The investment era of rebirth

Chapter 443 Dazzling market rotation!

As for other main line concept sections...

The two major oversold and unpopular sectors, 'Coal' and 'Nonferrous Metals', which led the gains, performed very strongly this morning. At the close of the afternoon, their gains exceeded 1.5%, becoming the main force supporting the market; 'Military Industry' and 'Pharmaceuticals' ', 'Consumption', 'Petrochemicals' and other main areas basically follow the market fluctuations. Occasionally, major funds participate in undertaking, but the overall trend is not strong, which can be said to be generally good.

The three popular themes of ‘infrastructure’, ‘state-owned enterprise reform’ and ‘internet finance’ once led the market yesterday.

Today, it has fallen into an adjustment trend again. The market performance in the morning showed a trend that was obviously weaker than the broader market, making the investor group who took on these major lines yesterday once again look disappointed.

Of course, the market index has the highest weighting attribute. In the past few days, it also led the rise in the main line area of ​​'big finance'.

Today's performance was also relatively sluggish. Regardless of the securities, insurance or banking sectors, they all significantly underperformed the Shanghai Stock Exchange Index. Even among the three, the securities sector, which was relatively resilient, even fell sharply near midday, knocking the sector down. The index fell from a slight decline of 0.2% to 0.3%, and then fell to a decline of 0.56%.

Faced with such a midday closing situation, the majority of investors in the market are relatively disappointed.

After all, the external market has such a good trend, and at the same time, stimulated by the good news of "Shanghai-Hong Kong Stock Connect", the index only rose slightly, and the hot spots in the entire market rotated very fast, and there was no sustained profit-making effect for hot sectors that lasted for more than two days. Participation, this trend... can be said to be seriously lower than the expectations of the majority of investors in the market.

Of course, for some investors who are lurking in the "non-ferrous" and "coal" fields in advance.

After they reaped the market dividends in the morning, they were still very excited and happy.

"Because the market rotates too fast, it is impossible to catch, predict, and predict."

"It also proves that apart from this specious hot spot in the market, other major market lines are more difficult to speculate on."

He Hong thought for a while and said: "It is not just the negative pressure caused by the IPO restart. The market can be so weak. I think the main reason is that the market tone was too high in the early stage. Everyone's expectations were raised too high, and supervision He changed his attitude too quickly, which led to the collapse of his confidence, and finally he became what he is now."

"The market is losing money. Recently, no matter what I do, the only result is losing money."

"It is impossible to predict, difficult to catch, and the catch is not sustainable, which will greatly dampen the market's hype mood."

"Then the main funds participating in market speculation will definitely take advantage of this expectation to carry out a new round of front-running. After half a day of rising prices, they will most likely start to sell off and reap the rewards."

"When?" Xu Zhongji asked.

"Hey, in fact, the core hype hot spot of 'oversold rebound' is the worst hype hot spot in the market."

But no one knows how long this kind of excitement and happiness will last. After all, according to the previous market performance, no matter how hot the performance of the hot sectors that led the rise that day was, in the end it was just a one-day market trend.

"As for the market situation of the 'half-day tour', tell me how to do it? Speaking of making the check for 'Pingmei Energy' today, there is no problem from any angle, but I never expected... Such a hard board in the morning, in the afternoon It was smashed just after the market opened. The funds lurking inside this check are simply sick, right?"

"Yes!" He Hong responded, "In fact, the biggest difficulty in the current market is here. The main funds that have been active in the market recently have tried to do this with the cooperation of various market news and various policy incentives.

There are many directions, but none of them have been successful."

"Damn it, it's poisonous! Are you starting to dive now?"

"Yeah!" He Hong nodded, "If we can't find the direction, we have to wait."

"It's difficult!" He Hong smiled bitterly and said, "I have studied several directions, but I don't think they are right."

"Does it feel like all the funds on the market are just being speculated?"

"To be honest, the main funds in the market choose this direction to trade."

"The market at this time..."

And as the two finally decided to reduce their positions according to the original plan, watch the market coldly, and not participate in any rebound in the market at this moment, the last three minutes passed in a blink of an eye, and the market ushered in continuous bidding transactions again.

Xu Zhongji paused and continued: "In this round of adjustment, the Shanghai Stock Exchange Index has fallen all the way from around 2,500 points. To this point range, it has dropped by almost 10%. It has even made an obviously effective and sustained rebound.

There is no market trend at all, which is in stark contrast to the trend at the beginning of the month and the previous month. Even if the market is suppressed by the negative effects of the IPO restart, logically, it should not be so weak."

At 12:35 noon, Yuhang Minghui Capital, inside the main fund trading room, had finished eating and returned to the trading room. After completing a brief review, He Hong said helplessly: "'Colorful'

, 'coal', the two major hot spots in today's market, may have performed well in the morning, but their sustainability is still questionable, and once market expectations are formed, who knows... the market will plunge in the afternoon."

"Because the market hot spots and stocks that meet the requirements of 'oversold rebound' are poor in terms of fundamentals, news, sentiment, and capital. The logic of continuous speculation is lacking, and naturally the expectations are not high. Just relying on this alone

A single line cannot drive the market upward at all.”

"In the financial trading market, confidence has always been more valuable than gold."

"It's strange to say..."

"The current market that revolves around the 'oversold rebound' can also be said to be a 'one-day tour' market. If it continues like this, it is estimated that it will only be a 'half-day tour' market."

He Hong responded: "Finance, the 'electronic consumption' field that was hyped last year, and the 'infrastructure' and 'state-owned enterprise reform' fields that are still in the adjustment stage."

The market index, which was originally trending quite well, began to fail to hold up. The Shanghai Stock Exchange Index dropped from an increase of nearly 0.5% to near the opening point.

"It cannot be said that there is no sustainability at all." After He Hong's death, the company's general manager Xu Zhongji responded, "No matter the main lines of 'infrastructure', 'state-owned enterprise reform', and 'Internet finance' were shown yesterday, or the 'military industry' shown the day before

, the main line of 'big finance', or today's main lines of 'coal', 'non-ferrous metals' and 'petrochemicals', in fact, in essence, they all revolve around an 'oversold rebound' market, but the differences between each main line and each sector

The market moves too fast, making people feel dizzy and unable to grasp the key points.”

"Okay!" Xu Zhongji responded.

"Hey, it's really weak. I originally thought that the rebound of 'coal' and 'non-ferrous metals' would be able to survive today, but I didn't expect... the harvest started in half a day."

"That's why people can't understand it!" Xu Zhongji said.

"but……"

"To create another grand main line of market conditions like 'infrastructure' and 'state-owned enterprise reform' in April and May, and then gather the market's continuous profit-making effect, thereby reversing the market's investment sentiment and investment confidence, it is really incomparable."

It’s difficult, I can’t find the direction at all.”

"I have to say that the current market situation is really difficult!"

"It's just the emotional side, it's hard to solve!"

He also feels that the current market rebound trend is very weak and has poor sustainability, and there is a high probability that the market adjustment will not end.

"What directions have you studied?" Xu Zhongji asked.

Xu Zhongji nodded slightly and said: "We have found the crux of the market problem. The key is...how to solve this crux and make a reasonable trading strategy in advance, so as to seize the market opportunity."

He Hong thought about it carefully and then said: "On the surface, the market is quite pessimistic, but in fact, both the macroeconomic aspect of policies and the financial aspect have actually improved significantly. The market situation from April to early May has improved significantly."

As for the market trend, it is obvious that the amount of market capital is being stimulated much faster and more violently than before, and even if the current trend is very bad and the market continues to fall, the amount of energy has remained above the 100 billion mark."

"You are right!" Xu Zhongji responded, "Fortunately, yesterday we did not increase our positions on a large scale in terms of chips related to the two main lines of 'infrastructure' and 'state-owned enterprise reform', otherwise we would have been very passive today."

"It is true that the recent market hot spots have been centered around the 'oversold rebound'." He Hong said, "But just like Mr. Xu said, the market prices of each main line and each sector rotate too fast, which is dizzying.

, completely unable to grasp the key point, and this... is actually the biggest problem."

"This is a stupid way." Xu Zhongji said, "I'm thinking, if I were Mr. Su who invested in Yuhang, what would I do now?"

"Hey, this rebounding market still doesn't feel like it has much sustainability!"

"At this stage, if we can truly solve the problem of a serious lack of investment confidence in the market, then all problems will be solved."

"The so-called market confidence basically fluctuates with the market's continued money-making effect." Xu Zhongji said, "As long as there is a money-making effect, market investment confidence will naturally and slowly recover. If you want a sustained market money-making effect,

In my opinion... we still have to cooperate with the news, policies, and fundamentals of a certain direction of the market to achieve the expected effect of a wave of mainline market trends!"

Immediately afterwards, he turned his attention back to the trading boards of the two cities.

"After the first wave of major funds involved in speculation, it was not unanimously recognized by the majority of investors in the market. It was unable to speculate on the relay market, unable to open up the space for mid-market markets, and naturally it was unable to achieve sustained profit-making effects."

He Hong responded: "Let's wait until the market's 'half-day tour' market can no longer sustain and all market main lines enter the underestimation water level. Currently, there is no main market line that can lead the market to break through, so we can only wait for the market to move."

It reaches an extreme, the moment when the valuation spring and the emotional spring tighten again.”

"Of course, this also shows that the current market adjustment is not over at all. The emotional and financial aspects have not recovered at all, and they cannot support the sustained market speculation of the main line."

Seeing that the market, under the relatively hot mood at noon, not only failed to continue its upward trend, but immediately plunged back down after the opening. Su Yu's main group of Yuhang hot money participated in the "coal" and "non-ferrous" hot spots in the morning.

They couldn't help but complain about the hot money speculation.

"Okay!" Xu Zhongji glanced at the time that had reached 12:57 and responded again.

He Hong thought for a while and said: "Since we predict that the market adjustment will not end, my suggestion is to continue to reduce, at least reduce the fund position to the true defensive range of 30% to 40%, leaving close to 70%

The amount of cash is truly safe, and it can also prepare us for subsequent immediate opening of positions.”

"Because once the market expectations of a 'one-day trip' are formed in the minds of the majority of investors in the market."

"The plan to increase positions, given the market performance like this, naturally needs to be shelved." After a pause, Xu Zhongji continued, "The key is... should we continue to reduce positions?"

At the same time, the two major market hot spots of ‘non-ferrous metals’ and ‘coal’ have plunged.

"Mr. Xu, my suggestion... is to wait a little longer." He Hong pondered for a while before saying, "The current asset management scale of the 'Yuhang Department' is already quite large, and what they use is still

It is difficult for an ordinary brokerage business department to hide its tracks with tens of billions of capital in and out in a market with a daily turnover of only 100 billion. Our asset management scale is at least an order of magnitude smaller than theirs. Since we currently take

If you don’t know the direction, you can wait for the other party’s fox tail to show up before following suit, or it’s not too late to make a reference transaction.”

"What the hell? 'Venture Capital' is on the rise?"

"In my opinion, it is a helpless move."

"Hey, it seems like it's time to take a rest. Damn it, this crazy market and the speed of rotation are really dizzying and I can't even understand it."

He Hong thought for a while and said: "Judging from the deeds on the dragon and tiger lists of the two cities, the positions of the main fund managed by Mr. Su should have been reduced a lot, but judging from his eagerness to establish a third fund

Look, he seems to have some obvious expectations for the market."

"Moreover, even if there are excellent fundamentals, the news is also consistent with the main line areas."

Xu Zhongji frowned slightly and said: "These lines have been verified by the market recently. At present, there are indeed no obvious opportunities."

"It's too difficult. I really shouldn't have accepted it this morning."

As soon as the market opened, the two major industry sector indexes of 'non-ferrous metals' and 'coal', which had been favored by active main funds in the market in the morning, experienced rapid plunges. The relevant core component stocks within the sectors also suffered a relatively heavy blow in an instant.

Concentrated huge amounts of heavy selling.

"No matter how these funds are speculated, there are two words, it will be over if you don't follow. At this time... a short position is better than anything else."

"It's true that in the past two weeks, short positions have outperformed 98% of investors in the market."

When the news in the group was refreshing rapidly, and many hot money tycoons in the group were complaining...

However, in just a few minutes, the market hot spots have changed again. As the indexes of the two popular sectors of 'non-ferrous metals' and 'coal' gradually fell, the concept sector of 'venture capital' and its related industry sectors

, began to rise rapidly again, and instantly reached the top of the growth list of the two cities!

(End of chapter)