The investment era of rebirth

Chapter 462 Weak collective bidding!

"Open low, open low again!"

Faced with the turbulent market call auction, at 9:15, Qin Qiuyue, who was closely watching the changes in the market prices of the two markets in the Yuhang and Anzhao Fund's internal Selected Mixed No. 1 Product Fund Trading Room, couldn't help but frowned: "Only

About 9% of the stocks have risen. This is... too tragic, right? The news released so many positive signals last night, but it still can't even resist an external trend."

"Mr. Qin, look at this situation..." Zhou Hui, assistant to the fund manager and leader of the trading team, responded, "If the call auction continues like this, the major market indexes will probably open at least one point lower."

"If we really go like this, there is nothing we can do." Qin Qiuyue sighed softly.

"It seems that the index is really going to test the 2,000-point position." Zhou Hui said, "I didn't expect that within a month or so, the Shanghai Stock Exchange Index would return to the big box between 2000 and 2200 points."

Qin Qiuyue nodded slightly and said with emotion: "Yes, when everyone thought that the Shanghai Stock Index had broken through the big box of 2000 to 2200 points and achieved an effective breakthrough, they did not expect that it fell back again. It has been almost three years.

?The large box range of the Shanghai Stock Index from 2000 points to 2200 points is really like a powerful magnet, which forcefully attracts the index to this range. No matter how hard it breaks through, it ultimately fails."

"However, the index has been trading in this large box range for nearly three years, which is enough to fully demonstrate that this range is the extreme bottom of the market." Zhou Hui took over and said, "I think it will take until the index takes this wave.

Once the trend is over and the panic selling is gone, we should be able to add some chips again at the lower edge of the shock range from 2000 to 2100."

"Aren't you going to continue to be bearish?" Qin Qiuyue said slightly surprised.

Zhou Hui responded: "The index has reached the bottom of the shock range. Even at the current position, it is only less than 10% lower than the bottom of 2000 points. Although the market performance is still very bad, there is a high probability that the 2000 points below the index can still be

Hold on, it’s really not advisable to be too bearish here..."

"I feel that I am still not very optimistic!" Qin Qiuyue said, "The 2200 point position fell too suddenly. It can be said that there was basically no resistance, and it went straight through. The subsequent index is just 2000 points away from the bottom of the box.

There is only more than 100 points of depth space left.”

"It is difficult to say whether this deep space can fully digest the hold-up that has accumulated since around 2500 points and clear out the panic selling chips in the market."

"and……"

Qin Qiuyue paused and continued: "The market is at this position and there is no obvious shrinkage!"

"Well!" Zhou Hui responded, "Quantity is indeed an issue. It seems that we have to wait until after this wave of heavy volume for the market to shrink again, and then there may be an obvious bottom signal."

If the index continues to plummet in volume, it will bottom out at this position.

Not only Qin Qiuyue didn't believe it, but she didn't believe it either.

What's more, according to her observation, the current market does not have a "big main trend" that can guide positive changes in market investment sentiment and confidence. In other words, there are no sustained hot spots for making money. This situation... the market simply cannot attract investors.

Without incremental funds entering the market, in the face of continuous selling on the market, the existing funds on the market will not be able to absorb it, and naturally it will be difficult for the index to bottom out.

Of course, although she agrees with what Qin Qiuyue said, there is no signal that the current index has bottomed out.

But at the same time, she also believes that there is a high probability that the index can maintain the characteristics of the bottom of 2,000 points, and can digest this extreme panic selling sentiment in the subsequent depth of more than 100 points.

"Let's continue to wait patiently!" Qin Qiuyue thought for a while and said, "After we encountered setbacks in the layout of the 'military industry' line, even though we have completely reduced the fund position to a safer position, the net value of the fund is still at

In this wave of continuous market decline, the retracement is still relatively serious, which makes us lose a certain amount of trading initiative and part of our ability to resist risks. Therefore, we can only wait for clearer opportunities and make investments in the right direction. We can no longer

He rashly went to catch the 'throwing knife' from the market."

See the market performance after the holiday.

Qin Qiuyue still feels that her decision to decisively reduce her position before the holiday and desperately stop the loss of her "Military Industry" first-line holding chips is very correct and lucky. Otherwise, she would not be able to look at the current market trend calmly at this moment.

During the brief discussion between the two, the market trading time had reached 9:17.

It can be seen that after a short two-minute initial collective bidding, the market pattern of the two cities has shown a relatively clear path.

In terms of the market's main lines, various industry sectors, and concept sectors, yesterday's afternoon trading once supported the market rebound, and the main lines of 'infrastructure', 'state-owned enterprise reform', 'military industry', and 'Internet finance' performed relatively strongly, and

Its related industry sectors, the concept sector, still maintained a relatively strong state in the initial collective bidding stage today, ranking among the top gainers among all industry sectors and concept sectors in the market.

Among them, real estate, building materials, public transportation, and high-speed rail are the sectors in the "big infrastructure" fields. Stimulated by the positive news released by yesterday's news, they have entered the initial collective bidding stage of today's market. There are only a few sectors that can still survive.

Sector areas that remain in red territory.

In addition to the relatively strong "infrastructure", "state-owned enterprise reform", "military industry" and "Internet finance", there are several main lines.

The main lines of 'consumption', 'medicine', 'finance' and 'gold' in the defensive field are not that weak, and panic selling on the market is limited.

As for other main areas such as 'venture capital', 'restructuring backdoor', and 'ST sector', which were relatively weak yesterday, as well as main areas of 'growth stocks' such as 'mobile Internet', 'smartphone industry chain', or basic

The main areas of 'cyclical stocks' such as coal, non-ferrous metals, petroleum, chemicals, etc. are relatively poor and there is no expectation of speculation, or the main areas of traditional agriculture such as agriculture and animal husbandry are facing increasingly sluggish market investment sentiment and panic selling sentiment.

Below, the market performance is quite ugly, and the decline is not small.

As for the performance of the main core stocks and popular stocks in the two cities.

Core component stocks in the main areas of 'infrastructure', 'state-owned enterprise reform', 'military industry', and 'Internet finance', especially mid- and large-cap stocks with relatively abundant market liquidity, such as China Railway Construction, China Communications Construction, and China Railway Construction

China Metallurgical Corporation, Huaguo Construction, Gemdale Group, Kewan Real Estate, Poly Real Estate, Huaguo Heavy Industry, Huahang Mechanical and Electrical, Huahang Optoelectronics, Airfa Power, Huaguo Great Wall, Airfa Technology, Oriental Fortune, Hengsheng Electronics, Flush...

Many stocks performed relatively well, either opening slightly higher, or opening flat or slightly lower. The signs of panic selling on the market were not obvious compared to the entire market.

Of course, in this field, there are also stocks that have been fully abandoned by funds and have extremely weak trends.

Stocks such as Beixin Road and Bridge, Shibei High-tech, Shanghai Construction Engineering, Beijiang Communications Construction, China Fortune Land Development, Kumho Group, etc., which were overly hyped in the early stage, have opened sharply lower, and there are signs of panic selling on the market.

It's still very obvious.

A number of stocks in the weak main line sector, except for those with obvious positive support, other stocks have obviously opened sharply lower. On the market, there are very serious signs of panic selling. Among them, yesterday, at one point in the late trading, there was almost a crash.

The Shell Resources concept stock 'Cologne' opened for trading today and was immediately hit by 100,000 lots of panic selling at the early stage of the call auction, hitting the price limit. As a result, all the retail investors who rushed in to speculate yesterday were suffocated.

As for the performance of the first batch of five new stocks listed today after the IPO market reopened, which has attracted much attention.

Although the vast majority of investors in the entire market had previously stated that they would boycott IPOs, give up subscriptions for new shares, and not accept new shares, on the day of listing, the five stocks still hit the daily limit and went out of the charts.

A huge buy order of 100,000 lots sealed the market with an unlimited daily limit.

Overall, in an extremely weak market sentiment atmosphere.

Judging from the two-minute initial collective bidding performance, the preference of the main funds on and off the market is still in the direction of the main board, and stimulated by the good news released by the Xinwen Network yesterday, the two items of 'big infrastructure' and 'state-owned enterprise reform'

The main line of the market, independent of the overall market trend, is significantly stronger than the market, and it is becoming increasingly obvious.

"Crisis, crisis, danger and opportunity are all on the thin line!"

At 9:18, in the same Yuhang and Minghui Capital, in the main fund trading room, Xu Zhongji looked at the changes in the market prices of the two markets and said with emotion: "It is infinitely dangerous, but there seems to be a glimmer of opportunity."

"The opportunities that Mr. Xu refers to are 'infrastructure' and 'state-owned enterprise reform'?" asked fund manager He Hong, standing next to Xu Zhongji.

Xu Zhongji nodded slightly and responded: "What do you think?"

He Hong thought for a while and said: "I think we can look at the two lines of 'infrastructure' and 'state-owned enterprise reform' after the official opening. Although there are new positive news, the overall market is falling below 2200."

After hitting the mark, the sentiment performance and market confidence performance were really poor."

"Under such circumstances, it is quite difficult for the two main lines of 'infrastructure' and 'state-owned enterprise reform' to lead the market and create sustainable money-making opportunities!"

"You must know that these two main lines are both relatively large market main lines."

"Once the market goes out of a sustained market, the incremental funds and funds to be consumed are not small. In the current market, funds on the market are showing a comprehensive outflow. I am afraid it will be difficult to support the market acceptance of these two main lines.

, In other words...it is easy for these two lines to have a short-term rebound with the help of good news, but it is too difficult to reverse. If we pick up the 'flying knife' here, the value of participation is not great."

"Even if Mr. Xu insists on being optimistic about these two lines..."

He Hong paused and continued: "Then we have to wait for the opportunity on the right to come out, and the risk of our intervention will be significantly lower."

Xu Zhongji nodded slightly and responded: "There is nothing wrong with the logic and reason of what you said, but judging from the current market performance, if the market is destined to reverse in the future, then the two terms of 'infrastructure' and 'state-owned enterprise reform'

This line is undoubtedly the field with the strongest current expectations, the most positive news, and the most sustained hype and investment value."

"besides……"

Xu Zhongji thought for a while and continued: "The index did fall below the 2200-point support line, but at the same time, it is not far away from the 2000-point position below. From the market point of view, with the spread of panic, the trend is indeed terrifying, and there is no trace of it.

For signs of bottoming out, you can ignore the influence of emotions and conduct a rational analysis of the current market position. Whether the overall valuation or expectations, etc., have been compressed to the extreme."

"Furthermore, today's IPO restart in the market will be negative when the first batch of new shares are listed."

"I think it's basically on the ground."

"Subsequent expected changes should theoretically lead to a rebound and can be expected."

In fact, in his opinion, the current market trend, after careful analysis, is quite divided in terms of long and short positions. On the one hand, everyone knows that the Shanghai Stock Index is not far from the bottom of 2000 points, so it should not be so bearish. On the other hand, the Shanghai Stock Index has completely fallen below 2200 points.

At the same time, the external trend became worse again, which affected the market investment sentiment and continued to slide into the abyss, which in turn drove everyone to desperately sell on the market to kill the fall, and irrationally tried to be bearish.

"Then what Mr. Xu means...we can take over some infrastructure construction and the 'flying knives' in the main line of state-owned enterprise reform here?" He Hong asked after listening to Xu Zhongji's analysis.

Xu Zhongji nodded slightly and replied: "I think it is appropriate to pick up a little bit. Our fund position is not heavy at the moment. Let's pick up some chips here. Even if the market continues to fall in the future, the two lines of 'infrastructure' and 'state-owned enterprise reform'

, and still can’t come out, then it’s too late for us to decisively stop losses and change investment direction.”

"Similarly, if the market really goes beyond expectations next."

"The two lines of 'infrastructure' and 'state-owned enterprise reform' are really reversed here. Then we will have a serious shortage of positions in these two directions, and it will be very uncomfortable in the future."

"On the whole, we can bear the risk of attacking, so there is no need to hesitate too much."

"Okay!" Seeing that Xu Zhongji had already said this, He Hong retained his analysis and followed Xu Zhongji's suggestion. He quickly turned around and ordered the traders in the trading room to change their trading strategies and let everyone take on some at a low level.

In the main areas of 'infrastructure' and 'state-owned enterprise reform', there are obvious changes, and there are core component stocks that are obviously undertaken by main funds.

And as his trading order was issued...

At this time, the market trading time has quickly passed 9:20.

Although the two cities still continued the previous performance patterns of various main lines, industry sectors, and concept sectors, overall, after a large number of false pending orders were canceled between 9:19 and 9:20, the market panicked and sold.

However, it has worsened again, resulting in the two cities no longer having any industry sectors or concept sectors that remain in the red.

Immediately afterwards, at 9:21, the two cities continued to fall. 'Venture Capital', 'Reorganization Backdoor', 'ST Sector' and other mainline concept sectors that had been relatively completely abandoned by the main market funds opened lower by more than 2%.

, and in the direction of the small and medium-sized board, GEM, the first-line industry sectors of 'growth stocks', concept sectors, such as 'Apple Concept', 'Internet Software', 'Internet Application' and other sector index declines have also exceeded 1.5%.

At 9:22, the 'ST sector' once again exceeded the limit of 7 stocks, and there was a wave of limit drops.

At 9:23, the panic selling sentiment is still continuing. Active funds on and off the market are further moving towards defensive sectors such as 'consumption', 'medicine', and 'finance', as well as the obvious positive stimulus from last night's news.

Gathering in the fields of 'big infrastructure' and 'state-owned enterprise reform'.

At 9:24, under the huge selling pressure of the entire market, the overall pattern of the two cities continued to decline. Even the two cities that led the gains, ranked first in the conceptual sector and industry sector in the two cities, were 'Architectural Decoration' and 'High-Speed ​​Rail'.

The decline in the major sector index also expanded to less than 0.5%.

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

The Shanghai Index was set at 2162.79 points, a drop of 1.26%. Among them, the Shenzhen Index and the ChiNext Index fell by 1.59% and 1.71% respectively. In terms of the overall opening performance of the index, the two cities were still strong in Shanghai and weak in Shenzhen.

According to the pattern, mid- and large-cap stocks with relatively good liquidity have not fallen much, and small-cap concept stocks with relatively lack of liquidity, especially have neither expected performance support nor good concept stories to tell, and are not in line with the market's popular main lines.

The so-called "three noes" small-cap stocks on the sidelines suffered particularly fierce declines.

(End of chapter)