The investment era of rebirth

Chapter 434 The news is good!

In the evening, following the announcement of the Dragon and Tiger ranking data, US stocks opened sharply lower, which dealt a fatal blow to the already fragile market.

The majority of investors in the current market, after a brief resumption of trading, look around, no matter the news, sentiment, or capital...all are bad.

Fortunately, this time, the regulatory authorities are no longer indifferent to the continuous unilateral plunge in the market.

On the next morning, May 5, before the market opened on Thursday, he disclosed some news about the "Shanghai-Hong Kong Stock Connect" to the market, and it is expected that the Shanghai-Hong Kong Stock Connect will be officially launched at a certain stage in the second half of the year.

Affected by this good news, the market investment sentiment that was originally extremely pessimistic before the market has picked up.

Stimulated by the good news of the 'Shanghai-Hong Kong Stock Connect', many desperate market investors can't help but ignite a glimmer of hope for the market outlook.

With this glimmer of hope.

When the time came at 9:15 and the call auction between the two cities started.

In the hearts of the majority of investors, the market that was originally expected to open lower across the board has finally ushered in a bright light. The main line of the "big finance" sector, such as "banking, securities, insurance" and several major industry sectors, opened higher across the board, up 0.8%. 1.25% points, and the previous high-level popular main lines such as 'infrastructure', 'state-owned enterprise reform', and 'Internet finance', which suffered consecutive losses, have also stopped falling at this moment, and popular stocks in many fields have turned red and rose.

"The news of the Shanghai-Hong Kong Stock Connect is coming. Today, 'big finance' may play the leading role, right?"

Seeing that the initial call auction situation in the market slightly exceeded expectations, at this moment in Yuhang, inside Yuhang Investment Company, in the fund trading room, Li Meng observed the market and said with a smile: "It feels like the market has fallen here. , There is a slight signal to stop the decline."

"The good news on the surface is indeed coming out quickly, which is a little bit more than expected." Su Yu replied, "However, in terms of market adjustment trends, regardless of time or space, it is still a little short. In terms of market long-short sentiment feedback, We are still far from the turning point.”

"As for the 'Big Finance' sector..."

Su Yu paused, pondered for a moment, and continued: "The news of the 'Shanghai-Hong Kong Stock Connect' is indeed a strong positive boost for this main line field, but this field needs a continuous market, which is very important for undertaking The requirements for capital volume are too high, and the current market, both emotionally and financially, is in a recession cycle, and the overall market status is difficult to support the continued strength of the 'big finance' sector."

"Moreover, there is no obvious inflection point in the fundamentals of the 'big finance' sector."

"Stimulation from the news is useful, but usually it must resonate with the inflection point of the fundamentals to produce a relatively large and sustained mainline market."

"Obviously, the main line of 'big finance' does not currently have such conditions."

"I guess..." Su Yu said with a smile, "It would be good if the main line of 'big finance' can have a generally higher opening and slightly outperform the index performance."

"It means that there is a high probability that there is still nothing worthy of attention in the market today?" Li Meng heard Su Yu's analysis and responded, "I feel that the two lines of 'infrastructure' and 'state-owned enterprise reform' have been pulled back. There are quite a few, but the bargaining chip structure has not stabilized, and it is indeed unable to undertake the important task of supporting the market index and recreating the continuous profit-making effect of the market.”

Su Yu thought for a while, and said: "Although the market sentiment has not yet ushered in an inflection point, the attitude of the regulators has been shown. Coupled with the continuous sharp drop in the index in the early stage, the take-profit order and the meat-cutting order on the market have already appeared. It’s almost the same, the momentum of the decline has been fully released, so at this stage, even if the main market is still unable to perform, there is a high probability that the index will not have the same sharp drop as in the previous period.”

"Well!" Li Meng replied, "The inflection point of the macro policy is often preceded by the market sentiment and capital. At the current position of the index, the probability of continuing to plummet and adjust is indeed not high."

"Since the market trend will probably shift to the second stage of 'shock adjustment', should we make slight adjustments in trading strategies and increase the strength of building positions appropriately?" said Su Yu and Li Mengjian. During the discussion, Liu Yuan interjected, "Master, we have avoided the most tragic plunge in the index and the most serious risk stage in the market. Now... when the index hits around 2200 again, it should be appropriate Has it turned from defense to offense?"

Facing Liu Yuan's question, Su Yu pondered for a moment, and responded: "Let's stick to the trading strategy of 'build positions slowly, watch more and move less'. The market trend has entered the second stage, even if there is a high probability that there will be no sharp drop. Risks, but shock adjustments will still not be less, especially when the market sentiment has not yet ushered in an inflection point, some stocks that we have the intention to build positions, there is a high probability that there will be emotional kills.”

"The trend of the market, no matter whether it is rising or falling, cannot be achieved at one touch."

"At this moment, there are some positive signals on the policy and news fronts, but we...we still have to be patient enough until the market turning point does not come."

"Okay!" Liu Yuan responded, and then turned her gaze back to the trading interface of the two cities.

"President Su, the line of 'military industry' doesn't seem to have any obvious performance at the opening of the market today." Wang Can, who has been observing the market call auction market trend, paused, and said, "This trend... I think it's a bit obvious. It is not as expected, shall we continue to increase positions on this line?"

Su Yu nodded slightly, and said: "Continue to increase positions slowly, since the road of 'military industry reform' and 'military industry enterprise asset securitization' has been pointed out at the macro policy level, then there must be continued hype value in this direction As for the fact that there is no obvious change in the trend at this time, and the main funds in the market have not gathered in this direction on a large scale, it is because the current market hype sentiment and capital situation are still in a bad situation, and the market risk appetite is still declining. , and 'military industry' belongs to the field where future performance expectations are difficult to figure out and information disclosure is very opaque, so naturally, at this time, the attitude of various funds towards this field will appear too cautious."

"But when the market sentiment and capital face an inflection point..."

"The 'military industry' sector, which carries the two long-term positive expectations of 'military industry reform' and 'military industry enterprise asset securitization', will become an amplifier of market sentiment and usher in a good hype market."

"Indeed." Li Meng also said, "As long as the market's risk appetite and hype sentiment increase, the two major investment defects of the 'military industry' sector, which are difficult to figure out and confidence disclosure is very opaque, will be driven by positive factors. Become a huge advantage, provide room for market speculation, and provide unlimited imagination."

"As long as the macro policy direction of the 'military industry' line and the two good expectations of 'military industry reform' and 'military industry enterprise securitization' are not fulfilled, then our strategy for building positions in the 'military industry' field will not change. "Su Yu emphasized, "For this line, at the current stage, you can rest assured to build a position, or the same sentence... No grabbing chips, no trays, just buy as many chips as you can."

"Okay." Wang Can responded, and then turned his attention to the trading interface of the two cities again.

"President Su, is the direction of building positions of our 'Yuhang No. 3' fund also focused on 'military industry' in terms of priority?" At this time, Zhang Guobing, the trading team leader in charge of the 'Yuhang No. Can't stop asking, "Can our trading team intervene in the two core directions of 'infrastructure' and 'state-owned enterprise reform', as well as the direction of 'Internet Finance' at the same time?"

Su Yu thought for a while, and responded: "Take 'military industry' as the main direction of attack, and as for the core lines of 'infrastructure', 'state-owned enterprise reform', and 'Internet finance', keep what I just said about 'building positions slowly, The rhythm of "see more, move less" can also be properly intervened."

"Currently, the market adjustment is not over."

"So, no matter whether it is No. 1 Fund, No. 2 Fund, or the new No. 3 Fund with closed operation, you have to follow the idea of ​​building positions on the left side. While increasing positions, you must strictly control the risk of holding positions. When you see an opportunity, don't hesitate."

"Okay, I understand." Zhang Guobing responded and stopped talking.

And following the simple discussion of everyone, at this time, the market trading time has entered 9:20.

I saw that after the market call auction for the first 5 minutes, after a large number of false pending orders were withdrawn from 9:19 to 9:20, the market situation presented by the market was much different than when the call auction started at 9:15. , obviously dropped.

Among them, the 'Big Finance' field.

The banking sector index has fallen back to around 0.85% from the 0.5% increase at the initial call auction stage; the two major securities and insurance sector indices have fallen back to less than 1.25% increase from around 1% increase at the initial stage of call auction. In terms of industry sectors and related core component stocks, the buying power is not strong, and there is still a risk of continued decline.

'Infrastructure', 'state-owned enterprise reform', 'Internet finance' and other core lines that have continued to plummet and adjust in the early stage.

The performance at this moment, although the increase is much behind that of 'Big Finance', the buying power of related core constituent stocks is obviously much stronger than that of some core constituent stocks in the 'Big Finance' sector, and this Several core main lines, as the market trading hours advance, the related sector index increases are still rising slowly.

During the continuous market decline in the early stage, the main lines of "consumption" and "medicine" have been shown several times.

At this moment, the performance of these two main lines appears to be very mediocre in the context of an obvious rebound in the market. The related industry sector indexes are basically all maintained near the flat market. There is neither obvious main capital buying attention nor obvious Selling of main funds suppressed.

As for the field of 'military industry' that Su Yu is very optimistic about.

After yesterday's relatively strong performance, this main line opened today. In the call auction, the performance was not very good. Not only did the sector index lag behind the market average performance, but some of the component stocks in the sector that performed particularly strongly yesterday were even out of stock. There are obvious signs that the main funds are selling to suppress the market.

"The 'big finance' field, which is stimulated by direct benefits, is...obviously not as expected!"

Seeing the real call auction situation in the market, He Hong, the fund manager of 'Minghui No. 2' fund manager of Yuhang, Minghui Capital, and the fund trading room frowned slightly, and said to Xu Zhongji, "Mr. In the line of finance, I think we should intervene cautiously!"

"Why?" Xu Zhongji asked, "The announcement of the 'Shanghai-Hong Kong Stock Connect' has a direct stimulating effect on stocks in the financial sector of the market, and it should take a long time for this benefit to be realized. The market has sufficient room for speculation and Time, coupled with the valuation of the 'financial' sector, has indeed been suppressed miserably, this wave of loose chips, if the valuation expectations increase, it can bring about continuous market expectations."

"At the same time, the market index has continued to adjust through this period..."

"At this moment, it has fallen to around 2200 points. In the early stage, the hype market mainly focused on 'infrastructure construction' and 'state-owned enterprise reform', and its risks have been fully released. I think no matter what...we should not be in this position. Continue Be pessimistic."

"But today's market call auction, the trend reflected is obviously different from what we expected before the market!" He Hong said, "I suggest that we still respect the actual trend reaction of the market. At this time... it is really not appropriate to be too pessimistic. But I don’t think it’s right to be too optimistic.”

"Judging from the performance of each main line in the market call auction..."

He Hong paused for a while, thought for a while, and then continued: "After continuous adjustments in the early stage, several major themes such as 'infrastructure', 'state-owned enterprise reform', and 'Internet finance' have undergone continuous adjustments, and their related industry sectors and concepts The core component stocks of the sector are obviously more likely to be bought by the market.”

Hearing He Hong's analysis, Xu Zhongji stared at the trading boards of the two markets for about half a minute before responding, "Judging from the actual market trends, it seems to be the case."

"In that case..."

Xu Zhongji thought for a while, and said: "Then after the official opening, let's take a look at the specific strength of the 'big finance' field. If the main funds of all parties in the market agree with the market logic in this direction, then after the official opening, the 'big finance' The strength of funding in the field should be getting stronger and stronger."

"You're right." Xu Zhongji smiled and continued, "At this stage, one should neither be overly pessimistic nor overly optimistic. As for 'infrastructure', 'state-owned enterprise reform', and 'Internet finance', which are the main lines of hype in the early stage, You can pay attention, but the timing of intervention should be more cautious."

Seeing that Xu Zhongji agreed with his analysis and judgment, He Hong couldn't help but breathe a sigh of relief, and turned his attention back to the trading board again.

But at this time, following the short discussion between the two, the market trading time has come to 9:25, the call auction of the two cities has ended, and the market trading interface has been reset.

(End of this chapter)