The investment era of rebirth

Chapter 187 Market Discussion
Then, at 3 o'clock, the two markets closed.

The Shanghai Designated Index fell by 1.95%, the Shenzhen Stock Exchange Index fell by 2.21%, and the Growth Enterprise Market Index fell by 2.52%.

Of course, what few people know is that Guangda Securities alone contributed more than 100 billion in trading volume today.

And when the index fell across the board, the index amplitude and turnover both hit new highs for the year.

Except for the 'Shanghai local stocks' sector, which was heavily bought by funds at the end of the trading session, the rest of the industry sectors and concept sectors are all seeing a large outflow of funds, and the overall market investment sentiment is relatively pessimistic.

After the market closes...

In the face of such a huge market performance, the sudden suspension of trading in Guangda Securities, and the sharp drop in its Hong Kong stocks.

In the entire market, various rumors about Guangda Securities manipulating the market, and even maliciously going long or short the market, also began to spread further.

And, during this time period.

Using delaying tactics, the executive president of Guangda Securities Co., Ltd., who dragged it to the close, has received another call from the main responsible leaders of the China Securities Regulatory Commission.

The other party strongly requested Guangda Securities to issue an announcement explaining the reasons for the abnormal market fluctuations today.

Give the market an explanation.

At the same time, the transaction monitoring team from the exchange has also fully settled in the Investment and Trading Strategy Department of Guangda Securities, taking over the relevant data.

So, in this case, 4pm.

Guangda Securities issued an explanation announcement, and at the same time, the regulatory authorities also issued an investigation document explaining the abnormal trading of Guangda Securities, which caused extreme market fluctuations.

And at this moment, the entire market, the vast number of investors who are at a loss.

Only then did I understand the reason for the extreme volatility in the market today.

"Oh my god, I didn't expect this to happen!" Inside Yuhang Investment, in the trading team that was reviewing intraday trading and market changes, Li Meng was shocked when he saw the announcements issued by Guangda Securities and the China Securities Regulatory Commission. , "It's really an oolong market."

"It's not just an oolong market." Su Yu looked at the document announcements issued by Guangda Securities and the China Securities Regulatory Commission at the same time, sighed, and said, "And...according to the principle of information disclosure today, Guangda Securities only disclosed it now. The real situation has already violated the regulations, let’s look at the impact of this incident on the market and the investigation of the China Securities Regulatory Commission, no matter what, with today’s market fluctuations, if some people are not dealt with, it will definitely be difficult.”

"I see that in online forums, everyone is discussing that Guangda Securities is doing it on purpose." In the trading team, Wang Can said, "It is said that they are manipulating the market, influencing the index through underlying stocks, and thus arbitrage on stock index futures. , and... today's Shanghai and Shenzhen 300 stock index futures, the trading volume is indeed bursting, the longs and shorts in the market are all ransacked, and there are countless people who stop losses and liquidate their positions."

"It should not be done on purpose." Li Meng said, "Guangda Securities is a large brokerage institution with a formal state-owned background, not a private arbitrage institution in the market. There is such a big battle, but what is the real interest and truth in it, and whether the traders operating below have any other ideas and caused this mistake, it is not known.”

"Forget about these..." Su Yu said during the discussion among the crowd, "Although this matter has a profound impact on the trading system and risk control of the entire domestic financial market, it should still have a limited impact on the market itself. Let’s talk about your follow-up views and market analysis on the market!”

For more than a month, he basically taught the team members how to analyze.

From what point of view, to understand the market.

Now is the time for everyone to apply what they have learned, independently analyze the market, analyze the market, and make corresponding follow-up investment strategies.

"Liu Yuan, tell me first!"

Su Yu paused, seeing that the crowd hesitated to speak, and began to roll their names.

In addition to him, Li Meng, and Wang Can, the three initial members of the trading team, among the six new traders recruited later, he is the most optimistic about this girl who is younger than him and has a strong ability to understand market changes.

Liu Yuan glanced at Su Yu, pondered for a moment, and replied: "Today's market, although the market sentiment and index trends are ugly, and the ChiNext Index has fallen below the upward trend line, there is a risk of continuous plummeting, but from the volume In terms of performance, in fact, the market is in this position, and there is no shortage of power to undertake it.”

"Today, it has almost reached a turnover of 1000 billion."

"Although there is the influence of the buying volume caused by Guangda Securities' misoperation, it has increased by nearly 250 billion compared with the average turnover of the previous five trading days, indicating that today's turnover, apart from the influence of Guangda Securities' buying and selling, should be It’s still going up a lot.”

"And according to what President Su said..."

"Except for the Growth Enterprise Market, the position of the main board of the Shanghai Stock Exchange Index should be extremely locked up, it is difficult to release energy, and the valuation is extremely low at the bottom of history."

"Then, at this stage, releasing such a large amount of energy should be regarded as a bottom-up increase."

"That is to say, regardless of whether Guangda Securities' operation today is intentional or not, the extreme fluctuations in the market today can be regarded as a bargaining chip exchange between 2056 points and 2216 points. Loosened on a massive scale.”

"When the bargaining chips are locked in this point range, the chips that are willing to sell loosen on a large scale."

"That means that the upward pressure on the index from the current position to the range of 2216 points will be much smaller."

"Looking at the bottom of the index, after the sharp drop on June 6 and June 24, the Shanghai stock index fluctuated between 6 points and 25 points in the past one or two months. This should be a very solid bottom for chips to gather, unless The market suddenly encountered a major negative event like a 'black swan', otherwise it should be difficult to fall through."

"This also means that the index's downside space and downside probability are actually very small, and the upside range and upside probability are both very large."

"At least... I think that today's upper shadow caused by the misoperation of Guangda Securities, the Shanghai Stock Exchange Index will be able to recover in the next time."

"Looking at the GEM index, after falling below 1200 points, it has been oversold in the short term."

"In addition, when the GEM refers to the breakthrough in the early stage, the range between 1000 points and 1200 points is actually a range where the entire volume can be concentrated and enlarged, and after repeated back-and-forth tamping, the high-level change-over range of chips, and then adjusted downward...is also a decline. The kinetic energy is far less than the upward kinetic energy."

"So, in my opinion, although the index is going ugly today, it is more like washing the market and attracting short-term investors."

"Moreover, the main board's 'Shanghai local stocks' sector, there is obviously a large-scale fund-hunting at the end of today; as for the GEM, all the popular stocks and popular concept sectors in the early stage have been fully adjusted, and the stocks and sectors have been fully adjusted. Long-term support logic and expectations still exist, and it can be seen from the recent Dragon and Tiger rankings that for stocks with strong expectations, such as Netspeed Technology and Fenda Technology, the hot money has ebbed, but the institutions have not.

"That is to say, the core sectors and concept stocks that drive the Shanghai Stock Exchange Index and the Growth Enterprise Market to point upwards, the market has not been cut off and ended, and they can continue to explode and continue to make money."

"So... in general, I am bullish on the market outlook and think we should maintain a relatively aggressive investment strategy."

Su Yu listened to Liu Yuan's market analysis, nodded slightly, picked up her intraday trading report, and said, "This is when you are at the lowest point in the day, when the market is panicking, you can get into your own hands and subtract from the midday high. The reason for all the bargaining chips? Yes, the consistent views and actions are worthy of praise.”

In general, although Liu Yuan's market analysis ignores some macro market conditions and changes in the external financial market.

But it is still logical and organized, and basically consistent with his judgment on the market.

Of course, this also shows that this girl is indeed talented.

After all, Su Yu still remembers that when the other party first arrived more than a month ago, apart from being able to execute trading orders without compromise, his understanding of the disk was really limited to the rise and fall of the stock price and the shape of the K-line. superior.

"Thank you, President Su, for your compliment." Liu Yuan responded and stopped talking.

Su Yu nodded and smiled, then looked past her, turned to Zhu Tianyang, who had passed the examination and transferred to the trading department not long ago, and asked, "Tianyang, what do you think?"

"I agree with Liu Yuan in judging the direction of the Shanghai Stock Exchange Index."

Zhu Tianyang replied: "It's just the ChiNext... I have a different opinion. The ChiNext index is in terms of growth. Although it has been pulled back for many days recently, it is still far higher than the Shanghai Index. Now the active funds in the market come from related popular constituent stocks of the ChiNext. , a large-scale low tide, the main line of speculation in the "Shanghai local stocks" sector of the main board appeared, and funds gathered here on a large scale. The incremental funds and active funds in the entire market could not support the two lines in parallel, and could not achieve a continuous general rise. .”

"I think the adjustment of ChiNext may not end so soon."

"And for some time to come, the situation where Shanghai is strong and Shenzhen is weak will not fundamentally change."

"Of course, when the overall incremental funds in the market cannot support the overall market, the flexibility of the GEM index is still better than that of the main board."

"Once the GEM index is adjusted in place..."

"The follow-up market style and the main continuation of the market are estimated to have to be transferred to the core concept sector of the GEM and the leading stocks that were strong in the early stage."

"Well, not bad!" Su Yu nodded with a smile, "The market is based on the quantity first."

Zhu Tianyang's opinion can be regarded as a supplement to Liu Yuan's thinking, and of course, it is also more in-depth and precise.

"Wang Can, what do you think?" Su Yu turned his gaze to Wang Can after asking the two of them.

Wang Can thought for a while, and said: "Since Mr. Su said that the market is based on quantity, there is no market without quantity, and the current market sentiment is not very good, and it is difficult to drive more incremental funds to enter the market, then I think Whether it is the Shanghai Stock Exchange Index or the Growth Enterprise Market Index, I am afraid it will be difficult to get out of the continuous rising market. For a period of time to come, most markets will still be dominated by shocks."

"Li Meng, what about you?" Su Yu continued to ask.

Li Meng replied: "I think whether the index will fluctuate or go up, at least there is not much room for it to go down. That is to say, there is not much risk in the macro market."

"So, then we should be a little more aggressive in operation."

"Also, at this time, since the market has new incremental energy, it is impossible to maintain a general rise in the market situation, and it can only bring about a partial market and a seesaw effect."

"Then we should lighten the index and emphasize individual stocks."

"As long as the stocks we hold, the investment logic still exists, and the expectations still exist, I don't think there is anything to worry about."

(End of this chapter)