The investment era of rebirth

Chapter 272 Take Profit from Marginal Stocks!
"Huaqingbao and Wangsu Technology continue to drive lower?"

Seeing the performance of the market during the initial call auction of the two cities, some people in the main hot money group of Yuhang where Su Yu is located, some people couldn't help but wonder: "Why is the selling so heavy? It doesn't make sense? Wealth Road is locked... The result is the trend I didn't expect it to be so weak, it's really hopeless!"

"It's not just that Huaqingbao and Wangsu Technology are selling heavily, and many tickets are lower than expected!"

"Xinwei Group also continued to open at the daily limit. Although the previous 15 consecutive boards of this check was indeed a bit overhyped, but now the adjustment is too drastic. For several consecutive trading days, all funds entering the market have been buried. what!"

"The core main line is still on 'securities, venture capital'."

"It's because 'securities and venture capital' have siphoned too much active capital from the market, so other non-core mainline stocks seem to be lacking in undertakings?"

"The concept of 'restructuring and backdooring' is particularly tragic. Except for the successful reorganization of Rongshun shares with the Sanqi online game company, the popular concept stocks that have been hyped in the early stage can be said to be completely wiped out. I really don't understand... this line How come the breakthrough was collectively abandoned by various funds.”

"Because of the collective collapse of Xinwei, other tickets can't open up space, so they all collapsed, right?"

"It feels like there are other reasons!"

"Non-core main line stocks generally opened lower than expected, but today's core main line of 'securities and venture capital' obviously opened somewhat beyond expectations."

"Zhezhou Dongfang Yiziban, Dongfang Venture Capital opened 8.35% higher at the beginning, and Orient Securities also opened 7.12% higher. Look at this...'Oriental' stocks will continue to show their daily limit today. Others'Shibei High-tech, Zhangjiang Hi-Tech, Zijiang Enterprise, and other "venture capital" concept stocks related to Fortune Road also opened higher by more than 5%, and the rush to raise funds from various sources is very obvious, and it has indeed exceeded expectations."

"There is also Huatong Securities. This heavyweight stock was closed yesterday, which was actually very reluctant, but I didn't expect that it would open at an increase of more than 2.5% at the initial opening today. , venture capital' this line is really full of confidence, and the willingness to pursue positions is extremely strong."

"Judging from the call auction sentiment in the two cities at this moment and the general situation of the market, except for the stocks with the core concept, the capital follow-up effect and the profit-making effect of other concept stocks are extremely reluctant. , venture capital’ field and made stock selections.”

"Originally, I still wanted to buy Hua Qingbao's bottom, but now... I have to give up."

"Longhuitou's market is not easy to do, and it is more reliable to follow the core hotspots. After all, the profit-making effect of rising stocks is still much stronger than that of falling stocks."

"Continuously adjusting for several days, there is no strong counter-drawing. Could it be that the market of the two popular concepts of 'mobile Internet' and 'smartphone industry chain' in the early stage has really passed?"

"I don't know if it happened in the past, but the current market funds are chosen in this way."

"Since the market capital has chosen this way, we can only follow. After all, there is only one road to wealth. We cannot lead the market or change the market trend."

"Indeed, I have to say, Mr. Su is the best!"

"In this round of 'securities, venture capital' market, Mr. Su probably didn't make any big gains, right? I feel that his holdings in this field are somewhat insufficient."

"It's hard to say, but what is currently shown is that the funds of large institutions in the market are indeed dominating."

"These big institutions and the market's super main funds, this time... finally, they are on the hype line of 'securities and venture capital', let's make a comeback!"

"They denounced us for speculating with hot money and disturbing the market order, but...they didn't do the same?"

"It's still different. The market has intensified so quickly, and it's obviously more ugly."

"Zhezhou Dongfang, Dongfang Securities, Dongfang Entrepreneurship, Shibei High-tech, Zhangjiang High-tech, Zijiang Enterprise... How do you choose the priority of this batch of stocks? Which one is the priority?"

"Zhezhou Dongfang is still a word of infinity today, so it should not be bought."

"It must be the priority of the two stocks of Orient Securities and Orient Entrepreneurship. They have always been the current leader in securities hype, and the leader in the direction of venture capital exchange, and they all have seats for continuous buying from Fortune Road. As long as 'Securities, Venture Capital' If the line of "investment" is not completely collapsed, the prices of these two stocks should not be bad. I feel that within five boards, as long as you can buy them, you should be able to make money."

"Orient Securities' market is a bit big, and the circulation has gone to 100 billion. Orient Ventures should be able to go further?"

"It's hard to say. Although Orient Securities' circulation is not small, the current market sentiment is extremely hot. A circulation of 100 billion is not particularly large. It is still quite dominant in the securities sector, and... the number of circulation is just right. It can facilitate the entry and exit of main funds of around [-] million yuan, and sometimes... strong liquidity is also an advantage."

"Then pay the two checks!"

"The increase of these two checks has already jumped to about 9%. It is estimated that either the daily limit will open, or the trend will be closed in seconds after the opening. It may not be possible to buy."

"If you can't buy it, go to 'Zhangjiang High-tech, Shibei High-tech, and Zijiang Enterprise'."

"Does anyone feel that today's line of 'securities, venture capital' is very likely to rise and fall, and to diverge? Market sentiment on this line has nowhere to go!"

"There is a possibility of differentiation, so we must choose the most core leading stocks!"

"If the line of 'securities and venture capital' diverges, then I think Huaqingbao and Netspeed Technology can give it a try. After all, once the line of 'securities and venture capital' diverges, funds will definitely flow back to the previous hot spots. What's more, the two lines of 'mobile Internet' and 'smartphone industry chain' have been adjusted deeply enough."

"Why not buy the bottom line of the concept of 'reorganization and backdoor'? Compared with the two lines of 'mobile Internet' and 'smartphone industry chain', this line has been adjusted deeper!"

"The line of 'restructuring the backdoor' has been abandoned too much by funds, and the internal bargaining chip structure has been completely disorganized."

"It's safest to pursue Orient Securities and Orient Entrepreneurship!"

When everyone was discussing fiercely, the time had passed 9:20.

I saw that after a large amount of funds were withdrawn, the call auction situation in the two cities that entered the stage of irrevocable orders has changed significantly from before.

In the field of 'securities and venture capital', more and more funds and follow-up investors are attracted.

The two major concept stocks both rose by more than 2%. Almost all concept stocks during the period achieved a red market and opened higher. Among them, the core stocks, Zhejiang Dongfang Wuliang, the daily limit, and Dongfang Entrepreneurship continued to bid upwards, and they also swayed at the daily limit position. , Orient Securities increased by 8.67%, which is also a continuous upward bidding trend. Huatong Securities’ increase expanded to 3.12%, and Huaxin Securities’ increase also broke through the 2% mark.

And due to the continuous strong performance of 'securities and venture capital'.

Today, in the "big finance" field of "insurance and banking", the other two major weights also showed signs of capital inflow and attack, and the sector rose by 0.67%, ranking among the forefront of the industry sectors in the two cities.

In addition to 'securities, venture capital', and even 'big finance' related industry sectors, concept sector.

The performance of other industry sectors and concept sectors is relatively weak.

Especially in the fields of 'mobile Internet', 'smartphone industry chain', 'restructuring backdoor', and other popular main line concepts in the early stage, the selling pressure and capital outflow are relatively obvious, and the related popular core stocks, except for a few Stocks with the concept of "financial" attributes, others... all showed a more or less low opening state.

Overall, in the performance of the call auction time from 9:15 to 9:20.

The market situation seems to be further concentrated in the fields of "securities, venture capital" and even "big finance".

"I feel that market funds are increasingly flowing into the 'securities and venture capital' sector, and the market is becoming more and more concentrated." At 9:21 in Shanghai, Zexi Investment's internal trading room, Zhou Kan observed the market and said, "President Xu , such a situation...indicates that the market's pursuit of this main line of the market has reached its peak, right?"

"That's right!" Xu Xiang nodded slightly, "Emotions can't be advanced, and the line of 'Securities, Venture Capital' broke out too quickly, and it went too hastily, the structure of the bargaining chip was seriously unstable, and the accumulation of profits was too fast , It is estimated that today...the market on this line will show a trend of differentiation from high to low."

"If there is differentiation in this line, the funds should flow back to the hot concept sector in the early stage?" Zhou Kan thought for a while and said, "Then the two cores of 'mobile Internet' and 'smartphone industry chain' have been adjusted for several days in a row. The main line of the concept, maybe there will be a chance for a strong rebound.”

"The potential market with IPO restart is negatively suppressed. I am afraid that there will be no chance for the core concept lines such as 'mobile Internet' and 'smart phone industry chain' in the direction of the GEM." Xu Xiang said, "The active funds in the market When the line of venture capital and venture capital divides, some of them may return to the hot spots in the early stage, but this part of the funds...does not have the ability to dominate the market."

"The current market sentiment seems to be extremely hot."

"In fact, the entire market has been hyped to the end. Once the market expectations are reversed by the news of the IPO restart, and the underlying bull market logic of the soaring 'securities and venture capital' is falsified, then the market's major adjustments should happen. Here we come."

"Then we..." Zhou Kan paused, "Do we need to lower the fund holdings to the lowest level?"

Xu Xiang thought for a while and said: "Our position is not high at the moment, and the positions on the main concepts of 'mobile Internet', 'smartphone industry chain', and 'restructuring backdoor' have basically been cleared. Even if the IPO is restarted and the market takes advantage of the situation to adjust, it will not have a great impact on us.”

"Let's keep some dynamic positions..."

"Although the hope of a comprehensive bull market is very slim, the probability that the index will go on to another round of big bear market at this position is also very small."

"I estimate that even after the market hype ends, the market will fall into an adjustment."

"It should also return to the volatile market."

"And in a volatile market, the market actually has no shortage of opportunities to make money, so...we don't have to be too pessimistic."

"Really adjust, it is estimated that the index will step back to the 2200 point position again!" Zhou Kan said, "Maybe it is possible to fall into the box shock range of 2000 points to 2200 points, it should...it will not fall 2000 mark, as for ChiNext, if market expectations completely change, I am afraid the risk is far greater than that of the main board.”

"After all, after the restart of IPOs, stocks in the so-called emerging economic sectors such as ChiNext will no longer be scarce."

"In addition, since the beginning of this year, the growth rate of the ChiNext is much greater than that of the Shanghai Stock Exchange Index, and the overall valuation of the ChiNext is almost twice as high as that of the main board."

"I feel that the valuation difference between the two will eventually return to the same level."

"In this way, market expectations have changed, and the valuation of the ChiNext Board has collapsed. The depth and breadth of adjustments will inevitably be far greater than that of the Shanghai Stock Exchange Index."

"Not necessarily." Xu Xiang said, "Although the overall valuation of several main lines in the direction of the GEM is much higher than the market average valuation, there is still room for imagination for the development of its future business scale and future performance explosion. It is the most anticipated in various industries and conceptual fields in the market.”

"The so-called collapse of valuations..."

"In the end, it still depends on how the market funds are selected and what kind of consensus expectations everyone has."

"Okay, let's talk about the changes in market conditions and investment strategies in the future when the market news is clear and the trend has reached that point!"

"Currently, we still have to fall into the current market."

"The two checks of Orient Securities and Orient Entrepreneurship... have obviously become the leading stocks in the core main line of the market. Although the market of 'Securities and Venture Capital' may diverge today, the overall market has not yet come to an end. , so... for leading stocks, there are still huge speculative opportunities."

"Zhou Kan..."

Xu Xiang paused for a moment, then said: "Before the two checks have completely sealed the daily limit, let's go directly to the big order to grab the top spot. The third board will determine the dragon. The emotions of these two checks have already started to follow suit, and the third board is basically no suspense. "

"We bought it like this... Didn't we lift the sedan chair for Fortune Road again?" Zhou Kan frowned slightly.

But after he finished saying this, he still gave the traders the order of "big order master seal" to buy without hesitation.

Xu Xiang smiled and said: "As long as it can make money, it doesn't really matter who lifts the sedan chair for whom. In the line of 'Securities and Venture Capital', these two checks have formed the trend of the core leader, which is in line with our trading logic. Then it’s only natural for us to follow suit and speculate.”

"trade……"

"At the end of the day, we still deal with the market, with the numbers."

"So, sometimes the idea should be simple, focus on the basic trading logic, and strictly abide by the trading rules. Others... are just useless interference information and can be ignored."

He has been in the A-share market for almost ten years.

I have been down, I have succeeded, I have suffered huge losses, and I have also made a lot of money...

Today, he is in charge of 'Zexi Investment', holds tens of billions of capital management rights, and has the top hot money seat in the market. He is no longer so persistent in the battle of spirits and fame in the industry.

"Okay!" Zhou Kan responded, turned his eyes back to the board again, and stopped talking.

And with the rush of 'Zexi Investment' to buy...

At 9:24, Dongfang Entrepreneurship and Orient Securities both blocked the daily limit. Among them, on the board of Orient Securities, the volume of matching transactions exploded from more than 4 to more than 8 in an instant.

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

I saw that the Shanghai Stock Exchange Index opened 0.68% higher and stood on the 2400 mark again. The ChiNext Index opened flat, and the index point was at 1357.11.

The main line of concepts, sectors, and individual stocks.

'Securities, venture capital', the main concept line, and related concept sectors still led the gains in the two markets. The securities sector opened up 2.36%, and the venture capital concept sector rose 1.93%.

For related core concept stocks, Zhejiang Dongfang Wuliang has a one-word daily limit, and Orient Securities has greatly increased its daily limit in call auctions. However, during the call auction period, the turnover exceeded 1900 million. Dongfang Ventures also opened with a daily limit. During the entire call auction period, the turnover was [-] million. About [-] yuan, which is about the same as yesterday's call auction volume.

other……

Shibei High-tech opened up 4.88%, Zhangjiang Hi-Tech opened up 3.96%, Zijiang Enterprises opened up 3.22%, Huaxin Securities opened up 3.17%, Huatong Securities opened up 2.86%, Huaxin Securities opened up 2.42%, basically... …The core popular stocks that were chased by funds on a large scale all outperformed the sector index and the broader market index, continuing the hot market situation of the previous two days.

In addition to the core hot spots of 'securities and venture capital'.

Concepts related to 'mobile Internet' and 'smartphone industry chain' in the direction of the GEM, as well as concepts related to 'oversold rebound' and 'backdoor restructuring' in the direction of small and medium-sized board concept stocks, all performed relatively weakly, without any adjustments, Signs of rebound, reverse package.

Among them, the core concept stocks...

Huaqingbao opened 1.33% lower, Wangsu Technology opened 1.89% lower, Changqu Technology opened 0.93% lower, Fenda Technology opened 0.77% lower, and Xinwei Group finally opened the lower limit in the call auction, and finally opened 6.79% lower. However, Hilong Software, which was hit by hype before, still has its daily limit closed, and is at the forefront of the decline list of the two cities.

"Market conditions and funds are further concentrated in the concept field of 'securities and venture capital'." Seeing such an opening situation, Yuhang, inside the company of 'Yuhang Investment', Li Meng reported to Su Yu, " It seems that the market trend...is moving towards the results of our discussion last night, and the market differentiation in the main concept field is estimated to come soon, and we have to prepare for the exit."

Su Yu nodded slightly and said: "The overall market is concentrated, but the market in the line of 'securities and venture capital' is scattered. Today, the two big men of 'insurance and banks' have also moved. As expected, There will be a wave of relatively violent high-platform diving in the market today."

"According to this opening scene and emotional reaction..."

"Once the incremental funds in the market can't keep up, I'm afraid the market can only last for a morning at most."

"The market has spread to the entire 'big finance' field, so with the current market capital, it can't be lifted at all."

At present, in terms of the Shanghai stock market alone, the total daily turnover is only about 600 billion. With this amount of funds...it is very unrealistic to fully stimulate the big finance.

At this moment, however, the emotions have come to here.

Moreover, the 'securities and venture capital' sector has already moved two or three trading days in advance. If the two major financial sectors, 'insurance and banking', remain motionless, then the core 'securities and venture capital' sector will have an upward trend. , will also be severely restricted, and even the basic logic of the bull market in the entire market will be shaken.

Once the basic logic of the bull market is shaken, the overall expectations of the market will completely change.

Regardless of the index or individual stocks, it is even more difficult to go up.

"So, the best time for us to exit the position is during the trading hours in the morning, right?" Li Meng said with a smile, "Where do we start to reduce?"

"From the stock pool we have built positions in, which have not been focused on by funds, let's start to reduce the marginal stocks." Su Yu said, "During the differentiation of the main line market, the phenomenon that the strong get stronger will be more vividly expressed, from weak to weak. Gradually reducing positions and taking profits will help us maximize profits.”

Since they built their positions, the concept of 'securities, venture capital' has been a riot to the present.

The average increase in the sector is already close to 13%.

And the more than 40 concept stocks they hold, since the completion of the position building, the average increase has reached around 18%, which is considered to have completed the established investment profit target.

"Okay!" Li Meng responded and began to give instructions.

Su Yu glanced at Li Meng, thought for a while, and said: "Reduction of positions is a reduction of positions, but there is no need for the market price of the main seller to continuously smash the market, differentiation does not mean collapse, during the period of differentiation of the main line market, there is still no shortage of liquidity in this field , and I guess the news of 'market IPO restart' did not come out so quickly. We still have a lot of time to reap profits, so don't be too anxious. At the same time...we still have to avoid our seats. At this time, everyone The scale appears on the dragon and tiger list."

"Yeah!" Li Meng nodded, "I understand that we don't have too many positions in these marginal small-cap concept stocks. With the current liquidity, we will be careful."

After speaking, she continued to convey instructions to the traders.

At this moment, with her order issued, the time quickly came to 9:30, and the two cities entered the formal continuous bidding transaction stage.

I saw that after 5 minutes of short-term emotional fermentation, the market conditions were further extreme.

(End of this chapter)