Rebirth of the investment era

Faced with such an opening situation in the two cities.

The broad investor base inside and outside the market is somewhat disappointed.

After all, yesterday, whether it was the data on the dragon and tiger rankings of the two cities, the data on the two financial markets, or the external market trends, the various good macro news... were all very beneficial to the bulls, but in the end the market did not open significantly higher. Slightly red, obviously lower than expected.

"Hey, I'm disappointed. I thought the Shanghai Stock Index could open higher by more than 1 point, but I didn't expect..."

"Who says it isn't? It's all in vain."

"Why is it that the market sentiment is so good, but the call auctions of the two cities are so different?"

When the time entered the short suspension period between 9:25 and 9:30, a group of retail investors gathered in the stock discussion area of ​​the trading platform, a heated discussion broke out, and in their words, they expressed their opinions on the market. Everyone was a little dissatisfied with the opening scene.

"Maybe there are too many profit-taking orders in the market, so the market is suppressed."

"Such as 'big consumption', 'non-ferrous cycle', 'petrochemical', 'pharmaceutical'...these main lines sectors should not have much profit margin, right?"

"The main accumulation areas of profit taking are mainly the core main areas of 'big finance', 'big infrastructure' and 'military industry'. It stands to reason that the suppressive effect of profit taking will not have such a big impact on the market index. Yes, but the current market index has basically been kidnapped by the core main lines of 'big finance', 'big infrastructure' and 'military industry'?"

"But although the index opened a little lower than expected, it still opened higher, right?"

"That's true. There is no obvious money-losing effect in the market."

"Yes, the vast majority of popular stocks and leading concept stocks open higher."

"This shows that the current market acceptance is still very good, right?"

"The short-term funding divergence actually has no impact. The market is definitely still in a bull market. The expectation that the Shanghai Stock Exchange Index will hit 4,000 points by the end of the year remains unchanged."

"No matter how the short-term market trend goes, if you have money, you can continue to increase your position. If you don't have money, just keep it full."

"Hey, the warehouse is already full."

"Actually, a bull market does not mean that the market will continue to rise. Sometimes a brief correction is not impossible."

"The correction, despite the correction, I dream about the market falling back to 3,000 points, so that I can increase my position in a big way, and give me another chance to get on the train."

"Yes, as the saying goes, if there is a disagreement, the market will follow. If you don't sell profits, how can there be so many chips in the market?"

“Holding stocks in a bull market is bound to be turbulent and volatile, but as long as you ‘stick to the green hills and don’t let go’, no matter how the market fluctuates, if you don’t sell anyway, then the main force won’t be able to get rid of me.”

"What kind of bull market can't only last for a month, so we can continue to be optimistic about it."

"The monthly line of the Shanghai Stock Exchange Index is now a golden cross, right? If you don't believe in this form, it will continue to rise."

"I agree, just continue to look long and do long."

Amidst the heated discussion among everyone...

The opening pattern, which seemed to be significantly lower than expected, did not really hurt the market's bullish sentiment.

From the discussions among the large number of retail investors gathered in the stock discussion area of ​​the trading platform, it can be clearly felt that everyone's enthusiasm for doing long in the market is still strong.

It is almost unanimously believed that the Shanghai Stock Exchange Index can continue to short-squeeze and rise, and continue to hit the upper 4,000 points.

Just under this kind of emotion brewing.

The short suspension time from 9:25 to 9:30 passed by in a flash.

Immediately afterwards, the time reached 9:30, and after a brief suspension, the two cities once again ushered in formal continuous bidding transactions.

When the two markets once again went from stagnant to intense trading, assisted by the still strong bullish sentiment, as soon as the market opened, a huge amount of active buying power was under the influence of the sentiment. They continue to pour into the market on a large scale into the core main fields of 'big finance', 'big infrastructure' and 'military industry', and they continue to chase the heavyweight stocks and popular concept stocks in these core main fields.

At 9:31, the Shanghai Stock Exchange Index, Shenzhen Stock Exchange Index, ChiNext Index, Small and Medium Enterprises Index, and A50 Index rose one after another.

At 9:32, the "Blue Stone Heavy", which opened sharply lower, suddenly turned red.

At 9:33, a number of popular sectors such as securities, Internet finance, construction decoration, building materials, etc. all started to rise with volume.

At 9:34, CEFC Securities and Huaguo Construction's intraday gains broke through the 1% increase mark.

At 9:35, the two major sectors of securities and Internet finance rose rapidly again, and once again led the market's industry sectors and concept sectors.

At 9:36, the share price of Huake Shuguang surged to about 5%.

At 9:37, the 'National Defense and Military Industry' industry sector rose by more than 6%, ranking among the top five industry sector growth lists in the two cities.

At 9:38, in the 'Securities' industry sector, main funds once again showed a net inflow.

At 9:39, ‘Western Securities’ rose by 3% during the day.

At 9:40, the stock price of Harbin Investment Capital quickly hit the 5% increase position, leading the gains of all stocks in the securities sector.

At 9:41, ‘Great Wisdom’ rose by 3% during the day.

At 9:42, the stock price of 'Yingkou Port' hit the 5% mark. At the same time, the stocks of 'Shanghai Steel Union' and 'Shanghai Sanmao' also moved higher.

At 9:43, the Shanghai Stock Index rose by 78%.

At 9:44, the A50 index once again led the gains and broke through the 1% increase mark.

At 9:45, the stock price of Yingkou Port hit the 7% increase mark.

At 9:46, 'Flush' surged higher again, with the stock price touching the 5% increase mark for the day and once again approaching a new all-time high.

At 9:47, the securities and Internet financial sector indexes rushed to the 3% increase position.

At 9:48, the two major weighted sectors of banking and insurance also expanded their intraday gains to more than 5%.

At 9:49, the stocks of the 'four major banks' - China Commercial Bank, Huanong Bank, Huajian Bank, and Huaguo Bank - all turned red and rose. The entire banking sector and the main capital pattern once again showed a net inflow trend, showing a recovery from yesterday's Signs of losing ground during the intraday dive.

At 9:50, the stock price of "Shanghai Sanmao" rose by more than 7%.

At 9:51, ‘Huaxin Securities’ rose by about 5% during the day.

At 9:52, the stock of Harbin Investment Capital rose by 7% during the day and showed signs of hitting the daily limit.

At 9:53, the securities sector rose by about 5% during the day.

At 9:54, the major industry sectors of construction decoration, building materials, machinery and equipment, and port shipping all increased by more than 1% during the day.

At 9:55, the stock price of "Shanghai Sanmao" hit the daily limit.

At 9:56, the stock price of "Shanghai Sanmao" sealed its daily limit, once again leading the rise of the entire "Shanghai Free Trade Zone" concept.

At 9:57, following the daily limit of "Shanghai Sanmao", "Shanghai Steel Union" followed the trend and rose rapidly, and the stock price broke through the 6% increase mark in an instant.

At 9:58, all stocks in the "Shanghai Free Trade Zone" concept sector moved across the board.

At 9:59, the stock price of "Shanghai-Hong Kong Group" rose by more than 3% during the day, and "Shanghai local stocks" followed the trend and rose, siphoning the active main capital groups in the market.

At 10 a.m., the turnover of the two cities reached more than 270 billion.

At 10:01 a.m., the stock price of 'Yingkou Port' hit the daily limit, and several major conceptual themes such as 'New Era Road, Maritime Silk Road', 'Eurasian Economic Belt', and 'Revitalizing the Northeast' also continued to be active, one after another on the two cities. The public concept sector ranks at the top of the growth list.

At 10:02, ‘Yingkou Port’ sealed the daily limit and achieved a continuous trend.

At 10:03, the 'Securities' sector continued to surge, reaching the 2% mark. At the same time, the net inflow of major funds in this sector reached 700 million.

At 10:04, just like the fiery performance of the 'Securities' sector, the 'Internet Finance' sector's intraday increase also broke through the 2% increase mark.

At 10:05, the stock price of Huake Shuguang reached an intraday increase of 8%.

At 10:06, the A50 index rose 23% during the day.

At 10:07, ‘Great Wisdom’ had an intraday increase of 5%, and Flush and Oriental Fortune stocks both had an intraday increase of around 2%.

At 10:08, ‘Huagong International’ also changed again, with an increase of more than 3%.

At 10:09, the total net inflow of main funds in the entire 'Big Finance' main line weight sector reached the 1 billion mark.

At 10:10, in the field of machinery and equipment, stocks such as Sany Heavy Industry, XCMG Machinery, Liugong Machinery, Hualian Heavy Industry, and DaChain Heavy Industry... all moved higher.

At 10:11, ‘Huaguo Heavy Industry’ and ‘Huaguo Shipbuilding’ made unusual movements.

At 10:12, the entire port shipping sector rose by about 2% during the day.

At 10:13, ‘Fushun Special Steel’ rose by 5% during the day, and active buying continued, with a strong tendency to hit the daily limit.

At 10:14, the ‘commercial real estate development’ sector also moved rapidly.

At 10:15, two real estate stocks, Gemdale Group and China Land Development, rose by 3% during the day.

At 10:16, the entire three core main areas of 'big finance', 'big infrastructure' and 'military industry', as well as all related industry sectors and concept sectors, all achieved a red plate.

At 10:17, the total number of red stocks in the two cities reached more than 1,500.

At 10:18, the Shanghai Stock Index rose above 1% and continued to attack the new high point for the year, whether it was the index or one of the core main areas of 'big finance', 'big infrastructure' and 'military industry'. Various industry sectors, concept sectors, as well as many heavyweight stocks and popular concept stocks, have initially recovered all the retracement losses in yesterday's session, once again showing a strong short-squeezing breakthrough trend.

At 10:19, the turnover of the two cities exceeded 330 billion, continuing to show a slow increase in volume.

"Hey, we have really fully recovered yesterday's intraday plunge. It looks like... the market will probably continue to hit new highs today!"

At around 10:25, seeing that the market prices of the two cities continued to break through and continue to increase in volume, Yuhang, inside Minghui Capital Company, in the main fund trading room, the main fund product manager He Hong stared at the rapidly changing market prices of the two cities. There was a trace of surprise in his eyes: "Sure enough, in the main uptrend stage of the bull market, its short-term market trend cannot be inferred by common sense. Under this form, it can continue to break upward, which is somewhat beyond expectations."

Hear He Hong's sigh.

At this moment, Xu Zhongji, general manager of the asset management business of Minghui Capital, who happened to be standing behind him, laughed and said: "Generally, during the main uptrend stage, or the main downtrend stage, the technical form of the market will be more distorted, relying on technical aspects If you try to judge the market trend, you will most likely make a mistake.

but……"

Xu Zhongji paused and then said: "The index is at this position and continues to rise due to short selling, which obviously overdrafts the market's long strength and sentiment.

That is to say, the big benefits of the central bank's interest rate cuts and reserve requirement ratio cuts that everyone expected have not yet materialized.

The market's long tone has never been interrupted.

Therefore, the market can force a short squeeze to break through and rise when the differences between long and short funds are relatively large.

If the news of the central bank cutting interest rates and reserve requirement ratios comes to fruition... I am afraid that the market's strong short-term bullish sentiment will collapse instead. "

"Yeah!" He Hong nodded and said, "The so-called benefits are realized and expectations are fulfilled, but it will form the logic of phased benefits, right?"

Xu Zhongji responded with a smile: "This is indeed the logic. Therefore, the market continues to be shorted and rising at this time. We can no longer chase this market. Instead, we must pay attention to the news that everyone expects the central bank to cut interest rates and reduce reserve requirements. When will it happen?" It will really take off.”

"There is no clear news yet. It is estimated that we will have to wait until next week for clear news to come out." He Hong said, "After all, we have to wait for the news from the Federal Reserve to be clear before the country can take action."

Xu Zhongji said: "That should be the case. Regardless of whether this expected news can come true or whether the central bank can cut interest rates, the moment the news becomes clear, we should all start reducing our positions and taking profits."

"I think so too." He Hong nodded.

Now that the market continues to rise due to short selling, the differences between long and short are becoming more and more serious on the market, which makes the chips in his hand less stable.

What's more, it's the end of the year.

Although many institutions have the practice of adjusting positions and exchanging shares to plan for next year's theme market.

But there will also be many institutions that will liquidate their net worth at this juncture, such as the 'Yu Hang Group', the main fund that everyone is paying close attention to.

He Hong felt that this main force of funds would most likely reduce its positions significantly at the end of the year and carry out the final settlement of its net worth.

After all, that's as far as he knew.

The main institution of the 'Yu Hang Group' had previously borrowed a large amount of debt for investment in the primary market, and this part of the loan must be repaid at the end of the year.

And if the main funds of the 'Yu Hang Group' reduce their positions significantly at the end of the year.

Then, he thought... as the main lines of 'big finance', 'big infrastructure' and 'military industry' that are the core holdings of the main capital of the 'Yu Hang Group', the market is bound to experience violent fluctuations.

In other words, once the news of the central bank cutting interest rates and lowering reserve requirements comes to light.

The risk of subsequent market adjustments will rise sharply, and in terms of their choice of trading strategy, it is better to reduce positions immediately and take profits if they continue to hold positions. (End of chapter)

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