Rebirth of the Investment Era.

Gao Xiang said with a smile: "Everyone can realize that there are obvious differences in funds and long-short differences in popular main lines such as 'infrastructure' and 'military industry'. You can feel that the pressure on these popular main lines is increasing. It is difficult to open up the upside space.

The 'Yuhang Department', the most intelligent main force in the market, can't possibly fail to perceive it, right?
Moreover, the funds of the 'Yuhang Department' hold positions in popular main line fields such as 'infrastructure' and 'military industry', which have a very large position cost advantage.

Although there are many core constituent stocks in the main line fields of "infrastructure" and "military industry".

And it can be observed that for the constituent stocks held by the 'Yuhang Department', the recently disclosed data on the Dragon and Tiger List does not show the shadow of the 'Yuhang Department' trading seats.

However, I think that the funds of the 'Yuhang Department' must have already made some moves to adjust their positions.

Otherwise, follow the trading style of President Su of the 'Yu Hang Department'.

It is estimated that the popular main lines of "infrastructure" and "military industry" will not be allowed to lag in this position for so long, and they must have led the market to make a breakthrough long ago.

After all, on the whole, the current sentiment on the main lines of 'infrastructure' and 'military industry' is not bad.

The main force of the 'Yuhang Department' has a strong influence on the market.

As long as the funds of the "Yuhang Department" can guide the main market trends of the major markets of "infrastructure" and "military industry", then I think that even if there is no unanimous cooperation of the main funds in these major major market areas, they can still be relatively hot. With the help of emotional support, go up for a period of time.

It's just that this period of forced upward attack is probably the real peak market.

And according to the usual trading style of the "Yuhang Department" fund, this fund also knows that the core lines of "infrastructure" and "military industry" have come to this point, and it is difficult to achieve a benign breakthrough in the trend. Inducing the market is nothing more than giving better opportunities to lighten up positions for some institutional groups that are currently gathering on the main lines of "infrastructure" and "military industry" and have the desire to reduce positions and take profits, and do wedding dresses for these institutions.

At the same time, this senseless forced upside.

If there is no real market space, it is estimated that it will also bring negative feedback to the huge influence of the "Yuhang Department" fund in the market.

Therefore, after comprehensive consideration, follow the trading style of the funds of the 'Yuhang Department'.

They will definitely not be in this position and continue to attract the relatively high levels of the 'infrastructure' and 'military industry' in the market. In the continuous market trend in the early stage, they have accumulated a large amount of profit-making main lines to do unnecessary forced pull disc behavior.

Now that we understand the main lines of 'infrastructure' and 'military industry', we cannot make a substantial breakthrough at present.

Moreover, the market of these popular main lines has no room for continuous upward trend in the short term.

According to the sensitivity of the fund of the 'Yuhang Department' to the market and the previous style of this fund, the other party will inevitably switch positions.

Otherwise, the main fund products of the 'Yuhang Department' will not always maintain such a high performance growth curve. "

After listening to Gao Xiang's analysis, Chen Yihe pondered for a while, then nodded, with a bright color in his eyes, and said with a smile: "Your analysis makes sense, 'infrastructure' and 'military industry' For several popular main lines in the early stage, under the circumstance that the accumulation of internal profits is extremely heavy, and the mid-term increase far exceeds the performance of the market index, the funds of all parties have obviously ebbed.

Coupled with the recent large number of new retail investors in the market, they have poured into this field, and high positions have taken on a lot of chips.

Under the current situation, funds cannot work together, and they are unwilling to carry the sedan chairs for a large number of retail investors who undertake high-ranking positions. It is obviously doomed that the popular main lines of 'infrastructure' and 'military industry' cannot continue to break through in the short term.

This morphological manifestation, since it happened.

Well, it is indeed impossible not to perceive such a smart main force in the market as the 'Yuhang Department'.

According to their previous trading style, it is indeed possible to realize the adjustment of positions in the recent continuous sideways trend of the popular main lines of 'infrastructure' and 'military industry'.

However, in the current market, other major low-level main lines have not been able to form a unified force.

I haven't seen any traces of a large-scale main force organization with tens of billions of funds like the 'Yuhang Department' that has adjusted its positions!

There are quite a few constituent stocks and concept stocks that have been listed on the Dragon and Tiger List recently in the low-level core main line fields such as 'Technology Growth', 'Big Consumption', 'Big Finance', and 'Non-ferrous Cycle', but none of them found 'Yu' Airline' the slightest trace of this funding.

It seems that this stock of funds has recently disappeared from the market out of thin air.

There is really no trace of it. "

Gao Xiang took the words and continued: "With the influence of the funds of the 'Yuhang Department' on the market, the other party should deliberately avoid the dragon and tiger rankings in their operations. After all, there are not only us, but many, many others inside and outside the entire market. The main fund groups should all be paying attention to the movement of the 'Yuhang Department' fund.

As for the funds of the 'Yuhang Department', they must know that everyone is paying attention to him.

Therefore, to avoid the investment strategy being affected, or if someone attacks the stocks they want to adjust and build positions in advance, they will naturally deliberately hide the traces of the market.

At present, from the disk, we are still not sure where the funds of the 'Yuhang Department' have been transferred.

But basically, it is certain that the core main position of this fund is definitely not in the main line of 'infrastructure' and 'military industry', which they held and locked up on a large scale in the early stage.

However, according to my previous historical review of the funds of the 'Yuhang Department'.

And last time in June, the funds of the 'Yuhang Department', on the main line of 'big infrastructure', were compared with other major funding institutions.

For the funds of the 'Yuhang Department', the core rebalancing route should not be the line of 'technological growth'. "

"Why are you so sure?" Chen Yihe asked.

Gao Xiang responded: "Because there are many people who are optimistic about the line of 'technological growth', and the future expectations of this line and the fundamentals of the industry are basically bright cards, hoarding in the main line of 'technological growth' There are really many lurking and ambush major capital groups.

A few months ago, in June.

The market is in the two main lines of 'big infrastructure' and 'technology growth'.

It chose to break through the main line of "big infrastructure", which caused the line of "technology growth" to seriously underperform the market index in recent months.

However, even so, according to the semi-annual report data.

In its field, the accumulated institutional positions are still within the main lines of the market, and the positions are relatively heavy.

Moreover, the line of 'technological growth', because the future is basically expected to be good, and the fundamentals of the industry still have room to explode, so although this line has been undergoing adjustments, the overall decline is not that deep , and the popular stocks, such as LeTV, Wangsu Technology, Huayi Brothers, Dongfang Fortune...etc., the valuations are still quite high, basically above 150 times PE.

Analysis from the perspective of future expectations.

These tickets have a certain investment value, but there is not enough expected difference!
I think this is also the reason why many people are optimistic about the line of 'technological growth', but this line has not been able to form a unified force of funds and fail to break through the market.

So many latent disks are piled up on the line of 'technology growth'.

I think that according to the style of the funds of the 'Yuhang Department', it is definitely not possible to enter this line and lure large-scale positions to give these potential funds a lift. "

Chen Yihe thought for a while and said: "If it's not the main line of 'technological growth', then there are only two main lines of 'big consumption' and 'big finance', which are possible. After all, the line of 'color cycle' , the capital synergy is the weakest recently, and the serious problems of overcapacity and sluggish market demand in major industries have not yet been resolved, and there are considerable problems in the basic investment logic.

Most institutions on and off the field do not agree with this main line.

I think the market basically disagrees, and there is no main line supported by basic investment logic.

The funds of the 'Yuhang Department' should not be the first to enter this main line to build positions on a large scale, and want to guide the market of this main line, right?

After all, according to the past operation of this fund.

They are also following the market trend and the direction of the general trend that may occur in the market. They will not operate against the trend and fight against the capital groups of the entire market. "

"Hmm!" Gao Xiang responded, "I think so too, and I think that the 'Yuhang Department' funds are more likely to be in the direction of 'big finance' in the direction of rebalancing than the 'big consumption' sector." .

After all, in the field of "big consumption", the logic of investment is actually lacking.

At least for now, the signs of economic recovery are not very obvious. There are expectations for the future, but there are still certain uncertainties.

In contrast to the line of 'big finance', there are not so many uncertain factors at present.

And after careful analysis, under the expectation that the regulators still care about the market and hope that the market will continue to strengthen, the future benefits of the main line of "big finance" are more or less predictable, and the current market continues to strengthen. The increase in transaction volume, the sharp increase in the balance of financing and financing, and the official opening of Shanghai-Hong Kong Stock Connect next month, the official listing and operation of A50 index futures and China Securities 500 index futures.

These, for the 'big financial' sector, are expected to be good.

Analyzing from this direction, the funds of the "Yuhang Department" are very likely to focus on the direction of the layout of the warehouse, that is, the current funds have been gathered, but the gathering effect is not strong. Infrastructure', 'military industry' and other popular main lines of 'big finance' where there are certain differences in funds in the early stage.

Moreover, analyze from another direction.

The huge capital flow of the 'Yuhang Department' is only the liquidity of the 'big finance' line, which can be fully carried without showing any traces, right? "

"Hehe..." Hearing Gao Xiang's analysis, Chen Yihe couldn't help but smile, and said, "The analysis is very reasonable. It's time to pay attention to the line of 'big finance'. The so-called 'big bull market' If the market wants to start, the 'brokers' must act as the pioneers!

It feels like at this time, the market is not rushing sideways and has been accumulating strength.

Indeed, it is time to focus on the layout of the "brokers" sector and look forward to the "brokers" taking the lead and making breakthroughs in the market. "

"Yeah!" Gao Xiang continued to nod his head, and there was a hint of excitement in his eyes, "Since you agree with the logic of my analysis, then our fund will focus on rebalancing in the direction of 'brokers'."

Chen Yihe said, "Okay, no problem."

Hearing Chen Yihe's firm words, Gao Xiang smiled, turned his head hastily, and immediately issued a trading strategy to the traders in the trading room to further adjust their positions in the direction of "brokers" in the market.

Then, when he issued the corresponding trading strategy.

Looking back, I turned my attention back to the time when the two cities traded.

I saw that at this time, the time trading time has entered after 9:35, and the two cities have formally conducted 5-minute continuous bidding transactions.

Under the fierce long-short game.

'Infrastructure', 'military industry' and other popular core lines in the market, the corresponding weight constituent stocks and leading concept stocks that were sharply slumped by funds yesterday, although they have strengthened at this moment, the divergence of funds on the market is still very large, and only the upward trend After a short period of increase, it entered the sideways stage of heavy volume and stagflation.

The main line of "technological growth" is generally under the condition of opening lower.

At this moment, due to the general stop loss operation under the loss of follow-up funds in the intraday market yesterday, it went further lower, and fell into a weak and volatile downward trend.

Moreover, its main capital flow has been slowly flowing out since the opening of the market.

As for the main line of the concept of 'sports industry development' that formed the trend of daily limit yesterday, and the 'sub-new shares' sector.

At this moment, these two major sectors, driven by the two leading stocks of 'Leiman Optoelectronics' and 'Lanshi Heavy Equipment', went straight to the daily limit at the opening of the market, and were driven by the daily limit again.

In its field, a group of related concept stocks also rose further and continued to break through.

As a result, the money-making effect in these two main concept areas is still hot, and it continues to become the leading related sector among the concept sectors in the two cities.

In addition to these mainline areas.

Such as other "big consumption", "color cycle" and "big finance" main line areas.

The main line of "big consumption", such as liquor, white goods, automobiles, food sales and other industry sectors and concept sectors, performed tepidly, and the volume remained stable. They followed the fluctuations of the Shanghai stock market, without independent market awareness, and did not appear as the main force There are traces of centralized fund making.

The main line of 'Color Cycle' is similar to the trend of the main line of 'Technology Growth'.

The corresponding industry sectors and concept sectors are obviously weaker than the broader market, and there is no sign of major capital inflows in this main line field, and the volume energy is the most sluggish in all main line fields of the entire market. Basically, it is the main line of the market. , It looks like it is completely abandoned. On the disk, it is completely retail investors participating in the transaction.

And the line 'big finance'.

Especially the 'brokers' sector, after the official opening.

The main capital flow within the sector began to flow in at an accelerated rate.

Moreover, the corresponding individual stock trend, although there is no radical trend of straight-line market pull, but the continuous upward trend of shocks is still obvious, and whether it is a rise or fall on the time-sharing line, it is better than the market index. That is, when the market rises, the corresponding stocks of the brokerage firms rise more, and when the market index falls, the corresponding stocks of the brokerage firms decline less.

However, under the performance of brokerage firms that were significantly stronger than the market.

The relative performance of the banking and insurance sectors in the main line of "big finance" is still relatively sluggish.

"Boss, I feel that the flow of main funds in the 'brokers' sector is a sign of acceleration!" At around 9:45, Yuhang and Yuhang Investment Company, inside the main fund trading room, observed the changes in the two markets. Team leader Wang Can pondered for a moment, then turned his eyes to Su Yu who was aside, and said with a smile, "I feel that many stocks in the 'brokers' sector are a little bit underwhelming."

"I feel a little overwhelmed." Zhao Lijun, who has been promoted to a fund manager, stared at the trend of the stocks of a group of brokerage companies, and replied, "For many of the stocks of brokerage companies, the active buying has been significantly greater than the selling, and in the brokerage When the sector visibly fluctuated and rose, other sectors of the market did not react too negatively."

Li Mengmeng thought about it, and at this time also answered: "The brokerage sector has indeed begun to show a continuous positive feedback effect. At the same time, the main line of 'big finance', the main fund accumulation effect, has also begun to become much heavier than before. However, judging by the signs of funds following the trend in the market at this time, it should not be time to guide the market and make a breakthrough."

Su Yu heard the voices of the three talking and discussing, nodded slightly, and said with a smile: "Yes, it's not yet time for the real breakthrough of the guide board.

After all, at this time, there are still great differences in the main lines of the market and the main funds.

First of all, the popular main lines of 'infrastructure' and 'military industry' in the early stage have not completely lost their profit-making effect, and the short-term head reaction is not obvious. There are not a few popular mainline funds with breakthrough expectations.

Secondly, on the line of 'technological growth', there are also a lot of major capital groups gathered.

Moreover, this part of the main capital group gathered on the line of "Technology Growth" is obviously intended to maintain the main line of "Technology Growth", and these main capital groups have not lost interest in the market of the "Technology Growth" line. Before confidence, these funds will not withdraw on a large scale and pour into other core main lines.

There are also the two major areas of 'sports industry development' and 'sub-new shares'.

This time, it also gathered a lot of major capital groups to participate.

A lot of short-term active funds in the market are currently concentrating on speculation in these two areas.

If we want to truly guide the market of the "brokers" sector, and if we want to concentrate the main capital flow of the entire market to the "brokers" sector, and directly create a hot money-making effect and a substantial breakthrough in the market at one stroke, we must wait until the market really The time has come for the mainline switch.

We have to wait until the profit-making effect of the popular main lines of "infrastructure" and "military industry" further declines, and the money-losing effect gradually permeates. Only then can we guide the capital flow in these popular main line fields to quickly flow into and converge on the low main line.

We still have to wait for the 'technological growth' line to make another wave, forming greater differences, and let the fund groups who gather in the field of the 'technical growth' line think that this line will become the next core breakthrough in the market. , further loss of confidence.

We have to wait until the two major concepts of 'sports industry development' and 'sub-new shares' are the main market trends.

Gradually coming to an end, when the hype fund groups currently gathering in these two main market fields start to ebb and retreat.

At that time... it was the time for us to work hard to guide the "brokers" sector and break through the market.

It is said that 'brokers' are the vanguard of the bull market.

Since our goal is to open the curtain of the "big bull market" and let the expectations of the "big bull market" penetrate into the hearts of all market investors.

Then, when we pull the market, we must be foolproof.

You have to work hard and use your strongest posture to hit the market of the "brokers" sector. "

In the trading room, the members of the trading teams felt more or less excited when they heard Su Yu's inspiring words.

"So, before the time comes, we have to be patient." Su Yu looked around the trading room, took a look at everyone's expressions, and continued with a smile, "We have to be like hunters, we must wait in place before pulling the trigger, Standing still and waiting for the prey to get close to the optimal shooting range, so that the first shot can be sure."

"Okay, I understand!" Wang Can nodded.

The other traders in the trading room, as well as the heads of the trading teams, also nodded firmly.

At present, under the guidance of Su Yu, the warehouse is adjusted.

The 4 main funds of the "Yuhang Department" have a total capital flow of 1000 billion, and there have been more than 600 billion funds. In the one-month continuous buying and trading strategy, they have entered the main line of "big finance".

And positions in other main line directions.

It is already only a bottom position, which is not enough to have an excessive impact on the net value of the fund.

At this time, what they lack is only a hint of disc opportunity and news opportunity that will lead to a comprehensive breakthrough of the entire "big finance" main line.

It doesn't matter which of these two opportunities comes first.

They will bombard the remaining tens of billions of funds on the core stock market of "big finance" in an all-round way, and play the main line of "big finance" investment sentiment and extreme profit-making effect in one fell swoop, thereby unveiling the curtain of the "big bull market".

Accompanied by the waiting of the entire 'Yuhang System'.

At the same time, the company 'Anzhao Fund' which has been incorporated into the capital system of the 'Yuhang System'.

In the trading room of the main fund, Qin Qiuyue, the general manager of the fund, saw that it had been more than a month since her own fund was transferred to the main line of "big finance", and the main line of "big finance" was still standing still, and there was no real breakthrough in the market, but her brows were obviously frowned Wrinkled, and began to doubt whether it was correct for me to follow Su Yu's suggestion and adjust the position to the main line of "big finance" in advance.

"Why is there still no movement?" Qin Qiuyue sighed helplessly.

Zhou Hui, who has been promoted as the main fund manager, stared at the market, thought for a while, and said with a smile: "It should be... soon, I think the overall divergence in the market is getting bigger and bigger, and today's 'brokers' sector, It has already changed a bit, and the energy performance is obviously more positive than usual.”

"Hey..." Qin Qiuyue sighed softly, "Over the past month or so, the net value of our various fund products has basically not changed at all. The investor group who trusted us before now has a lot of complaints in their hearts, and these The investor group is based on the fact that our fund can replicate the performance of the 'Yuhang series' fund products. If the market of the 'big finance' line does not improve, I am afraid that the complaints of investors will deepen , our organization is afraid that it will be pushed to the forefront of the industry!" (End of this chapter)