Rebirth of the investment era

"From reality to fiction..."

Su Yu browsed through the opinions debated on the financial forum, smiled, and said to himself: "There is a certain truth to it, but at this time, when the market is chasing the high point of the GEM sentiment, publicly singing the long GEM index seems It’s really out of place.”

In Su Yu's view, although the future expectations of many core stocks on the GEM are much clearer than the so-called blue chip stocks and blue chip stocks on the main board, they also need to be anchored by valuation. In other words, the overall valuation of the GEM is impossible. It is too far away from the main board and the average valuation of the entire market.

At this moment, the scissor difference between the GEM and the main board has increased enough.

Moreover, among the GEM constituent stocks, the dozen or so core popular stocks with the strongest future expectations, the highest investor attention, and the deepest involvement of big funds from all walks of life have basically risen from 1 to 1 in 4 months since March. Double the range, that is to say, its stock price has reflected future expectations.

There is no new positive follow-up and no corresponding performance increase to fulfill expectations.

Especially when the overall average valuation of the two cities has not improved significantly, and the entire market is still a game of stocks, if these popular stocks want to continue to rise independently and go out of a "March to July" market, basically It's impossible to go up...

in other words……

Without the support of incremental funds, while the Shanghai Stock Exchange Index remains motionless, the ChiNext Index is at more than 1,200 points, and there is not much room to continue to move upward.

In fact, the current emotional response of the entire market also illustrates this point in disguise.

Whether it is a long-term trend market or a short-term speculation market, as long as the sentiment reaches an extreme climax and the expectations of the entire market begin to become quite consistent and highly consistent, then the market should be over, or the market is about to make a sharp correction, and big funds It’s time to start taking profits and readjust the chip structure on the market.

"Mr. Su..."

While Su Yu was deep in thought, Li Meng tilted his head and said, "Today, the market trend has changed a bit quickly. In strategic analysis, many securities firms have begun to be optimistic about the direction of GEM, such as 'mobile games' and 'Internet finance'. , 'smart wearable devices', 'mobile payment' and other fields of investment, as if..."

"It seems like a spring breeze came overnight, right?" Su Yu smiled and replied, "Institutions have always invested on the right side. This is normal, but... today's market sentiment, on many core popular concepts of the GEM, There are indeed signs of overheating, and I think many popular stocks are about to build a short-term top range."

Li Meng heard this and asked: "In other words... we need to gradually reduce our holdings of targets with excessive short-term gains and withdraw some funds, right?"

"Yes!" Su Yu nodded, "Starting from tomorrow, the more it goes up, the more it goes down. Fenda Technology, Wangsu Technology, Huaqingbao, LeTV, etc. have experienced great growth recently and have been affected by the funds of many institutions in the market. The stocks that we are strongly paying attention to will gradually reduce to about 60% of the current positions, and then wait for the next adjustment, and then add back the reduced positions at low prices."

For these tickets…

The current stock price reflects expectations, but its long-term future expectations are still positive.

In other words, the long-term logic supporting the stock price has not changed, but the short-term increase in the stock price has been too large, and the expected changes have not kept up with the increase in the stock price, resulting in a huge demand for a retracement of the stock price in the short term.

Therefore, Su Yu was strategic.

We do not plan to completely reduce our holdings in these stocks, but we plan to first reduce them to a suitable position that can be advanced and attacked and retreated and defended, and then look for opportunities to move.

"Okay!" Li Meng responded and wrote down this matter.

She also believes that the current investment sentiment in these popular stocks is a bit overheated, and with huge short-term gains, there is the possibility of a sharp correction.

"Oh, right……"

Li Meng paused and continued: "I have looked through various discussion topics on the Internet and various news on the financial network, but I still haven't seen anyone mentioning the 'Shanghai Free Trade Zone'. There is not even a trace of comments or rumors, and since we completed the establishment of positions in Waigaoqiao, Lujiazui, Shanghai Stock Exchange, Shanghai-Hong Kong Group, Pudong Jinqiao, Jinjiang Investment... these stocks, we have not seen any for so long. Big funds have taken care of and raised funds for these stocks. I think we are too sensitive about this matter. In fact..."

"Wait a moment!" Su Yu interrupted Li Meng, "These stocks themselves have not fallen much during this period. We are lurking in them, and the losses are not large. Regardless of the cost of holding positions or the cost of time, they have not fallen much. It’s acceptable. If there’s still no movement after another week or two, you can retreat.”

Development according to historical trajectory.

Su Yu estimated that after entering August, within a week at the latest, many institutions and major financial players who have obtained a little bit of inside information should take action.

"Okay!" Li Meng responded softly.

She actually didn't have much hope for this matter.

It's just that Su Yu insisted again and again, and the fund's position in this arrangement did not result in much loss. The losses were only some time costs and opportunity costs, so there was no need for her to continue to firmly oppose it.

While the two were discussing, 5:30 pm arrived, and the new dragon and tiger list was refreshed.

Shanghai Steel Union and Hua Ke Financial have appeared on the list one after another. Among the remaining popular GEM stocks, Hua Qingbao, Changqu Technology and Fenda Technology have also appeared on the list.

"Shanghai Steel Federation, the main seal of Hongqiao Road in Shanghai is today!"

After seeing the Shanghai Steel Federation's refreshed Dragon and Tiger list, some investors who paid attention to this check sighed: "After Hongqiao Road left the market the day before yesterday, I didn't expect that it would come back after chasing higher today, and the main buyers of this channel's funds today The amount is larger than what he sold the day before yesterday.”

"To be honest, this Dragon and Tiger List is a bit surprising!"

"The return of Hongqiao Road proves that Hongqiao Road believes that the market situation of Shanghai Steel Federation is far from over!"

"It's a good thing that Hongqiao Road is closed. The funds on this road are not very fond of selling, and although the pattern is far inferior to that of Fortune Road, it can be regarded as the main capital in the market that has both strength and pattern."

"Neither Fortune Road nor Shaoxing Branch of Zheshang Securities appeared on the Dragon and Tiger list today. Is this a lock-in?"

"It was expected that Fortune Road would lock up, but I didn't expect that even one share of Shaoxing Branch's funds, worth more than 48 million yuan, would not be released."

"Does this mean that Shaoxing Branch is indeed another related seat on Fortune Road?"

"It should be the related seat, but I'm not sure if the Shaoxing branch is being operated by Fortune Road himself?"

"That shouldn't be the case. After all, Shaoxing Branch has appeared on the Dragon Tiger List many times before Fortune Road, and this guy has never collaborated with Fortune Road before. I guess it's just this time, right?"

"In any case, it is a good thing for the two big guys to lock up their positions together."

"Yes, Fortune Road is locked up, and I feel at ease. This proves that Shanghai Steel Federation can continue to hold it, and... I believe that the 50 yuan mark will inevitably be stepped on by Shanghai Steel Federation."

"Although Fortune Road did not appear on the Dragon and Tiger list today, Fusheng Road did. If you look at the following stocks of Shanghai Steel Union, it is the Dragon and Tiger list data of Huake Financial. Fusheng Road is doing T on Huake Financial. , this should also show that Fortune Road is still optimistic about the follow-up trend of Shanghai Steel Union, right?"

"Haha...it's true!"

"How come the Fusheng Road and Wealth Road are no longer linked to the same stock?"

"I don't know, but according to the previous Dragon and Tiger ranking data, these two seats are definitely operated by the same person, because the consistency is too strong."

"Wealth Road and Shaoxing Branch are locked, Fusheng Road is T, Hongqiao Road is the main seal, plus Fenda Technology and Changqu Technology are on the dragon and tiger list, there are three institutional seats at the same time... Tomorrow's market, There should be no need to worry too much, the Shanghai Steel Union can definitely still stay on the board, and the GEM is definitely still the index sector with the strongest money-making effect in the two cities."

"That's for sure. Judging from the Dragon and Tiger List, hot money tycoons are obviously more concentrated on the core popular stocks on the GEM. On the contrary, on the main board, the stocks on the list have very poor ability to undertake, even if they are good Among the stocks that have resumed trading, there is basically no hot money that is too strong to appear on the list.”

"The GEM has reached a new high for the year today. If there is no hold-up pressure in the future, it will definitely go smoother."

"Well, if the GEM is above 1,200 points, there is indeed no lockup."

"The key is that institutions have begun to be optimistic about the market of GEM. Coupled with the speculation of hot money, GEM now has more than 200 stocks in total. It is difficult for the index not to rise. Moreover, in the context that IPO cannot be restarted, GEM and other stocks Stocks in emerging industries are scarce, and I think there will be no problem if the GEM Index catches up with the Shanghai Stock Exchange."

"Yes, it's really no longer possible to still hold on to the old ideas and rely on the big guys on the main board to speculate in stocks."

In the discussion of the Dragon and Tiger List data among the retail investors in the market, the topic gradually shifted to a mindless bullish view on the subsequent market trends of the GEM, as well as many core popular stocks and core popular sectors.

And amidst this high emotion...

The next day, Thursday, August 1, the most popular core GEM stocks such as Shanghai Steel Union, Huake Financial, Tianyu Information, Huaqingbao, Changqu Technology, Fenda Technology, and Internet Speed ​​Technology... At the beginning of the call auction, stocks were rushed by a large amount of funds and opened sharply higher.

Among them, Shanghai Steel Union actually opened at the daily limit, with its stock price quoted at 48.21 yuan, an increase of 9.99%.

"One word daily limit?"

Su Yu stared at the call auction board of the Shanghai Steel Union, which had a highly consistent sentiment, and was very surprised: "The initial 11,000 orders were closed. This is more intense than I expected based on the sentiment consistency!"

"However, if we want to continue our vitality and reach a certain height, we cannot shrink here."

Thinking of this, Su Yu immediately placed a sell order of 10,000 lots at the price of 7% increase, which was 46.90 yuan. He suppressed his emotions and prepared to open the one-word daily limit situation and push down the stock price, deliberately using his emotions. High points, creating some disagreement.

After all, it is only August 1, and there are still almost ten trading days before the main line of the ‘Shanghai Free Trade Zone’ appears.

As for the Shanghai Steel Union's market trend, before any new major positive news is announced, it is necessary to persist until the main line of the "Shanghai Free Trade Zone" emerges.

At this point in time, we cannot shrink and accelerate, and directly exhaust our emotions in one wave.

According to Su Yu's trading idea, he wanted to fully disclose the news about the Shanghai Steel Union's market to the "Shanghai Free Trade Zone", seek maximum benefits from this stock, and at the same time borrow the "Shanghai Free Trade Zone" 'This magnificent macro-hype main line comes to ship.

So, at this time...

He is determined not to let Shanghai Steel Union shrink in volume, and then form a bargaining chip, directly exhausting his emotions in a wave, and get out of the irreversible top situation of huge volume.

With his 10,000 sell orders, they appeared on the call auction board of Shanghai Steel Union.

I saw that the 11,000 orders that had originally sealed the daily limit were suddenly reduced to 892 hands, and the call auction of 48.21 yuan to match the transaction orders suddenly increased from the initial 315 hands to 11,436 hands.

Subsequently, countless people withdrew their orders.

In just 5 seconds, the one-line daily limit pattern of Shanghai Steel Union was destroyed, and its stock price also plummeted from 48.21 yuan to 46.89 yuan, an increase of 6.99%, and the matching transaction order also dropped from 48.21 yuan. 11,436 hands, changed to 1,512 hands, and above 46.89 yuan, 10,211 main sell orders turned out to suppress the market, blocking the upward bidding of Shanghai Steel Union's stock price.

9:16, 9:17, 9:18...

Su Yu did not cancel the order, but still allowed 10,000 orders to be placed at the price of 46.90 yuan.

At this stage, the stock price of Shanghai Steel Union has fallen step by step to 46.63 yuan, an increase of 6.42%. The number of matched transactions in the call auction has also increased from more than 1,500 lots to more than 2,700 lots, and the previous main seller Suppression has become the main buying support.

Below 46.63 yuan, a main buying order of 3,100 lots appeared.

Then, when the time entered 9:19, when everyone realized that there was a strong support order below, many funds began to bid upward again.

46.63 yuan, 46.73 yuan, 46.83 yuan...

In the last fifteen seconds of 9:19, the stock price of Shanghai Steel Union once again touched 46.89 yuan. Su Yu's 10,000-lot order placed at 46.90 yuan was once again exposed on the market.

"Will the order be cancelled?"

When seeing the 46.90 yuan position, the 10,000-hand pressure order appeared again. All investors paying attention to the market of Shanghai Steel Union had the same question in their hearts, because whether these 10,000 orders are withdrawn or not will directly affect the next step of Shanghai Steel Union. The collective bidding trend and the overall sentiment change in the market.

9:19:47, 9:19:50, 9:19:52...

When the hearts of many investors were in their throats, when the collective bidding of the Shanghai Steel Union quickly surged to more than 4,600 lots, when 9:20 was about to arrive.

In everyone's field of vision, the 10,000 orders that were standing across the market, preventing Shanghai Steel Union's stock price from continuing to move upward, and upward bidding, finally disappeared.

Then, the time reached 9:20, and the call auction time for irrevocable orders began.

The stock price of Shanghai Steel Union lost its resistance and jumped over the 47 yuan mark in an instant.