Chapter 443 Dazzling Market Rotation!
As for other main line concept sections...
The two major oversold and unpopular sectors, 'Coal' and 'Nonferrous Metals', which led the gains, performed very strongly this morning. At the close of the afternoon, the gains exceeded 1.5%, becoming the main force supporting the market; 'Military Industry' and 'Pharmaceuticals' ', 'Consumption', 'Petrochemicals' and other main areas basically follow the market fluctuations. Occasionally, major funds participate in undertaking, but the overall trend is not strong, which can be described as generally good.
The three popular themes of ‘infrastructure’, ‘state-owned enterprise reform’ and ‘internet finance’ once led the market yesterday.
Today, it has fallen into an adjustment trend again. In the morning, the market performance showed a trend that was obviously weaker than the market. The investor group who took on these major lines yesterday once again showed a disappointed look.
Of course, the market index has the highest weighting attribute. In the past few days, it also led the rise in the main line of 'big finance'.
Today's performance was also relatively sluggish. Regardless of the securities, insurance or banking sectors, they all significantly underperformed the Shanghai Stock Exchange Index. Among the three, the securities sector, which was relatively resilient, even fell sharply near midday, pushing the sector index down. The decline ranged from a slight decline of 0.2% to 0.3%, and then fell to a decline of 0.56%.
Faced with such a midday closing situation, the majority of investors in the market are relatively disappointed.
After all, the external market has such a good trend, and at the same time, stimulated by the good news of the Shanghai-Hong Kong Stock Connect, the index only rose slightly, and the hot spots in the entire market rotated very fast, and there was no sustained profit-making effect for the hot sectors that lasted for more than two days. Participation, this trend... can be said to be seriously lower than the expectations of the majority of investors in the market.
Of course, for some investors who are lurking in the "non-ferrous" and "coal" fields in advance.
After enjoying the market dividends in the morning, they were quite excited and happy.
But no one knows how long this kind of excitement and happiness will last. After all, according to the previous market performance, no matter how hot the performance of the hot sectors that led the rise that day was, in the end it was just a one-day market trend.
"Hey, this rebound market still doesn't feel like it has much sustainability!"
At 12:35 noon, in the main fund trading room of Yuhang Minghui Capital Company, He Hong had finished his meal and returned to the trading room. After completing a brief review, He Hong said helplessly: "'Colorful' , 'coal', the two major market hot spots today, although the performance was hot in the morning, the sustainability is still doubtful, and once market expectations are formed, it is hard to say... the market will plunge in the afternoon. "
"It cannot be said that there is no sustainability at all." After He Hong's death, the company's general manager Xu Zhongji responded, "Whether it was the main lines of 'infrastructure', 'state-owned enterprise reform', and 'Internet finance' that were shown yesterday, or the 'military industry' that was shown the day before , 'Big Finance' main line, Or today's main lines of 'coal', 'non-ferrous metals', and 'petrochemicals', in fact, are all centered around an 'oversold rebound' market. It's just that the prices of each main line and each sector rotate too fast, which makes People feel dazzled and unable to grasp the key points.”
"It is true that the recent market hot spots have been centered around the 'oversold rebound'." He Hong said, "But just like Mr. Xu said, the market prices of each main line and each sector rotate too fast, which is dizzying. , can’t grasp the key point at all, and this… is actually the biggest problem.”
“Because the market moves too fast, it’s impossible to catch, predict, or predict.”
"It is impossible to predict, difficult to catch, and the catch is not sustainable, which will greatly dampen the market's hype mood."
"The current market that revolves around the 'oversold rebound' can be said to be a 'one-day tour' market. If it continues like this, it is estimated that it will only be a 'half-day tour' market."
"Because once the market expectations of a 'one-day trip' are formed in the minds of the majority of investors in the market."
"Then the main funds participating in the market speculation will definitely take advantage of this expectation to carry out a new round of front-running. After half a day of rising prices, they will most likely start to sell off and reap the rewards."
"Hey, in fact, the core hype hot spot of 'oversold rebound' is the worst hype hot spot in the market."
"Because the market hot spots and stocks that meet the 'oversold rebound' are poor in terms of fundamentals, news, sentiment, and capital. The logic of continuous speculation is lacking, and naturally the expectations are not high. Just rely on this alone." A line cannot drive the market upward at all.”
"To be honest, the main funds in the market choose this direction to trade."
"In my opinion, it's a helpless move."
"It also proves that apart from this specious hot spot in the market, other major market lines are more difficult to speculate on."
"Of course, this also shows that the current market adjustment is not over at all. The emotional and financial aspects have not recovered at all, and they cannot support the sustained market speculation of the main line."
"You are right!" Xu Zhongji responded, "Fortunately, yesterday we did not increase our positions on a large scale related to the two main lines of 'infrastructure' and 'state-owned enterprise reform', otherwise we would be very passive today."
"It's strange to say..."
Xu Zhongji paused and continued: "In this round of adjustments, the Shanghai Stock Index has fallen all the way from around 2,500 points. To this point range, it has dropped by almost 10%. It has even made an obviously effective and sustained rebound. There is no market trend at all. It is in stark contrast to the trend at the beginning of the month and the previous month. Even if the market is suppressed by the negative effects of the IPO restart, logically, it should not be so weak. "
He Hong thought for a while and said: "It is not just the negative pressure caused by the IPO restart. The market can be so weak. I think the main reason is that the market tone was too high in the early stage. Everyone's expectations were raised too high, and the supervision I changed my attitude too quickly, which led to the collapse of my confidence, and I ended up where I am now.”
"but……"
He Hong thought about it carefully and then said: "On the surface, the market is quite pessimistic, but in fact, both the macroeconomic aspect of policies and the financial aspect have actually improved significantly. The market situation from April to early May has improved significantly." As for the market trend, it is obvious that the market capital volume is being stimulated much more quickly and violently than before. Even if the current trend is very bad and the market continues to fall, the volume energy has remained above the 100 billion mark. "
"It's just the emotional side, it's hard to deal with!"
"In the financial trading market, confidence has always been more valuable than gold."
"At this stage, if we can truly solve the problem of a serious lack of investment confidence in the market, then all problems will be solved."
"The so-called market confidence basically fluctuates with the market's continued money-making effect." Xu Zhongji said, "As long as there is a money-making effect, market investment confidence will naturally and slowly recover. If you want a sustained market money-making effect, In my opinion... we still have to cooperate with the news, policies, and fundamentals of a certain direction of the market to achieve the expected effect of the main line market! "
"Yes!" He Hong responded, "In fact, the biggest difficulty in the current market is here. The main funds that have been active in the market recently have tried to do this with the cooperation of various market news and various policy incentives. Many directions, but none have been successful.”
"The market at this time..."
"To create another grand main line of market conditions like 'infrastructure' and 'state-owned enterprise reform' in April and May, and then gather the market's continuous profit-making effect, thereby reversing the market's investment sentiment and investment confidence, it is really incomparable." It’s difficult, I can’t find the direction at all.”
"Moreover, even if there are excellent fundamentals, the news will also support the main line areas."
“After the first wave of major funds involved in speculation, it was not unanimously recognized by the majority of investors in the market. It was unable to speculate on the relay market, unable to open up the space for the mid-market market, and naturally it was unable to achieve sustained profit-making effects.”
Xu Zhongji nodded slightly and said: "We have found the crux of the market problem. The key is... how to solve this crux and make a reasonable trading strategy in advance, so as to take advantage of the market."
"It's difficult!" He Hong smiled bitterly and said, "I have studied several directions, but they all feel wrong."
"What directions have you studied?" Xu Zhongji asked.
He Hong responded: "Finance, the 'electronic consumption' field that was hyped last year, and the 'infrastructure' and 'state-owned enterprise reform' fields that are still in the adjustment stage."
Xu Zhongji frowned slightly and said: "These lines have been verified by the market recently. At present, there are indeed no obvious opportunities."
"Well!" He Hong nodded, "If we can't find the direction, we can only wait."
"When?" Xu Zhongji asked.
He Hong responded: "Let's wait until the market's 'half-day tour' market can no longer sustain and all market main lines enter the underestimation level. Currently, there is no main market line that can lead the market to break through, so we can only wait for the market to move." It’s the moment when the valuation spring and the emotional spring are tightened again.”
"This is a stupid way." Xu Zhongji said, "I'm thinking, if I were Mr. Su who invested in Yuhang, what would I do now?"
He Hong thought for a while and said: "Judging from the deeds on the dragon and tiger lists of the two cities, the positions of the main fund managed by Mr. Su should have been reduced a lot, but judging from his eagerness to establish a third fund Look, he seems to have some expectations for the market."
"That's why people can't understand it!" Xu Zhongji said.
"Mr. Xu, my suggestion... is to wait a little longer." He Hong pondered for a while before saying, "The current asset management scale of the 'Yuhang Department' is already quite large, and what they use is still With trading seats in the business department of an ordinary brokerage firm, tens of billions of funds flow in and out. In a market with a daily turnover of only 100 billion, it is difficult to hide one’s tracks. Our asset management scale is at least an order of magnitude smaller than theirs. Since we are currently taking If you don’t know the direction, you can wait for the opponent’s fox tail to show up before following the trend, or it’s not too late to make a reference transaction.”
"Okay!" Xu Zhongji responded.
He also feels that the current market rebound trend is very weak and has poor sustainability, and there is a high probability that the market adjustment will not end.
"The plan to increase positions, given the market performance like this, naturally needs to be shelved." After a pause, Xu Zhongji continued, "The key is... should we continue to reduce positions?"
He Hong pondered for a while and said, "Since we expect the market adjustment to not end, my suggestion is to continue to reduce the fund position, at least to reduce the fund position to the real defense range of 30% to 40%, leaving nearly 70% of cash, which is truly safe, and at the same time, we can make all preparations for our subsequent immediate position building."
"Okay!" Xu Zhongji glanced at the time that had moved to 12:57 and responded again.
Then, he turned his attention back to the trading board of the two cities.
As the two finally decided to reduce their positions according to the original plan, watch the market coldly, and not participate in any rebound in the market at this moment, the last three minutes passed in a flash, and the market ushered in continuous bidding transactions again.
As soon as the market opened, the two major industry sector indexes of "nonferrous metals" and "coal", which were once popular among the active main funds in the market in the morning, ushered in a rapid dive, and the core component stocks related to the sector were instantly hit by a relatively concentrated and heavy sell-off.
At the same time, due to the dive of the two major market hotspots of "nonferrous metals" and "coal",
The market index, which had been performing well, also began to lose its support. The Shanghai Composite Index fell back to the opening point from a rise of nearly 0.5%.
"Fuck, this is poisonous! It's starting to plunge now?"
Seeing that the market was not able to continue its upward trend under the relatively hot mood at noon, but plunged back directly at the opening, the hot money in the Yuhang main group where Su Yu was located, who had participated in the speculation of "coal" and "nonferrous metals" in the morning, could not help but complain.
"Oh, it's so weak. I thought the rebound of 'coal' and 'nonferrous metals' would be able to survive today, but I didn't expect... the harvest started in half a day."
"I have to say that the current market situation is really difficult to do!"
"Tell me how to do the 'half-day tour' market? Speaking of playing the 'Pingmei Energy' check today, there is no problem from any angle, but I never expected... Such a hard board in the morning was smashed just after the opening of the market in the afternoon. The funds lurking in this check are simply sick, right?"
"Too difficult, I really shouldn't have taken it in the morning today."
"It's a losing market. No matter what I do recently, I only lose money."
"Oh, it seems that I really need to take a break. Damn, this damn market, rotation The speed is really dazzling and incomprehensible. "
"What the hell? Is 'venture capital' on the rise?"
"It feels like all the funds in the market are speculating blindly, right?"
"No matter how these funds speculate, there are two words anyway, if you don't follow, it's over. At this time... short positions are better than anything else."
"It's true. In the past two weeks, short positions have outperformed 98% of investors in the market."
As the messages in the group were refreshed rapidly, many hot money bosses in the group complained...
But in just a few minutes, the market hotspots have changed again. As the two hot sector indexes of 'nonferrous metals' and 'coal' gradually fell, the 'venture capital' concept sector and its related industry sectors began to rise rapidly again, and instantly topped the list of gains in the two markets!