Rebirth of the investment era

"The main seller of Fortune Road is worth 500 million, it will be over tomorrow!"

Market investors who had all their positions gathered on the two main lines of 'mobile Internet' and 'smartphone industry chain' were filled with panic at this moment.

"What are you afraid of? According to the position data released by the 'Yuhang No. 1' fund some time ago, Wealth Road holds positions of at least 3 billion in chips on the two main lines of 'mobile Internet' and 'smartphone industry chain'. It’s only sold for more than 500 million yuan, which is not a violent liquidation at all, but a reduction of 10% or 20% at most.”

"Yes, yes, these more than 500 million are nothing to Fortune Road."

"Sell on the Fortune Road and buy on the Recovery Road. This super main force in the market is not bearish on the market, right?"

"Reducing positions by 10% or 20% is naturally not considered bearish. To verify whether Wealth Road is really bearish on the market and bearish on the two main lines of 'mobile Internet' and 'smartphone industry chain', we have to look at tomorrow's dragon and tiger." Chart data, if Fortune Road continues to sell in the future, then you should pay attention.”

"But this should also be a signal to reduce positions, right?"

"Indeed, although Fortune Road is not completely bearish on the market, this large-scale reduction of positions should also indicate that Fortune Road judges that there will be a big adjustment in the market in the future."

"Even if there are adjustments, it should still be benign, right?"

"That's for sure... I estimate that the index will go back to the 20-day line at most, or the 30-day line will be about the same."

"To be honest, the two main lines of 'mobile Internet' and 'smartphone industry chain' have been rising a little too fast recently. It would be good to adjust and consolidate!"

"Looking at Fortune Road's news today, while selling popular stocks with core concepts such as 'mobile Internet', 'smartphone industry chain' and 'restructuring backdoor', I used Fusheng Road to buy Potential Hengxin. This should be It is this main force of funds that is optimistic that when the market is adjusting on several major lines, the petrochemical sector will be able to take over the market, and there will be a relatively obvious opportunity, right?"

"But Fusheng Road only bought more than 20 million yuan. Compared with the more than 500 million yuan sold on Fortune Road, it is not worth mentioning!"

“It doesn’t matter how much money you buy, the key is your attitude and direction.”

"However, the petrochemical sector has no room for imagination and the ability to explode in expected future performance. What's more, there are still two barrels of oil in this sector. Who can pull it up?"

"It's okay if you can't see the logic. If we can also guess the main force's thoughts, then we are the main force in the market!"

"Never mind it, just follow the trend without thinking and try to build your potential and trust tomorrow."

"Hey, when I first looked at the Dragon and Tiger List, I was really shocked when I saw so many chips sold on Fortune Road. But now... after listening to everyone's analysis, I finally feel reassured. Yes, more than 500 million yuan was sold. , compared with Fortune Road’s holdings of at least 3 billion, it’s nothing at all, not to mention, when you sell, you are still buying, bull market, bull market... I still believe that the current market is a bull market!”

"Even if more than 500 million are sold, the two main lines of wealth are 'mobile Internet' and 'smartphone industry chain', which are still absolutely heavy positions. As long as the general direction of the bull market and the general trend have not changed, there will be a healthy adjustment..." I'm too lazy to move. At most, I will use a small position tomorrow to hit the daily limit of potential and trust."

"Same thinking, I estimate that Fortune Road should have been passively smashed in the late trading today."

"On the two main lines of 'mobile Internet' and 'smartphone industry chain', whether it is the future imagination space or the benefits of explosive performance, they are still there. What is there to be afraid of?"

"After another day of observation, I estimate that Fortune Road will not continue to lighten its positions."

"Although I am still optimistic about the bull market, since Fortune Road appears on the Dragon and Tiger list, I will temporarily exit the market tomorrow in accordance with the discipline. I will come back when the index reaches the 5-day line. This way, although it is possible It will lead to a short period of the market, but it also eliminates some risks."

Everyone was having a heated discussion about the data on the Dragon and Tiger Rankings.

After the initial panic and fright, compared with the market's repeated counter-guarantees, the current market trend is still there, and the technical situation has not completely deteriorated, everyone's minds have gradually settled down, and confidence in the bull market has been restored, and from then on From various angles, it is far-fetched to analyze that Fortune Road’s today’s reduction of positions is actually a disguised form of optimism about the market, freeing up more funds and positions to replace new stocks.

Moreover... everyone also analyzed the overall holdings of the 'Yuhang No. 1' fund.

Still at an extremely high water mark.

I found various reasons for reducing my position on Fortune Road, and then used these reasons to numb and convince myself.

"Sure enough, as the market trend continues, once the thinking of retail investors is solidified, when there is a clear signal of market change, very few people can follow the discipline, change their thinking, and exit immediately." At this moment in the Shenzhen market, Xin In the trading room of Niu Fund Company, fund manager Fang Xinsheng browsed through the Internet and discussed the topic of 'Large-scale reduction of positions on the road to wealth on the Dragon and Tiger List', and couldn't help but sigh, "Such an obvious signal, and Wealth Road has been publicly listed on the Dragon and Tiger list. Unexpectedly, the vast majority of retail investors in the market still hold on to the illusion of a bull market and the hope that the market can hit 2,500 points or even 3,000 points without any obstacles in the future. I still dream that Huaqingbao can hit the 100 yuan mark, and Internet speed technology can hit the market value of 100 billion, I really don’t know what to say!”

"Under the continuous money-making effect, people's greed is always endless." Liu Xin, general manager of Xiniu Fund, said with a smile, "After people make money, they often think that they can still make more money and think that the index will rise. Since all previous declines have been reversed, I naturally believe that this time will be no exception."

"At this time, greed has eroded the hearts of most investors."

“Even with Fortune Road’s market influence, it cannot shake the greed in everyone’s hearts.”

"Everyone will only analyze and find reasons to support their own position logic within their own cognitive scope and according to their own ideal ideas."

"Speaking of which...this is also a good thing!"

“Think about it, if there weren’t these retail investors’ inherent thinking and uncontrollable greed.”

“How do major institutions like us profit?”

"The stock market, especially the domestic stock market, is a zero-sum game during 90% of the trading time. Some people make money and some people always lose money, and these retail investors are the best source of nourishment and profit."

"For many people..."

"Even if you tell him the wealth code, tell him where to reduce his position, where to increase his position, tell him which stocks will rise and which stocks will fall, he still won't be able to grasp it and won't make money."

"This is because a person's cognition determines his way of thinking and operating ideas."

"It can't be changed, and no one can."

"This is also the source and basis of the saying in the market that a person can only make profits within his own knowledge."

"So... there is no need to feel so deeply for these people. Instead... we should be happy. At least with them here, it will be much easier for us to make money."

"Otherwise, think about it."

"If the market is full of competitors like Fortune Road, then we will really have no choice but to rely on the northwest wind."

"Mr. Liu's words... really hit home." Fang Xinsheng was stunned when he heard Liu Xin's words, and couldn't help but laugh, "Most of the time, in a market that is a zero-sum game, ours The source of profits is really provided by the retail investors in the market.”

"I was just thinking..."

Fang Xinsheng paused and then said: "There is such a big movement in Fortune Road to reduce its position today. What is the real motive?"

"Is it possible that this main force of funds is really just kind-hearted in reminding retail investors and institutions in the entire market that the market has reached its peak and they should quickly reduce their positions?"

"In other words, the other party thinks that the market will have some huge negative consequences in the future."

“That’s why we need to reduce our positions so urgently.”

"After all, if it were me..."

"In the same main line field, the position size reaches more than 3 billion. It is simply impossible to finish the position in a short time. When the position is completed in a short time, I will definitely not expose my seat as soon as possible. I would rather reduce my position a little at a time than Would you kill him with such urgency and violence?"

"Huge negative news?" Liu Xin was startled by Fang Xinsheng's idea, "No way? Aren't the regulators very concerned about the market at the moment? They want to throw good news to the market every day, and let the financial and securities media sing about it every day. Multi-market, no matter how you look at it...at the macro level, there will be no major negative effects on the stock market."

"And the peripheral market..."

"The Federal Reserve's parliament went to Congress in December, and the U.S. stock market trend is also quite stable. The European economy and the U.S. economy are slowly recovering, and there are signs of emerging from the quagmire."

"These are all good things!"

"It can only be said that at this stage of the market, the profit accumulation is indeed too heavy, and adjustments are inevitable."

Fang Xinsheng pondered for a while and replied: "From a market analysis perspective, the probability of a major negative event is indeed small, unless a 'black swan' event occurs, but a 'black swan' event is inherently unpredictable, but I think... The Capital of Fortune Road is not an ordinary main force in the market. Every time this capital appears on the Dragon and Tiger List in a large scale, whether it is on the Sell List or the Buy List, the market will usher in a major market change, so there is This worry.”

"The means and methods of entering and exiting the market of this stock are extremely sharp and decisive."

"I feel that when the other party is reducing its position in the two main lines of 'mobile Internet' and 'smartphone industry chain', it must have other actions."

Liu Xin thought about it for a while and said: "For this fund, apart from the reduction in positions on the two main lines of 'mobile Internet' and 'smartphone industry chain', the only thing that can be observed is that this fund has the potential to increase today." The buying action on Hengxin has started. Is it true that... as predicted by many retail investors, this stock of funds is moving towards the petrochemical sector?"

"Petrochemical industry?" Fang Xinsheng chuckled, "This prediction... Mr. Liu, do you believe it yourself?"

Liu Xin coughed slightly and said: "I also think it is too outrageous. Even if we are betting on the recovery of international oil prices, the recovery of the macro economy, and the A-share petrochemical sector, the reflection arc is too long, and there will not be much progress at all. If too much follow-up funds enter, it will not lead to a big market.”

"What's more, in the petrochemical sector, the weight of two barrels of oil is too high."

"If you want to speculate in this field, you can't avoid these two big guys."

"And the internal chip structure of these two big guys is basically dominated by public equity institutions, large national funds, Joaquin, and Huijin. If you dare to enter the wealth road... then I have to respect him as a man!"

A trillion-level giant, facing a board dominated by the national team.

In Liu Xin's view, as long as Fortune Road dares to enter, the public-funded institutions that have been trapped in two barrels of oil for many years will definitely sell it off without hesitation and use Fortune Road's billions of funds, leaving nothing behind.

Therefore, those who truly believe that Fortune Road will adjust their positions to the petrochemical sector are either stupid or stupid.

And if you don't touch two barrels of oil, first, the market will not be able to speculate, and second, small-cap concept stocks in other sectors cannot accommodate such a large amount of funds.

"So..." Fang Xinsheng said, "Today's buying action of Fushenglu on Potential Hengxin is definitely a fake action to induce other follow-up funds in the market to enter. The purpose must be to cover up their fund's 'secret position' buying in other areas. Enter operation."

"Mr. Liu still remembers the ambush of Fortune Road funds on the main line of the 'Shanghai Free Trade Zone', right?"

"No one thought beforehand that Fortune Road would be the biggest winner in the entire 'Shanghai Free Trade Zone' concept hype, and the net value of their fund suddenly increased several times."

"I have studied this person's operating ideas..."

"Excellent at capturing market information, exploring themes and concepts, and also very good at lurking and building momentum to create monster stocks."

"Moreover, I also discovered a characteristic of this person."

"That's greed. Although the fund he manages is completely closed most of the time and does not release any holdings or net worth data to the public, I found through historical backtesting that during the operation stage of his fund, basically They are all in a full position, even if the market changes, the position is still full."

"Only by maintaining a full position can we create a performance myth of 10 times in three months."

"Now, the fund he manages is quite large. Under the inertial trading mentality and the pursuit of extreme performance, he still maintains the operation of switching between full positions. Then it will be easy for us to capture this fund in the market. There are traces.”

"Do you have a definite idea?" Liu Xin was particularly excited when he heard Fang Xinsheng's words.

If they can detect the position adjustment ideas and trends of Fortune Road funds in advance, then they can snipe midway, or even rush to raise funds in advance and harvest the fruits.

This is for them who have been suppressed by the "Yuhang No. 1" fund.

But it's an excellent opportunity to counterattack.

Moreover, if they can really seize the trend of funds in Wealth Road, successfully snipe at the other party, and drag the other party down from the investment altar, then the reputation of their fund company will skyrocket in an instant, and the investment customer base and future asset management volume will also increase. There is a huge room for improvement.

"We still need to observe and observe." Fang Xinsheng said, "But at least... I can make it clear that the next layout direction of Fortune Road's funds will definitely not be in the petrochemical sector."

"Okay, keep observing, observing!" Liu Xin rubbed his hands, "Don't worry, this fund is so large that it cannot be completely invisible during the period of rebalancing and stock exchange."

The two are continuing to discuss...

At this moment in Yanjing, inside Anlan Fund, in the trading room.

Xie Wanting stared at the large-scale sales of the Dragon and Tiger List on Fortune Road, pondered for a while, and then said: "Teacher, did he do this on purpose?"

"Huh?" Zhou Guohua was stunned, having difficulty understanding his apprentice's train of thought, "On purpose?"

"The selling was too deliberate," Xie Wanting said. "Based on my impression and understanding of him, he is very confident in his judgment of the market."

"Since he has judged that the market does not exist at the macro level, there is no bull market."

"With his confidence and holding such a large position, he will definitely not start reducing his position when the market shows an obvious signal of peaking, right?"

"I felt strange before..."

"The daily transactions of Huaqingbao, Fenda Technology, Changqu Technology, and LeTV are so fierce. A few days ago, when many fringe concept stocks were on the Dragon and Tiger list, these popular stocks were all avoided. "On the Dragon and Tiger List, especially last Friday, Changqu Technology was obviously able to close at the daily limit, but it was unexpectedly dropped below 7 points."

"Looking now, these votes intentionally avoid disclosing data."

"And in the chip structure of these tickets, there is no one else who has the ability to control the market to such an extent. Apart from Fortune Road, which holds large-scale positions in these popular stocks, there will be no one else. After all, Jiefang South Road has taken out many positions before , unable to control the game to such an extent."

"But Master, look at today..."

"Stocks such as Huaqingbao, Fenda Technology, LeTV, and Xinwei Group, which are heavily held by Fortune Road, all appear on the list, and Fortune Road has a large volume and very urgent selling action. Is this not intentional, or what? "

Speaking of which...

In Xie Wanting's mind, Su Yu's calm and calm expression flashed again, smiling and talking, and she said softly: "He deliberately revealed his seat and was not afraid of causing panic in the market. He should have finished exiting the position, right? Really?" It's powerful, if you don't move, it will be a thunderous method."

"It makes sense!" After hearing Xie Wanting's analysis, Zhou Guohua reacted instantly.

"But why did he buy Potential Hengxin?" Xie Wanting thought about one thing, but was stumped by another. "In the petrochemical industry, there are really no opportunities!"

Zhou Guohua thought about the key points, paused, and said: "Since his selling position on the Dragon and Tiger list to reveal the wealth road was deliberate, then the buying potential and trust were probably also deliberate. The purchase of more than 20 million Compared with the amount of capital invested, which can easily reach hundreds of millions or billions, it is really not worth mentioning.”

"Follow your thoughts..."

"He should be diverting the market's attention from all the major funds that are paying attention to his seat, secretly adjusting positions in another main direction, and...according to what you said, his move is probably the final liquidation sale, then he The layout in the other direction is probably almost completed."

"But... which direction will it be?" Xie Wanting tried hard to think hard.

Zhou Guohua smiled and said: "This is impossible to guess. After all, the market has a daily turnover of more than 100 billion. If he hadn't built a position very quickly in a short period of time, it would be difficult to detect the traces."

"I remember..." Xie Wanting carefully thought about every word she said to Su Yu during the two days of his brief stay in Yanjing during the National Day, and said softly, "He said that in the market, whether it is Regulators, national team capital, public equity institutions, private equity funds, hot money, and retail investors all have their own interests and goals. They also said that the "Future Investment" investment exchange summit was deliberately planned by the regulators. It’s a briefing meeting with a mission.”

"Teacher, what do you think..."

An idea flashed in Xie Wanting's mind, and she suddenly showed an excited expression and asked: "What are the most urgent needs and tasks of the regulatory authorities at the moment?"

Zhou Guohua's heart moved and he completely understood.

"You mean..." He stared at his apprentice's beautiful eyes, "IPO restart plan!"

Xie Wanting nodded firmly and smiled: "I think... it must be yes. Taking the IPO restart as the core logic point, then the recent market trends, the attitude of the regulators, the hype of the relevant media, and the hustle and bustle of the bull market ...Everything makes sense."

“Moreover, the global economy is turning and new economic sectors are booming.”

"If the domestic economy wants to pick up and recover, GDP will return to rapid growth, opening up direct financing channels in the financial market, and revitalizing the economic bloodline that has been blocked for almost a year and a half, should be the top priority, right?"

"Yes!" Zhou Guohua said with emotion, "One of the most important functions and tasks of the stock market is to create direct financing channels for enterprises and open up the link between market capital and enterprise investment. Today, this bloodline has a long and tragic history in the market. In the bear market, it has been paralyzed for almost a year and a half. It is also the longest IPO suspension in history since the establishment of A-shares. It is time for regulators to get anxious."

"The restart of the IPO must be coordinated with the market conditions."

“That’s why the ‘Future Investment’ exchange summit was established, and the favorable support from many parties during this period.”

Thinking of these...

Zhou Guohua couldn't help but sigh softly: "The IPO has been suspended for too long, and everyone can't help but forget that it is about to restart. They think that the bull market will not be there, and the IPO will not restart, but they have temporarily ignored the national economy and regulatory authorities. Essential needs, speaking of which... it really shouldn’t be necessary!”

"It's still too late to make plans now, right?" Xie Wanting heard Zhou Guohua's sigh and couldn't help but said, "Looking at the overall market trend, there should be no other main funds except Mr. Su from 'Yuhang Investment'. Notice this direction, and...isn’t there no news about the regulatory authorities yet?”

Zhou Guohua thought for a while and said: "As the saying goes, striking while the iron is hot, everyone knows that the market situation will not last forever. If the IPO restart plan is not launched when the market is good, it will be difficult to launch it when the market completely recedes, so... I estimate that the news of IPO resumption will be too soon. After all, today’s drop has cast a shadow on the market, and many people may not be able to wait any longer.”

"However, the layout... should still be available in time."

"The venture capital and securities fields related to the restart of IPOs are large in scope, and there are many heavyweight stocks. Even if the funds of Fortune Road are full, they will not be able to take most of the chips."

"But he now has almost tens of billions of funds." Xie Wanting said, "In addition to securities and venture capital, if tens of billions of funds are invested, there will not be many high-quality chips left, but we can intervene early. , should be able to take advantage of it and make more profits.”

Zhou Guohua nodded slightly and said with a smile: "Wanting, you have really grown up!"

Xie Wanting's analysis conclusion today is extremely important for Anlan Fund's subsequent macro operation strategy. It can be said to provide a clear investment direction, and it may be able to bring hundreds of millions, or even more, to the entire Anlan Fund in the future. Billions of profits.

Facing the teacher's praise...

Xie Wanting smiled and said: "I just followed Mr. Su's historical operation track and my superficial understanding of him to make investment inferences. Will the market develop like this? Has he followed this line of logic? When building a position, everything will have to wait until the final market verification.”

"It shouldn't be wrong!" Zhou Guohua responded, "You can clean up and get off work. I will find the marketing department to summarize the recent market news and demonstrate your inference. If there are no accidents, the market will open tomorrow. We will It’s time to start building a position in this area.”

"Last time, on the 'Shanghai Free Trade Zone' line, we were too far behind Mr. Su."

"This time, try to win back a victory!"

After saying that, Zhou Guohua walked out of the trading room.

Xie Wanting recalled the teacher's words and recalled the scene where she met Su Yu on the Waigaoqiao. Unknowingly, she felt a desire to win in her heart.

Of course, at this moment...

Su Yu didn't know that Xie Wanting could guess his true trading motivation from his deliberately created "Dragon Tiger List Lightening Up" action.

At this moment, he was counting the net worth of 'Yuhang No. 1' after completing the exit.

and remaining available funds from both funds.

After clearing the two main concept markets of 'mobile Internet' and 'smartphone industry chain', the net value of the 'Yuhang No. 1' fund climbed 15% compared to before the National Day, reaching a position of 12.39. Overall The amount of funds reached 4.9588 billion, which is basically the same as the size of the 'Yuhang No. 2' fund.

And after the post-holiday period of position adjustment...

The two funds have invested a total of 7.336 billion in the securities and venture capital fields, that is, 46 targets that Su Yu has drawn up and revised several times, leaving 2.622 billion in available liquidity. The overall position level is around 73%. The above is the intervention of heavy positions, and the layout is completed.

As for the specific position weights, Su Yu focused on the 12 core stocks.

The total holdings are about 3 billion, accounting for 40% of the total positions. Among them, the three stocks of the securities sector, Huaxin Securities, Huatong Securities, and Orient Securities, have positions close to 1 billion.

"Now, everything should be considered ready, all we need is the east wind, right?"

After counting all the position data of the fund, Li Meng was very happy and said with a smile: "If everything goes according to our expectations, the net value of our company's two funds should be able to reach a higher level at the end of the year."

"Don't worry!" Su Yu chuckled, "The east wind will come. After all, there are people who are more anxious than us."

"But before the east wind comes..." Li Meng paused and said, "With the market falling like this today, and our smashing, the market situation in the future will not look good in a short time, right? I'm worried about the market. If the fire suddenly cools down, then it will be very difficult to heat it up again.”

"Looking at the overall discussion intensity in the market, the impact of our seats is not that big." Su Yu said, "Before the news of the IPO restart was clear, there were no other obvious negatives in the market. Although the profit margin here was heavy, before the sentiment collapsed, The market is still relatively supportive.”

"and……"

Su Yu paused and said, "This shareholder storm we are waiting for may not necessarily be clear news!"

"How do you say this?" Li Meng said not quite understanding.

"Securities are the weather vane of the bull market and the sentiment indicator." Su Yu said, "If we want to make a solid conclusion about the bull market, and when the news of the IPO restart begins to spread, but has not been fully announced, many of the main funds in the market should have Action was taken.”

"in other words……"

"Hyping and harvesting does not have to be done after the news is clear."

"The hazy stage is the best stage of hype, because this stage is the most imaginative."

"Furthermore, in essence, the restart of IPO is a major negative for the market as a whole. If you speculate after the news is clear, the mood is not supportive and the space is limited. In this case, it is better to borrow money from the hazy speculation of the bull market. The news of the IPO restart will hype the market in advance.”

"Understood!" Li Meng said, "With the basic logic of the bull market, the space for speculation will be maximized, and the group following effect of retail investors will be strongest."

Su Yu nodded slightly and said: "Yes, the restart of IPO is probably the trend of this round of market. When it really comes to an end, it will only be a small part of the market after the market adjustment. The protagonist will have to change the stage to sing. Just watch... the market changes. It should be within the next few days. After all, we need to strike while the iron is hot. Regulators have a task and will not launch a restart plan for IPOs until the market cools down."

While the two were talking, the discussion on market conditions continued...

The topic of 'Fortune Road's position reduction' has become a hot topic in many stock forums across the Internet. However, after intense discussions, everyone did not panic because of Fortune Road's reduction of positions. Sentiment, overall, the investment sentiment of the entire network, although there are obvious signs of subsidence before the data of this dragon and tiger list, it has not collapsed. The bull market speech still occupies a large market and has a huge crowd. By.

In the evening, regulators remained silent.

Major financial media, securities media, and securities company analysts expressed their views on the market, and their comments were quite consistent, indicating that the current market trend is still very good, and that today's market adjustment is also a natural and benign adjustment. After all, no stock can keep rising, and no stock can rise to the sky regardless of valuation.

And in this...

Analysts from brokerage institutions also duplicitously reminded everyone to be cautious in pursuing rising concept stocks, calling on everyone to embrace "value investing" and buy core concept stocks in the market.

Of course, retail investors naturally sneered at these remarks, and no one believed them.

And, besides these...

The post that Su Yu published at the end of June when the market was plummeting, saying "Darkness is over, light is coming, the bull market is not far away", was suddenly forwarded and spread crazily by a large number of investors on the Internet, and was regarded as The basis and logical basis for many people's judgment of the bull market.

And in this mood of both anxiety and expectation.

Thursday, October 18th is coming.

At 9:10, the market has not yet opened. Countless investors sitting in front of the computer are focused on the computer screen, staring at their stock positions, expecting that today's market will be like the previous market performance. Yesterday’s decline has reached a new high!

Then, 9:15 came.

I saw that the two main concepts of 'mobile Internet' and 'smartphone industry chain', related concept sectors and core popular stocks that have attracted much attention, actually ignored the impact of Fortune Road's substantial reduction in positions yesterday, and either opened flat or opened slightly higher. , exceeded many people’s expectations and continued its strong state!