Rebirth of the investment era

At 10:33, in the food and beverage industry sector, leading liquor stocks such as Qianzhou Moutai, Wuliangye, Luzhou Laojiao... etc. showed a clear rebound trend. Among them, the stock price of Qianzhou Moutai rose to an increase of more than 5%. A large number of main funds were gathered to follow the trend and rush to raise funds.

At 10:34, Midea Electric Appliances, Gree Electric Appliances, Haier Electric Appliances... and many other white home appliance stocks continued to rise, with their stock prices rising by more than 1%.

At 10:35, the check for ‘Internet Speed ​​Technology’ increased by about 2%.

At 10:36, the GEM index's intraday decline narrowed to less than 7%. At the same time, in the main line of 'mobile phone intelligence industry chain', the 'Apple concept' sector suddenly emerged, such as 'Anjie Technology, Changying Precision, Xinwei Communications... 'A number of concept stocks have risen sharply.

At 10:37, ‘Huaguo Software’ emerged from deep water to become popular.

At 10:38, concept sectors such as ‘domestic software’ and ‘network security’ achieved a red-hot surge, and ranked among the top gainers of concept sectors in the two cities.

At 10:39, "LeTV" rose by 1% during the day, and the "Film and Television Media" industry sector rebounded.

At 10:40, the stock of Huake Dawn, which hit the daily limit, quickly narrowed its intraday decline to 7%. At the same time, a number of small and medium-cap technology concept stocks and growth concept stocks rebounded one after another. The market prices of the two cities And the mood continues to pick up.

At 10:41, the stocks of ‘Inspur Information’ and ‘Inspur Software’ rose by more than 2%.

At 10:42, the entire three main areas of 'Big Consumption', 'Mobile Internet', and 'Smartphone Industry Chain', related core industry sectors, and concept sectors all showed a net inflow of major funds, while the entire 'Big Finance' ', 'Large Infrastructure', 'Military Industry', 'Film and Television Media'... and other popular main areas in the early stage, the main funds continue to show a trend of substantial net outflows.

At 10:43, the intraday stock price decline of ‘Huake Dawn’ further narrowed to about 5%.

At 10:44, the stock price of 'Everwin Precision', the core concept stock of the 'Apple Concept' sector, climbed straight up during the day, rising by more than 5%, and drove other Apple concept stocks, as well as other small and medium-cap technologies. Growth concept stocks have rebounded intensively.

At 10:45, affected by the rebound of many low-level main lines such as 'big consumption', 'mobile Internet', 'smartphone industry chain', etc., 'big finance', 'big infrastructure', 'military industry', 'film and television media' ', 'sub-new stocks'... and other weak popular main lines have also begun to gradually rebound.

At 10:46, the stock "Blue Stone Heavy Equipment" began to move, and its stock price rose straight from near the lower limit. Within one minute, the decline quickly narrowed to about 7%.

At 10:47, driven by the rebound of the stock 'Bluestone Heavy Equipment', a number of main concept stocks in the military industry, such as 'China Airlines Heavy Machinery', 'Hongdu Aviation', 'Aerospace Development', etc., also followed the trend and rose. .

At 10:48, the securities sector index's intraday decline narrowed to 2%.

At 10:49, the main core sector indexes of "big finance" such as banks, securities, Internet finance, etc. also began to gradually rebound.

At 10:50, the Shanghai Stock Index's intraday decline narrowed to around 8%.

At 10:51, steel, real estate, public transportation, machinery and equipment, non-public transportation... and other industry sectors and concept sectors in the main line of "big infrastructure" also began to rebound.

Subsequently, the vast investor groups inside and outside the market, as well as various large financial groups.

Everyone thinks that the market has completed the main line transformation of 'high-low switching', fully released the risk of decline, and believes that the market will turn significantly during the day.

When the market trading time reaches 11 o'clock.

The securities sector, architectural decoration, building materials, national defense and military industry...all the heavy industry sectors in the popular main line fields have taken a sharp turn again.

At 11:01, the day's decline of 'Huaxin Securities', a heavyweight stock in the securities sector, once again expanded to more than 5%, and the day's turnover exceeded the 6 billion mark. Compared with yesterday, there was no obvious sign of shrinkage, and this check , in less than half a day of trading, the net outflow of main funds on the market has already reached the 500 million mark.

At 11:02, due to the continued weakness of the stock 'Huaxin Securities', the securities sector index also plunged. At the same time, 'Western Securities', 'Huazhong Capital', 'Harbin Investment Capital', and 'Huaxin Securities' , 'Xiangcai Securities'... and other popular securities stocks that led the securities sector to continue to rise in the early stage have also plunged lower again at this moment, encountering relatively strong continued selling.

At 11:03, the check of "Huaguo Construction", which was lower than the trading volume of "Huaxin Securities", also began to plunge rapidly, and at the same time, the time-sharing trading volume increased rapidly.

At 11:04, ‘CCP International’ fell again, and the intraday decline expanded to 5%.

At 11:05, the check for 'China MCC' was once again concentrated on selling by major funds, and the market decline expanded to about 6%.

At 11:06, the stocks of China North Locomotive and Rolling Stock Corporation Limited and China South Locomotive and Rolling Stock Corporation Limited fell sharply.

At 11:07, under the influence of the continuous net outflows of the main capital groups within the two core main lines of 'Big Finance' and 'Big Infrastructure', as well as the concentrated selling of many funds, the Shanghai Stock Exchange Index once again fell below the 1% drop mark during the day. At the same time, the Shenzhen Stock Exchange Index The declines in the GEM Index and the GEM Index also began to expand along with the trend.

At 11:08, the intraday decline of ‘Huaguo MCC’ ​​expanded to 7%, and it was likely to fall to the limit.

At 11:09, ‘Blue Stone Heavy Equipment’, which had been struggling to rebound, fell again and sealed the limit. At the same time, the ‘National Defense and Military Industry’ industry sector also followed suit and dived rapidly.

At 11:10, the intraday decline of ‘China Airlines Heavy Machinery’ reached 67% again and hit a new intraday low.

At 11:11, the check for 'Hongdu Airlines' suddenly fell rapidly, and the stock price went straight to the limit.

At 11:12, the stock price of Hongdu Airlines hit the limit.

At 11:13, the stock price of 'Hongdu Airlines' hit its daily limit. At the same time, 'Aerospace Development, China Airlines Heavy Machinery, Fushun Special Steel, DaChain Heavy Industry...' and other popular concept stocks in the military and nuclear power concept sectors were also They fell rapidly one after another and encountered extremely strong selling pressure.

At 11:14, the intraday decline of ‘Huaxin Securities’ reached 3%.

At 11:15, a number of heavyweight securities stocks such as 'Huashang Securities, Huatai Securities, Huatong Securities...' followed suit, and the intraday declines reached more than 3%. Among them, the most weak 'Founder Securities' intraday stock price fell. reached a range of 5%.

At 11:16, the two stocks of China Banking Corporation and China Commercial Bank also showed an obvious and rapid downward trend.

At 11:17, the A50 index's intraday decline expanded to more than 2%.

At 11:18, the two stocks "Beijiang Communications Construction and Shanghai Construction Engineering" suddenly hit the lower limit.

At 11:19, the concept of "Shanghai Free Trade Zone" fell rapidly, and the intraday decline of two stocks, "Shanghai Sanmao" and "Shanghai Steel Union" expanded to more than 7%.

At 11:20, a number of conceptual themes such as 'Northeast Revitalization', 'Eurasian Economic Belt', and 'Yangtze River Delta Economic Zone' all fell again and hit intraday lows.

At 11:21, the ‘Internet Finance’ sector also suffered another heavy setback.

At 11:22, ‘Great Wisdom’ hit the limit.

At 11:23, ‘Great Wisdom’ sealed the price limit. At the same time, the two stocks ‘Flush’ and ‘Oriental Fortune’ fell by more than 5% during the day.

At 11:24, the intraday decline of the two major sector indexes, the 'Securities' sector and the 'Internet Finance' sector, both expanded to more than 5% again.

At 11:25, the Shanghai Stock Index fell by 23%, and it was likely to hit a new intraday low.

At 11:26, the entire early hot topics such as 'big finance', 'big infrastructure', 'military industry', 'sub-new stocks', 'film and television media'... all suffered from concentrated selling by major financial groups, and almost In the major main line areas, the total net outflow of main funds reached the 8 billion mark.

At 11:27, the intraday decline of ‘Huaxin Securities’ expanded to 4%, and the intraday turnover reached 7 billion.

At 11:28, the intraday decline of the Shenzhen Stock Exchange Index and the ChiNext Index both expanded to more than 1%. Among them, the intraday decline of the A50 Index expanded to more than 5%.

At 11:29, the popular stock in the two cities, Flush, hit the lower limit.

At 11:30, when the two markets closed at noon.

I saw that the Shanghai Index was set at a 35% decline position, while the Shenzhen Stock Exchange Index and ChiNext Index fell by 16% and 07% respectively.

As for the A50 index, the decline at this moment has reached 73%.

On the contrary, the small and medium-sized index, which was clearly unable to outperform the broader market index before, has become a temporary safe haven for many short-term capital groups and various active speculation funds. It only fell slightly by 67% at noon.

In addition to the performance of the two city indexes...

Other industry sectors, concept sectors, popular main lines, non-popular main lines, related weight stocks, and related concept stock performance.

I can only see that the core and popular main areas of 'big finance', 'big infrastructure', 'military industry', 'film and television media' and 'sub-new stocks' in the early stage, as well as their related industry sectors and concept sectors, are still in the two cities. The core areas where the market performance is the weakest.

Among them, the securities sector index closed down 78% at noon.

The defense and military industry sector index closed down 49% at noon.

The building decoration and building materials industry sector indexes closed down 26% and 17% respectively at noon.

These major industry sectors are all the industry sectors that have clearly led the decline in the two cities, especially the securities sector. From the leading sector in the early stage, it has become the leading sector in the market in the past three trading days.

Of course, the most tragic ones have to be the ‘Internet finance’ and ‘sub-new stocks’ sectors.

At this moment, the 'Internet Finance' sector index has fallen by 29%. Among them, Great Wisdom has dropped to the limit, Shanghai Steel Union has dropped to the limit, Huake Financial has dropped to the limit, Flush has dropped to the limit... In the entire sector, a total of The number of individual stocks has reached as many as 7.

As for the sectors leading the gains...

It is obviously dominated by the three major conceptual themes of ‘big consumption’, ‘mobile Internet’ and ‘smartphone industry chain’.

Among them, in the field of "big consumption", the automobile industry sector, based on the midday closing results, still leads the gains in the two cities' industry sectors, attracting the attention of the vast majority of investor groups in the market at this moment.

Of course, the performance of the two major concept sectors of ‘domestic software’ and ‘Apple concept’ is also very good.

These two major concept sectors ranked among the top five most popular concept sectors in the two cities at the close of trading at noon. It can be said that they are advancing and retreating at the same time.

However, although the three major concept themes of 'big consumption', 'mobile Internet' and 'smartphone industry chain' performed relatively strongly in the morning, judging from the attention and trading volume of the main funds, these three major concepts In the main theme area, the total transaction volume of main funds is still in a state of net outflow.

This illustrates the main trend of the market’s ‘high-low switching’.

It seems that it has not been generally recognized by the major financial groups in the market, and it has not formed a relatively drastic and concentrated money-making effect.

"Well, it seems that the market is still not stable at this position!" Seeing the closing situation of the two cities at noon, at this moment, within Yanjing Yihe Capital Company, in the main fund trading room, as the fund trading team leader and fund manager Gao Xiang, the assistant manager, sighed helplessly, turned to Chen Yihe, the fund manager and general manager of the company, and said, "Mr. Chen, look at this situation, I'm afraid the market trend in the afternoon will have to fall further!"

Chen Yihe stared at the midday closing results of the two cities, pondered for a while, and sighed helplessly, saying: "Looking at it like this, the market development idea of ​​'switching high and low' has still not been achieved by all parties in the market. The recognition of the main funds has not formed general expectations in this regard!”

Gao Xiang nodded and said: "Generally speaking, the future expectations of the main concepts of 'big consumption', 'mobile Internet', and 'smartphone industry chain' are still behind the 'big finance' and 'big infrastructure'" ', 'military industry', there are many core main lines, and there is no way to stimulate everyone's expectations for fundamental changes in these core main line areas through emotional guidance. "

"So... we have to continue to implement conservative trading strategies." Chen Yihe said.

Gao Xiang nodded and said: "That's true. Since the market cannot form the logical line of 'high-low switching', then we naturally have to continue to reduce positions according to the original trading strategy."

"Alas, the market is still greatly affected by the continued large-scale reduction of positions by the main funds of the 'Yu Hang Group'." Chen Yihe said, "Everyone is worried that the 'Yu Hang Group' will continue to sell off chips on a large scale in the future, so They are all selling chips on a large scale, trying to avoid the risk of being smashed by the main funds of the 'Yu Hang Group'."

Gao Xiang said: "In fact, the main reason is the expectation, and the chip structure of the three core main lines of 'big finance', 'big infrastructure' and 'military industry' has completely loosened. I originally thought that in December, the Shanghai Stock Exchange Index would go further and would There is a possibility of hitting 4,000 points, but looking at it now... we have to lower our expectations."

"Well!" Chen Yihe nodded and said, "We can only lower our expectations first, change our trading strategy, and control the drawdown of our fund's net worth first. Compared with more profits and higher net worth performance, we can survive... The most important thing is always. Fortunately, we have been able to grasp the main uptrend in the market in the past one or two months. The net value performance of our company's main fund products can be considered to have achieved the goals set at the beginning of the year. To describe our The investor group also has an explanation, but...the ranking in the industry is not so ideal!" (End of Chapter)