Rebirth of the investment era

Su Yu smiled and nodded, and responded: "Yes, when we make a market decision, we must not only focus on the market surface, but also the expected changes on and off the court."

"Master, the good signal released by the central bank to the market should have already stated the expectations of future interest rate cuts and RRR cuts, right?" Liu Yuan heard the discussion between the two people, thought about it for a while, and said, "If the market is expecting interest rate cuts and RRR cuts, Once the situation is formed, there should be sufficient news and policy support for the main line of 'big finance', and before the official news is released, the market trend in the main line of 'big finance' should not be a big problem, right?"

Su Yu nodded slightly and responded: "The current market should generally have this expectation."

"In fact, even if there is no expected stimulus from the central bank's release of monetary policy to the market, the main line of 'big finance' will obviously explode." Zhao Lijun also added at this time, "The market's turnover of 500 to 600 billion In addition, the balance of financing and financing has also increased by hundreds of billions compared to June and July. The entry of so much incremental funds has brought about performance growth to the brokerage sector and even the entire 'big finance' sector. It just can’t be ignored.

There is also the continuous siphoning effect on other main lines of funds in the market due to the main sectors such as "infrastructure" and "military industry".

As a result, the valuation of the 'big finance' line has been extremely suppressed.

As long as the main financial groups active in the market are not blind, they should notice such a huge difference in expectations.

Therefore, on this line, I feel that even if we do not take the lead in pulling the market, we will eventually gradually form a unified force in the market and eventually get out of the market.

However, the time when the market finally breaks out may be relatively lagging behind.

There is also the potential for an explosion, which will not be as strong as it is now, and its driving effect on the entire market will not be as rapid as it is now. "

"Although the line of 'Big Finance' is a bright one, the hold-up is very heavy." At this time, Zhang Guobing also took over the words and said, "If we don't trigger the market at this critical moment, it is very likely that the market will be in 'Big Finance' In the financial direction, after it has been difficult to form a synergy, it will quickly turn to the main lines of 'technological growth' and 'big consumption'. If the market really develops in that way, it will be completely detrimental to us, so... I think we At this time, it is still very necessary to bring out the main line of 'big finance'.

Now, the investment volume of our institution is so large.

In investment and trading, we cannot simply follow the trend of market development, but we must actively guide the market to make corresponding breakthroughs. "

"What Guobing said makes sense." Su Yu said with a smile, "The best defense is to take the initiative to attack. Only if we follow the macro development trend of the market and actively guide the market, let the market sentiment and market develop in the direction we expect. Only by moving in the right direction can we truly grasp the market conditions, reduce investment risks, and maximize market profits. This is an ability that an excellent market trader must possess."

"Boss, in addition to the 'Big Finance' line, today's 'Technology Growth' line has also rebounded quite fiercely." Wang Can thought about it for a moment and said at this time, "LeTV and Wangsu Technology both hit their daily limit today. Well, domestic software, Apple concepts, film and television media, mobile games... and other related concept sectors in the main line of 'technological growth', today's gains are second only to the core sectors of 'big finance'.

Looking at this situation, it seems that the entire main line of 'technological growth' is indeed showing signs of ending its adjustment.

If the capital group forms a joint force in this direction next, will it form certain market constraints on the main line of "big finance" that is breaking out and breaking through?

After all, if the entire main line of 'technological growth' has a sustained money-making effect.

Then, there will inevitably be a certain differentiation in the funds gathered in the direction of "big finance".

At that time, the main funds in the market will be diverted, and the fund-carrying power in the direction of 'big finance' will inevitably weaken. At the same time, there will inevitably be investors who have followed the 'big finance' sector in the past few days and have already made a lot of profits. In an attempt to make profits and stop profits, switching between high and low levels on the main lines of 'big finance' and 'technological growth' will inevitably suppress the upward power of the main line of 'big finance'. "

"Today's rapid rebound in the 'Technology Growth' line is mainly driven by the 'LeTV' check, right?" Before Su Yu could speak, Zhu Tianyang had already taken over and said, "And the 'LeTV' check, today The main reason for the change is the stimulation of the news, rather than the reversal of fundamental expectations. I feel that at this stage, the market's main line of 'technological growth' and its fundamental expectations have not yet reached the point of reversal.

At least for many stocks, their performance growth rates have not kept pace with their valuations.

Moreover, from a technical perspective alone, the K-line patterns of many stocks have not been resolved, and the internal chip structure has not been adjusted.

So, looking at it all...

The main line of 'technological growth' should be dominated by short-term rebounds rather than reversals.

Comparing the market trend of the main line of 'Big Finance', the two are completely different in terms of market development motivations and expected factors, and naturally they cannot be compared with the same kind.

The logic of this factor in oversold rebound.

This will only cause the stock prices of many stocks in the "technological growth" line to quickly rebound upward by 10 or 20 points.

Once these stocks encounter strong pressure positions ahead, as well as strong selling by major funds, and at the same time, the market's extreme hype and trend-following sentiments begin to gradually decline and stabilize, then there is a high probability that these 'tech growth' stocks that have rebounded from oversold will return. Will fall into adjustment.

In other words, I think, the current stage.

The time is not yet ripe for the line of ‘technological growth’ to achieve sustained money-making effects and gradually form rebound expectations and reversal expectations.

Moreover, under such a strong money-making effect and breakthrough market trend in the direction of "big finance".

In fact, the funds flowing in the direction of "technological growth" are just a short-term capital group that overflowed from the direction of "big finance" in a short period of time.

It is difficult to continue to promote the line of ‘technological growth’ with this part of the funding group.

Therefore, I don’t think we need to worry about the impact of the ‘technological growth’ line on the market price of the ‘big finance’ line, nor do we need to worry about the differentiation of active capital groups in the market, which will restrict the market height of the ‘big finance’ line. "

"Tianyang is right." Seeing that Zhu Tianyang had clearly explained the logic of Wang Can's worries, Su Yu couldn't help but smile and nodded, and responded, "The 'technological growth' line, the current fundamentals There are still problems with the reversal expectations. Whether this line can specifically form a fundamental reversal expectation, the final logical judgment may not be clear until the third and fourth quarter results of many related core stocks are released.

Prior to this, the line of 'technological growth' is unlikely to end the overall adjustment and take a further main upward market route.

And the line of ‘big finance’.

The expected reversal of fundamentals is already obvious.

Coupled with the continued positive stimulus from the central bank and regulators, the foreseeable benefits of the 'Shanghai-Hong Kong Stock Connect', the issuance of A50 index futures, the issuance of China Securities 500 index futures, and the central bank's interest rate and reserve requirement cuts... will also come one after another. Such a sure investment opportunity.

As long as the active capital groups in the market are not blind, they should all converge in this main direction.

If there is no problem in the expected logic of investment, then there is no need to worry about other things.

in other words……

Even if the line of 'technological growth' has a very small probability of reversing the trend in advance and forming a sustained money-making effect, how many capital groups can it divide the market?

Don’t forget, the average daily trading volume of the current market is already more than 500 billion, and it continues to rise.

At this level of volume and energy, the market can support two or three core main lines and make simultaneous breakthroughs.

In other words, under the current extremely abundant capital liquidity in the market, in fact, as far as the "big finance" line is concerned, the capital flow actively undertaken is completely excessive.

This has led to the situation where the overall expectations of the main line of "big finance" are still increasing.

The stock prices of related core stocks simply cannot fall. As long as there is a slight adjustment in the stock prices of related core stocks, the flow of funds from below will continue to flow.

Moreover, the market's two-finance targets are mainly core stocks that converge in the direction of "big finance".

In the case where the balance of financing and financing in the market continues to explode.

This leverage effect will also intensify the market evolution in the direction of "big finance".

I estimate that... in the direction of 'big finance', especially the relatively more certain 'securities' sector and the 'Internet finance' sector, the market performance should be more intense than we expected. "

Just as Su Yu expected...

The next day, Friday, October 31st.

The market was relatively calm on the news, with no clear positive or negative interference, and continued to open significantly higher in early trading.

Among them, in the direction of "big finance" that has attracted much market attention, the "securities" sector index once again opened higher by nearly 3 points, and the "Internet Finance" sector index opened higher by nearly 5%.

After the official opening.

The securities sector reached its highest at 9:36, hitting around 5 points, and remains strong.

Among them, the stock of 'Western Securities', which has the strongest trend in the securities sector, continued to open 7 points higher today after having achieved three consecutive market openings. Within a few minutes, it was listed again and closed, forming a four-way stock market. The tyrannical trend of even daily limit.

As for the 'Internet Finance' sector, it also surged quickly after the official opening.

Among them, the three checks of 'Flush', 'Great Wisdom' and 'Yinjie Technology' also opened high and closed their daily limit in seconds, continuing to achieve a continuous trend.

However, in the core sectors of 'big finance', the trend is still strong.

Still siphoning funds on a large scale.

At 9:46, the "Blue Stone Reload", which originally opened sharply higher and quickly hit the market, once achieved the 25th consecutive board, suddenly exploded and crashed rapidly, falling 10 points in an instant, directly from the daily limit price to the green market. The situation has severely affected the market's continued high-speed advancement of speculation and investment sentiment.

Therefore, under the influence of the high-level flash crash trend of ‘Blue Stone Heavy Equipment’.

At 9:47, 'Leiman Optoelectronics', which also had its daily limit closed, also exploded rapidly, marking that the two branch markets of 'sub-new stocks' and 'sports industry development', which had been strong for many days, entered a stage of rapid adjustment.

At 9:48, ‘Bluestone Heavy Equipment’ and ‘Leiman Optoelectronics’ were bombarded one after another.

Yesterday, in the main line of "technological growth" that has just achieved a hot money-making effect, a number of popular concept stocks, as well as heavyweight core stocks, also quickly experienced a plunge, quickly recovering the gains made at the beginning of the market.

At 9:50, the check for ‘LeTV’, which had originally achieved a three-way limit, also issued a huge amount on the daily limit, and it quickly fell down.

At the same time, stocks such as Wangsu Technology, Huayi Brothers, Huaqingbao... all fell.

At 9:53, the rapidly ebbing hype spread to the ‘big finance’ field.

I saw that the indexes of the 'Securities', 'Banks', 'Insurance' and 'Internet Finance' sectors also fell rapidly, and the pressure on the market increased instantly.

At 9:55, "Oriental Fortune", a heavily weighted core stock in the field of "Internet finance", recovered its 5-point gain at the beginning of the session and almost fell to near the flat price.

At 9:56, the securities sector index fell back to a 3% increase.

At 9:57, the stock of 'Great Wisdom' broke through the daily limit, but in less than 3 seconds, another 100,000 orders were placed to seal the daily limit again.

At 9:58, the Shanghai Stock Exchange Index fell back to within 1%, and the Shenzhen Stock Exchange Index and ChiNext Index fell to less than 5%.

At 10:02, the core leading stock in the brokerage sector, 'Western Securities', issued a huge amount on the daily limit board, with hundreds of thousands of consecutive sell and sell orders.

However, just when everyone thought that the check from ‘Western Securities’ would explode.

After the selling of more than 100,000 consecutive large selling orders, nearly 200,000 buying orders were immediately followed, quickly blocking the buying channel and continuing to seal the daily limit.

At 10:03, when the large group of investors who were paying attention to the stock of "Western Securities" saw that the number of orders for this check increased rapidly after a sharp decrease, they knew that there was no hope of opening the market, so they couldn't help but stop selling. The impulse, and other buying funds that planned to cancel the order at the daily limit, also quickly gave up the plan to cancel the order, and looked forward to buying the chips they wanted at the daily limit price.

At 10:04, the securities sector index rose further and fell back to about 2%.

At the same time, 'Blue Stone Reload' continued to fall rapidly by 5 points, and the market decline expanded to 33%. The intraday amplitude reached nearly 16 points, and a lot of funds for this stock were taken on the daily limit today, and at this moment, losses It has reached 16%, which is extremely tragic.

After ‘Leiman Optoelectronics’ blew up the market, at this moment, the market gain also fell back to 4 points.

There are also a number of popular stocks in the main line of 'technology growth', such as the 'LeTV' check. The market decline at this moment has also fallen from the daily limit to around 5 points, and in half an hour, the intraday transaction of this check Well, it has already reached the 1 billion level.

At 10:10, the divergence trend between the two markets became more and more obvious.

During the consecutive sharp rebounds in the previous three trading days, capital groups with huge short-term profits began to take profits at this position and sell a large number of chips.

At 10:20, the Shenzhen Stock Exchange Index, ChiNext Index, and Small and Medium-sized Enterprises Index fully recovered their early gains and fell back to near flat trading, showing a pattern of violent fluctuations.

At the same time, the securities sector's gains fell back to 5%.

For the two major sectors, banking and insurance, the intraday gains have swallowed up the gains made at the beginning of the session, and have fallen back to their opening positions, which are 4% and 63% increases.

As for the 'Internet Finance' sector index, its performance was in line with the securities sector, with the increase falling back to 42%.

As the growth rates of several core sectors of 'big finance' fell sharply, at this moment, the main capital flows of several major sectors also gradually turned from large net inflows at the beginning of the market to outflows.

Of course, it is not just the main capital flows in the direction of 'big finance' that are beginning to show outflows.

In other popular main lines of the market, capital flows are also showing outflows at this moment.

At 10:25, while many main lines that had rebounded sharply in the past few days were experiencing corrections and shocks, core main lines such as "infrastructure" and "military industry" that had been weak in the past few days began to gradually strengthen at this moment.

Many active capital flows that have withdrawn from the main areas such as 'big finance', 'technological growth', 'sub-new stocks', and 'sports industry development' have begun to pour in at high and low levels. In the past few days, they have clearly lagged behind the market performance, and there is a need to make up for the increase. Markets in the fields of 'infrastructure' and 'military industry'.

At 10:28, the China Airlines heavy plane suddenly pulled up in a straight line.

At 10:29, stocks such as Fushun Special Steel, China Airlines Optoelectronics, Hongdu Aviation, and Aerospace Development followed suit and rose.

At 10:30, early popular concept stocks in the "big infrastructure" field such as Shanghai Construction Engineering, Beijiang Communications Construction, Huaxin Cement, etc. also moved one after another.

10:35, 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', 'Reform and Reorganization of Central and State-owned Enterprises', 'Shanghai Free Trade Zone', 'Yangtze River Delta Economic Belt', 'Pearl River Delta Economic Belt' ' and other related stocks in the main areas of popular concept themes in the early stage, such as Yingkou Port, Pudong Development, Shenzhen Development Bank... etc., have also moved upward one after another, ushering in the attention and speculation of many major funds.

At 10:40, when the main lines such as "infrastructure" and "military industry" were fully changed, they took over the market conditions and drove the market to rotate on the main lines.

The broad group of investors who are legitimately paying attention to the market.

It is believed that today's market is an obvious divergence market, and it is believed that the core main line 'big financial' related sectors, and their corresponding core stocks, will fluctuate violently, digesting short-term profits at intraday lows.

The check from 'Oriental Securities', which had originally fallen from a high of 6 points, to a 2-point increase.

Suddenly, a continuous wave of large buying orders erupted on the market again.

Moreover, the buying orders for this stock continued to sweep up the selling orders in an extremely strong manner.

At 10:41, the stock price of Oriental Securities rose by more than 3 points in a straight line, with the intraday increase returning to 5%, and within one minute, the volume was 7.5 billion.

At 10:42, the stock price of Oriental Securities continued to rise in a straight line, hitting a new intraday high, reaching more than 8 points, with a volume of 4.6 billion in one minute.

At 10:43, before everyone could recover, the stock price of Oriental Securities had already hit the daily limit, and the daily limit was sealed in a flash. The volume in one minute reached 2.3 billion, and in three minutes, the total transaction volume reached 700 million. Above, the intraday transaction volume totaled more than 1.5 billion.

At 10:44, Oriental Securities completely sealed the daily limit.

At 10:45, thanks to the extreme explosion of 'Oriental Securities' and the main daily limit, the entire securities sector, as well as the banking, insurance, and Internet finance sectors in the 'big finance' field, began to recover rapidly, and related sector indices began to pick up rapidly. The volume increased.

At 10:46, thanks to the collective rebound of "big finance", the Shanghai Stock Exchange Index also rose rapidly.

At 10:47, the securities sector index returned to the 5% intraday increase position, and the main capital flow within the sector once again changed from a net outflow state to a net inflow state. The differences in the market funds were not small, but the bulls Funding eventually prevailed.

At 10:48, Huaxin Securities, Huatong Securities, Huatai Securities, Huashang Securities... a number of heavyweight securities stocks rebounded one after another, and in terms of market performance, the amount of main buying funds also broke out again, and the intraday lows were taken over There are endless funding groups.

At 10:49, the stock of "Oriental Fortune" in the "Internet Finance" sector returned to the 5% increase position during the day. At the same time, its market value exceeded that of Wangsu Technology and LeTV, ranking among the entire GEM. Refers to the weight component stock ranking first in market value.

At 10:50, under the influence of the securities and Internet financial sectors, they rebounded and counterattacked.

Insurance, banking and other sectors have also begun to rebound.

At 10:51, driven by the overall recovery of "big finance", the "big consumption" field has also picked up, and heavyweight stocks such as Qianzhou Moutai, Gree Electric Appliances, and Midea Electric have rebounded one after another.

At 10:52, the early main lines such as 'infrastructure' and 'military industry', which had rebounded during the session, fell from the intraday highs one after another as 'big finance' continued to siphon active funds from the market. A number of concept stocks and early leading stocks in the field that had been rising rapidly before have also shot up and fallen back one after another at this moment, and the amount of selling funds on the market has greatly increased.

At 10:53, 'Bluestone Reload' was stimulated by the recovery of the main line of 'Big Finance'. The decline quickly returned to the red market stage from the lowest position of 56%, but it was no longer able to attack.

At 10:54, the securities sector rose during the day and hit the 3% mark again.

At 10:55, the Shanghai stock index's rise, driven by "big finance", once again returned to the 1% increase position. The market failed to "switch high and low" and seemed to quickly return to the original market rhythm.

"Damn it, the 'Big Finance' line, especially the 'Securities' sector and the 'Internet Finance' sector, are so strong. Looking at the trend of these two sectors, they refuse to adjust. The differentiation is over so quickly. ” At 11:02, inside the Zexi Investment Company in the Magic City, in the main fund trading room, Zhou Kan stared at the market changes in the two cities with obvious surprise. He was a little shocked, turned his head and glanced at Xu Xiang, and continued. He said, "Boss, looking at this, it should be difficult for 'Big Finance' to adjust downwards, right?"

Xu Xiang stared at the real-time changes in the market of the two cities. He was silent for a moment, nodded, and said: "The active capital flow in the direction of 'big finance' is more rapid than we expected. A lot of funds are not waiting for securities at all." The core stocks in the two sectors, Internet Finance and Internet Finance, cleared their profit margins in the past few days and ran away one after another."