The investment era of rebirth

Chapter 234 Emotional differences, get rid of the weak and keep the strong!
"Shanghai Stock Market is still trading at the limit!"

Seeing the results of the initial call auctions in the two cities, Li Meng was a little surprised inside Yuhang Investment and in the trading room, and said, "The prying board and follow-up funds were all buried yesterday. It’s really rare that some of the funds held in the market are stamped and sold like crazy.”

"When this check peaked last Friday, the amount released was too large. Afterwards, the active funds in the entire market completely ebbed on the main line of speculation in the 'Shanghai Free Trade Zone', and then superimposed the oversold rebound at the end of yesterday. 'The differentiation of hot spots in this hype concept..." Su Yu replied, "It's normal to be trampled and sold off one after another."

"However... After yesterday's large-scale prying board, the check, the bargaining chip in the market, has loosened a lot."

"According to the still good investment sentiment in the two cities, and everyone's expectations for the index to continue to rebound."

"The check should rebound from the limit down today."

"It's just that the focus of attention in the entire market and the field of capital accumulation have long been out of the line of the 'Shanghai Free Trade Zone'. Even if the check is opened again today, the range of the final rebound is very limited. Ultra-short-term strategy for bottom-hunting...the profit-loss ratio is actually not high."

"All right……"

After Su Yu analyzed the stock of Shanghai Material Trade, he paused, and said: "The current time and space adjustment of the line of 'Shanghai Free Trade Zone' is far from enough, and the market is in the direction of this main line. In the market, there are no new big benefits coming out, so there is no need to pay too much attention.”

"Let's focus on the line of 'reorganization and backdoor' and the line of the GEM's 'pan-mobile Internet' sector."

"There should be a clear differentiation in the market today."

"Whether it is the concept of 'backdoor restructuring' or the concept of 'pan-mobile Internet', they will all enter the knockout stage of hype, and the trend of the strong getting stronger will be reflected today."

"Yeah!" Li Meng replied, "At the end of yesterday, the market showed signs of differentiation."

"When the trend enters this stage..." Wang Can also answered next to him, "We should enter the concentration of holdings, weaken and strengthen, right?"

Su Yu nodded, and replied with a smile: "That's almost what it means. At present, our fund holds a total of 46 stocks. Relatively speaking, it is relatively scattered. Of course... this dispersion is also because we cannot instantly trade in one or two stocks." It was forced to build too many bargaining chips in a single stock.”

"But now, when the market has its first split in sentiment, when the market is polarized."

"It has to be adjusted."

For the hype market of a mainline concept, usually in the initial stage, it is driven by a few two or three leading stocks, and then ushers in a general rise.

In this situation, in fact, holding ordinary concept stocks does not have a big gap with the rise of leading stocks.

But when funds fully intervene in this hype market, everyone realizes this opportunity, and when the market starts to discuss the specific stock expectations and fundamentals under this hype market, emotional and market differentiation trends will naturally appear.

And at this stage...

Under the same hot concept, concept stocks with different textures and expectations have relatively large differences in trend.

Often the hype expectations are still very strong, the popularity is extremely high, and the core concept stocks with deep involvement of the main funds will re-establish the bargaining chip structure after cleaning up a wave of profit-making, and they will become stronger and stronger, and then reach new highs; Such strong concept stocks will gradually fall back during this stage of emotional differentiation, and even quickly fall back to the original point as the hype of concept hotspots declines.

Therefore, once in the concept hype, when the market reaches a divergent node.

It is necessary to make a reasonable adjustment of positions, remove the weak and retain the strong, in order to better gain more profits and take more initiative in the main line of hype.

"Okay!" Wang Can replied, "We can handle five stocks by ourselves, so we should be able to handle it."

In the 'Yuhang No. 1' fund, among all the stocks held by the fund, except for the core 15 stocks, the number of other stocks held is not much.

Su Yu's request to get rid of the weak and keep the strong is mainly aimed at these concept stocks with a small number of positions.

Therefore, when the number of holding chips is very small compared to the stock market value and market liquidity, it is not difficult for the trading team to keep an eye on the market of 5 stocks.

And with the brief discussion among the people.

The time has come to 9:20, and the two cities have entered the real call auction for irrevocable orders.

I saw that most of the stocks in the two cities opened higher in unison before, but in the 5-minute time change, there was an obvious differentiation.

In the main line of the concept of "Shanghai Free Trade Zone", the oversold core stocks, such as Waigaoqiao, Anxin Trust, Shanghai Stock Market, etc., have rebounded slightly compared with the beginning of the call auction at 9:15, especially the Shanghai stock market. The trade limit was opened again, with a lower opening range of about 8%.

In the main line of the "restructuring backdoor" concept, the seven or eight concept stocks that opened with a one-word daily limit, except for Far East, Rongshun Software, and Xinwei Group, are still maintaining a one-word daily limit. 5 points ranging in position.

'Pan Mobile Internet' field.

In the "Mobile Game" concept sector, Huaqingbao and Changqu Technology's gains fell from close to the daily limit at 9:15, and fell back to about 5%; in the "Apple Industry Chain" concept sector, Fenda Technology, Anjie Technology, Oufei Technology, etc. Tickets, the increase has also fallen from the highest 7 or 8 points at the beginning of the call auction to less than 5 points; in the concept sector of "film and television media", Huayi Brothers still maintains a one-word board because of the favorable acquisition, while LeTV, Guangming Stocks such as Limited Media, Wasu Media, etc., have seen their gains drop from the initial 6 or 7 points to 2 or 3 points.

Others, such as 'Internet Finance' concept sector, 'Mobile Payment' concept sector, 'Electronic Information' concept sector, '4G network construction, network security' concept sector, the gains of related concept stocks are only a few can maintain Above the red plate, the rest... have begun to turn green.

紧接着，9点21分，9点22分，9点23分……

With the further passage of the call auction time, the differentiation of related concept stocks in the two cities has further intensified.

In the end, at 9:25, when the call auction of the two cities ended, except for the popular stocks with core concept hotspots, they still maintained a consistent high opening trend. Many concept stocks opened lower one after another.

At the same time, the three major indexes are under the influence of market trends.

In the end, it also changed from the expected overall high opening situation to a slightly lower opening.

"The market continues to divide..."

Seeing the opening results like this, Xie Wanting frowned slightly inside Yanjing and Anlan Fund, in the trading room: "Isn't the market changing too fast? It only took two trading days from a full-scale outbreak to emotional differentiation. I thought that' The line of "restructuring backdoors" should continue for a while, but looking at it now... it is estimated that the height is very limited."

"The core point is still the hot concepts related to the GEM." Zhou Guohua, who was standing behind her, pondered for a moment and said, "After the guidance of the main funds related to the Dragon and Tiger List yesterday, during the call auction today, the funds have increased. It is a sign that it is increasingly converging towards the hot concepts related to the GEM.”

"Then we..." Xie Wanting paused and asked.

Zhou Guohua didn't wait for her to speak, and continued: "Take advantage of the divergent market sentiment, and continue to increase the weight of holdings in stocks related to popular components of the GEM!"

"Since the trend of the market is still converging in the direction of the GEM."

"The so-called point of divergence is not the point of reducing positions, but the point of increasing positions."

"Of course, the line of 'restructuring and backdooring' is currently expected to decline. As you said... the room for speculation in the follow-up line is probably very limited. After a round of disagreement, even if the market can continue, then It is also a matter of core leading stocks of related concepts.”

"And the real core leading stocks..."

"Today's collective bidding stage is still in the form of a one-word daily limit, and we have no chance to intervene at all."

"So, the cost performance of this line of investment is not very cost-effective for us. I think...in terms of opportunity selection, we can abandon the continued investment in the line of 'reorganization and backdoor', and focus on the main investment. It is more appropriate to put it on the GEM.”

"Yes!" Xie Wanting replied, "I agree with the teacher."

In the current market, there are three main lines of concept hype.

"Shanghai Free Trade Zone" is the main line of speculation, the time and space adjustments are insufficient, the bargaining chip structure is loose, and there is no new positive support. Under such circumstances, it is impossible to attract the main funds to continue speculation in this direction;' Although the main line of hype about restructuring backdoors is not bad in terms of expectations and imagination, the cost performance of investment is not very high after it has risen sharply for two consecutive days without any improvement in its fundamentals.

On the contrary, it is in the direction of the GEM...

Many core popular concepts, and related core concept stocks, regardless of the overall outbreak expectations of the industry or the fundamental changes in the stocks, are quite strong. In addition, the entire GEM has experienced a sharp rise from April to July. Trend, with historical reference.

Compared with the other two main hype concepts, it is more likely that the market will continue to explode.

"As for the mark..."

Zhou Guohua glanced at the time, thought for a while, and said, "According to the industry information disclosed successively by the market, 'mobile games' must be the most explosive. Month-on-month, and the overall month-on-month growth rate is above 20%.”

"Such a burst of demand, and the overall burst performance."

"Even if the stock prices of related stocks are already several times high, it is difficult not to rise as expectations increase."

"It's a pity that we spent too little time in this field to compete for funding. Compared with Fortune Road and Jiefang South Road, we seemed too hesitant and didn't get too many bargaining chips."

"Now Fortune Road and Jiefang South Road are fully invested in this field, and there are not many high-quality bargaining chips left."

"If we want to continue to increase our positions on a large scale, I am afraid that the cost of buying will be much higher than that of the other two main stocks, and we will not be able to control the market at all, and we will not have market dominance."

"So, my suggestion is that in this field, we should stop scrambling for high positions and increasing positions on a large scale. If there is a chance, we will absorb low chips, and if there is no chance, forget it."

"My main idea..."

"I still think that we should make a large-scale breakthrough in the field of 'Apple industry chain' and 'wearable devices', that is, the field of 'smart terminal equipment'."

"In the field of smart terminal equipment?" Xie Wanting murmured thoughtfully.

(End of this chapter)