The investment era of rebirth

Under the influence of this external market trend.

The next day, in the morning, the pre-market sentiment in the domestic financial market was once again upsurge, and amidst this upsurge, "LeTV, Wangsu Technology, Hengsheng Electronics, Lixun Precision" and other "technical Growth stocks' attention, and the heat of discussion, also soared in a straight line.

As for the mainline fields of "pan-infrastructure" such as "military industry" and "steel" that had a certain profit-making effect yesterday and are supported by favorable conditions, and a lot of popular concept stocks, compared with last night, there are obvious signs of decline .

"The trend of the market has always been focused on the "growth stocks" of the small and medium-sized board and the ChiNext board." At 9:[-] in the morning, before the market officially opened, Lin Tingzong, the fund manager of Yuhang Jingda Investment, was in the trading room of the main fund at this moment. Observing the changes in market sentiment and discussions on hot topics in major stock forums on the Internet, with a smile on his face, he turned his head and said to Gu Chijiang who was on the side, "With the continuous cooperation of the external market trend, if this popularity continues like this, The market reappeared in the second half of last year, and it is basically a certainty.”

Gu Chijiang also noticed the change in market sentiment before the market, nodded slightly, in a good mood, and said with a smile: "From the current point of view, it should be, the main institutions of all parties in the market, in recent days, in the 'smartphone industry chain', 'mobile On the Internet', 'film and television media', and 'Internet finance' lines, there are really a lot of bargaining chips for Masukura. I feel that all institutions and groups are indeed forming a consensus on the main line of 'technology growth stocks' Expected."

"The key is the trend of the external market, which is also changing." Lin Tingzong said, "All investment institutions in the A-share market have always liked to follow the trend of external markets. With the continuous stimulation of the external market, this is better than domestic news. Stimulation works better."

"I really didn't expect that in the past few days, the institutional groups would increase their positions so aggressively on the line of 'technological growth stocks'." Gu Chijiang had to admire Lin Tingzong's previous judgment when he said this , Hehe laughed and said, "Old Lin, you are still the best. Our current wave of real-time position adjustments really just caught up with the market."

Because of Lin Tingzong's decisive adjustment of positions.

In the past few days, the net value of their company's main fund has soared all the way. In three days, it has soared by nearly 10 points, setting a new high in the net value of the fund since its establishment.

Hearing Gu Chijiang's praise, Lin Tingzong was a little embarrassed, coughed lightly, and said: "It just happened to catch up, but despite the current market sentiment and investment expectations, it is still rapidly moving towards the 'technology growth stocks'. The lines have changed, but there is no doubt that the differences in the market still exist.”

"You mean the line of 'big infrastructure'?" Gu Chijiang said.

Lin Tingzong nodded, and responded: "Yesterday's changes in the 'military industry' and 'steel' sectors did not fully stimulate the line of 'big infrastructure', nor did they develop in depth, which caused the hype to spread in the direction of traditional investment on the main board. , but the money-making effect is not bad.”

"And because of the public adjustment of funds from the 'Yuhang Department' and the influence of the seat on 'Wealth Road'."

"At present, the vast number of investors in the market still have a lot of investors who are biased towards the direction of 'big infrastructure' in terms of market market expectations."

"This is the source of the divergence in the market, and it is also the root cause of several major core indexes in the market. The volume can explode, especially greatly affecting the entry of incremental funds in the market."

Gu Chijiang nodded when he heard Lin Tingzong's words, and said: "The influence of the 'Yuhang Department' cannot be underestimated, but the entire market has no funds that can go against the trend. If the market's investment sentiment and investment expectations, It has been developing towards the line of "technology growth stocks", and the market's profit-making effect is also expanding in this direction, so no matter how big the market influence of the "Yuhang Department" is, the market will gradually move towards "technology growth stocks". If this direction is shifted, the market pattern of 'weak Shanghai and strong deep' will still form and continue."

"After all, the fundamental purpose of the investor group entering the venue is not to 'chase stars', but to make money."

"Funds are like water. Wherever there is a profit-making effect and where it is easy to make money, they will flow there. No one can stop it, and no one can stop it."

"Now……"

Gu Chijiang paused, and continued: "Anyone with a discerning eye can see that the stock index is trapped under the pressure of 2300 points, and it is not so easy to break through completely. At the same time, the amount of stock in the market is limited, and it cannot support the tens of thousands of "big infrastructure" at all. With a market value of [-] million yuan, we can only make side breakthroughs in the direction of "technological growth stocks" with certain expectations, first drive the Shenzhen Stock Exchange Index and the ChiNext Index to go up, and then use the breakthrough Shenzhen Stock Exchange Index and the ChiNext Index as the core to slow down the profit-making effect. Slowly spread in the direction of the main board, and finally drive the Shanghai stock index to make a breakthrough."

"so……"

"I don't think the current 'Yuhang System' funds can hinder the progress of this market trend."

"On the contrary, I think..." Gu Chijiang thought for a while, and then said, "The funds of the 'Yuhang Department' have been using their own market influence and using the seat of 'Wealth Road' to lure the market on the Dragon and Tiger List, and induce The sentiment of the majority of investors in the market creates a divergent trend in the main line of the market, and most of them will shoot themselves in the foot."

"Why did Mr. Gu say that?" Lin Tingzong asked.

Although the trading strategy he follows is contrary to the investment direction and investment strategy of the "Yuhang Department" fund in the market at this moment, he is not concerned about the "Yuhang Department" fund itself, and even Su Yu. This industry legend who has risen for a year is still very admired in his heart.

Gu Chijiang said with a smile: "Institutions are collectively advancing in groups on 'Technology Growth Stocks', which is obviously to create the main line of 'Technology Growth Stocks', to break through with the Shenzhen Stock Exchange and the GEM as the core, and completely avoid 'Yuhang'. It is a traditional investment field such as 'big infrastructure' and 'military industry' dominated by "heavy warehouses."

"Through the disk performance in the past few days..."

"It can be clearly seen that the investment strategies of many core and main institutional groups in the market have already stood on the opposite side of the funds of the 'Yuhang Department'."

"In other words, both are already too involved at this point."

"The market's disagreement on the main market, that is, whether to turn to the direction of 'big infrastructure', focusing on the breakthrough of the Shanghai Index, or the main line of 'technological growth', focusing on the breakthrough of the Shenzhen Index and the ChiNext Index, is no longer just a transaction. The strategy and investment strategy are different, but about the competition for the initiative in market conditions.”

"Seeing the rapid rise of the 'Yuhang System' and the rapid expansion of asset management scale."

"There are many jealous people in the industry, I'm afraid they have hated it long ago."

"But just for a while, there is no way to deal with the funds of the 'Yuhang Department'."

"Nowadays, with the in-depth development of the 'big infrastructure' market, the core holdings of the 'Yuhang system' are actively exposed, and the peripheral market, and even the global market, are driven by the main investment line of 'technological growth'. The so-called The era of 'emerging industry investment' has arrived."

"Under such circumstances..."

"All institutions focus on the direction of 'technological growth stocks', that is to isolate the funds of the 'Yuhang Department', completely avoid the main line of holdings of the 'Yuhang Department', and avoid raising the sedan chair for this fund, and at the same time concentrate their strength , breaking the performance myth created by this fund in the domestic financial trading market in the past year."

"Didn't you also say before that the 'Yuhang Department' fund has always been relatively aggressive in terms of operation strategy?"

Gu Chijiang finally smiled and said: "Such an aggressive operation strategy has resulted in a natural performance increase, but if it fails, the performance myths created by the various funds of the 'Yuhang Department' will be completely shattered, and once this This kind of high-growth performance expectation is shattered, and the "Yuhang" fund, which is currently held on the altar by everyone, will instantly face the situation of being abandoned by the majority of investors. , and... Judging from the current market trend and the continuous emotional reaction, the 'Yuhang system' is doomed to fall."

Lin Tingzong thought about Gu Chijiang's words carefully, and said, "Mr. Gu has some truths, but I always feel that Mr. Su from the 'Yuhang Department' should not be unaware of this risk."

Although he is very optimistic about the performance of the main line of "technology growth stocks" in the market outlook.

But he doesn't think that the group of institutions grouped together on this main line to snipe at the funds of the 'Yuhang Department'.

Of course, for the main fund of the 'Yuhang Department', the recent continuous operation in the market, as well as for the traditional investment field of the main board of the Shanghai Stock Exchange, the large-scale continuous increase in the layout of the position, and the firm and optimistic view, it is difficult for him to understand for a while... .

"In this world, people who drown are often good at swimming." Gu Chijiang said with emotion, "President Su of the 'Yuhang Department' is only about 25 years old. Outstanding, but it is inevitable that when you make great achievements, you will fall into an inflated heart, and you will have certain cognitive obstacles, and you will feel that only what you know is correct."

Hearing Gu Chijiang's emotion, Lin Tingzong remembered that in the domestic financial market, there have been many "flash in the pan" genius trading masters in the past 20 years, and considering Su Yu's current age, he had to agree with Gu Chijiang's words With emotion, I finally found a more reasonable explanation for the question of 'why the main capital of the Yuhang Department insists on investing heavily in the traditional investment field of the main board' that I still can't figure out.

And when he found a reasonable explanation for this puzzling question.

Almost subconsciously, Lin Tingzong's thinking about the possibility of a rapid shift in the market to the direction of "big infrastructure" and the corresponding risk awareness instantly relaxed.

Just when the two of them conducted a comprehensive analysis on the pre-market market, and determined their position plan and original trading strategy.

As the core of the discussion focus between the two.

At the moment inside Yuhang Investment Company, in the trading room of the main fund, Su Yu is gazing at the Internet, and is quite satisfied with the heated discussions on 'Technology Growth Stock'.

Noticing the smile on Su Yu's face at this moment, Li Meng, who was sitting next to him and also observing the emotional changes in the two markets before the market, was completely incomprehensible, frowned, and asked, "As far as the emotional performance of the market is concerned?" , why are you still laughing? I feel that after the stimulation of the external market last night, the investment sentiment and expected direction of the domestic market have begun to shift in the direction of the concept of small and medium-sized growth stocks, which is not good for us..."

"Why is it unfavorable?" Su Yu asked with a smile.

Li Meng was taken aback, and responded: "In the stock market, expectations and sentiments have been shifting to the field of small and medium-sized growth stocks. Naturally, we are leading the main board's "big infrastructure" direction, and even the "military industry" direction that has finally recovered yesterday. The liquidity of active funds is even worse, and if we want to pull the market in these two directions, it will naturally be more difficult when expectations and sentiments are not supported."

"Well!" Su Yu nodded, "The points you said are true, but don't forget that the vast group of investment institutions that focus on the direction of small and medium-sized growth stocks are not consistent in the order of intervention, and the cost of holding positions is also inconsistent. , not only inconsistent, but very different.”

"In other words, in this direction, the chip structure is extremely chaotic."

"The fiery emotions before the market can only lead to the opening at most."

"But in the case of chaotic bargaining chip structure, in the market form of stock game, opening higher...do you think it is a good thing?"

Hearing Su Yu's words, Li Meng pondered for a while, shook his head, and said, "According to the market performance of the small and medium-sized growth stocks in recent days and the sharp increase in trading volume, opening higher will actually lead to higher prices." Overdrafting the trend expectations within the day suppresses the enthusiasm for following the trend of active short-term funds on the market.”

"Yes!" Su Yu said with a smile, "High fluctuations, under divergent trends, and the emotional fiery opening sharply higher, that is the best selling point for short-term profit taking in trading."

"same……"

Su Yu paused, and continued: "Yesterday, the 'steel' and 'military industry' sectors, which showed a certain profit-making effect and market funds followed suit, today's market investment sentiment and discussion enthusiasm before the market, although far behind the growth of small and medium-sized However, the intraday market expectations left out are more open, and it is easier for us to create a profit-making effect that exceeds expectations in the intraday market, as well as the sector market.”

"The initial stage of the market outbreak, or the shock stage when the market volume is insufficient, or even the bear market stage."

"The expected trend of the intraday market when the market opens higher is far worse than the expected trend of the intraday market when the market opens lower and fluctuates."

"To be honest, before this morning, I had some worries and hesitation about the Shanghai stock index breaking through 2300 points here, attracting funds on and off the market to concentrate and return to the direction of 'pan-infrastructure', but now... see the pre-market sentiment Instead, I focused on the concept of small and medium-sized growth stocks, and I became more confident and determined."

"In this world, everything has two sides, and the transaction is the same."

"Many people see investment opportunities in the direction of 'technological growth' under the influence of emotions and the guidance of the external market, but they don't know that the more emotional the direction is, the less expected differences are there to speak of, and the more difficult it is to exceed expectations. market trends."

"Because no one is a fool."

"The market won't make money for the vast majority of investors."

"When everyone realizes that this is an opportunity, in fact, this opportunity is often a trap!"

After finishing speaking, without waiting for Li Meng's response, Su Yu quickly turned his attention to the trading market of the two cities again.

At this time, during the short conversation between the two and the analysis of the pre-market market, the time has advanced to 9:15, and the two cities ushered in a call auction.