The investment era of rebirth

When the Shanghai Stock Index breaks through like a rainbow.

Similarly, the Shenzhen Stock Exchange Index and the ChiNext Index also rebounded sharply today, closing higher by more than 2%.

Moreover, the two cities' total transaction volume was 93.2 billion, approaching the 100 billion mark. All industry sectors in the market fell. Among them, the core industry sectors in the infrastructure field such as 'building decoration, building materials, steel, and real estate', which led the gains, increased by more than 100 billion.

Above 5%, individual stocks within the sector have also set off a trend of daily limit.

In terms of concept sectors, the concepts of ‘state-owned enterprise reform’ and ‘Shanghai Free Trade Zone’ led the gains.

The two major concept sector indexes both rose by more than 4%, among which the 'state-owned enterprise reform' concept sector rose by 4.78%. More than 11 stocks in the sector had their daily limits closed, and more than 15 stocks hit their daily limits during the session.

In addition to strong performance indexes, industry sectors, and concept sectors.

As for the popular stocks in the two cities, the money-making effect has also soared. Compared with yesterday, and even during the previous trading period, the volumes have increased significantly.

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Among them, the popular stocks in the main direction of "infrastructure".

MCC, China Railway, Bayi Steel, China Fortune Land Development, and Kumho Group achieved two consecutive daily limit increases in both volume and price; Conch Cement, Shanghai Construction Engineering, Pudong Construction, Shibei High-tech, Waigaoqiao, and High-tech Development

A number of stocks were heavily scrambled by major funds, and their daily limits were sealed at the close of trading; Huaguo Construction, Huaguo Communications Construction, Huaguo Railway Construction, Huaguo Baosteel, Wuhan Iron and Steel Co., Ltd., China South Locomotive and Rolling Stock Locomotive, China North Locomotive and Rolling Stock Corporation, etc.

A number of blue-chip large-cap stocks have increased by more than 5%, and their trading volume has exceeded 100 million. The trading volume on the market is active and the volume has increased significantly, showing an extremely strong state.

Popular stocks in the main direction of the concept of 'state-owned enterprise reform'.

Stocks that are strongly related to the main line of "infrastructure" and whose company's business is in the "infrastructure" field, as well as stocks with the same concept of "Shanghai Free Trade Zone", have been attacked by powerful funds, such as Beixin

Luqiao, Shanghai Sanmao, Wanqi Enterprises, Shanghai Steel Federation, Huagong International and other stocks all have large orders that have sealed their daily limits, and the strong status can be seen at a glance.

Of course, with the two core themes of 'infrastructure' and 'state-owned enterprise reform' being frantically pursued by major funds and massive increases in positions, the two major early stages of 'mobile Internet' and 'smartphone industry chain' in the direction of the small and medium-sized board and GEM are

A number of "hot growth stocks" in the main field have passively risen a lot today due to the collective recovery in market sentiment and the effect of funds following the trend. However, judging from the overall market outlook of many popular stocks, they are still in a weak state.

Among them, especially the major areas of ‘media, mobile games, and Apple industry chain’.

Related core popular stocks, such as LeTV, Huayi Brothers, Changqu Technology, Hua Qingbao, Goertek, Lexun Precision, Xinwei Communications, etc., have all lagged far behind the major indexes in terms of growth, and have barely rebounded.

With an increase of about 1%, and the overall trading situation, with the year-on-year increase in transaction volume, large funds have completely shown a net outflow.

Therefore, it seems that the two cities have a comprehensive surge and a strong rebound.

In fact, the strong and weak styles are still very distinct.

Judging from the closing results, the active funds in the two cities, as well as the incremental OTC funds that follow the trend, whether large funds or small funds, the main direction of convergence and pursuit of fields is to have a sustained profit-making effect. In terms of future investment logic,

It has two core themes of 'infrastructure' and 'state-owned enterprise reform' that can reverse expectations.

As for the small and medium-sized board and the GEM, which were hyped by various funds last year with slogans such as 'new economy, new future' and 'growth alternative value', the two core main areas of GEM are 'mobile Internet' and 'smartphone industry chain'.

, but currently there are obvious signs of being abandoned by the main market funds and obviously weaker than the market.

Faced with the closing results of the two cities...

All investors in the two cities, whether they are retail investors, hot money groups, or institutional groups, are extremely excited and even excited.

After all, this is the first time this year that the Shanghai Stock Exchange Index has posted a 3% increase.

This is also the first time that the Shanghai Stock Index has stood on the 20-day line with a strong positive trend, showing a clear rebound trend.

Similarly, this is also the first time this year that the transaction volume of the two cities has reached the 90 billion mark, approaching the transaction volume last year when the market fell from its high level.

"Haha, with Big A's trend today, I am finally feeling proud!"

In the rare atmosphere of making money when the market surges, some people on the online stock discussion forum expressed excitement.

"With two consecutive days of heavy volume and strong positive lines, the market has definitely bottomed out, and... today's market wash is really awesome. I don't know how many unsteady investors have been washed away."

"Hey, I was wiped out, but I saw that the trend was wrong in the late trading, and I recovered my position at a high level!"

"That wave of diving half an hour into the morning session was really scary."

"Looking at it now, that dive is simply the best buy of the whole day!"

"Looking after the market close, that wave of diving was naturally the best buying point of the day, but at the time... who would have thought? I was scared to death at the time, but at least I held it back and didn't sell the position I chased yesterday. Otherwise, today

I’m afraid I’ll be mad to death.”

“They all say that holding shares requires faith!”

"The areas that 'Fortune Road' focuses on are generally right."

"Yes, if you are afraid of following Mr. Su's seat operation, then it is better to stop speculating in stocks as soon as possible."

"Two consecutive big positive lines have broken through. This round, the Shanghai Stock Index cannot reach 2,200 points. Is it simply impossible?"

"I haven't said anything yet, the pressure level of 2200 points will definitely be broken this round!"

"If the Shanghai Stock Exchange Index breaks through 2,200 points, even if it breaks through the large shock range from 2,000 to 2,200 points again, then... I am afraid that the follow-up space will be opened."

"I feel that there should be no problem at 2200 points. However, whether more space can really be opened up in the future, I feel that it still depends on the continuity of the two core main lines of 'infrastructure' and 'state-owned enterprise reform'. If the main funds are determined

Gao Yuan can really use these two main lines to open up market space. The high point of the Shanghai Stock Index last year, which is 2,500 points, can probably be seen. After all, the two core main lines of 'infrastructure' and 'state-owned enterprise reform' are closely related to

The correlation between blue chips is too strong, and blue chip riots can increase the index very quickly!"

"If it can really reach 2,500 points, the space will be huge."

"Indeed, when the Shanghai Stock Exchange Index reaches 2,500 points, the two core themes of 'infrastructure' and 'state-owned enterprise reform', the hot stocks, will at least double their prices, right?"

"I'm afraid it won't stop. I feel that these two core main lines will definitely lead to more than one monster stock."

"Beixin Luqiao, Shibei High-tech, Waigaoqiao, and Shanghai Sanmao, these checks definitely have the potential to be monster stocks, especially Beixin Road and Bridge. This check is the only one-word daily limit stock in the market today, and this check

There have been quite a few changes of hands on the daily limit board today, so there should be no surprises on the third board tomorrow."

"But judging from the emotional impact of individual stocks on the market today, it is obvious that Shibei Hi-tech, China Railway, and Huaguo MCC are the backbone of the market sentiment. Of course, Waigaoqiao is not bad either, and Shanghai Sanmao

, more like the leading stock in the direction of the 'Shanghai Free Trade Zone' after emotions diverge."

"The leading positions of the two main lines of China Railway and China Metallurgical Corporation are naturally beyond doubt."

"As for Shibei High-tech, the trend today is indeed very strong, and the popularity and popularity are indeed very high, but I think Beixin Road and Bridge has a greater chance. After all, there is the blessing of Mr. Su's 'Fusheng Road' seat, and Beixin Road and Bridge's plate ratio

Qi Shibei High-tech Zone is obviously smaller."

"The specific potential depends on today's Dragon and Tiger ranking data, right?"

"Yes, demon stocks are created after the combined efforts of market funds and are not predicted in advance."

"No matter which one it is, the follow-up market trends, the two core main lines of 'infrastructure' and 'state-owned enterprise reform', should be the most certain."

"There is no doubt about this! Today, the main directions for big funds to increase their positions are these two main areas."

"So the two core main lines of 'mobile internet' and 'smartphone industry chain' in the direction of the small and medium-sized board and the GEM, and even growth stocks, have no chance? Let me go... what institutions yelled before"

What's the logic of market growth? Why does the style change now?"

"Looking at today's trading volume, the increase in Shanghai stock market trading volume is significantly greater than that of the Shenzhen Stock Exchange Index and the GEM Index. I feel that the two early core main lines of 'mobile Internet' and 'smartphone industry chain' in the direction of the small and medium-sized board and the GEM are even '

Growth stock logic, this main line of investment, really has no opportunities for the time being."

“In a bear market, you have to work in areas with the strongest capital concentration in order to make a little money.”

"The Shanghai Main Board has been stronger than the Small and Medium-sized Board and GEM for many consecutive trading days. I think this is an obvious signal of style change."

"Today, a number of stocks such as LeTV, Huayi Brothers, Changqu Technology, and Oriental Fortune are indeed significantly weaker than the market, no matter from the perspective of capital flow on the market, trading volume, or increase. It feels obvious.

If you have been abandoned by the main market funds, you should try to avoid this field, right?"

“A bull stock that has gone out of style is not as good as a dog!”

"The two major directions of the small and medium-sized board, GEM, 'mobile Internet', and 'smartphone industry chain' were heavily speculated by various main funds last year. They have continued to plummet this year. I don't know how much bottom-hunting and high-level funds have been buried.

, these are endless bargaining chips. In addition, the performance of these core popular stocks is based on the high growth rate last year. In the first quarter report of this year, the performance growth rate has obviously dropped a lot, which is not enough to support the excessive growth rate.

The valuation has increased, and the main funds in the market, faced with this situation, are naturally reluctant to pull up.”

"Yes, comparing the two, the opportunity of the motherboard is actually highlighted."

"At the beginning of the year, the market's main funds have not speculated on the small and medium-sized boards, and the two main directions of 'mobile Internet' and 'smartphone industry chain' in the GEM direction. However... everyone has seen the result, and expectations have been overdrawn.

The room for performance imagination is also declining. Coupled with the heavy hold-up, continuing to speculate in this direction will not drive market sentiment at all, nor can it gather money-making effects. Moreover, the market has not seen any new benefits in this regard recently. "

"The listing of Ali Baba should provide certain positive support for the two main lines of 'mobile Internet' and 'smartphone industry chain'. However, this will have to wait until the news is released, and the market will probably not show it. Now we are involved..."

It’s still a little too early.”

"There is no need to analyze too much logic. In short, wherever Mr. Su's 'road to wealth' goes, we can just speculate accordingly. No matter how much analysis we do, our understanding of the market will not be better than that of large asset managers gathered by long market analysts."

Institutions are smarter. As long as they see where big funds continue to gather, they can probably judge where the market may be."

"Yes, yes, just follow the 'Fortune Road' to speculate. You really don't have to think so much."

"One analysis is as powerful as a tiger, one glance at the operation is two hundred and fifty, think about it carefully...it is really useless to analyze so much!"

As time goes by, after the closing results are released, investors in the entire market are having heated discussions. Everyone has increasingly clear views on the market outlook, and at the same time they are becoming more and more confident.

"In this market, it is not uncommon for one big positive line to change the long and short view, and two big positive lines to change the belief." When the majority of investors in the market were reviewing the trading after the market and having heated discussions, Yan Yan

Liao Guanghua, general manager of the proprietary investment department of Huashang Securities in Beijing, briefly browsed the hot topics related to stocks on the Internet and said with emotion, "The market sentiment is picking up much faster than imagined!"

Standing next to Liao Guanghua, Zhang Guangnian, chief analyst of Huashang Securities Market, responded with a smile: "What does this prove? It proves that what the market is currently lacking is not good news, funds, performance, expectations and the like, but confidence and making money."

Effect, as long as there is confidence and money-making effect, the market will naturally follow. This is...a moment when confidence is more valuable than gold!"

"As for market sentiment picking up quickly..."

Zhang Guangnian smiled and continued: "Old Liao, don't forget, the domestic financial trading market is a trading market dominated by retail investors. As long as there is a sustained money-making effect, the demonstration effect of this market will naturally be great.

, then the emotional fluctuations will naturally be much more severe than those in other mature markets."

"Yes!" Liao Guanghua pondered for a moment, nodded, and said, "Compared with controlling the emotional context of the market and even exploring the main themes, hot money and many powerful private equity fund managers are far more powerful than those within our system.

Many institutions are much more sensitive."

"For example, just like the 'infrastructure' and 'state-owned enterprise reform' main threads broke out in the past two days."

"Before, everyone was not aware that there were opportunities for investment and even concept hype in these two areas, but no one dared to touch these two lines."

"At this moment, everyone came to their senses and realized that there were no cheap chips left."

“I have to say that Mr. Su from ‘Yuhang Investment’ is really a master at digging into the market’s main trends and even stimulating market sentiment.”

“And its operating styles are diverse and not stuck in the quagmire at all.”

"I used to think that Mr. Su's successful operation, and even the biggest source of profit earned after entering the market, basically all came from the hype of small and medium-sized board, GEM concept stocks, from the market's 'growth stock' path

outbreak, and the 'growth investment logic' is recognized by many investment institutions, so... the perception of the so-called 'value investment' in the blue-chip direction of the main board will not be so keen."

"I didn't expect that this person... was completely unfettered by 'path dependence' in investment thinking."

"In an instant, I boldly switched my style to blue-chip motherboards."

"Mr. Su of 'Yuhang Investment' is indeed an anomaly." In response to Liao Guanghua's emotion, Zhang Guangnian responded, "But there is only one person in the whole market. Lao Liao, you said, 'Compared with the market's

The control of emotional context, and even the exploration of main themes, hot money and many powerful private equity fund managers are far more sensitive than many institutions within our system. This statement is still biased, and it somewhat boosts the ambitions of others and destroys one's own prestige.

!”

"It's not impressive." Liao Guanghua smiled, "The market's unilateral downward trend from the end of last year to the first quarter of this year, although there are macro reasons, is not the same as the major institutions in our system.

In order to protect the net value of fund products from a serious retracement, they trample on each other, which is actually inseparable."

"Well!" Zhang Guangnian nodded slightly and said, "It has something to do with this..., but it is also something beyond reproach. Public funds do not have a completely closed period. The majority of fund investors continue to lose money as their net worth drops.

To redeem product shares, fund managers can’t do it even if they don’t sell them.”

"Fortunately, the darkest time is over."

Zhang Guangnian paused and continued: "As long as the market can maintain this trend and emotional momentum, the decline in the market's fund scale will definitely be reversed, and when the entire industry's asset management scale returns to the rapid growth path,

The incremental funds invested in the stock market will continue to flow, and the market will naturally continue to flow."

"So, you are quite optimistic about the market outlook, right?" Liao Guanghua asked with a smile.

Zhang Guangnian replied: "The market is around 2100 points, so I have to be optimistic. Moreover, after the index quickly pierced 2000 points twice, it rebounded quickly. This proves that the Shanghai Index near 2000 points is the extreme bottom area of ​​the market. In the market

The valuation elasticity has been compressed to the limit, and there is indeed no room for it to fall further."

"Mainly speaking, the economic growth rate on the macro level is still rising."

"Looking at the relevant economic data in the first quarter, we can clearly feel that domestic inflation has returned to the normal range, which gives the central bank a more generous scope for implementing monetary policy."

"The macro economy continues to grow, inflation is falling, and monetary policy is expected to be loose..."

"On the one hand, these will lead to the general continued upward growth in the performance of various companies. On the other hand, they will lead to further increases in funds flowing into the stock market in anticipation of possible loosening of monetary policy."

"The general growth in the performance of listed companies, even if the valuation remains unchanged, will in disguise raise the market index. Coupled with the further inflow of over-the-counter funds, it will be difficult for the market to remember the market, so...what else?

The truth is that at this range, should we continue to be bearish?”

"It's just that although I judge that the market is at this position, it is unlikely to fall."

“But I didn’t expect that the main line of gains would be the ‘infrastructure’ sector.”

"Haha, heroes have similar opinions!" Liao Guanghua laughed after listening to Zhang Guangnian's analysis, "It seems that we should make a slight adjustment in our trading strategy, transitioning from the conservative stage to the aggressive stage."

"The aggressive stage?" Zhang Guangnian heard Liao Guanghua's thoughts, pondered for a moment, and said, "Currently there are only opportunities on the left, and the opportunities on the right are not yet clear. I think it is okay to increase positions appropriately, but there is no need to directly transition to the 'aggressive stage'

'Is it so fast? After all, from the technical perspective and the chip structure analysis, the index is under huge pressure near 2200 points, and the hold-up position at 2200 points is also quite heavy. The market volume cannot reach 100 billion.

, I’m afraid it will be extremely difficult to cross over safely.”

Liao Guanghua responded: "When the opportunity comes to the right, I am afraid that many high-quality chips in the core main line are already high. Although the index has huge pressure at 2200 points, as the core main line leading the market, 'Infrastructure

', but in the field of 'state-owned enterprise reform', space has obviously been opened up, and the trend of the market index is half way ahead of the trend. It is estimated that with the funds and emotions following the trend have been fully mobilized, the probability of falling back is low. "

"Okay!" Zhang Guangnian thought for a while and nodded, "You are the director of the self-operated investment department. Naturally, you have the final say. I am just expressing my own market views."

Liao Guanghua nodded and continued to ask: "Lao Zhang, in addition to the two main lines of 'infrastructure' and 'state-owned enterprise reform' that are currently breaking out, what other fields do you think have obvious differences in future expectations?

Possible room for double improvement in performance and valuation?”

"According to industry research..." Zhang Guangnian said, "It is still the small and medium-sized board. The GEM's 'many emerging industries, small-cap core growth stocks' have a faster performance growth rate, and they also have enough room for industry imagination. That is the current market situation."

I’m not convinced about this area. Many funds have tried and tried, but they can’t speculate. However, I carefully thought about this field for a while, and found that what restricted its speculation space was that it was over-speculated last year and had too many expectations.

There is too much space, and there are too many locked plates at the same time, which requires more time to digest.”

Liao Guanghua said: "What you mean is that the main line of the subsequent market may also return to the logic line of 'growth stocks' led by the small and medium-sized boards and the GEM?"

"It should be so!" Zhang Guangnian said, "After all, no matter what kind of investment method it is, the final goal is expected and performance growth."

"Okay, I understand!" Liao Guanghua nodded.

Then, after thinking for a moment, he walked to the office area of ​​the proprietary investment department, preparing to convene a meeting with department heads and product managers to discuss trading strategies.

And with the internal trading strategy discussion meeting of Huashang Securities.

Market time began to pass at 5:30 pm, and the new dragon and tiger list was announced.

I saw a total of 23 stocks on the list today. Among them, China Railway, Kumho Group, and Beixin Road and Bridge continue to be on the list, while Huaguo MCC, Shibei High-tech, Waigaoqiao, Shanghai Sanmao, and Shanghai Steel Union

, China Fortune Land Development, Bayi Steel and other votes appear on this year’s Dragon and Tiger list for the first time.