Rebirth of the investment era

"Oh, such a good external market trend has not stimulated the domestic market at all. I am really convinced!"

After seeing the fixed opening situation of the two cities, during the short suspension period between 9:25 and 9:30, a group of retail investors gathered in the discussion area of ​​the trading platform lamented that it was not as good as expected.

"It seems that the impact of yesterday's market trend is still very big. The main areas such as 'infrastructure' and 'military industry' have been hyped up in the early stage, and the main funds have declined sharply. In recent days, they have continued to rise sharply, but they have not been able to form substantial The main lines of breakthrough trends such as 'technological growth', 'big consumption', and 'non-ferrous cycle' have indeed entered a short-term correction trend again, and it is difficult to continue to open up room for upside."

"Based on the market shape at this opening, only the main line of 'big finance' can be seen."

"Sure enough, it is still 'the strong will always be strong'. The line of 'big finance' is really ridiculously strong, especially the core stocks in the securities sector and the Internet finance sector. They really refuse to adjust at all. They are either reaching new highs or are already at the top." It is on the way to a new high, and I don’t know why the main funds are so keen on following the trend of these two major sectors.”

"Isn't the logic different? The logic of the main line of 'Big Finance' is the logical expectation of a 'bull market'. Now... everyone has basically agreed that this is a bull market. 'Big Finance' is the pioneer sector of the bull market, and its early valuations are very low. It’s extremely low, and there is already a need to make up for the increase, so how can it not be stronger?”

"In terms of expectations, the expectations for the main lines of 'technological growth', 'infrastructure' and 'military industry' are not weak either!"

"The future expectations of the two main lines of 'infrastructure' and 'military industry' are indeed still very strong, but their current valuation levels and the height of their stock prices are already more than 40% higher than that of 'big finance' There is space, and these two main lines have risen too much in the past few months. Even if the expectations are strong, it is bound to make drastic adjustments, readjust the internal chip structure, and regroup the main funds and popularity, in order to finally get out of the market.

As for the line of ‘technological growth’.

I think many major funds in the current market still have some doubts about the logic of this core line, right?

After all, the core stocks within this major main line, even if the stock prices have been adjusted for almost half a year, are actually not low in valuation. For core stocks, such as 'LeTV, Wangsu Technology, Huayi Brothers', etc., the dynamic PE is still still high. At a valuation of more than 100 times, even if the performance growth rate is very high, when the core investment focus of the market is focused on the main line of 'big finance', and when the attack directions of the main funds in the market are somewhat differentiated.

It is still difficult to have large upside expectations and sustained market performance expectations!

Unless in the follow-up, such as the current third quarter and fourth quarter, the performance growth rate of the corresponding core stocks can exceed expectations, then the investment logic of the 'tech growth' line, as well as the future expected logic, will be affected by both on and off the market. The re-evaluation of the main funds of all parties has led to opportunities for correction of expected logic and valuation.

Therefore, according to the expected logic and valuation level, I feel that there are currently no more suitable investment opportunities in the line of ‘technological growth’.

The current line of ‘technological growth’ feels more like this.

Or due to the growth of market liquidity and the continuous adjustment in the early stage, the oversold rebound logic follows the logic of rebound rather than the logic of reversal. "

"It should not be the case. From the K-line technical analysis, although the 'Technology Growth' line is not as good as the 'Big Finance' main line, especially the trends of the securities sector and the Internet Finance sector, as well as the obvious trend of reversal, it is still There are signs of a reversal.”

"Isn't the 'Internet Finance' sector also a branch of the main theme of 'Technological Growth'?"

"It can't be calculated like this. The market trend of the 'Internet Finance' sector is more... still following the core logic of 'big finance', and the correlation with the market trend of the main line of 'technological growth' is not strong. The two But... we still can’t generalize.”

"I think that the performance turning point is not equal to the stock price turning point. There are definitely investment opportunities in the main line of 'technological growth'."

"To be precise, the performance turning point lags behind the stock price turning point."

"At least after Mr. Jia comes back, the market outlook for the 'LeTV' check won't be worse than before, right?"

"It won't be worse than before, but LeTV's continuous surge and rebound for many days will also close this expected gap? If the stock price of this check wants to rise in the future, it still has to be based on its A reversal of fundamentals is coming.”

"Sigh... Generally speaking, there are still many uncertain factors in the line of 'technological growth'."

"Looking horizontally and vertically, there should be no other main line in the market that has a clearer and stronger investment logic than the 'Big Finance' line."

"So do market trading, follow the trend, or chase stocks on the main line of 'big finance'?"

"To be precise, they are the core stocks chasing the securities sector and the Internet financial sector."

"But the location is really not low!"

"In this world, good things are not cheap. After all, everyone has sharp eyes. The opportunities you can see can also be seen by others. The main line of 'big finance' is so strong and sustainable. I On the contrary, I feel that pursuing stocks on the 'big financial' line is far safer than pursuing stocks on other main lines."

"From the logic that the strong always become stronger, this is indeed the truth."

"In a bull market, we must focus on the momentum. There is no problem at all in pursuing core stocks in the securities sector and the Internet financial sector."

"Moreover, it is foreseeable that in the second half of this year, especially in the third and fourth quarters, the performance of securities stocks, as well as many core stocks in the Internet financial sector, will definitely skyrocket, right? So these two popular sectors are actually going to It’s not just emotional hype, there are real fundamental changes and the core logic of changes in performance expectations.”

"This is natural. Otherwise, would the main financial groups be so crazy and continue to rush for high funds regardless of cost?"

"Continue to follow the stocks that were disclosed in the Dragon and Tiger List data yesterday. The main funds of institutions increased their positions on a large scale and rushed to raise funds. I feel that this direction is the safest direction for the market."

“Isn’t there a saying that the more divergent the market conditions are, the more funds will be concentrated on the core line?”

"In fact, judging from the market's historical trend performance, this is indeed the case."

"Then what else is there to say? Just continue to pursue core stocks in the securities and Internet financial sectors. As long as these core stocks have not shown obvious signs of peaking, the main funds holding positions within them have not yet carried out large-scale concentrated selling. If it goes out, you can continue to follow the trend and make orders.”

"Yes, what's more, the current entire securities sector, Internet finance sector, and Mr. Su's 'Yu Hang Department' are the main financial support."

“However, we still have to prevent the main line of ‘big finance’ from following in the footsteps of main lines such as ‘infrastructure’ and ‘military industry’!”

"The main lines such as 'Infrastructure' and 'Military Industry' have been rising for a consecutive quarter. Oh, no, it should be said that the main line of 'Big Infrastructure' has been rising sharply since the beginning of April in the first half of the year. If we consider 'Big Infrastructure' If the market development of the main line of finance is compared with the market development of these two main lines, it is obvious that the market development of the main line of 'big finance' has only just begun at present, and there is still a lot of room for subsequent market development."

"Yes, it is not required that the market development of the main line of 'big finance' reach the previous market height and duration of the main line development of 'big infrastructure' and 'military industry'. There is room for at least doubling of the index, right? Now it has risen the most The ferocious securities sector and Internet financial sector indexes have surged rapidly for more than a week, and they only have about 30% of the room from the bottom, so it is still early to double."

"Since ancient times, people who are afraid of heights have suffered. The more they dare not chase, the more they go up, and the more they feel cheap, the more they fall. Eliminate the weak and keep the strong, and concentrate on holding leading stocks. This is the true meaning of stock trading. No matter what you think about it, With the current market trend and the 'big financial' line, I am planning to continue chasing positions after the market opens."

"I will continue to follow the warehouse..."

"I have long wanted to buy the two stocks 'Western Securities' and 'Flush', but I haven't freed up my early positions. Yesterday I finally got rid of the weak stocks that I had been deeply involved in before. I will definitely follow up today."

"Mr. Su's 'Yuhang Department' funds have just entered the main line of 'Big Finance', and I continue to pursue positions. I don't believe that in this position, they can trap me to death?"

Amidst the heated discussion among everyone...

The short 5-minute suspension time is fleeting.

When everyone's eyes turned back to the stocks they were paying attention to, and focused on the core indexes of the two cities, the time had already moved to 9:30, and the two cities ushered in the official continuous bidding trading period.

I saw that the market prices of the two cities had just begun to jump rapidly.

The securities sector and the Internet financial sector, which have attracted much attention and focused the attention of countless investors, continue to open significantly higher, rapidly increase volume, and make rapid progress.

Among them, there are a number of popular core stocks within the two major sectors.

On the market of 'Western Securities', large orders of more than 1,000 lots were traded. Within one minute, its share price suddenly rose to more than 3%; and 'Flush', a core concept leading stock, its share price was even more Within one minute, the explosive volume reached the 8% increase mark, showing signs of continuing to hit the daily limit.

at the same time.

The two main lines are ‘infrastructure’ and ‘military industry’.

As well as a number of industry sectors and concept sectors that were oscillating around core conceptual themes such as the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', 'Reform and Reorganization of Central and State-owned Enterprises', etc., fell rapidly, and accumulated in the internal market. The main force continues to sell concentratedly.

Among them, they are also the core concept leading stocks that have attracted a lot of attention in the two cities.

The check of ‘Blue Stone Reload’, which once hit a maximum of 25 consecutive boards, reduced the intraday drop to about 5% within one minute.

Of course, it was affected by the check of ‘Blue Stone Reinstallation’.

Stocks such as ‘Fushun Special Steel’, ‘Aviation Development’, ‘Hongdu Aviation’, ‘Shanghai Construction Engineering’, ‘Beijiang Communications Construction’… also plummeted one after another, and the market decline expanded instantly.

And also at the same time.

The main line of 'technological growth' and branch concepts such as 'Internet software', 'Internet applications', and 'smartphone industry chain' have also declined one after another. However, the core concept of the 'film and television media' sector has maintained its position at this moment. The trend of flat market fluctuations, whether it is 'LeTV, Huayi Brothers, Enlight Media, Huace Film and Television, Yanjing Culture...' and other stocks, despite the fierce trading on the market, the long and short forces can still maintain a balance.

As for the main areas such as 'big consumption', 'non-ferrous cycle', 'pharmaceutical business', 'petrochemical industry'...

At this moment, although there is a downward adjustment trend, the quantity and energy have not expanded, but there are signs of shrinkage.

At 9:32, it only takes 2 minutes to open.

The 'flush' check, after a short period of consolidation, was suddenly pushed up to the daily limit by successive large orders of 10,000 lots.

And as the stock 'Flush' rushes towards the daily limit.

A number of stocks in the Internet financial sector, including Hengsheng Electronics, Oriental Fortune, Jinzheng Holdings, Yinjie Technology, Shanghai Steel Union, Changliang Technology..., also followed suit.

And the securities sector, banking and insurance sectors are all core component stocks.

They were also affected at the same time, and they all followed suit.

At 9:33, only 3 minutes after the opening, Flush closed the daily limit. Within ten seconds, the number of orders reached more than 200,000, and the trading volume was strong, but there were obvious signs of shrinkage.

With the 'flush' check, the daily limit was sealed.

The entire main line of "big finance", whether it is the Internet finance sector, or the securities, banking, and insurance sectors.

The frequency of changes in the corresponding component stocks is even more frequent.

Among them, the stock price of "Western Securities" rose linearly, further expanding the market increase to more than 5%, refreshing yesterday's intraday height, as well as the year's new high position, launching a charge towards the all-time high.

At 9:35, while the main line of 'big finance' was frantically further siphoning off active and major capital groups in the market, 'Bluestone Heavy Equipment', the core conceptual leading stock, further fell and adjusted, with its stock price falling from 5 % decline, jumping towards the lower limit position.

At the same time, there are two core main lines of ‘infrastructure’ and ‘military industry’.

As well as the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises', a number of conceptual themes have also been greatly affected, and the stock prices of corresponding core component stocks have fallen further.

At 9:40, the Shanghai Stock Exchange Index was violently attacking the main line of "Big Finance". Under the high pressure, it passively rose to an increase of more than 5%, while the Shenzhen Stock Exchange Index and the ChiNext Index gradually fell back, and instead fell down. into the water.

At this moment, the market prices of the two cities once again showed a clear-cut market pattern.

That is to say, the main line of 'big finance' is still strong and continues to lead the gains of the two cities; the main line of 'technological growth' is behind, and continues to diverge and fluctuate, with extremely intense long and short interweaving; 'big consumption', 'non-ferrous cycle', 'petrochemical industry', The main lines such as 'Pharmaceutical and Commerce' shrank and fluctuated, trading near the flat position; the main lines of 'Infrastructure' and 'Military Industry' continued to show a concentrated selling trend with the main funds continuing to ebb on a large scale, and the corresponding core stocks accelerated their declines, and the weak The form remains the same, and continues to lead the decline in the industry sector and concept sector of the two cities.

Faced with a strong sense of hierarchy, clear strength and weakness of the main line, and a clear market trend pattern.

At 9:45, at this moment, Yanjing, Shanghai, Shenzhen, Jinling, Yuhang... and other important core cities in the country, a group of major institutional investors who are currently gathering in other non-'big financial' main lines, As well as large hot money groups, they have also begun to further follow the trading rules of 'eliminating the weak and retaining the strong, and the strong will remain strong'. They have sold off the weak main line chips in a large scale and fully focused on the main line of 'big finance', especially the securities sector and Internet finance. On the core stocks of the sector, we pursue high prices and rush to raise funds regardless of cost. (End of chapter)