Rebirth of the investment era

"I also agree with Manager Zhao's suggestion." After Zhang Guobing finished expressing his thoughts, Liu Yuan also said actively, "'Eliminate the weak and retain the strong' within the main line sector, while keeping the weight of each major main line position unchanged. , it should not be considered a violation of the overall strategic investment policy that Master set for all of us before he left."

"Actually, with the bull market pattern of the market, the certainty is getting higher and higher, as the logic of the core line of 'big finance' becomes clearer, and as the market liquidity becomes more and more abundant..." Zhu Tianyang mused. For a moment, he also said, "As the market trading time goes by, the gap between the market trends of strong popular stocks and marginal relatively weak stocks will only become wider and wider. We will further concentrate our positions and continue to 'eliminate the weak and retain the strong'." ’, and it is also in line with the development and changes of the market conditions, so there should be no problems.”

"Yes." Wang Can nodded and said, "For example, the current market trends of the three stocks of 'Tonghuashun, Great Wisdom, and Oriental Fortune', which are also core components of the 'Internet Finance' sector, are different from those of other stocks. The gap in market trends has obviously widened.

There is also the securities sector.

For example, the growth gap between popular heavyweight stocks such as Western Securities, Huazhong Capital, and Huaxin Securities, and relatively weak securities stocks such as Founder Securities, Northeast Securities, and Hardou Securities is almost more than 50%.

Analyze the market trends of different core stocks with the same main line.

On the premise that the investment logic of the main market has not changed significantly, and the relevant logic continues to strengthen, further concentration of positions will obviously be more conducive to us capturing excess market profits. "

Li Meng listened to everyone's opinions, then looked around at everyone, and said with a smile: "Since everyone agrees, then under the basic condition that the overall position weight of the major main lines remains unchanged, the response to the recent continued underperformance of the market index will be Constituent stocks, further reduce positions and take profits, and then further concentrate the reduced positions on heavyweight stocks with good main trend trends and good expectations, and continue to outperform the market."

Everyone nodded under Li Meng's instructions.

Then, the main fund product trading managers and the trading team leaders quickly communicated the relevant trading instructions to the traders in the trading room according to Li Meng's trading strategy.

And when the relevant trading order is issued.

At this time, the market's trading time has already entered 9:20.

After an initial call auction that lasted for five minutes, at 9:20, the entire market entered the real call auction phase where orders cannot be canceled.

After numerous false orders, orders were canceled on a large scale within one minute from 9:19 to 9:20.

The real market situation finally emerged.

It is obviously much better than the market situation presented at 9:16.

On the whole, among the more than 2,000 stocks in the two cities, there are still more than 1,800 stocks, maintaining a red market status, and the industry sectors and concepts related to the three core main lines of 'big finance', 'big infrastructure' and 'military industry' Sectors also still led the gains in the two cities’ industry sectors and concept sectors.

However, the index increases of relevant industry sectors and concept sectors have expanded compared to 9:16.

That is to say, after a large number of false pending orders were withdrawn, the bullish power shown in the market, compared to 9:16, not only did not weaken, but actually strengthened.

This also illustrates the large number of false orders and cancellations.

The main force for canceling orders is still mostly selling orders, while there are relatively few cancellations of buying orders.

Of course, this also shows that most of the investors holding positions in the market at this moment are relatively reluctant to raise and sell the chips in their hands.

"Hey...compared to the performance of the two cities before 9:20, not only has it not weakened, but it has intensified. This is really surprising." At 9:21, in Shanghai, Zexi Investment Company, the main fund transaction In the room, Zhou Kan, who had been observing the changes in the market prices of the two markets, had a slight flash of surprise in his eyes. He subconsciously turned his head and glanced at Xu Xiang, who was aside, and continued, "The entire market seems to be a little reluctant to raise funds. Many popular stocks The stock price is rising steadily, but there is no obvious increase in the volume of energy on the market.”

Xu Xiang squinted his eyes and took a closer look at the changes in the market, and responded: "Under the stimulation of multiple positive factors, the market's long expectations are basically consistent. Under such expectations, it is certain that there will be some reluctance to raise funds on the market." Yes, but after the market officially opens, the funds that should be sold will still be sold, and... looking at the call auction trend of the market, I am afraid that the opening of the market will be the peak of emotions for the day."

"What the boss means is... if this call auction pattern continues and the market opens significantly higher, which will directly reflect all the market expectations in one go, there is a high probability that after the official opening of trading, the market trend will not be sustainable? Zhou Kan thought for a moment and understood the meaning of Xu Xiang's words, "Boss, do you think the market has opened too high? After overdrafts are expected to be positive, there is a high probability that it will open high and go down, right?"

Xu Xiang smiled and said: "It's hard to say. It depends on the holding power of the long capital groups in the market. It may not necessarily open higher and go lower. It's just that the Shanghai Index is still relatively sensitive at this position, and it has exceeded 3,500 points. The position was still attacked a little too hastily. There were a large number of short- and medium-term profit orders and recent unwinding orders, as well as historical hold-up orders that floated out... These floating chips were not fully cleaned by changing hands.

There are these floating chips that act as distractions and resistance to the movement in the market.

The Shanghai Stock Exchange wants to continue to make room for rapid upward movement. Even with the help of the continuously enlarging incremental capital group, the pressure is still very high.

Of course, if short-term factors are excluded.

The market is still in good shape in terms of mid- to long-term trends.

And it is certain that the 3500 point position is definitely not the end of the bull market. "

"Yeah!" Zhou Kan nodded and said with a genuine smile, "In the past half month, the indexes, especially the Shanghai Stock Index, have indeed attacked too quickly. However, the market's volume can explode quickly, as well as the changes in market investment confidence and investment sentiment. The speed is faster, so the bullish power supporting the market's continued breakthroughs should be relatively solid, and the Shanghai Stock Exchange Index will most likely be able to quickly reach new market highs under the stimulation of these bullish powers."

"I hope so!" Xu Xiang nodded slightly.

"That's it..." Zhou Kan paused, and then said, "There is something wrong with the call auction trend of the 'Huake Shuguang' check. It is estimated that it will drag down the hype of the entire 'sub-new stock' line, and drag down the entire market. Be consistent in long sentiment and expectations!”

Xu Xiang took a look at the collective bidding trend of 'Huake Dawn' and responded: "Today's collective bidding trend of this check is indeed slightly lower than expected. The market situation is so good, this check actually opened at a low price, and directly hit a new high It has reached a new low since the market opened.

However, as long as the check of "Blue Stone Heavy Equipment" on the line of "sub-new stocks" can be stable.

There won’t be much of a problem with the ‘sub-new stocks’ line.

The line "sub-new stocks" mainly represents the short-term speculation sentiment in the two cities.

There is no problem with the "sub-new stocks" line, so the market's short-term speculation sentiment will not be a big problem, and naturally it will not indirectly affect the market trends of several core main lines.

But still a word...

The market pressure of 3,500 points has not been truly resolved.

The short-term bullish sentiment in the market is too high, which will obviously cause the potential floating chip selling at 3500 points to flee intensively. In other words, although today's market looks good and everyone's expectations are high, the rising market pressure is still obvious. It's heavier than yesterday.

If today's market cannot further increase its capacity, the turnover of the two cities cannot further break through.

Then, there is a high probability that it will rise and fall back.

Of course, as the core main lines that support the market, there are several core main lines such as ‘big finance’, ‘big infrastructure’ and ‘military industry’.

Its market trend is under this situation and situation.

It is very likely that the active capital groups in the market will be further siphoned off. That is to say, if the market rises and falls, or opens high and moves low, the trend of the market's strong popular main lines and the weak conceptual main lines will be very high. It will be very differentiated.

The market trend of 'the strong always gets stronger and the weak always gets weaker' may also become more obvious. "

After Zhou Kan heard Xu Xiang's analysis, he nodded slightly and said: "I feel that the core main lines of 'big finance', 'big infrastructure' and 'military industry' continue to short-sell and rise, which is a bit of a squeeze on other parts of the market." The capital group continues to take orders, and the short-term main trend is to reach the top."

"Why do you say that?" Xu Xiang smiled, but did not refute.

Zhou Kan thought for a moment and responded: "Because the expectations of these core main lines are a bit too consistent. In the market, there are too many financial groups who are optimistic about these main lines. At the same time, here Several major main lines continue to be short squeezed and rising.

The number of profits it has accumulated has almost reached a sky-high level.

Also, the 'big financial' line, the upward trend line of many core sector indexes, is really too steep. It is generally difficult for this kind of technical form to retrace according to historical trends for a long time. "

"Yes!" Xu Xiang nodded and said, "The two lines of 'big infrastructure' and 'military industry' have actually been trading sideways at high levels for a long time, and have continued to digest the profit chips accumulated in the past half year. As for the 'Big Finance' line, after nearly a month of sharp rises, when this wave of concentrated benefits is released, it is indeed very likely that the opportunity node will be reached to stop profits in the short and medium term.

However, trend development is inertial.

As long as the "Big Finance" line has not exploded with extremely obvious and continuous huge transaction volumes.

This means that the chips in this major main line area have not been completely loosened yet. We can continue to wait and continue to wait and see for a while.

Like this extremely steep clear upward trend.

Even if the short- to medium-term trend reaches a peak, its disk shape will be very obvious and provide ample time and opportunity to take profits.

Therefore, we don’t need to be too anxious or worried at the moment. "

After saying that, Xu Xiang returned his gaze to the two markets again.

At this time, the trading time of the two cities has already reached 9:25, and the entire call auction time has completely ended. The fierce trading and rapid changes in the two markets have once again stagnated at this time. Come down.

And according to the two markets that have stagnated again.

You can see the continuous collective bidding for a total of ten minutes.

The Shanghai Stock Exchange Index opened higher at an increase of 89%, leaping past the new annual high set yesterday, and once again leaving a narrow upward jump gap, while the Shenzhen Stock Exchange Index and the ChiNext Index opened higher respectively. 63% and 48%, among which, the small and medium-sized index opened 42% higher, and the A50 index opened significantly higher by 12%.

According to the high opening trend of several major core indexes in the market, as well as the specific growth pattern.

It is possible to clearly perceive the market preference, and the specific scope of the money-making effect is still biased towards the direction of the weight of the main board and the direction of the A50 index constituent stocks.

In addition to the high opening patterns of several core market indexes...

In terms of the performance of the core main lines of the two cities and one city, the popular industry sectors and concept sectors of the city.

The main line of 'big finance' is still leading the market. Among them, the securities sector index opened 23% higher, leading the gains in the two cities and a number of industry sectors; the Internet finance sector index opened sharply higher by 52%, also leading the gains in the two cities. The city concept sector index, as for the two major weighted sectors of banking and insurance, also opened higher at 89% and 95%, significantly outperforming the higher opening of the Shanghai Composite Index.

The main line area of ​​‘big infrastructure’.

The industry sector indexes of 'building decoration, building materials, commercial real estate development, machinery and equipment, public transportation, and non-public transportation' that are strongly related to it all opened higher with an increase of 7% to 1%, or slightly higher. It is worse than the Shanghai Composite Index, or slightly stronger than the Shanghai Composite Index. Overall, it is still at the forefront of the two cities' gains and is a relatively strong industry sector.

As for the conceptual theme sectors related to it, such as "real estate development, cement, high-speed rail", several major concept theme sector indexes have opened higher with an increase of more than 1%, ranking at the top of the conceptual sector growth lists in the two cities.

The main line field of ‘military industry’.

Whether it is the 'national defense industry' industry segment, or 'domestic large aircraft', 'nuclear power', 'Beidou navigation', 'military-civilian integration', 'military asset reform and reorganization', 'military asset securitization'... and many other related concepts For the theme sector, its high opening gains were all above 1%, outperforming the broader market index across the board.

In addition to these three core main lines, there is also the branch line of "sub-new stocks".

It is still strong.

The growth rate of its concept sector index opened sharply higher at 13%, second only to the growth rate of the Internet Finance sector index, ranking second in the growth lists of conceptual theme sectors in the two cities.

On the contrary, it corresponds to the main market lines of "big finance", "big infrastructure", "military industry" and "sub-new stocks".

The main market lines of 'big consumption', 'mobile Internet', and 'smartphone industry chain', which were in a weak adjustment yesterday, have been fluctuating at the bottom. So far, they have not experienced a wave of smooth gains and got rid of the bear market situation. There are many low-level main lines such as 'non-ferrous cycle', 'petrochemical industry', and 'coal'.

Today's opening performance is still significantly weaker than the performance of the broader market index.

In other words, based on the opening situation of the two cities, it can be seen that the market is still in a market pattern of 'the strong will always be strong', and the active capital groups are obviously further moving towards the 'big financial' which has a strong money-making effect. ', 'big infrastructure', 'military industry', 'sub-new stocks' and other main signs of convergence. (End of chapter)