Fang Xinsheng said, he smiled and said, "That's good."

"However, although the space is likely to be determined, the time is not likely to be short." Fang Xinsheng continued, "This is also what I advocate for our company's fund products. At the current position, try to reduce positions and stop profits, and then wait for the market The reason for retracement and getting back the corresponding chips.”

"Well, Mr. Fang is still awesome." Mou Zhengxing praised from the bottom of his heart.

Then, when he turned his attention back to the two markets...

I saw that at this time, the market trading time had already entered 2 o'clock in the afternoon.

When the time entered 2 o'clock in the afternoon and entered the last hour of late trading, the long and short trading on the two markets began to become more intense. (End of chapter)