Rebirth of the investment era

"Oh, let me go... Did the Shanghai Stock Index fall below 3,600 points so quickly?"

Seeing the closing situation of the two cities, a group of retail investors gathered in major stock investment exchange forums, communities, post bars and other places across the Internet showed a look of astonishment on their faces. At the same time, their expectations for the market outlook also appeared one after another. Shaken.

In fact, many retail investors who previously adhered to the bull market logic believed that the Shanghai Stock Exchange Index could reach 4,000 points by the end of the year.

At this moment, the mood was clearly starting to break down.

"If we continue in this form, I feel that the Shanghai Index is at 3,500 points and cannot hold on!"

"It fell really fast, and it was so unexpected."

"What about the promised bull market? Why did it suddenly turn into a bear market? This reversed too quickly, and it was reversed with the benefit of the central bank's interest rate cuts and reserve requirement ratio cuts."

"It was indeed too fast. A 200-point drop in three days. Damn it... I was cut off as soon as I entered the market."

"The main force is really too cruel."

"The main reasons are that the main lines of 'big finance', 'big infrastructure' and 'military industry' have completely collapsed, while other main lines of the market have been unable to form a rotation in the main line market, causing the major market indexes, especially the Shanghai Stock Index, to lose value in an instant. Without support, it turned into a trend that plummeted three thousand feet."

"Oh, the fall is so uncomfortable. I just chased it with a full warehouse the day before yesterday. I feel... do I need to cut the flesh now?"

"It has already fallen below 3,600 points, so why are there any cuts? Don't worry, even if the Shanghai Stock Index cannot hold on to 3,500 points, there will still be no problem with the market's bull market pattern."

"At present, the bull market pattern of the market does not have any problems, but if it continues to fall and falls below the support level again and again... it will be difficult to say."

"It shouldn't be the case, right? The investment logic of the core main lines of 'big finance', 'big infrastructure' and 'military industry' is still there, and the major investment logics of securities firms, banks, insurance and Internet finance are still there. Heavyweight stocks in the core sector, as well as popular concept stocks, such as 'Huaxin Securities, Huashang Securities, Huatong Securities...' and other leading securities firms, as well as trading platform stocks such as 'Flush, Great Wisdom, and Oriental Fortune', this year The surge in performance should be a sure thing. If the stock price goes down, it still has a strong supporting effect to a certain extent. But we don’t know where the support level will be that can form a consistent expected situation. "

“I’m not saying that there is anything wrong with the core investment logic of these major lines, but to be honest, after the continuous hype, the valuations of these major lines are not necessarily better than those of other heavyweight stocks and popular stocks in other major main lines in the market. We have an advantage, and everyone is guessing at the moment. Before the expected performance explosion is realized, no one knows whether it is true or false. What if the logic is falsified?"

"Is the daily high turnover in the market fake? Is the skyrocketing balance of margin financing also fake? Given the current market situation, tell me, how could the performance of securities-related stocks not skyrocket? What's more, last year, last year With such a bleak market situation, the performance base of major brokerage stocks was so low last year."

"Yes, and the Shanghai Stock Exchange Index has risen from 2,000 points at the beginning of the year to close to 3,600 points now. Even if it is operated by fund managers with average asset management levels, the performance of major institutions in the asset management industry this year will not be bad, and banks, insurance, Among the three major weighted industries of securities companies, aren't they the core of the asset management industry? Generally speaking... I think the investment logic line of 'big finance' is indeed very stable. At present... I think This big main line has been adjusted so drastically in recent days. The main reason is that it has risen too much in the past and has been chased and speculated too much. In addition, it is caused by the large-scale reduction of positions by the "Yu Hang Group", the core main institution in the market. The real investment The logical problem is actually very small.”

"I agree, there is no doubt that once the 'big finance' line is adjusted in place and a large amount of floating chips are cleared, this big main line will definitely have a better market outlook."

“What about the two main lines of ‘big infrastructure’ and ‘military industry’?”

"Should the 'big infrastructure' be okay? I feel that the macroeconomic strategic planning vision of the 'New Era Road, Maritime Silk Road' is still very worth looking forward to, and the country is currently vigorously promoting the construction in this policy direction. In general In terms of domestic infrastructure and urbanization, although it has begun to mature and will not see much explosive growth, outside... it is a vast world!"

"Yes, as long as the global economy is still within the framework of multilateral economic and trade, then I think there are still many places outside that need our infrastructure. Domestic demand is limited. Going out... is the real blue sea and blue sky. A vast world of unlimited imagination.”

"As for the investment logic of the main line of 'military industry', it is even simpler."

"Yes, it should be a basic certainty that defense spending is increasing year by year. A strong military industry will lead to a strong economy. There is also no problem with the basic logic of this line."

"In this way, the current comprehensive decline in these core main lines is simply influenced by market sentiment."

"It was originally an emotional blow that led to this."

"Let's wait for the emotional digestion to complete. I feel that there is still a chance that the Shanghai Index will stabilize at 3,500 points."

"Oh, I hope. I have really lost 10% in the past three days. I haven't had such a serious retracement in a long time. It's just that... I still have some profit from the position."

"Actually, I think the problem is not in the core lines of 'big finance', 'big infrastructure' and 'military industry', but in the relatively well-adjusted areas of 'big consumption', 'mobile internet' and 'smartphone industry chain'. The main line is completely unable to absorb the capital groups that the market has withdrawn from popular main line fields such as 'big finance', 'big infrastructure', and 'military industry', thus forming a 'high-low switch' in the main line market."

"The main themes are 'big consumption', 'mobile Internet' and 'smartphone industry chain'. In terms of expected logic, there are some problems in it, right?"

"Agree, compared with the core main lines of 'big finance', 'big infrastructure' and 'military industry', the core main lines of 'big consumption', 'mobile Internet' and 'smartphone industry chain' are really based on the expected logic. It's not very interesting, alas... Looking at it this way, in fact, these core main lines cannot accept funds from the main areas of 'big finance', 'big infrastructure', and 'military industry', and form a main line market cycle. If you switch manually, it’s normal.”

"That's right, it's mainly a matter of expected logic."

“In general, from a macro financial perspective and from a policy perspective, the direction should still be bullish, right?”

"This is for sure. If there is no bull market, how can IPO be issued? And how will the registration system be implemented in the future?"

"That is to say, there is no problem with the underlying logic of the bull market. At present, it depends on where the market adjustment will fall. After this wave of market adjustment is completed, the market outlook will most likely continue to rise."

"Do you think that with the market plummeting today, the main fund of the 'Yuhang Group' controlled by President Su is still selling chips on a large scale?"

"That's not certain, but yesterday the 'Yuhang Department' that President Su was in charge of was not thrown away, so it shouldn't be the same today, right?"

"It's also strange. Except for the one the day before yesterday, the 'Yuhang Department' headed by President Su has not appeared on the Dragon and Tiger list recently. I always feel that President Su should still be optimistic about the subsequent market trends, right?"

"For that one time, I feel like the main force of the 'Yu Hang Department' controlled by President Su won't be able to escape, right?"

"I think so too..."

"So, to sum up, there is a high probability that Mr. Su is not clearly bearish on the market, nor is he sincerely reducing his position?"

"Could it be that you want to wash the dishes and get chips?"

"It's also possible. After all, the main lines of 'big finance', 'big infrastructure', and 'military industry' have been shorted continuously before, and there is indeed not much volume. It is difficult for big funds to buy. Now... I just buy it casually." .”

"General Manager Su's 'Yuhang Department' holds chips in the core main lines of 'big finance', 'big infrastructure' and 'military industry'. Preliminary estimates have reached 200 billion. How could it be to use the chips to wash the market?" ? I think...it’s still more about reducing positions and taking profits.”

"Alas, it's a pity that the 'Yu Hang Group' does not announce their net worth."

"Yes, otherwise, through the net worth performance in recent days, we can know the overall position performance of the 'Yu Hang Department' managed by President Su and its attitude towards the market trend."

"If you ask me, if the market continues to fall now, I can't blame Mr. Su."

"Yes, it's the other major institutional groups in the field that are too weak in their operations."

"This is called the gap. In the past, the market continued to fall. Mr. Su's 'Yu Hang System' could always find the key points of the market, pull the market violently, and create a wave of core main lines, thereby driving the market's investment sentiment to reverse. Now... For several days, the main institutions on the market only knew how to follow the trend and sell, and they could not bring any core main line at all."

"Yes, it's the line of 'big consumption', isn't it? It's just that no one follows it."

"Without sufficient logical expectations, how can everyone follow?"

"The line of 'big consumption' is problematic. How about the two main lines of 'mobile internet' and 'smartphone industry chain'?"

"Actually, I think the 'mobile Internet' line should still have a chance to come out, right? After all, it has been adjusted for a long time, and the 'mobile Internet' is currently booming. The era of the Internet of Everything is really coming soon. Of course... …The ‘smartphone industry chain’ line that collaborates with it is actually not bad.”

"The core logic of the two main lines of 'mobile Internet' and 'smartphone industry chain' is good, but it is a pity that good Internet companies are not listed on the A-share market. The 'mobile Internet' affiliated companies listed on the A-share market , there are few that can be seen, and since the 'Internet Finance' sector follows the line of 'Big Finance', at this stage, it will also obviously exert a certain degree of drag on the market of the main line of 'Mobile Internet' .”

"It makes sense, alas..."

"It feels like after the main lines of 'big finance', 'big infrastructure' and 'military industry' stalled, there really was nothing left for the market to do."

"That's right."

"The Dragon and Tiger Rankings are about to be refreshed. Let's take a look at today's Dragon and Tiger Ranking data in the two cities."

Amidst the extremely heated discussions on the entire Internet, the investment sentiment inside and outside the market is gradually changing from bull-dominated to short-dominated.

At 5:30 pm, the dragon and tiger rankings of the two cities were refreshed, and the data of the two financial institutions were released at the same time.

I only see data disclosed based on the market.

According to the data on financing and financing, despite the continuous market decline, the financing balance has not only not declined, but has continued to increase, with a sharp increase of about 6 billion in financing in a single day.

As for the data on the dragon and tiger rankings of the two cities.

I saw a total of 54 stocks listed on the Dragon and Tiger list today.

And among the disclosed dragon and tiger lists, the main sellers are still the seats of major institutions gathered in the early popular main fields such as 'big finance', 'big infrastructure', and 'military industry', as well as the previously concentrated speculation on 'blue'. Hot money groups such as Shi Heavy Equipment, Huake Shuguang, Shanghai Steel Union, Great Wisdom, Flush, Shanghai Construction Engineering, Yingkou Port, Shanghai Sanmao...' and other popular stocks.

As for the main capital-related transaction seats of the ‘Yu Hang Series’ that everyone is paying close attention to.

Neither Fortune Road nor the institutional seats associated with Fortune Road appeared in the buying and selling seats of any stocks in the two cities today.

That is to say, except for the great benefits of the central bank's interest rate and reserve requirement ratio cuts.

That was a massive sell-off.

The funds of the 'Yu Hang Group' seemed to have suddenly disappeared and became invisible again, leaving everyone inside and outside the market unaware of the movements and motives of this main force of funds.

"The trading seats associated with the main funds of the 'Yu Hang Group' still did not appear on the dragon and tiger lists of the two cities today." After the data on the dragon and tiger lists of the two cities were disclosed, in the Magic City, Zexi Investment Company, the main funds In the trading room, Zhou Kan stared at the data disclosed on the dragon and tiger lists of the two cities. Although he had expected it before, he was still slightly surprised. He turned his eyes to Xu Xiang next to him and said, "Boss, it seems... ... Just as you guessed before, there is a high probability that the funds of the 'Yu Hang Group' will reduce their positions in advance. The move the day before yesterday was probably the last remaining position of this main force. Alas... this fund is also real Bull has stepped on the key nodes of market changes everywhere."

Hearing Zhou Kan's words, Xu Xiang, who was also staring at the data of the two cities' dragon and tiger rankings, nodded slightly and said: "Looking at the current situation, it should be able to confirm my previous guess. This fund is really good, and it predicts the market's current situation in advance." During the correction of the sharp decline, when the central bank’s interest rate cuts and reserve requirement ratio cuts were favorable, they began to reduce positions and cut profits on a large scale without any interest.”

"I'm really curious, since when did this fund start the exit plan of reducing positions and taking profits." Zhou Kan said, "When the Shanghai Stock Index broke through 3,500 points before, it was still 3,600 points? And this fund was in the previous In the stage of reducing positions and taking profits, it was able to avoid the disclosure of the Dragon and Tiger rankings silently. It’s really amazing. I don’t know how this capital was achieved?” (End of Chapter)