Rebirth of the investment era

Fang Xinsheng heard Liu Xin's rather puzzled words, smiled, and responded: "It's not that the stronger the sentiment at the opening, the greater the opening range of the index, the greater the hope that the subsequent market will strengthen.

We all know that the market plummeted the day before yesterday.

The main reason is due to the heavy short-term profit-taking and arbitrage selling pressure in the market within this index range. This shows that the upward pressure on the index in this range is heavier than we previously thought.

After the market's adjustment trend in the past two days, a lot of short-term profit-taking and unwinding has been digested.

But its substantial pressure still exists.

Especially within the range of 3250 to 3300 points, the market fell rapidly within this range the day before yesterday and did not stop much. In other words, the profit taking, unwinding and digestion of transactions in this range did not occur before. How ideal.

Since the profit-taking and arbitrage selling pressure in the Shanghai Composite Index range from 3250 points to 3300 points still exists in substance.

So, if you do not go through a full change of hands, but rely directly on the pre-market bullish sentiment to open higher and break through the main plummeting range where the turnover rate was very low during the previous day's plummeting trend, do you think you can stand firm under the heavy selling pressure? ?

Obviously this is not possible. After all, the long-term capital groups cannot follow up so quickly.

What's more, if the index opens too high, many potential long capital groups who are originally reluctant to take on the pursuit of high prices will hesitate when they take on the move.

So, until the pressure from above is substantively resolved and digested.

The bullish sentiment brought about by the good news should not be too strong. At the same time, the market should not open too high, which will lead to the inability of subsequent funds to follow the trend.

Once the attack is too fierce, potential long capital groups will follow the trend and fail to keep up.

Then, if the sentiment turns from strong to weak, it will hurt the market's entire long confidence, making potential long capital groups even more hesitant to follow the trend. "

"Well, Mr. Fang is right." Mou Zhengxing, the product manager of the company's 'Manniu No. 2' fund, who was sitting next to Fang Xinsheng, thought for a moment, then nodded with a smile and responded, "Whether it's the market or the mood, it has to be done step by step. Otherwise it will always be too much and not enough.”

The market plummeted the day before yesterday because the market's bullish sentiment was overheated.

The two cities' continuous short squeezes resulted in the failure to fully digest the excessive profits and arbitrage accumulated in the short term, thus exerting a huge suppression on the upward trend of the index and the development of the main line market trend.

This is also true for the intraday market trend.

If the opening mood is overheated and the index opens too high here, then the selling pressure on the market will inevitably increase further, suppressing the market, and at the same time restricting the entry of many potential long funds that are unwilling to pursue higher prices, which will instead cause the index to And there is a huge risk of the market rising and falling.

Today, the market is open like this.

That is to say, the high opening situation is maintained, showing the strong attitude of the bulls.

At the same time, the opening range is not very large, and it does not really touch the area of ​​profit-taking and arbitrage selling pressure that is the heaviest above, and does not cause excessive selling pressure from potential short forces. It is obviously helpful for the market to open after the official opening. Bullish sentiment and potential bullish capital groups have further fermented and followed suit.

This is what Fang Xinsheng said, which is slightly inferior to the expected opening form before the market.

On the contrary, you can take a closer look at the underlying logic and reasons for the subsequent market trends.

"So that's it!" After listening to the two people's explanations, Liu Xin suddenly realized, "I thought that this opening situation was already a manifestation of the market's weakness."

"However, Mr. Fang, the active capital flow in the market today, the core main directions and popular sectors that the majority of investors are focusing on, compared with yesterday, are obviously scattered!" Mou Zhengxing paused for a while, then continued, "If last night Supported by the good news, the two main lines of 'infrastructure' and 'military industry', as well as the related main lines of concepts such as 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises' , if we cannot form a consistent long-term force with the core main line of 'big finance'...I am afraid that today's market trend is still not optimistic, right?"

Fang Xinsheng nodded slightly and responded: "The problem should not be big. The overall liquidity of the current market is still very abundant. The market turnover of more than 700 billion can support the simultaneous outbreak of several major main lines of market, and several The interactive rotation of the core main lines is also obviously beneficial to the overall development of the market and the deepening of the 'bull market' pattern.

That is... the current two main lines of 'infrastructure' and 'military industry', as well as the weights of several major conceptual themes such as 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises' The position of stocks and popular stocks is still a bit high.

I always feel that there are some issues with the space and time for adjustment.

But now that the 'Yu Hang Group' has made a comeback in this field, and in terms of macro policy news, there are indeed a lot of good news one after another, as well as the overall 'bull market' pattern and 'bull market' expectations of the market, it is indeed It continues to deepen, so...even if there is still a little hesitation in my heart, I can only respect the market. "

Hearing this doubt in Fang Xinsheng's mind, Mou Zhengxing looked stern and asked: "Fang always feels that... the two main lines of 'infrastructure' and 'military industry', as well as the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road' In the overall general direction of these major concepts and themes, such as "road" and "reform and reorganization of central and state-owned enterprises", the adjustment may not be over, or... is there a high probability that it will return to the low point of this round in the future?"

"I'm not sure!" Fang Xinsheng sighed softly and continued, "There is no substantial logical support. This is just my feeling. Generally speaking... the main lines of 'infrastructure' and 'military industry' at this time, As well as the main themes of the entire 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', 'Reform and Reorganization of Central and State-owned Enterprises', 'Shanghai Free Trade Zone' and other conceptual themes, in terms of certainty, it is still obviously inferior to 'Big Finance' line."

"If that's the case, then why are we analyzing so much?" Liu Xin didn't understand for a moment and said with a smile, "Can't we just continue to hold heavy positions and hold the chips of the main line of 'big finance'?"

Fang Xinsheng responded: "Analysis still needs to be done. Let's not mention that our institution's fund products are single-linked on a core main line of the market. The fund's net value fluctuates too much. In case of extreme risks, it is not easy to stop losses. Let's just say,' The two main lines of "infrastructure" and "military industry", as well as the main lines of core concepts such as "Eurasian Economic Belt", "New Era Road, Maritime Silk Road" and "Reform and Reorganization of Central and State-owned Enterprises", have been the main themes of the market this year. The core driving force of the market.

If we cannot detect and understand the market trends of these core main lines and the general position of the current trend.

Then, once there is a relatively big change in the market conditions and the core main line switches.

We dare not rashly adjust positions and change investment ideas without clarifying the specific trend positions of other core main lines.

In this way... it will completely lag behind the market and even underperform the broader market index. "

"Xinsheng is right." Liu Xin heard this and nodded with a smile. He greatly agreed with Fang Xinsheng's opinion. "Since the funds of the 'Yuhang Department' can switch through the main line market at critical moments, , to harvest the market’s excess returns, then… I think we can definitely do it.”

After saying that, he turned his attention back to the market prices of the two markets displayed on the big screen in the trading room.

I only saw this time.

The market trading time has arrived at 9:30, and the two cities have ushered in the official continuous bidding trading period.

At the moment when the two markets just started to beat.

After a short five-minute emotional brewing from 9:25 to 9:30, and many major funds sorting out and analyzing the market during this time period, as soon as the market opened, the two main lines of 'infrastructure' and 'military industry' were related industry sectors, such as 'building decoration', 'building materials', 'commercial real estate development', 'steel', 'machinery equipment', 'public transportation' and other industry sectors, as well as those related to the 'Eurasian Economic Belt', 'New The concept sectors, which are strongly related to the three core concepts of "Times Road, Maritime Silk Road" and "Reform and Reorganization of Central and State-owned Enterprises", have all been collectively attacked by the main funds buying, and the sector indexes have risen rapidly.

At 9:31, yesterday's "Yu Hang Group" funds focused on buying the "China Railway" check, which instantly became the entire "big infrastructure", "Eurasian Economic Belt", "New Era Road, Maritime Silk Road" The stock price of several core leaders in the main fields has increased from a high opening of 1.22% to a high of 3.5%. In one minute, the stock price has increased by more than 2 points in a straight line.

And with the straight rise of the check of "China Railway".

Other "big infrastructure" main line core stocks, such as "Huaguo Railway Construction, Huaguo MCC, Huaguo Construction, Xugong Machinery, Sany Heavy Industry, China South Locomotive, China North Locomotive..." and other heavyweights Stocks also surged higher, showing an extremely strong rebound trend.

Of course, at this moment.

In these core main lines, a number of leading concept stocks suffered extreme selling and extreme slump the day before.

For example, stocks such as "Beijiang Communications Construction, Pudong Construction, Shanghai Construction Engineering, Shibei High-tech, Huaxin Cement, Bayi Steel..." have also risen rapidly.

Almost at the moment the market opened, the market's core main capital group, a large number of active short-term capital groups.

They are rapidly moving towards the two core main lines of 'infrastructure' and 'military industry', as well as core concepts such as the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises' that are directly impacted by the positive news. A large number of people gathered in the main theme area, and there was a crazy rush to raise funds.

And at these core main lines, the active capital groups at the beginning of the market were wildly devoured.

obviously……

Yesterday's "Big Finance" main line, which was the core force of the market rebound, especially the securities and Internet finance sectors that had fully reversed the previous day's decline, the buying power at the opening moment was not as strong as yesterday, whether it was sector index or sector At this moment, the internal core component stocks and the popular leading stocks with high market attention maintained the high opening range and fluctuated at the opening. There was no rush to pull up the price, and there was no long buying funds. It was obvious that the short selling was suppressed.

As for the main lines of ‘technological growth’ and ‘big consumption’.

And even other fringe main-line fields such as 'non-ferrous cycle', 'petrochemical industry', 'pharmaceutical business', 'agriculture', 'coal'... etc. that attract less capital attention and investor attention.

It refers to the strength of the main capital attack at the opening and the strength of active buying orders.

Compared with the main line of 'big finance', it is naturally weaker.

At 9:32, thanks to the active financial groups on and off the market, a large number of funds have invested in 'infrastructure', 'the main line of military industry,' and the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'reform and reorganization of central and state-owned enterprises'. The field of conceptual themes gathered together, and "Chengfei Integration", which continued to fall by the limit, suddenly ushered in more than 100,000 large orders of buying funds to buy the bottom.

At 9:33, the check for "Chengfei Integration" suddenly opened its limit under the surging large-scale bargain hunting, and the stock price rose straight up.

At 9:34, the entire concept sector index of 'reform and reorganization of central and state-owned enterprises' surged past 2%. A number of central and state-owned enterprises that meet the conditions for 'reform and reorganization' are facing violent funding rushes from all sources. The market trend is, It is completely different from the comprehensive plunge the day before yesterday.

At 9:35, the stock price of Chengfei Integration rose violently, and the intraday decline was reduced to less than 5%.

At 9:36, 'Huaguo China Railway', a core leading stock in the main line of 'big infrastructure' that was newly added to the 'Yuhang Group', rose sharply across the 5% mark during the day, and the transaction volume within 6 minutes also surged rapidly. It has increased to 700 million. Compared with yesterday's market trend and the same time period in the previous period, it can be said to be a huge explosion.

At 9:37, the popular stock "China Airlines Heavy Machinery" in the "military industry" sector expanded to about 7% during the day, and it was likely to hit the daily limit.

At 9:38, the check for 'Aerospace Development' also surged to 5%.

At 9:39, the Shanghai Stock Exchange Index rose comprehensively on the main lines of 'military industry' and 'infrastructure', as well as the main lines of conceptual themes such as 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises' Next, the intraday increase also expanded to a 1% increase.

At the same time, the Shenzhen Stock Exchange Index and the ChiNext Index also followed suit and rose, with an increase of nearly 1%.

And at a time when the early popular main lines of ‘military industry’ and ‘infrastructure’ are fully counterattacked.

The market's bullish sentiment and confidence, as well as the main funds' follow-up efforts to raise funds and continue to increase their positions, have also continued to increase, making the major weight lines of 'big finance', 'technological growth' and 'big consumption' also synchronized and rapidly The prices are rising, and they are all taking advantage of the momentum.