The investment era of rebirth

Chapter 531 Competition for Market Dominance ([-])!
"Hey, it's really possible." Hearing Zhang Guangnian's words, Liao Guanghua smiled and responded, "The first fire in this market wants to be ignited. Under the huge pressure of the regulators, institutions like us, If you don’t do something, I’m afraid you won’t be able to justify it.”

Zhang Guangnian nodded slightly and said: "Frequent offline investment strategy meetings and macro guidance from the regulators will definitely be there. Although no one will say it clearly in the end, they are all within the same system, and we have to talk about human relationships and relationships. "

"So!" Liao Guanghua sighed helplessly, and said, "Instead of waiting for the macro guidance, it is better for us to take the initiative. At least now we take the initiative, and we can still occupy relatively low-priced, high-quality target chips, and at the same time... …It can also leave a good impression on the leaders of taking care of the overall situation.”

"The A-share market, in the final analysis, is still a policy market."

"The 'Yuhang System' has publicly revealed its cards, and the gamble in the field of 'big infrastructure' is not so much to see the general direction of investment logic of this line, it is better to say that it has pinpointed the supervision of the regulatory authorities at this time. Seven inches, knowing the direction of the market policy and the favorable direction of the future, will definitely continue to blow on the line of 'big infrastructure'."

Zhang Guangnian nodded and said with a smile: "This President Su's investment vision and trading strategy are indeed not to be underestimated in terms of the macro market structure. The market analysis article that this President Su published on the Internet today is actually pretty good. Well, it’s just that there are probably not many people who can really realize the value of this market analysis article.”

"Hmm!" Liao Guanghua nodded, "I heard that at today's offline investment strategy meeting in Shanghai, most of the managers of industry institutions who participated in the meeting are more optimistic about investment opportunities in emerging economic industries."

Zhang Guangnian smiled and said: "At the strategy meeting, Mr. Liu from the 'Pingyin Department' was the one who spoke. Of course... everyone is more optimistic about the investment opportunities in the market's emerging economic industries. This is also a fact. After all, the weight of the main board is When it comes to concepts and stories, there is indeed little room for imagination, and at the same time, the stocks of various weights have a large circulation and deep lock-ups, and it is quite laborious to pull them up, so naturally they will not be popular."

"However, pro-cyclical investment and counter-cyclical investment follow different logics."

"In the field of emerging economic industries, although market expectations are high, concepts and stories are strong, but the same, the current valuation level is also high."

"It is said that the current market has entered the stage of emerging investment logic."

"Many people have threatened that 'value investing' is destined to be unacceptable in our A-shares, and that it is an old-fashioned evil way to look at PE investment."

"Unbeknownst to them, 'Security Value' is not a constant price range."

"It's one of the most important yardsticks for securities valuation."

"Due to the influence of market sentiment, the price of securities in the short and medium term will indeed completely deviate from the fundamentals, but if the time line is extended, the 'value' will still return."

"As far as the two emerging economic industries of 'smartphone industry chain' and 'mobile Internet' are currently being hyped, no one doubts that these two areas will continue to thrive in the next two to three years. Both are optimistic, so these two areas, up to now, it is difficult to have a significant difference in expectations.”

"And once there is no room for expected difference, then naturally there will be no excess investment profits in terms of valuation fluctuations."

"After all, in the short and medium term, the stock price still depends on expectations to feed back."

"However, in contrast to the fact that various institutions have reduced their positions and left the market, and the volume has shrunk to historical extremes in the traditional areas of the main board weight. Although overall, the investor group is very pessimistic about these areas, they also estimate that Value performance is also at the most pessimistic lowest valuation position in history."

"Low expectations, coupled with low valuations."

"Once a strong hurricane of policy blows, once the development of its industry's fundamentals reverses dramatically, the potential for growth in its field will be quite huge, and it will instantly form a 'David' with rising valuations and rising investor expectations." Double-click 'trend."

"I have the same idea as you." Liao Guanghua said, "Besides, there is another point. In addition to changes in policies and fundamentals, in terms of technical analysis of the market, the line of 'big infrastructure' is also important." It has the potential to continue to explode.”

"April, and the wave of favorable market trends in early May."

"The line of 'big infrastructure', under the strong influence of the funds of the 'Yuhang Department', has already played a very good leading role in the entire market, and after that period of continuous pull-ups, over the years, the backlog of The huge holding chips on this line have loosened a lot."

"This is the advantage of the chip structure that other traditional mainline fields do not have in the direction of the main board."

"so……"

Liao Guanghua paused, and said: "Next, if the regulators want to create a sustainable market, the direction of macro guidance will undoubtedly be the line of 'big infrastructure', and at the same time, only this It can carry a huge amount of 'state-owned assets' into the market, and can fulfill some of the strategic goals of high-level leaders in the 'reform and reorganization of state-owned enterprises and state-owned enterprises' and 'new silk road on the sea and road'."

"Agreed!" Zhang Guangnian said with a smile, "So... the current card played by the 'Yuhang Department', although the recognition of various institutions in the industry is not high, everyone is not willing to enter the market to increase their positions to carry this fund. , thus quickly began to focus on emerging economic industries, trying to open up the situation in other main directions, but it undoubtedly hit the heart of the regulators, and found a breaking point for the regulators.”

"Haha..." Liao Guanghua laughed loudly, "It seems that the legend of the 'Yuhang system' will continue!"

"This main force of funds has been standing in the 'right direction' of the market trend development, there is no reason not to succeed!" Zhang Guangnian said, "However, there are many people who are popular, and the higher they climb, the risk of falling more painful. If the stock funds are in the future, if you don't change this investment style that concentrates heavily on one or two main lines, it will be a matter of time before you become mediocre. After all... Facing the unpredictable financial trading market, no one can always stand in the market The trend is 'in the right direction'."

Liao Guanghua nodded and said: "That's right, concentrated investment is an evil way after all. I only hope that this kid can comprehend and understand this after he really grows up!"

The two of them were chatting...

And the market time, while the two of them were chatting, quickly slid forward, and it was time for the outer market to open.

As a whole, the global market sentiment recovered during the day, U.S. stocks opened slightly higher, and a series of technology giants’ stock prices trended strongly. Among them, Apple rebounded quickly and continued to recover its previous losses. The stocks in the smartphone industry chain have also all broken out of the weak state in the early stage, following the trend of Apple's stock price, and have come out of a strong rebound.

Faced with the trend of US stocks opening higher and moving higher, and the form of "technology stocks" leading the market trend.

At this moment, whether it is a group of retail investors who are optimistic about the direction of "conceptual growth stocks" in the Shenzhen stock market, or even a group of investors holding positions, as well as institutional groups who are optimistic about investment opportunities in emerging economic industries, or like "Pingyin Asset Management", Participating institutions that have already made large-scale deployments in emerging technology fields such as 'smartphone industry chain' and 'mobile Internet' have further increased their confidence in holding shares and investing in them.

And under such emotional interpretation.

In the evening, late at night, and during the day, a group of "Apple Industry Chain" stocks that performed brilliantly during the day, as well as core hot stocks in the fields of "film and television media" and "mobile Internet" have once again climbed to the top of the list of hot stocks in the two cities, and even have Many people began to place orders late at night to snap up related core stock chips.

However, under the fiery emotional reaction of everyone and the heated discussion of the topic.

The next morning, when everyone woke up, they found that after the U.S. stock market opened higher at the beginning of the session, at the end of the second half of the night, it actually dived and recovered all the intraday gains. The relay Yin cross caused the entire trend pattern to change from a clear rebound to an uncertain decline relay, or a continuation of the downward trend.

In short, in the pre-market stage of the A-share market in the morning.

Affected by the trend of the US stock market, everyone's confident mood has been greatly affected.

Of course, when the external market trend of U.S. stocks is obviously lower than the expectations of the majority of domestic investors, the "technology stocks" that everyone pays more attention to, the so-called emerging economic industry investment fields, have performed relatively well. A series of Internet technology stocks listed in the U.S., As well as stocks in the smart phone industry chain, they have maintained a continuous rebound trend, showing a performance that is significantly stronger than the broader market index.

In addition to these simple external market trends.

Before the market opens, around 9 o'clock in the morning, the main institutional groups of all parties in the market, and even many financial investment institutions, the so-called chief investment consultants, analysts, and well-known fund managers in the market are doing pre-market analysis. At that time, the analysis point of view still pointed to the two emerging economic industries of 'smartphone industry chain' and 'mobile Internet', indicating that the main line of 'conceptual growth stocks' in the Shenzhen Stock Exchange will still be the most core main line of investment in the development of market conditions.

Among them, Shenzhen Stock Exchange, 'Pingyin Asset Management' is the core and main institution in the market.

They also disclosed the positions of several self-operated funds and public offering funds before the market, indicating that they will continue to be optimistic about the market of emerging economic industries such as 'smartphone industry chain', 'mobile Internet', 'film and television media', and related The future business and performance development of the core company.

Under the guidance of the investment views of these institutional groups, as well as the performance of a number of technology stocks in the external market.

Before the market, the majority of retail investor groups in the market, as well as many groups of medium and large investors with hot money, have also begun to be greatly affected in terms of market views. Emerging economic industries such as 'Smartphone Industry Chain', 'Mobile Internet', 'Film and Television Media' etc.

"Boss, the overall emotional reaction of the market shows signs of becoming more and more inclined to the main lines of emerging economic industries such as 'smartphone industry chain', 'mobile Internet', and 'film and television media'." Inside Yuhang Investment Company, in the trading room of the main fund, Wang Can, the trading team leader, kept refreshing the news on the computer interface, and reported to Su Yu who walked into the trading room, "This emotional change is a bit fast. In the field of traditional main line investment, except for the main line of "big infrastructure" and a few popular leading concept stocks that performed well yesterday, there is basically no hot topic. I feel that under this mood, the trend of the Shanghai stock index at the opening today may not be good."

Su Yu sat in front of his exclusive computer in the trading room, and carefully refreshed a lot of market news and the most popular topics in the general discussions among retail investors, and responded: "How do you say something? Its destruction is to make it crazy first. The more the overall market sentiment at this moment converges towards the emerging economic industries such as 'Apple Industry Chain', 'Mobile Internet', and 'Film and Television Media', which are relatively high in market hype, then after the market opens, in Under the high-pitched pre-market expectations, there will be less room in the market.”

"Don't worry too much..."

When Su Yu said this, he paused, and continued: "This kind of market sentiment reaction is actually better than we expected."

The stronger the pre-market sentiment, the more difficult it is to hit the intraday expected space and stock price height after the market opens.

In particular, the current overall market trend has not made a macro breakthrough, that is, the market’s incremental capital is insufficient, the overall investment confidence is not high, and the overall market liquidity and trading volume are also very limited. It is difficult to go high when it is fully opened under the support.

On the contrary, sentimental expectations are lowered. They plan to attack the "Internet Finance", "Ari Baba Concept", and even "big infrastructure" hot concept stocks in small and medium caps that are moving the market. The current popularity is not high. It is easy to open up the profit-making effect and the room for stock price rise.

"Agree!" Li Meng smiled, agreeing with Su Yu's words, and said confidently, "LeTV has such a large amount of power yesterday, and it is so obvious that one company dominates the dragon and tiger list. Today, this stock in the pre-market The hotter it is, the greater the opening range will be, and the greater the market pressure will be, I don’t believe that the institutional funds that attacked yesterday can still forcefully close this stock today like yesterday.”

"If the other party continues to buy, I'm afraid they will touch the 5% mark line?" Zhao Lijun answered.

"Master, we should still have a lot of positions on the LeTV check, right?" Liu Yuan asked after thinking for a moment.

Although the trading team she manages has basically sold out the chips for this check, she remembers that Su Yu was still more optimistic about this stock before. In terms of the position structure of the 'Yuhang No. 1' fund, the amount of this check has increased. The proportion of holdings is weighted.

(End of this chapter)