The investment era of rebirth

"Hey, such a good external market trend has not stimulated the domestic market at all. I am really convinced!"

After seeing the fixed opening situation of the two cities, during the short suspension time between 9:25 and 9:30, a group of retail investors who gathered in the discussion area of ​​the trading platform sighed that they were not as expected.

"It seems that the impact of yesterday's market trend is still very large. The main line fields such as 'infrastructure' and 'military industry' have been hyped up in the early stage, and the main funds have ebbed sharply, and they have continued to rise sharply in the past few days, but they have not been able to form a substantial The main lines of 'technological growth', 'big consumption', and 'color cycle' that have broken through the trend have indeed entered a short-term correction trend again, and it is difficult to continue to open up room for growth."

"Based on the market form at the opening, only the main line of 'big finance' can still be seen."

"Sure enough, it is still 'the strong will always be strong'. The line of 'big finance' is really ridiculously strong, especially the core stocks in the securities sector and the Internet finance sector. They really refuse to adjust at all. They are either reaching new highs or are already at the top." It is on the way to a new high, and I don’t know why the main funds are so keen on following the trend of these two major sectors.”

"Isn't the logic different? The logic of the main line of 'Big Finance' is the logical expectation of a 'bull market'. Now... everyone has basically agreed that this is a bull market. 'Big Finance' is the pioneer sector of the bull market, and its early valuations are very low. It’s extremely low, and there is already a need to make up for the increase, so how can it not be stronger?”

"In terms of expectations, the expectations of the main lines of 'technological growth', 'infrastructure', and 'military industry' are not weak!"

"The future expectations of the two main lines of 'infrastructure' and 'military industry' are indeed still very strong, but their current valuation level and the height of the stock price are already more than 40% higher than that of 'big finance'." In addition, these two main lines have risen too much in the past few months. Even if the expectations are strong, drastic adjustments are bound to be made. Only by readjusting the internal bargaining chip structure and re-gathering main funds and popularity can we finally get out of the market.

As for the line of 'technological growth'.

I think many major funds in the current market still have some doubts about the logic of this core line, right?
After all, the core stocks within this main line, even if the stock price has been adjusted for more than half a year, the valuations are actually not low. For core stocks, such as 'LeTV, Netspeed Technology, Huayi Brothers' and other tickets, the dynamic PE is still still low. More than 100 times, such a valuation, even if the performance growth rate is very high, when the core investment focus of the market is focused on the main line of "big finance", when the direction of the main capital attack in the market is divided.

It is still difficult to have a large upside expectation and a sustained market performance expectation!
Unless the follow-up, such as the current third quarter and the fourth quarter, the performance growth rate of the corresponding core stocks can exceed expectations, then the investment logic of the "technological growth" line, as well as the logic of future expectations, will be judged by outsiders and outsiders. The main funds of all parties are re-evaluated, which leads to the revision of expected logic and valuation.

Therefore, according to the expected logic and valuation level, I think there is no suitable investment opportunity for the line of "technological growth".

The current line of 'technological growth' feels more.

Or due to the growth of market liquidity and the continuous adjustment in the early stage, the oversold rebound logic follows the logic of rebound rather than the logic of reversal. "

"It should not be that the line of 'technological growth', from the K-line technical analysis, is not as good as the main line of 'big finance', especially the trend of the securities sector, the Internet finance sector, and the obvious trend of reversal, but it is also There are signs of a reversal."

"Isn't the 'Internet Finance' sector also a sub-line of the main theme of 'Technology Growth'?"

"It can't be calculated like this. The market trend of the 'Internet Finance' sector is more... still following the core logic of 'Big Finance', and the market trend of the main line of 'Technology Growth' is not strongly related. The two Or... still can't be generalized."

"I think that the performance turning point does not equal the stock price turning point. There are definitely investment opportunities in the main line of 'technological growth'."

"To be precise, the performance turning point lags behind the stock price turning point."

"At least after Mr. Jia comes back, the market outlook for the 'LeTV' check won't be worse than before, right?"

"It won't be worse than before, but LeTV's continuous surge and rebound for many days will also close this expected gap? If the stock price of this check wants to rise in the future, it still has to be based on its A reversal of fundamentals is coming.”

"Well... Generally speaking, there are still many uncertainties in the line of 'technological growth'."

"Looking horizontally and vertically, there should be no other main line of the market that has a clearer and stronger investment logic than the line of 'big finance'."

"So make a market, follow the trend, or chase the stocks of the main line of 'big finance'?"

"To be precise, it is chasing core stocks in the securities sector and the Internet finance sector."

"But the location is really not low!"

"In this world, good things are not cheap. After all, everyone has sharp eyes. The opportunities you can see can also be seen by others. The main line of 'big finance' is so strong and sustainable. I On the contrary, I feel that pursuing stocks on the 'big financial' line is far safer than pursuing stocks on other main lines."

"From the logic that the strong always become stronger, this is indeed the truth."

"A bull market has to be strong. Chasing core stocks in the securities sector and the Internet finance sector is no problem at all."

"Moreover, it is foreseeable that in the second half of this year, especially in the third and fourth quarters, the performance of securities stocks and many core stocks in the Internet finance sector will definitely skyrocket, right? So these two popular sectors, in fact, go It’s not just emotional hype, but also the core logic of real changes in fundamentals and changes in performance expectations.”

"This is natural. Otherwise, would the main financial groups be so crazy and continue to rush for high funds regardless of cost?"

"Continue to follow yesterday's data disclosure of the Dragon and Tiger List, and the main funds of the institutions have increased their positions and rushed to raise funds on a large scale. I feel that this direction is the safest direction for the market."

"Isn't there a saying that the more divergent the market conditions are, the more funds will be concentrated in the core line?"

"In fact, through the historical performance of the market, this is indeed the case."

"Then what else is there to say? Just keep chasing the core stocks of the securities and Internet finance sectors. As long as these core stocks have not shown obvious signs of peaking, the main funds in their internal positions have not yet been sold in a large scale. If it is out, then you can continue to follow the trend to make orders.”

"Yes, what's more, the entire securities sector, the Internet financial sector, and Mr. Su's 'Yu Hang Department' are currently supported by the main funds."

"However, we still have to prevent the main line of 'big finance' from following in the footsteps of the main lines of 'infrastructure' and 'military industry'!"

"The main line of 'infrastructure' and 'military industry' has been rising for a quarter in a row. Oh, no, it should be said that the main line of 'big infrastructure' has been soaring since the beginning of April in the first half of the year. If the market development of the main line of finance is compared with the market development of these two main lines, it is obvious that the market of the main line of "big finance" is only just beginning at present, and there is still a lot of room for subsequent market development."

"Yes, there is no requirement for the market development of the main line of 'big finance' to reach the market height and duration of the development of the main line of 'big infrastructure' and 'military industry' before. There is room for at least doubling the index, right? Now it has risen the most The ferocious securities sector and Internet finance sector index, after more than a week of rapid growth, has only just risen from the bottom to about 30% of the space, and it is still too early to double."

"Since ancient times, people who are afraid of heights have suffered. The more they dare not chase, the more they go up, and the more they feel cheap, the more they fall. Eliminate the weak and keep the strong, and concentrate on holding leading stocks. This is the true meaning of stock trading. No matter what you think about it, The current market trend, the line of 'big finance', I am going to continue chasing positions after the opening of the market."

"I will continue to follow the position..." "I have long wanted to buy the two stocks of 'Western Securities' and 'Straight Flush'. The previous positions were not vacated. Yesterday I finally cut off the weaker stocks that I had previously held deeply. Today Definitely follow up."

"President Su's 'Yuhang Department' funds have only entered the main line of 'Big Finance' not long ago, and I continue to pursue positions. I don't believe that in this position, it can kill me?"

Amidst the heated discussions among the crowd...

The short 5-minute suspension time is fleeting.

When everyone turned their attention to the stocks they were concerned about and the core indexes of the two cities, the time had moved to 9:30, and the two cities ushered in the official continuous auction trading session.

I saw that the disks of the two markets had just begun to jump rapidly.

The securities sector and the Internet financial sector, which have attracted much attention and focused the attention of countless investors, continue to open significantly higher, rapidly increase volume, and make rapid progress.

Among them, there are many popular core stocks within the two major sectors.

On the market of 'Western Securities', there were large orders of more than 1000 lots. Within one minute, its share price suddenly rose to more than 1%; and 'Flush', a core concept leading stock, its share price was even more Within 3 minute, the explosive volume reached the 1% increase mark, showing signs of continuing to hit the daily limit.

at the same time.

The two main lines are 'infrastructure' and 'military industry'.

As well as a group of industry sectors and concept sectors that oscillated around the core concepts and themes such as "Asia-Europe Economic Belt", "New Era Road, Maritime Silk Road", and "Reform and Restructuring of Central Enterprises and State-owned Enterprises", they fell rapidly and deposited in the internal market. The main force, continue to focus on selling.

Among them, they are also the core concept leading stocks that have attracted a lot of attention in the two cities.

The check of 'Blue Stone Heavy Equipment', which once created a maximum of 25 consecutive boards, even dropped the intraday drop to about 1% in a straight line within 5 minute.

Of course, affected by the 'Blue Stone Reload' check.

Stocks such as 'Fushun Special Steel', 'Aviation Development', 'Hongdu Aviation', 'Shanghai Construction Engineering', 'Beijiang Communications Construction'... also plummeted one after another, and the market decline expanded instantly.

And at the same time.

The main line of "Technology Growth" and branch concepts such as "Internet Software", "Internet Application" and "Smartphone Industry Chain" have also declined one after another, but the core concept of "Film and Television Media" has maintained its position at this moment. The flat and volatile situation, whether it is "LeTV, Huayi Brothers, Enlight Media, Huace Film and Television, Yanjing Culture..." and other stocks, despite the intense trading, the strength of long and short positions can still maintain a balance.

As for the main line fields such as 'big consumption', 'color cycle', 'pharmaceutical business', 'petrochemical industry'...

At this moment, although there is a downward adjustment trend, the quantity and energy have not expanded, but there are signs of shrinkage.

At 9:32, there is only 2 minute to open.

The 'flush' check, after a short period of consolidation, was suddenly pushed up to the daily limit by successive large orders of [-] lots.

And with the 'flush' the stock rushed towards the daily limit.

The stocks of 'Hengsheng Electronics, Dongfang Fortune, Jinzheng Stock, Yinjie Technology, Shanghai Steel Union, Changliang Technology...', which are also in the Internet financial sector, also followed suit.

And the securities sector, banking and insurance sectors are all core component stocks.

The synchronization was also affected, and they all followed suit.

At 9:33, only 3 minutes after the market opened, the daily limit was sealed by a straight flush. In ten seconds, the closed orders reached more than 20 lots, and the trading volume was strong, and there were obvious signs of shrinking.

With the 'straight flush' this check sealed the daily limit.

The entire "big finance" mainline field, whether it is the Internet finance sector, or the securities, banking, and insurance sectors.

The frequency of changes in the corresponding constituent stocks is even more frequent.

Among them, the stock price of 'Western Securities' rose in a straight line, further expanding the increase in the market to more than 5%, refreshing yesterday's intraday high and a new annual high, launching a charge to a new historical high.

At 9:35, when the main line of "Big Finance" was crazily further siphoning active capital groups and main capital groups in the market, the core concept leading stock "Blue Stone Heavy Equipment" was further adjusted downwards, and the stock price fell from 5 Near the drop of [-]%, it jumped towards the limit position.

At the same time, there are two core main lines of 'infrastructure' and 'military industry'.

As well as the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises', a number of conceptual themes have also been greatly affected, and the stock prices of corresponding core component stocks have fallen further.

At 9:40, the Shanghai Stock Exchange Index was violently attacking the main line of "Big Finance". Under the high pressure, it passively rose to an increase of more than 0.5%, while the Shenzhen Stock Exchange Index and the ChiNext Index gradually fell back, and instead fell into the downward trend. into the water.

At this moment, the market prices of the two cities once again showed a clear-cut market pattern.

That is to say, the main line of 'big finance' is still strong and continues to lead the gains of the two cities; the main line of 'technological growth' is behind it and continues to diverge and fluctuate, with extremely intense long and short interweaving; 'big consumption', 'non-ferrous cycle', 'petrochemical industry', The main lines such as 'Pharmaceutical and Commerce' shrank and fluctuated, trading near the flat position; the main lines of 'Infrastructure' and 'Military Industry' continued to show a concentrated selling trend with the main funds continuing to ebb on a large scale, and the corresponding core stocks accelerated their declines, and the weak The form remains the same, and continues to lead the decline in the industry sector and concept sector of the two cities.

Faced with a strong sense of hierarchy, clear strength and weakness of the main line, and a clear market trend pattern.

At 9:45, at this moment, Yanjing, Modu, Shenzhen City, Jinling, Yuhang... and other important core cities in the country, a group of main institutional investors who are still gathering in other non-'big finance' main lines, As well as the large hot money groups, they also began to further follow the trading rules of "remove the weak and keep the strong, and the strong will always be strong", and sold off the weak mainline chips in a large scale, fully focusing on the main line of "big finance", especially the securities sector, Internet finance On the core stocks of the sector, pursue high positions and scramble for funds regardless of cost. (end of this chapter)