The investment era of rebirth

Chapter 395 Change in Investment Strategy!
"Eight Lianyang, it's really imposing like a rainbow!"

Seeing such a closing scene, Xu Zhongji, the general manager of Yuhang and Minghui Capital, in the fund trading room, couldn't help feeling: "And all the adjustments were completed within a day, and the market volume is also advancing steadily. It seems... this round of rebound , the stock index is really going to be above 2500 points."

"Actually, in today's two main areas of 'infrastructure' and 'state-owned enterprise reform', the internal bargaining structure of many popular stocks has been loosened." Fund manager He Hong said, "It's just a follow-up under the support of good news and emotions. The funds are strong enough to suppress all this again.”

"This is the power of the trend!" Xu Zhongji said with a smile.

He Hong nodded and continued: "The divergence has once again turned to unanimity. The two core market trends of 'infrastructure' and 'state-owned enterprise reform' are probably about to really enter the stage of deepening and accelerating."

Xu Zhongji nodded slightly, and responded: "After today's violent turmoil, investors in the entire market have already discovered that only the two core themes of 'infrastructure' and 'state-owned enterprise reform' can fully gather the market's long-term sentiment and follow-up funds. , condensing a continuous profit-making effect, it is bound to accelerate the inflow into this field, and push the expectations and valuations to the extreme in one go, so... It can be foreseen that the direction of the next market market and the grouping of active funds in the entire market The signs will become more obvious, and the two core main lines of 'infrastructure' and 'state-owned enterprise reform' have indeed reached the time for a full-scale explosion."

"that is……"

Xu Zhongji paused for a while, thought for a while, and continued: "I don't know how high the height can be!"

After the two core themes of 'infrastructure' and 'state-owned enterprise reform' have been gradually deepened, the range of conceptual stocks involved has been quite broad. In other words, the volume of these two main lines is already large enough. He really has no idea how far he can follow suit, how much money he can undertake, and how far he can continue to go.

After all, judging from the current changes in market volume, the short-term limit is only in the range of 1300 billion to 1500 billion.

And as the hype space continues to rise, the potential selling force in the market is increasing with time.

"When the next obvious disagreement occurs, it should be almost the same." He Hong responded, "At the same time, it also depends on when the CEO of 'Yuhang Investment' will leave the position."

As the core force of the two main lines of 'infrastructure' and 'state-owned enterprise reform'.

He Hong believes that the two main funds 'Yuhang No. 1' and 'Yuhang No. 2' managed by Su Yu, with a total of more than 100 billion holding chips, are definitely important factors affecting the future trend of the two main lines of the market.

"It's impossible to guess." Xu Zhongji said rather helplessly, "His selling point is usually unexpected!"

He Hong thought for a while, and said: "According to the position data disclosed by the two main funds of the 'Yuhang Department' before, we can still capture a few stocks in which they hold relatively heavy bargaining chips, and according to the market information of several stocks in which they hold heavily Changes, if they concentrated large-scale out of warehouses, we should still be able to find some clues.”

"not to mention……"

He Hong paused for a while, then continued: "The CEO of 'Yuhang Investment', Mr. Su, used his personal trading seat, that is, the seat of 'Yuhang Huaxin Securities Fushenglu', to buy the stock of Beixin Road and Bridge. With a large amount of bargaining chips, the Beixin Luqiao check serves as an indicator of market sentiment and popularity. With such a high turnover rate every day, with the huge amount of money bought by Mr. Su, it is difficult to escape the disclosure of the dragon and tiger list once a large-scale liquidation occurs. "

"So, if you really want to capture the traces of their position changes, you should be able to make a rough judgment."

"Besides, our company's main funds, in the two main lines of 'infrastructure' and 'state-owned enterprise reform', the weight of their holdings is not too large. Compared with the two funds under 'Yuhang Investment', the overall market value of holdings, It’s not worth mentioning, as long as we find out that they have reduced their positions and left the market on a large scale, we can still react in time.”

"That's true!" Xu Zhongji nodded with a smile, and pondered for a moment, "After today's 'big financial' riot, there is no market synergy at all. What do you think of this?"

He Hong responded: "Generally speaking, it is still a problem of market capital. The turnover of more than 1000 billion in the two cities can't lift the "big financial" sector of several trillion, and the internal lock-up in this field is too much. It's heavy, and there's another thing... everyone's expectations for this field are still short of breath and not strong, but looking at the market trend today, there is a little worry in my heart."

"Oh? What hidden worry?" Xu Zhongji continued to ask.

He Hong responded: "From the perspective of market performance, whether it is active funds on the market or a large amount of incremental funds following up off the market, in terms of direction selection, they only agree with the key issues of 'infrastructure' and 'state-owned enterprise reform'. Two main lines, in other words... in the current market, except for the two main lines of 'infrastructure' and 'state-owned enterprise reform', the other main lines of direction are not unanimously recognized by all funds in the market."

"And that leads to..."

"If the hype on the two main lines of 'infrastructure' and 'state-owned enterprise reform' ends."

"Then the market is not fully able to undertake the two main themes of 'infrastructure' and 'state-owned enterprise reform'. The rebounding trend of the index and the continuous profit-making effect of the market may be difficult to continue."

"That is to say, when the hype on the two main themes of 'infrastructure' and 'state-owned enterprise reform' has come to an end, the rebound in the entire market will most likely come to an end. The current 'bull market' that is being shouted is probably another lie. Under such circumstances, the market cannot get rid of the fundamental trend of shocks, nor can it form a real continuous upward trend.”

The so-called 'one tree can't support', He Hong believes, only rely on the two main lines of 'infrastructure' and 'reform of state-owned enterprises'.

It is difficult to support the market index to continue to go up, and it is also difficult to really change the macro trend of the market. After all, once the emotional hype reaches an end, with the disappearance of the profit-making effect and the amplification of the money-losing effect, the originally aggressive active funds will It will become cautious again, and the market will fall into a recession of both capital capacity and sentiment, and thus usher in a downward trend again.

But to change this fundamental trend...

Then you need multiple main market lines with strong future expectations, continuous rotation and conversion, to continue the profit-making effect of the market, so that driven by the profit-making effect, active funds that have already entered the market, as well as potential off-market funds, will Continuously participate in transactions, support and continue the index and the overall market, thus forming a fundamental trend change.

However, judging from the current market situation, He Hong has not seen the emergence of conceptual fields that can take over and undertake the two core themes of 'infrastructure' and 'state-owned enterprise reform'. Tried the 'high and low switch' wheeling.

But without exception, all failed.

Except for the two main lines of 'infrastructure' and 'state-owned enterprise reform', there is no direction for other concept sectors, and they have been unanimously recognized by various funds in the market, thus forming a joint force.

Therefore, even if today's index has stepped out of the momentum of the Eight Lianyang Ruhong attitude.

But in his heart, he still has a lot of worries, and it is difficult to continue to be optimistic about the follow-up market.

Hearing He Hong's analysis, Xu Zhongji thought about it for a while, but he also agreed with it. He nodded and said: "Indeed, apart from the two main areas of 'infrastructure' and 'state-owned enterprise reform', the current market has no other opportunities to show it. All the funds for the switch ended in failure.”

"Hey... It seems that the 'bull market' is probably still a lie."

"Only one or two main lines, the market still can't go far."

"However, don't be too pessimistic..."

Xu Zhongji paused, and continued: "No one thought that the two main lines of 'infrastructure' and 'state-owned enterprise reform' would explode like this, leading the index from around 2100 points all the way to 2400 points now. Zones liven up the entire market.”

"Follow-up, let's take a step and watch."

"Pay attention to changes in market news, and also pay close attention to the changes in positions in the direction of 'Yuhang Investment'!"

"President Su of 'Yuhang Investment' is a genius in market transactions. Maybe he can detect opportunities that we don't see."

"With his current seat influence, as long as the market's expectations in a certain direction are gradually strengthening."

"Maybe, at the critical moment, another big mainline market that can attract all kinds of funds in the market can come out. In this way... there is hope for the continuity of the market."

"Hopefully!" He Hong nodded, "However, under such circumstances, we should not continue to increase our positions at high positions."

Xu Zhongji replied: "The established investment strategy remains unchanged. If your analysis is good, then the follow-up period of 'infrastructure' and 'state-owned enterprise reform' main line of market acceleration will inevitably be a market that fluctuates violently and is not easy to participate in. We don’t have much liquidity left in our hands, and there’s really no need to gamble with our entire position.”

"Manager Zhang and Manager Zhao..." He Hong said worriedly.

"We will hold an internal investment strategy meeting later. Please tell everyone about your analysis. I believe they will clearly understand the current market trend and make a correct investment strategy." Xu Zhongji responded, continuing to stare at the With the fixed market prices of the two cities, he said with emotion, "This is really a feast for shareholders!"

And when he was full of emotion, wondering if Su Yu was aware of the potential risks that might exist in the market, and when Su Yu would exit the position and take profit.

At this moment, Yuhang Investment Company is in the internal trading room.

After some re-analysis, Zhao Lijun also put forward similar market views as He Hong, thinking that it may be difficult for the Shanghai Stock Exchange Index to truly stand at the 2500-point bull-bear line, and believes that the two main market trends of "infrastructure" and "state-owned enterprise reform" The hype is coming to an end.

"When the market sentiment is generally bullish, the market breaks through rapidly, and there are no more bearish voices in the market, you can see the potential risk points of the market, which is very good." After listening to Zhao Lijun's review analysis results, Su Yu said, He gave a thumbs up with a smile and continued, "Indeed, all the support of the market comes from the continuous incremental funds, and the reason why the incremental funds continue to flow in is because of the continuous profit-making effect shown by the market."

"Without the key factor of continuous profit-making effect, all so-called market continuation is nothing but a castle in the air, vulnerable to a single blow."

"The stock price will not rise to the sky. Under the game between buyers and sellers, the hype will always have an end."

"The two core themes of 'infrastructure' and 'state-owned enterprise reform' hijacked the market in a short period of time, and the index rose all the way from 2100 points, thanks to the outbreak of the two core themes of 'infrastructure' and 'state-owned enterprise reform'. When these two major market trends are adjusted, and other directions of the market cannot show consistent expectations and profit-making effects, the index will naturally enter the adjustment stage.”

"So, logically speaking, your judgment on this potential risk point is not a problem."

"However, market investment opportunities are never static, but obviously dynamic."

"Currently there is no field that can replace the two main market trends of 'infrastructure' and 'state-owned enterprise reform', and there is no other major market line to rotate the market. After the hype of the main market lines of 'infrastructure' and 'state-owned enterprise reform' has been sluggish, the market continues to make money. , but it does not mean that there will be no follow-up.”

"At this time, the market, sentiment and confidence have actually been heated up by the continuous money-making effect shown by the two main lines of 'infrastructure' and 'state-owned enterprise reform'."

"That is to say, under the already hot market sentiment and relatively warming market confidence."

"Actually, finding opportunities is much easier than when the overall market was down. In other words... At this time, calmness and caution are appropriate, but pessimism is not enough."

"En!" Zhao Lijun responded to Su Yu's guidance, "Thank you, President Su, for your compliment."

"Starting from the next trading day, let's gradually reduce positions and take profits." After responding to Zhao Lijun, Su Yu looked around at the two trading team members in the entire trading room, and then said, "The higher the price, the higher the sales, and at the same time avoid the dragon and tiger rankings. We can’t reveal our intentions early, after all, our fund’s influence is not small now, once we reveal our intentions in advance, the market trend will change unpredictably, hindering our trading strategy.”

Of course, Su Yu made up his mind to lighten up the factors at this time.

In addition to what Zhao Lijun said today, and what he had discussed with Li Meng before, he vaguely felt that the market regulators would soon be unable to sit still, and the restart of the IPO was likely to be close at hand.

However, he did not tell everyone at the moment about the judgment of the high probability of the IPO’s rapid restart.

After all, all of this is just his guess, without smooth logical support, naturally there is no need to say it.

"Okay!" Li Meng replied, "In this wave of rebound, we have made a comprehensive heavy position on the two main lines of 'infrastructure' and 'state-owned enterprise reform', and we have made a lot of money. Now the two main lines are relatively high. , the sentiment has turned from disagreement to consensus again, and it is indeed time to take profits slowly and accept it when it is good."

The company's two main funds hold extremely large positions in the two core lines of 'infrastructure' and 'state-owned enterprise reform'.

Now that the potential risks have been analyzed, it is time to react in advance.

Of course, it is different from the investment strategy change made by 'Yuhang Investment' after the resumption...

In the market at this moment, the vast number of investor groups, whether it is online stock forums, or financial media comment areas, or social networking sites, many retail investor groups, institutional analysts, financial big V... and a series of people, aiming at today's violent market shocks After that, it once again set a new rebound high and stood firm at 2400 points. It is still strongly bullish, and the voice of 'bull market' is getting stronger and stronger, and it has been recognized by more and more people. It can be said that no one realizes it at all. To the potential risks that may exist in the market!
(End of this chapter)