The investment era of rebirth

Chapter 565 The Journey of the Bull Market ([-])!

"Not to mention, it's really possible!" Xu Xiang pondered for a while, and said, "If the active capital groups in the market continue to be siphoned off by the main lines of 'infrastructure' and 'military industry', everyone's expectations will be further concentrated on the main board's weighted blue-chip stocks. , If the value of blue chips in the entire market is revalued, then the market trend... with a high probability, it will go directly to the main board of the Shanghai stock market, and it will be one-sided."

"Reassessment of the value of the weighted blue chips?" Zhou Kan said in surprise, "This...isn't possible?"

"Why is it impossible?" Xu Xiang asked with a smile.

Zhou Kan thought for a while and responded: "First of all, the overall capital activity in the market is not high, the intraday turnover is still below the low market water level, and the whole is still in the stage of the game of stock funds, and the incremental funds are seriously insufficient. It can’t support the continuous market of weight blue chips.”

"Secondly, the overall investment confidence in the market has not recovered, and it is difficult for potential market investor groups to be quickly attracted to the market. At the same time...now that the 'Internet Finance' industry is exploding and P2P is popular, it has siphoned a lot of market active capital groups , which has led to a relatively tighter market active capital.”

"This situation, if the market is not stimulated by a continuous profit-making effect, or a bull market effect, it should be difficult to fundamentally change."

"Finally, on the macroeconomic front, although the data in the second quarter is better, it is also extremely limited."

"At the same time, after the global economy emerged from the impact of the 08 financial crisis, it still has not completely shaken off the long-tail effect of the crisis, and there are still considerable uncertainties. Moreover, from a technical analysis of the US stock market, it does seem a bit shaky. The hidden worry is great."

"Technical aspects, capital aspects, macro aspects... have not yet fully reached the inflection point."

"Under such circumstances, it is really hard to believe that the market's heavyweight large-cap stocks have a wave of continuous big market prices, and can achieve revaluation under the continuous promotion of large funds."

Hearing Zhou Kan's analysis, Xu Xiang said with a smile: "Your analysis makes sense, but in fact, the points you mentioned are just based on the static logic and dynamic logic. The information meeting is already releasing some positive signals."

"What signal?" Zhou Kan was a little dazed and continued to ask.

Xu Xiang said: "According to the news of the Fed's interest rate meeting not long ago, the Fed has slowed down the pace of future interest rate hikes and is not in a hurry to tighten monetary policy, and this impact... will inevitably spread to the central banks of various countries, which will indirectly affect the interest rates of various countries. Fundamental financial policies, and even financial trading markets.”

"For our country..."

"From last year to this year, the two bank money shortage crises should have sounded the alarm within the financial system."

"According to my recent observations, due to the emerging 'Internet finance' market absorbing too much active capital, the liquidity of the entire economic market is obviously lacking, and the current Federal Reserve has slowed down the pace of future interest rate hikes. This, in disguise, gives our central bank some room for policy implementation.”

"Boss, what do you mean..." Zhou Kan's eyes lit up obviously, and he continued, "The central bank will release liquidity on a large scale in the future?"

Xu Xiang nodded and said, "It should be like this."

"A rate cut, or a RRR cut?" Zhou Kan said excitedly.

Xu Xiang responded: "I can't say for sure, but whether it is a rate cut or a RRR cut, it can release some capital liquidity on a large scale, and when the capital liquidity in the market becomes abundant again, then for the stock market, The logic of the so-called shortage of funds and the obvious lack of active funds in the market does not hold water."

"Coupled with the direct financial stimulus of interest rate cuts and RRR cuts."

"And under the national 'big infrastructure' strategy, the market gradually gathers strong investment expectations in the direction of 'infrastructure', 'military industry' and other main boards."

"There is also the main line of 'technological growth', which is no longer enough to accumulate funds and distract market attention and funds in disguise."

"A variety of factors affect each other and interact with each other."

"In the field of blue-chip weight on the main board, investment expectations are getting deeper and deeper, and it is entirely possible to induce a wave of revaluation of the market."

"And as long as the main board's blue-chip weight field, the logic of value revaluation is established, and it is expected to be recognized by everyone."

"Then, if the Shanghai Index breaks through the 2500-point suppression, basically there will be no huge pressure."

"As for the stock index breaking through 2500 points..."

Xu Xiang smiled slightly, paused for a moment, and then continued: "Then continue to move forward, and there will be an open world without obstacles. At that time, the market's investment confidence will recover quickly, and the overall investment expectations of the market will also increase. Get stronger, get higher."

"And accompanied by the continued rise of the index."

"When the money-making effect of the market expands step by step, the potential investor groups outside the market will not be able to resist the temptation, and thus accelerate their entry."

"Even, those large amounts of active funds locked in the emerging 'Internet Finance' industry."

"Under the influence of the ultimate money-making effect, and under the guidance of higher interests, it will gradually flow out of the original industry and enter the stock market."

"That is, as long as the two fires of 'infrastructure' and 'military industry' are burning enough to really open up the market space and the effect of making money, so that market expectations will be further concentrated in the main board area, then...we have all been looking forward to and talking about it for a long time. A 'bull market' could really be here."

Zhou Kan heard Xu Xiang's majestic market analysis, his heart became more and more excited, he laughed and said: "The boss's ideas are still grand, I never dare to think directly in the direction of the 'bull market', but according to the boss's Analyzing, carefully deliberating, it is really possible.”

"Boldly guess, carefully verify." Xu Xiang said with a smile.

Zhou Kan nodded, and responded: "That's true, but according to your guess, Boss, we may have to make some changes to the position structure of our fund."

"En!" Xu Xiang nodded in response, "We have to slowly clear the chips on the line of 'technological growth', although we are running out of chips on this line now, but since we know In this main line field, there is no market in the short to medium term, so there is no need to reserve some bargaining chips and waste funds here.”

Zhou Kan smiled and said, "I think so too."

After finishing speaking, he began to direct a group of traders in the trading room to further reduce and liquidate the chips held in the fund account in the main line of "Technology Growth".

"Oh, that's right..." Zhou Kan just finished giving the order, and then said, "What do you think of the two concepts of 'Internet Finance' and 'E-commerce'? According to today's market trends, these two concepts The sector feels that the expectations are not met, and the capital hype and attack strength are still relatively strong. Our fund has some chips in these two areas. I am thinking, should we reduce it at this time, or not?"

Xu Xiang glanced at the trend of these two concept sectors with squinted eyes, and said: "From the perspective of market performance, the expectations of these two concept sectors are indeed not fulfilled, and the strength of capital hype and market emotional reaction are not bad. There are some obvious differences from the trend of other concept sectors in the main line of 'technological growth'."

"I heard what the boss means, are you optimistic?" Zhou Kan said, "Then I will let everyone wait to reduce their positions."

Xu Xiang shook her head lightly, and said: "Don't get me wrong, I don't mean to be optimistic. It is true that the current trend of these two concept sectors is not bad, and there are still expectations for the future, but these two concept sectors, big hype Logically, it still follows the line of 'technological growth'."

"That is to say, when the expected logic of the main line of 'technological growth' is replaced by heavyweight stocks such as 'LeTV', 'Huayi Brothers', 'Netspeed Technology', as well as 'film and television media' and 'domestic software' , 'smartphone industry chain' and other important concept sectors will definitely restrict the expectations and sentiments of the two concept sectors of 'Internet Finance' and 'E-Commerce'."

"in other words……"

"The strong sector in the weak main line, even if it is strong, it will not be much stronger."

"When the logic of the entire main line of 'Technology Growth' continues to collapse and future expectations are gradually decreasing, active capital groups in the entire market are gradually moving away from individual stocks in the main line of 'Technology Growth', even if the 'Internet The two concept sectors of finance and e-commerce still have certain expectations on the future timeline, so it is difficult to get rid of the logic of the big expectations of the whole "technological growth" and get out of the independent market."

"Instead of sticking to the strong sector in the weak main line, it is better to move the funds to the strong main line that the market has determined, follow the direction where the market's active capital groups gather and chase, and follow the strongest trend."

"According to my judgment..."

"Even if the two concept sectors of 'Internet Finance' and 'E-Commerce' are supported by certain future expectations and do not follow the other main line concept sectors of 'Technology Growth', the corresponding market liquidity will definitely increase. It is getting tighter and tighter, unable to get out of the independent market, at most it would be good to maintain a strong sideways market.”

"In short, since we have come to the financial trading market, the most fundamental purpose is to make money."

"And if you want to make money, you can't go against the original trend of the market and do things against the trend and corresponding trading operations."

"Understood!" After hearing Xu Xiang's opinion, Zhou Kan was moved, and immediately ordered all the traders in the trading room to continue reducing their positions in the 'Internet Finance' and 'E-Commerce' sectors.

And following his orders.

When the entire "Zexi Department" sold off the stocks in the main line of "Technology Growth".

In terms of market performance, the market performance of the main line of "technological growth" and the two main lines of "infrastructure" and "military industry" has become more and more differentiated, and the difference in the growth rates of the Shanghai Stock Exchange Index and the Growth Enterprise Market Index has also increased over time. With the expansion of the market, the entire active capital group in the market has further gathered in the fields of "infrastructure" and "military industry" to avoid risks.

Even, when the market trading hours, enter after 11 o'clock in the morning.

There was a scissors gap between the Shanghai Stock Exchange Index and the ChiNext Index, which once widened to 2%.

In this extreme trend change, the selling of the core popular stocks and core component stocks in the main line of "Technology Growth" has not weakened, but has continued to increase. , is getting worse.

Among them, another main institution is also located in Shanghai.

Inside Yinghui Fund Company, the two fund managers of the 'Yinghui No. 1' fund product and the 'Yinghui No. 2' fund product have gloomy faces at the moment, and they keep telling the traders to do nothing and ignore the rapid ups and downs of costs. warehouse.

In particular, Shao Xiaoyun, the fund manager of the 'Yinghui No. 2' fund product, looked at the extreme changes in the market and saw that the three stocks in the fund he was in charge of all fell to the limit, and he couldn't even sell a share. Helpless to bear the sharp drop in the fund's net worth, the inner anger is really about to explode.

Originally, a week ago, his main position was still on the main line of 'big infrastructure'.

As a result, due to the news signals released by the offline investment strategy of Shanghai Metropolis, and the market news from the so-called acquaintance, Mr. E Fund Gao, he couldn't resist the continuous riots in the line of "technological growth". At a relatively high level, The fund's main holdings were all converted into a holding structure centered on 'LeTV, Huayi Brothers, Crystal Optoelectronics, and Netspeed Technology'. The soaring market price of the "big infrastructure" restarted.

"What a..."

Shao Xiaoyun gritted his teeth, but still couldn't help cursing out in the trading room: "What kind of bullshit Mr. Gao is really harmful, making me unable to advance or retreat, and the loss is so heavy."

Seniors in the industry had warned him more than once before to keep him away from so-called inside information.

He didn't take it seriously before, but this time... Finally, he was taught an extremely profound lesson, and the increase in the net value of the fund that he had worked so hard to accumulate for several months was instantly withdrawn.

"Manager Shao, complaining now is useless." Under Shao Xiaoyun's scolding, Liu Changling, the trading team leader, sighed softly, and said, "We can only find a way to adjust and change the trading strategy to prevent the already The losses incurred will be further expanded.”

Shao Xiaoyun gritted his teeth, forcibly suppressed the anger in his heart, and said, "I also know it won't help, so tell me... what else can we do now?"

Liu Changling thought for a while, and responded: "Let's clear all the 'Technology Growth' holding chips that can be reduced. At this moment, all the concept hotspots related to 'Technology Growth', as well as the corresponding theme sections, have all been lost. In the midst of panic selling, and after the weak rebound in the early trading, the bottom-hunting funds in the market have also been buried. This means that there will be no large-scale active fund groups in the follow-up today. We rushed into the main line of 'technological growth' and carried out corresponding undertakings."

"And this also means that the line of 'technological growth' is a hot topic of various themes and concepts."

"The follow-up trend will only become more and more tragic under the ebb and flow of undertaking funds getting weaker and selling more and more. We can't wait any longer, and we can't think about anything at this time. Due to the cost of lightening up positions, more opportunities to lighten up positions, liquidate positions and stop losses have been missed.”

"Originally, if we were decisive..."

"Before Crystal Optoelectronics and Huayi Brothers did not have a lower limit, we were able to reduce a lot of positions on a large scale, but it is too late now, and we can only take the initiative to sell down regardless of everything, and reduce other "technical growth" that has not yet reached a lower limit. Conceptual stocks, in order to seek less loss of net worth."

"Also, after funding exits the 'tech growth' line."

"We must resolutely add our positions back to the 'infrastructure' and 'military industry' fields that have formed a rising trend and are expected by consensus, and we must not miss more market opportunities."

Shao Xiaoyun listened to Liu Changling's analysis and strategic advice, although he did not object, he still hesitated and said, "I have no objection to clearing the chips in the line of 'Technology Growth', but at this time, the funds returned from the liquidation will be pursued at a higher level. Is the core bargaining chip in the main line of 'infrastructure' and 'military industry' a bit too radical?"

After being repeatedly slapped in the face by the market, he now has some lingering fears about chasing higher prices.

(End of this chapter)