The investment era of rebirth

Chapter 323 The First Trading Day of the New Year!

"It seems that the start is good, and there is great hope!"

Seeing that 85% of the stocks in the two cities opened higher at the beginning of the call auction, Li Meng smiled and said in the trading room: "The speech you made at the Shanghai Financial Summit really had a big impact. Tianyu Information, Huake Tickets for Jincai, Changliang Technology, Shanghai Steel Union, etc., were actually opened directly on the limit board."

"It only affects a high opening." Su Yu said, "Although 'digital economy' and 'digital finance' are a possible general direction of financial development in the future, at present, companies that really have business in this area in the market are still Very few, unable to form a plate effect."

"There is also the continuous shrinkage of the market, and the previous adjustment has fallen below the bottom of the previous shock platform."

"Coupled with tight market liquidity, lack of market confidence."

"It is still very difficult for the market to stand firm here and launch a strong rebound."

"But if you can't stand firm and don't have the basic conditions for a rebound, then all the high openings will not only be not a buying point, but will become a trap for burying people."

"At least……"

Su Yu paused, and said: "We have to wait until the market continues to shrink, and the bottom of the market increases again, before we have an obvious entry point."

"Now, keep calm, maintain a low position and remain unmoved."

"Fang is the best choice."

Li Meng nodded with a smile, and said: "Yes, the equivalent can be reduced to the extreme, and the index continues to fall below all supports, and after releasing a large amount again, there is a possibility of bottoming out. At this moment... many investors in the market, despite The quilt is not shallow, but I still haven't given up hope."

"In this way, if a large number of locked-in stocks are unwilling to cut their meat, the pressure to pull up the market will appear even greater."

"This feature is extremely obvious in the two core main line hot stocks of 'mobile Internet' and 'smart phone industry chain' that have been continuously speculated in the early stage."

"Many investors who hold these popular stocks are facing adjustments in stock prices of 30%, 40%, or even cut in half."

"I still have illusions, and I don't want to cut my flesh."

"With such a huge hold-up market suppressing the market, at least the two core lines of 'mobile Internet' and 'smartphone industry chain' should not rebound much."

"Will the index continue to fall?" Trading team leader Wang Can was a little surprised when he heard Su Yu and Li Meng's analysis, "The volume of both markets has shrunk to less than 1000 billion, which is a sharp drop of 40% compared to the peak volume. billion, I feel that there is really no way to fall, and many popular stocks on the GEM generally adjust around 30% to 50%. The decline is sharp and hard. I think there should be a strong rebound .”

Su Yu glanced at Wang Can, and said with a smile: "The popular stocks in the early stage of the GEM have risen three to four times, five to six times under the optimistic expectations, and now they have corrected by [-] to [-]%, which is not too much."

"and……"

Su Yu paused, and continued: "Last year has passed, and what is being speculated now is the expectation of this year."

"For some popular stocks, their business developed very well last year, and their performance also showed explosive growth in the mid-term and third-quarter reports."

"However, it is because of the explosive performance growth of these tickets last year."

"Then, this year, if we want to continue to grow rapidly in terms of high-base performance, the difficulty will not be so great."

"Moreover, these stocks are usually expected to be fully sold. Even if some popular stocks that have been heavily hyped in the early stage can still increase their performance by a large margin this year, there is not much room for exceeding expectations, and there is no room for exceeding expectations. If there is room, there will be no room for the stock price."

"The two core lines of 'mobile Internet' and 'smartphone industry chain' are indeed high-quality investment fields with continuous growth in demand and scale under the circumstances of the outbreak of the entire emerging economy. However, after the general hype in the first stage, when When everyone finds that there are investment opportunities in this field.”

"Then, the market in this field is bound to enter a stage of differentiation, that is, the second stage from concept hype to performance realization."

"At this stage..."

"We have to dig deep into individual stock research to find out the stocks with the largest difference in future expectations at this stage."

"There is a relatively large opportunity to obtain excess profits in the market."

"Su always means..." Among the traders, Liu Yuan asked, "Even if we want to build a long position again in this field, we should try our best to avoid stocks that have been violently hyped last year, and avoid those whose performance is already at a low level. Is it a hot stock with a high growth stage and a high valuation?"

Su Yu glanced at Liu Yuan, nodded with a smile, and said, "Yes, that's what it means."

Following the trading room, everyone analyzed and discussed.

At this moment, the time has passed unknowingly, 9:20 has passed, and it has entered the real call auction for irrevocable orders.

I saw the two main-line hot stocks of 'mobile Internet' and 'smart phone industry chain' that opened sharply higher before, as well as various stocks related to 'digital economy' and 'digital economy', such as 'Internet finance', 'mobile payment' and 'smart city'. Popular stocks related to the concept of "finance" have all dropped sharply at this moment, only one of "Tianyu Information" has closed the daily limit, and the rest are all at a high opening range of 3 to 5 points.

at the same time……

There are nearly 2000 stocks in the two cities, and the number of high-opening stocks has also dropped from the initial 85% to about 68%.

Faced with the call auction trend of the two cities that has subsided in an instant, the majority of investors in the entire market who had great expectations for a "good start" gradually cooled down again at this moment.

"Hey, during the New Year's Day, such a big profit can't move the A shares. It's really hopeless!"

"Looking at the market, only the popular concept stocks that were oversold in the previous period, as well as the emerging concept stocks of 'digital economy' and 'digital finance', show signs of popularity and violent fundraising. Others... still feel lifeless, hey, my For real estate stocks, there is not even a single bidder."

"It still has to be led by 'Wealth Road', otherwise the market will not be popular at all."

"President Su's speech at the 'Financial Summit' should be enough to show that he is very optimistic about the main concepts of 'digital economy' and 'digital finance', right?"

"It's useless to be optimistic, you have to buy it with real money."

"Yes, if you can be on the Dragon and Tiger List, and then see the large-scale purchases of 'Wealth Road', these two concepts will come up, right?"

"Look at the 5 minutes of call auction just now... Speaking of the main funds in the market, there are also differences in how to speculate in these two concepts, and which aspect to focus on? It is said that the first benefit and embodiment of 'digital finance' should be It is 'mobile payment' and 'digital currency', but it seems that the main funds are still focused on 'Internet finance'."

"To be honest, even if Mr. Su explained, I still don't quite understand what 'digital finance' is."

"Whatever it is, I don't think there is any need to understand it at all. See which stock has the strongest call auction and the main funds rush to raise the most, just follow the trend and buy."

"If you look at it this way... Tianyu Information, it should be Long Yi!"

"Speaking of the traditional financial field, securities, banks, are there any opportunities? The advancement of 'digital finance' should also increase the expectations and imagination of these big guys! Moreover, the valuations of the two major fields of securities and banks have indeed been taken into account. Pressed to the max."

"I don't think so. Let's not talk about the valuation issue. The key is that the market has no money. Who can move it?"

"Unless the central bank makes a clear shift in monetary policy, a big interest rate cut is almost the same."

"Hey, don't expect interest rate cuts. In June last year and at the end of this year, the market liquidity was so scarce that banks experienced money shortages twice. The central bank did not cut interest rates. Now the Fed's monetary policy has become more radical, and it has clearly stated that it will withdraw from QE. And it may enter the channel of raising interest rates in the near future, and the central bank has no room to cut interest rates at all.”

"Is the market really short of money?"

"I think what the market lacks is not money, but confidence!"

"Indeed, looking at the emerging P2P platforms, in the name of wealth management, the speed of raising funds is simply jaw-dropping."

"I heard that there is a platform that has amassed 25 million in funds within 3.6 days of its establishment!"

"Looking at the stock market like this, I want to invest money in online platforms for financial management."

"That thing is not reliable at all, is it?"

"Hey, external U.S. stocks keep making new highs, and the macro market continues to be positive. However, the A-share index just keeps falling. I really don't know what went wrong."

"It's still the same sentence, the fundamental problem is the lack of confidence in the market."

"As long as there is a money-making effect, confidence will naturally rise."

"Having said that, the creation of the money-making effect, in general, still requires the promotion of funds and major benefits."

"Hey, it would be great if 'Fortune Road' could take the lead!"

"According to the fund holding data released by President Su before, the two funds he is in charge of should be at a very low position level. I think... President Su should take the lead, right? I just don't know when it will be, Does Mr. Su feel that the market has not fallen through here?"

"It's hard to say. Compared with many blue-chip heavyweight stocks on the main board, the valuation of stocks related to the ChiNext is indeed still in the sky."

"According to the previous adjustments, it should have gone to the end, but 5 new stocks were issued, and nearly 100 billion blood was drawn."

"It feels like it's one last drop away."

"We should wait for the new shares to be listed, and it's almost the same?"

"Anyway, at this time, it is wise not to hold stocks for a long time, but to take a bite and leave."

"Hey, I didn't go out with Mr. Su in the last wave. I thought the market adjustment would not be too deep, but it suddenly fell for more than half a month, which is simply horrible."

"It has entered the continuous negative decline mode again."

"Don't say 'again', it feels like the main board has never come out."

"Blue chips are dead, and the future is the investment situation of emerging economies. This year's opportunities will obviously still be on the GEM!"

As everyone was still discussing relatively pessimistically, the time reached 9:25, and the call auction of the two cities ended.

I saw that the Shanghai Stock Exchange Index opened at 2143.63 points, up 0.39%; the ChiNext Index opened at 1138.22 points, up 0.51%. More than 1300 stocks in the two cities opened higher, of which 'Internet Finance', 'Mobile Payment', Conceptual sectors such as "city" had the highest growth rate, and in the industry field, the two major industries such as "Internet application" and "electronic information" had the highest growth rate. The main capital attack direction of the entire market is still on the GEM and small and medium-sized board related popular concept stocks. .

"Although the index has finally maintained a high opening trend, the high opening rate is somewhat lower than expected compared with the total increase of US stocks during the New Year's Day holiday and the impact of various good news during the holiday!" Seeing such an opening situation , at this moment in the magic city, inside Zexi Investment, in the trading room, Zhou Kan, who has been observing the market trend, couldn't help but frowned, looked back at Xu Xiang, and continued, "Mr. Xu, this situation..." Digital Economy ' and 'Digital Finance' are two emerging concepts, if they follow the trend and hype, I'm afraid there is a risk!"

Xu Xiang glanced at the final opening results of the two cities, was silent for a while, nodded slightly, and said: "The two new concepts proposed by President Su, 'digital economy' and 'digital finance', are still too empty. In general, there is no target with particularly strong logic, and the direction of capital attack is still related to the 'Internet Finance', 'Mobile Payment', 'Smart City' and other related targets that have been speculated in the early stage, and both space and expectations are limited."

"never mind……"

Xu Xiang paused, and said: "Give up this line!"

"If you can't get out of a new path, on the basis of the original expectations, there will be a lot of hold-up pressure, and the market will not go far."

"Well!" Zhou Kan said, "Sure enough, the imagination is full, but the reality is very backbone. After the 'financial summit', the market was so hotly discussed. I didn't expect that it would still be like this at the opening."

"Confidence is low, market capital liquidity is limited, and even if a large amount of funds choose online wealth management, they will not enter the stock market, and there is no way." Xu Xiang said, "What's more, it seems that the banner of 'real estate economy' is going to be raised in various places now. Well, if the real estate market recovers, capital will pour into the real estate market, and the liquidity of the stock market will be even more scarce, hey... the bull market, in the past half a month, after the market confidence has been killed, it has disappeared again!"

"However..." Zhou Kan thought for a while and said, "The index is low enough, even if the market liquidity is lacking in the next period of time, it won't go anywhere, right?"

At present, the stock index has fallen to more than 2100 points.

Zhou Kan thought that even if the stock index continued to fall to the low point of the market money shortage in June last year, and broke through the 6 mark again, it would only fall by 2000% at most, so there is no need to be too pessimistic.

Xu Xiang said: "Although the stock index may not have much room to fall, the ChiNext index...is hard to say!"

Last year, the Shanghai Index basically did not rise, and there were many blue-chip stocks on the main board, and the valuation continued to be compressed to a lower historical extreme value, but the ChiNext Index almost doubled from its low point. Now the shape has changed and the trend has reversed. In Xu Xiang’s opinion , the risk was transferred to the GEM instead.

"Boss Xu means..."

Zhou Kan was taken aback, and then said: "Are we going to avoid the GEM?"

Xu Xiang didn't answer directly, but smiled, and continued: "Zhou Kan, have you noticed? In fact, our A-share market is a typical market with extreme emotions. It goes too far when it rises, and it also goes too far when it falls. Hidden in the two extremes of emotional expression!"

(End of this chapter)