Rebirth of the Investment Era.

Qin Qiuyue nodded and said, "There is no problem with the investment logic of the 'big finance' line, but when it will start, it is uncertain."

"En!" Zhou Hui responded, "We can only wait patiently."

At present, the position structure of several main fund products of the company has been adjusted to the main line of "big finance". In the face of the "infrastructure" and "military industry" sectors, which are already in the stage of hot sentiment and form the main rising market, It is no longer possible for them to chase and adjust positions.

Therefore, apart from patiently waiting for the main line of the market to switch, there is no other better investment strategy.

While the two were talking, the market trading hours had already reached 3 o'clock in the afternoon, and the two markets were closing.

I saw that the Shanghai Stock Exchange Index is under the leadership of the two major industry lines of 'infrastructure' and 'military industry', as well as core concept themes such as 'Asia-Europe Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central Enterprises and State-owned Enterprises'. Once again, it continues to set new highs for this round of rebound and new highs for the year.

And a group of popular stocks on the core main line, along with the index, also set a new high for this round of rebound and a new high for the year.

Of course, the performance of popular main lines in various markets is still in full swing.

These few popular concept stocks on the fringe of the main line, as well as many concept stocks that have been forced together and whose concepts are not pure, have begun to show a pattern of heavy volume and stagflation.

In addition to the two major industry lines of 'infrastructure' and 'military industry'.

As well as the corresponding conceptual themes that revolve around the main lines of "Asia-Europe Economic Belt", "New Era Road, Maritime Silk Road" and "Reform and Reorganization of Central Enterprises and State-owned Enterprises" are extremely eye-catching, and the continuous profit effect is extremely hot outside.

The main line of traditional investment in other markets, and the main line of 'technological growth' in emerging industries.

However, the performance is still quite sluggish, there is basically no independent market trend, and all are passively fluctuating with the index.

Of course, when the performance of these main investment lines is not very good, the phenomenon of siphoning funds by the popular main lines of "infrastructure" and "military industry" within each investment main line has weakened instead.

Like the major sectors of 'Big Finance' and the major sectors of the main line of 'Technology Growth'.

In terms of closing results.

The flow of main funds within the sector shows only signs of a small outflow.

"It seems that the main lines of the major market industries of 'infrastructure' and 'military industry', and even the entire 'big infrastructure' investment theme, have gradually weakened the siphon effect on the active capital groups in the market." Seeing the closing situation of the two cities , around 3:30 in Shanghai, inside Zexi Investment Company, in the trading room of the main fund, Xu Xiang narrowed his eyes, briefly reviewed the closing results of the two markets, and laughed, "The whole 'big infrastructure' investment theme siphons The weakening of the effect of funds shows that the long-short pattern of this main line should almost reach the point of conversion."

Next to Xu Xiang, Zhou Kan, who was also carefully reviewing the market, nodded and said: "For the line of 'big infrastructure', the siphon effect of funds has weakened for other main line fields in the market, which should indicate that other main line fields are free and active. Most of the funds have poured into the main line of 'big infrastructure', right?
It can also show that there is indeed nothing to squeeze in other main investment areas in the market.

In this way, there is no continuous undertaking of a large amount of active funds.

In this position, if the main investment line of "big infrastructure" continues to rise further, as the stock price rises, the size of the circulation plate and the amount of funds required to undertake will continue to increase, which will inevitably lead to this Insufficient support of the main line, and the strength of long and short positions reversed. "

Xu Xiang nodded slightly and said, "That's right, that's it!"

"It seems that the line of 'big infrastructure' is indeed going to peak in the short term, and it has almost reached the position where it needs to be adjusted." Zhou Kan said, "In this case... Boss, we are heavily invested in the line of 'big infrastructure'. Are the main fund products starting to lighten up their positions slowly?"

If the main line of this level needs to be adjusted, it doesn't matter whether it is time or space.

Shouldn't be small.

That being the case, they don't need to continue to hold chips on this big main line, wasting time.

Of course, neither Zhou Kan nor Xu Xiang thinks that the grand investment line of "big infrastructure" and the medium and long-term market have come to an end. Policies on the macroeconomic strategic planning such as the Maritime Silk Road and the Asia-Europe Economic Belt have not yet been advanced in depth.

That is to say...

The future expectation of the grand investment line of "big infrastructure" is actually still growing.

It's just that at the current stage, after two or three consecutive years of violent and sustained rises, there are already too many short- and medium-term profit margins accumulated.

In other words, the sedan chair is too heavy.

Without consolidation, some people who sit in sedan chairs will be thrown off, and the capital groups undertaken by the market will not be able to lift them.

Xu Xiang thought for a while and said: "It is almost possible to reduce the position of the main investment line of 'big infrastructure', but the market of this main line, the medium and long-term investment expectations and investment logic are quite good, we can reduce the position, But there is no need to completely clear the warehouse.

At the same time, when reducing the main line of "big infrastructure".

It's time for us to start building the main chip of 'big finance'. "

"The bargaining chip for building a position in the line of 'big finance'?" Zhou Kan was slightly taken aback, and asked, "Boss, do you think that when the line of 'big infrastructure' enters the stage of cleansing and adjusting for short-term profit taking, 'big money' Can the line of "finance" take over the funds pouring out of the line of "big infrastructure" and form a high-low switch of the main line of the market?
But I think...

Compare the future expectations of the line of "Big Finance" and the fundamental situation.

I am afraid that the line of "technological growth", which is dominated by small and medium-sized boards and GEM constituent stocks, will be better. Maybe the line of "technical growth" is the time for adjustment of "big infrastructure" to undertake withdrawal funds and carry out The development direction of the core main line of the main line high and low switching!
Moreover, according to the market performance last year and the first half of this year.

The Shanghai Stock Exchange Index and the ChiNext Index have been on a seesaw market.

Furthermore, the line of "technological growth" has actually been fully adjusted under the circumstance that "big infrastructure" has siphoned funds from both inside and outside the market crazily in the past two to three months. Another wave of rising market is born.

In addition, in the entire market, except for the expectation of the line of "big infrastructure".

It should be said that the expectation of the line of "technological growth" is unmatched by the main line of investment in other markets under the dual-core drive of "mobile Internet" and "smart phone industry chain". After all, these two major industries are truly Incremental industries, whether it is the fulfillment of expected performance or the growth of industry scale, have a lot of room for imagination. "

Xu Xiang responded with a smile: "The two major investment themes of 'Mobile Internet' and 'Smartphone Industry Chain' and related emerging industries are indeed the most imaginative investment areas in the current economic development, but how can the market be in this situation? The future expectations of the two major fields have been filled very early.

Take a look at the corresponding core hot stocks of the big main line of 'Technology Growth'.

Regardless of its valuation level or the position of the stock price, it is far superior to other mainline sectors in the market.

Although after such a long period of adjustment, the technical form of many stocks has gone very well, but in terms of expectations, it is still a little bit less meaningful!

At present, inside and outside the market, most of the eyes of the majority of investors are still focused on the direction of the main board.

In addition, the line of "technological growth" has lost too much blood in the adjustment for several months. There is no new breakthrough in the expectations of the majority of investors in the market for this line. At the same time, many core popular stocks in this field have performance expectations. Without following up.

In this direction, it is still difficult to quickly gather enough emotions and consistent expectations.

In the end, it will be the vanguard of market breakthroughs and the huge amount of funds pouring out of the line of 'big infrastructure'.

Contrast that with the line 'technological growth'.

Obviously, at the current stage, the line of 'big finance' seems to be weak, but its potential explosive power is obviously stronger.

First of all, the turnover of the two cities has stabilized at 3500 billion.

Compared with the overall energy performance of less than 1500 billion at the beginning of the year, and the low peak last year, it was still less than 2000 billion.

This almost doubled volume can bring substantial profit growth to various brokerage institutions.

Secondly, the sharp increase in the balance of financing in the two cities can also bring a very substantial increase in profits to brokerage institutions.

Finally, look at the increase in the Shanghai Index this year. Judging from the current position, the Shanghai Index has also risen from around 2000 points at the beginning of the year to the current position of more than 2800 points, an increase of nearly 40%.

In this year, the biggest contribution to the index is the core market line of "big infrastructure".

The line of "big infrastructure" covers the direction of the main board, and many blue-chip and white horse stocks are heavily weighted.

Although due to the continued sluggish performance of blue chips and white horse stocks in the market in the past few years, many institutions in the industry have reduced a lot of positions in this direction, making the level of institutions' positions in this direction generally low, but in the entire 'big In the core sectors related to the main line of infrastructure construction, the annual growth rate is basically close to 100%.

These institutional groups rely on such gains and subsequent continuous increase in positions.

It is also possible to gain a lot of profits at this stage, and among them, brokerage institutions with balanced allocation, banks, insurance and other asset management institutions are the direct beneficiaries.

Substantial performance change logic in several aspects...

In addition, both inside and outside the market, whether it is retail investors, hot money, or various institutional groups are increasingly willing to do more, and the call of the bull market.

The line of 'big finance', whether it is a change in fundamentals or a change in long-term expectations in the future.

At present, it can be said that we have reached a turning point.

There are a lot of smart funds in the market. I believe that at this moment, there must be a lot of main funds who are secretly building positions in the main line of market investment called "big finance".

In general……

If the line of 'big infrastructure' goes to the top position in the short term.

Moreover, its main rising market, the incremental funds that continue to enter the market, and the outflow of funds from other main-line investment fields have been unable to fully undertake this main line, short-term profit-taking profits, and the release of hold-ups. plate time.

When the main line of the "big infrastructure" field, a huge amount of funds deposited and locked up poured out.

And under the guidance of the regulators, it is necessary to find the next main line of market investment to undertake the adjustment of the main line of "big infrastructure", so that the index can continue to maintain high investment sentiment and investment confidence during the main line conversion, and continue to make money in the market If the effect expands and a round of 'bull market' is triggered.

Well, at this moment, there should be no more suitable line than the line of 'big finance'.

If the market, after the main investment line of "big infrastructure" enters the short-term adjustment stage, switches the main line of market prices, and the probability of choosing "technological growth" as the breakthrough and main direction of attack is 20%, then, when the time comes... the market The main domestic and foreign capital groups choose "big finance" as the main line of undertaking "big infrastructure", and the probability of the main attack direction of the Shanghai stock index hitting the 3000-point mark is 80%. "

After listening to Xu Xiang's analysis, Zhou Kan pondered for a while.

However, I also feel that the main line of market investment, 'technological growth', seems to be almost fulfilling expectations and fundamental performance to further enhance the imagination.

And the line 'big finance'.

The current market valuation is extremely low.

At the same time, according to Xu Xiang's analysis, there will be a significant change in its fundamentals and future expectations.

In this way, the expected difference is indeed much larger than the line of 'technological growth', and the probability of funds choosing this direction as a core breakthrough is also greater than that of choosing the line of 'technological growth'.

"Okay!" Zhou Kan nodded, "Since the boss already has an overall investment strategy in mind, then we... will adjust our positions in the direction of 'big finance'."

Xu Xiang nodded slightly, smiled, and continued: "However, although the direction of the investment strategy has been determined, there is no need to worry too much about the plan to build a warehouse. For such a grand main line of 'big infrastructure', even if the short-term sentiment is overheated and expectations are poor If it is destroyed, it is necessary to adjust and clean up the excessive profit taking. Then this short-term peak platform will not be a spire, but mostly the top of a range box.

Since it will not be a spire, it is most likely to be the top of the box.

Then, our reaction time for strategy switching is obviously sufficient.

First use our newly established 'Zexi No. 2' main fund product to start a preliminary position building.

For the 'Zexi No. 1' fund product, we can slowly adjust our trading strategies. In the subsequent market performance, we will gradually reduce our positions in the 'big infrastructure' field from weak to strong. "

"Okay!" Zhou Kan responded, and immediately began to arrange and make tomorrow's trading plan.

While the two were discussing and planning to adjust the fund's investment strategy and trading strategy.

At this moment, inside and outside the market after the market close, on the online stock investment discussion platform where a large number of retail investors gather, everyone’s views and remarks are as always extremely radical and positive. The market's core mainline market has reached a node that must be adjusted, and almost no one has noticed that many concept stocks in the mainline field of "big infrastructure" have experienced heavy volume and stagflation, and their trends are changing from strong to weak. (end of this chapter)