The investment era of rebirth

"Even so, but..." Zhou Qiang said, "While we keep the current strategy unchanged, the main funds of other parties and similar institutional groups are currently reducing positions on a large scale and taking profits to control the drawdown. In this way... It is very detrimental to our performance ranking at the end of the year.

And if our ranking in the industry drops significantly.

This will also cause problems for next year's business development and the issuance of new fund products. "

Gong Tiancheng thought for a while and said: "It is not a good thing to blindly take the initiative to rank. We... still need to deepen our investment research capabilities and not put too much energy on trading operations. I believe that as long as we If our fund products can continue to outperform the market in terms of long-term performance and achieve sustainable development, then investors will naturally continue to trust us and be willing to hand over their money to our management.

You, you have to believe in the eyes of the masses.

Everyone will be responsible for their own principal.

I believe investors know what is a good fund product and what is a fund product worthy of long-term investment.

Therefore, we don’t need to care too much about performance rankings in the industry.

Those that can win the Golden Bull Award are not necessarily long-term fund products worthy of long-term investment, and those that cannot win the Golden Bull Award are not necessarily junk fund products that cannot be invested in.

Short-term industry fund performance rankings cannot be used to easily determine the quality of a fund product.

and the investment capabilities of a fund manager. "

"Okay!" Seeing that the boss insisted, Zhou Qiang had nothing more to say. He paused briefly and then turned his attention back to the market of the two cities.

I only saw it during the time period when the two people were discussing.

The trading time of the two cities has entered 2 o'clock in the afternoon.

As the trading time entered 2 o'clock in the afternoon, the market trend of the entire market changed instantly.

It can be seen that in the past period of time, the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index, and ChiNext Index, which rebounded rapidly, encountered strong market resistance, and they all turned around again and fell back in shock.

At the same time, the three main lines are 'big finance', 'big infrastructure' and 'military industry'.

After a rapid rebound just now, it has now fallen back and swallowed up all the rebound gains on the market, showing a sharp decline again.

Even the main line areas of 'big consumption', 'mobile Internet' and 'smartphone industry chain' have rebounded strongly.

At this moment, it is as if it has lost the support of the market and continues to fluctuate and fall rapidly.

"Eh... it's poisonous. According to this trend, I feel that the Shanghai stock index cannot hold up at 3600 points!" At 2:05, seeing the market trends of the two cities, the whole market collapsed and plummeted again, Magic City, inside Yinghui Fund Company In the 'Yinghui No. 2' fund product trading room, fund manager Shao Xiaoyun frowned visibly again and complained helplessly, "I feel that the market conditions in the two markets have lost the lock-up support of the main funds of the 'Yuhang Department'. , It’s like losing its soul. The main funds of all walks of life can’t find a direction to break through, and they can’t achieve a consistent drive of market sentiment. They can only passively be smashed by the majority of follow-up orders, and follow the reduction of positions and sell-offs to escape the market.”

Since the day before yesterday, the main capital of the 'Yu Hang Group' has appeared on a large scale in the selling seats of the Dragon and Tiger Lists in the two cities.

The market trend of the two cities is a weakness visible to the naked eye.

This made him unable to understand, and at the same time he was greatly shocked.

According to his previous expectations, he believes that the main funds of the 'Yu Hang Group' will reduce positions and stop profits in popular main areas such as 'big finance', 'big infrastructure', and 'military industry', which will affect the market conditions of the two cities to a certain extent. trend, and attracted many market follow-up funds to sell off.

But he never expected that the 'Yu Hang Group', the main force of funds, would reduce its positions on a large scale.

The market impact will be so great.

It will directly bring down the market trend of the three main lines of 'big finance', 'big infrastructure' and 'military industry', and trigger continued panic selling in the market.

Originally, he thought that the Shanghai Stock Index could be adjusted to the 3600-point line at most, and that would be enough.

But look now...

It is obvious that the panic selling situation in the two markets has not abated, but has become more and more intense.

With such a market shape, it didn't look like it could hold on to 3600 points. He was beginning to be unsure whether the 3500 points below or even the lower 3300 points could hold up.

After all, the current main force of the 'Yu Hang Group' has appeared on the Dragon and Tiger List to sell seats on a large scale.

Only three short days have passed.

In just these three days, the Shanghai Stock Exchange Index has fallen by more than 200 points.

The speed and sustained intensity of such a plunge were completely beyond his psychological expectations. Of course... it also exceeded the expectations of most of the major bullish institutions in the market.

"The Shanghai Composite Index is obviously unsustainable at 3600 points." While Shao Xiaoyun was speaking, Liu Changling, the trading team leader who was sitting next to him and had been paying attention to the market trends of the two cities and the major core market trends, said, "'Big Finance' , 'big infrastructure', and 'military industry', several popular core main lines, have formed substantial strong selling pressure, and the overall chip structure has been completely loosened.

In other words, the internal profit taking and floating chip selling of these core main lines.

It cannot stop until its chip structure is completely adjusted.

And this is the key moment...

In terms of other core main lines in the two cities, there are no relatively popular and large core main lines with strong investment logic and future expectations to replace the "big finance", "big infrastructure" and "military industry". The market trend of the popular main line is achieved, thereby completing the rotation and switching of the market trend on the core main line market.

In other words, the core driving force supporting the upward trend of the market is temporarily gone.

In this case, how could the market not fall under the concentrated selling pressure of early profit taking and settlement?

No matter where the final index point of this wave of adjustment is, at least for now... the market's overall downward momentum is still very strong, and the adjustment has not yet ended.

Moreover, it can basically be determined.

At this time, it should still be in the early stages of market adjustment.

Therefore, our investment strategy and trading strategy at this time must be more conservative. We must further reduce our position levels and further reduce our holdings in the areas of 'big finance', 'big infrastructure' and 'military industry'. Only chips in several core main line areas are enough!

Only in this way can we preserve the fruits of our previous victories as much as possible.

Control the current net value drawdown of our fund products. " Shao Xiaoyun heard Liu Changling's insights on the market and saw the two cities' continued rapid decline. He nodded slightly and responded: "We still underestimated the impact of the main funds of the 'Yu Hang Group' on the market trend. Influence, this fund is indeed the legendary main fund in the two cities, like the Dinghai Shenzhen. Its every move is linked to the nerves of the market. "

"Actually... it's not the 'Yu Hang Group', the main force of funds, that has too much influence on market trends." Liu Changling said, "It's still the case that everyone previously thought about 'big finance', 'big infrastructure' and 'military industry'. The pursuit of the three core market trends has been too aggressive, which has led to an obvious overdraft of expectations for these three major market trends in the short and medium term. This is the main reason.

I guess the 'Yuhang Department' is the main source of funds.

The reason for the large-scale reduction of positions in the three main lines of 'big finance', 'big infrastructure' and 'military industry'.

It's also because I saw this.

Of course, this does not mean that the basic investment logic of the three core main lines of 'big finance', 'big infrastructure' and 'military industry' has been shaken.

At present, the long-term investment logic of these three core main lines is still in place.

And the expectations for fundamental changes have not changed much compared to before.

It is simply that the stock price rose too much in the early stage, and the good news happened to run out, and there was too much floating capital for profit taking and settlement, so the current continuous adjustment trend was formed. "

"Yeah!" Shao Xiaoyun nodded, "I quite agree with the logic you mentioned. I have to say that the 'Yu Hang Group', the main force of funds, is quite good at analyzing the shape of the main market trend, and its selling points are really good. It’s quite accurate, but it’s a pity that it’s too big and there are too many followers.”

"There is no way around this." Liu Changling said, "Now every move of the 'Yu Hang Group', the main force of funds, has basically become an amplifier of market sentiment.

However, according to the data of the Dragon and Tiger rankings of the two cities yesterday.

The main force of the 'Yu Hang Group' is trying to avoid the data from the two cities' dragon and tiger rankings when it comes to trading.

If I guess correctly...

The day before yesterday, the large-scale appearance of this fund on the dragon and tiger lists of the two cities should be the last large-scale reduction of positions by this fund. "

"You mean, the day before yesterday, this main force of funds had already completed the investment strategy of reducing positions and taking profits on a large scale?" Shao Xiaoyun said, "That is really unimaginable."

"Indeed." Liu Changling said, "It is indeed unimaginable, but apart from this explanation, there is no other explanation that can explain the sudden large-scale appearance of the main funds of the 'Yu Hang Group' in the two cities' dragon and tiger lists to sell seats. This is a phenomenon. After all, if they have not completed the corresponding trading strategy and investment strategy, and they have a strong motivation to reduce their positions and take profits, then they should be most afraid of appearing on the selling seats of the Dragon and Tiger List, thus triggering follow-up orders. After all, This is not conducive to the implementation of their position reduction and profit-taking strategies, and it also goes against the various trading strategies that this main force has used before.

In fact, according to the dragon and tiger lists of the two cities yesterday, it is only guessed that the main funds of the 'Yu Hang Group' suddenly disappeared again.

It is also possible to reach the conclusion I just mentioned.

Moreover, I believe that my conclusion will follow the subsequent development of the market in the two cities.

It should also be recognized by more major financial groups in the market, and everyone should gradually realize this.

In other words, in fact, the market's panic-stricken situation is temporary. When it becomes clear that there is no need to worry about the "Yu Hang Group", the main force's large-scale reduction of positions, which will continue to suppress the market trend. , the market trend should slowly stabilize.

Of course, even if it slowly stabilizes.

It cannot be said that the market adjustment is over.

According to the current technical trend pattern, it is very likely that under extreme circumstances, the Shanghai Stock Exchange Index will drop to 3000 points, once again confirming the establishment of the basic logic of the bull market. "

"Testing 3000 points again?" Shao Xiaoyun was startled and said, "If the Shanghai Stock Index really wants to test the support of 3000 points again, then the time period of this round of adjustment will not be short, and the market's emotional situation of bulls and bears, I am afraid that great changes will occur during this period of adjustment.”

"Yeah!" Liu Changling nodded and said, "I think so too."

Shao Xiaoyun continued to ponder for a while and said: "Well, no matter where the final index point of the next market adjustment will be, at least according to what you said, we have to respect the trend. Since the Shanghai Stock Index obviously cannot hold up at 3600 points, then Let’s continue to reduce our positions, further reduce the fund’s positions, and reduce our positions to a truly safe area, so that no matter how the market falls or adjusts, we don’t have to be afraid.”

"Okay!" Liu Changling responded.

Immediately, he quickly ordered the traders in the trading room to further quickly reduce positions and take profits according to the previous trading strategy, and reduce the positions of fund products in the three core main areas of 'big finance', 'big infrastructure' and 'military industry'.

With the 'Yinghui No. 2' fund product, the trading strategy of reducing positions and taking profits continues.

The trend pattern of the two markets continues to deteriorate.

Especially after 2:30.

The Shanghai Stock Index fell below 3600 points almost without resistance... once again.

A number of popular industry sectors and concept sectors in the three main areas of 'big finance', 'big infrastructure' and 'military industry' also set off a trend of bottom-down trends in the last half hour of late trading.

Finally, when 3 o'clock in the afternoon came, the two markets ushered in the closing time.

I saw that the Shanghai Stock Index still closed down at 2.62%, completely falling below the 3600-point mark, and almost closing at the lowest point of the day.

The two major indexes, the Shenzhen Stock Exchange Index and the ChiNext Index, also fell by more than 2% during the day.

As for the A50 index, the intraday decline reached 3.79%, completely changing from the strongest index in the two cities to the weakest index.

In addition to the performance of the core main lines of the two cities except the index.

Today, whether it is 'big finance', 'big infrastructure', 'military industry', 'film and television media', 'sub-new stocks' and other popular main areas, or 'big consumption', 'medicine', 'mobile Internet', 'smartphone industry' Chain', 'Colored Cycle', etc. are relatively defensive and are in relatively low main line areas.

All showed an obvious trend of sharp decline.

Moreover, the daily net outflow of main funds from the two cities once again reached a scale of more than 200 billion.

Faced with the continuous plummeting trend of the major indexes in the two cities, as well as the trend of the entire main line of 'big finance', 'big infrastructure', 'military industry', and 'sub-new stocks', countless investor groups inside and outside the market , the originally fiery bull market longing heart has gradually cooled down.

The bullish sentiment in the entire market is declining rapidly and is beginning to be completely suppressed by the rapidly growing short sentiment! (End of chapter)