The investment era of rebirth

"This market trend... is indeed a bit beyond expectations." Hearing Zhou Kan's exclamation, Xu Xiang, who was sitting next to Zhou Kan, squinted at the market where the two cities were trading fiercely, and responded, "But the more so. The sharp rise in the continued short squeeze shows that the market is not far from a possible extreme adjustment."

"Boss, do you think this wave... Where will the Shanghai Index reach the highest position?" Zhou Kan turned his head and asked, "Is there a chance it will reach 4000 points?"

Xu Xiang thought for a while and said: "No one can accurately predict where it will reach. It just depends on the emotional response of the market and the general expectations of investors. The current stage is already the hottest node of emotions and expectations. Now, where the Shanghai Stock Exchange can continue to short squeeze depends on how long this extreme hot mood can last.

However, I feel that this kind of extreme hot emotion is difficult to sustain for a long time.

After all, the index was so aggressively short squeezed.

The market's investor expectations are advancing very rapidly.

Just like the current moment, the vast majority of investor groups should expect that the Shanghai Stock Exchange Index can continue to quickly break through to the 4000-point mark without any obstacles.

However, expectations are too consistent, and profits and arbitrage accumulation are too fast.

Once the market trend has a reaction that is slightly less than expected, or the positive news is released, it is slightly less than expected.

Then, the market trend and everyone's emotional reaction will make it difficult to maintain this extreme situation.

And once the mood drops a little.

Then, the huge potential short power that has been accumulated in the market will quickly and intensively sell chips when expectations are loosened, completely suppressing the development of market conditions.

Therefore, the market trend under such extreme emotions.

Although it is the stage where profits are gained most quickly, it is also the stage where potential risks accumulate rapidly, which is very likely to trigger a huge retracement.

At this time, if you are too greedy.

There is a high probability that a large amount of excess profits obtained previously will be returned to the market.

Of course, although the potential short power in the market is increasing sharply, and after this extreme sentiment fades, the market may experience an overly extreme adjustment trend.

But from a long-term macro-level analysis, there is still no need to be pessimistic.

After all, on the whole, the market's heavy hold-up chips in the past have been completely loosened by the continuous rise for a month and the rapid expansion of volume. There are also fundamentals of many mainline stocks in the market. The situation has indeed been completely reversed, with solid investment logic and stock price support.

Furthermore, although the market's volume growth rate has begun to gradually weaken.

However, the number of new investor groups entering the market, as well as the number of various capital groups, continues to increase.

Under this situation, even if there is an extreme adjustment in the market, it should be a benign adjustment. "

"That is to say... the bull market pattern of the market can still continue, right?" After listening to Xu Xiang's analysis, Zhou Kan said, "In that case, should we continue to maintain the previous method in terms of current trading strategy? ? Do you want to make some adjustments?"

Xu Xiang pondered for a moment and said: "The core main chips of 'big finance', 'big infrastructure', and 'military industry' held by our main fund products, in addition to the current trend, continue to outperform the market index, and are also rapidly gathering Among the core leading stocks undertaken by the main capital groups, other corresponding main-line stocks that have continued to experience net outflows of main capital and have an upward trend slope have begun to gradually flatten out should take profits. At this stage, we should gradually stop profits as much as possible.

As for the non-'big finance', 'big infrastructure', and 'military industry' stocks that are not in the popular main lines.

Those who have followed the market index to short-sell and continue to rise sharply can also appropriately reduce their positions and take profits to further reduce the cost of holding positions.

As for the stocks that are still hovering at the bottom, there are no corresponding stocks that have risen sharply with the market index in this round. You can just hold on and wait for the market's style to switch.

The main rising stage under extreme market sentiment.

Generally speaking, stocks in the main line field will have a continuous siphoning effect of funds of "the strong will get stronger and the weak will remain weak".

That is to say, the popular mainline stocks with extremely high market attention and high investor participation may continue to reach new highs before market sentiment completely declines. The slope of their upward trend may continue to rise, but funds have already been It will be difficult for other mainline stocks with a large number of profit-taking measures to get the continued attention and acceptance of a large number of major financial groups at this stage. Naturally, it will be more difficult to achieve new market heights than a group of popular stocks.

On the contrary, at this stage, the corresponding stocks in the non-popular main line areas.

Due to the continuous siphoning effect of a number of popular mainline stocks on the active main capital groups in the market.

Among the non-popular main lines, stock groups with high trading activity and at a relatively high level are more likely to be siphoned away by the popular main line stock groups.

Then there are non-mainline weak stocks that have not risen much in the first place and have significantly underperformed the market index.

There are no active main financial groups on the market.

In addition, these stocks basically have no profit margins, and the funds holding positions on the market have little desire to smash the market. Therefore, at this stage... these weak stocks are unlikely to be further siphoned away by the continued rise of popular mainline stocks. , that is to say, its relative market trend will be more stable. "

"Understood!" Zhou Kan nodded after listening to Xu Xiang's explanation.

Immediately, as the market continued to rise, he turned around and issued new investment strategies and trading instructions to several groups of traders in the trading room.

As changes in investment strategies and trading instructions are reflected on the market...

As the market trading time went by, after the trading hours of the two markets entered 1:40, the Shanghai Stock Index reached a maximum intraday increase of 2.13%. It was also when the Shanghai Stock Index further approached 3600 points, reaching a maximum of 3591.28 points. When it was in position, it once again encountered huge disk resistance.

At 1:41, the Shanghai Stock Index turned around and fell from its 2.13% increase.

At 1:42, the A50 index followed suit and also turned back from its intraday increase of 2.89%.

At 1:43, 'big finance', 'big infrastructure', 'military industry' and other popular main areas, related 'securities, banking, insurance, architectural decoration, building materials, commercial real estate development, steel, public transportation, Non-public transportation, national defense and military industry...' and other industry sector indexes also turned around and showed a retracement trend.

At 1:44, the 'Internet Finance' sector index, after hitting its highest intraday increase of 5.15%, also retraced to below the 5% increase.

At 1:45, "Hengsheng Electronics", which had already hit the daily limit and sealed the daily limit, exploded. At 1:46, ‘Huaxin Securities’ fell from around the 7% increase position during the day to the 6% increase position, and the time-sharing energy during the day also showed signs of amplification once again in the decline in stock prices.

At 1:47, the Shanghai Stock Index fell back to the 1.93% increase position, losing the 2% increase mark. At the same time, the distance from 3600 points was once again widened.

At 1:48, two heavyweight stocks, China South Locomotive and Rolling Stock Corporation and China North Locomotive and Rolling Stock Corporation, retraced and fell below the 5% increase mark.

At 1:49, the 'Securities' sector, which had a maximum net inflow of main funds of 39.73 billion, began to gradually reverse its net inflow of main funds, with its net inflow of main funds falling from 39.73 billion.

At 1:50, the time-sharing volume of the two cities can continue to expand, and the selling power increases.

At 1:51, the core popular stock 'Huaguo Construction' fell below 5% during the day. In more than ten minutes, it plunged more than 2.5 points, and the transaction volume of this check at this moment also increased to about 65 billion. , continuing to rank second in the turnover rankings of the two cities.

At 1:52, the stock price trend of a number of popular core stocks in the 'national defense and military industry' sector, such as 'China Airlines Shenyang, China Airlines West, Northern Navigation, Aviation Power...' also fell sharply, and 'national defense' The military industry sector index, at this time, also fell from the highest increase of 3.89% to below 3%.

At 1:53, the "Huashang Securities", which had once sealed its daily limit, exploded, and the time-sharing volume was rapidly enlarged.

At 1:54, in the ‘sub-new stock’ sector, the ‘sub-new stock’ sector index also experienced a downward adjustment.

At 1:55, 'Leiman Optoelectronics' exploded, and the entire 'Sports Industry Development' concept sector weakened, and a large number of major selling orders at the level of thousands and thousands of hands began to appear on the board of component stocks related to its concept sector. .

At 1:56, "Huaguo MCC" showed a trend of exploding. On its daily limit, more than 18 orders were closed by the main force, and all of them were eaten up by the main selling orders.

At 1:57, 'Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo China Construction, Huaguo CSR, Huaguo CNR, Huaguo Baosteel, Huaxin Building Materials...' and a large number of 'Huaguo' prefixes 'Infrastructure-weighted popular stocks continue to fall in market trends, and at the same time, trading volume has once again shown an amplified trend.

At 1:58, the Shanghai Stock Index fell back to a gain of 1.85%.

At 1:59, the A50 index's intraday increase retraced below the 2.5% increase.

At 2 o'clock in the afternoon, the net inflow of main funds in the entire 'Securities' sector has fallen back below 30 billion, and in the main line of 'Big Finance', the net inflow of main funds in the day has also dropped from the highest level of 75 The billion mark has fallen back to its current position of 50 billion.

At 2:01, ‘Oriental Fortune’ fell back, and its stock price suddenly fell to a 7.52% increase.

At 2:02, the intraday gains of the Shenzhen Stock Exchange Index and the ChiNext Index began to show a straight-line dive, with the gains falling back to 1.25%.

At 2:03, in the "sub-new stocks" sector, a near-end sub-new stock named "Eiger Technology" suddenly showed a huge trend of extremely serious money-losing effects.

At 2:04, the intraday gains of ‘sub-new stocks’ sharply shrank again.

At 2:05, along with the collapse of "Eiger Technology", a number of near-end sub-new stocks were greatly affected. In a short time, at least 4 near-end sub-new stocks exploded.

At 2:06, the Shanghai Stock Index fell further below the 1.80% increase.

At 2:07, the daily daily limit of "Flush" began to decrease sharply, and the selling power on the market increased sharply.

At 2:08, the net inflow of main funds in the entire "Securities" sector has fallen back to around 21 billion. In a short period of time, more than 10 billion of main funds were sold off on a large scale on the market.

At 2:09, when the intraday trading volume of "Huaxin Securities" hit 90 billion, the intraday increase retraced and fell below the 5% increase mark.

At 2:10, the intraday increase of Huashang Securities, which had been blasted, further dropped to 6%.

At 2:11, the intraday trading volume of the entire "securities" sector hit the 1100 billion mark.

At 2:12, in the process of rapid expansion of market time-sharing capacity, it can be seen that the active capital groups in the entire market are still related to popular main fields such as 'big finance', 'big infrastructure', and 'military industry' The market is further concentrated on popular stocks, and the capital siphoning effect in the market is still intensifying.

At 2:13, the Shanghai Stock Index fell back to a gain of 1.70%.

At 2:14, the near-end sub-new monster stock 'Huake Shuguang', which had originally sealed its daily limit and emerged from a strong rebound, suddenly appeared in a bursting pattern.

At 2:15, landlords continued to sell tens of thousands of large orders. On the market of the stock 'Huake Shuguang', there was a large-scale sell-off, causing the stock price to fall straight from the daily limit to near the 7% increase position.

At 2:16, with the explosion of the "Hua Ke Shuguang" check, a number of popular concept stocks that had their daily limits all experienced a certain degree of market loosening in the entire market.

At 2:17, the 'Blue Stone Reload' check, which is expected to be the best in terms of market sentiment and long-term consistency, also had continuous 5000-lot sell orders on its daily limit. Fortunately, the check had a larger closing order. , the temporary market volume can be loosened, and it did not cause this stock to explode.

At 2:18, the GEM index fell below the 1% increase mark during the day.

At 2:19, the A50 index quickly retreated to a 2% increase.

At 2:20, the Shanghai Stock Index fell back to a gain of 1.65%.

At 2:21, the main net inflow of funds in the entire 'big finance' main line field has fallen back to the 27 billion mark, and continues to decrease sharply. It seems that the main chip structure of the entire 'big finance' main line field has begun to emerge. Noticeably loose.

At 2:22, the Shanghai Stock Index started to rise at an increase of 1.63%.

At 2:23, under the continuous attack of tens of thousands of large orders, the stock price of Huake Shuguang also hit the daily limit again from the 6.76% increase in the market.

At 2:24, ‘Huake Dawn’ closed its daily limit, saving the entire ‘sub-new stock’ sector from almost collapsing.

At 2:25, 'Huaxin Securities, Huashang Securities, Huatong Securities, Huashang Bank, Huatong Bank...' and other 'big financial' main line weight stocks, as well as 'Huaguo Construction, Huaguo Railway Construction, Huatong Bank...' Heavyweight stocks in the main line of "big infrastructure" such as China Communications Construction Company, China State Construction Engineering Corporation, MCC, CSR, CNR, Baosteel, Huaxin Building Materials, etc., have begun to gradually rebound and slowly recover these stocks. The diving trend lasted for more than half an hour.

"Hey, at 3600, it seems the pressure is still quite high."

At around 2:30, in the Magic City, inside the Principal Financial Investment Company, in the 'Future Investment Mixed Selection' fund product trading room, product fund manager Zhao Zhongming saw that the Shanghai Stock Index, and even the entire market, fell into a late-day surge and a pullback, with heavy volume. After that, the familiar trend of shrinking and oscillating volume returned, and he couldn't help but sigh and said: "It seems that we still can't be too anxious, nor can we expect too high. We have to give the market more time to let the bullish sentiment and confidence go." , just let it ferment further!" (End of this chapter)