The investment era of rebirth

Chapter 459 The organization that secretly turned!
However, even if the selling volume of the entire market can increase sharply again, the on-market funds actively undertaken will decline.

'Real Estate', 'Architectural Decoration', 'Building Materials', 'Military Industry', 'Public Transportation' several major industry sectors, as well as 'State-owned Enterprise Reform', 'Internet Finance', 'Real Estate Development', 'Cement', 'High-speed Rail' ' and other concept sectors, still maintain the trend of the two cities leading the rise, completely replacing the previous pattern of 'consumption', 'medicine', 'finance' and other defensive main lines leading the rise, so that the core focus of the market, as well as the main line of hot spots, It has returned to the original track focusing on 'infrastructure' and 'reform of state-owned enterprises'.

Of course, the weak are always weak.

Conceptual areas such as 'venture capital', 'restructuring backdoor', and 'ST sector', which are generally abandoned by the funds on the market, are still undergoing a wave of limit-downs, and many concept stocks have successively experienced flash crashes of lack of market liquidity.

As for the market in the morning, it can still compete with the main lines of 'military industry', 'infrastructure' and 'state-owned enterprise reform' for active funds on the market, and to a certain extent get out of the short-term rebound effect of 'mobile Internet' and 'smart phones' The two main lines of the "industrial chain" are also showing weakness at the moment. Many concept stocks have seen continuous net outflows of main funds.

At 2:35, the Shanghai Stock Exchange Index was still fluctuating around 2185 points, while the Shenzhen Stock Exchange Index, the Growth Enterprise Market, and the Small and Medium-sized Board Index had fallen further, especially the Small and Medium-sized Board Index. It once broke through the 3% decline mark.

At 2:38, the ChiNext Index also fell and broke through the 3% decline mark again.

At 2:40, the medium and small-cap stocks in the two cities generally lost their liquidity, and the situation of panic selling in the two cities was formed again.

At 2:42, active funds in the market began to generally gather in large-cap stocks with relatively abundant liquidity in the direction of the main board. The defensive sectors 'consumption', 'medicine', and 'finance' were once again actively attacked by many safe-haven funds. The industrial sectors and concept sectors of the main line fields of 'infrastructure', 'state-owned enterprise reform', 'Internet finance' and 'military industry', which once led the market rebound, are also under the situation of panic selling, and the volume can be rapidly enlarged, and the trend is gradually falling .

At 2:45, the Shanghai Stock Exchange Index fell and fell back to the 2185 point.

Su Yu nodded slightly, and responded: "We supported the two core main lines of 'infrastructure' and 'state-owned enterprise reform', indicating the possible main line of hype in the market. Under a weak situation, it is natural... small and medium-sized boards, entrepreneurship The line of 'growth stocks' in the board sector was instantly abandoned by the market."

"Yes, taking a short break is the only safe option."

At 2:56 a.m., a small-cap concept stock in the reorganized backdoor sector called 'Cologne Shares', the stock price soared from the limit down. In less than half a minute, it was bought by nearly [-] large orders and pulled The rise became popular, waiting for the top of the two cities' instant price increase lists, attracting the attention of a large number of retail investors, and at the same time tempting retail investors to follow suit.

"It's useless to just hold back!"

In the main hot money group of Yuhang where Su Yu is, some people are emotional.

Li Meng looked at the background data of the fund and replied: "After more than an hour of all-out buying, we bought a total of 33.29 billion new chips in the corresponding target stocks, of which the 'Yuhang No. 1' fund product And the position level of the 'Yuhang No. 2' fund product has already touched the 70% position threshold, and it is not far from the 85% full position line."

"Today's stock index did not fall too much, but the small and medium-sized board and the ChiNext board are really miserable. Many conceptual fields dominated by small-cap stocks have seen a limit-down wave!"

"There are basically no stocks that can be traded today, and the effect of losing money in the market is almost to the extreme."

Su Yu paused, and said: "In the last stage of the late trading, it is a normal market reaction that the small and medium-sized board and the GEM were killed like this. After all, in the current market, the amount of active funds can be very limited, and it cannot support multiple main lines at all. If the market breaks through, there must be a trade-off.”

Therefore, after sensing the extreme risks that the fund may have after adding the position, she directly said it without any worries.

At 2:55, the decline of the small and medium-sized board index shrank back to the 3% mark, and the decline of the GEM index shrank to 2.87%. The main funds in the market, who were trapped, began to take advantage of the short-term rebound of the market to save themselves.

Li Meng replied: "Today's performance is slightly stronger than that of the Shanghai Stock Exchange Index, but our overall position is already approaching the water level of the heavy position. If the follow-up market trend is still not as good as we expected, and we cannot control the market, we will guide the sustainable market. In this situation, I am afraid that the range of net worth retracement will expand instantly."

At this moment in Yuhang, inside Yuhang Investment Company, in the trading room of the main fund, Li Meng finally breathed a sigh of relief, and said: "Our pallet, although it failed to restore the market's decline, has finally placed the index on the market. The place not far from 2200 points left a ray of hope for the market outlook to stand back to 2200 points, that is, the trend of the small and medium-sized board and the growth enterprise market, today is a bit horrible!"

"Short position, continue to short position."

At this point in the market, there are very few funds that still insist on being bullish and dare to increase their positions against the trend.

This is the reason for her inner uneasiness and anxiety.

"If the stock index had returned to 2200 points in late trading, then you can take a look at it. Now, the golden needle has not bottomed out, so today's intraday low point will definitely be refreshed again in the market outlook. In other words... the low point If you haven’t found out, then you have to continue to find out!”

In other words, the pallets are open today, and a huge amount of money is used to openly sweep the goods on the disk.

"Looking at the closing results, are the two lines of 'infrastructure' and 'state-owned enterprise reform' almost in place? The performance of these two lines today is suspected to be the effect of the 'state-owned' background fund tray, but overall According to the market trend in the last hour of late trading, this line is still one of the few net inflows of buying funds in the entire market."

"Hey, I have to say that the market sentiment is really bad."

Li Meng believes that if you make a wrong choice in the direction of a large investment strategy, it will be extremely difficult to adjust or lighten your positions.

Under the current market liquidity, once the position volume reaches tens of billions.

"Why don't you believe it? On the whole... even in the current market, there is still no clear effect of continuing to make money."

"But if the adjustment is in place, it may not necessarily be able to rise. The key depends on how the overall investment sentiment and investment confidence in the market will change next."

"In the follow-up, as long as we re-provoke the market nerves of these two main lines at the critical moment, we will quickly gather money-making effects in this direction."

Facing such a closing situation...

"The index has broken through the support of the 2200-point mark. To be honest, this kind of pallet is indeed a bit of a waste of money, and it cannot achieve the purpose of reversing the long-short situation in the market."

"If it is the main funds of the 'state-owned' background, it should be able to settle down, right?"

At 2:46, within the four major areas of 'infrastructure', 'state-owned enterprise reform', 'Internet finance', and 'military industry', Gemdale Group, Huaguo MCC, China Fortune Land Development, Huaxin Cement, Conch Cement, Huahang Electromechanical, Huahang Radio and Television , Hangfa Technology, Hengsheng Electronics, Flush, Dongfang Fortune... and more than 20 core concept stocks, once again a huge number of super large order pallets emerged on the disk, which firmly withstood the panic sell-offs on the disk .

Su Yu smiled and said, "It's okay, let them guess. It's best to have more guesses, and the more fermented relevant news, the better."

"Indeed, the very strong pallet method is a bit like the main funds of the 'state-owned' background, but the fly in the ointment is that although this fund temporarily supports the market, it does not actually open up the market situation, nor does it solve the problem of the market. There is a fundamental crisis."

If you don't think about winning, think about losing first.

Medium- and large-cap stocks with better liquidity are obviously stronger than small-cap concept stocks.

"It would be a good thing if the funds can be settled after buying."

At 2:52, the market once again ushered in a brief rebound.

Li Meng hesitated for a moment, thought for a while, and continued: "Since the amount of funds managed by our company is already very large, and the three main funds under our company have a relatively large overlap in the positions of individual stocks and investment directions, then In addition, the heavier the position, the more passive we appear to be in operation, and the follow-up... the risks we face are still very large!"

"How can it change? If the stock index loses the support level of 2200 points, it will definitely drop to 2000 points."

"It should be adjusted almost in place, right?"

I saw that in the end, it was still several major related industry sectors and concept sectors centered on 'infrastructure' and 'state-owned enterprise reform', followed by the performance of main concepts such as 'military industry', 'Internet finance', and 'Shanghai free trade zone'. Immediately afterwards, defensive mainline concepts such as 'consumption', 'medicine', and 'finance' performed significantly better than the market, while concepts such as 'venture capital', 'restructuring backdoor', 'ST sector', 'mobile Internet', 'smartphone industry chain' and other mainlines, which mainly focus on small and medium-cap concept stocks, performed relatively weakly, and underperformed the market one after another.

"The main lines of 'infrastructure' and 'state-owned enterprise reform' in the afternoon, and the funds that forcibly resisted the pressure of panic selling in the market, should be the only bright spot in today's market, right?"

"I hope!" Li Meng nodded, and continued, "Today we have traces of trays in the lines of 'infrastructure', 'state-owned enterprise reform', 'Internet finance', and 'military industry', which are quite obvious. After the market closes, there should be no less speculation in the market, will this affect our subsequent trading strategy plan?"

In other words, they have increased their positions to this point, and they have lost the initiative in trading strategies.

Among them, stocks such as Gemdale Group, Huaguo MCC, Conch Cement, and Huaxin Cement in the field of "infrastructure", and Changqu Technology, Huaqingbao, Anjie Technology, Li Stocks such as Xun Precision and Huayi Brothers are in stark contrast.

"Don't worry too much." Su Yu said with a smile, "Our steps to increase our positions are not very big. Up to now, we still have a maximum of more than 90 billion funds that can be used, which is enough to maintain our trading strategy. At the same time...Looking at the market performance after we support the two core themes of 'infrastructure' and 'state-owned enterprise reform' today, the majority of investors in the market still have a high degree of recognition for these two core themes. of."

"Didn't the two upside rebounds in the session be suppressed by selling? It doesn't mean anything!"

Finally, the closing time at 3 o'clock.

In addition to the index, the main lines of the market, the performance of various industry sectors, and concept sectors.

Especially in the direction of basically the same main line.

"It's just that the overall investment sentiment and confidence in the current market are too weak. In addition, the external market trend is not good, and there are new stock listings sucking blood. Even if everyone realizes that the two lines of 'infrastructure' and 'state-owned enterprise reform' still have hype logic, And the adjustment is basically in place, but it still seems quite hesitant and dare not follow up boldly.”

"In other words, the hype logic of these two core lines still exists."

At 2:51, at the moment when the market entered the last 10-minute trading session in late trading, speculative bottom-hunting funds began to enter the market, giving the plummeting two markets a chance to breathe again.

"The effect of losing money has not yet reached its extreme? In my opinion, the current node is the freezing point of emotions."

As for individual stocks...

"at the same time……"

"Oh, that's right..." Su Yu thought for a while, and then said, "Since we issued the tray purchase order, how many new chips have we bought in total since the closing?"

"In addition to cutting positions and stopping losses, there is no other way to go. Seeing today's 'infrastructure', 'state-owned enterprise reform', 'military industry', and 'Internet finance' these lines, in the performance of the last hour of late trading, out of the There is a hint of strong performance and money-making effect, but believe it or not, when the market opens tomorrow, these major lines will quickly fall back.”

Therefore, under the premise of not publicly exposing trading seats, these few funds that can identify their motives and firmly follow suit will not have much impact on their overall increase in positions. At the same time... market investment sentiment and Confidence is too low. In order to prevent the market from completely sliding to the bottom abyss of 2000 points in the early stage, Su Yu also hopes that some smart market funds can see through their motives and firmly follow the trend to stabilize the market.

And just as Li Meng guessed, in the domestic financial market at the moment, countless investor groups, after a brief review, are interested in the large-scale undertaking of the "infrastructure" and "state-owned enterprise reform" fields at the critical time in the afternoon. The core component concept stocks quickly pulled up the market, and in the last 10 minutes of the late trading, the huge main funds that swept the pallets again generated strong interest, and at the same time led to countless discussions and speculations.

"so……"

"Once the position of 2200 points is lost, I am afraid that the previous important support level will become an important pressure level in seconds, right?"

"Short positions during this period really beat 99% of the investors in the market, but...is no one still optimistic about the market outlook? I think there is really no need to be too pessimistic here, and today's index, whether it is morning or afternoon, is extremely After the panic sell-offs, there is an obvious and powerful upward rebound trend, which should explain some problems. At the same time, from the closing results of the index, compared with the opening point, it has not fallen much."

"The sentiment and confidence in holding shares in this direction of the majority of investors in the market will improve."

At 2:48, the Shanghai stock index returned to the 2185-point mark, but the decline in the small and medium-sized board index further expanded to 3.29%.

At 2:54, the Shanghai stock index hit the 2190 mark again.

However, the following batch of stocks, when the market closed, basically all showed a large net outflow of large funds.

In terms of market trading operations, she is still more cautious than Su Yu's personal operating style.

"It is estimated that on the data of today's Dragon and Tiger List, all funds are sold out again."

When the market in the two cities was frozen, the Shanghai Index stagnated at 2188.39 points, down 1.31%, the Shenzhen Index fell 1.98%, and the ChiNext Index fell 2.73%. The total turnover of the two cities was 1389.33 billion.

He also did it on purpose.

"How much has the net worth withdrawn?" Su Yu continued to ask.

The previous batch of stocks, when the market closed, basically all showed a net inflow of large funds.

"The key is at this moment, the periphery and the interior, at a glance, are all negative. How can the market go up?"

Along with the refreshment of news in the group, in the discussions among the hot money tycoons, the view on the market outlook is still dominated by the absolute advantage of the short side, and there are very few bulls.

Among the vast retail investor groups in the market, the bearish group is even more in a crushing situation.

However, among the institutional groups, especially a series of major institutions with a 'state-owned' background, there are some well-informed and sensitive institutions that are finding that today's trays of 'infrastructure', 'state-owned enterprise reform', 'military industry', 'Internet finance' 'After waiting for the source of the main funds related to the main line, I couldn't help but start to adjust the trading strategy silently. Both in public speeches and in actual operations, I started to turn from idling to more.

(End of this chapter)