Rebirth of the investment era

"The market's investment sentiment and expectations have begun to recover significantly." Xu Xiang, who was beside Zhou Kan, squinted his eyes slightly and stared at the changes in the two markets. "When it comes to the market, more and more people are beginning to be optimistic about the market outlook." If the market is expected to improve, the so-called negative impact will be greatly reduced."

"That is, when the market is clearly rising, everyone will intentionally ignore the corresponding bad news."

"At the same time, the good news will be amplified accordingly."

"The influence of the trend of the external market last night has been obviously weakened by the gradually recovering expectations and sentiment development. Of course... this is a good thing. It at least proves that our expected judgment is correct. The market is indeed gradually getting rid of the previous shock pattern. Make a substantial breakthrough upward.”

"Also, under the influence of such expectations and emotions, the market's trading ecology should also undergo fundamental changes over time."

"What is called a trading ecology? There will be a fundamental change?" Zhou Kan didn't quite understand.

Xu Xiang smiled and continued: "The recovery of market sentiment and expectations will also promote the improvement of investors' risk appetite in market investment and speculation. The so-called 'bear market focuses on quality, bull market focuses on momentum', when the market trend As the structure and trends gradually change, the preferences and preferences of market funds will naturally change."

"For example, under good future expectations, if the current main board direction is a group of blue chip stocks and white horse stocks near the historical extreme valuation level, then... in the eyes of funds, they will appear to be very undervalued and obviously have investment value. Likewise, The expected space for speculation among the currently hot leading concept stocks will also increase with the market’s recovering investment sentiment and expected growth.”

"Just like the two stocks 'Fushun Special Steel' and 'Chengfei Technology'."

"Given last week, it would have been impossible to achieve such a tyrannical continuous daily limit trend, let alone break through the third board and show such strong market expectations in the call auction."

"'A bear market focuses on quality, and a bull market focuses on momentum.'" Zhou Kan muttered this sentence again, and laughed, "It is really like this. It seems that in the main market field, some leading concept stocks on the trend are growing simultaneously in the expected space. In this case, its high level of speculation needs to be re-evaluated.”

"Yeah!" Xu Xiang nodded slightly, "That's true. Only these stocks can first create market heights and money-making effects that exceed expectations, and then they can serve as a demonstration effect to attract more off-market investors. After all, ...Nothing can attract the strong desire of off-site investors to enter the market more than the expansion of the money-making effect. Similarly, only these stocks have a demonstration effect, attracting the continuous entry of off-site investors and making active funds on the market As the size of the group becomes larger and larger, the market will have the basis for continued bullishness."

"after all……"

Xu Xiang paused and continued: No matter what the expectations are, the amount of funds is the basis for driving the market. Without the growth of amount of energy and the continuous addition of incremental funds, the market will continue to rise and the overall market will rise. There is no way to talk about it. "

"Yeah!" Zhou Kan nodded in agreement and asked, "Boss, which one of these two checks, Fushun Special Steel or Chengfei Technology, do you like more?"

Xu Xiang pondered for a while, looked at the call auctions of the two stocks, and said with a smile: "The expected logic of the two checks is different, and the time to cash out the expected is also different. Analyzing from the expected logic, 'Fushun The rising logic of Special Steel's check is mainly due to the growth expectations of future performance due to the explosion of military industry demand in its main businesses such as 'nuclear power', 'domestic aircraft carrier' and several other main businesses."

"In addition, the stock price has fallen low enough before, and last year's performance was bad enough."

"This has led to the expectation that the future performance growth of this check will most likely explode rapidly. It has also created a strong difference in expectations between strong follow-up expectations and extremely weak early expectations. This has also led to the share price of this check." A situation where skyrocketing prices and large amounts of money are involved in the game.”

"However, the realization of the expected future performance explosion, as well as the actual project implementation of 'nuclear power' and 'domestic aircraft carrier' will take as short as half a year and as long as one year to reflect, which has led to the early stock price of this check. After filling the strong gap in expectations, the subsequent trend will not be too smooth. There is a high probability... In the subsequent trend, active hot money groups will gradually stop profits and exit after the first wave of strong speculation, while those who value medium and long-term expectations will The institutional community may pour into this stock during its short-term adjustment.”

"In general, the market trend of this check should be trend-oriented, rather than a continuous wave of speculation. It is suitable to serve as the trend leader of the entire 'infrastructure' and 'military industry' main lines."

"Compared with the check of 'Fushun Special Steel'..."

“The expected logical fulfillment cycle of ‘Chengfei Technology’ is completely different.”

"Currently, this check is enthusiastically sought after and hyped by everyone because it is the only stock expected to be restructured in the direction of 'military industry reform and restructuring', 'military industry asset restructuring', and 'military industry enterprise mixed reform'. Such characteristics, superimposed" Based on the basic logical expectations of the military industry line, the stock price naturally exploded."

"But the logic of speculation for stocks with restructuring expectations is completely different from the logic of speculation for stocks with performance expectations."

"Restructuring expectations has only two possibilities: success or failure."

“In the early days when the news breaks out, expectations are definitely the strongest and the difference in expectations is also the strongest. But the closer it is to the timeline of the reorganization that everyone expected, or the clearer and more distinct the results of the reorganization, the weaker the expectations will be. Since the stock price reflects market expectations, the trend of the stock price is usually in waves. After a wave of speculation, after the restructuring expectations are heightened, once the stock price falls into an adjustment, it will be difficult to regain momentum."

"So, regarding the expected market trends of the two stocks..."

"In the short and medium term, Chengfei Technology is definitely better in terms of height, but in the long term, the two are incomparable."

"Actually, these two checks..."

When Xu Xiang said this, he paused again, organized his words, and continued: "Today should be the point of divergence between the two trends. The possibility of 'Fushun Special Steel' continuing to hit the daily limit today is very low. It is probably Maintaining a high and volatile trend, however, 'Chengfei Technology' clearly has no pressure to break through the third board, and... this check is very likely to become the well-deserved leader of concept hype in the market's short-term timeline."

“More than three boards can be expected.”

“A five-board height upwards, or even a seven-board height, is completely expected.”

"Of course, where the speculation can be in the end and how much height space can be achieved depends on the specific funding situation on the market, as well as the expected changes in the participation of various funds in the market. After all, leading stocks are behind, in addition to expectations, Funding risk appetite and market sentiment are the most important things.”

"Understood!" Zhou Kan nodded, "Then it should be reasonable to continue to increase positions in 'Chengfei Technology' after the market opens."

After saying that, Zhou Kan turned his attention back to the trading boards of the two cities.

At this time, the market has completed the call auction. The Shanghai Index was priced at 33 points, up 32%, while the Shenzhen Stock Exchange Index and ChiNext Index fell 12% and 29% respectively. Nearly 1,100 stocks in the two cities opened in the red, with 700 The remaining stocks opened slightly lower.

Judging from the overall opening conditions of the two cities, this situation is slightly higher than the expectations of the majority of investors in the pre-market market.

As for the popular main lines that have attracted much attention in the two cities, as well as popular industry sectors and concept sectors.

A number of industry sectors and concept sectors in the two main areas of 'infrastructure' and 'military industry' have all achieved higher openings to varying degrees; while in the main area of ​​'technological growth', only 'consumer electronics' has slightly increased. After recovering, the rest opened lower. Among them, the 'Internet Finance' and 'E-commerce' sectors, which were relatively resilient yesterday, showed obvious replenishment during today's call auction stage.

Of course, even in the main line of 'technological growth', a number of concept sectors have generally shown a trend of opening lower.

However, its performance is still slightly stronger than the market investor group's expected performance in this field.

After all, everyone thought that the line of 'technological growth' would continue to collapse after the continuous decline of 'LeTV. In addition to the 'Internet Finance' and 'E-commerce' sectors, as well as the 'Film and Television Media' sector, which had surged in the previous period and was now most affected by the continuous drop of the limit by 'LeTV', there was an obvious trend of sharply lower openings, and the rest of the concept sectors, in After two consecutive days of extreme decline, there are signs of temporary stabilization.

In addition to the performance of the main line of the market, the performance of industry sectors and concept sectors.

The performance of popular leading concept stocks that have attracted much attention in the two cities...

I saw that 'Fushun Special Steel' finally opened higher at 28%, and the market trading was quite active, but the funding gap has expanded compared to the previous two days; 'Chengfei Technology' opened higher at 63%, approaching At the daily limit position, 76 million yuan of funds were transacted in the call auction alone. The trading on the market was extremely active, and the enthusiasm for capital participation was also very high. There is a strong momentum to continue to raise the limit; 'LeTV' continued to fall to the limit, and the limit order closures were attenuated compared to yesterday. , but it is still as high as more than 200,000 lots; 'Yinkou Port', which received extremely high attention yesterday, finally opened higher at 22%. On the market, the willingness to do long funds is also very strong.

As for "Beijiang Communications Construction, Shanghai Construction Engineering, Tianshan Cement, Pudong Construction, Beijing Capital..." and other early popular concept stocks in the field of "big infrastructure", although at this moment, most of them have still opened higher. However, the popularity and activity of capital trading on the market have declined compared to before.

Among them, 'Beijiang Communications Construction', the leading stock in the early period, only opened higher at a gain of about 5% on yesterday's Dragon and Tiger List, without 'Fortune Road' smashing the market. The market capital divergence was huge. It seems that the stock price is at this position and it is difficult to continue trading higher.

And the weight of the fields of 'infrastructure' and 'military industry' such as 'Huaguo MCC, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo Construction, Kewan Real Estate, Gemdale Group, China Aviation Optoelectronics, Aviation Power...' Large-cap stocks maintained an upward trend, slightly outperforming the Shanghai Stock Index's gains. They were basically not affected by the correction late yesterday due to insufficient market capacity. The market sentiment was still quite active.

In addition to the core main lines and core stocks.

Although most of the performance of other market stocks follows the changes in the market index, most of their market capital trading conditions and the opinions of retail investors in the individual stock comment area are still developing in a good direction, whether it is trading volume or expectations. It's gradually improving.

In general……

After the market officially broke through the 2300-point level, the overall investment sentiment and investment confidence have undergone a more obvious change than before. Although overall, the market has not really gotten rid of the pattern of stock games, but there is hesitation on the sidelines. The group of potential investors who are waiting and watching are already holding funds and are attracted by the money-making effect of the market, and are slowly entering the market.

Faced with this opening situation of the two cities.

The vast investor groups in the market, whether they are retail investors, medium and large hot money investors, private equity asset management institutions, public equity asset management institutions, or the self-operated business groups of large financial institutions, are still a little surprised in their hearts. They feel that this opening situation is a bit beyond the market. psychological expectations in advance.

At the same time, the market is facing a good opening scene.

In the discussion of topics and the collision of opinions, the expected views of continuing to be optimistic about the market outlook and intending to continue to be long on market stocks still clearly have the upper hand. The short forces did not successfully counterattack under the concerns about the external market trend, thus suppressing the bulls in the market. strength.

During the discussion of topics and the collision of opinions, emotions brewed for a brief 5 minutes.

The two markets, which were temporarily frozen, started beating again after the time reached 9:30.

As soon as the market started to beat, the stock price of Chengfei Technology, which had attracted much attention, went straight to the daily limit at lightning speed. After the volume exploded to 200 million, it completely closed the daily limit in less than half a minute. , successfully passed the pressure mark of the third board.

Of course, this check will hit the daily limit in seconds.

As a result, many investors in the market who were optimistic about the market situation of this check were blocked from the buying channel before they had time to formally place orders.

Immediately afterwards, at 9:31, driven by the daily limit of ‘Chengfei Technology’.

The 'National Defense and Military Industry' industry sector index, as well as its related concept sector index, both rose rapidly, making the entire 'military industry' mainline-related sector once again occupy the top position in the two cities' concept sector and industry sector growth lists.

And at the same moment, the follow-up capital group that had not successfully bought 'Chengfei Technology' overflowed instantly and flowed to 'Fushun Special Steel', which also attracted a lot of attention and was heavily traded. As a result, the stock price of this check fell within one minute. That is, it rose in a straight line, breaking through the 7% increase mark.

And the rise of ‘Fushun Special Steel’.

It also inspired the related sector indexes of 'steel', 'nuclear power', and 'domestic aircraft carrier', as well as the corresponding component concept stocks within the sectors to rise simultaneously, and the sentiment of funds following the trend also quickly spread from these sector areas to the entire The main line area of ​​'big infrastructure'.

So, after the opening, in just 5 minutes.

Driven by the comprehensive efforts of ‘Fushun Special Steel’ and ‘Chengfei Technology’, as well as the rapid performance of the two main lines of ‘military industry’ and ‘infrastructure’.

The Shanghai Stock Index has reached below 2,400 points, once again one step away from breaking through this integer mark.