The investment era of rebirth

Chapter 430 Pessimism and optimism!
"How tragic!"

At 9:40 in Shanghai, inside Zexi Investment Company and in the fund trading room, Zhou Kan, after observing the market trend and briefly browsing the comments of retail investors in the discussion forums of major trading platforms, couldn't help feeling: "Except for' Banks' single tree, other industry sectors and conceptual fields in the entire market, have almost been wiped out."

"Normal!" Xu Xiang, who was beside Zhou Kan, nodded slightly and said, "The market's expectations have completely changed to the direction of the short side. At the same time, there is no other positive stimulus on the market news, so the funds in the market will naturally vote with their feet. For foreign funds, seeing this market situation, the wait-and-see mood will become more intense, which has caused the on-site selling to completely suppress the buying, and the market volume can continue to shrink, but it continues to fall unilaterally."

"Is it mainly due to the lack of confidence?" Zhou Kan responded, "The original long-term bullish trend was not fully established before it was suppressed by the bad news of the IPO restart. Start turning against each other."

"In this way, confidence collapsed, and everyone's market expectations for the future have almost turned from optimism to pessimism."

"I think this is the reason why the market's risk appetite has dropped sharply, and the relatively high-level 'infrastructure', 'state-owned enterprise reform', and 'Internet finance' have all collapsed."

"but……"

Zhou Kan paused, staring at the ever-changing market conditions of the two markets, and then said: "The banking sector in the 'big finance' field is very strong today, receiving waves of funds, but I don't know that it is the main force of the 'national team' In the operation of protecting the market, it is still a risk-avoiding operation where the hedge funds on the market are switching between high and low."

"If it is the 'national team''s market protection operation, there is nothing to say. It can be protected for a while, but it cannot be protected for a lifetime. When the market picks up a little bit, the banking sector will definitely make up for the decline."

"But if it is the spontaneous behavior of the main funds in the market, then the change in the banking sector should still be a little bit continuous?"

Xu Xiang pondered for a while and replied: "Although the valuation of the banking sector has been compressed to the extreme and has fallen into the lowest valuation range in history, its elasticity is very weak. Large investment value, but as market sentiment speculation, in the short term, flexibility limits profit margins, and this field is not inherently suitable for speculation.”

"When we choose opportunities and invest funds, we are actually giving up some opportunities at the same time."

"As a field of 'big finance' with weak flexibility and a large amount of capital swallowed up by the market, I will not choose to intervene unless there is certain and important good news."

Xu Xiang paused for a while, then continued: "In trading, we don't need to chase every investment opportunity, we still have to know how to let go of the small and grasp the big ones. At the current stage of market development, the market rebounded by 'big finance' , Just like a small bubble on the lake in the entire financial trading market, if you chase a small bubble, not only will you not get anything with a high probability, but you will also drown yourself with a high probability."

"Just keep an eye on the trends of the two core market trends of 'infrastructure' and 'state-owned enterprise reform'."

"I estimate that the two core main lines have been killed to the end, and the relevant core component stock chip structure has been re-adjusted, so it is estimated that the market adjustment will be over."

"Although the overall market situation looks very tragic."

"But if you observe carefully, you will find that the overall trend of the entire market is still led by the two core themes of 'infrastructure' and 'state-owned enterprise reform', which shows that the two core themes of 'infrastructure' and 'state-owned enterprise reform' Market attention has not diminished, and it is still the pulse center of market fluctuations."

"So, there is a high probability that it will be for a long time to come."

"The two core lines of 'infrastructure' and 'state-owned enterprise reform' should still be the leading areas of market development. We only need to keep an eye on the market changes of these two core lines to grasp the pulse of the market and make correct decisions. The investment strategy is chosen."

"Okay!" Seeing what Xu Xiang said, Zhou Kan gave up his attention on the banking sector, and responded, "The market index has no support at 2300 points, and the expectation at 2200 points below is very strong. I don't know if it can hold up." ?”

Xu Xiang smiled and said: "Guessing the top and guessing the bottom is the behavior of retail investors. We only need to follow the trend and pay attention to changes in market news. However, according to the historical performance of the market, the so-called support level that everyone expects is more consistent , or the time to adjust the index will not come, or there will be a high probability that it will be broken down."

"I think so too." Zhou Kan nodded, "If the regulatory authorities do not intervene strongly in the market trend, there is a high probability that 2200 points will not be able to sustain it."

"but……"

Zhou Kan thought for a while, and then said: "After these two months of market trend changes, judging from the future trend, the underlying bargaining chips have been completely loosened by this round of market conditions. It should be very beneficial for the market to take off.”

"At the same time, from the analysis of the market chip structure, the bull market is actually beginning to have traces."

"On the whole, the market is slightly pessimistic in the short term, but the long-term trend is actually relatively optimistic."

"I agree with this point." Xu Xiang nodded and said, "After the promulgation of the 'Nine Articles of the New Country', all expectations on the macro level are gradually improving, but it will take time for market confidence to recover. Development, the establishment of a long-term bullish trend, also takes time."

During the brief discussion between the two, the market trading time has entered 10:02.

I saw that after half an hour of trading in the morning, the Shanghai Stock Exchange Index has fallen to around 1.75%, approaching a 2% drop, while the ChiNext Index has fallen below 2%. And other major core main lines are already in mourning, and related popular stocks, such as 'Beixin Road and Bridge, Shanghai Sanmao, Beijiang Communication Construction' and other stocks, have all been hit on the limit board.

"Fuck, I'm really convinced by being hammered continuously. Hurry up and drop to 2200 points in one breath!"

Different from the relatively optimistic forecasts and judgments of many major institutions, among the majority of retail investors, complaints and panic voices are still heard.

"With this rubbish trend, do you think you can hold it when it falls to 2200 points? Dreaming!"

"Looking at the market, in fact, the index did not fall badly, but the individual stocks were terrible, and I don't know what happened. The number of stocks with daily limit in the two markets is almost more than 20, and almost all of them are popular stocks in the market."

"The decline in the stock index can still be seen. It is because of the support of the banking sector. There are nearly 2000 stocks in the two cities, and more than 1500 stocks have shown a decline. This market is not bad. Let's look at the decline of the ChiNext. It’s a real performance, anyway, I cleared my position unconditionally.”

"Indeed, the banking sector is too shameless. Under such circumstances, it has become popular."

"There will be no results in protecting the market. The more you protect the market, the worse the fall will be in the future. Just wait and see...the banking sector will definitely make up for the decline in the future, and the 'big finance' sector really can't go."

"Clearing is the only correct choice. If you stay in the market, you will only lose more and more."

"At this time, you can't have any illusions. Yes, liquidation is the only correct choice."

"Hey, the key is that the price limit is down, so I can't sell it!"

"It's unlucky, I had two limit-downs in a row. If I knew the floor of the Beixin Road Bridge the day before yesterday, I should have gone straight away. Now I'm completely trapped."

"A rebound in a downtrend is the poison that induces everyone to chase higher."

"It's not just poison, it's poisonous wine."

"Hey, it's impossible for this trend to go up again. Sell it, sell it..."

"Holy shit, the industry sectors related to the two main lines of 'infrastructure' and 'state-owned enterprise reform' have a total net outflow of main force funds of 25 billion. What the hell... It's only been half an hour. If you wait until the market closes in the afternoon, the main force The net outflow of funds must not exceed 50 billion? It's too scary!"

"The main funds in the field have already started to run away."

"Indeed, before the news of the IPO restart was released, the main funds in the market began to run away, and the main funds running now are already belated."

"The main players running at this moment should be the same as everyone else, they are all out of the game."

"Even the main players have cut their meat out one after another. Doesn't this just happen to prove that the market has no hope at all?"

"There is no hope at all. Looking at it like this, it is estimated that the support of 2200 points may not be able to support it. If the loss is not much, it is indeed the best choice to cut the meat and stop the loss."

"If the index can't even hold up to 2200 points, then those who have lost a lot can stop the loss unconditionally."

"Sell it now, wait until 2200 points, or buy it back after 2200 points, won't you make a profit? It's enough to make the cost much lower."

"There is nothing so cheap. If I want to say stop loss, stop loss. Don't think about buying it back. It's easy to mess up your mentality."

"Indeed, if you stop the loss, you will stop the loss. If you want to buy it back again, it is estimated that when the market rebounds midway, you will definitely not be able to bear it when you see the stock price of your holdings soaring."

"This is true. I was on the Beixin Road Bridge, and I just wanted to do T. The more T, the higher the cost."

"Is there really no hope?"

"Even the main funds in the field are constantly running away, so where is the hope? Before, everyone was holding unrealistic hopes in their hearts. Isn't this... all harvested by the main force?"

"It is said that the more the market falls, the greater the increase in volume. Why is the market declining today, but shrinking instead?"

"This is because the sold funds did not re-enter the market after the sell-off, the market funds continued to show a state of net outflow, and the wait-and-see sentiment of off-market funds became stronger and stronger. Didn't this cause the decline in market volume? ?”

"The volume can continue to decay like this, and when the short-term hold-ups accumulate to a huge magnitude, I am afraid that the market will fall into the previous downward trend again?"

"Needless to say, sure!"

"After the sharp knife cuts the flesh, the blunt knife cuts the flesh again. The market in each round is roughly like this."

"This round of 'infrastructure' and 'state-owned enterprise reform' led the rise, which feels too similar to last year's market dominated by 'mobile Internet' and 'smartphone industry chain'."

"It's really too similar. Looking at the main line concept stocks of 'mobile Internet' and 'smartphone industry chain' nowadays, it is simply horrible!"

"To put it bluntly, in the past two years, the market has never gone out of a comprehensive and sustained general rise."

"Yes, in essence, it has always been the interpretation of local market conditions."

"Hey, it's because it's a partial market, so the 'bull market' has no hope at all, and the market can only go on the road of rebound and decline round after round."

"Without changing the market ecology, there can be no bull market at all."

"Indeed, but changes in the market ecology require countless real money to spend. Who wants to?"

"Actually, this round of the stock index can break through 2500 points, and the market has changed from a partial market to a comprehensive market. The result is that the regulators took advantage of the news of 'IPO restart' and directly suppressed it."

"It turns out that regulators and the market 'national team' don't have any long-term vision either."

"Don't say these are useful or not, is it useful to analyze them at this time? One word, 'sell' will do!"

"Hey, I can only be willing to gamble and admit defeat."

"Our Big A, we call it the investment market, but to put it bluntly, it is still a casino with huge speculative attributes. Those who guide the market on the field, whether it is the 'national team', major institutions, or even hot money groups, are all crazy. What I thought was to use the advantages of funds to harvest retail investors, and I never thought about long-term investment.”

"The big A ecology is like this, there is no way."

"Unless you don't enter, you will be cut off if you enter."

"After the liquidation this time, I really don't want to enter the market anymore. It's really too difficult."

"Hey, every time I firmly believe in the bull market, it is the time when I get cut the worst. After this liquidation, I don't believe in the propaganda of these institutions and financial media anymore."

"The stock index is not above 2500 points, I will not enter the market again."

"Yes, we must wait for the Shanghai Stock Exchange Index to stabilize at 2500 points before the market may have a huge turning point."

"Anyway, I am focusing on Mr. Su's 'Wealth Road' seat. As long as Mr. Su's 'Wealth Road' seat is sold, then I will unconditionally clear the position. As long as Mr. Su's 'Wealth Road' seat is bought, then I will buy it unconditionally." Income, other things, what kind of 'bull market', what trends, fundamentals, I don't believe it at all, and I don't listen to it at all."

"Yes, yes, it is really wise to follow President Su's operation."

"Mr. Su is definitely the number one bright light in the market. It seems that the 'Wealth Road' has never missed a single time, and every buying and selling point is extremely accurate."

"This is the demeanor of a market leader!"

"It's a pity that the market has fallen so badly today. More than half of the reasons are due to Mr. Su's 'Wealth Road'."

"Can President Su be blamed for this? The market's downward trend has already formed. Even if President Su doesn't sell it, the other main funds in the market will run like crazy."

In the heated discussions among many retail groups, almost one-sided bearish remarks.

At 10:15, the market, which was already in a sharp drop, once again ushered in a wave of rapid and rapid diving. The decline in the Shanghai stock index expanded almost in a straight line to a drop of more than 2%.

(End of this chapter)