The investment era of rebirth

Chapter 262 Bull market, this is a bull market!
"The index has eleven consecutive positives, and the GEM index has hit a record high since the index was established. The bull market is really coming!"

Market investors, who are full of passion and extremely excited, have heated discussions in major financial communities and stock forums, and their words are full of good expectations for the future market.

"There is no doubt that the ChiNext index has almost doubled from the bottom to now, and it is an absolute bull market."

"It's just that the stock index didn't move much."

"This round is obviously a bull market for the GEM, and there is a high probability that the market will still be on the GEM in the future. The Shanghai stock index has been dragged along by the GEM index. It is not normal to not move much."

"It can't be said that every time a comprehensive bull market starts, it is usually the mid- and small-cap stocks that move first."

"Yes, yes, the elephant dances, usually after the mid-term of the start of the bull market."

"Looking back at the last round of comprehensive bull market, the core line is the 'color cycle' stocks, this round should be the emerging economic fields dominated by 'mobile Internet' and 'smartphone industry chain'?"

"That's for sure, the market has already made a choice."

"Looking at Hua Qingbao's rise, I'm afraid it's the 'Hua Guo God Ship' of the last round of bull market!"

"Huaqingbao's volume is not enough. If the core driving sector of this round of bull market is the GEM, it should be said that Netspeed Technology can compete with the 'Huaguo Shenzhou'."

"LeTV is not bad either. Mr. Jia is very ambitious. He wants to rely on LeTV's members and users to build an ecological company. It's hard to say that LeTV will be the next 'Ari Baba' group."

"I am also optimistic about LeTV. I feel that the future potential of this company is really unlimited, and there is great hope of becoming a giant."

"Has no one mentioned Fenda Technology? Comparing with the direction of Apple's wearable device business, this will also be a huge market of hundreds of billions in the future, and the growth rate of the wearable device market in the second and third quarters of China is all Exceeding the expectations of market investors, even the core executives of the company have called out a three-year market value target of 100 billion yuan, and the current market value of this check is only about [-] billion yuan, so there is really a lot of room for it.”

"There is also Tianyu Information, which is firmly embracing the two thighs of 'mobile' and 'telecom', coupled with the national bank IC card replacement trend, in the field of mobile payment, this is the absolute hegemony."

"Yes, the field of mobile payment in the future will definitely be a major investment direction."

"What about the field of 'Internet finance'? Has no one paid attention to it? In the 4G era and the era of mobile Internet, the financial system should also usher in major changes, right?"

"Suddenly I feel that there are so many bull stocks in the market!"

"These bull stocks are basically the stocks held by the 'Yuhang No. 1' fund managed by Fortune Road?"

"Really, I have to say that Fortune Road is really bullish. Regardless of long-term or short-term, it is at the top level of the market, and there are a lot of bullish stocks selected."

"Otherwise, how could the performance of the 'Yuhang No. 1' fund be ten times the performance in three months?"

"According to the development direction of the market, Fortune Road will probably be the biggest winner in the market again, right?"

"It has already been. It is estimated that during this period of time, the net value of the 'Yuhang No. 1' fund may have climbed to a new height and set a new profit record for private equity funds."

"Mr. Su from Fortune Road, didn't you set up a new fund?"

"Let's guess, how will President Su build a position next? Will he still pursue the two main lines of 'mobile Internet' and 'smartphone industry chain'?"

"It will definitely be. This is definitely the main line market with the greatest potential in this round of bull market."

"I also think that Mr. Su will definitely pursue these two lines. After all... the market has the strongest profit-making effect here, and the continuous pursuit of positions can also give the old fund a lift."

"If Mr. Su really wants to go after positions, then the bargaining chips for these bullish stocks will become even more scarce in the current market."

"In a bull market, high-quality chips are always scarce."

"Then what are you talking about? Go ahead and buy it tomorrow, follow Mr. Su, and you will definitely have some meat to eat."

"The dragon and tiger list is out, look at the dragon and tiger list!"

Amidst the heated discussion, the time reached 5:[-] pm, and everyone's eyes quickly focused on the refreshed Dragon and Tiger Ranking.

"Sure enough, Fortune Road is still locked."

"Jiefang South Road is no longer sold, and institutions continue to increase their positions in the two main lines of 'mobile Internet' and 'smartphone industry chain'!"

"Hua Qingbao is not on the list."

"The daily limit was smashed in seconds, and the increase was only closed at 6.5%. It is normal that it is not on the list!"

"Who would smash Hua Qingbao? An institution?"

"There are a lot of hot money and institutions in Huaqingbao. It's hard to say, but it will definitely not be the road to wealth."

"It's good to keep rising, and it's good to keep rising. In this way...the market will continue until the third quarter report is released, and then new space will be opened again."

"Yes, generally speaking, everything continues to develop in a good way."

"Yesterday's ugly trend has been reversed today. A bull market must be a bull market!"

"Well, who said yesterday that the market had peaked? Today's slap in the face is loud enough, isn't it loud enough? What about the 'tombstone line'? This is obviously 'the fairy guides the way', okay?"

"It doesn't matter if it's a bull market or a bear market, or that sentence, wealth can't come out, I can't!"

"As long as I don't see Fortune Road being sold on the Dragon and Tiger List, then I will lock up the position until the end of time."

With the data of the Dragon and Tiger Rankings perfectly in line with everyone's expectations, the investment sentiment of the entire market has further become hot and radical after the announcement of the Dragon and Tiger Rankings.

Even, many people have already yelled to raise funds to enter the market with leverage, to snatch high-quality chips in the market and so on.

Of course, among them, there are also a very small number of people who are worried about the market outlook, looking at the trading volume that has not been able to increase significantly in the hot market.

"I don't know why, the more the market goes up, the more...in my heart... I feel a little more uneasy." In the atmosphere where market investors are excited and everyone has almost concluded that the bull market has come, at this moment in the Shenzhen market, Xinniu Fund company, Fang Xinsheng, the fund manager of Manniu No. 1 Fund, roughly browsed the market discussion topics on the whole network, and said with emotion, "The overall market sentiment has risen rapidly, but the turnover has not increased, and there is no new large amount of funds entering the market. Good emotions and slogans are most likely just empty talk!"

"What do you think is the reason why the turnover has been unable to increase even though the mood is up?"

Next to Fang Xinsheng, Liu Xin, the founder and general manager of Xinniu Fund Company, asked after pondering for a moment.

Fang Xinsheng smiled, and replied almost without any thought: "It is still a matter of market style and the fundamentals of various industries. In the current market, active funds are all accumulated in the 'mobile Internet', 'smartphone industry chain' and 'backdoor restructuring'." Among the main concepts of several major concepts."

"However, the main concepts of these major concepts include basically all small and medium-cap stocks."

"Compared to the core blue chips of the large market and many white horse stocks, these small and medium-cap concept stocks can't carry much capital at all."

"What's more... after repeated hype, the core stocks of these major concept lines are currently at absolute high levels in the short term, and many major funds are not willing to take orders at this position."

"This has led to this seemingly hot field, even though the transaction is very active."

"However, the turnover has been unable to expand significantly."

"Except for the other lines in these fields, although the position is low, it is not expected, and the profit-making effect is not strong. Compared with these high-level concept lines, it is more difficult to attract funds to intervene."

"This has caused the main funds in the market to find no suitable time to intervene, resulting in the overall turnover of the market, which has been unable to increase."

"Well, the problem you mentioned does exist." Liu Xin responded.

"What worries me even more is that if the turnover keeps not increasing..." Fang Xinsheng paused, and continued, "Then wait for the main concepts of 'mobile Internet', 'smartphone industry chain', and 'backdoor restructuring'." The expectations and room for stock price growth will be further consumed, and the funds in these areas will be further reduced."

"Then these few conceptual main lines will not be able to move the market and the overall sentiment."

"At that time, the market and sentiment will inevitably reverse, and the long-short situation will be completely different."

"So...you think the bull market doesn't exist?" Liu Xin pondered for a while before continuing to ask.

Fang Xinsheng chuckled and said, "The turnover of 1000 billion yuan between the two markets can't support a bull market. In the face of real money, all emotions and expectations are fake."

"The two main conceptual lines of 'mobile Internet' and 'smartphone industry chain', driven by changes in investor expectations and changes in industry fundamentals, have come out of an independent market, which is indeed commendable. It has not fully driven the entire market!"

"In other words, it is this point that does not drive the entire market."

"In this way, at the moment when these two main lines have been fired to the peak of emotion, not only is it not the time when the market takes off, the valuation increases, and the bull market is coming, but it is a very dangerous time for the market to adjust."

"So... you want to reduce your position?" Liu Xin asked again.

"Yes!" Fang Xinsheng nodded, "I want to reduce our fund's position."

Liu Xin pondered for a while, but he had a different idea in his heart: "But the main holdings of our fund are not in the fields of 'mobile Internet' and 'smartphone industry chain' that are currently being hyped and overdrawn. The fund’s core holdings have not risen much this round.”

"When the mud and sand are falling, no place is safe." Fang Xinsheng said, "After reducing the position, we will re-select the investment target as the market adjusts. This is a good way to increase the net value of the fund. The market continues..."

"We can neither pursue the two main concepts of 'mobile Internet' and 'smart phone industry chain' at a high level."

"Then, the profit is also very limited."

"Instead of this, before the risk comes, we might as well return the funds first and wait for the next suitable opportunity."

"The next suitable opportunity..." Liu Xin thought for a while, then laughed, "Xinsheng, you must have an idea in your heart, right?"

Fang Xinsheng nodded slightly, and said: "After the market adjusts, I think... we should switch back to the 'Internet Finance' sector."

Before the net value of the 'Yuhang No. 1' fund was announced.

The reason why their fund company's "Manniu No. 1" can occupy the first place in the annual performance list of net value of private equity funds is because they seized the opportunity of the explosion of "Internet finance" when the GEM rebounded in the early stage. Shanghai Stock Exchange Free Trade Zone', as well as the current concept of 'Mobile Internet' and 'Smartphone Industry Chain', are lagging behind in the market, and they have not grasped it.

That's why he was overtaken by the 'Yuhang No. 1' fund all the way and completely reduced to a supporting role.

But now, after careful consideration, Fang Xinsheng has decided to adjust his strategy and re-focus on investing in areas he is good at.

"Cut back to 'Internet Finance' again?" Liu Xin was a little surprised, "Xinsheng thinks there are still huge investment opportunities in this field?"

Fang Xinsheng nodded and said: "This is inevitable. The national slogan of 'financial innovation, financial technology' has not been shouted for a long time, and related policies are constantly being introduced. The previous hype... I guess it is just a warm-up. This Opportunities in this field definitely have huge potential.”

"It's just that after we invested in this field before, we chased the line of 'Shanghai Free Trade Zone'."

"Treading the wrong market rhythm."

"A lot of good equity investment opportunities in this space are missed."

"So, I think this time...return the funds first, and wait until the market really enters the adjustment cycle, so that I can get back all the chips we lost."

Liu Xin pondered for a while, thinking about what Fang Xinsheng said, there was some truth to it.

Moreover, they have not grasped the core main line of the market at present, and indeed they do not make much profit. They reduce their positions and take profits at this position, and wait for the subsequent market adjustment. There are more clear investment opportunities than doing nothing at present, and continue to wait and see the market Change comes stronger.

"Okay!" After pondering for a while, Liu Xin nodded, "Follow your ideas."

In the hands of Fang Xinsheng, the company's "Manniu No. 1" fund was once able to top the annual performance list of private equity funds, which made his fund company famous in the domestic private equity industry. From the bottom of my heart, Liu Xin felt sorry for this man Well-known fund managers poached from public offering institutions are still very trustworthy.

During the conversation between the two, the discussion of the market continued, as did the hustle and bustle of the bull market.

And at night...

This clamor and voice became louder and louder, and investors' expectations for the market outlook became more and more intense. In the minds of many investors, tomorrow's market and the stocks they own are already in their minds. Both daily limit, hitting new highs, and new highs.

"Still intensifying market sentiment, regulators...is this too urgent?"

Seeing the successive benefits in the evening, even Sun Yu, who has always been relatively calm, couldn't help complaining in the group at this moment: "Don't they know that they can't eat hot tofu in a hurry?"

"Mr. Sun, your complaints are not on point!" Zhao Qiang saw Sun Yu's complaints in the Yuhang main hot money group where Su Yu was, and couldn't help but replied with a smile, "The domestic market is a purely long market. It’s good, isn’t it? How nice it is for everyone to make money in harmony!”

Sun Yu replied: "What do you think, the good will go up?"

"Good news doesn't necessarily go up." Zhao Qiang replied, "But it's better than bad news, right?"

"The current market sentiment is already like a pot of boiling water." Sun Yu did not refute Zhao Qiang, and continued, "Adding more firewood to heat up, can't increase the water. In fact... as long as there is a profit-making effect, the emotional side There is no need to stimulate at all, the biggest difficulty in the current market is incremental capital.”

"Without the continuous entry of incremental funds, the basin of water in the market will soon dry up."

"At that time, the long-short situation will inevitably reverse."

"Then it doesn't seem to have much to do with our group of short-term speculators?" Zhao Qiang said, "It doesn't matter if the bull market comes or not, it's still the same to make money."

"The bull market is here, everyone's risk tolerance has improved, and there are more funds willing to chase high and follow suit, which is still very beneficial for us to make orders." Sun Yu then replied, "Otherwise, when market sentiment and prices are sluggish, Pull one day, smash the next day, without continuity, it’s no fun.”

"Hey, I thought the market had come to this point..."

"As long as the regulators guide them correctly, they can spark a bull market. As a result, looking at it now... I really overestimated them."

"Mr. Sun thinks the market needs to be adjusted?" Others in the group asked.

"There is a high probability!" Sun Yu replied, "Incremental funds can't keep up, and there are not so many people who take orders with high chips. If more and more people realize this, the profits will be smashed. If the market can’t handle it, the market will be over immediately.”

"Mr. Sun is starting to be bearish on the market, so you should be careful."

"I also feel that the turnover has not been increasing, which is a relatively big problem. Everyone knows that if there is no volume, there will be no market."

"Hua Qingbao was smashed today, it should be a signal, right?"

"The core stocks related to 'mobile Internet' and 'smartphone industry chain', not to mention the previous waves of hype, the average increase in the wave from the end of September to the present has also been 9% to 30%. There are no stocks in the market that can only rise but not fall , I think...the index is 50 Lianyang, and it is indeed time to adjust, but I think...it should be a benign adjustment."

"Boss Su's 'Yuhang No. 1' fund chip should not be out of the market, right? Then there should be no need to worry too much."

"The two main concept lines of 'Mobile Internet' and 'Smartphone Industry Chain', the short-term increase is indeed too large, there is a need to adjust and clear up profit margins, but the concept of 'restructuring backdoor' should still have a lot to do? Xinwei The group exceeded expectations, tonight Rongshun shares also reported the successful reorganization with Sanqi Game Network Company, and it is estimated that trading will resume soon, which should also have a more obvious catalytic effect on the line of "restructuring and backdooring."

"There are also Sanlaida, which has been suspended from trading, and Regenerative Technology Company, and there are also clear signals."

"If the two main lines of 'mobile Internet' and 'smartphone industry chain' are adjusted, the concept of 'reorganization and backdoor' should be able to undertake the funds from these two main lines and form a high-low switch in the market, right?"

The news in the group keeps refreshing...

Although Sun Yu expressed a relatively pessimistic view that he is not optimistic about the market outlook, most of the hot money in the group still think that even if the market adjusts, it is just a benign adjustment, and there is nothing to be afraid of. The foundation, the essence, still exists.

Therefore, only a very small number of individual investors in this market began to consider risk issues.

And the whole market, the overall investment sentiment, is still passionate and upward, very hot.

The next day, October 10th, Wednesday, the Shanghai Stock Exchange Index, Shenzhen Index, and ChiNext Index still opened higher and continued to hold high.

And in the next few trading days...

In addition to an adjustment in the middle of the GEM index, it has refreshed its historical high all the way to 1360 points.

During this period, the market investment sentiment has been stimulated to the point of frenzy. In the entire market, except for a very few investors, no one believes that this is not a bull market.

Moreover, in addition to the index, the performance of individual stocks is even more extreme.

"Mobile Internet" and "smart phone industry chain" line, related core stocks.

With the tyrannical posture of "no daily limit, non-stop price increase", Hua Qingbao hit the price all the way to 96 yuan, which is only one step away from the [-] yuan mark.

Wangsu Technology reached the 130 yuan mark in one go, and its market value exceeded 250 billion, firmly sitting on the throne of the most expensive stock on the ChiNext.

The stock price of Fenda Technology reached as high as 90 yuan, and the institution is still increasing its position at a high level.

The stock price of Huayi Brothers hit the highest price of 48 yuan; the stock price of LeTV reached more than 50 yuan, and the market value also broke through to around 250 billion, which is comparable to Internet speed technology.

The concept of 'backdoor reorganization' is related to core stocks.

Xinwei Group launched at the height of 15 consecutive boards, and then, after a short adjustment, was fired by hot money again, making Xinwei Group's market value exceed 800 billion at one time, comparable to Unicom Group, which is listed on the A-share market.

The successful reorganization, followed by the resumption of trading of Rongshun shares, on the day of the resumption of trading, with the concept of 'mobile games', there was a miracle of closing funds, which was twice as much as the circulating market.

The reorganization of Hilong Software and [-] Network Technology Co., Ltd. was just rumored to be rumored, and it was wildly hyped by hot money in the market, and the daily limit was pulled five times in a row.

Other non-mainline concept stocks...

Like Potential Hengxin, because of the good contract of Sun Company, it has also gone out of five one-word daily limit in a row.

"How much bargaining chips do we have left in the two main concepts of 'mobile Internet' and 'smartphone industry chain'?" On Wednesday, October 10, when the market conditions were still extreme, Su Yu stared at the market. A group of popular stocks such as Huaqingbao, Wangsu Technology, Changqu Technology, LeTV, Huayi Brothers, and Fenda Technology, which have hit a record high, but have obviously been weak in succession, asked Li Meng, "What is the trend of the market?" The time window should be over."

"There is a total of 6.68 million chips left, which have not been reduced." Li Meng replied, "Most of the chips have been quietly withdrawn."

"Okay!" Su Yu said, "Then send a clear signal!"

Li Meng responded, and began to issue orders for the final large-scale collective exit and take profit, so that traders cut off the last positions on the two main concepts of 'mobile Internet' and 'smartphone industry chain'.

At the same time... After Su Yu glanced at the opening board, he is still fluctuating around two or three points of increase, and the stock price is hovering at the potential of 13.35 yuan. Tens of thousands of funds were sent out one after another.

Immediately afterwards, the next second...

The core stocks of the concepts of "Mobile Internet" and "Smartphone Industry Chain" that were sold off on a large scale by the "Yuhang No. 1" fund have dived one after another, and the market trend has also changed dramatically!

(End of this chapter)