Rebirth of the Investment Era.

Faced with such a closing situation, the retail investors who firmly hold positions, or firmly undertake the core chips of the market such as "infrastructure" and "military industry", are excited and excited.

And there are many retail investor groups who hold positions on other main lines of the market, and most of them are locked in other main lines of the market.

My heart is still quite depressed.

At the same time, under this situation, the investor groups who continue to lose ground in the market, or are trapped in the main line of other markets, their original confidence and beliefs are also continuously shaken, driving them to move their positions to 'infrastructure' and 'military industry' Wait for the core main line of the market to go up.

Of course, in this continuous change in market sentiment.

Today, I took the lead in advance, sold the core main line chips in the market such as 'infrastructure' and 'military industry' at high positions, and switched to the main funds in the main line fields such as 'technological growth', 'big consumption' and 'big finance' at the low level of the market, and Many major capital groups who tried these major low-level mainlines and tried to create a trend of "high-low switching" in the market were also quite depressed in the face of such a closing situation.

"'Infrastructure', 'Military Industry' and other popular main lines in the market have recovered almost all of their intraday losses at the close of trading today. I really did not expect...The trend of these popular main lines is so resilient, obviously the internal bargaining chip structure has loosened , and the amount of energy has been released so much, but it just can’t fall.”

After the market closes, various institutions are conducting a simple review.

At this moment, in Yanjing, Yihe Capital Company, the trading room of the main fund, Gao Xiang, the trading team leader, continued to say regretfully: "With such a strong resilience and such a strong ability to undertake the market, I feel that our large-scale reduction of positions today is still a bit too much." Don’t worry, the market’s “high-low switching” trend pattern, as long as the core main lines of “infrastructure” and “military industry” are not dead, I am afraid it will be difficult to complete it easily.”

"You are right." Chen Yihe, the fund manager and general manager next to Gao Xiang, nodded slightly, and responded, "However, it is also true that the internal bargaining chips of the core hot lines of the major markets 'infrastructure' and 'military industry' are loose. It is also a fact that the discrepancies in the market have become larger. Although the power of these popular core lines has not declined significantly, it is basically unrealistic to continue to make a certain space under such a large divergence.

At this time, we will lighten up our positions on the popular main lines of the market such as 'infrastructure' and 'military industry'.

Nothing terribly wrong either.

It's just that when following the low main line of the market, I was indeed a little too anxious.

Looking at today's intraday market trend, a lot of funds have tried several times in different directions, but the results have not been able to drive the corresponding market sentiment and the consistent synergy of funds. The timing of the market switch is not yet ripe!
When we followed up the low-level main line of "technological growth", we were indeed too anxious.

According to the current market sentiment, we still focus on the corresponding core hot lines of the market such as 'infrastructure' and 'military industry'.

The line of 'technological growth' should be reminded of momentum.

In a short period of time, without the strong stimulus from the macro news, or the performance performance of some core stocks exceeding expectations, it may be difficult to attract market investment sentiment and hype sentiment, and gather in this direction to condense a continuous profit-making effect. and continued upward trend.

Fortunately, the main line of "technological growth" has been lagging behind the broader market for several months.

Although, in the current market, the majority of investor groups, as well as many major capital groups, cannot form a consistent expectation in this direction, and at the same time, the market capital groups are entangled in the current hot main lines of the 'infrastructure' and 'military industry' markets, which also leads to The amount of low-level mainline funds in other markets is seriously insufficient.

However, fortunately, this main line of 'technological growth' has been adjusted for one consecutive quarter.

The risk in valuation has been fully released, and it has become relatively reasonable. Compared with popular mainline stocks such as "infrastructure" and "military industry", which have continued to skyrocket, they have been underestimated.

Such factors come together.

It also means that even though the timing of the high-low switching is not right, and the time to intervene in the low-level main line of "technical growth" is too early and early, we will not suffer any excessive losses and risk of retracement. It's just a little bit of the emotional premium in the fishtail stage of the core main lines of the major markets of 'infrastructure' and 'military industry'.

As long as our overall macro strategy, there is no problem.

Then, in terms of timing, it is almost a little bit, but the impact is actually not big, so don't worry too much about it. "

After listening to Chen Yihe's words, Gao Xiang felt a little better, but after pondering for a moment, he said again: "Although it is so, it is easy to sell, but it is difficult to buy back. We prematurely follow the idea of ​​'switching between high and low' After the position adjustment, we lost the bargaining chips in the core and main areas of the market such as 'infrastructure' and 'military industry', and then we can only stick to the idea of ​​'high-low switching'."

After the amount of funds is too large, it becomes more and more difficult to switch trading strategies.

In other words, once you make a mistake, even if you wake up, it will be difficult to adjust your position and give back in a timely manner. Often after you make a mistake, you can only make up for it through other strategies.

This is also a lot of industry fund products.

Often after catching a wave of the main line market, once the main line market trend is over.

Either it is difficult for them to react in time, and their net worth reverses with the trend of the main line market, and they have a sharp retracement, and then fall back, or they lose the second half of the profit after adjusting their positions prematurely, and then lose their profits on other main lines. The profit was lost. In short... With a huge amount of funds, it is very, very difficult to move and switch flexibly. Often operations are either too long ahead of the market or too long behind the market.

"There is no other way." Chen Yihe said, "Since the trading strategy has been implemented, we can only expect in an optimistic direction."

Gao Xiang nodded, and said worriedly: "Mr. Chen, I'm thinking that the current popular main lines of the major markets of 'infrastructure' and 'military industry', after the discrepancies in the market continue to increase, it is impossible to open up new ones. In the current market situation, it should be a relatively certain thing for the market to do the main line switching of "high and low switching".

It's just... what should we do if the main line of the market's "high-low switching" is not the main line of "technological growth" that we intervened in advance? "

"Isn't it the main field of 'technological growth'?" Chen Yihe heard Gao Xiang's hidden worries, pondered for a moment, and responded, "The probability of this should be extremely small, after all, when 'infrastructure' and 'military industry' When the profit-making effects of several current core main lines of the market are gradually decreasing, and the profit-making selling pressure continues to become more and more intense, when funds generally flee from these core main lines.

Looking at the entire market, it seems that only the well-adjusted main line of "technological growth" can undertake the market, and only in the direction of this main line can the future expectations be relatively certain, right?Other low-level market mainlines are always inferior in terms of future expectations and certainties.

Also, based on the past historical performance of the market, once the main board falls into adjustment.

Large-cap stocks are bound to shift to small- and medium-cap growth stocks.

So, if the market really undergoes a 'high-low switch', there is indeed a high probability that the main line of the market will shift to the line of 'technological growth'.

Of course, expectations are expectations, and the actual trend of the market is the actual trend.

When we invest, we can only formulate investment and trading strategies according to the development of high-probability market trends, so as to obtain high-probability market profits. It is impossible to say that we can be certain.

If the actual development of the market does not match our expectations.

That is to say, the profit-making effects of the popular main lines of the market such as "infrastructure" and "military industry" are gradually weakening, and the profit-making funds in these fields are increasingly fleeing, thus intervening in the low-level main line of the market, but the low-level main line involved is not what we expected. When growing up the mainline...

What we can do is only after the market trend becomes clear.

Make error corrections and adjust investment strategies and trading strategies in an all-round way.

It's just that the current market changes and trend changes, although some slightly exceed our plan expectations, but they are not completely out of our plan expectations.

Although our position adjustment strategy is somewhat ahead of the market changes.

However, the actual changes in the market are only lagging behind, and have not deviated from the scope of the plan.

That being the case, at this time, we don't need to worry about things that may not necessarily happen in the market. The most important thing is to do well in the present moment! "

"Okay!" Gao Xiang nodded and said, "Then we will execute according to the current investment strategy and trading strategy, try to control the retracement and position as much as possible, and wait for the market to fail in the popular main lines such as 'infrastructure' and 'military industry'." Open up the upward space, and the market's "high and low switch" will occur after the profit-making effect is gradually lost."

Chen Yihe nodded slightly, seeing that Gao Xiang already understood the pros and cons of such a position adjustment, so he didn't say any more.

And as the two of them aimed at the market, the thoughts of the fund's overall adjustment strategy and trading strategy change escaped, hidden worries, and risk reviews.

Unknowingly, the time has moved to around 5:30 pm.

The list of dragons and tigers in the two cities was announced.

I saw that after the violent fluctuations in the day, a total of 49 stocks were on the list today. Similarly... Among the stocks on the list, the two main industries of 'infrastructure' and 'military industry', as well as 'Asia-Europe Economic Belt' and 'new Times Road, Maritime Silk Road', 'Reform and Reorganization of Central Enterprises and State-owned Enterprises' and other popular stocks and leading concept stocks of several core concept themes, and hot money from all walks of life that are active on the Dragon and Tiger List also mainly gather in these main lines field.

"Institutions sold net, while hot money undertook, still violent."

After reading the data of the Dragon and Tiger Lists of the two cities, among the retail investor groups gathered on the major stock discussion platforms on the Internet, the enthusiasm for discussions on the Dragon and Tiger Lists has increased significantly.

"I didn't expect it to be the institutions that smashed the market today. Are these guys crazy? If these institutions don't smash the market today, maybe the Shanghai Stock Exchange Index will be another big positive line with heavy volume, and it will rush to the 2900 point."

"Fortunately, in terms of the data performance of the entire Dragon and Tiger List, funds still show a state of net buying."

"The main hot money seats are also very active."

"The fly in the ointment is that Mr. Su's seat on 'Fortune Road' still hasn't appeared. It feels like Mr. Su's 'Fortune Road' seat has not appeared for almost a quarter, right?"

"Well, it's been more than a quarter, but now Mr. Su's seat on 'Wealth Road' basically overlaps with the trading seat of the main fund of the 'Yuhang Department', although Mr. Su's seat on 'Wealth Road' no longer appears in the It is on the Dragon and Tiger List, but according to the position data and net worth performance occasionally released by the 'Yuhang System', we can still know the exact position of President Su, as well as the main direction of the market that he is mainly optimistic about."

"That's right, it's just not long since the holding data and net worth performance of the main funds of the 'Yuhang series' were released. Now these main fund products have entered the stage of fully closed operation, and it is difficult to continue to detect Ah, but... I guess Mr. Su's core holdings must still be on the hot market lines of 'infrastructure' and 'military industry'."

"It's okay to use the recent data as a reference. Anyway, the fund products under the management of President Su are so large. If you want to adjust the position, you will definitely not be able to escape the data of the dragon and tiger list. Moreover, many companies will soon have their third quarter reports. It has been announced, and from the third-quarter report data released by many Yuhang companies known to hold stocks, it is also possible to detect from the side whether President Su still holds these stocks."

"Haha, it makes sense, indeed... Wait for the third quarter report, and you should be able to see it."

"The third quarter report should be in October or November, right? I think the position data of the 'Anzhao Fund' company acquired by Mr. Su's 'Yuhang Investment' company can also tell us something about Mr. Su's attitude towards the market situation. ideas."

"It can't be? Fund managers are all different."

"There is still a certain reference."

"But at present, several main fund products under the 'Anzhao Fund' company have not high holding weights in a series of popular main line fields such as 'infrastructure' and 'military industry', and the fund products they manage have low net worth performance. It is rare and ordinary, and it cannot be compared with the main fund products of the 'Yuhang series' at all."

"Hey... When did the main fund products of Anzhao Fund Company transfer their positions to so many 'big finance' fields? I remember looking at their holdings before, and the focus is still on 'infrastructure' and 'military industry' Waiting for the core main line of the market?"

"'Big Finance'? Is there any mistake, 'Big Finance' is a rubbish sector, can it go up?"

"Hey, I don't understand it, it doesn't feel like it has any reference."

"I really don't understand this level of position adjustment, but fortunately, the main fund products of 'Anzhao Fund', after absorbing a large group of investors who subscribed for purchases, closed the purchase and redemption channels in time. Fund products with fully closed operation, otherwise, with their level of rebalancing, investors will probably be scolded."

"I'm afraid there are many people who are already scolding their mothers in their hearts?"

"Hey, don't analyze this, analyze that. At present, anyway, according to the market trend, you don't have to worry about the core main lines of the 'infrastructure' and 'military industry' markets. You can just hold your positions with peace of mind. There's a big wave of profits."

"The trend of the past two days has proved that the core main lines of the major markets of 'infrastructure' and 'military industry' cannot fall at all."

"If you can't go down, then you can only go up!"

"Haha, I agree... So I increased my position again today. Fortunately, I increased my position at a low intraday position. Otherwise, I would probably have to chase higher tomorrow."

Everyone is continuing to discuss the data of the Dragon and Tiger Rankings.

Although everyone has seen that the institutions, which are the core and main capital groups in the market, have taken profits out of the market on a large scale, but at the moment when hot money is hyping hot spots, promoting concept leading stocks to further gather emotions, and create new connecting board space upwards, everyone's The emotional performance is still extremely high-pitched and exciting.

At this time, very few investors have realized that the main line fields such as 'infrastructure' and 'military industry' have become more and more obvious adjustment risks.

Of course, even if there are very few investors, they put forward corresponding risk views on online stock forums.

In the next moment, it will be besieged by a group of bullish investors.

All of a sudden, the entire Internet and related stock discussion platforms were full of voices singing and watching the core market trends such as "infrastructure" and "military industry".

The consistent expectations of the bulls are in the violent amplitude of these major core lines for two consecutive days.

Not only did it not weaken, but it became more and more intense! (end of this chapter)