Rebirth of the Investment Era.

Subsequently, in the face of continuing to rise and fall, the main line sectors of the 'infrastructure' and 'military industry' industries, as well as the 'Asia-Europe Economic Belt', 'New Era Road, Maritime Silk Road', 'state-owned enterprises and state-owned enterprises', faced increasing pressure from selling. Reform and reorganization' and other popular concept themes main line plate.

The group of retail investors who were chasing wildly finally realized that something was wrong.

After that, the amount of funds actively undertaken by these popular core and main line sectors began to further decrease sharply.

After that, due to the sharp decrease in the amount of funds actively undertaken, the profit taking on the market began to further concentrate funds, smash down orders to take profits, and rob the liquidity on the market.

At the same time, expectations for market adjustments and market highs and lows are becoming more and more intense.

As several popular main lines continue to decline rapidly, the volume can further expand.

"Technology growth", "big consumption" and "big finance" have further shown traces of main capital care and inflow, resulting in more and more obvious traces of the high-low switching between the two cities.

Around 1:30 p.m.

When the main funds in the market realize that the selling pressure of popular main lines such as 'infrastructure' and 'military industry' has been fully formed, and the trend of adjustment is unstoppable, and the trend of high and low switching is also unstoppable, they begin to actively pull the market in the main line of 'technological growth' The core stocks of Wangsu Technology, LeTV, and Dongfang Fortune all experienced short-term straight-line bursts of rising sales.

However, after the core stocks of these "technological growth" main lines exploded and rose by more than 3%.

In the entire market, there are not many groups of retail investors who have gathered the main funds to these core stocks and followed suit to pursue them.

In other words, as the market diverges on the 'high-low switch'.

Faced with the change of these checks, the funds did not go in this direction, forming a consistent force.

And there is no concerted effort to produce...

After the rapid rise of these checks, due to the lack of undertaking effect and lack of follow-up funds, under the pressure of holding up the market and the selling of latent funds, they gradually fell in a fluctuating manner, and within ten minutes, It fell back to the rising point again.

When the main line of "technical growth" failed in the main capital trial.

Around 1:50.

In the face of the further decline and callback of the popular main lines of the corresponding markets such as 'infrastructure' and 'military industry'.

The main capital flow with different opinions began to try to increase the main line of "big consumption". Qianzhou Moutai, Gree Electric Appliances, Midea Group, Haier Group...etc. Liquor and white goods began to change rapidly, and the corresponding small The market concept stocks began to be pushed up by funds and rose in a straight line.

However, it is the same trend as the main line of 'technological growth'.

The changes in these stocks, after the short-term burst of straight-up sales, also failed to condense the market's hype sentiment in this direction, failed to attract too much main funds, and retail investors followed suit.

The stocks that caused these changes have continued to decline in their ability to undertake after the changes.

It also began to fluctuate and decline from the corresponding intraday high, and gradually fell back to the corresponding rising point.

Successive pull-up failures of two major mainlines, as well as the inability to drive the concentration of market sentiment... and other related effects have led to the main group of large funds who are optimistic about the mainline of "big finance" and are continuing to adjust their positions in the direction of the mainline of "big finance". Sometimes, I dare not rush to pull the market, to forcibly gather market sentiment and follow suit funds.

After all, if the promotion fails, you cannot gather popularity and follow suit funds.

The internal bargaining chip structure will also be further scattered.

This kind of failed pull-up move is not only of no benefit to the emotional development of the mainline market and the cohesion of the bargaining chip structure, but will further dampen the sentiment of market investors in this mainline area.

Similarly, we found the entire market.

It seems that in addition to the "infrastructure" and "military industry" industry sectors, as well as the corresponding concept sectors around several 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" In addition, other main lines can't gather popularity at all, and can't produce corresponding continuous money-making effects.

Many profit-making funds that escaped at the beginning of the session began to slowly return to these popular mainline areas at low intraday levels.

Re-gather in this area to make a market.

And when those funds come back...

"Infrastructure" and "Military Industry" are the two major industry lines, as well as the concept plates and industry plate components of the core concept subject areas such as "Asia-Europe Economic Belt", "New Era Road, Maritime Silk Road" and "Reform and Reorganization of Central Enterprises and State-owned Enterprises" Stocks, as well as a group of related concept leading stocks, have begun to gradually increase their capital acceptance power at low intraday levels, and their stock prices have also slowly risen.

And in the process of the corresponding stocks of these major popular main lines slowly rising.

During the session, the main lines of 'Technology Growth', 'Big Consumption', and 'Big Finance', which once attracted the attention and inflow of main funds, began to slowly lose blood again, becoming the main lines of 'Big Infrastructure' and 'Big Military Industry' The blood bag in the direction, and the funds in the main line fields of 'technological growth' and 'big consumption' just now, as well as the vast retail investor group, at this moment... have been ruthlessly harvested again.

"What's going on in the market today?"

Seeing the evolution of the market, it is completely unpredictable. The performance of many main lines is whether it should be weak or not, whether it should be strong or not, whether it is buying or selling. In the trading room, Zhou Kan couldn't help complaining, "In the fields of 'Technology Growth' and 'Big Consumption', there are major capital trials, but these funds ignited a fire, but then gave up in an instant. It's really... no courage .

At the same time, after the time entered the late stage at 2 o'clock.

Surprisingly, the active funds in the audience have begun to flow back to the popular core lines of the market such as 'infrastructure' and 'military industry'. This trend... is simply out of line! "

Xu Xiang chuckled and said: "It's not surprising, a lot of funds have been transferred around, and found that in the current entire market, except for the hot topics of 'infrastructure' and 'military industry', they can gather popularity and gain the support of a large number of investors in the entire market. It is unanimously agreed that apart from being able to quickly attract follow-up, other mainline fields cannot move at all, and there is no major capital and large retail investor groups to follow suit.

In the financial trading market, funds are like flowing water.

The strength of the money-making effect and the strength of consistent expectations in the market are like the height of the terrain. The stronger the money-making effect and the stronger the consistency of expectations, it means that the terrain here is lower, and the lower the terrain, the natural flow of water It will flow into the lower ground.

This is a natural law, and it is also an unchanging law of capital speculation in the financial trading market.

The so-called no matter when, whether it is the index, the main line market, or individual stocks, any market changes will always change in the direction of least resistance.

What is the direction of least resistance?
That is the consistent choice direction of funds, that is, the expected consistent direction.

In the current market, there is no doubt that despite the excessive accumulation of profit margins in popular main lines such as 'infrastructure' and 'military industry', many funds can't help but want to stop profits, and the internal bargaining chip structure has begun to obviously loosen, but these hot spots The main line, the investment inertia and investor sentiment and confidence formed through consecutive months of rising, has not yet dispersed.

At the same time, other mainline areas of the market have been continuously sucked blood by these core mainlines in the past few months.

There has never been any sustained money-making effect, and there is no such strong emotional expectation and investment confidence in these popular mainline areas.

Then, capital hastily pulls these weak mainline areas.

Naturally, it is difficult to gather popularity and investment confidence in the first place.

If you can't gather popularity and investment confidence, and if you don't have funds to follow the market, then there will be no continuous market, and if there is no continuous market, if the funds do not turn around the popular main lines of 'infrastructure' and 'military industry', where else can they go?After all, the first investment priority of funds is to seek advantages and avoid disadvantages!

Of course, consider these market factors.

It can also be said that the time for the current market to carry out a real "high-low switch" for the development of the main line of the market has not really arrived. "

After listening to Xu Xiang's words, Zhou Kan pondered for a moment, and said, "Boss, according to what you said, will the core market trends of 'infrastructure' and 'military industry' continue? We have reduced our positions on a large scale... Isn't it a mistake to reduce it?"

Xu Xiang responded with a smile: "It can't be wrong, our strategy of reducing positions on a large scale here is correct.

"Infrastructure" and "military industry" are the hot core lines of the major markets. Although the sentiment and investment confidence are still there, the bargaining chip structure is obviously loose. In practice, there are already many worries, and they are often unwilling to continue to pull up the market and let the profit-making funds be squandered.

And below...

In the case that there is no other main line in the market that can undertake this part of the funds.

There is no other place to go for the funds, and when the low-level profit-loss ratio has transaction value, it will undertake corresponding undertakings and hype the concept stocks corresponding to these major main lines within the range.

All in all, it is when the market has not completely completed the 'high-low switch' of the main line.

'Infrastructure' and 'military industry' are the main lines of the major market hotspots, which is a violent shock trend that can maintain a high level of volume. It will not rise too high, but it will not fall too deep.

This is also what I said before, whether it is reducing positions or adjusting positions to lay out other main lines.

Don't worry too much.

The core lines of 'infrastructure' and 'military industry', with such a large volume of circulation, have accumulated so much main funds and retail group funds in the past few months, even if the bargaining chips are loosened and expectations change, it will not change. It will be sudden, whether it is to reduce positions or increase positions in other main lines, we have enough time to react. "

"Understood!" Zhou Kan nodded, "But it is estimated that in this range-bound mode, the next market performance and hotspot switching should be very frequent, right?"

Xu Xiang nodded slightly, and said: "This is for sure. When the popular main lines of 'infrastructure' and 'military industry' in the market cannot be further opened up for speculation, and the corresponding profit-making effect of these main lines is gradually decreasing, then Funds will definitely choose the opportunity to hype other hot concepts.

It's just because there is no other main line that can replace the core main lines of 'infrastructure' and 'military industry'.

Condensed a new concentration of emotions and continuous money-making effect.

Then, the hype of funds on hot concepts must be mainly driven by news.

However, the hype of short-term concepts mainly driven by news, the conversion speed of hot spots must be relatively fast.

At this stage, for funds with capital advantages and news channel advantages, it is a good time for speculation, but for retail investor groups without these advantages, I am afraid that they will enter the situation of slapping faces at both ends, and even frequently chasing high and cutting meat. in the investment environment. "

"Yeah!" Zhou Kan nodded, and asked again, "Boss thinks, when will the market form a real main line of 'high-low switching'?"

Xu Xiang shook his head, and responded: "I don't know, all we can do is wait, waiting for the market to form in a certain direction under the news, or other positive stimuli, or even the confluence of various factors. We don’t know when this opportunity will come, but we know that this opportunity... will definitely come with the further development of the market.”

Zhou Kan thought for a while, and continued to ask: "The boss still insists on replacing the popular main lines of 'military industry' and 'infrastructure', and the next core main line that condenses market sentiment and consistent expectations of funds is 'big finance'? "

"You have also seen the market situation today." Xu Xiang said, "The two lines of 'technological growth' and 'big consumption' really cannot mobilize the investment sentiment and follow-up sentiment of the entire market! Moreover, these two main lines, In terms of expectations and the size of the circulation, it is actually inferior to that of "big finance".

Of course, let me firmly believe that the main line of the market 'big finance' can come out.

The main reason why it can become an alternative to popular main lines such as 'infrastructure' and 'military industry' in the current market is that I think that when the global economy has a new turning point and the Fed's interest rate meeting is also tending to ease, the overall domestic monetary policy, There will also be unexpected changes.

As long as the macro monetary policy changes beyond expectations.

The line of "big finance" has a natural source of motivation and expectations, and it will gather emotions and investment confidence very quickly.

At the same time, the market volume has reached the 4000 billion mark.

This volume has doubled, and several times, compared to the previous quarter, and even the beginning of the year!

Under the performance of this quantity, it is impossible for the performance of securities companies to be poor, and according to the milestones of their performance disclosure, it should be reflected in the third quarter.

so……

I expect the main line of the market to switch, and the time node for the real change of the market structure.

Mostly it should be around October or November.

Of course, it’s still the same sentence, this is just an expectation, the specific market trend, and whether the expectation can be realized, still has to be verified by the actual market trend.

During the period when the market has not completed the real core mainline switch.

In the face of frequent changes in market hotspots, we have to adjust the fund's profit growth expectations during this period. At this stage, the important thing is not to make profits, but to control the retracement.

As long as the retracement is well controlled, and most of the positions can be slowly adjusted to the line of "big finance".

Then, even if we have mastered the initiative in the future market development. "

"Well, I understand!" Zhou Kan finally had a thorough understanding of the current market changes after listening to Xu Xiang's detailed thoughts and expectations on the market and investment strategies. He smiled lightly and said, " That being the case, let this shock and strangulation of the market come more violently!" (End of this chapter)