The investment era of rebirth

Liu Guanhai thought for a while and said: "Let's hold positions again and take a look. The beginning of market differentiation does not mean the beginning of the market peaking in the short and medium term. The market has such a strong bull market basic logic and such strong emotional support. Even if there are new developments outside the market,

The influx of funds has obviously weakened.

According to the inertia of the trend, the market situation can continue to move forward for a period of time.

What's more, the market has not experienced such differences before.

Market trends in September and October.

When the two core main lines of 'big infrastructure' and 'military industry' reached stage highs and fell into sideways fluctuations, the market also experienced this kind of differentiation trend. Many individual stocks also showed obvious signs of heavy volume and stagflation.

Even an obvious callback trend pattern.

However, if you look back and look at it now...

Could it be that the market has hit new highs one after another after that brief wave of sideways adjustments?

At that time, many large amounts of funds that were used to stop profits on the main lines of "big infrastructure" and "military industry" completely failed in this round of market prices?

So, I think as long as there is no problem with the underlying logic of the bull market.

As long as the macro fundamentals and market capital continue to improve in the medium to long term, then the short-term adjustment of the market, or the divergent trend of many core stocks, is not terrible.

The so-called adjustment is for better growth in the future.

Looking back, in September and October, those popular stocks on the main lines of "big infrastructure" and "military industry" that hit new stage highs have now reached new heights. At that time, everyone thought they were stage highs, but now...

Is it already at a low level?

Everything has two sides.

Since our fund products currently have sufficient cost advantages.

Moreover, the long-term investment logic of the market has not fundamentally changed.

Then, we might as well continue to maintain static positions, let profits continue to run, and wait for the market trend pattern to become clearer."

"Okay!" Yu Lei nodded and did not object.

In fact, in his heart, he is relatively vague about possible adjustments in the market, as well as the time and space for adjustment.

Furthermore, Liu Guanhai’s analysis of the logic of continuing to hold positions is not wrong.

In the so-called bull market, one must endure loneliness in order to maintain prosperity. This has been fully verified in the previous evolution of the main line market.

He is not sure whether the market liquidity at this time has reached the limit of bulls.

It is also not certain whether the main lines of ‘big finance’, ‘big infrastructure’ and ‘military industry’, which are being hotly speculated by the market, have fulfilled the expectations of corresponding fundamental changes after the sharp surge this year.

Of course, what made him hesitate even more...

At the central bank's monetary policy meeting next month, it is highly likely that interest rates and reserve requirement ratios will be cut.

Once the central bank cuts interest rates and reserve requirements, and the entire macro-finance situation reverses, the market's capital liquidity will definitely further increase sharply, and it can directly or indirectly bring trillions of new investment funds to the market, and

A complete change in the financial situation will hardly help stimulate the overall valuation and market trend of the market.

In other words, no matter which direction you analyze at present.

Expectations have not yet been reached.

In other words, he feels that the market may enter a short- to medium-term adjustment, but it is just based on the market sentiment shown by the current market trend, without substantial underlying logical support.

If you just rely on the sharp rise in the market feeling, you can persuade Liu Guanhai to adopt a trading strategy of reducing all positions and taking profits.

If the market continues to climb, it will continue to be the same as before, and the divergence will turn into consensus.

Then the fund product they manage will not only miss the market and lose rapidly expanding profits, but will also lose many high-quality chips they currently hold, as well as the corresponding holding costs.

In a bull market, selling is easy.

But after selling, it is not easy to buy back the chips at the original selling price.

Therefore, taking all these into consideration, he felt that it would be more prudent to still hold static positions and look at the subsequent market performance.

Also, the amount of fund products they manage is not too large.

With the current abundant liquidity in the entire market, he felt that if the market showed signs of adjustment becoming more and more obvious, they could still reduce their positions and exit immediately.

What's more, their holding costs are very low and they have sufficient error tolerance.

As the two discussed the market after the market closed, they decided to continue to maintain static positions and wait and see the further reaction of the market.

Zexi Investment Company, also located in Shanghai, has its main internal fund trading room.

After briefly reviewing the market, Zhou Kan couldn't help but smile. He admired Xu Xiang's previous judgment on the market and said, "Sure enough, as you predicted, boss, for two consecutive trading days, the market surged sharply at the end of the trading day."

The highs have fallen back, and it is obvious that today's market conditions have further converged on core weight stocks of popular main lines such as 'big finance', 'big infrastructure', and 'military industry'."

"Yeah!" Xu Xiang nodded and said, "But the market has just begun to diverge. According to the current market sentiment, this market trend can still continue for a while."

Zhou Kan thought for a while and said: "In the subsequent market differentiation, active capital groups should further converge towards the market's core main line weighted leading stocks, which have obvious profit-making effects. There is still a huge undertaking on the market, and the upward trend is still accelerating."

?”

Xu Xiang responded with a smile: "Once the continuous incremental capital groups outside the market begin to be unable to fully undertake the main line of chips on the market, the active medium and short-term funds on the market will naturally further flock to areas with stronger money-making effects.

, and then until...the market situation diverges to the point where the money-making effects of the main line leaders begin to gradually decline and disappear, the overall market trend will be completely reversed.

The current market performance today can be considered a June Fourth market situation at best.

This chapter is not finished yet, please click on the next page to continue reading the exciting content! Then, the follow-up gradually develops into the March 7 market situation, the 28 market situation, until the 19th market situation, or the final money-making effect, mainly concentrated on the core main line

If there are several core concept leaders, then... a period of market's main rising market will be regarded as coming to an end.

Let’s go next…

The main thing is to observe the market differentiation trend and whether it will evolve along our judgment and expectations.

There is also the need to pay attention to changes in the overall turnover of the market.

If the market turnover continues to change at the current pace and has been suppressed below the scale of one trillion transactions, at the same time, the market differentiation situation will become more and more serious, and the stocks that can produce money-making effects will become more and more concentrated in a certain

Main line, a certain theme.

Then, we must be fully prepared to reduce positions and stop profits."

"Understood!" Zhou Kan nodded and said, "Don't worry, boss, we have made corresponding preparations. As long as the market takes a sharp turn, we will immediately reduce our positions and stop profits on a large scale. However, today many 'big financial', 'big financial'

The trading volume of the heavyweight stocks in the core main lines of "Infrastructure" and "Military Industry" during the late afternoon diving period was very large, and the active selling was not small. Moreover, most of the stocks with severe market selling pressure were from the "Yuhang" series.

'I don't know if the fund's holdings of concept stocks are being sold by the 'Yu Hang Group', the main force of funds?"

"We will know later when we look at the Dragon and Tiger ranking data disclosed by the two cities." Xu Xiang said.

The entire 'Yu Hang Group' fund's shareholding scale is so large that Xu Xiang does not believe that the other party can completely avoid the sight of market supervision by concentrating on reducing positions on a large scale.

As a number of similar institutions like them made different changes in trading strategies in the after-hours analysis.

At the same time...

The large number of retail investor groups spread across the major stock discussion platforms across the Internet are also discussing intensely at this moment, and they are still mindlessly optimistic about the market.