The investment era of rebirth

Chapter 577 The Journey of the Bull Market (22)!

"Indeed." Next to Zhou Kan, Xu Xiang, who was also observing the opening of the market call auction, nodded slightly, and said, "The overall profit-making effect of the market is improving, and at the same time, the main theme and emotional expectations are also deepening and developing. Under the circumstances, the market trend should not be much different."

"However, although the main themes and emotional expectations of the market are still gradually fermenting, it should be difficult for the market to continue to break through?" Zhou Kan responded, "I feel that the market is still obviously lacking in terms of capacity. Incremental funding is always under-funded.”

"The change in quantity and energy has to be slowly promoted by emotions and expectations." Xu Xiang said, "This can't be done in a hurry, and it's useless. On the contrary...if the active fund group in the field, or the one that dominates the development of the main line The real main capital group is eager for success here, and if they forcibly lure the market up, it will be detrimental to the subsequent market breakthrough.”

Zhou Kan smiled and said: "I also think so. A forced breakthrough by the Shanghai Stock Exchange Index here will instead induce more profit-making and a large number of deposited chips to sell and flee, which will lead to the loosening of the chip structure in the main line of the market again. In chaos."

"Just wait for the market to change." Xu Xiang said, "At this time, it is better to be still than to move."

He believes that the market will not adjust very deeply when it is here.

Secondly, in the stage of market adjustment, the high-probability conversion of hot spots and the rotation of profit-making effects will still be derived and spread around the two main lines of "infrastructure" and "military industry", and the fundamental investment logic will not change.

In this way, when the core holding chips of the company's main fund products are already on the two main lines of 'infrastructure' and 'military industry', there is no need to move positions.

"Okay!" Zhou Kan responded.

Immediately, turn your attention back to the two markets that are trading in call auctions.

I saw that after the market time slipped to 9:17, the market trend pattern began to move further towards the main concept themes of the "Asia-Europe Economic Belt", "Reform and Reorganization of Central Enterprises and State-owned Enterprises", "New Era Road, and Maritime Silk Road" Closer, and driven by the one-word daily limit of "Yinkou Port" which slightly exceeded expectations, the index increase of the "port and shipping" industry sector also continued to move upward over time.

At 9:18, the sector index of the 'port and shipping' industry rose by more than 1%.

At the same time, the sector indexes of 'machinery and equipment', 'public transportation' and 'non-public transportation' all opened higher by more than 0.5% while the 'port and shipping' sector index rose. At the same time, ' The core concept sectors and core industry sectors of the two main lines of "infrastructure" and "military industry" still maintain a flat and oscillating mode.

As for the main line of 'technological growth'.

Due to the expected change in the opening of "LeTV", the "Film and Television Media" sector climbed rapidly from the position of the industry sector that led the decline in the two cities.

At 9:19, the last minute of the initial call for bidding.

The price limit of 'LeTV' was opened, and the call auction trend of the stock price continued to rise.

At the same time, conceptual sectors such as 'film and television media', 'domestic software', 'mobile games', and 'smartphone industry chain' also rebounded synchronously. Above all, the bottom-hunting trend of funds is quite obvious.

Subsequently, under a large number of false pending orders and continuous withdrawal of orders.

The market trading time entered 9:20, and the two cities entered the real call auction link of irrevocable orders.

I saw that the trend of popular industry sectors such as 'port and shipping', 'machinery equipment', and 'public transportation' became stronger; at the same time, the main line of 'technology growth', which was severely slumped by the market in the past two trading days, 'film and television' The sectors of Media, Domestic Software, and Smartphone Industry Chain also showed a strong trend of bottoming out.

As for the core industry sectors and conceptual sectors in the fields of 'military industry' and 'infrastructure'.

However, it continued to maintain a trend of sideways volatility, and the performance of corresponding popular stocks and core weight stocks in the call auction stage has shrunk.

"Hey, the check for 'LeTV' is finally out."

Seeing the performance of the market after it entered the real call auction session, at 9:21, in the Shenzhen Stock Exchange, inside the 'Pingyin Asset Management', the main fund trading room, the fund manager Chen Shen finally breathed a sigh of relief, turned his head and reported to Liu Ziliang: "Mr. Liu, the market liquidity of 'LeTV' has recovered. Are we... at this time to concentrate on liquidation?"

"What's your opinion?" Liu Ziliang looked at Chen Shen with a smile and asked.

Chen Shen thought for a while and said: "My opinion is to concentrate on selling, and then quickly adjust positions to the core main line of the market to correct our previous wrong trading strategy. After days of extreme sharp falls, a large amount of bottom-hunting funds have already ushered in at this moment.”

"At the same time, the 'LeTV' check, after two consecutive limit-downs, has also fully released certain negative expectations."

"However, in general, the investment logic and future expectations of the entire 'technological growth' main line are completely loose. Although there is a short-term rebound, there is a high probability that it will continue to adjust after the rebound."

"Moreover, today's 'technological growth' line is able to usher in large-scale fund hunting again."

"First, it is because the entire main line of 'technological growth' is obviously oversold in the short-term trend; second, it is because of the core industry sectors, concept sectors, and many The core weight stocks are just in the midst of short-term adjustments, causing short-term speculation funds to choose other hot spots to attack.”

"However, overall..."

"Whether it is the core industry sectors and conceptual sectors of 'military industry' and 'infrastructure' that are undergoing sideways adjustment, or the sectors such as 'port shipping', 'machinery equipment', and 'transportation' newly launched yesterday, as well as 'Asia' The main concepts such as the European Economic Belt, the New Era Road, the Maritime Silk Road, and the reform and reorganization of state-owned enterprises, the spread of hot spots in the entire market and the final hype logic still revolve around the two major concepts of "military industry" and "infrastructure". The basic investment logic of the main line is unfolding, which shows that in terms of market evolution, the core development direction of the market is still the two main lines of 'military industry' and 'infrastructure', while the line of 'technological growth'... still has no reversal Logic and reverse hope are in there."

"In this way, we are holding the main line of 'technological growth' chips, and the position is still relatively heavy."

"Considering the liquidity of the disk when it comes out."

"Then you can't hesitate to think about the short-term rebound of the line of 'technological growth' to reduce the loss when you exit the market, so as to miss the best time to stop the loss."

Hearing Chen Shen's analysis, Liu Ziliang pondered for a moment, nodded, and responded: "That being the case, then don't hesitate, as long as the mainline stocks of 'technological growth' we hold have sufficient liquidity on the market, there will be How many chips are sold, and how many chips are sold."

"As for the conversion strategy, in this position, quickly increase the position and undertake the core constituent stocks in the fields of 'infrastructure' and 'military industry'..."

Liu Ziliang hesitated, paused, turned his gaze to the two trading team leaders, and asked, "Gao Yixiang, Wang Jinglun, what do you think?"

Seeing Liu Ziliang's question, Gao Yixiang quickly turned his eyes away from the market of the two markets, and responded: "I think Manager Chen's suggestion is reasonable. The current market, whether it is from expectations, emotions, or macro policy trends Look, 'infrastructure' and 'military industry' are the main core directions of investment, and these two main lines, no matter in terms of expectations or technical trends, have not been fulfilled. There is a high probability that they will continue to rise in the future. We adjust positions and intervene at this time, in fact, the risk is not very great.”

"but……"

Speaking of this, Gao Yixiang thought for a while, and then said: "I think if we want to fully adjust our positions to the two main lines of 'infrastructure' and 'military industry', the specific target stocks can actually be combined with the market just released The hype sentiment and the expected "Asia-Europe Economic Belt", "New Era Road, Maritime Silk Road" and "Reform and Restructuring of Central Enterprises and State-owned Enterprises" are considered based on the main themes of several major concepts."

"I feel that the main concepts and themes in the market will fall, and there is a high probability that they will be these major aspects."

"At the same time, the recent market policy trends have been blowing in this direction."

"There is also the current core stocks in these aspects. In fact, due to the continuous downturn in the past few years and the abandonment of the investment logic of the blue-chip heavyweight stocks in the entire market, the current major institutions do not hold many positions in these stocks. The overall level of institutional positions is also low."

"Generally speaking, taking advantage of the two main lines of 'infrastructure' and 'military industry', we encounter short-term profit-making selling pressure and index point pressure. For us, it should be a good strategic adjustment and adjustment. The timing of stock exchange."

"Well, it makes sense." Liu Ziliang nodded slightly, then turned his gaze to Wang Jinglun.

Wang Jinglun thought for a while, and said: "I think what Manager Chen and Team Leader Gao said is quite reasonable. Looking at the current node, we have to be more decisive, but I think the target stocks for the adjustment should be placed at a certain point." It’s better to be more precise, the main lines of several core concepts and themes developed by the current market.”

"'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road' are the two main concepts and themes."

"The fundamental logical expectation is to improve the entire 'infrastructure' industry and the growth of external demand. At present...the expected logic has a certain space, but the expected fulfillment is actually relatively slow and has considerable uncertainty. That is, the expected strength is very limited."

"On the other hand, the main theme of the concept of 'the reform and reorganization of central enterprises and state-owned enterprises'."

"As long as the corresponding stocks have the expectation of reform and restructuring in this regard, then the fulfillment of this expectation will be extremely strong and fast."

"Just look at the hotly hyped 'Chengfei Technology' in the current market."

"So, my suggestion is... In terms of the goal of rebalancing, we should first choose stocks in the two main areas of 'infrastructure' and 'military industry' that have the expectation of 'reform and reorganization'."

"In the so-called current market, there are a lot of blue-chip stocks in traditional industries. Although they have taken the express train of macroeconomic policies and policies of the 'Asia-Europe Economic Belt', 'New Era Road, and the Maritime Silk Road', they have expected room for growth in external demand. Domestic demand growth in the entire traditional industry is limited, and the inflection point of industry recovery has not yet been seen, it is difficult to support the continuous breakthrough of the stock price based on the investment logic of the expectation of external demand growth alone.”

"Only by plugging in the wings of 'reform and reorganization' that can seriously catalyze the company's fundamentals and growth expectations."

"That's the only way to make the stock price soar and get out of the magnificent upward trend."

"This investment logic analysis is not bad." After listening to Wang Jinglun's analysis, Liu Ziliang showed obvious appreciation in his eyes, and said with a smile, "Okay, since everyone has the same idea, then follow what Manager Chen said, With the maximum and fastest time, we will comprehensively liquidate the chips of the main line of "technological growth", correct the previous trading strategy, and after quickly liquidating and stopping losses, and withdrawing funds, we will change our thinking and quickly deploy those that are still at a low level and have "infrastructure" ', 'military industry' basic investment logic, and at the same time have the core target stocks expected by the 'reform and reorganization of state-owned enterprises'."

Seeing that Liu Ziliang was able to admit his previous mistakes in trading strategies, and was able to absorb everyone's opinions, change the overall direction of the fund layout, and embrace the core main line of the market again.

In the trading room, Chen Shen, Gao Yixiang, and Wang Jinglun all admired it in their hearts.

After that, immediately following...

Under Liu Ziliang's signal, Chen Shen turned his gaze, and immediately began to instruct all the traders in the trading room to quickly place orders, implement them according to the latest trading strategy, and adjust the fund's main position structure.

And with the change of trading strategy of the main institution of 'Pingyin Asset Management'.

On the market, the main line of "technological growth" has not yet ushered in the official opening at 9:30. In the last 3 minutes of call auction time, many core concept stocks have emerged on the disk. The main selling and selling orders continued to suppress the rising stock price.

Among them, "LeTV" has accumulated 3.2 contracts through call auctions, and its stock price has rebounded from the limit all the way to a 6.8% drop. In "Pingyin Asset Management", an institution that holds a large amount of "LeTV" stock chips In the case of decisive selling, at 9:24, the stock price fell back to near the limit, and on the disk, the matching transaction broke through to the level of 5.3 lots in one fell swoop.

Finally, when 9:25 came, the call auction of the two cities ended.

I saw that the Shanghai Stock Exchange Index, Shenzhen Index, and ChiNext Index all opened near the flat market.

However, although several major indexes in the market only opened flat, and the performance was calm, but in terms of the specific performance of the two markets, there was an obvious undercurrent.

(End of this chapter)