The investment era of rebirth

"Hey, the net value of our fund has fallen a lot in the past two days!"

In the continuous fierce trading in the market, around 11:05, within the main fund trading room of Yuhang and Yuhang Investment Company, they have been observing the market trend and guiding the members of their trading team to use small positions.

Wang Can, who was doing T during the day, saw that 'Huaxin Securities', a securities-heavy stock with big eyebrows and big eyes, had fallen close to 4% during the day. He couldn't help but sigh softly and said: "In the past two days, the market conditions have changed, and the main theme has changed.

The stocks that have fallen are all the constituent stocks that our fund products hold heavy positions in, and it’s really something wrong.”

"What's so bad?" Next to Wang Can, fund trading manager Zhao Lijun responded with a smile, "Adjustments in the bull market stage are normal. Strong stocks make up for their losses, and weak stocks make up for their gains, thus causing the overall valuation levels of the two cities to rise.

Once again a more stable equilibrium situation has been reached.

At the same time, it also creates opportunities for the next major rise in the market. Isn't this normal?

Even if it's a bull market.

No matter how strong a stock is, it can't keep rising every day, right? A tree can't rise to the sky either.

Besides, these heavyweight stocks are different from concept stocks such as Huake Sugon, Bluestone Heavy Equipment, and Shanghai Steel Union, which can continue to be speculated solely on emotion.

There is no sustained positive support and no substantial fundamental change to impress.

There are no increasingly clear expectations of a performance explosion.

It is still very difficult for these heavyweight stocks to continue to open up space.

Besides, we should not allow weak stocks and low-level mainline stocks to fill in the recent valuations. In the market, the valuation gap between strong high-level mainline stocks and low-level mainline stocks is too wide.

, strong mainline stocks will not go far.”

"That's the truth." Wang Can said, "But looking at the millions or tens of millions of profit retracements in the stock holding account every day, I still feel uncomfortable. It feels even worse than losing money in my own account.

"

Zhao Lijun chuckled and said: "This shows that you already have a sufficient sense of responsibility and have the psychological quality and conditions to become a fund manager."

"I believe you." Wang Can heard his ridicule and responded, "I still know how many pounds I have. If you really ask me to manage fund products, it will definitely not work. I think it is a deal.

The team leader is very good, but sometimes his hands are itchy and he always wants to sell when he makes money."

At the current stage, their fund’s main positions are on ‘big finance’ and ‘big infrastructure’.

Its profits are already very generous.

If Su Yu hadn't formulated a basic trading strategy that didn't allow every major fund product and lowered the dynamic position level, Wang Can might have sold off the "Big Finance" and "Big Infrastructure" mainline holdings in the special sale account.

"Old Zhao, you said we won't do T for the time being, shift our positions, and buy some mainline 'big consumer' stocks that are currently trending hot. What do you think?" After a pause, Wang Can said again, "You just said

As I said, in the bull market adjustment, strong stocks make up for losses, and weak stocks make up for gains. In that case...why not make money if you have money?"

When Zhao Lijun heard Wang Can's words, he briefly moved his eyes away from the fierce trading between the two cities, glared at him fiercely, and said: "Wang Can, I advise you not to think like this, and you also know the trading rules.

, this is not a question of why we don’t make money if we have money, but the position adjustment you mentioned has deviated from our main investment direction.”

"The boss just told us not to lower the dynamic position level. He didn't say that position adjustment between individual stocks is not allowed." Wang Can responded, "Just tell me why not?"

Although he has this intention.

However, without the consent and instruction of Zhao Lijun, the fund trading manager, he would definitely not move his position and trade according to his own ideas.

Zhao Lijun responded: “Do you know the trade-offs between opportunities in transactions?

We are not retail investors. We cannot chase the rise and fall, and move and switch quickly. If you go to chase the hot spots, what if you turn around and the main line of 'big finance' and 'big infrastructure' rises again? Could it be that at that time...you were quick again?

Cut off the flesh and bring it back?

And we trade in the market.

It is still necessary to have a clear idea of ​​what is the core main line and what main line has the logic of sustained expectations in the medium and long term.

The boss asked us to maintain dynamic positions on the main lines of 'Big Finance' and 'Big Infrastructure'. We are not allowed to reduce the position. We can only do T with small positions to slowly further reduce costs and earn appropriate excess profits within the market day, while continuing

Train traders' trading sense.

This is a securities investment strategy formulated after careful consideration.

In the development of market conditions, there is always a market pattern of 'the strong always get stronger and the weak always get weaker', even in a bull market, there will be no exception.

If you look at the line of "big consumption" right now, it's rising rapidly.

But you must know that under the current overall market investment logic and future expectations, the line of "big consumption" is not yet the core market line of the market.

In other words, this main line is just the need to make up for the increase.

Rather than a stock price reversal caused by various factors such as changes in its fundamentals, changes in future expectations, and potential for performance explosions.

That is to say, this line, currently, only has the power of a short-term rebound, and its stock price's mid- to long-term upside potential is currently not as good as the main lines of 'big finance' and 'big infrastructure'.

In market investment, is it possible to abandon high-quality chips with cost advantages and pursue inferior chips?

If you think about adjusting some positions to chase the hot spot of "big consumption", you are putting the cart before the horse and putting the cart before the horse.

Also, if you want to obtain excess profits from the market, you must inevitably endure the uncertain market retracements. We must know that profits and losses come from the same source. It is impossible for us to avoid some necessary downward retracements while holding shares.

, if you always want to avoid it, you will most likely avoid the opportunity for a big rise after the adjustment is over."

"Manager Zhao is right." At this time, Zhu Tianyang also responded with a smile, "As traders, what we should pay attention to most is the choice of opportunities. Some downward adjustments may seem fierce and uncomfortable, but they are

necessary.

This chapter is not finished yet, please click on the next page to continue reading the exciting content! The two core themes of ‘big finance’ and ‘big infrastructure’.

This round of adjustment is mainly due to the selling pressure formed by profit taking and arbitrage selling during the news vacuum period.

This kind of selling pressure should be cleared up as soon as possible to re-establish the stability of the chips.

On the contrary, it is easier for the two core lines of "big finance" and "big infrastructure" to achieve higher market heights and a smoother upward trend.

Therefore, the adjustment at this time, to put it bluntly, is to make the subsequent market trend better.

The current retracement of the net value of our fund is also to prepare for the subsequent net value to explode to new heights.

Without this retracement, without this adjustment trend to clean up short-term profits and unwind arbitrage, we would blindly deviate from the technical aspects and continue to make a strong upward attack, continue to hold high and fight high, and continue to open up the main line with the market's low positions, such as '

The valuation gap among core weight stocks in the main consumer sector.

So, the final result.

That is, the higher you go, the more profit orders and unwinding orders are gathered.

And the capital group that is willing to take on the investment at a high level will obviously hesitate after the valuation gap between the high-level main line and the low-level main line becomes too wide.

This will significantly weaken the ability and willingness of the continuously increasing financial group.

As more and more profit-taking and unwinding deals pile up, the size and willingness of the financial groups willing to take on them gradually weakens and decreases.

Then, the market situation will be very natural and unsustainable.

And at that time, once the market turns, there will definitely be landslides and tsunamis, which will be very violent.

Moreover, due to the overdraft of too much long-selling funds, it will be very difficult to restart the upward trend after the market turns sharply and locks out too many bulls standing guard at high positions to take over funds.

Therefore, it is not necessarily a good thing to continue to make strong upward moves and continue to squeeze short prices.

Making timely adjustments, building the chip platform ladder again and again, and rising steadily step by step, so that the stock price can advance in sync with expectations and performance explosions, is not necessarily a bad thing. On the contrary, I think that just stopping and going and rising steadily is the best way to make timely adjustments.

This is the best trend.

In other words, we are trading.

There are only two points that affect profit acquisition, one is the cost of buying and the other is the position of selling.

As long as the market trend can make our selling position higher, then won't we be able to maximize the market's excess profits?"

"There is absolutely no problem in continuing to stick to the two core lines of 'big finance' and 'big infrastructure'." After hearing Zhu Tianyang's analysis, Liu Yuan also emphasized again, "The adjustment is for better growth. I

I believe it won’t be long before many of the heavyweight stocks held by our fund can easily break new highs.”

"It should be by the beginning of December that the entire 'big finance' and 'big infrastructure' main lines will have a clear upward trend and restart." Zhang Guobing, who had been silent, also responded at this time.

"Why does it say it's early December?" Wang Can asked.

His market analysis ability and trading level are limited by his talent. Compared with several others, there is really a big gap.

Therefore, for things that everyone can understand, or that can be understood in just a few words, he often needs to think carefully or inquire deeply.

Zhang Guobing continued with a smile: "Because in early December, it will gradually become clear whether the central bank will cut interest rates, reduce reserve requirements, and whether the entire macroeconomic policy can be reversed. At that time, the two terms of 'big finance' and 'big infrastructure' will

The expectations of the big core main line have returned to a radical upward trend, can the stock price not rise?"

"There is another reason." During the simple discussion, Li Meng, who had been quietly observing the changes in the market in front of the main control computer of several fund products in the company, interjected, "At the beginning of next month, the Federal Reserve's interest rate meeting will be held.

It directly determines which way macro monetary policy will turn."

"Mr. Li thinks the direction of the wind is more favorable or more negative?" Zhang Guobing couldn't help but ask.

Li Meng replied with a smile: "No matter whether the external wind direction is good or bad, it will have short-term effects, but in the long term, the central bank's monetary policy shift should be high probability. After all, economic recovery requires monetary easing to support it, and

Even in the second half of this year, inflation data and various economic data support the central bank's loosening of money to stimulate the market. Of course... for the stock market, the focus is not whether the central bank can cut interest rates or how much it can cut, but how much it can cut.

With the action of lowering the required reserve ratio, the macro monetary policy represented has shifted towards this huge expectation."

Zhang Guobing nodded and said: "I also think that there is a high probability that macro monetary policy will be loosened in the future. Coupled with the bull market atmosphere and the macroeconomic strategic concept of investing in stimulating the economy, the two concepts of 'big finance' and 'big infrastructure' will

With the big main line, there will definitely be huge investment opportunities in the future.”

In the trading room, everyone is analyzing the market and looking forward to the market outlook.

As well as related discussions on re-firming the holding institutions and the main direction of investment.

At this time, the trading time has unknowingly entered 11:30, and the two markets ushered in the midday closing time, and the market was frozen.

I only saw the last half hour or so of trading before midday.

In the end, the Shanghai Index was set at 3422.43 points, with an intraday decline of 1.23%. The Shenzhen Index and the ChiNext Index closed down 0.75% and 0.39% respectively. Among them, the A50 Index closed down 1.76%, while the Small and Medium Enterprises Index remained unchanged.

The stock closed in the red, closing up 0.13%.

A total of 983 stocks were listed in the two cities, accounting for 48% of the market's stocks.

This number of red stocks fully demonstrates that although the market is in the process of adjustment, the local money-making effect is not bad.

At the same time, the half-day turnover of the two cities reached more than 430 billion, which continued to shrink compared with the same period yesterday.

In addition to the performance of several major market core indexes, red-plate stocks, and turnover, the core main lines of the two cities, as well as the performance of many popular stocks.

Overall...

The entire market still maintains the three core main line-related industry sectors, concept sectors, and related core weight stocks of 'big consumption', 'mobile Internet', and 'smartphone industry chain'. The popular concept sectors led the gains in the two markets, and '

The core main lines of "Big Finance", "Big Infrastructure" and "Military Industry" and their related industry sectors and concept sectors comprehensively led the decline in the market pattern of the two cities.

The top 20 stocks in terms of attention and discussion among investor groups in the two cities.

In addition to the stocks of "Huake Shuguang, Shanghai Sanmao, Shanghai Steel Union, and All Access Education".

Others... popular stocks that tend to be in the main direction of 'big finance', 'big infrastructure', and 'military industry' basically closed in a downward state. Among them, 'Bluestone Heavy Equipment', 'Chengfei Integration' fell to the limit, and 'Flush'

The stocks of the three Musketeers in the Internet financial sector, Great Wisdom and Oriental Fortune, all fell by more than 5%.

Popular stocks that tend to be in the main direction of 'big consumption', 'smartphone industry chain', and 'mobile Internet' basically closed in the red. Among them, 'Sanjiang Shopping, Huaqingbao, Anjie Technology' hit the daily limit, and 'LeTV'

Net, Internet Speed ​​Technology, and Huaguo Software' all surged more than 5%. If you like "Rebirth of the Investment Era", please bookmark: (www.sodu777.net) "Rebirth of the Investment Era" search and reading novel network has the fastest update speed on the entire Internet.