The investment era of rebirth

"What's going on? Under such circumstances, you still dive?"

Faced with the continuous oscillation and decline of the Shanghai Stock Index after the opening of the market, around 10 o'clock in the morning, inside Yanjing Yihe Capital Company, in the main fund trading room, the fund manager and general manager had been observing the market and had high expectations for today's market trends. Chen Yihe, the general manager of the company, frowned visibly and said: "The external markets are all experiencing rapid breakthroughs, and the domestic news is all positive. The sentiment of market investors is clearly very good. Why do we continue to break through at this position?" Why is it so difficult to get up? I feel that the power of the bulls in the market and the funds that continue to be received are not weak!"

"Maybe it's still a matter of profit taking." Next to Chen Yihe, Gao Xiang, who is the company's main fund product trading team leader, thought for a moment and responded, "In this position of the market, the profit taking and arbitrage pressure accumulated in the market , it is still too big, and it must be digested by shocks, but I think... even if the index temporarily surges higher and falls back, it will definitely be able to fluctuate upward in the end and form a continuous breakthrough trend.

After all, just like what you said, boss...

Whether it is external market trends or domestic news, they are all positive, and the bullish atmosphere in the market is getting stronger and stronger.

In this case, low-quality mainline chips are scarce.

There is simply no room for a sharp decline or correction in the index and market.

Therefore, even if you want to digest profits and unwind arbitrage, there is a high probability that it will be a trend of shock and gradually rising.

At this time, what should be tested is everyone's patience in holding shares and their inner belief in the market's bullish expectations. Once the patience is not enough, the belief will be insufficient.

What you hold in your hand is a bargaining chip with a certain cost advantage.

It is easy to be washed away by the main funds active in the market. "

Chen Yihe heard Gao Xiang's analysis, pondered for a moment, and said: "According to your analysis, the market's trend performance is more conducive to the subsequent development of the market?"

Gao Xiang responded: "That's how it is. I don't think there is any problem with the current market trend. We just need to hold positions patiently and wait for the market shock and adjustment to end. I believe that the market shock and adjustment will not take long. After all, December is the time when many institutions in the industry are actively adjusting their positions and working hard to achieve performance."

"I hope the market adjustment time will not be very long." Chen Yihe nodded, "But there is no problem with the overall market trend. What about the specific main line market performance? In the past two days, the market has been supporting a strong upward breakthrough. The main line of 'big finance' is obviously weaker than the main line of 'big infrastructure'.

Our fund products and the main holding chips are all concentrated on the main line of "big finance".

You feel……

Is it necessary for us to balance the position structure and adjust departmental positions from the direction of 'big finance' to the main direction of 'big infrastructure'? "

Gao Xiang thought for a while and responded: "There should be no problem with the 'big finance' line, right? Moreover, the current bull market expectations are getting clearer and clearer, and the logic is getting clearer. The core line of 'big finance' is being hyped Logic and investment logic are still the most certain in the entire market.

It's just that in the main line of "big finance", there are too many chips for short- and medium-term profit taking and settlement.

A temporary suppression was formed on the disk.

That’s why the ‘big finance’ line has not outperformed the core main line of ‘big infrastructure’ in recent trading days.

But, for now.

The potential benefits and expected logic of the main line of "big finance" are still better than the main line of "big infrastructure".

At the same time, there are still expectations for the central bank to cut interest rates and reserve requirement ratios.

Also, even compared to the specific valuation, the overall increase in stock prices after rising from historical lows is that the "Big Finance" line has an advantage.

I think the core thread of ‘big finance’ is currently causing market divergence.

Not only is it not a selling point that should be used to reduce positions and take profits, but it is also a good buying point to increase positions and go long.

At this time we...

We should not reduce our holdings in the main line of 'big finance' and spread them to the main line of 'big infrastructure'. Instead, we should further concentrate our positions on the core leading stocks of the main line of 'big finance'.

After all, once the market ends its adjustment, it will break through again.

Then, as the vanguard main line that supports market breakthroughs, the popular heavyweight stocks in the main line of 'big finance' will definitely become the first target of attacks by the main capital groups, create a smoother breakthrough trend, and create higher stock price increases. , significantly outperforming the market index.

Therefore, we focus on holding core stock chips on the main line of "big finance".

I think we can capture the market's excess profits with a high probability, and at the end of the year, we can push the performance of our fund products upwards. "

"But at present, the certainty about... rumors related to the central bank's interest rate cuts and reserve requirement ratio cuts is still not very high." Chen Yihe said, "In case this news fails and the positive expectations cannot be realized, our concentrated positions are in the 'Big Financial 'On the main line, that would be very troublesome."

Gao Xiang said: "I think there is a high probability that it can be fulfilled, right? After all, last night, according to the news in the external market, major foreign financial institutions generally expected that the Federal Reserve interest rate meeting on Friday would not raise interest rates rashly. ? There are obvious differences between the Federal Reserve and the central bank in the management of interest rate expectations.

Generally speaking, if most foreign financial institutions generally agree with this, they are basically inseparable.

And since the Fed will not raise interest rates rashly.

Then our domestic central bank has a lot of cards in its hands.

Moreover, in order to recover the macro economy and ease the pressure on monetary liquidity at the end of the year, it is basically a certainty that the central bank will cut interest rates and reduce reserve requirements, right? "

Chen Yihe continued to ponder for a while while Gao Xiang continued to analyze and output his opinions, thinking about this position and the performance ranking of his main fund products. He was not far away from the top 100 in the industry. If he could take advantage of the opportunity A rush will obviously be very beneficial to business development next year.

Even if it fails in the end.

When the Shanghai Stock Index has basically sealed its downside, it has just wasted a period of time and the market opportunities during this period.

Thinking of this, Chen Yihe said: "Okay, continue to adjust positions according to your ideas."

Gao Xiang nodded and immediately ordered the traders behind him to continue adjusting positions.

And at the same time...

In Shanghai, the self-operated investment department of Huatong Bank, fund manager Deng Jialun stared at the market of the two markets and made the same strategic choice as the 'Yihe Investment' company.

Likewise, there are many groups of retail investors on the market, as well as medium and large investors.

Looking at the shock and decline of the two markets.

No one feels panic, or that market risks are approaching.

Everyone still thinks that all market corrections are good opportunities to add positions, to adjust positions and exchange shares, to seize the main line weight stocks, as well as various high-quality stock chips in the market.

It is in this market that the market continues to be divided between long and short.

The Shanghai Composite Index continued to fluctuate until around 2 o'clock in the afternoon, and then began to rise rapidly again. Especially the main line of "big finance" that has attracted everyone's attention. Suddenly, unlike the late dive in the previous two days, it began to rise intensively in the late session.

Finally, when 3 p.m. arrived.

The Shanghai Stock Index still closed above the high opening position in early trading, and continued to close in the red.

While the Shanghai Stock Exchange Index continues to close in the red, popular main lines such as ‘big finance’, ‘big infrastructure’, and ‘military industry’ also continue to be active.

And in the final stage of the game.

The securities and Internet finance sectors have returned to the top of the list of industry sectors and concept sectors in the two cities.

Among them, the popular stocks in the two major sectors, 'Harbin Investment Capital', 'Huaxin Securities', 'Great Wisdom', and 'Huake Financial', several stocks rose rapidly in the late trading and were sealed at the daily limit. .

As for ‘Huake Dawn’ and ‘Blue Stone Heavy Equipment’, two big monster stocks in the sub-new stock sector.

Today, the huge long-short divergence continues, with the market oscillations exceeding 10 points in amplitude.

Faced with the re-emergence of the main line of 'big finance', the market fluctuated for most of the day, and finally showed another upward breakthrough pattern at the end of the day.

After the market closes, a broad group of investors both inside and outside the market.

The emotional expression was actually more intense than during the session.

"Hey...the Shanghai Stock Exchange Index actually closed above the opening level today. This is a bit beyond expectations!"

After the market closed, someone in the main hot money group of Yuhang where Su Yu was located expressed emotion.

"Moreover, the main line of 'big finance' has also led the rise again. Looking at the market trend pattern, there are obvious signs of the end of the market adjustment in the late trading."

"It has been fluctuating for several days. The profits and settlements have been almost cleared, right?"

"Today's late trading trend is indeed a bit beyond expectations, but it is a pity that today's market turnover still failed to reach the trillion mark."

“It’s only a matter of time before the volume can break through the trillion mark.”

"It is still the 'big finance' that leads the rise, and the vitality of the market is stronger."

"However, today, the two short-term sentiment indicators of 'Huake Dawn' and 'Blue Stone Heavy Equipment' seem to have stalled."

"Both these two checks have increased more than 10 times since their listing. It is normal for adjustments to have increased so much."

"Fortunately, although today's trend of these two checks has a large amplitude, it basically does not show a strong money-losing effect on the market. It should not have too bad an impact on the market's short-term speculation sentiment and short-term market conditions."

"There will be no negative impact at all. After all, the stock price of these two checks can rise to the current position, which is already very unexpected."

"Many of the stocks that were on fire today were closed at the end of the day. This should be a good sign."

"Sure enough, the market's room for decline has been completely sealed. It really can't go down at all. I originally prepared 300 million yuan of funds and planned to buy the bottom during the violent market adjustment. Alas... now it seems that it is probably impossible to achieve it. ”

"In a bull market, it is definitely difficult to buy at the bottom. You can only chase the high to grab funds."

"As long as they are high-quality chips, I think it doesn't matter if they chase higher and buy, but it will just lose a little cost advantage of holding positions."

"The trend of the 'Great Wisdom' check today is a bit beyond expectations."

"Indeed, I really didn't expect that this check would reach the limit today."

"I feel like the securities and Internet financial sectors are going to accelerate their growth, right?"

"Accelerating the main rise? Aren't the previous market trends of these two major sectors not counted as the main rise? They have generally doubled!"

"The index has almost doubled since it bottomed out at 2000 points. Isn't it normal for stocks in the popular securities and Internet financial sectors to have doubled? On the contrary, I feel that the general increase of double has not been reflected at all. The entire 'big financial' thread is strongly anticipated."

"There is no doubt that the 'big finance' line will definitely continue to skyrocket."

“At present, overall, the valuation level of the core line of ‘big finance’ is still seriously behind the line of ‘big infrastructure’, right?”

“Not only is the valuation lagging behind, the growth rate is also lagging behind across the board.”

"According to the core line of 'big infrastructure', the entire trend since April this year, and the range of growth, the 'big finance' line will definitely have a major rise."

"Yes, at least stocks like 'Huaxin Securities', 'Huatong Securities', 'Hengsheng Electronics'... these stocks have not yet gone out of an obvious main upward trend, and the cumulative increase in stock prices from the bottom is also relatively behind the Shanghai Stock Exchange Index. Logically speaking, the increase from 2000 points should have room to make up for the increase."

"No matter how the direction of the core main line changes, I think as long as there is no problem with the overall market, then you can make short-term decisions with confidence and boldness."

"Yes, as long as the market's risk appetite is still at a high level, then just continue to fight against the short-term."

"In the 'sub-new stock' sector, after the wave of hype of 'Huake Dawn' and 'Blue Stone Heavy Equipment' comes to an end, there should also be new monster stocks born..."

With the rapid refresh of news in the group, and the in-depth interpretation of the market by the big guys in the group.

Unconsciously, the market time has reached 5:30 pm again.

The dragon and tiger rankings of the two cities were refreshed, and at the same time, the market's balance data of financing and financing were also disclosed.

According to the two financing data disclosed by the market, both the financing balance and the securities lending balance are rising, and the financing balance has increased by more than 50 billion compared with yesterday. The total financing balance of the two cities has reached a scale of more than 11400 trillion. .

As for the disclosed data on the dragon and tiger rankings of the two cities...

I saw that although the number of stocks listed on the two markets today continues to be lower than yesterday, the total net purchases of main funds on the entire Dragon and Tiger list have increased significantly compared with yesterday.

Among them, two securities stocks, especially Huaxin Securities and Harbin Investment Capital, are on the list.

Among the trading seats on the Dragon and Tiger List disclosed by it, the total net purchase amount of main funds actually reached a scale of 4.2 million, which greatly exceeded the expectations of many investors in the market and also surprised countless investors who paid attention to these two checks. .

No one expected it at this location and at this time.

The institutional capital group, which is the absolute main force in the market, actually continues to increase its positions on a large scale and frantically to raise funds for stocks in the securities sector. (End of chapter)