The investment era of rebirth

At 1:15, the Shanghai Stock Index fell further, completely engulfing all gains after the afternoon opening.

At 1:16, the popular main lines and popular concept sector indexes in the two cities all fell with the index and no longer hit new highs. At the same time, the time-sharing capacity of the two cities began to gradually shrink, and active buying further decreased.

At 1:17, the Shanghai Index fell back to the 1% intraday increase, the Shenzhen Stock Exchange Index and the ChiNext Index both fell back to within the 1% increase, and the strongest A50 Index has fallen back to within 2%, which is lower than when it opened in the afternoon. At the same time, in the main line of hot concept fields of 'securities, Internet finance, military industry, infrastructure, film and television media, and domestic software', there are some concept stocks on the margins, especially some concepts that only closed their daily limit near midday in the morning. The stock, at this moment, is already showing signs of exploding.

At 1:18, leading concept stocks in major popular mainline areas also began to come under pressure, and the number of selling orders on the market gradually increased.

At 1:19, 'Beixin Road and Bridge' exploded, including the architectural decoration and building materials sectors in the main line of 'infrastructure', as well as the 'Shanghai Free Trade Zone' concept sector that is closely related to 'Beixin Road and Bridge', as well as the 'state-owned enterprises' sector. The state-owned enterprise reform and reorganization sector all followed the trend and fell back.

At 1:20, 'LeTV' fell back to a 8.11% increase from the highest intraday increase of 5%, and the intraday turnover once again exceeded the 30 billion mark.

At 1:21, the 'Film and Television Media' industry sector index, which is strongly related to 'LeTV.com', fell back below the 2% increase in the day. At the same moment, 'Huayi Brothers, Huace Film and Television' exploded, and Ciwen Media , Guangdong Media, All Access Education, etc., the daily limit stocks in the sector have rapidly reduced their daily limit orders.

At 1:22, this obvious selling and selling effect began to spread to the core sectors of 'securities, Internet finance, and military industry'.

At 1:23, the number of red stocks in the two cities fell back to around 1500.

At 1:24, the stock of "Hongdu Aviation" in the "military industry" sector exploded.

At 1:25, 'Fushun Special Steel', the leading concept stock in the two major concept sectors of 'nuclear power' and 'military industry', also fell sharply.

At 1:26, the entire 'National Defense Industry' sector index fell back to about 2.5% during the day.

At 1:27, the two stocks of Hengsheng Electronics and Oriental Fortune in the field of 'Internet finance' fell rapidly, and there were large sell orders of [-] lots on the market.

At 1:28, the 'Oriental Fortune' check saw the market gain drop by nearly 1 points within 2 minute.

At 1:29, on the daily limit board of 'Flush', the daily limit orders fell sharply. In one minute, the number of orders was reduced by almost 1 lots.

At 1:30, 'Western Securities' in the 'Securities' sector fell sharply.

At 1:31, the intraday trading volume of 'Huaxin Securities' once again reached the 75 billion mark. At the same time, the intraday increase has dropped from a maximum of around 4.75% to 3%.

At 1:31, the check of 'Founder Securities' turned green again during the day, showing a downward trend. At the same time, it also continued to underperform the sector index and the broader market index, and continued to lead the decline of the entire securities sector.

At 1:32, "Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo China Railway, China South Locomotive, China North Railway..." and other major "infrastructure" stocks with Chinese prefixes were on the market. On the market, there were heavy selling orders, and as the gains of these stocks fell, the more core stocks such as 'Reform and Reorganization of Central and State-owned Enterprises', 'New Era Road, Maritime Silk Road', and 'Shanghai Free Trade Zone' The main line of conceptual themes has also declined rapidly.

At 1:33, MCC, which had strongly blocked its daily limit in the morning, exploded. On the market, there was intense long and short trading, with a continuous tough confrontation between the main sellers and main buyers with tens of thousands of large orders.

At 1:34, 'Huaguo MCC' closed the daily limit again after adding 3.6 million in new transactions.

And also at this moment.

After nearly 20 minutes of diving, the market began to rebound.

At 1:35, the Shanghai Stock Index returned to the 1% intraday increase mark. At the same time, the time-sharing trading volume of the two cities began to increase again.

At 1:36, the Shenzhen Stock Exchange Index and the ChiNext Index also returned to the 1% increase mark.

At 1:37, a number of popular core sectors such as 'securities, Internet finance, military industry, infrastructure, film and television media' have rebounded one after another, and the corresponding stock prices of core stocks and leading concept stocks have also rebounded. After a large number of concentrated selling has been consumed, The bullish forces began to clearly counterattack on the market.

However, this counterattack trend gradually returned to the corresponding intraday high when the index gradually returned.

Then he lost the motivation to continue his attack.

At around 1:50, with the bullish power once again exhausted, several major core indexes, as well as major popular sector indexes, began to fall back one after another.

At this point, the Shanghai Stock Index began to fluctuate within the range of 1.5% to 1% during the day.

A number of popular stocks in the market have also begun to gradually digest the selling pressure on the market amid index fluctuations, and gradually consolidate the internal chip structure.

"Compared to the morning and afternoon trading sessions, the bulls' offensive has obviously slowed down a lot!"

At about 2 o'clock in the afternoon, in the 'Yinghui No. 1' fund product trading room inside Yinghui Fund Company in Shanghai, Liu Guanhai, the fund manager in charge of this fund product, said with emotion: "I feel that the market is at this position, I'm afraid it will happen again. It will take a violent shock before we can further attack 3400 points."

"It feels like it's not that the bulls' offensive has slowed down, but that the power of short selling has increased, right?" Next to Liu Guanhai, Yu Lei, the leader of the fund trading team, took over and said, "Mr. Liu, please look at the market's trading volume. In the continuous oscillating trend, there is no obvious attenuation. Especially when compared with yesterday's market, it is easier to see that the market's trading volume is still gradually increasing upwards.

This shows that there is actually no change in the newly added long-term funds entering the market.

Even, it is still continuing to strengthen.

Today's index stagnated at the intraday high and fell into a volatile situation that was unable to continue to break upward. This was mainly due to the concentrated selling pressure above the market after the opening of the market in the afternoon. "

Liu Guanhai heard Yu Lei's words, squinted his eyes and carefully looked at the market trends of the two markets, and carefully compared the volume performance of the same time period of yesterday's market, as well as the total transaction performance, and indeed found that what Yu Lei said was right. He couldn't help but ponder for a moment, and said: "It seems that the sudden increase in selling volume can indeed lead to the current situation of the market, but... the huge profits and unwinding of arbitrage accumulated by the market in the short term are not the same as on Monday." Has the market been almost completely cleared during the huge plummet? Why is there still such a strong selling force suppressing this position?"

“The range between 3000 and 3500 points for the Shanghai Composite Index has always been the most serious range for historical hold-up.” Yu Lei took over and continued, “After the market plunged on Monday, the index has been positive for 4 consecutive days. Oh my god, a lot of profit and settlement orders have been newly added.

Furthermore, the index returned to new highs.

Facing next Monday, everyone expects good market news, as well as uncertain market news over the weekend.

For these profit-taking and arbitrage orders, it is very reasonable to carry out profit-taking selling at this time point on Friday, and at this time point before the expected benefits are realized, to cash in the profits and avoid the unpredictable market trend next Monday. .

There is also the shadow of Monday's market crash. Although it has gradually weakened during the comprehensive recovery and rebound of the index, this shadow has not completely faded away from the hearts of the vast number of investors both inside and outside the market. Everyone is still worried that the market will do it again, and it will happen again. Go back to the 3000 point position.

So, the anticipation of 'Black Monday' exists.For many capital groups whose risk appetite is not that high, it is also very reasonable to exit first at this point in time.

In this way, these factors and the funding group work together.

After the market opened this afternoon, the selling force on the market was significantly amplified, which seems very normal. "

Hearing Yu Lei's words, Liu Guanhai nodded slightly and said with a smile: "So, you think the current market trend is completely normal and we don't need to worry?"

Yu Lei nodded and responded: "Of course it's normal. I think as long as the market's turnover and trading volume are strong, and there are a lot of funding groups pouring in outside the market, the market will be in a strong position." In terms of chip acceptance, the attitude is still positive, so...even if the index retreats briefly, it will eventually reach new highs under the continuous support of buying orders, and push the market to a higher space position."

After the market fell sharply on Monday, the Shanghai Stock Exchange Index rebounded rapidly and turned around.

Now, he has been able to treat the occasional market adjustments calmly. Even if the index suddenly drops by several points, he will not panic.

Of course, regarding this confidence and confidence...

The most fundamental source is the 'Yinghui No. 1' fund product they operate. The core chips they currently hold have relatively low costs and can have a greater cost advantage to withstand the retracement caused by market shocks.

"So, do you think we still maintain aggressive positions and just wait and see what happens?" Liu Guanhai pondered for a moment and continued to ask.

Yu Lei thought for a while and responded: "Looking at the market trend in the afternoon, the main financial groups in the market should still be pessimistic about the market trend next Monday, and are worried about the expected good news next Monday. , On-site profit taking and settlement of arbitrage are concentrated through the capital acceptance effect when the benefits are implemented.

In this way, although it is a benign callback in the entire 'bull market' stage.

But we use small positions. In this kind of benign correction, it is also possible to follow the expected performance of the main funds in the market and make orders.

Of course, under the premise that the market's 'bull market' pattern has not changed at all, and the basic investment logic has not wavered at all.

It is best not to move the core and main positions of our fund at all, so as not to gain sesame seeds and lose watermelons in small-band market trading operations. "

"You can do it this way." Liu Guanhai nodded and continued, "If you keep locking the position, traders will gradually lose their sense of intraday trading."

Seeing that Liu Guanhai agreed to his proposal, Yu Lei couldn't help but smile, and quickly turned to the traders and issued corresponding trading instructions.

And with the issuance of his trading instructions.

At this time, the market trading time has entered after 2:30 pm.

In the last half hour of trading, the market has clearly seen an increase in trading volume, and both long and short trading has become more intense.

Of course, as the volume continues to climb, bull trading is intense.

On the contrary, the market amplitudes of several major core indexes in the market, as well as the main lines of popular sectors and core concepts, have shrunk significantly.

Finally, when 3 o'clock in the afternoon came, the two markets officially closed.

The Shanghai Stock Index finally settled at 3359.78, up 1.02%, while the Shenzhen Stock Exchange Index and ChiNext Index rose 0.93% and 0.89% respectively. Among them, the closing increase of the A50 Index was just below the 2% increase mark, still showing The trend led the two cities to rise.

In addition to the performance of major market indexes.

The turnover of the two cities approached 7900 billion, unexpectedly once again setting a new high in turnover.

As for the performance of major popular main lines, major popular sections, and major core concept themes...

The main line of 'Big Finance', headed by the two core sectors of 'Securities and Internet Finance', still led the gains in the two cities, with the Securities Sector Index closing up 2.33% and the Internet Finance Sector Index closing up 2.65%.

Core stocks within its main line area.

'Huazhong Capital' still firmly sealed the daily limit, with an intraday turnover of 32.46 billion; although 'Flush' had heavy volume in the late trading, it also maintained a daily limit closing pattern, with an intraday turnover of nearly 20 billion and a turnover rate of increased by more than 20%; 'Western Securities' soared 5.11%, 'Oriental Fortune' soared 3.75%, 'Hengsheng Electronics' soared 3.12%, 'Great Wisdom, Jinzheng Shares' also sealed their daily limits.

Moreover, the daily trading volume of 'Huaxin Securities' reached 112.33 billion, which also set a new high for this stock's annual trading volume and a new annual high for the entire market's single-stock trading volume.

'Founder Securities' closed down slightly by 0.49%, still leading the decline in the entire securities sector.

Behind the 'Securities and Internet Finance' sector is still the main line of 'Military Industry'.

Although this main line also suffered a sharp decline in the late trading stage, in terms of closing results, the entire 'National Defense and Military Industry' sector still had more than 5 stocks hitting the daily limit, and 10 stocks rose by more than 5% within the day. Among them, several popular stocks, 'Blue Stone Heavy Equipment, China Airlines Heavy Machinery, and Chengfei Integration', all closed at the daily limit.

It ranks behind the performance of the main line of 'military industry'.

They are the two core main lines of 'infrastructure' and 'technological growth'.

The performance of a number of related industry sectors and concept sectors in these two core main areas is somewhat uneven. Among them, the 'high-speed rail, public transportation, special steel, cement, film and television media' sectors performed better and all outperformed. The market index, while the 'building decoration, building materials, smartphone industry chain, domestic software, commercial real estate development' and other sectors are relatively weaker than the market index performance.

As for the non-popular main line areas other than these core main lines.

Main areas such as 'consumption, medicine, non-ferrous metals, coal, petrochemicals...' are still following the market fluctuations, but are significantly weaker than the market trend.

There are no obvious signs of centralized main funds taking over, and there is no concentrated selling pressure.

Its main form trend has still not formed a clear upward trend, and it has not shown a strong 'bull market' form like the previous popular core lines. (End of chapter)