The investment era of rebirth

In the early stages of a bull market, the market always moves forward with determination and hesitation, and continues to fluctuate.

Su Yu knows that any change or interpretation of the market cannot be achieved overnight, and the changes in the index cannot be linear. Regardless of the bull market or the bear market, there will be rises and falls, and often in the bull market, the rapid correction will catch people off guard. The sharp drop in the market, but accounted for the majority.

The extreme bullish emotional climax cannot last for too long.

When the market news is calm, and the stock prices of the core stocks of the main lines in the market have reached a high level in the previous climax of bullish sentiment, then the differentiation of the market trend is inevitable.

In fact, there is nothing terrible about the divergence of market trends.

As long as the basic investment logic of the stocks you hold has not changed and future expectations are still increasing, you should hold them firmly and wait for the flowers to bloom.

"The subsequent market trend should slow down significantly." While Su Yu was deep in thought, Li Meng stared at the market for a while and said, "At the same time, the active capital groups in the market should also further move towards the big market." The convergence of the main line of finance makes the trend of the market more and more layered.”

"Under the situation that the profit-making selling pressure and the historical hold-up selling pressure accumulated in the previous period are getting bigger and stronger, the chip structure of each main line of the market should need to be adjusted again and again." Zhang Guobing thought for a while, He also continued, "In the future, the market will, with a high probability, still revolve around the main line of 'big finance', replicating the volatile upward trend in the quarter from June to September."

"The main reason is the current market. In addition to the core line of 'big finance', other main line areas, the underlying investment logic and future expectations are obviously far behind, and cannot form a sustainable development like the main line of 'big finance'." A strong breakthrough in the market trend." Zhu Tianyang said, "There are also too many upper-level hold-up orders that have been accumulated in the previous period. Even if the market's 'bull market expectations' are increasing, we still need to continue to digest this part of the hold-up orders. Only when the overall chip structure of the market is completely transformed can a sustained and strong breakthrough be achieved."

"Well, the Shanghai Index has not touched the range of 3000 to 3500 points in the past few years. The hold-up market is indeed extremely heavy." Liu Yuan nodded and responded, "The index is within this range, and the market is long and short. It’s normal for the power to be divided.”

"Whatever, as long as there are no problems with the investment logic of the core main line of 'big finance', then it's over, right?" Wang Can chuckled, "The current market turnover is generally at the 6000 billion mark. The market's balance of financing and financing is approaching trillions, and at the same time, the 'bull market expectations' are also increasing. In any case... the performance of the market in the two months at the end of the year will not be worse than before."

"That's true." Zhao Lijun said, "With the support of such strong volume, the market will not be bad at all. And it can be seen from the market. Although there are many long and short differences on the market of many stocks, the selling force continues. Strengthening, but the strength of the bulls taking over, the capital groups taking the initiative, and the incremental capital groups newly entering the market are also continuing to strengthen and increase."

"The difference between long and short is actually a driving force for the upward development of the market." Zhang Guobing thought for a while and then said, "The birth and continuation of market conditions are originally based on the constant suspicion and affirmation of funds. The real Consistency of expectations does not last long.”

When Su Yu heard Zhang Guobing's words, he nodded slightly, appreciatively, and said with a smile: "The market situation is always born in times of despair, always moves in doubts, always accelerates when emotions are consistent, and always speeds up when emotions are consistent. The peak ends at a time of madness. The current market is divided between long and short, and the index fluctuates and rises amid doubts. There are many sellers and many buyers... This just illustrates the performance stage of the current market conditions. It is just in the early stage of the bull market. It is far away. It’s not time to worry yet.”

Everyone's discussion room...

The market trading time has passed 11 o'clock in the morning unknowingly.

When the two cities entered the last half-hour trading period before the midday closing, the market patterns of the two cities became more and more layered.

First of all, the securities sector, the Internet finance sector, and the indices of the two core popular sectors are still slowly raising their center of gravity and setting new intraday highs in the continuous turmoil. At the same time, the core constituent stocks, For concept stocks, the strength of the bulls to undertake is also significantly stronger than the power of the short sellers.

Then, the core sector in the main line of 'Technology Growth', the 'Film and Television Media' sector, can still maintain a relatively strong state and fluctuate at the intraday high. Although the sector index can no longer continue to rise and open new intraday heights, the sector The constituent stocks in the field, and many concept stocks, are still continuing to perform, with rising trends one after another.

Finally, the remaining non-core mainline areas.

During this period of time, it has continued to fluctuate and gradually declined and corrected.

Among them, the main lines of "infrastructure" and "military industry" are more weak than other core market lines, significantly underperforming the market index, and related major industry sector indexes have also pulled back one after another and fell into the water, especially In its field, the concept leading stock in the two cities with a high degree of market attention, the check of 'Blue Stone Reloading' has fallen into a 3-point decline position after it failed to open up room for continuous rise at the beginning of the session.

As for the index...

The Shanghai Index is still oscillating around today’s opening point and rising position; the Shenzhen Index and ChiNext Index have fluctuated and fallen, and have returned to near the flat position; the small and medium-sized board index has fallen into the water slightly during the same shock and fall , without any strong momentum; the A50 index followed the trend of the securities sector, the insurance sector, and the banking sector, gradually fluctuated and rose, and continued to set new intraday highs. 1% range.

"The market is divided, and the market volume is strong. At this time, compared with yesterday, there is no sign of continued expansion."

Noticing that the performance of each main line of the market is becoming more and more layered, and whether it is the performance of individual stocks or the index, they have shown a clear trend of differentiation. At this moment, Su Yu is in the Yuhang main hot money group, discussing the market Among the big hot money investors, some people sighed.

"After the index breaks through the key mark of 3000 points, the fanatical market's concentrated long-term sentiment must not be maintained forever. The index and the main line of the market will gradually diverge, which is the norm. Too worried."

"Yes, let's not talk about this index point stage. The market is already heavily locked up. Just say that the market has surged for so many days and the short-term profit-making sell-off will inevitably lead to market differentiation."

"Hey, at this position, I can differentiate and digest a wave of chips and consolidate the overall chip structure of the index near 3000 points. I don't think there is anything wrong with it. As long as the index remains above 3000 points and continues to fluctuate, it can still Gradually creating new point heights upwards, then the market's 'bull market' pattern will not change, and there is nothing to worry about. Just continue to make orders around the core main line."

"It feels like it's back to the familiar rhythm of 'infrastructure' and 'military industry' gradually driving the market, and other main lines of differentiation and oscillation, but this time...the core main line driving the market has changed from the previous 'infrastructure' and 'military industry' main lines , has become the main line of 'big finance'."

"Well, that's true..."

"Although the overall market is a bit divided, the main line of 'big finance', whether it is the strong securities and Internet sectors, or the relatively weak banking and insurance sectors, is consistent in long overall, and it is still very strong. There are signs of differentiation. It's not that obvious."

"The performance of the core main line is definitely different from that of the non-core main line."

"Hey, at this time, you can really see that those stocks are the core leaders, and those stocks are false leaders."

"This time is the best time to distinguish between strong stocks and weak stocks."

"Agreed, that's the truth."

"I feel that even if the index enters a state of differentiation and shock, based on the market's still strong carrying power and the market volume that has not expanded but has not declined much, I estimate that the index will probably not easily go back to the 3000 point level. If there is a support line, it is even less likely to cover the gap last week."

"The gap below 3000 points is the most important support for the 'bull market' pattern. This gap obviously cannot be filled. Once it is filled, the overall market structure of the market will change."

"It's impossible to fill that gap, is it?"

"Unless the main line of 'big finance', which has been rising sharply for several days since last week, falls back to its original point, it is impossible for the index to fill the gap below 3000 points. However... the core of the main line of 'big finance' Investment logic, as well as fundamental logic, when the market volume can explode to this point, the balance of financing and financing is about to hit the scale of trillions, and when the central bank will continue to loosen money and implement monetary easing policies with a high probability, if it wants to fall again Basically, it is completely impossible to go back to the starting point, not to mention... In the past week, at least tens of billions of incremental funds have been added to the main line of 'big finance'. These incremental funds have made the entire 'big finance' The chip structure in the main financial field has undergone a complete transformation."

"The main line of 'Big Finance' has fallen back to its original point? Hehe... This is basically a fantasy."

"No, I don't know how many incremental capital groups there are currently. They want to have core chips in the main line of 'big finance'. How can they fall back?"

"In general, with the continuous shock and upside of the 'big finance' line to support the market, it is impossible for the index to go back to 3000 points and cover the gap below 3000 points."

"There is naturally no problem with the core main line of 'big finance', but the two popular main lines of 'infrastructure' and 'military industry' are very likely to continue to correct, which will drag down the index."

"The two major sectors of infrastructure and military industry shouldn't fall too deeply, right?"

"I also think that these two major sectors will not fall deeply. After all, the macroeconomic strategic plan of 'New Era Road, Maritime Silk Road' and the positive news are still increasing, not to mention the 'reform and reorganization of state-owned enterprises and central enterprises'" ' and the concepts of major 'free trade zones' are good blessings, but the current internal chip structure of the two main lines of 'infrastructure' and 'military industry' has been scattered, and they need to be regrouped and regain their popularity. And looking at the market performance... this The intensity of funding in the two main areas has always been strong.”

"The two main lines of infrastructure and military industry have only seen their stock prices rise in the short term. As long as the fundamental expectations remain unchanged and the benefits of the macroeconomic strategic planning of the 'New Era Road and Maritime Silk Road' are still increasing, I think this will The market conditions of the two main sectors will have to take a turn sooner or later.”

"Generally speaking, the Shanghai stock index has broken through the shackles of 3000 points, and the market will never be worse than before."

"The market volume of 6000 billion can be supported. Even if the market trend diverges and the profit-making effect becomes worse than the previous few days, it will not be much worse."

"Continue to rely on the main line of 'big finance' to make money, and you can still make money easily."

"Yes, continue to work in the securities and Internet finance sectors."

"Looking at the check of 'Huaxin Securities', I think that as long as 'Huaxin Securities', a super-weighted stock, can continue to hit intraday highs and hit new highs in stock prices, then we can continue to aggressively make orders. "

"Looking at the situation, the performance of the check of 'Huaxin Securities' today will not be less than 70 billion."

"On the whole, except for a few stocks that have been directly hit by other bad news in the main line of 'big finance', there is no need to worry about other stocks."

"Not only 'Huaxin Securities', but also 'Western Securities' has been at the height of 6 consecutive boards. It has been continuously oscillating around the intraday high today, and there is no chance of entry at a relatively low level for adjustment. Although this check today It is no longer possible to close the market, but the strong performance of the stock price remains unchanged. It is expected that this check will continue to rise sharply in the future and open up new heights."

"However, in the past two trading days, the 'technological growth' line, which once showed a continuous breakthrough trend, is indeed going through some problems today. The major core sectors in its field and the main capital flows are basically showing outflows. And for many core stocks, the active capital strength on the disk is no longer able to suppress selling orders."

"The trend pattern of the line of 'technological growth' is obviously still much worse than that of the line of 'big finance'."

"They are not at the same level. Judging from the overall market situation, the core main financial groups are still targeting the main board, especially the heavyweight stocks in the main direction of 'Big Finance', and the 'Technology Growth' line. It is true that some financial groups are paying attention to the line, but it is not the most core hot spot in the market performance."

"The line of 'technological growth' probably has no real breakthrough, right?"

"Obviously not!"

"I feel that the line of 'technological growth' has to be stepped back and adjusted in the future."

"It is better to pursue the line of 'technological growth' than follow the trend and continue to do the line of 'big finance'."

"In fact, it is easier to make money by following the core main line of Mr. Su's positions and doing the sectors and stocks with the strongest market consensus expectations."

The news in the group was refreshed rapidly, and the big hot money investors expressed their views on the market situation one after another.

At the same time, everyone is leaving the weak and staying strong, further focusing on the main line of the market's "big finance", and further adjusting their positions to pursue leading stocks that can still perform strongly, oscillating step by step and setting new intraday highs.

Market trading hours, up to 11:30.

The two cities ushered in the midday closing time.

I saw that after half a day of fluctuations, the Shanghai Stock Index was still not significantly different from the point when it opened at 9:25 in the morning. However, the Shenzhen Stock Exchange Index, ChiNext Index, and Small and Medium-sized Enterprises Index had fallen back a certain amount compared to when they opened in the morning. The range basically closed at a flat price, or in a slightly downward trend.

Only the A50 index has continued to perform strongly in 'big finance'.

It closed at a gain of 1.05%, still leading all important core indexes in the two cities.

As for the market performance of the main core main lines, the 'Big Finance' main line is unparalleled, especially the securities sector and the Internet financial sector index, both still rose by more than 2%, leading the industry sectors and concept sectors of the two cities. Others, compared The intraday heights hit at the beginning of the session have all fallen back.

Among them, market investors have paid a lot of attention, and the core leading stocks.

'Blue Stone Heavy Equipment' closed down 4.48% in midday trading, with a turnover rate of 33.45% in the half-day, showing a clear view of its weak form; 'Western Securities' surged 6.35%, still fluctuating at intraday highs, with a half-day turnover of 22.87 billion; 'Straight Flush' soared 7.11%, with a half-day turnover rate of 18.43%. The rest of the popular leading stocks of 'Hengsheng Electronics, Jinzheng Stock, Oriental Fortune, Orient Securities, Huatou Capital...' all rose at 4% within a day. It can be said that they have maintained a strong state and continued to significantly outperform the market index.

Such a midday closing situation...

As a result, the extremely hot bullish sentiment among market investors in chasing high prices has declined.

However, there has been no change in the positive entry attitude of the major capital groups outside the market, as well as the positive attitudes of increasing positions and adjusting positions of major core institutional groups on the market. , financial media commentators, well-known stock analysts... the group, during the lunch break, in the resumption of the market speeches, they are still bullish on the market without thinking, singing "bull market" in an all-round way.