Rebirth of the investment era

"I agree with Manager Fang's opinion." At this time, Mou Zhengxing on the side also interjected, "This should be just a weak rebound after the market quickly oversold in the short term. It is difficult to be sustainable. We have already made a mistake in our trading strategy before. It’s a good opportunity and we shouldn’t make the same mistake again this time.”

Liu Xin saw that the two important people in the management of fund products believed that this was just a weak rebound trend that was a relay of decline. After thinking for a moment, he fully agreed with their analysis of the market and said: "In that case... then... Follow your advice, Manager Fang!"

"Okay!" Fang Xinsheng responded and quickly made arrangements.

At the same time, in Magic City, Yinghui Fund Company increased its positions significantly at a high level, and also because of the disadvantages of news channels, it missed the best window to reduce its position in the 'Yinghui No. 1' fund product transaction before the negative news fermented last week. In the room, fund manager Liu Guanhai seemed rather hesitant: "It's a bit negative, and the market's long-short situation has turned around! Hey... it doesn't matter if I sell at this time, or I don't sell."

"Mr. Liu, I feel that the market performance this morning is quite impressive." Seeing that Liu Guanhai was hesitant and seemed to be shaken by the trading strategy he had formulated before, Yu Lei, the trading team leader on the side, said, "According to the market's trend, Emotional reactions and everyone's expectations, the market should have fallen sharply due to the negative news today. However, after opening low and fluctuating, it continued to rise and strengthen. It should be that after the negative news fell, the market's main funds began to cover their chips at low levels on a large scale. ”

"and……"

Yu Lei paused and continued: "Looking at the morning market, the strongest sector areas are still the two core main lines of 'infrastructure' and 'state-owned enterprise reform' that we have not had time to reduce our positions on a large scale before."

"The market's main funds have returned to these two core main lines on a large scale. This proves that the market potential of these two core main lines has not been exhausted before. Therefore, in terms of our established strategy of reducing positions, I think it is better to slow down for a while. Wait, let’s take a look at the trend in the afternoon and tomorrow morning.”

"Regardless of whether this large-scale replenishment of main funds after the bad news has landed can create a new round of sustained profit-making effects in the market, there will definitely be a short-term rebound. Even if we have to reduce our positions... we should be able to do so in the follow-up market." , find a relatively better selling point, thereby reducing the retracement of our fund’s net value.”

"Well, what you said makes sense." After listening to Yu Lei's analysis, Liu Guanhai nodded in agreement, "The index opened so much lower in early trading, and then it continued to rise after a sharp decline, which is enough to prove that today's buying trend We have a strong market attitude, so... when market liquidity gradually recovers and is relatively abundant, there is naturally no need for us to rush to sell chips and cut all positions at low levels."

"How about this……"

Liu Guanhai thought carefully for a while, paused, and continued: "There is a lack of liquidity on the market. The stocks that still show no signs of rebounding in today's session will continue to decrease if they can. Liquidity is abundant. The rebound trend in today's session is strong. And if there is an obvious net inflow of main funds into held stocks, we will suspend the pace of reducing positions and wait and see the continuity of the market in the afternoon."

"In short, while we fully consider transaction risks, we must also respect the existing trend results reflected by the market."

"Whether today is a short-term rebound after the negative effects of the market, or the starting point of a new round of long market, it is always right for us to streamline our holdings and continue to eliminate the weak and retain the strong."

"Okay!" Yu Lei responded, "I'll make arrangements immediately."

After saying that, Yu Lei looked at the traders in the trading room who had finished their meals and returned to work, and quickly began to arrange the trading tasks for the afternoon.

Similarly, at this time, there was another trading room in the same company.

In the 'Yinghui No. 2' fund product trading room, fund manager Shao Xiaoyun looked at the market performance that had been fixed in the morning, and basically had the same hesitant thoughts as Liu Guanhai: "If it should be weak, it will be strong; if it should be strong, it will be strong." Weak, the market trend this morning is indeed somewhat beyond expectations."

Having said this, Shao Xiaoyun thought for a while, then turned to look at Liu Changling, the trading team leader, and asked: "Changling, what do you think? What do you think of the market trend this morning?"

Liu Changling pondered for a moment and responded: "Whether it is news or sentiment, this morning's trend is definitely deviating from the market's expected direction. As Mr. Shao just said, 'it is strong if it should be weak. From the perspective of "weak if it is strong or not," today's market trend and the strength of the main funds' attack on the market are obviously beyond everyone's expectations, and it can be regarded as a quite powerful counterattack trend."

"Then do you think this is the starting point of a new round of market prices, or is it a relay rebound in a downward trend?" Shao Xiaoyun continued to ask, "Do you think we... need to adjust our previous trading strategy? We still have a lot of positions. If it has not reached the planned position, should the sea continue to decrease?”

Liu Changling responded: "It's hard to say whether it is a new starting point for the market or a relay rebound in the downward trend. It depends on the continuity of the market in the afternoon and even tomorrow, especially if 'Beixin Road Bridge, Beixin Road Bridge' "Jiangjiang Communications Construction Co., Ltd., these two front-line leading stocks that have attracted a lot of market attention, can completely reverse their trends. If there is a second wave of relay speculation, then the entire market may really come alive."

"As for trading strategies under the current market conditions..."

"I think we should not rush to change and turn from defense to offense before the market has clearly come out. We can only slow down the pace of reducing positions appropriately, wait and see more about the market's next reaction, and then make important changes in trading strategies." .”

Shao Xiaoyun thought for a while and said: "According to your opinion, we should just be on the sidelines for the time being?"

Liu Changling nodded and responded: "About that. The current overall position level of our fund is still around 60%. In fact, the position is not low. When the market trend is still uncertain, it is really not appropriate to increase the position further. At the same time... in view of the market's unexpected rebound trend, it is not suitable for us to carry out large-scale selling at this juncture according to the previous trading strategy and lose low-level chips for no reason, so waiting and watching is a better choice at this moment."

"Well, that makes sense." After listening to Liu Changling's analysis, Shao Xiaoyun finally fixed his eyes on the two stocks of 'Beixin Road and Bridge and Beijiang Communications Construction' in the market, and said expectantly, "I hope that in the afternoon, 'Beixin Road and Bridge, Beijiang Communications Construction' These two front-line popular leaders can truly and completely reverse the previous decline and create a money-making effect."

After saying that, Shao Xiaoyun smiled and said: "Since the market trend does not change as expected, and the selling and buying points are not so obvious at the moment, then as you said, let's wait and see first!"

"Okay!" Liu Changling responded and stopped talking.

At this time, when major asset management institutions were wrong about today's market trends, they were all making different changes to their trading strategies.

At this time, hot money, as the most active investor group in the market, has another attitude.

I saw that in the Yuhang main hot money group where Su Yu was located, the discussion news at noon had been rapidly refreshed in the group.

"This morning's rebound from bottoming out was really beautiful. Even Beixin Luqiao, a stock with huge orders that hit its daily limit, almost hit the bottom."

"I have to say that at about 10 o'clock in the morning, the main force of funds pulling the market was really awesome!"

"Indeed, the negative sentiment has landed, and the short sentiment in the market seems extremely heavy, but the large-scale potential selling in the market has already reached a low level."

"Smart money flees before the bad news hits the market."

“Because too many smart and big funds in the market fled before the bad news materialized, the upward pressure on the market after the bad news materialized was much lighter than before the bad news materialized.”

"Another point is that last week, the Shanghai Stock Exchange Index continued to plummet. The decline was large enough within two or three days. To a certain extent, while reflecting the bad news, there were some obvious short-term oversolds. This gave the market room to bottom out today, right? ?”

"There are also reasons why several rules listed in the new IPO policy are slightly stronger than the market generally expected."

"No matter what the reason is, the market has rebounded. The result has been presented. So we should not delve into the reasons. Instead, we should think about how the market will change in the afternoon?"

"The market in the afternoon will most likely continue the rebound trend in the morning!"

"Yes, looking at the market trend in the morning, during the midday closing period from 10 o'clock to 11:30, the time-sharing volume of the two cities was able to increase. Although the volume increase was not very sufficient, the willingness and strength of the main funds to buy the bottom was quite determined. , I think the market will continue to rebound in the afternoon and there is no problem.”

"Indeed, looking at the main capital flows in the market in the morning, the intensity of buying is indeed quite determined."

"At this position, no matter what aspect, there should be a rebound."

"Whether it's a rebound or a reversal, as long as there is a convergence of money-making effects."

"If we want to do trading today, I feel that we still have to look for opportunities on the two core themes of 'infrastructure' and 'state-owned enterprise reform'. After all, judging from the market situation in the morning, whether it is the largest net inflow of main funds, or the vast number of retail investors These two core main lines attract the most attention.”

"Well, there is no doubt that the two core themes of 'infrastructure' and 'state-owned enterprise reform' are still the unshakable core areas of speculation in the market."

"The strong will always be strong. It seems that the two main lines of 'infrastructure' and 'state-owned enterprise reform' will not end so easily."

"At least in the real estate sector, the move this morning has been a bit counter-intuitive."

"Real estate is indeed strong. I didn't expect Kumho Group to hit the daily limit in one go."

"It's all because of the 'Kumho Group' that triggered counter-contract expectations and sentiment in the real estate sector. Otherwise, the real estate sector might not have been able to be so strong."

"Speaking of which, the two leading stocks of 'Beixin Road and Bridge and Beijiang Communications Construction' are also expected to be counter-contracted today!"

"Beixin Road Bridge is only 2 or 3 points away from the floor."

"Will there be a floor-to-ceiling trend in the market today?"

"I feel that there must be one, and it must be the 'Beixin Road and Bridge' check. After all, the mood has been here in the morning. If the check is weak and does not seal the market in the afternoon, the market rebound will not make people feel at ease."

"Hey, it's a pity that in the early trading, I hesitated and didn't dare to buy the 'Beixin Road and Bridge' check at the bottom limit. I really suffered a big loss."

"Not only was the loss huge, it was a huge loss of blood!"

"A leading stock like this actually has several lower limits in a row, and the chips in the middle are completely out of stock. Once the lower limit is opened, it can make a wave."

"No one could have imagined that the market would suddenly strengthen!"

"Indeed, if we don't analyze it later and just look at the market trend in the early trading, even if the market does not continue to fall sharply today, there is a high probability that it will fluctuate sideways under water at a low level. After all, the market volume at that time was rising and shrinking. It’s serious, and the entire market, both on and off the market, is biased towards caution in terms of financial performance and emotions.”

"That's true, but... it shouldn't be too late to react now, right?"

"It's hard to say now. It's not cost-effective to participate in Beixin Road Bridge. Even if the floor of Beixin Road Bridge rises to the daily limit today, under the influence of such a wide range of intraday profits, there won't be much premium tomorrow. I'll rush in after all the hard work. It’s not worth it to earn 4 or 5 points while taking risks!”

"If you want to follow the trend and make a market at this time, the first choice will definitely not be Beixin Road and Bridge, which has already risen a lot. Buying Beijiang Communications Construction at this time is much more reliable than buying Beixin Road and Bridge."

"Relatively speaking, the second-tier popular stocks that have not yet gained momentum at this time, but have a certain memory impression in the market, have more speculation and hype value, such as Shibei High-tech, Shanghai Steel Union, Chongqing Development, China Fortune Land Development, etc. wait."

"Speaking of the 'Shanghai Steel Federation', today's check from 'Oriental Fortune' is so high that it's hard to understand!"

"I can't understand it either. This check is usually bulky and not easy to hit the limit. I have no idea what went crazy today. The trend is so abnormal. And I don't seem to have heard of anything about this stock in the market news. Major good news, or good news about the direction of 'Internet finance'."

"It won't go up to the limit for no reason. I guess the news hasn't spread yet!"

"Eh... If the logic behind the stock price limit of 'Oriental Fortune' is really in the direction of 'Internet finance', and there is any new major positive stimulus, then Shanghai Steel Union, an old and outdated company that has not yet gained momentum, The dragon head is really promising and worth speculating on, and with the 'Oriental Fortune' backing it up, it shouldn't be difficult to pull the check."

"How about giving it a try?"

"Give it a try!"

While everyone in the group was having a heated discussion and expressing their personal opinions...

The one-and-a-half-hour lunch break passed in a blink of an eye. The time passed by 1:00 p.m., and the two cities ushered in the official continuous bidding trading time.

I saw that the stagnant disks of the two cities had just started to beat, and the Shanghai Stock Exchange Index suddenly shot upward.

At the same time, 'infrastructure', 'state-owned enterprise reform', 'Shanghai Free Trade Zone', 'Internet finance', 'film and television media' and other popular main areas that performed strongly in the morning have also been subject to more attacks from all walks of life in an instant. Funds rushed to raise funds to pursue it. Among them, the core popular stock "Beixin Road and Bridge" also rushed to the daily limit price at lightning speed, attracting the attention of the large number of investors who paid close attention to this stock.