The investment era of rebirth

"It's really weird. The peripheral market has been in trouble for four consecutive times!"

At around 8:30 in the morning, at this moment, in the Magic City, inside Yinghui Fund Company, in the 'Yinghui No. 1' main fund product trading room, fund product manager Liu Guanhai browsed the pre-market information and stared at the impact of the US stock market. The entire Asia-Pacific stock market, which opened lower across the board, frowned: "The external market trend is broken, and the European Purchasing Managers Index for the third quarter announced last night was also seriously lower than expected, which shows that the European economic recovery is also likely to be slower than expected. It is expected that the global economic recovery situation is not optimistic.

Under such a situation, the macroeconomic sluggishness will most likely affect the underlying logic of the A-share bull market!
The Shanghai Composite Index is at 3500 points.

I thought it was just a small pressure point, but it was not difficult to break through.

Looking at it now, without the cooperation of the right time and place, it is still very difficult to really break through this position and completely open up the space for the bull market by relying solely on changes in emotions and funds! "

"There shouldn't be any problems with the underlying logic of the bull market in the A-share market, right?" Yu Lei, the trading team leader of the 'Yinghui No. 1' fund sitting next to Liu Guanhai, heard Liu Guanhai's slightly less confident words and responded, "Europe The economy has actually not emerged from the shadow of the financial crisis, and everyone's expectations for a comprehensive recovery of the European economy are not very strong.

In fact, under the current situation.

The core engine of global economic recovery has been transferred to our country.

Moreover, judging from the various economic recovery and revitalization strategies currently introduced, as well as the stimulus effects of various policies, the phenomenon of domestic economic recovery is still relatively obvious.

Analyzing from a macroeconomic perspective, the market has experienced a brutal six-year bear market.

In fact, it still has the underlying logic for the outbreak of the bull market.

What's more, the regulatory attitude towards the A-share market is also very obvious. For the implementation of many macroeconomic strategies, we also need a bull market to relieve the market's direct financing difficulties and allow more people to invest in the A-share market. High-quality companies can go public smoothly.

Therefore, from the analysis of various domestic actual factors, there is no problem with the basic supporting logic of the bull market.

It’s just the impact of external market trends on the A-share market...

At present, this does have a somewhat negative meaning, but as long as there is no problem with the underlying logic of the bull market, the overall macro-capital level continues to be loose, the market's overall investment confidence and investment sentiment, and even the money-making effect of the entire market will continue to improve. Progressive development.

Well, I think the external market has an impact on the A-share market.

It should be decreasing step by step.

In other words, the marginal effect of its influence will gradually weaken. Our A-shares have the opportunity to develop an independent market under the influence of the current comprehensive factors of macro, capital and sentiment.

In fact, you can predict something by looking at yesterday's market trend.

Didn’t the U.S. stock market also close with a sharp drop last Friday?Don’t you also expect that the recent trend of the U.S. stock market will most likely not be optimistic and may fall below the bull market trend line?So yesterday morning, the overall market sentiment was not good, at least it should be worse than the current market sentiment.

Sure enough, under such worries, A shares opened lower.

However, the impact of the sharp drop in the external market only affected a lower opening.

After A shares opened lower, with the support of sufficient funds and the incremental capital groups that continued to pour into the market, they quickly reversed and established a positive trend.

I think the market trend today should be similar.

We have a high probability that the market has entered a bull market, and more and more investors inside and outside the market have entered the market aggressively, and the logic of recognition of the bull market is getting stronger and stronger.

We should always have a more positive attitude towards market trends.

Of course, if the actual market trend continues to be worse than expected and goes beyond the bad expectations, then we can only make corresponding changes in trading strategies based on the actual trend development of the market. "

"So... do you think we should continue to maintain a relatively optimistic investment attitude, maintain a high position level, and wait for further changes in the market?" Liu Guanhai turned his eyes and looked at Yu Lei, "It's not impossible. But we should still prepare corresponding plans!"

Yu Lei nodded and said: "Prepare corresponding plans in advance, that's for sure."

As the two of them talked...

At the same time, inside the same company, in the main fund trading room of 'Yinghui No. 2'.

Shao Xiaoyun, the product manager of the 'Yinghui No. 2' fund, stared at the Asia-Pacific stock market, which opened lower across the board, and frowned visibly, saying: "Looking at the emotional performance of the market and the trend of the external market, it is hard to say that the market will be different today. It forms a low opening situation!”

"There is a high probability that it will open low." As he spoke, Liu Changling, the trading team leader sitting next to him, responded, "However, it can only affect a low opening situation."

"Can it also affect a low opening situation?" Shao Xiaoyun repeated with a smile.

Liu Changling nodded and said: "Isn't it? During this period, the influence of external market trends has always been showing a diminishing marginal effect on the A-share market, and the 'big finance', 'big infrastructure', and 'military industry' The expectations of several core main lines, as well as the overall investment logic, are basically difficult to be affected by external market trends.

As long as there are no problems with the basic logic of the core main lines of 'big finance', 'big infrastructure' and 'military industry'.

And in terms of regulatory authorities, corresponding macroeconomic policy stimulus.

It is still stimulating the investment logic and future expectations of these core main lines. So when the future expectations of these core main lines are still in a state of continuous enhancement or continuous improvement, the market trends of these major main lines will , it is still difficult to continue to fall.

Since these core main lines have blocked the downward channel and space under the current situation.So, where can the market, which is mainly supported by these core lines, fall?In other words... where does the downward momentum come from?

From yesterday, we can sense the trend of the entire market.

I think that now that the bull market trend in the market and the corresponding bull market expectations have been formed, they are being recognized by more and more investor groups both inside and outside the market.

Then, this gradually deepening trend development and market development will not be easily changed.

After all, market development and emotional progression have strong inertia.

As long as the current global economic macroeconomics and the domestic economic macroeconomics do not have such extreme fundamental changes as the so-called 'financial crisis'.

So, this trend can definitely continue.

What's more, the current financial situation in the market is increasingly abundant.

With more and more capital flowing into the market, it is basically impossible for the overall valuation level of the market to drop.

Actually, at this time, we really don’t need to worry too much.

Not to mention that the holding volume of our fund products is not particularly large. If you want to quickly reduce your position and take profits, you can do it at any time. Just from the perspective of the regulatory authorities, under their strong desire to trigger a bull market, even if The market suddenly experienced a continuous extreme downward trend.

As the market regulator, we will definitely quickly introduce some major benefits to stabilize the market.

In other words, even if the market goes extremely bad.

In extreme cases, we can escape unscathed in time, and there is no need to worry about future events that are unlikely to occur at all. "

After hearing what Liu Changling said, Shao Xiaoyun thought for a moment, nodded steadily, and responded: "That's right, I'm too sensitive."

"It's not that we are sensitive." Liu Changling smiled and said, "The main reason is that it is not easy to achieve the performance of our fund products. We want to follow the market rhythm as perfectly as possible and reduce the possible net worth retracement. This is also a subconscious consideration. No wonder Manager Shao has such a psychological change."

Shao Xiaoyun nodded and said with a smile: "It's quite easy for you!"

"If you don't worry about gains and losses, you will naturally feel relaxed." Liu Changling said, "When you are in the development stage of a bull market, you still need to have some faith. Isn't it a common saying that 'holding shares is like being a widow'? I think as long as the fundamentals of the stocks we hold There is no problem with the logic. If there is no major change in the investment logic of the initial purchase, profits should continue to run, and then it is not until the overall trend of the market reverses, or its fundamental changes are no longer in line with the original investment logic, that the final profit should be exited. "

Shao Xiaoyun nodded slightly and said, "It's easier said than done!"

As the amount of funds under his control increases and the pressure on his heart increases, it becomes increasingly difficult to achieve what Liu Changling said.

It is said that if there is a burden in the heart, then it will be difficult to achieve calmness.

Thinking of this, Shao Xiaoyun couldn't help but be curious...

I can't figure out how the young Mr. Su, as the main fund product of the 'Yu Hang Series' with a capital of hundreds of billions, can maintain this change of mentality. Faced with the continuously changing market conditions and extreme market fluctuations, Keep your mind calm and hold your position firmly.

Of course, he thought about it carefully for a while and felt that it was normal that he couldn't figure it out.

After all, the other party is a true legend in the market, and he is currently just a small unknown fund product manager.

There is a huge gap between the two in terms of investment achievements and trading understanding.

While he was pondering, unknowingly, the time had reached 9:15. The two cities once again ushered in the initial call auction amid the emotions brewing in the early trading and the collision of pre-market investment views.

I saw the time hand, just past 9:15.

The stagnant market conditions of the two cities began to change rapidly in an instant, disturbing the attention and nerves of tens of millions or even hundreds of millions of investors both inside and outside the market.

At 9:16, the market fluctuated rapidly after 1 minute.

The market trends of the two cities have finally stabilized, and the market situation of the initial call auctions of the two cities has finally become clear.

After a minute of rapid trading, the two markets showed a clear trend of opening lower, including a number of industry sectors, concept sectors, and even most market stocks.

Among them, the main technology lines such as 'smartphone industry chain' and 'mobile Internet' led the decline.

However, the core main areas of 'big finance', 'big infrastructure' and 'military industry', as well as related industry sectors and concept sectors, maintained a slightly higher opening trend.

Of course, the 'sub-new stocks' sector was subject to severe fluctuations yesterday due to the influence of 'Huake Dawn'.

At the beginning of today's call auction, it also showed a trend of opening sharply lower, directly leading the decline in the concept sector of the two cities. Among them, the core stock in its sector, 'Huake Shuguang', even showed a soul-breaking one-word knife. The opening trend of the 'one-word limit-down' pattern.