The investment era of rebirth

"It's impossible." After hearing Mou Zhengxing's words, Fang Xinsheng, who had also been watching the two cities, squinted his eyes and said with a genuine smile, "The core main lines of 'big finance', 'big infrastructure' and 'military industry' have been accumulated in the early stage. Such a heavy profit margin has been released and so many hold-up positions have been released. Now, with the withdrawal of the main funds of the 'Yu Hang Group', the internal chip structure has begun to loosen.

It is far from the time when the internal chip structure is reunited or even the adjustment is completed.

Why does this become the bottom of the shock range?

If you ask me, it is probably just that the core main lines of 'big finance', 'big infrastructure' and 'military industry' have fallen too sharply and too hard in the short term, and have temporarily formed a copycat situation. It's just a counterattack from the chassis and a short-term rebound in the technical trend.

Wait until the chassis is almost consumed.

After this wave of stimulation, the rebounding sentiment gradually declined.

There is a high probability that the industry sectors and concept sector indexes related to the three core main lines of 'big finance', 'big infrastructure' and 'military industry', as well as the corresponding core weight stocks and popular leading stocks, will continue to grow rapidly as before. Continue to fall and find new support below.

Of course, the 'film and television media' sector is a bit special and exceptional.

At present, the 'film and television media' sector should be the strongest concept theme sector in the current market. However, because the market value of this concept theme sector is too small, it has little impact on the overall market trend and structure of the market. It can be said to be minimal.

Therefore, its market trend cannot change the overall market trend.

Compared with the core main lines such as 'big finance', 'big infrastructure', and 'military industry' that have rebounded across the board at this moment.

In fact, the main areas such as 'big consumption', 'mobile Internet', and 'smartphone industry chain' are showing weak performance today, as well as the 'non-ferrous cycle' and 'petrochemical industry' which have always been in a weak state and continue to dangle at the bottom. ', 'coal' and other main areas.

On the contrary, the investment risk in the short and medium term is smaller.

Of course, this does not mean that the investment risks of these core main lines are relatively small.

This shows that these core main lines are the main areas worthy of investment at present.

This is not the case. At the current stage, that is, when the market adjustment has not ended and is only in a short-term rebound, no matter which core main line is used, it is not suitable to increase positions and go long. "

"According to Mr. Fang, is the Shanghai Stock Index still unable to hold its position at 3600 points?" Mou Zhengxing asked, "And do you think that the three core main lines of 'big finance', 'big infrastructure' and 'military industry' are currently Is the trend still halfway through the adjustment phase? There is no sign of the end of the adjustment or the end of the adjustment?"

Fang Xinsheng nodded and said: "It is indeed the case. At present, there is no trace of the end of the adjustment of these core main lines of the market."

"But the buying funds in the market are very active." Mou Zhengxing said.

Fang Xinsheng responded: "Buying funds are active, which only shows that the current market sentiment is not bad. It does not mean that this is the bottom of this round of adjustment, or the end. Moreover, the market can have an obvious seesaw effect in the market, which means that this is the bottom of this round of adjustment, or the end." The buying volume is still insufficient and can only slightly take care of one aspect of the market trend."

"If 3600 points can't hold up, what about 3500 points?"

Liu Xin, the general manager of Xiniu Fund Company, walked into the main fund trading room at some unknown time and asked with a smile.

Fang Xinsheng thought for a while and said: "If you ask me, it is difficult to hold on to the 3500 point position. After all, the three core main lines of 'big finance', 'big infrastructure' and 'military industry' have accumulated gains." There are too many chips for profit and settlement, at least hundreds of billions or trillions of funds.

The size of potential selling chips at this level.

It is not possible to clean up and complete the further transformation of the chip organization in just a few days.

And this is why we still can't see the traces of the main funds of the 'Yu Hang Series' once again building long positions, because as the smartest main funds in the market, the funds of the 'Yu Hang Series' know very well that at this time, they will definitely It is not time for the market correction to end.

So, my advice is...

At this time, we must not be anxious or be affected by the short-term rebound trend of the market.

You must maintain enough patience and wait until the market adjustment is truly over before re-opening a position to get your chips back. This is a sound investment strategy and trading strategy.

At least... in any case, the only way to buy is to see the funds of the 'Yu Hang Group' appear in the buying seats on the dragon and tiger lists of the two cities again, or to clarify the buying traces of this fund on the market. The most secure. "

"What if our judgment is wrong and the index does not continue to fall at 3600 points?" Mou Zhengxing said, "If the index continues to rise, then we will be short."

Fang Xinsheng smiled and said: "Do you think it's more uncomfortable to be on a plane or to lose money?"

"It must be uncomfortable to lose money." Liu Xin said, "After all, if you go short, you don't lose money, you just lose opportunities. If you lose money by holding a position, you will continue to lose money and lose opportunity costs."

Fang Xinsheng nodded and said: "That's the truth, so if we make a mistake in judgment, we can miss up to 200 points at most. There is nothing to be afraid of. There is no chance of entry on the left side. After making a mistake in judgment, the entry on the right side will Opportunities always exist, right? If that's the case, then we just take the opportunity on the right side."

"I really can't see that the core main lines of 'big finance', 'big infrastructure' and 'military industry' still have the risk of continuing to plummet." Mou Zhengxing said, "The related industry sectors and concept sectors of these core main lines , as well as many popular stocks and heavyweight stocks. At present, technically, their moving averages have touched the 20-day line. It stands to reason... that there will be an obvious supporting effect near the 20-day line. "

Fang Xinsheng said: "Technical aspects have a certain effect, but the effect is not too big. In the end, it must be considered in combination with its chip structure, as well as the overall news, emotions, fundamentals and other comprehensive conditions. It cannot be considered alone. Look at the technical trend pattern, otherwise it’s fortune telling.”

"That's the truth." Liu Xin said, "But it's still hard to imagine a situation where 3500 points cannot be sustained. After all... At present, although the market's long power is not particularly strong, the Shanghai Index is at 3600 points. The position has been lingering for several trading days. It really doesn’t look like it has no support, and... In fact, the core main lines of 'big finance', 'big infrastructure' and 'military industry', in addition to the chip structure Apart from the confusion, there should be no problem in terms of short- and medium-term expectations, medium- and long-term underlying investment logic, and expectations of macro policy directions... right?

Since these various expected factors have not changed much from before.

So, logically speaking, the extent of the decline should be very limited.

After all, as long as there is expected support, there are corresponding fundamental reversal expectations, and there are strong enough policy expectations, then there will be continued bottom-hunting funds to take over. In this way... the transformation of the chip structure is actually very fast. I Do you think that the core main lines of 'big finance', 'big infrastructure' and 'military industry' will completely collapse after the main funds of the 'Yu Hang Group' reduce their positions and leave the market.

Moreover, judging from the rebound trend and strength of the core main lines of 'big finance', 'big infrastructure' and 'military industry' today.

Even if the entry is short-term bargaining funds and numerous speculative funds.

But the intensity on the board is really not weak.

With such a pattern and trend, such a change in quantity and energy, it seems that it will not take too long to complete the transformation of the internal chip structure. Therefore, I think there is a high probability that 3600 points will not be sustained.

But there is still a high probability that the 3500 point level can be sustained, right? "

"I agree with General Manager Liu's point of view." Mou Zhengxing said, "And Manager Fang just said that the 'film and television media' line is already the strongest core line in the two cities. So... can we... , how about establishing a part of the position first and waiting for the opportunity?”

See the current market trends.

Mou Zhengxing was a little afraid of missing out, so he just made this suggestion.

Fang Xinsheng thought about it for a while, and originally refused to add to the long position at this position, but he took a look at the expressions of Liu Xin and Mou Zhengxing and knew that they were still a little worried about the low positions of the company's two main fund products. , and he said it more than once.

It means that although the market is in a downward correction trend.

However, the overall bull market structure of the market and the underlying logic of the bull market remain unchanged.

In this case, it is natural to worry about missing something.

"Okay." After thinking for a while, Fang Xinsheng responded, "At this stage, I agree to increase some chips in the main direction of 'film and television media', but in terms of the overall position level of our two main fund products, I I still think...it’s better not to exceed 30%.”

He guessed that the 'Yu Hang Group' was the smartest main force in the market.

The current main fund positions are definitely very low.

And he still insists that the Shanghai Stock Index will not only be unable to support 3500 points, but also has a high probability of being unable to support 3400 points and 3300 points.

If it is as he expected...

In the next few days, the Shanghai Stock Index will continue to fall. If it touches 3400 points and 3300 points, there will be a lot of room for adjustment.

Once their positions are overweight, they will suffer heavy losses and retracements.

This is more of a loss than a gain.

There is also the line of 'film and television media'. Although the short-term expectations are sufficient and there is also the expected support of a comprehensive reversal in fundamentals, the impact on the overall market trend is too small.

It is said that there are no eggs left behind when the nest is overturned.

He is also more worried that if the position in the core line of 'film and television media' is too heavy, he is afraid that it will be difficult to withdraw at that time. Not only will he not make much profit, but he will also lose capital.

Seeing that Fang Xinsheng agreed to increase his position on the main concept theme of 'film and television media'.

Mou Zhengxing and Liu Xin were somewhat happy.

As Mou Zhengxing nodded, he began to implement the investment strategy and corresponding trading strategy mentioned by Fang Xinsheng.

At this time, the trading time of the two cities has already reached around 10:40.

While the three people were discussing the market conditions, in the past ten minutes or so, the market prices of the two cities continued to rebound under the leadership of several core themes such as 'big finance', 'big infrastructure', and 'military industry'. , among them, the growth rates of the 'Securities', 'Internet Finance', and 'National Defense Industry' sector indices have rebounded to close to a 3% increase at this moment, showing a vigorous rebound and upward trend.

Of course, the concept theme of 'film and television media' that has attracted much attention, as well as its related industry sectors.

At this moment, it still maintains a strong rebound trend.

The 'Film and Television Media' industry sector still occupies the top five positions in the two cities' industry sector growth lists, while 'Internet Online Education', 'Mobile Games', 'Film and Television Production', 'Celebrity Shareholding', and 'Celebrity Indirect Shareholding' Other related theme sectors are also at the forefront of the growth lists of conceptual theme sectors in the two cities.

At the same time, with the continuous rebound of the core main lines of 'big finance', 'big infrastructure', 'military industry' and 'film and television media'.

At this time, the main lines of 'big consumption', 'mobile Internet' and 'smartphone industry chain' were originally weak.

They all began to rise in concentration.

Although there is a gap between the trend of related industry sectors and concept sectors in these main line fields and the trend of industry sectors and concept sectors in core main fields such as 'big finance', 'big infrastructure', and 'military industry', and there is a gap in the market growth, but Judging from the overall market trend pattern.

Under the continuous action of copying the chassis and taking over the disk.

At this moment, the two cities still have a slight overall reversal and are concentrated on a general upward trend.

Especially when the trading hours of the two cities entered 11 a.m., this general upward trend became more obvious.

However, with the help of numerous funds.

When the trading time of the two cities approaches the midday close.

The general rise in the two cities suddenly began to diverge again.

That is, the core main lines of 'big finance', 'big infrastructure', and 'military industry', as well as their related industry sectors, conceptual theme sectors, as well as a number of core stocks and popular stocks, suddenly encountered a relatively heavy wave of concentration again. Selling and the corresponding market trend have all fallen back.

And the industry sectors and concept sectors related to the core main lines of 'big consumption', 'mobile Internet', and 'smartphone industry chain', which originally lagged behind these core main lines, as well as a number of popular stocks and core weight stocks, On the contrary, at this moment, there was a lot of concentrated buying.

It seems that in an instant, these main lines with distinct strengths and weaknesses have signs of transformation and switching. (End of chapter)