The investment era of rebirth

"This is indeed the case." Fang Xinsheng said, "So we still need to be cautious and conservative in our future trading strategies and investment strategies. According to my analysis, in December, due to the general adjustment of major institutional groups, Positions and trading strategies change significantly.

Therefore, the fluctuation range of the market is not expected to be small.

We cannot underestimate this wave of adjustments, and of course, we do not need to be too pessimistic.

Let the next market changes take their course. If the market falls very hard, you can continue to increase your position appropriately. If it does not fall much, or it falls slowly, then just continue to wait patiently. "

"Okay." Liu Xin nodded and said, "The performance of these two main fund products managed by our institution this year has completely exceeded the expectations at the beginning of the year. Now that it is the end of the year, the goals at the beginning of the year have been completed. For the investor groups who trust us, since we have already made an explanation, we should naturally focus on preserving the fruits of victory and not invest aggressively.

If the market can have a big trend, then we will do it.

If there is no sustainable market trend with relatively high certainty, then we will rest.

Our main task now is to fully prepare for research and analysis for tomorrow’s investment goals and corresponding investment targets. "

"Okay, I completely agree." Mou Zhengxing said with a smile, "It should be right to maintain a light position this month."

Just when several core figures from Xiniu Fund Company were carefully analyzing the newly released financing data from the two cities, as well as the Dragon and Tiger List data, and formulating follow-up trading strategies and investment strategies.

Also in the Shenzhen Stock Exchange, Pingyin Asset Management Trading Center.

As the product manager of the main fund, Chen Shen looked at the data of the dragon and tiger rankings of the two cities, especially when he did not see the appearance of the trading seats related to the main funds of the 'Yu Hang Group', he also looked confused, looked very surprised, and looked puzzled. : "What does this mean for the funds of the 'Yu Hang Group'? It was reduced on a large scale for one day, and then stopped? Is this... is it a wash? Are you deliberately letting everyone follow suit and sell?"

As he spoke, he turned his attention to Gao Yixiang and Wang Jinglun and asked, "What do you think?"

Gao Yixiang thought for a while and responded: "It doesn't feel like... it's not a wash, right? From the overall market trend, in the past two days, it is true that the net outflows of the main capital groups have been relatively large, and the news of the central bank cutting interest rates and RRR cuts has come to light. Afterwards, with the concentrated selling of a large number of major financial groups, the chip structure of the core main lines of 'big finance', 'big infrastructure' and 'military industry' has indeed been basically loosened."

"I also think... it's definitely not a wash?" Wang Jinglun said, "'Yu Hang Group', the main force of funds, according to the evaluation of their positions by many investment institutions in the market, this institution is in the 'Big Finance', 'Big Finance' Positions in popular main areas such as infrastructure and military industry have long been in heavy positions.

Now that this institution has heavily invested in the popular main areas of 'big finance', 'big infrastructure' and 'military industry', it has high-quality chips related to popular weighted stocks and core component stocks.

So washing dishes is not necessary for them at all.

Generally speaking, the washout is for the main funds that have not collected enough chips, and this definitely does not include the main funds of the 'Yuhang Department'.

Moreover, look at the market trend yesterday and today.

Especially yesterday's market trend, the main funds of the 'Yu Hang Series' sold so quickly. It was basically selling under pressure, and it was not a wash operation at all. Generally, there is no complete unilateral selling behavior in a wash. All this shows that the main force of the 'Yu Hang Group' is really reducing its positions on a large scale. "

"Since it's not a washout, how can we explain today's Dragon and Tiger List data?" Chen Shen said, "How can we explain that the main force of the 'Yu Hang Group' suddenly disappeared today after a large-scale reduction of positions and profit taking yesterday? There is no way that the main fund of the 'Yuhang Group', with more than 2000 billion position chips, could have finished reducing its holdings yesterday, right?"

"It is naturally impossible to reduce such a huge amount of holdings in one day." Wang Jinglun said, "But is it possible that the main funds of the 'Yu Hang Group' could have been reduced as early as a week?" , Or maybe you started reducing your positions and taking profits half a month ago?"

Gao Yixiang thought about it for a while and said: "Not to mention, I think it is really possible. The trading methods and motivations of the main funds of the 'Yu Hang Group' cannot be analyzed with normal logic. Otherwise, the main funds of the 'Yu Hang Group' cannot be analyzed with normal logic." , it can’t be so legendary in the market, nor can it have such a high seat premium and market influence.”

"You started reducing your positions a week or half a month ago?" Chen Shen was stunned and said, "Isn't this too... amazing? A week ago, half a month ago, the market was in the midst of a breakthrough at full speed, that Is it time to reduce positions and stop profits? No matter how you look at it...it’s unlikely!”

Wang Jinglun said: "I think it is entirely possible. The main fund of the 'Yu Hang Group' has made too much money this year on the two core main lines of 'big finance' and 'big infrastructure'. In addition, the central bank The news of interest rate cuts and reserve requirement ratio cuts has been spreading in the market a week or even half a month ago. There are many major financial groups with sufficient expectations for the central bank to cut interest rates and reserve requirement ratios, and everyone is doing this. I think the 'Yu Hang Group' will not fail to pay attention to this arbitrage, which has a strong stimulating effect on the market after the news is released.

That is to say...

In fact, after the central bank cuts interest rates and reserve requirement ratios, the market trend will appear to be in a situation where all the benefits are exhausted. Many funds have actually made relevant expectations and preparations in their hearts early in the morning.

The so-called stock price speculation is based on expectations, not the fulfillment of expectations.

Major financial institutions like 'Yu Hang Group', which are extremely sensitive in the market, can definitely think of this as the news continues to change.

Therefore, I think the data on the Dragon and Tiger rankings yesterday.

The 'Yu Hang Series' large-scale reduction of positions and profit taking will reduce the probability of tail positions, which is still very high.

If such a large major institution does not predict market conditions in advance, it will definitely be difficult to achieve its established investment strategy goals.

Moreover, according to the market trend in the past two days.

Now, as for the motivation of the main funds of the 'Yu Hang Group' to reduce their positions and take profits, we can only think in the direction of the most pessimistic expectations, but not in accordance with the optimistic expectations.

Because under the influence of the main funds of the 'Yu Hang Group', a huge group of funds that follow the trend have been formed.

The internal chip structure of the entire popular main lines such as 'big finance', 'big infrastructure', 'military industry', and 'film and television media' has been completely loosened. This is a fact.

If at this time, we still have any unrealistic fantasies and expectations.

Once you miss a better opportunity to reduce your position and take profit.

Then, in the future, as more and more funds follow the trend and sell off, the situation we face will only become more and more passive. "

"Jing Lun is right." Gao Yixiang also advised at this time, "Mr. Chen, I think in terms of the current market trend, we should shift our trading strategy to the defensive stage. The corresponding trading strategy will be relatively conservative, which will be better. Some, anyway, several of the main fund products we manage have already achieved their performance targets. In the last month when the market is uncertain and improving, there is no need to fight like this. Instead, the current net value will be stabilized and excessive returns will not occur. Withdrawal is more important than continuing to increase profit margins and continue to increase net worth."

The market continued to rise violently throughout November and early December.

In the early stage, they have transferred their main positions to the core main lines of 'big finance', 'big infrastructure' and 'military industry'.

They were here for almost 2 months.

It has made up for the losses caused by investment strategy mistakes in the first half of the year and June and July, as well as the retracement of net worth.

"Okay!" Chen Shen saw that the two of them had relatively consistent opinions. After thinking about it in his mind, he didn't hesitate and said, "Since you both think so, then we will continue to reduce our positions in 'Big Finance' and 'Big Infrastructure' , 'military industry' and other core main line fields, free up positions and wait for plans for the coming year."

"Yeah!" After hearing Chen Shen's words, the two of them couldn't help but nodded, and they both agreed deeply. Now that the annual performance target has been achieved, everyone does not want to fight anymore. After all, the current market trend is uncertain and there is no certainty that it will improve. If you continue to take positions, it will really be a knife-edge licking blood.

same……

At present, there are many institutional groups such as 'Zexi Group', 'Minghui Capital', 'Jingda Investment'... etc.

After carefully reviewing the data of the Dragon and Tiger List for two consecutive days, and after gathering the news at the end of the year and the historical market trends in previous years, in terms of investment strategies and trading strategies, they have also made decisions to continue to reduce positions and stop profits, or in other words Keep the position low, preserve the fruits of previous victory, and control the result of the retracement of net worth.

On the contrary, it is now, in the hot money circle.

As well as online stock exchange forums, communities and other places where retail investors gather, everyone's opinions are quite different.

Among them, in the Yuhang main hot money internal group where Su Yu is located, there are active hot money people who, after reviewing the Dragon and Tiger list data for two days, expressed emotion: "Looking at this, I feel that the 'Yu Hang Series' main fund is run by Mr. Su." , and its associated main funds of the 'Anzhao Series', have no plans to really leave the market. The total scale of these two core main funds should be more than 2000 billion, right? But I have looked through the continuous dragon and tiger in the market in the past month. List data, as well as other transaction information on and off the market, found that the main fund product managed by Mr. Su really only had the only record of large-scale sales on the Dragon and Tiger list yesterday, with a sales scale of more than 20 billion. Compared with 2000 With a position size of more than million, I have reason to believe that the main fund products managed by Mr. Su have not reduced their positions on a large scale and left the market!"

"It shouldn't be. If the main fund products managed by Mr. Su don't intend to reduce positions on a large scale and leave the market, then what does it mean to sell all at once on the Dragon and Tiger list? It caused the market to plummet today, and the main funds from all walks of life followed suit and sold. Well? Analyzing it according to your logic, it doesn’t make sense at all.”

"Clean the floating chips and build a stronger chip platform?"

"It's unnecessary. Whether the market can go up and whether it can continue to move up depends on the combined efforts of funds. Even the 'national team' cannot control the market perfectly, let alone the main fund products managed by Mr. Su? This kind of speculation is completely impossible, and Using this kind of large-scale selling to cause a market panic and a sharp decline in the overall mainline market is a way of injuring the enemy by six hundred and losing one thousand by oneself. Unless Mr. Su is stupid, he will never do this. .”

"If you ask me, you don't need to analyze so much. Wouldn't it be better to judge based on the market trend and capital flow? If it is weak, reduce your position, and if it is strong, recover your chips. Isn't it as simple as that?"

"No matter what the real motivation is for the main funds of the 'Yu Hang Department' controlled by President Su, the fact is that the short-term panic selling pattern in the market triggered by the main funds of the 'Yu Hang Department' controlled by President Su has already formed. At the same time, in the two core main areas of 'big finance' and 'big infrastructure', related main funds have sold off one after another, and the phenomenon of the internal chip structure collapsing has taken shape. In this case... there is no need to read too much without thinking."

"I agree, we must respect the market trend. The bull market cannot keep rising. Short-term market adjustments, I would say... are inevitable."

"Let's look at 3500 points first. The Shanghai Stock Index will return to 3800 points. It is basically impossible in the short term."

"Yes, we must respect the market trend. At this time, there is no need to grab the risk profit."

“It’s better to be safe at the end of the year.”

"At the end of last year, there wasn't much market activity, and it's probably the same today."

"At the end of last year, the hype for the two major concepts of 'mobile Internet' and 'smartphone industry chain' ended. When the GEM index adjusted from a high point, I feel... this year's phenomenon will be replicated on the main board. , at least for now, no matter how you analyze it, no matter what aspect you analyze it from... the chip structure of the two core main areas of 'big finance' and 'big infrastructure' has collapsed."

"Yes, I have discovered that now we cannot have too much faith in the main financial trends of the 'Yuhang Department' controlled by President Su. It is better to rely on our own judgment and analysis."

"That's for sure. What kind of cognition determines what kind of operation and final profit."

"Alas, when Mr. Su withdrew, it felt like the line of 'sub-new stocks' had also collapsed."

"The conceptual hype line of 'sub-new stocks' should also be adjusted. The two checks of 'Blue Stone Heavy Equipment' and 'Huake Suguang' have indeed been hyped too much in the past month."

"In any case, it is not suitable to open a new position recently."

"Let's wait until the Shanghai Index returns to 3500 points. I don't plan to do any trading recently."

"In fact, it's fine as long as you avoid the 'big finance', 'big infrastructure', 'military industry', 'film and television media', and 'sub-new stocks' sectors that are the hardest hit by following the trend. Apart from these mainline-related sectors, the two cities are losing money. In addition to the relatively strong money effect, other...basically there is still some money-making effect."

"But it is undeniable that the overall money-making effect of the market has really declined."

"Yes, a gentleman does not stand behind a dangerous wall. Since it is certain that the Shanghai Stock Index is likely to go back to 3500 points, it is better to try not to make any market moves before going back to the market."

"Oh, I have to say that it is really difficult to learn to short positions!"

"That's for sure. I have money in my hands, and I think short positions are torture."

“But only by learning how to short positions can we have a normal mentality to view changes in market conditions!”

"Let's take a look and see how the market will go tomorrow, and see what the market's Dragon and Tiger List data will be like tomorrow? If Mr. Su's 'Yu Hang Series' main fund product-related trading seats continue to be invisible as they are today. , then I think we can be a little more optimistic. After all, if this is the case... at least the expectations of many major institutions in the market that the Yuhang Department under the leadership of President Su will continue to reduce their positions on a large scale have obviously weakened, which means that it is caused by following the trend of selling. The market selling pressure should weaken a lot as a result, giving the market some breathing space."

"Well, let's wait until the market comes out tomorrow before deciding whether to open a position or not!"

"We still have to look at the changes in volume and energy."

"Yes, the volume of the two markets has declined today. I don't know if it can continue to remain above the trillion mark."

As the news in the group refreshes rapidly.

In all the major stock investment exchange forums, communities, and post bars on the entire network, and even in other internal groups of major hot money players, as well as internal groups of major institutional investors.

Regarding today's data on the Dragon and Tiger Rankings of the two cities, as well as speculations on the motives for the disappearance of the 'Yu Hang Department'.

He is still performing fiercely.

Many investors have released all kinds of strange conjectures.

However, no matter what kind of conjecture, it cannot change the overall investment sentiment and speculation mood of the market, which has gradually begun to be dominated by bulls and transform into shorts.

It is also unable to change the trend of the external market, which opened low and moved low in the evening.

Ultimately, within this internal and external emotional influence, as well as the interweaving of long and short emotions.

The next day, December 12, Wednesday, the two cities still showed a trend of opening lower across the board, and the 'big finance', 'big infrastructure', 'military industry', 'film and television media', and 'sub-new stocks' that attracted much attention ...and other popular main lines, as well as related popular industry sectors, concept sectors, and a number of popular stocks, have still become the market performance with the greatest selling pressure, the heaviest selling volume, and the most obvious money-losing effect in the two cities. field. (End of chapter)