The investment era of rebirth

"I'm afraid the market will be over tomorrow, right?"

Amidst the numerous discussions on the 'road to wealth', pessimism among retail investors has begun to gradually spread.

"It will never be finished, I don't know, but what is certain is that the selling pressure in the market tomorrow will definitely be greater than today. First of all, in terms of the K-line shape of the index, the K-line closed today is extremely ugly. I am afraid that the market will inevitably

Adjustment, secondly... 1.1 billion has been spent on the Fortune Road list, which is basically a move to clear positions and leave the market. Tomorrow, there will definitely be no less funds to follow the Fortune Road seats. So... under the influence of the two, tomorrow

The market trend will definitely not be good, but I think... there is no need to be too pessimistic, after all, the overall trend of the market is still upward."

"Judging from the past data of Fortune Road on the Dragon and Tiger List, every time Mr. Su makes a large-scale sale, it is basically at the top of the market. I think... it is better to be pessimistic than optimistic at this time, even if the trend of the index is

If the market trend of 'securities and venture capital' can continue, it should be over, right?"

"It has been said before that the logic of the outbreak of the main line of 'securities and venture capital' is a bull market. Now that Mr. Su of Fortune Road is liquidating chips in this line on a large scale, does it mean that the logic of the bull market is still untenable?"

"If the logic of the bull market is untenable, then the basic logic of the market rise has changed!"

"If you can't get past 2,500 points, why are you thinking about a bull market?"

"Fortune Road's large-scale liquidation and selling at this position means that it is bearish on the market. However...what is surprising is that Fortune Road is on the two core lines of 'mobile Internet' and 'smartphone industry chain' in the GEM direction.

There is still no movement. Does this mean that Fortune Road has completed the clearance of its positions in the two core main lines of 'mobile Internet' and 'smartphone industry chain', or has it locked up?"

"Looking at the two main concepts of 'mobile Internet' and 'smartphone industry chain', they have fallen without resistance in the past few trading days, with almost no major funds to protect the market. I think Fortune Road has been cleared, not locked.

warehouse."

"So... Fortune Road's large-scale exit from positions on the list on October 17th was the final reminder?"

"Hey, it's a pity. I agreed on a way to get rich, so I did it. But I still had a little luck and lost so much money in vain. This mistake... I must not make it again this time."

"If the two main lines of wealth, the 'mobile Internet' and the 'smartphone industry chain' are cleared, then we are really bearish on the market's follow-up market. Alas... unlucky, I chased Oriental Securities higher today. I originally wanted to

If the wealth path out of the position is not serious, I will continue to take it tomorrow to see if I can turn it back. Now... I can only resolutely close the position and stop the loss."

"Indeed, once the logic of the bull market collapses, the subsequent market adjustment... will definitely not be small."

"In addition to the logical problems of the bull market, if Fortune Road is so eager to exit the market, will there be any negative consequences for the market in the future?"

"This is also possible..."

"Anyway, it's better to be conservative next time. After all, Fortune Road, a positive guidance indicator for market conditions, seems to have not failed yet."

"Indeed, the sales volume of more than 1.1 billion is impressive. This is the largest single-day sales volume since Fortune Road appeared on the Dragon Tiger List. Believe it or not, the influence of this seat on the market, but such a large sales volume is

Out of volume, this kind of selling signal from the main funds must be paid attention to no matter what.”

"In addition to Fortune Road, Jiefang South Road also has two or three stocks on the list of selling positions today."

"And Yanjing Minghua Road, which has followed Fortune Road several times before, has also been on the sell list of two or three popular stocks."

"Sell, sell, sell... there's nothing to say. Since the bull market has come to nothing, what's the reason to continue to hold 'securities and venture capital'?"

"I don't care whether it's a bull market or not. Anyway, I have one principle when it comes to stocks. If I see Fortune Road to buy, then I will buy. If I see Fortune Road to sell, then I will sell. After all, with the current capital strength of Mr. Su on Fortune Road,

Quantity, if he has to move in and out of a lot of positions, he will never be able to escape the Dragon and Tiger List."

"Yes, yes... we just need to nail down the seat on Fortune Road."

"At the same time, we can't take any chances. Damn it... I just exited the two main concept core stocks of 'Mobile Internet' and 'Smartphone Industry Chain' on Fortune Road, and I still hold the main position of Fortune Road."

I had this idea, but ended up holding the chips all the way until now, and lost nearly 20 points in vain.”

After the Dragon and Tiger list was announced, as time went by...

The discussion about the violent exit of positions on Fortune Road is still continuing.

During this period of time, the internal news about "the market IPO is about to restart" also began to expand and became known to more and more major institutional groups, as well as some well-informed core hot money players in the market.

"Damn it, I asked why 'securities and venture capital' have been so strong recently. I asked why the popular concepts in the early stage of the Small and Medium-sized Board and GEM were repeatedly abandoned by the main market funds. It turns out that the real core logic is actually

Here." In the magic city at this moment, inside Yinghui Fund, Liu Guanhai, who had been furious when the data on the Dragon and Tiger Ranking came out, was even more furious now, "These guys... actually sold out their expectations in advance. It's really a mouthful of soup.

No one is allowed to drink."

If a low price is good, it is a good thing; if a high price is good, it is a bad thing!

After all, it is expected that after the speculation is completed in advance, the benefits will come out, which will be used to cash in profits and ship goods.

From this aspect, Fortune Road’s violent exit today was extremely accurate.

And at the same time...

Like him, there are not a few core traders and fund managers of major institutions who are full of complaints and depression after hearing this news.

Of course, among them, some people remain relatively optimistic after careful analysis.

After all, in the eyes of some people, it is not necessarily a bad thing that Fortune Road chose to violently liquidate positions and stop profits before the news of "market IPO restart" has officially spread to the outside world and to the entire market investor group.

.

Because this seat on Fortune Road is inherently a double-edged sword for market speculation.

When buying on Wealth Road, making good use of it can quickly stimulate retail investors' emotions and intensify the market's hype; however, large-scale exits at untimely circumstances will also seriously affect the market's retail investors' following sentiment, causing the market's hype to be severely affected.

of blow.

Now, Fortune Road is clearing out its stores on a large scale.

But generally speaking, looking at the entire market, the expectations of "securities and venture capital" have not completely disappeared. The hidden line of "market IPO restart" is slowly emerging.

If you make good use of this expected effect, let alone continue this main trend.

At least it can make a decent rebound and reduce the losses caused by the sudden crash of Wealth Road.

In other words... Fortune Road completed the first wave of market harvesting before the news came out, but this line... still has a second wave of market conditions to harvest.

Of course, the premise of all this is...

It's because they feel that with such a large-scale exit of positions, they don't have much chips in their hands to influence the subsequent market trend.

In this double ferment of emotions and news.

In the evening, institutional analysts, financial media, stock commentators, and the relatively stable trend of the external market, who were still brainlessly singing bulls, finally gave some hope to the relatively pessimistic investors in the market and reassured some of them who had been suddenly devastated.

, the fiery mood cooled down.

So, the next day, Wednesday, October 24, 9:15.

At the beginning of the call auction, the two cities did not show extreme panic and selling sentiment. Although many stocks that were hit hard by Fortune Road yesterday opened sharply lower, they did not completely lack liquidity and take over orders.

"The situation is better than we expected!"

Seeing such a collective bidding situation between the two cities, at this moment inside Yuhang Investment Company, in the trading room, Li Meng said with a smile: "There is a lot of money for buying the bottom and betting against it. Overall, 30% of the stocks are red, and the investment sentiment is not at all."

It's so bad as we expected, so we estimate that the index's lower opening shouldn't be very large."

"Of course, what's even more surprising..."

"It's 'securities and venture capital', the two main concept sectors that were killed and collapsed yesterday. Today, at the beginning of the call auction, they only opened about 1.5 points lower."

"I learned from Director Lin that the current 'market IPO restart' matter has been formally determined internally, and the issuance review committee will restart the IPO review process, which should be next month, and the earliest estimate is... December

, or in January next year, the first new stock after the IPO restart will be listed." Su Yu continued, "The line of 'securities, venture capital' can still be stable, and there is no crash-like flow.

The sexual crisis should be caused by the news of "market IPO restart", which has spread from the inside to the outside on a large scale. After all, in the A-share market, there are always a very small number of firm long-term investment funds, but they are invested in the name of long-term value.

Under the banner, the majority of funds are actually engaged in emotional speculation.”

"Has it been confirmed?" Li Meng was a little surprised and suddenly said, "No wonder... the line of 'securities and venture capital' can be stabilized again."

Su Yu smiled and continued: "A-shares are both a policy market and a news market. Policies and news are conveyed layer by layer. The main funds with the advantage of information channels rely on news and emotions to create expectations.

, the drama of big fish eating small fish and small fish eating shrimps has never changed, and there is nothing strange about it.”

"Take another look at the early core popular main lines on the Small and Medium-sized Board and GEM, as well as various popular concept stocks."

"On the small and medium-sized board and the GEM board, we didn't have any chips yesterday. However... at this moment, the ST sector still almost fell to the limit across the board, and was abandoned by all the main funds in the market, 'reorganization backdoor', 'intelligent

The same goes for stocks related to popular concepts such as the mobile phone industry chain' and 'mobile Internet', which basically have no main funds to undertake and are completely free to launch."

"Retail investors may feel that the market trend is strange at this moment."

"But as the news spreads, the core main funds of all walks of life, who have already smelled it, feel clear in their hearts at this moment."

"According to the market trend at the beginning of the call auction..." Li Meng carefully analyzed the ideas in Su Yu's words and said, "Do you think the market will concentrate on the 'securities and venture capital' fields?"

Su Yu nodded slightly and said: "The logic and expectations of the bull market have ebbed, but the hidden line of 'market IPO restart' has just been revealed. The line of 'securities and venture capital', although the expectations have changed, in general

It is said that there are still expectations. On the contrary, in the direction of the small and medium-sized board and the GEM, under the influence of market expansion, it is all negative. If the news does not materialize, under the negative expectations, the main funds of the market do not dare to lift the small and medium-sized board.

, the direction of the GEM market."

"but……"

Su Yu paused and then said: "After yesterday's trend, the internal chip structure of the 'Securities and Venture Capital' line has been loosened. Many of the funds that were chasing the highs yesterday were trapped in high places. I guess even if

In the following one or two days, before the news actually comes out, market funds will continue to gather in this direction, and it will be difficult to create new heights."

"After all, yesterday's volume was so large, and the market took only a day or two to turn around. It would be thankless to try to pull it up and free up the funds trapped yesterday."

"So, I guess the market will have a decent short-term rebound at most."

"Then, I'm afraid it will continue to fall."

"Because the restart of IPO in the market is, in essence, a drain on market funds, which is bad news for the entire market. In addition, the time is now towards the end of the year, and many main funds have a need for net worth liquidation. They take the initiative to make arrangements and continue to participate in heavy positions.

The market is not very exciting."

"This will cause active funds in the market to further decline, and the overall amount of market funds will be missing."

"Well!" Li Meng responded, "Let's... follow the established strategy and continue to reduce our positions? Actually... I was originally worried that our large-scale appearance on the Dragon and Tiger List would have too great an impact on the market. Related

The liquidity of tickets has been greatly reduced, and we cannot continue to sell out and reduce our holdings. Now it seems... I am overthinking it. With the news of the resumption of IPOs in the market, there are really a lot of funds that want to lick the blood."

Su Yu smiled and said: "That's right. After all, everyone thinks they are smart people and they all think they can escape unscathed after reaping profits."

"such a pity……"

Su Yu shook his head and continued: "The 80/20 rule of the market is valid at all times."

While the two were talking, the time had already reached 9:20.

I saw that after the initial call auction period, after many false pending orders were completely removed, the phenomenon displayed by the market was very different from before.

All industries and concept sectors in the two cities showed a low opening trend.

Of the nearly 2,000 stocks, only about 21% are still in the red.

The ‘securities, venture capital’ concept sector, which had previously performed slightly strongly, still performed slightly strongly despite market acceptance, but the decline also fell to about 2.5%.

Among them, the popular stocks Oriental Securities opened lower by 4.51%, Huatong Securities opened lower by 3.72%, Huaxin Securities opened lower by 2.36%, Huaxin Securities opened lower by 6.75%, Eastern Venture Capital opened lower by 4.79%, and Zhezhou Oriental Securities opened lower by 2.88%.

Beijing High opened a new low of 4.62%, and Wanqi Enterprises even opened the market directly below the limit. From yesterday's high, it wiped out a drop of more than 30% in one breath.

As for the small and medium-sized boards, which have basically no main funds to undertake, popular concept sectors related to the GEM, and popular stocks.

Its low opening range is above 3%.

In particular, Huaqingbao, Changqu Technology, LeTV, Wangsu Technology, Fenda Technology, Xinwei Group, Xinwei Communications and other concept stocks that were hotly speculated in the early stage and were at high levels are now opening at a low of 5%.

The above range, compared with the intraday high hit the previous week, the average retracement range has reached about 28%.

Of course, what is even more tragic are the related shell stocks and ST sectors that are on the verge of delisting.

Stocks related to core concepts in these two fields have already occupied the top positions in the decline lists of the two cities before the official opening of trading in the two cities.

but……

Although various industries in the two cities, the concept sector opened seriously lower.

However, at 9:20 and 9:21, after two minutes of emotional catharsis, the market's panic effect and the number of extreme selling did not continue to expand. Instead, the bargain hunting funds at low levels began to slowly suppress the selling, and the stock price dropped.

, sector indexes, and concept indexes all pulled back upwards.

Finally, when the time reached 9:25, the collective bidding in the two cities ended.

The Shanghai Stock Exchange Index only opened lower by 1.23 points, reporting at 2351.11 points, holding the 2350 mark; as for the ChiNext Index... it was relatively weak, opening lower by 1.73%, breaking through 1300 points, and fell back to 1293.85.

In addition to indexes, sectors and individual stocks.

The industry sectors and concept sectors in the two cities still showed an overall low opening trend.

Among them, the securities sector opened lower by 1.16%, the venture capital concept sector opened lower by 1.43%, the 'mobile game' concept sector opened lower by 2.33%, the 'Apple concept' opened lower by 1.75%, the 'film and television media' concept opened lower by 2.36%, and the ST sector

It fell 2.89%, and the concept sector related to "restructuring and backdoor" also fell 2.11%.

As for the popular concept stocks ranked in the two cities...

Orient Securities fell back to 3.22%, Huatong Securities fell back to 2.56%, Oriental Ventures fell back to 3.17%, Wanqi Enterprise opened the limit, and the decline fell back to 6.85%; Huaqingbao, Changqu Technology, LeTV

Net, Wangsu Technology... and other GEM stocks have maintained sideways fluctuations compared with before, and the decline has not changed much.

"Judging from the trend of the entire call auction stage, the stocks that Fortune Road sold rapidly yesterday were all retracting their losses, and a lot of funds were received. Instead, they were some early-stage small and medium-sized stocks that Fortune Road did not sell on a large scale yesterday.

, the popular stocks on the GEM are actually languishing, without any major funds to take over the market, and there are no traces of bargain hunting." Seeing the opening scenes of the two cities, Yuhang and Jingda Investment still did not learn anything about the market.

Gu Chijiang, who was completely confused by the news of the resumption of IPO, wondered, "When did Fortune Road's crash turn into a good thing for the market?"

"Today's call auction trend in the two cities is really strange." Next to Gu Chijiang, fund manager Lin Tingzong frowned and said, "The GEM and the small and medium-sized board are too weak, but these two index sectors and their related core

Concept stocks... obviously adjusted more fully yesterday. Is there no reason why there are no main funds to make orders?"

"Could it be..."

Lin Tingzong paused, thought of a possibility, and turned his head to look at Gu Chijiang: "Mr. Gu, have you heard any obvious negative or good news in the market? Yesterday, Fortune Road sold out its positions in a large scale. I feel strange that today's market

Such a trend is even more strange. Looking at this situation... I feel like there is some important news guiding it?"

"I haven't heard of it!" Gu Chijiang replied subconsciously, then thought about it and added, "Maybe my information is blocked, I will ask others to inquire."

After saying that, he took out the phone and dialed.

Then, after about a minute or two, he hung up the phone in shock.

Lin Tingzong felt that something was wrong with Gu Chijiang's expression, and asked anxiously: "What's the matter? There is indeed a situation!"

"I heard that the IPO market is about to restart." Lin Tingzong said, "The news coming from within Huaxin Securities should be correct."

"No wonder!" Lin Tingzong stared at the briefly suspended market, and all the doubts in his heart were solved. "No wonder yesterday, only the field of 'securities and venture capital' was able to remain stable despite the collapse of the whole industry. It is no wonder that the small and medium-sized boards were still stable."

, a large number of concept stocks on the GEM that have only expectations but high valuations will be completely abandoned by funds and will continue to fall.”

"Since this news is expected, why is Fortune Road running so hard?" After Gu Chijiang inquired about the news, he became even more confused. "Is it possible that Mr. Su from Fortune Road is lagging behind our news channels?"

, didn’t know the news that the IPO market was going to restart, so...we were out early?”

"It's possible!" Lin Tingzong said, "Mr. Su from Fortune Road, although his ability to hype the market is extremely fierce, he is a new player in the market after all. He cannot be very deep in market intelligence and the laying of news channels.

It is entirely possible that the news may be delayed.”

Gu Chijiang thought about it again and felt that this logical explanation was the only one that made sense, and said: "Look at it this way...'Securities, venture capital' is probably going to have a second wave of market prices!"

"It's hard to say." Lin Tingzong replied, "The news of the IPO restart in the market continues to ferment. As it spreads, there will indeed be hedging funds and active funds converging on the 'securities and venture capital' sectors that benefit from the IPO restart. But this news,

Overall, it is still a big negative for the market at the macro investment level. The fields of securities and venture capital are not small main lines. If a second wave of market is to occur, huge incremental funds are needed to promote it. I am afraid it will be a negative for the market at the macro level.

Under the influence, there is not so much incremental capital to drive the market.”

"but……"

"Although it is not certain that there will be a second wave of market conditions, the concept of stabilizing the current situation should still be great."

"Restarting the IPO market?" As the two of them were talking, Mu Yao appeared behind them at some unknown time, "No wonder, no wonder... now we are saved!"

After saying that, he eagerly exited the fund trading room and returned to the computer he was operating.

Gu Chijiang glanced at Mu Yao, who was obviously acting a little abnormally, and wanted to scold him, but when the words came to his lips, he found that the figure was gone, so he endured it.

And on the other side...

Mu Yao, who had already heard the news, looked at the market that had started to beat.

He poured all the funds he had just borrowed into the market of Huatong Securities again, hoping that today's securities sector would be able to reverse yesterday's trend under the fermentation of the news of the market's IPO restart, allowing him to make a desperate comeback and make up for it.

Looking back on the daily losses in the past few days.

And just as he expected...

After he invested money, this time, the market began to change exactly as he expected.

I saw that the 'Securities, Venture Capital' sector, after the official opening, continued to rise rapidly, driven by various bottom-hunting funds. At the same time... the Shanghai Stock Exchange Index, the Shenzhen Stock Exchange Index, and the ChiNext Index also broke away from the convergence to varying degrees.

The shadow of panic during the bidding gradually fluctuated upward, covering the gap opened low today.

At 9:35, Oriental Securities, Huatong Securities, and Zhezhou Oriental became popular.

At 9:41, ten minutes after the opening, the Shanghai Stock Index fell back to less than 0.5%, covering the gap, and is still slowly rebounding upward.

At 9:52, Orient Securities and Huatong Securities rose by more than 1%. Among them, Huatong Securities’ turnover exceeded 600 million. The two core stocks of the securities sector seemed to have completely gotten rid of the shadow caused by the sudden market crash of Fortune Road yesterday.

It shows a very strong attitude towards counter-packaging trends.

At 9:58, the Shanghai stock index turned red, and the securities sector and venture capital concept sector also turned red and rose.

At 10:06, even the GEM Index's decline shrank to less than 1%, filling the gap at the opening.

At 10:16, unexpectedly, Hengxin, who had the potential to break out of the sky-and-ceiling trend yesterday, made a strong upward attack on the lower limit in early trading this morning when the position was still locked up on the road to recovery, and actually broke out of the floor-to-ceiling trend at this moment, forming a

The trend of 10 boards in 11 days continued to open up the market speculation space.

Subsequently, Zaiqian Hengxin embarked on an unparalleled trend of 10 boards in 11 days.

The investment sentiment in the entire market began to pick up significantly, and everyone's expectations for market counter-insurance began to grow crazily in their hearts, and then continued to rise.

At 10:21, Zhezhou Dongfang, which had been going smoothly and had an increase of 3%, suddenly plunged again, and a series of large orders of 10,000 lots were directly hit.

At 10:22, due to the fact that Zhezhou Oriental, the leader of the "Three Oriental Musketeers", encountered a series of large orders with tens of millions of funds, the trend turned from red to green, which directly affected the trends of Oriental Entrepreneurship and Oriental Securities, resulting in the loss of these two companies.

The stock also encountered strong selling, and the trend began to turn downward.

At 10:23, the ‘Three Musketeers of the East’ turned around one after another, causing the recovering sentiment in the ‘securities and venture capital’ fields to begin to ebb quickly, and related sector indexes and core stocks also experienced a surge and a fall.”

"Unexpectedly, this rebound trend was actually brought down by Zhezhou Oriental." Seeing that the market was frightened and the recovering investment sentiment began to fade away, Li Meng, inside Yuhang Investment, was slightly surprised and said, "I just smashed Zhezhou Oriental.

What is the purpose of this fund...?”

Su Yu looked at Zhezhou Oriental's market, pondered for a while, and replied: "The time for the good news to be realized is approaching. Mr. Wu of Zhezhou Oriental Group is afraid that he will make a plan to reduce his holdings, so La La who knows the news

If you want to trade funds, you must withdraw them in advance, and you will not wait until the market actually ends."

"Hey...I thought that after the emotional catharsis this morning..."

"As the news of the market's IPO restart gradually ferments, and driven by these main funds licking the edge of the knife, the market will have a short-term strong rebound."

"Look now...the market has become frightened."

"Zhezhou Dongfang, which has been built as a popular leader, collapses, and the strong rebound may not be possible."

"So..." Su Yu paused and continued to tell Li Meng, "Continue to reduce, there is no need to hesitate, the market will not reach higher heights today."