The investment era of rebirth

Chapter 268 The Last Chance to Retreat!

"Any questions?"

Hearing Lin Tingzong's complaints, Gu Chijiang asked.

Lin Tingzong replied: "According to common sense, such good news cannot support the trend of Zhezhou Dongfang. It would be good to have a 5% higher opening at most. What's more, this check was fired by hot money yesterday for a daily limit. It's a good response, but I didn't expect... Mr. Gu, in the past two days, the core funds in the market have overreacted to the concept of 'securities and venture capital'!"

"Market sentiment and confidence in the bull market have risen, and the index keeps hitting new highs. At this time, it is normal for the main funds in the market to attack sectors that benefit from the bull market, such as 'securities and venture capital', to create higher market sentiment and space, and to consolidate confidence in the bull market, right? "Gu Chijiang said, "The hot money is focusing on the concept stocks led by the GEM. The institutions can't get the right bargaining chips, and they are unwilling to take over the market at a high level. Therefore, they attack from another logical line, snatch the active capital flow in the market, and create a continuous market. , earn excess profits, it also makes sense."

"However, the current market turnover is slow to expand, and it is difficult to support the 'securities and venture capital' sector. Continue to advance!" Lin Tingzong said, "The securities riots are too early, and I feel that the funds of various institutions are eager for quick success."

"'Securities, venture capital' can't continue to advance, isn't it just right?" Gu Chijiang said with a smile, "If the market turns around like this, won't it turn back to the GEM?"

Lin Tingzong replied: "Not necessarily, when the market turnover cannot continue to expand, the incremental funds cannot keep up, which means that the market is still a stock game, and the stock game market has relatively limited active funds. If this part of funds If you are trapped in the market line of 'securities and venture capital', the two main lines of 'mobile Internet' and 'smartphone industry chain' will become even thinner."

"and……"

Lin Tingzong paused, and said: "The current market is completely supported by a wave of emotions."

"It is the continuous money-making effect of the market that is constantly motivating investment sentiment, so the continuous market that has come out has sustained incremental capital entry."

"If the hype line of 'securities, venture capital' fails."

"That is, the continuous profit-making effect of the market can no longer continue, then the investment sentiment in the market will quickly ebb, and a drastic adjustment... I am afraid that it will come."

"I think it's a bull market..."

"But this is only the first stage of the market's continued bullish movement, that is, market sentiment and prices are in a cycle of getting rid of the shadows of the past and slowly recovering confidence."

"The market, which is slowly recovering in confidence, is relatively fragile."

"In everyone's heart, although they have good expectations for the future market, but at the same time... they are also skeptical in their hearts, and they don't have too much self-confidence."

"In this case, once the market's money-making effect declines, there will be an obvious adjustment signal."

"The market confidence established during this period of time is very easy to collapse, and the market will return to the sideways and volatile situation in August and September."

"So... what are your plans?" Gu Chijiang paused for a while before continuing to ask.

Although he doesn't fully agree with Lin Tingzong's opinion, he also feels that the risk point he mentioned still exists.

If the line of "securities, venture capital" goes completely below expectations and traps a large amount of active funds currently following the trend, it will indeed not be a good thing for the evolution of the entire market.

Lin Tingzong thought for a while and said: "I think the underlying logic and continuity of the line of 'securities and venture capital' are far inferior to those of 'mobile Internet' and 'smartphone industry chain', so we don't need to lose the opportunity Under the circumstances, at this time, go to chase positions and do more.”

"However, changes in the trend of this line are extremely important to the overall market trend."

"So, although we are not involved, we must pay close attention."

"If this line opens up market space, further enhances the confidence of the market, and makes the thesis of the bull market deeply rooted in the hearts of the people, then we will take advantage of this line when the hype is at its highest, and transfer the last liquidity of our fund to Then enter the two core lines of 'mobile Internet' and 'smart phone industry chain'."

"If this line goes completely below expectations, there is no sign of continued expansion of market turnover."

"That is, if this line fails to create a new profit-making effect and further enhance the market's confidence in the bull market, then we... will start to reduce the position, quickly reduce the fund position to a low level, and welcome the market adjustment."

"Overall, here should be the key point of divergence in the market's trend."

"We must remain optimistic, but at the same time be alert to risks."

"You just have to be prepared for defense, and you can't aggressively increase your position any more, right?" Gu Chijiang understood, "Since that's the case...then wait on the sidelines first, don't do anything, and take a look at the next two positions in the market. Change the trading day!"

"Okay!" Seeing that Gu Chijiang agreed to his suggestion, Lin Tingzong couldn't help nodding with a smile.

Then, he quickly turned his attention back to the trading prices of the two cities.

I saw... as the two of them were talking, the time had reached 9:19, and the two cities were about to enter the real call auction for irrevocable orders, and the overall market conditions changed within a few minutes, compared with the initial call auction. When it comes to bidding, it's no different.

"The market is so good. It has been adjusted for two consecutive days. It is impossible for it to fall today, right?"

At the same moment when Lin Tingzong and Gu Chijiang were talking, in the office of the company's market analysis department next to the two, Mu Yao was staring intently at the stock price changes of "Hua Qingbao" on the computer screen, as well as his own leveraged stock account Regarding the changes in funds, I prayed secretly: "After two days of adjustments, we have already touched the 10-day line, and this guy from Fortune Road did not sell yesterday. The market sentiment should pick up, and we should be able to...restart the upward trend and make new highs." !"

The strong are always strong...

In yesterday's market trend, he failed to catch up with the 'securities, venture capital' market, but transferred almost half of his holdings to 'Huaqingbao', the most popular leading stock in the 'mobile Internet' field , want to do a wave of 'dragon back' market.

Moreover, similar to Lin Tingzong's thinking, he doesn't think the current market is capable.

It can support the continuous breakthrough of the line of 'securities and venture capital'.

In his view, the most core mainline of the market, the field with the most room for imagination and expected performance explosion, is still the conceptual sectors related to 'mobile Internet' and 'smartphone industry chain'. He thinks that in the short term... no matter how the market changes In the end, the market still has to return to 'mobile Internet' and 'smart phone industry chain'.

And in the early stage of the bull market... only the model of "weights set up the stage and small tickets sing opera" can gather market sentiment to the maximum extent and create a continuous profit-making effect, thereby completely reversing the market trend and making this bull market concept, go deep into the minds of investors.

however……

The idea is good, but the actual market trend is completely different.

As the time entered 9:20, after a large number of false pending orders were withdrawn, several major core concepts such as 'mobile Internet', 'smart phone industry chain', 'restructuring and backdoor', and other core concept stocks were further strengthened. Abandoned by market funds, the decline expanded instantly.

Among them, Mu Yao stared at 'Hua Qingbao'.

At the moment when the time just crossed 9:20, it was sold off by a main force of tens of millions of dollars on the market, and the decline fell from 0.87% to 2.23% in a flash.

"What the hell... I'm sick!"

Seeing Hua Qingbao's weak call auction trend, Mu Yao couldn't help but swear.

He didn't understand that the call auction trend in the whole market was obviously very good, and Hua Qingbao's adjustments were quite sufficient in the past two days, so how could he be so weak against the market.

"The market is obviously still going up today. The guy who smashed the market...is his parents dead?" After swearing, he still felt aggrieved in his heart, "I don't believe it anymore, you adjusted it in advance It’s more than a dozen points, and in the case of the index’s new high, can it continue to underperform the broader market index?”

He originally pointed to the stock 'Huaqingbao' to turn over.

Now that the ticket has not gone as expected, he is really upset.

Of course, what is even more disturbing is that the stock index has rebounded to a new high, and the market value of his stock account has returned to 3 million yuan, and all profits have returned to zero.

With his complaints and depression, time continues to move forward...

'Securities, venture capital', the new main line of speculation, continues to be favored by funds; 'Mobile Internet', 'smart phone industry chain', 'restructuring backdoor', 'Shanghai Free Trade Zone' several hot concepts in the early stage The main line also continues to ebb, especially the line of "reorganization and backdoor". The reason for the trend.

Finally, at 9:25, the call auction of the two cities ended.

The Shanghai Index opened higher at 0.79%, and the ChiNext Index opened higher at 0.23%. Among them, the Shanghai Index hit a rebound high, and the index point crossed the 2360 mark.

Plates, individual stocks.

The securities sector opened 1.36% higher, core stock Orient Securities opened 4.78% higher, and the call auction turnover exceeded the 1.5 million mark, with extremely intense trading; Huaxin Securities and Huatong Securities both opened about [-]% higher.

The venture capital concept sector opened 1.59% higher, and the core popular stock Zhezhou Dongfang opened at the daily limit, an increase of 10%. The entire call auction only sold 796 million yuan, which is basically an infinite one-word board, and the closing capital is more than 30 lots. It is equivalent to the circulation plate of Zhezhou Dongfang, which can be said to exceed market expectations.

Influenced by Zhejiang Dongfang's high opening, the check of Dongfang Venture Capital was also attacked by funds, and finally opened at a high position of 6.83%, which is likely to continue to rise by the limit.

Other popular stocks, such as Zhangjiang High-Tech, Shibei High-tech, Zijiang Enterprise, Luxin Venture Capital, Tuozhong Stock, etc., opened higher by more than 3%, significantly stronger than the index and sector gains, and the willingness to rush to raise funds. Very obvious.

'Mobile Internet' related concept sectors, such as 'Mobile Games', 'Internet Finance', 'Mobile Payment', 'Smart City', 'Internet Information', 'Network Security' and other series of sectors, are all in a low opening state. The core popular stocks in its related sectors, Huaqingbao opened lower by 2.83%, Changqu Technology opened lower by 2.11%, Huake Jincai opened lower by 1.81%, Flush opened lower by 1.13%, Oriental Fortune opened lower by 0.76%, and Tianyu Information opened lower 1.56%.

The performance of related concept sectors of 'Smartphone Industry Chain' is similar to that of 'Mobile Internet' related concept sectors.

Among them, especially the "Apple Industry Chain" and "Wearable Devices" sectors suffered heavy setbacks. The core popular stocks, Anjie Technology fell 2.51%, and Fenda Technology fell 3.11% to open the market.

As for the 'restructuring backdoor' concept section.

Today, it was completely abandoned by funds and directly led the decline in the two markets.

The concept stocks that were hotly speculated by various funds in the early stage, such as Lianxin Yongyi, Weihua shares, Tianrui Instruments, Hilong Software, Far East shares, etc., all opened with a drop of more than 2%, especially the market that has just hit 15 consecutive boards. According to records, the listing has risen by more than 400%, breaking through the market value of 800 billion in one fell swoop, and the "Xinwei Group", which is almost comparable to the market value of China Unicom Group, has also been abandoned by the main funds, and it directly opened with a drop of 6.37%, which is likely to continue to fall. Potential.

"Funds active in the market are further flowing out from the main lines of popular concepts such as 'mobile Internet', 'smartphone industry chain' and 'restructuring backdoor', and are rapidly pouring into the field of 'securities and venture capital'!" Seeing such The opening of the two cities, Yuhang, inside the 'Yuhang Investment' company, in the trading room, Li Meng reported to Su Yu, "The changes in the market today may be more dramatic than yesterday."

Su Yu nodded slightly and said: "This is for sure. As the news of the IPO restart in the market spreads more and more widely, smart funds from all walks of life in the market will definitely quickly reduce their positions in 'mobile Internet' and 'smartphone industry chain' , 'restructuring and backdoor', which have been overhyped in the short term, have been transferred to the defensive sector and the beneficiary sector of 'IPO restart'."

"The more 'market IPO restart' the message becomes clearer."

"The more serious the main capital flees from the GEM, the higher the 'mobile Internet', 'smartphone industry chain', and 'backdoor restructuring' are."

"Expected overdraft, coupled with the potential heavy bearish strike."

"At this time, there should be no major players who dare to venture into the major conceptual fields of 'mobile Internet', 'smartphone industry chain', and 'backdoor restructuring'."

"Of course, the overall investment sentiment and confidence in the market are currently quite good."

"Until the news of the market's IPO restart officially hits, it will obviously be able to continue to stabilize."

"So, even if the smart main funds in these areas of popular concepts in the early stage are already retreating in an all-round way, but with the support of a large number of retail investors with lagging news and relatively solid thinking, it is not so easy to fully grasp the main lines of these popular concepts in the early stage There was a crash, a sharp drop."

"Well!" Li Meng nodded and said, "For many main funds that are still heavily invested in the core areas of 'mobile Internet', 'smartphone industry chain', and 'restructuring backdoor', the current time window should Is this the last chance to retreat?"

"That's right." Su Yu said, "It's just that I don't know how many people can realize it."

Investors in the market, the vast majority, have path dependence.

Although the index is still at a new high in the market at this time, the style change of the market and the direction of capital flow have begun to become clear. The so-called risk points have begun to become prominent. Blinded by the fiery money-making effect.

Even if there are many investors who are dimly aware of something wrong, it may be difficult to let go of their greed for profits.

Withdraw at this time.

"No matter how many people there are, it has nothing to do with us for the time being." Li Meng smiled, no longer feeling emotional about this question, and instead asked, "Zhezhou Dongfang's opening trend today is somewhat beyond expectations, just as you expected before... …The major funds in the market have increased their expectations for this check, and their intention to grab funds and hype is very obvious, and there is a high probability that Zhejiang Dongfang Group itself will add fuel to the fire, further catalyzing the market's speculation on this stock .”

"In this case..."

"The 'Oriental' stocks such as Orient Securities and Orient Entrepreneurship that we dominate have opened up space."

"I'm thinking, now we should continue to quickly and proactively grab funds, pull up rapidly, and continue to intensify the market trend of these stocks, or wait on the sidelines, exacerbate the turnover of these stocks, and allow their internal chips to be adjusted more fully?"

Su Yu replied: "As long as the market's IPO restart plan is determined internally, the news will spread very quickly. Regardless of 'securities, venture capital', there can only be a wave of popular trends. We have no continuous hype time, and the market is hot. It is impossible to maintain the current state after the news of the restart of the IPO spreads widely.”

“So, while the market is still in a bullish fantasy.”

"Still in the midst of an extremely hot follow-up effect."

"Then we must burn this fire to the extreme as soon as possible before the news officially comes out."

"You don't have to wait for the internal chips to fully change hands. After the opening of the market...the big orders will be bought directly. The more intense the better, at this time...the speculation is a burst of anger and confidence."

"The stronger the performance of individual stocks and sectors, the stronger the follow-up effect of funds will be."

"and……"

Su Yu paused, and there was a sharp light in his eyes: "The more urgent we buy, the more major institutions in the two major fields of 'securities and venture capital', as well as the majority of market investors following the trend, think The main positions of our fund are not in these two fields, so that they can continue to follow up and carry the sedan chair for us.”

"Understood!" Li Meng nodded.

Then, according to Su Yu's intention, he quickly gave trading instructions to the two trading teams.

With the order issued, at this time, 9:30 has arrived, and the two cities have entered the official trading session.

I saw... At the moment when the market bounced again, more than 2 million funds in 'Yuhang Investment' were instantly poured into the disks of 'Oriental Securities, Oriental Ventures, and Shibei High-tech'.

Immediately afterwards, it took only ten seconds.

Dongfang Entrepreneurship, in the form of a straight-line rise, bought it with a large number of orders, and immediately closed the daily limit, continuing to detonate the concept of "venture capital" market!
(End of this chapter)