The investment era of rebirth

"What the hell, the 'Venture Capital' concept section is up!"

At 1:12 a.m., inside Xinniu Fund Company in Shenzhen Stock Exchange, in the trading room of the main fund, Mou Zhengxing, the trading team leader who has been observing the changes in the market, frowned obviously, and said incomprehensibly: "The current domestic financial market, no matter whether it is a first-level The market, or the secondary market, has such a bad investment sentiment, where does the 'venture capital' come from with its expectations and logic? Isn't the funds for these solicitations... just speculation?"

Fang Xinsheng, the fund manager next to Mou Zhengxing, smiled slightly and replied, "You are right. The active funds in the market at the moment are like headless chickens. Isn't it just speculation?"

"How could this be?" Mou Zhengxing was puzzled, "It feels like the whole market has no sustainable market at all."

Fang Xinsheng responded: "It is because the market did not show any signs of sustained market conditions, and the main funds active in the field were still unable to open up the situation in the direction of the original market hotspots, so we had to resort to the 'oversold rebound ', constantly trial and error, looking for other low-level undertaking sectors, and then start a new market, and the line of 'oversold rebound', the market continuity is weak in the first place."

"After all, the hype logic of this line is not tough."

"The relevant sectors and individual stocks of the change have not changed in any way before and after the change, and the fundamentals and expected logic have not changed. They are only driven by hype funds, so naturally the expectations cannot be too high."

"Hey..." Hearing Fang Xinsheng's analysis, Mou Zhengxing sighed softly and said, "The sustainability is too weak. Not only will it not be able to accumulate the market's profit-making effect and bullish sentiment, but it will continue to consume the few active funds in the market. , and continue to dampen everyone’s enthusiasm for following suit.”

"This continues for a few days..."

"I am afraid that the market's investment sentiment and confidence in the market outlook will collapse even more."

However, the net worth has not been greatly increased to a point where it can continue to operate aggressively and relatively ignore investment risks. Naturally, it is impossible to gamble recklessly when the chances are slim.

"At present..." Fang Xinsheng pondered for a moment, and replied, "If the active capital group in the market still cannot find an effective market breakthrough, the situation you mentioned has a very high probability of happening."

If the opportunity of the "military industry" line becomes more and more uncertain.

This means that they captured the main funds on this line.

The concept of "venture capital" and its related industry sectors have been hyped and boosted by the active funds in the market, and their growth rate has squeezed into the forefront of the two cities' price increase lists. In the field of finance and Internet finance, many stocks also experienced short-term changes, as if the entire concept of "finance" in the market is picking up and recovering at this moment.

"Actually, the market trend of this line in the morning is very wrong." Qin Qiuyue continued, "According to the fund building style we captured before, the concentrated volume of the 'military industry' line in the morning can pull up the trend. , it’s very abnormal, I guess... the other party must have noticed that there are new hype funds coming in, and they don’t want to expose their motives and traces of building positions so quickly, so they temporarily canceled the order.”

"You just said that this line started to weaken suddenly after the market opened in the afternoon, right?" Qin Qiuyue seemed to have caught something from the market, paused, and asked again.

"but……"

"Fang always thinks that the market will build a staged bottom here, and what is the chance of finding the main market to break through again?" Mou Zhengxing thought for a while and asked, "If the next market really finds a chance to break through the main market here?" , that direction, which fields may appear in it?"

"In the market, where there is quantity, there is opportunity."

"I can't detect the main capital movement that we followed suit before." Zhou Hui said, "On the board of the 'military industry' line, whether it is Huaguo Heavy Industry, Huahang Electromechanical, Huahang Optoelectronics, etc. that we noticed before, Whether it is the core component stocks such as Hangfa Power, Huaguo Great Wall, Hangfa Technology, etc., or other component concept stocks, the buying volume on the market is rapidly weakening, and the buying power is also rapidly weakening. It feels... The main force that we followed suit before has given up building positions and stopped buying.”

Zhou Hui nodded, and responded: "Yes, when the market opens in the afternoon, the market of this line feels very wrong."

Qin Qiuyue's gaze was still fixed on the 'Venture Capital' concept section which was obviously changing, and Zhou Hui, who was staring at the 'Military Industry' section, was obviously a little nervous, and hurriedly asked, "What's the matter?"

Now, the main fund they manage has a position in the military industry sector that has greatly exceeded the previous expectation of opening a position, and has reached the point where it has a heavy position, and... because their previous position building cost is not low, it can be said that at this moment The overall cost of holding positions is significantly higher than the overall performance of the "military industry" sector at the moment, which makes it even more difficult for them to control risk and be passive in trading strategies when the performance of the "military industry" sector is significantly lower than expected sex.

And almost at the same moment when the "Anzhao Department" funds responded and adjusted their trading strategies, Zhou Kan, who had been staring at the line of "military industry" in Zexi Investment Company in Modu, also discovered the "military industry" sector The trend was abnormal, so he let out a soft 'huh' and said: "Mr. Xu, it's really strange. After we followed suit and bought, the buying funds we observed on the line of 'military industry' not only Did not follow up at the same time, but gave up completely, what does this mean... The other party gave up this line and regarded us as a taker?"

At least on the line of 'military industry', at least 10 billion chips have been latently bought.

"Could it be like this?" Zhou Hui still had some doubts when she heard Qin Qiuyue's more optimistic analysis point of view.

Qin Qiuyue gritted her teeth lightly, and said: "Give up the plan to continue buying for the time being, and wait and see, I don't believe in the line of 'military industry', which has been sluggish like this, let alone the one we observed. Buying funds, after buying positions with a lot of money, just kept silent."

Then, the trading options given to them are to passively reduce positions and stop losses in time.

At this moment, in the stage where the main line market of the concept of "venture capital" is gradually taking over the market of "flying coal", it is not rising but falling, and it is even more weak.

She reviewed the trend of the "military industry" sector in the previous few trading days.

"I don't know what's going on." Zhou Hui responded, "The market suddenly weakened in the afternoon. This kind of trend gives me a very bad feeling!"

Fang Xinsheng paused, and then said: "Judging from the direction of active capital attacks in the market in recent days, relying on the line of 'oversold rebound', there are not many industry sectors or concept sectors that have rotated or changed. , Whether the market can successfully build a bottom at this position in stages and complete the switch of the real mainline market, it is estimated that we will see the outcome soon.”

Although the two cities are still leading the rise at the moment, the gains have fallen back very significantly, and the net inflow of main funds in the two main-line related industry sectors is also decreasing.

"Currently, the active capital groups in the market are still trying to make mistakes."

"As long as this fund is still in the market, then we don't have to worry too much for the time being."

At this time, the market trading time has moved to 1:18.

"At the same time, it also shows that the other party has a high probability of being on this line and has not yet completed building a position."

But now that Qin Qiuyue has made up her mind and adjusted her trading strategy, even if she has some doubts and disagrees with some of Qin Qiuyue's views, she will still execute the relevant trading orders unconditionally.

Qin Qiuyue pondered for a moment, then continued: "The weak market at this moment not only does not explain the weakness of the 'military industry' line, but deepens our guess, and it can further explain the huge force involved in the 'military industry' line. The main funds, for this line, really have high ambitions, and there is a high probability that they want to get more bargaining chips at a low position."

As for 'infrastructure' and 'state-owned enterprise reform', the two hottest core lines in the early stage.

It was found that this line started to be independent of the market trend in the past few days. In the process of the gradual decline of the overall turnover of the two cities, there has been a situation where the trading volume can continue to expand. According to the average In the few days when the daily turnover was obviously fluctuating, the overflowing volume energy obviously exceeded 10 billion.

And the fund they managed performed very well despite the market conditions throughout April and early May.

"Besides, the line of 'Military Industry' in the afternoon is much more violent than in the morning!"

"I really feel that the other party is taking advantage of us to buy, but instead sells."

The buying power of the 'military industry' sector began to become weaker.

And 'non-ferrous metals' and 'coal' were the two main lines that led the gains before.

"If that's the case..."

With that said, he set his sights on the trading of the two cities again.

"At least 10 billion funds to open a position..."

It can be said……

"The active capital groups participating in the market will also continue to ebb on a large scale. It is estimated that the market will fall into a situation where the volume will continue to decline, the liquidity of the market will become weaker and weaker, the market will become weaker and weaker, and the willingness to participate in funds will increase. It is now in a low negative decline mode, and once it falls into this mode, I am afraid that the index will fall back to the large shock range of 2000 points to 2200 points."

At this moment, after the "Yuhang Department" funds have completely given up and continued to lighten their positions, after a short-term suspension of pallets and purchases, just like the two popular core lines of "Infrastructure" and "State-owned Enterprise Reform", the selling pressure on the market is increasing. Related industry sectors , The core component stocks, the trend is getting weaker and weaker.

Among them, the main line of "military industry" that showed a strong state in the morning and attracted the attention of many major stocks in the market.

Qin Qiuyue didn't believe that the other party came in with this level of bargaining chips, and they deliberately cut flesh and lost money in order to kill the main line.

And if the other party comes in, it's not for cutting meat or losing money.

And with Qin Qiuyue's main fund products, he adjusted his trading strategy on the line of 'military industry' again.

"As long as the market volume can fall to 1000 billion, in this continuous trial and error process, there is a concept theme of hype, or a main line of the industry sector, which is recognized by all funds in the market, arouses market sentiment, and walks out of a new era. Waves of sustainable money-making market."

After yesterday Qin Qiuyue's bold decision to continue to increase the position of trading.

"Boss Qin, what should we do now?" Seeing Qin Qiuyue's eyes staring at the board and not speaking for a long time, Zhou Hui couldn't help asking anxiously again.

"Then, the current continuous sluggish market performance will usher in a turning point."

Fang Xinsheng smiled and said: "This is impossible to predict. We can only wait for the market to come out by itself, or the moment when various funds in the market will naturally form a joint force."

"Hey, that's weird, how do you feel that the 'military industry' sector, after a strong rise in the morning, has become weaker and weaker, and the buying power on the market is also continuing to fail!" Seeing the market conditions The rapid change of form shows that at this moment, inside Yuhang and Anzhao Fund, Zhou Hui, the fund manager assistant who noticed the traces of the "Yuhang system" funds building positions, couldn't help feeling a little doubtful, and the expression on his face gradually became tense , looked back at Qin Qiuyue hastily, and reported, "Boss Qin, I feel that the market for the 'military industry' line has changed!"

"Isn't everything normal in the morning?" Qin Qiuyue also wondered.

After all, if you continue to hold on to the risky mainline sector in the form of heavy positions, the blow to the net value of the fund will most likely be extremely heavy.

Qin Qiuyue turned her attention to the 'military industry' sector, which was undergoing fierce trading, and observed carefully for a while, and indeed found that the market performance of many constituent stocks in this field was significantly weaker than that of the morning, and the amount of buying orders was strong, compared with the morning , almost showing a trend of outages, which shows that, as Zhou Hui said, the huge main buying funds that they found in this field that were "divided into parts" have completely disappeared on the market.

Fang Xinsheng thought for a while and said: "Look again, the current market trading volume is still above the 1000 billion mark, and the 1000 billion dividing line is obviously the difference between active and inactive market trading. As long as the market volume can remain above 1000 billion, even if the market has no obvious breakthrough direction for the time being, there will still be opportunities for breakthroughs and reversals.”

"Then... do we need to further reduce the fund position?" Mou Zhengxing asked.

At that moment, the other party suddenly gave up buying, and did not maintain the market at all, allowing the various short-term speculation funds that intervened in this line in the early stage to continue to kill the market, which is very intriguing.

Hearing Zhou Kan's words, Xu Xiang also hurriedly turned his attention to the 'military industry' sector. After observing for a long time, he said: "The trend is a bit abnormal, but based on the way we observed the purchase of funds before, the other party should not be able to This is the right pattern, suddenly abandoning all positions and giving up buying, this action...is really intriguing!"

"Then what should we do now?" Zhou Kan asked, "Should we continue to buy?"

Xu Xiang was silent for a while. Seeing that the index was around 2260 points, he couldn’t go up anyway, and the market hotspots were switching too frequently, without continuity. Guessing that the index is here, there is a high probability that it will not be stable, so he hesitated After a while, I couldn't help but gave up the more aggressive strategy of building positions, and said: "Since the trend of the line of 'military industry' has obviously fallen short of expectations after we tested the waters and built positions, let's take another look."

He intuited that the main funds lurking in the line of 'military industry' were not simple.

But for a short period of time, he couldn't figure out or understand the other party's motives and actions, so... he could only settle for the next best thing, look again, and wait for the other party's next move. In addition, he felt that the hype logic and future expectation logic of the "military industry" line still lacked some enthusiasm.