The investment era of rebirth

Chapter 271 Gambler Psychology in Trading!

I saw that Fortune Road appeared on the five "securities and venture capital" concept stocks of Orient Securities, Orient Ventures, Shibei High-tech, Zhangjiang Hi-Tech, and Zijiang Enterprises, and they were all on the buy list. For the three stocks of Qingbao, Wangsu Technology, and Potential Hengxin, Fortune Road did not show up.

"I bought Orient Securities for 4300 million, I bought Orient Ventures for 2800 million, I bought Shibei High-tech and Zhangjiang Hi-Tech for around 1700 million, and I bought Zijiang Enterprise for 940 million. Sure enough... Fortune Road is still rapidly increasing its positions." Securities, In the field of venture capital, the future market is promising, the future market is promising!"

After the Dragon and Tiger list was refreshed, the discussion voices in major stock forums and communities in the market became more intense and popular.

"Wealth Road continues to lock positions in the two core stocks of 'Huaqingbao and Wangsu Technology', and the potential Hengxin to buy by using Fusheng Road is also in a state of lock-up, haha... greatly exceeded expectations, greatly exceeded expectations. , Fortune Road continues to buy net, and the market will definitely rise next Monday.”

"Net buying, and net buying again, Fortune Road should be using funds from the 'Yuhang No. 2' fund to increase its position?"

"Wealth Road's core weight concepts of 'Mobile Internet' and 'Smartphone Industry Chain', the two core weight concepts of the GEM, except for the wave of lightening up the day before yesterday, have not moved at all since then, and now Fortune Road is rapidly following up' In the field of venture capital and securities, this should show that Fortune Road is firmly optimistic about the market, right? It also shows that the main line of follow-up market speculation that Fortune Road most agrees with is 'venture capital, securities', 'mobile Internet' and 'smart phones' The three items of "industrial chain", after all, judging from the position data disclosed by Fortune Road before and the recent data of the market's dragon and tiger list, almost all of Fortune Road's holding chips are in these three areas."

"I also feel that Fortune Road is using the funds from the 'Yuhang No. 2' fund to increase its position!"

"Whether it is or not, at least Fortune Road's continuous net buying is good for the market, and it also shows that the current market is a bull market."

"Fortunately, I didn't follow the killing today!"

"Wealth Road is here with Dinghaishenzhen. I feel that next week' Huaqingbao, Wangsu Technology and other core stocks of 'Mobile Internet' and 'Smartphone Industry Chain' adjusted this week will definitely hit new highs."

"Emotions are not a point to reduce positions today, but a point to increase positions!"

"It must be the point of increasing positions. The limit of Huaqingbao and Wangsu Technology is a good time to buy bottoms. After all, the fundamentals of these two core stocks have not changed at all. The future expectations are still extremely strong. It will be sooner or later that they will hit a new high. things."

"Before the Dragon and Tiger List came out, I thought it was Fortune Road. As a result... Wealth Road has not been released at all. If you look at it this way... next Monday, Huaqingbao and Wangsu Technology must be reversed."

"There is also the potential and credit. With the blessing of the seat on Fusheng Road, this check has gone against the sky."

"The line of 'securities, venture capital', I am afraid that the market will intensify next week, right? Orient Securities and Orient Ventures will be listed on the third board on Monday. It should be a certainty."

"It's a pity that Huatong Securities does not have a dragon and tiger list. This core weight has exploded with a volume of nearly 40 billion today. I suspect that Fortune Road is also a big buy in this stock. After all, according to Fortune Road's current trading The amount of funds, just small-cap concept stocks, is simply not enough for him to buy."

"I also think that Huatong Securities is going so strong today, there must be a buying blessing from Fortune Road behind it."

"Wealth Road follows the field of 'securities, venture capital', and various institutions, judging from the Dragon and Tiger List, are also following the field of 'securities, venture capital', which should be enough to show that the line of 'venture capital, securities' is connected For a while, it will be the core thread of market hype, right?"

"That's for sure, without a doubt!"

"It's all said 'securities, venture capital' core stocks, let's look at doubling first."

"Netspeed Technology is also selling a lot of institutions today. It is estimated that these institutions have also increased their positions in the concept of "securities and venture capital" when they came out. From this point of view... everyone now fully agrees with the term "securities and venture capital" Hype the main line."

"Wealth Road and institutions are increasing their positions rapidly, and the various technical aspects of the index trend are very beautiful. There is no reason not to agree with the market of the line of 'securities, venture capital'!"

"After all, 'securities' is the vanguard of the bull market outbreak..."

"If the stock index is below 2500 points, any buying behavior should not lose money."

"This round of the market must have reversed."

"It has been adjusted for 6 years, and it is time to reverse."

"During the six-year adjustment, I have already lost 6%. If there is no reversal, I will lose even the final principal."

"I hope that this round of 'securities' market will explode more violently than in 07. This way...it will also give me a good breath of blood."

"The bull market is coming, I want to increase the leverage. If the leverage is below 2500 points, the risk should not be too big?"

"It's enough to have a full position with the principal, let's forget about the leverage. I think we can take another look. Although the current market conditions are indeed strong, the increase in market turnover from the previous quarter is actually a bit slow, and today the Shanghai Stock Exchange Index is a few I went back and forth to the 2400-point mark for the second time, but I still failed to stand at the end of the closing market, which feels like a hidden danger.”

"The GEM index failed to hit a new closing high in the end, and it is indeed a bit unsatisfactory."

"Leveraging can wait until the opportunities on the right side of the market become more and more obvious, but at this time...it is really impossible to maintain a defensive strategy, and the position must be added."

"Follow the road of wealth!"

"'Securities, venture capital' is a big concept sector, even if it lags behind the wealth road for a day, it should not miss too much opportunity."

"Yes, if you buy it on Fortune Road, I will buy it, if you sell it on Fortune Road, I will sell it!"

"Will the regulatory authorities continue to release good news on the weekend? I think there are a lot of funds rushing to follow up at the end of today's session."

"Regardless of whether it is positive or not, at this time, the market sentiment is not bad. As long as there is no heavy negative blow, the index will be able to rise by inertia under the impetus of market sentiment, and as long as the upward trend can continue for another month, it should be There will be a huge number of new investors entering the market.”

"Hopefully it will continue!"

"It will definitely continue. In fact, after so many years of bear market devastation, and the continuous fluctuation of the index between 2000 points and 2500 points, many of the bargaining chips at this stage have settled down, and the upward pressure on the index at this stage is not great. In addition, the ChiNext Index has reached a record high, and there is no pressure to hold on to the market, so... On the whole, even if the increase in market turnover is a bit slow from the previous month, the market should continue."

"The initial stage of the bull market is inherently hazy."

"Anyway, I think the market is at this position, which is already in the historically low range. After buying, even if the market changes and you can't make money, you probably won't be able to get deep."

"It's been so many years, and within a short while, I'll buy all the positions. Don't believe me, you can still set me up?"

With the passage of time, the topic of Fortune Road's continuous increase in buying on the Dragon and Tiger List, the topic of speculation about the market outlook, and the topic of whether the bull market is true or false... have been hot and continuing, and the emotions of the majority of investors, It is still high-pitched and extremely excited.

And during this time...

Yuhang, within Jingda Investment, Mu Yao, who has a five-fold leveraged position in Huaqingbao, Changqu Technology, and Netspeed Technology, does not look very good-looking, and is extremely depressed in his heart.

His personal account, with the blessing of large financing leverage, only took two days from a profit of more than 3000 million to a loss of more than 3000 million, and during the two days he went from a huge profit to a huge loss However, the market index has hit new highs in a row, which is... a devastating blow to his self-confidence.

"Obviously, this guy from Fortune Road didn't sell, and he still fell so hard, it's unreasonable." Mu Yao stared at the market that had been frozen for a long time, and said angrily, "These guys from the institution, when did they start chasing the rise and the fall!"

"I hope it will be reversed next Monday..."

"It must be reversed!"

He said to himself in his heart: "It's good news, the index is at a new high, and the market's investment sentiment is so intense, and it has been adjusted for three consecutive days. Why should we turn around and restart the upward trend?"

After the "Huaqingbao, Netspeed Technology" plummeted today.

His personal stock holding account is almost at the risk of liquidation. If there is another limit on the two stocks on Monday, his 5000 million investment will lose nothing at 5 times leverage, and now he... Under the macro situation where he has already lost a lot, and the index is still at new highs, and the market is very good, he can't bear to let him take the initiative to unload the leverage and keep the last bit of the principal.

In fact, when investors feel like a gambler, even if there is still a final retreat.

For the vast majority of people, there is no going back.

After all, at this time, it is their most instinctive thought to quickly make money with the help of leverage. After they have fully invested and suffered a large loss, the vast majority of people will not see the coffin or shed tears.

As Mu Yao was talking to himself, at this time, in the core trading room of Jingda Investment.

Fund manager Lin Tingzong frowned after reviewing today's market trend and the data of the dragon and tiger list: "It's really strange. Today, institutions are selling core stock chips such as 'Huaqingbao and Wangsu Technology'. Why are they selling so much? Urgency, and the concept of 'restructuring and backdooring', the ebb of funds is too much, right? Under this kind of market...Xinwei Group can kill three daily limits in a row, which is simply incompatible with the hot market sentiment and market conditions. what!"

"Also, the line of 'securities, venture capital' diverged too quickly."

"It's only the second day, and a full-scale explosion has formed. It feels obvious that funds are fully driving and leading, but Fortune Road is on today's list, and it has only bought a total of less than 1.5 million funds, which is less than yesterday For the most part, it's abnormal...very abnormal!"

"'Mobile Internet', 'smartphone industry chain', 'restructuring backdoor' and other popular mainline concepts in the early stage have indeed been very weak these days." Beside Lin Tingzong, Gu Chijiang continued, "But the market as a whole should be Isn't there any big risk there?"

"According to my previous judgment, I also think that the current market is in a state of comprehensive breakthrough." Lin Tingzong said, "But the violent dive this afternoon and the data performance on the Dragon and Tiger list at the moment make me less convinced Yes, I feel... There seems to be a shadow of potential risk in the market, which is restricting the entry of large funds and suppressing the upward trend of the market, but it is not clear where this shadow of risk comes from and what it is? "

"A kind of intuition?" Gu Chijiang asked.

Lin Tingzong nodded, and replied: "Yes, it's just an intuition."

"But we can't just adjust the fund's macro operation strategy based on pure intuition!" Gu Chijiang paused, "There must be a reason and logic."

Lin Tingzong thought for a while and said: "The high probability is that the market turnover has not been able to expand further. In recent days, the market has not been on the GEM at all. We have completely missed the market. It is inevitable to be suspicious. Let me go over the market again. Logically speaking, we are completely behind in the line of 'securities and venture capital', and it is true that we are chasing or not chasing."

"Okay!" Gu Chijiang responded.

Then I pondered for a while, remembering what Lin Tingzong said just now that the issue of Masukura on Fortune Road was not normal, so I couldn’t help asking: "Old Lin, you just said that the line of Masukura on Fortune Road’s 'securities and venture capital' is not normal. It's too normal, what do you mean? What's not normal?"

"The buying amount is not normal." Lin Tingzong said, "Wealth Road was in a hurry to buy yesterday, and the amount of each stock we bought was basically quite limited, but look at today..."

"Buy Orient Securities for 4300 million, buy Orient Ventures for 2800 million, buy Shibei High-tech and Zhangjiang Hi-Tech for around 1700 million, and buy Zijiang Enterprise for only 940 million. These buying volumes are compared with these stocks. Today's total turnover is too low."

"If Fortune Road is really eager to enter the market, it wants to grab chips in the field of 'securities and venture capital'."

"Then today, it's not just this amount of buying that appears on the Dragon and Tiger List."

"Also, Fortune Road has been completely silent on the two main lines of 'Mobile Internet' and 'Smartphone Industry Chain' in the direction of the GEM in the past two days, which is not normal."

"Obviously on October 10th, Fortune Road reduced its positions so decisively and urgently on the two main concepts of 'Mobile Internet' and 'Smartphone Industry Chain'. It didn't make any sense to stop suddenly, not to mention... In the past two days, the two main market trends of 'mobile Internet' and 'smartphone industry chain' have not been ideal, and they have completely underperformed the market index."

"It makes sense!" After Lin Tingzong's explanation, Gu Chijiang understood where the contradiction was, and continued to ask, "Tell me about your guess."

Lin Tingzong nodded, pondered for a while, and then said: "I was wondering...whether Fortune Road has already completed profit harvesting on the two main lines of 'Mobile Internet' and 'Smartphone Industry Chain'. All of them have been sold, and the sale on October 10 was the last bargaining action of Fortune Road."

"I'm still thinking about..."

"Before 'Yuhang No. 1' fund announced its position data and net worth in September, was it also intentional?"

"Wealth Road has always been using its seat influence to stir up market sentiment and follow-up funds from all walks of life, so as to complete the hype and profit harvesting in the best way."

"No one can predict the market trend in advance." Gu Chijiang said, "You said that Fortune Road has already left the market in advance on the two conceptual main lines of 'mobile Internet' and 'smart phone industry chain', which is possible. Yes, after all, in the many trading days after the National Day, many popular stocks in these two main lines have exploded in volume, and have not been listed on the Dragon and Tiger List. With the sufficient liquidity of these stocks at that time, the road to wealth is the best Gotta go."

"But you said that this President Su has been calculating how to harvest in this round of market since he announced the net value of the 'Yuhang No. 9' fund in September. It is unlikely."

"After all, at that time..."

"No one would have known that this round of market would explode to such an extent. They would not have known that the two main lines of 'mobile Internet' and 'smartphone industry chain' would be so violently hyped by the market around the National Day."

"You continue to say..."

Gu Chijiang roughly guessed what Lin Tingzong's real concerns were, and said with a smile, "You think the road to wealth lies in the line of 'securities and venture capital'. What is the reason for such an unreasonable pace of increasing positions?"

"If my previous guess is correct..." Lin Tingzong said, "then, the funds of Fortune Road should have been swapping positions and swapping shares to increase the bargaining chips in the 'securities and venture capital' sector, that is to say ...I think that Fortune Road's holdings in the field of "securities and venture capital" are far more than what we have shown, and I even doubt...he has already heavily invested in this field. , but it is also using the influence of his seat to stir up market sentiment and follow suit funds, and let these investors carry the sedan chair for him."

"But how can Fortune Road predict in advance that when the two main lines of 'mobile Internet' and 'smartphone industry chain' are adjusted, the line of 'securities and venture capital' will explode?" Gu Chijiang was very puzzled, "A paragraph The formation of the mainline market and its full-scale outbreak cannot be dominated by a hot money seat, it must be possible if the market has sufficient expectations in this regard, and the weather, location, and people are all ready!"

"I can't figure this out either." Lin Tingzong said, "But this is the only reasonable explanation!"

"Oh, and..."

Lin Tingzong thought for a while, and continued: "In addition to the confusing and confusing movements of the main positions of Fortune Road, the movements of the main institutions at the core of the market are also very strange."

"Netspeed Technology was sold off by institutional funds on a large scale today."

"Xinwei Group's three consecutive limit-downs, the 'restructuring backdoor' concept sector, collapsed across the board, and even within this line, the stocks that were hyped in the early stage were extremely heavily sold."

"This doesn't seem like a natural adjustment, it's more like there's some bad news!"

"But the trend of the index is clearly still at a new high, and the market's investment confidence is still advancing rapidly. Although the quarter-on-quarter increase in the turnover of the two cities is not as good as expected, it is considered healthy anyway."

"This kind of almost polarized market performance seems very strange in the bull market situation that everyone has already concluded."

"That's why I said it feels like there is a shadow of risk hanging over the market."

"Is the market for the concept of 'reorganization and backdoor' good?" Gu Chijiang pondered after listening to Lin Tingzong's analysis, "Is it necessary to tighten the review standards for backdoor listing? But if this is the case... For the 'mobile Internet' and 'smart The two main lines of the mobile phone industry chain, as well as the GEM, have no effect!"

Lin Tingzong said: "I can't guess it yet. I just think that the current market trend may not be as optimistic as we thought. In the future... I am afraid that the market will continue to repeat itself!"

"So, your suggestion is... to lighten up temporarily?" Gu Chijiang asked.

Lin Tingzong was silent for a moment, and replied: "I think we should take a look at the news on the weekend first. If the news on the weekend is still the same as it is now, then we will reduce it. The net value of our fund has finally returned to normal. I would rather earn less and slowly ...step by step, you can't be radical, thank you!"

"Okay!" Gu Chijiang said, "Although I have reservations about the shadow of market risk you mentioned, but for the two main concepts of 'mobile Internet' and 'smartphone industry chain', can you still hold it at a high level?" Continue to advance, but lack some confidence.”

"And if the wealth road is based on these two main line concepts, there is indeed no position."

"Then these two main lines, the hope of advancing in a high position is even more slim."

"So, instead of this...it's better to reduce the position and stop the profit while we still have profits, and wait for the market trend to be clearer."

Lin Tingzong agreed to his opinion after seeing Gu Chijiang after some analysis and persuasion.

Couldn't help but breathe a sigh of relief.

And just when the two of them re-adjusted their investment strategies based on the refreshed data on the Dragon and Tiger List, at this moment... the regulators once again released good news to the market, and various financial media and securities media reported that the stock market had soared, News reports that are strongly bullish on the market outlook have also spread all over the Internet.

In the evening, U.S. stocks also continued to rise sharply at the opening, which intensified market sentiment.

Subsequently, during the two days of the weekend, as sentiment continued to ferment, investors who paid attention to the stock market showed signs of increasing significantly.

"Looking at the market sentiment, in everyone's thoughts, the market index on Monday is estimated to have reached the daily limit." On weekends and evenings, Li Meng refreshed the posts on the stock forum boredly, smiled, and said to Su Yu beside him, " The regulators are so aggressive, this wave... When the news of the IPO restart comes out, I am afraid that many people will be buried!"

"If you don't create this wave of market, IPO will not be launched at all." Su Yu said, "From this point of view, I don't blame them for being so aggressive."

Li Mengmeng thought about it, nodded and said: "That's right, compared to reopening direct financing channels and restoring the hematopoietic function of the stock market, the emotions and profits and losses of retail investors in the market are really not worth mentioning, and they are indeed objects that can be used."

"Actually, whether the IPO restarts or not is not the key factor in determining the market trend." Su Yu said, "This is at most just an emotional amplifier. The key... is how to loosen credit, let more funds enter the market, and how to drive the market. , creating a sustained money-making effect and attracting a large number of retail investors.”

"In the current market, the fields that truly possess the core logic and have great room for imagination are only the emerging economic fields driven by the two main lines of 'mobile Internet' and 'smart phone industry chain'."

"But these two areas currently account for an extremely limited share of the overall market volume."

"Even if these two main lines are pulled to the sky, it will be difficult to drive the entire market."

"So, if we want to create a continuous profit-making effect, attract more retail investors to enter the market, thereby bringing in more incremental funds, and build the real foundation of the bull market, the regulators, or the core main institutions of the market, are afraid It is necessary to do some important things in the direction of the motherboard."

"Do something important?" Li Meng was a little dazed, "What is it?"

Su Yu smiled and said: "Tell me a sustainable story. After all, whether it's hot money or retail investors, I like hearing stories the most. With stories, there is room for imagination and sustainable expectations for the future. As long as there is If there is room for imagination and continuous expectations, then the current fundamentals and performance are not so important."

"This...institutions and regulators should be good at it." Li Meng smiled softly, "Look at the news released in the past two days, it doesn't hurt or itch, but it seems that every piece of news is good."

"No matter how good it is, this fire should be burning to the end soon." Su Yu said.

"Yeah!" Li Meng responded, and continued, "I see that in the market, everyone's discussions about our organization are, of course...mainly aimed at you. Most people still think that our main force holds positions, and they are still On the two main concepts of 'mobile Internet' and 'smartphone industry chain'."

"They will naturally think so." Su Yu said, "If they all think that our main holdings have been adjusted to the field of 'securities and venture capital', then something bad will happen, and what I deliberately revealed on the Dragon and Tiger List Buying and selling is completely meaningless."

If the market generally guesses their main positions, they have already adjusted to the line of 'securities, venture capital'.

The concept field of 'securities and venture capital', which is currently being hyped, may soon usher in the massive selling by the super main institutions, and the situation of reaping huge profits.

After all, the line in the field of 'securities and venture capital' can still be so strong.

It is because the super main organization that has obtained some inside information is using his seat on Fortune Road and his continuous pursuit of positions to attract more follow-up funds to participate, which intensifies the ability of funds to follow-up and the number of orders in this field.

If the main funds of Fortune Road are completed, there will be no way for retail investors to follow suit.

Without the support of core logic, the main line of the concept of "securities and venture capital" that was quickly hyped up should naturally fall.

"When do you think the news about the restart of the IPO will be clear?" Li Meng paused for a while and said, "The line of 'securities and venture capital' is so hotly speculated that it probably won't last long... !"

Su Yu thought for a while, and replied: "Such a large-scale action by the main market institutions proves that the news of the 'IPO restart' has been confirmed internally, and it should be announced to the market after the follow-up process is completed. , the timing...it should be in the second half of next week!"

"Then we... need to take action in advance." Li Meng said.

Su Yu nodded slightly, and responded: "Let's take a look at the market trend tomorrow. If you still hold high and fight high, and the market expectations and sentiments are nowhere to go, then we should really start to exit."

In this round of hype, Su Yu's expectations were not high.

As long as the overall profit is about 15%, it is enough for him.

According to the current market trend, in the two days since the outbreak of the line of 'securities and venture capital', the overall increase of its related sectors has exceeded 10%, which is not far away from the target of 15%.

What's more, the overall increase of more than a dozen stocks they hold heavily has already exceeded 15%.

Under such circumstances, it is not difficult to obtain an overall 15% rate of return in this round of hype.

"After this round of hype, what do you think about the future investment plan?" Li Meng asked, "After the news of the IPO restart is officially announced, the market sentiment will definitely reverse, plus there are various concepts with expectations and room for imagination. The sector has already been fired to a high level in advance. With the emotional collapse and the surge of profit taking, the market may inevitably undergo a tragic adjustment. If the follow-up market wants to recover, it may take a short time. We... how to plan? "

Su Yu smiled and said: "This round of market has never passed, so you are thinking about the next step?"

"Let's plan for the rainy day!" Li Meng said, "People don't have long-term worries, so they must have near-term worries, right?"

Su Yu nodded slightly, and said: "As you said, after this round of market adjustment, the market adjustment time may not be short, so... We will adjust the positions of the two funds to a low level, and slowly pick up the funds when the market adjusts tragically. High-quality chips and cheap chips are fine, but as for the main direction, it is still the two conceptual directions of 'mobile Internet' and 'smart phone industry chain', but the specific target, I am afraid that we need to think about it carefully."

"Return to the two main concepts of 'mobile Internet' and 'smartphone industry chain'?" Li Meng was a little surprised, "Then I'm afraid we won't be able to find any high-quality and cheap bargaining chips. After all, these two main lines have been speculated continuously this year. There have been several waves, corners and corners, as long as there is expectation and imagination, they have all been fired."

"That's not necessarily true." Su Yu said, "There is no shortage of bullish stocks in the big main line of the macro. Since the 'mobile Internet' and 'smartphone industry chain' are already expected to be the strongest in the next two to three years, or even five years, The concept field with the largest imagination space is worth digging deeply, making repeated layouts, and investing... It is in the macro development trend, on the strongest outlet, and intensive cultivation. After all... Standing on the outlet, even pigs are Can fly."

"but……"

Su Yu paused, and then said: "In addition to investing, we have to pay more attention to the training of traders. In the current company's trading team, there are still too few people who can take on heavy responsibilities."

"En!" Li Meng nodded, deeply agreeing with this point.

"Actually... we can consider poaching the core talents of other companies." After a pause, Li Meng continued, "Now our company has a good reputation in the industry, if we let go of certain conditions, we should be able to Attract a group of outstanding talents in the industry.”

talking...

The two began to discuss in detail the company's 'talent introduction plan'.

In the end, after drawing up a rough plan, the two of them just washed up and went to bed separately. During this period, the enthusiasm for discussing the stock market in the major online stock forums in the market is still high.

Just in this kind of raging fire cooking oil, the market investment sentiment is extremely high.

Come Monday, October 10.

The time has reached 9 o'clock, and the market has not yet opened. In the hearts of the majority of market investors, the mind plate has already reached the daily limit, and the Shanghai Stock Exchange Index has already begun to hit 2500 points.

However, at 9:15, the two cities officially began to call for bidding.

Most of the stocks in the market did not open sharply higher as expected, but only rose slightly, and the selling was obvious!

(End of this chapter)