The investment era of rebirth

Chapter 269 True and False Bull Market!

And after Dongfang Ventures closed the daily limit in seconds.

In the securities sector, Orient Securities also ushered in a large number of large orders in an instant.

"It seems that the market has formed the expected inertial thinking we want." Seeing that Orient Securities has followed up with the changes of Orient Ventures, and has rapidly exploded in volume, Li Meng said very happily, "Zhezhou Dongfang, Dongfang Ventures, and Orient Securities Stocks have already formed a linkage, and there is a great tendency to become the leader of the main line concept!"

"Yeah!" Su Yu nodded slightly, "It's a linkage, but how the continuity and how the hype will be fermented remains to be seen."

The creation of a concept faucet is not so easy.

Although the attention and popularity of these checks have risen, they still lack some momentum in driving the sector of the "securities and venture capital" sector. We have to wait for the concept of "securities and venture capital" to continue to advance. Market sentiment After further fermentation, the vanguard and leading role of these checks has been generally recognized by the majority of investors in the entire market, and only after passing the threshold of "three boards becoming a demon" can we have the capital of a leading concept.

"The market sentiment is still good today, and the news of the restart of the market's IPO has obviously not spread from the inside to the outside, and it cannot affect the market sentiment." Li Meng said, "In addition, we continue to buy seats on the 'Wealth Road' Blessed by the news, these checks have a very high probability of becoming the leading concept in the main hype line of 'securities and venture capital'."

"It all depends on the actual trend of the market!" Su Yu said with a smile, "No matter how the market evolves, as long as the main line of hype is on the line of 'securities, venture capital', then there is nothing to worry about."

Nearly 80 billion funds were spread across more than 40 stocks in the line of 'securities and venture capital'.

Regardless of the main line of speculation in the end, which check comes out, as long as they can drive the entire market line and open up new heights, then they will be the biggest profiteers in the market.

"Judging from the general bull market expectations in the current market, the logical support of the concept of 'securities and venture capital' is still very solid." Li Meng said, "The market was too fast yesterday, and many investors obviously did not keep up. The investment sentiment in the field of 'securities and venture capital' is still fermenting, depending on the situation... the market in this line has obviously not reached the peak of sentiment, and there is still room to rise."

"but……"

Li Meng paused, looked at the potential balance letter in the market, which had already reached the daily limit for eight consecutive boards, and continued: "You bought the check for potential balance letter with the Fusheng Road seat, the trend is abnormally strong, from the good news Since the announcement, there have been 8 consecutive boards, and there is no obvious discrepancy."

"I really didn't expect that the highest space board in the current market is actually a stock that has nothing to do with the main market."

"After all, it is a 30-year contract involving billions of dollars and bound to Huaguo CNOOC." Su Yu said, "Such a contract is enough for small and medium-sized enterprises to come back to life during the downturn in the industry, so ... There is still room for expectation and imagination, and of course, being able to get out of the 8-piece board is indeed somewhat beyond expectations."

"In the past, the market felt that there was no room for hype in petrochemicals, but now the potential trend of Hengxin has clearly exceeded the market's general expectations. Then..." Li Mengmeng thought for a while, and said, "Do you think that the only 8-linked stock in the market can drive the petrochemical sector? Shall we take a walk?"

"I know what you are worried about." Su Yu smiled and said, "You are worried that if the main line of the market is scattered, based on the current market turnover, the market height of the line of 'Securities, Venture Capital' will be affected by Active funds in the market have been dispersed, and the power to undertake has weakened, thus further suppressing the height of speculation.”

"En!" Li Meng replied, "I'm worried about this."

Su Yu smiled and said: "There is no need to worry about this at all. The skyrocketing logic of Potential Hengxin's check is caused by the company's long-term large order contract and changes in fundamental expectations, not caused by changes in the fundamentals of the petrochemical industry. Yes, without any reproducibility."

"So, its positive and better-than-expected performance can't drive the entire sector at all."

"But the outbreak of the market line of 'securities, venture capital' is completely different."

"The hidden good is the resumption of IPOs in the market. The bright good is that the bull market is coming, the market turnover has increased month-on-month, and brokerage and venture capital businesses will all increase month-on-month."

"This is across the industry, there's been a clear shift in expectations amid changing macro conditions."

"The market that eventually led to the outbreak."

"The logic of the underlying hype is different, and the continuity and explosiveness of the market are naturally different."

"There is also the difference in expectations..."

"Before the market was devastated by the bear market for many years, coupled with the suspension of IPOs in the market, the brokerage business, listing sponsorship business, and self-operated investment business of securities companies were hit hard, and the market did not expect it, so the valuation fell again and again. lagging behind the market.”

“But right now, the market is widely expected to enter a full-fledged bull market.”

"Even many people already think this is a bull market."

"That is a complete change in basic logic and expectations for securities and venture capital stocks that are far behind market trends."

"It is because this industry has sufficient development flexibility and performance explosion potential."

"This is the basic reason that supports the full-scale outbreak of this market line and the continuous rapid attack by market funds."

"And what we want..."

"It is hoped that before the market's "bull market outbreak" expectation is not falsified, with the help of this expected change in the "securities and venture capital" sector, the market conditions and sentiments will be hyped to the extreme, and before the market IPO restart news comes out, harvest to substantial profits."

"Okay!" Li Meng replied, "Maybe I'm thinking too much."

Su Yu said with a smile: "Suddenly, with 80 billion funds invested in the market, even small market fluctuations will result in profits and losses of around [-] million. It is normal to be under a lot of pressure, but anxiety can't change anything. ... We are in the trading market, and when necessary, we still have to learn to face it indifferently."

"Facing it coldly?" Li Meng murmured.

Su Yu nodded and said: "Yes, facing the market indifferently, as long as you feel that your analysis and logic are correct, and the current actual trend of the market is in line with your expectations, then you can just carry out the established plan indifferently, and don't think too much about it. If there are too many, just treat it as... investing money, it’s just a simple numbers game.”

Why do most investors in the market have a huge performance gap between the real offer and the simulated offer.

It is the mentality problem that makes them think too much in the actual operation, and look forward and backward to seek the so-called "optimal investment", and miss both the buying opportunity and the selling opportunity.

"Okay, I'll give it a try!" Li Meng calmed down and replied.

In fact, the more she traded together, the more she found that she was far behind Su Yu in terms of trading and market analysis.

Faced with such a large-scale investment of the company's funds in a single main line market, she can't help but feel anxious, think about many, many completely unnecessary risk issues, and feel anxious about every point of fluctuation in the company's fund's net value.

But Su Yu won't.

In her eyes, Su Yu was extremely calm and decisive when implementing trading plans and formulating investment strategies.

No matter whether the investment is 1 million, 10 billion, or 50 billion, it seems that for Su Yu, there is no difference at all.

While the two were talking, the time had passed 9:35.

'Securities, venture capital' related concept markets are still exploding rapidly. Among them, 'Orient Securities', which is their core attack, also hit the daily limit at this moment, and the turnover exceeded 5 million in 8 minutes, and after hitting the daily limit It was sealed by lightning and became the first daily limit stock in the securities sector today.

And after Zhejiang Dongfang, Dongfang Entrepreneurship, and Dongfang Securities all had their daily limit.

In the concept field of "securities and venture capital", hundreds of stocks almost collectively rose, and the surging active funds poured into the concept sector of "securities and venture capital" from other sectors of the market like a tide, causing this The investment sentiment in the field has risen again, and various investment groups are rushing to follow suit and emerge in endlessly.

And with securities, a sector with a very high index weight attribute, the explosive volume has skyrocketed.

The Shanghai stock index was also quickly pulled up at the beginning of the session, with an increase of more than 1%, and the index point reached above the 2370 mark.

"The volume has increased compared to yesterday, and the market shows signs of diverging to more concept-related sectors and stocks. It seems... the continuation of the market line of 'securities, venture capital' has come out." Yanjing, at this moment Inside the Shenhua Fund, Lin Zhaoye, director of the Fund Management Office, laughed and said, "The news of the IPO restart in the market, the internal resolution is completed, and it is estimated that it will slowly spread to the market next week. , get 20% to 30% profit?"

"There should be no problem." Chang Li, the main product fund manager, stood beside him and said with a smile, "As Director Lin expected, after the full participation of hot money, the market has obviously intensified faster. This is only the second day. This main line of the market has signs of a comprehensive spread.”

Lin Zhaoye nodded and said, "This proves that the funds of Fortune Road have a great influence on retail investors and hot money in the market!"

"It's not small." Chang Li said, "It's a pity that the vision is a little worse."

In his opinion, Fortune Road and various hot money in the market follow the logic of the bull market, and quickly pursue the hot main line of 'securities and venture capital', which is to make wedding clothes for institutions like them, so... from the heart Here, he doesn't think that the funds of Fortune Road are any great in terms of market transactions.

"The newly established private equity institutions are inferior in terms of information channels." Lin Zhaoye said, "But their hype techniques are still very aggressive."

"Look at the changes in the market this morning..."

"With the positive release of Zhezhou Dongfang, the funds from Fortune Road should also increase their positions in the two stocks of Dongfang Venture Capital and Dongfang Securities."

Chang Li nodded and said, "I reckon that this channel of funds is also continuing to increase its positions. When Zhejiang Dongfang announced its good news, it can focus on the hype of the 'Oriental Department' and build up Orient Securities and Orient Ventures." It is true that he has some talent for short-term speculation, but he forgot that he is not the main force controlling the key stock of 'Oriental Securities'."

"Let's continue to wait..."

"Wait for the funds from Fortune Road to come in, help us to stir up the market sentiment to the highest point, and also help us completely open up the stock price space of Orient Securities, which we have a heavy position in."

"Then we can take advantage of the moment before the news officially comes out, and completely harvest the funds."

"Once this fund is smothered on the market after being heavily involved, the premium space and influence of his seat in subsequent market transactions will be greatly reduced."

Through the advantages of news channels, after occupying the market opportunities.

Especially in the stock 'Orient Securities', when I came across Fortune Road, Chang Li thought that I could use this stock to reap some gains in the current market. It has been admired by investors and even many industry leaders. Appreciating the funds of Fortune Road, I couldn't help but feel a surge of excitement in my heart.

After all, it is possible to knock down the 'Fortune Road', which is currently undefeated in market transactions.

It's still quite an accomplishment.

"Well!" Lin Zhaoye nodded slightly and reminded, "Everything must be based on seizing this opportunity and earning as much market profit as possible. It is possible to compete on the premise of being able to harvest profits perfectly. Yes, but don’t put the cart before the horse and forget the core.”

Chang Li replied: "On this point, please rest assured the director."

In the financial trading market, the only criterion for judging ability is the amount of profit.

For a fund manager, the most important thing is naturally the performance of the fund he is in charge of, so... Although he intends to compete with 'Fortune Road' on the stock market of Orient Securities, the ultimate goal is the key The core, he will never forget.

During the conversation between the two, the time reached 9:45.

There have been new changes in the market conditions.

I saw that the Shanghai Stock Exchange Index broke through 2375 points, and the increase expanded to more than 1.5%, setting a new high for this round of rebound again. At this moment, the overall increase of the securities sector has exceeded 3.5%. The daily limit, among them... the weight core leaders of the sector, Huaxin Securities and Huatong Securities both increased by more than 5%, and the turnover exceeded 10 billion one after another, continuing to increase in volume.

In the venture capital concept sector, there are also 6 gaining stocks at this moment. The overall increase of the sector is still higher than that of the securities sector, leading the gains of the two markets.

As for the core concepts such as 'Mobile Internet', 'Smartphone Industry Chain' and 'Restructuring Backdoor'.

Except for the sectors related to the concept of 'restructuring and backdooring' which are still falling, the others... After the sharp dive at the beginning of the session, they stabilized now and fell into sideways shocks.

"Fortunately, I woke up and reduced my position significantly!"

At this moment, Xu Zhongji couldn't help but let out a long breath in the trading room of Yuhang, Minghui Capital and the trading room when the market situation turned completely and formed a market pattern centered on the "securities and venture capital" sector. Luckily, he said, "If it wasn't for President Su's reminder, he would have been almost buried."

The main funds of their Minghui Capital are all heavily loaded with the concept of 'restructuring backdoors'.

At the same time, because of the explosion of the concept of "backdoor restructuring" after the end of September, their company's performance also exploded. Not only did they turn losses into profits, but they also made a lot of money, outperforming this year's index and large plate.

Of course, if Xu Zhongji hadn't understood quickly after Su Yu's reminder, he immediately made a strategic move to reduce his position and take profit.

Now I am afraid that almost half of the profit will be returned.

After all, their most profitable stock in this round of heavy holdings, namely Xinwei Group, has so far...but it has plummeted by 3 limit-downs from the highest point a few days ago.

"The line of restructuring backdoors should be considered completely over, right?" Fund manager He Hong responded.

Xu Zhongji saw that the top five stocks on the decline list of the two cities were all concept stocks of the line of "reorganization and backdoor". The second wave of hype, and the leading stocks can be abandoned by the funds, killing them like this. Naturally, other follow-up concept stocks are even less likely to have any market. Combined with the violent market reaction in the past two days, how sudden the market change is and Violently, it seems... what I guessed, the news about the restart of IPOs in the market, has a high probability of coming true."

Originally, he would not have thought of so much based on the change and continuous explosion of "securities and venture capital".

But combined with Su Yu's reminder...

In addition, the main line of the concept of "restructuring backdoor" suddenly collapsed across the board, and almost all the main funds in related concept stocks and concept sectors were fleeing regardless of cost, which forced him to think in the direction of IPO restart up.

"It's a pity that we didn't catch up with the line of securities and venture capital." He Hong said, "Compared with the low point of the previous two days, these two core sectors have risen by nearly 10%, and the core stocks are now Basically, the daily limit has been reached, and there is no way to intervene.”

"Give up, let's all give up!" Xu Zhongji thought for a while, and said decisively, "Clear all the funds of our company and carry out annual net value settlement. This year, it is enough to seize the big market of 'reorganization and backdoor'. Neither of us' A trading genius like Mr. Su of Yuhang Investment' is always happy with his contentment, and he accepts when he sees a good deal... It's okay. As long as the fund does not lose money and outperforms the market, it is considered a reward for investors who subscribe to our fund. Confessed."

"Recognize your abilities..."

"Sometimes, the golden mean is also a good policy."

"Clear all positions?" Fund manager He Hong was stunned before he realized, "What if...the market goes on to reach new highs, and it really turns into a full-scale bull market, then it will be even more difficult for us to enter the market."

"There are so many contingencies." Xu Zhongji said, "After thinking about it these two days, I still feel that the basic conditions for a bull market in the market are not sufficient. Didn’t the amount continue to expand? It’s still stuck at around 1200 billion.”

"Boss Su is right, credit is not wide, leverage cannot be afforded, and a bull market will not come."

"Old He, clear up..."

"It's easier for me to accept that a few of our company's products are finally profitable, and after the annual performance target is completed, the profits will be returned to the market, and the short-term bull market will be short-term."

"Okay!" He Hong thought for a while, although he didn't quite agree with Xu Zhongji's judgment.

But still honestly started to implement the strategy, and issued instructions to the traders to completely clear the stock chips in the fund account that could not be suspended and could be sold.

As Ming Fai Capital continued to refresh and rebound to new highs in the index, it unexpectedly cleared its positions and exited.

At this moment, in the trading room of Yinghui Fund, which is about the same size as Minghui Capital, at the "Future Investment" summit in Yanjing, Shanghai had met Su Yu and Xu Zhongji once, and after the summit, Liu Guanhai, the fund manager of the "Yinghui No. 1" product who yelled that he would never take orders at a high position, was yelling for traders to follow up quickly. The market price is the main buy, and the top-line securities stocks and popular venture capital stocks are chasing positions. Fund positions are raised.

"Xiao Shao, don't worry about the cost of building a position, buy, buy..." Seeing that Shao Xiaoyun, the leader of the trading team, hesitated, Liu Guanhai hurriedly urged, "Securities and venture capital continued to be full of riots, and the index continued to reach new highs, and the technical indicators were comprehensive. Passivation has already shown that the market has really entered the bull market investment stage on the right side, so why hesitate at this time? If you fill up your positions earlier, you will seize market opportunities earlier.”

"But the manager... I always feel that the market is a bit lacking in stamina." Shao Xiaoyun, the leader of the trading team, replied hesitantly, "Look at the concept of 'reorganization and backdoor', as well as the two major concepts of 'mobile Internet' and 'smartphone industry chain'. The popular main line concept in the early stage, as well as the index trend of the ChiNext.”

"They are all falling from their high positions!"

"Moreover, although the GEM index is still rising slowly, the core constituent stocks in the GEM have no longer reached new highs."

"In the entire market, only the 'securities and venture capital' that have continued to turmoil have a strong profit-making effect. Even the line of 'oversold rebound' that showed an obvious profit-making effect yesterday has declined at present and has not shown any persistence."

"These... are not signs of a full-blown bull market!"

"Also, more importantly, the enlargement of the market turnover is very limited. I feel that the market is still in a state of stock game. In this state, once the weight is concentrated and the index is raised, it will not be stable."

"The annual growth rate of the ChiNext Index is more than 30% higher than that of the Shanghai Stock Exchange Index. It was time to pull back and wait for the Shanghai Stock Exchange Index to catch up." Liu Guanhai completely disagreed with the analysis and judgment of the trading team leader Shao Xiaoyun, emphasizing, "It has been around the concept of speculation on the ChiNext Board. It cannot last long, only when the core main force returns to the Shanghai Stock Exchange Index and builds stronger confidence in the bull market through the 'securities, venture capital' and even the entire 'big finance' sector, can there be a further outbreak of a comprehensive bull market."

"And at this moment... all this is happening."

"As for the limited increase in transaction volume, this is already normal, because the market's confidence and increase are gradually expanded as the bull market advances step by step, and the level-by-level expansion cannot be achieved overnight."

"I had the same thought as you before. I thought the market was rebounding, not reversing."

"But the result..."

"After the National Day, the whole market was lost."

"Now the index has completely crossed the resistance position, recovering all the lost ground in the first half of the year, and the ChiNext Index has hit a record high."

"Under such circumstances, especially when market confidence has been fully restored, and various large institutions have continuously increased their positions in core concepts and core sectors for many consecutive days, if we still adhere to a conservative strategy, we will keep our fund positions at a relatively low level. The position is very low, not only does it not think about making progress, but it is also irresponsible to all investors who apply for our products.”

"Securities and venture capital have changed from the bottom, and the volume has increased rapidly, with a large inflow of funds for two consecutive days."

"As long as the market is fully bullish, there is a slight possibility."

"Now, it is the best opportunity to increase positions in these bull market's best beneficiary sectors, the most core bargaining chips."

"Buy it..."

Liu Guanhai repeated again: "The leading stocks of first-line brokerages, the core venture capital concept stocks I marked, bought regardless of cost, we have fallen behind in terms of strategic response, and at this moment... we can no longer fall behind."

Hearing Liu Guanhai's voice became more severe, Shao Xiaoyun continued to hesitate for a moment, then nodded.

Quickly issued instructions to the traders, and put the trading funds in their hands into the market, and bought Huaxin Securities, which had already reached 6.5% at the moment.

And in the complete opposite of Yinghui Fund and Minghui Capital, large-scale full position buying.

The time passed 10:20.

The stock index rose by more than 2%, and the securities sector and the venture capital concept sector rose by about 5%. In the direction of the board, except for those that can catch up with the concept of securities and venture capital, for example, many stocks in "Internet Finance" have shown some performance, and the others are all showing a state of adjustment for capital outflows.

(End of this chapter)