Rebirth of the investment era

At 11:22, the Shanghai Stock Index broke through the 2295 point, once again extending the decline to more than 1%. At the same time, the intraday K-line, which was still in the red, once again turned green, forming a narrow green cross K-line shape.

At 11:23, Gemdale Group's decline once again expanded to 3%, and Changqu Technology's decline expanded to 5%. The main line sector, which had been attacked by many bottom-hunting funds before, also fell back as the index rose and returned to the opening. Below the position, the weak pattern reappears.

At 11:25, the selling pressure in the two cities further increased, and a number of "shell resources" concept stocks once again fell to their limit.

At 11:28, the Shanghai Stock Exchange Index touched the 2190-point mark, and the decline of the GEM and Small and Medium-sized Enterprise Board indexes also expanded to more than 2%.

Finally, 11:30 arrived, the moment when the market conditions in the two cities were set.

The Shanghai Stock Exchange Index closed at 22 points, down 26%, while the Shenzhen Stock Exchange Index and ChiNext Index fell 73% and 08% respectively.

Among them, the half-day turnover of the two cities reached more than 68 billion.

Compared with the half-day performance of the market before the Dragon Boat Festival, this volume can be said to be a substantial increase in volume.

In addition to index performance, the two cities' main concept sectors, industry sectors, as well as various main line areas and popular core concept stocks.

It can be seen that related industry sectors and concept sectors such as 'Consumption', 'Pharmaceutical', and 'Finance' in the defensive fields have returned to the top of the list of gains in the two cities, showing a state of leading the market; 'Infrastructure', 'State-owned Enterprise Reform', 'Mobile Internet', 'smartphone industry chain', 'military industry' and other main areas have returned to the middle area of ​​the market from the two cities' leading decline areas, keeping pace with the market; 'restructuring backdoor', 'venture capital', Various mainline concepts such as the 'st sector' are still suffering from the most violent selling attacks in the market. Not only have they led the decline in the two markets, but related concept stocks have also shown a relatively obvious trend of falling to the limit.

As for other popular core concept stocks...

The market performance of stocks such as Beixin Road and Bridge, Beijiang Communications Construction, Shanghai Sanmao, China Fortune Land Development, Gemdale Group, Anjie Technology, Xinwei Communications, Changqu Technology, LeTV, and Internet Speed ​​Technology is still weak. Compared with the broader market, it shows that the short-term speculation funds and speculative funds, the most active part of the market, are not very involved.

At the same time, it also shows that the vast number of investors both inside and outside the market are not willing to take the initiative to follow the trend. Everyone's expectations for the market outlook and investment confidence are not strong either, and they appear to be quite hesitant.

Faced with such a midday closing situation.

During the lunch break, investors gathered in various discussion forums all over the Internet. Everyone was extremely depressed, and the enthusiasm for bargain hunting and some investment confidence that had been stirred up by the rebound in the morning were once again knocked back at this moment. He lost his prototype and fell back into depression.

"Hey, this trend is really full of twists and turns!"

Observing the depressed investment sentiment on major stock trading forums in the market, among the main hot money groups in Yuhang where Su Yu was located, some hot money players who participated in speculation and bargain hunting in the morning couldn't help but sigh: "What the hell, they are killing people without blood. Ah, at this position of 2200, I don’t know how much bargain-hunting funds have been buried.”

"Indeed, this morning's trend is really dramatic."

"Damn it, at about 10 o'clock, I really thought the market could pull up, but I didn't expect..."

"To be honest, after the panic sell-off in the early trading, the panic selling temporarily disappeared, and the market quickly entered by copying the market, and the trend of straight up the market was quite beautiful. I almost couldn't help but follow it. The following indexes After covering the gap, it is a pity that it failed to turn red and completely reverse the market decline."

"I don't even think about it now, why did this rebound fail?"

"It's very simple. The various funds in the market failed to form a synergy in one direction!"

"Yes, the fundamental reason is that there is no synergy. In essence, the market is seriously insufficient in undertaking funds. Once a synergy cannot be formed in one direction, it will not be able to fully absorb the market, stimulate market sentiment, and create a Market space and money-making effect.”

“The various funds in the market failed to form a synergy in one direction. This is indeed one of the reasons why today’s market rebound failed. But I think the most important thing is that no one, or in other words, there is no core major institution with a huge amount of funds. It was caused by igniting the fire at the critical moment and concentrating on pulling the market.”

"That makes sense."

"In fact, whether it is 'infrastructure' and 'state-owned enterprise reform', the two core main lines that are biased towards the direction of the main board, or 'mobile Internet' and 'smartphone industry chain', the two core main lines that are biased towards the small and medium-sized board and the GEM board , in its current position, the expected logic and expected space of its hype are not bad. What is lacking is emotion and confidence. I think as long as there are core and major institutions that dare to focus on igniting the market, active funds from all walks of life in the market will be directed in one direction. By inducing it, we should be able to open up the situation in the end.”

"It's easy to say, but difficult to implement, and it requires a lot of courage."

“Not only does it require great courage, but it also requires at least 2 billion levels of pure incremental funds.”

"Just trying to support the market and pull these main lines with 2 billion? How difficult! And once it is ignited and pulled, the market will not form a synergy in the end, and it will be all buried in it."

"Hey, since there is no core major institution taking the initiative to do the trading, we can only continue to wait."

"Well, let's wait for the market to adjust itself, wait for various funds to form a synergy in one direction, and wait for a wave of panic selling to sell off, and it should be about the same."

"If you miss the 2200 point mark, the Shanghai Stock Index will fall into the large box shock range from 2000 points to 2200 points. It will be difficult to break out at that time, right? After all, the last time the Shanghai Stock Index broke through the 2200 point mark, but with the help of The two main themes of 'infrastructure' and 'state-owned enterprise reform' were fully developed before the breakthrough was achieved."

"There is no other way. We can only respect the market."

"It's a pity that our capital is too small. At this time, the concentrated promotion of one or two stocks cannot move the investment sentiment of the entire market."

"Just wait and see with a short position. At this time, waiting patiently is the only correct choice."

"Indeed, those who attacked this morning really robbed batch after batch of bargain-hunting funds."

"Based on the situation at midday closing, the Shanghai stock index was unable to rebound and eventually fell below 2200 points. The trend in the afternoon is probably extremely unoptimistic!"

"It's definitely not optimistic."

"In my opinion, this morning's trend has shown that the Shanghai Stock Exchange Index has actually broken through the 2200 point support."

"It is estimated that the index will continue to fall in the afternoon, and a sharp decline is probably inevitable."

"It's not afternoon. So much of the funds rushed in today have been trapped, and most of them are short-term speculation and speculative funds. This batch of funds will definitely be liquidated and stopped tomorrow. And in the weak situation where the market continues to decline, the amount of funds that dare to take the initiative Yes, it will gradually decline. Under this situation, I estimate that tomorrow’s trend will not be much better.”

"It feels more like the downtrend has accelerated."

"Since the 2200 point has actually fallen below, we can only focus on the 2000 point. After all, there is no solid support between the 2200 point and the 2000 point."

"Once the Shanghai Stock Exchange Index completely enters the large box shock range of 2000 points to 2200 points, it means that there will be no market in June. Alas...it seems that the 'bull market' is completely in vain."

“The ‘bull market’ is a bubble to begin with!”

"The market trend has gone like this, so we can only predict it based on pessimistic expectations."

"The key thing tomorrow is that the first batch of new stocks will be listed after the IPO opens. Once the Shanghai Stock Index completely falls below 2,200 points today, there is really no possibility of turning around."

"Short positions, as I said before, you have to learn to short positions at this time."

"In the past month, since the market fell, I made one move and lost once. Now I really have to go short."

"The main thing is that I want to do it, but I don't know what to do? There is no sentiment or confidence to support mid- and small-cap concept stocks. It is difficult to buy mid-term and large-cap performance stocks and blue chip stocks even if their interim results have not been released. Defensive sectors In the fields of 'consumer, medicine, and finance', the sustainability is questionable. Although the liquidity is good, the stock price is not elastic. If you do it right, you won't make much money. If you do it wrong, you will really lose a lot of money. The price/performance ratio is not high, and there is nothing to do. It’s necessary, it’s difficult…it’s been really difficult lately!”

"Fortunately, the market has increased its volume today. This should be the only good news in this morning's market performance."

“This is true, the capacity performance of 68 billion is indeed a bit beyond expectations.”

"This shows that the market panic is almost clearing out, and the downward adjustment trend should be coming to an end."

"Indeed, I think it should be almost done when the market shrinks again, or there will be a bottom rebound with a large increase in volume."

In the midst of relatively cautious and heated discussions among many hot money bosses.

The one-and-a-half-hour break at noon passed unknowingly, and the market once again ushered in continuous bidding and trading periods under the intense attention of everyone and the intense emotions brewing at noon.

I saw that the time had just passed 1 p.m., and the market prices of the two cities started to beat again.

The Shanghai Composite Index, as well as the Shenzhen Stock Exchange Index, the ChiNext Index, the Small and Medium Enterprises Index and other core market indexes, have plunged sharply downwards again. Popular stocks in the two cities, as well as the main core concepts, have also been under concentrated selling pressure. The impact caused them to dive downward one after another, completely returning to a weak state.

At 1:01, the Shanghai Stock Exchange Index broke through 2185 points.

At 1:02, the Shanghai Stock Index continued to fall back to the 2183 point line. At the same time, the number of stocks in the two cities reached the limit and once again exceeded 40.

At 1:05, the Shanghai Stock Index fell back to the 2180 point line, a drop of more than 5%.

At 1:10, the decline of the small and medium-sized index and the GEM index expanded to nearly 5%. Panic selling sentiment in the two cities rose rapidly again. At the same time, the main areas of 'consumption', 'medicine' and 'finance' in the defensive sector , the phenomenon of rising against the trend once again appeared, and more safe-haven funds poured into these major main areas.

At 1:15, the number of stocks in the two cities exceeded 50.

At 1:20, the Shanghai Stock Exchange Index broke through 2180 points and fell all the way down to 79 points. At the same time, in the morning session, a number of industry sectors and concept sectors in the two main areas of 'infrastructure' and 'state-owned enterprise reform' showed some signs of recovery. It was also hit hard again.

At 1:23, the Shanghai Stock Exchange Index continued to set a new intraday low of 48 points, while the small and medium-sized board and GEM fell by around 3%.

At 1:25, the two cities ushered in a brief rebound after another wave of extreme panic selling was completed.

At 1:30, the Shanghai Stock Index regained 2176 points amid declining energy.

At 1:36, the Shanghai Stock Index returned to 2180 points, reducing the decline to around 5%.

After that, the Shanghai Stock Index fluctuated around 2180 points for about 10 minutes. Due to the intensification of market selling again, it had to continue downward.

"The intraday rebound is getting weaker and weaker, and the time-sharing performance during the rebound is getting lower and lower."

Seeing that the Shanghai Composite Index could not even hold on to 2180 points, at around 1:45 inside Yuhang Investment Company, in the main fund trading room, Li Meng sighed helplessly: "It is really weak. If this continues, the last hour of the late trading will be over. , I am afraid that it will be another unilateral plummeting trend under extreme panic."

"The key is……"

Li Meng paused, frowned, looked at Su Yu beside him, and continued: "If this position plummets unilaterally, it will directly reach the 2100 point. If it really reaches this point, what you said before' I’m afraid the expected judgment of breaking and then building has been completely disappointed, right?”

"Once this expected judgment failed, the Shanghai Stock Index completely fell below the 2,200-point support."

"Then there is a problem with our previous position-building strategy. And based on our current fund position level, if the index falls closer to 200 points and touches the bottom of 2,000 points, the net value of our fund will retrace. I'm afraid it will not be possible. It will be low, and the retracement of position profits will probably be quite severe.”

"It's not just that!" Su Yu added, "Once the Shanghai Stock Index completely loses the support barrier of 2200 points, market investment sentiment and investment confidence will completely collapse, and the market expectations of various funds will also completely change. , the market's adjustment space and time will be extended indefinitely, and it will be quite difficult to quickly come out of the several major market trends we expect."

"So?" Li Meng asked.

Su Yu was silent for a moment and said: "We cannot let the index deviate too far from the 2200 point position, otherwise the expected trend of 'breaking and then rising' will not be established."

"What are you going to do?" Li Meng's eyes flickered and he continued to ask.

Su Yu stared at the market and did not answer directly. Instead, he asked: "With the three main funds, how much cash do we have available in total now?"

Li Meng looked at the background data of the total fund account and replied: "There is still about 7.3 billion available cash."

"Enough!" When Su Yu heard this number, he nodded slightly, his eyes gradually became sharper, and told Li Meng, "Talk it, relying on the 'infrastructure', 'state-owned enterprise reform', 'military industry', and 'Internet finance' Several main lines, increase our efforts to undertake, as long as it is the core component stock that we plan to build a position, from now on, we will buy as much as there are selling orders on the market, and we will not reject anyone who comes!"

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