Chapter 402 Market Divergence Reappears!

Amidst the concentrated explosion, the Shanghai Stock Index surged upward within 30 seconds after the market reopened, reaching a straight line of 2481.39, setting a new intraday high and a new high for this round of rebound, bringing the day's gains to a rapid It has reached the 2% position, getting closer and closer to the important mark of 2500 points.

However, the next minute.

At 1:01, after briefly hitting 2480 points, the Shanghai Stock Index turned around and quickly fell.

Immediately afterwards, at 1:02, a number of high-priced stocks in the two popular core main areas of "infrastructure" and "state-owned enterprise reform" began to further explode in volume, and the active selling orders on the market showed a trend of substantial increase.

At the same time, other main line areas are directed.

For example, in the "growth stock" field of the small and medium-sized board and GEM, "big financial" and "cyclical non-ferrous" fields, especially the core mid- and large-cap stocks that are heavily held by institutions, there are also instantaneous concentrated selling, which affects each stock and related stocks. The industry sector index formed a suppression.

At 1:05, the Shanghai Index returned to below the 2476 point, giving up all the gains made within a few minutes of the opening.

At 1:06, a group of "infrastructure" core stocks such as Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, and Huaguo China Construction fell rapidly due to a large amount of concentrated selling. Among them, Huaguo MCC appeared After seeing the scene of 100,000 lots smashed on the daily limit board, its daily limit board opened.

At 1:08, with MCC's explosion, the market's extreme enthusiasm showed signs of subsiding.

At 1:10, the Shanghai Stock Index fell back below the 2,470 point, and the increase retraced to around 1.5%. At the same time, the daily limit stocks in the two cities also dropped from nearly 60 to around 50, and several stocks experienced a crash.

At 1:15, Huaguo Construction's growth fell back to 5%, and its transaction volume exceeded 1.3 billion.

At 1:17, the market's time-sharing capacity was exhausted. The concentrated selling on many popular stocks began to subside, and the gains in indexes and individual stocks also began to slowly rebound.

"Why do you always feel like you're short of breath?"

Seeing the market plummeting for no reason at the beginning of the afternoon session, some retail investors on the stock trading forum where the discussion was intense felt helpless.

"The range of 2,400 points to 2,500 points was originally the peak area where the index fell from its high level last year. The hold-up was extremely heavy and the intraday trend was repetitive, which is normal. Look at yesterday and the day before yesterday, when the index broke through upward, it was not without difficulties. Will the fluctuations continue? But overall... after the index enters the range of 2,400 points to 2,500 points, no matter how it fluctuates, the central support center of gravity has been rising. "

“Looking carefully at the K-line trend of the index, we can see that it is indeed constantly fluctuating and rising.”

"There is nothing to worry about. No matter how volatile the market is, the index will continue to rise. After all, the upward trend has been formed. There are no major negatives and it is difficult to change."

"The Shanghai Stock Index is only one or two points away from 2,500 points. Either today or tomorrow. Anyway, this week, the Shanghai Stock Index will definitely reach 2,500 points."

"After the previous lessons, no matter how the market shakes now, I will hold on to the chips in my hand."

"Shock it, shake it. Maybe when the Shanghai stock index attacks 2,500 points, the pressure will be lighter."

"Just keep an eye on the trend of Beixin Road and Bridge, the most popular stock in the two cities. This check is the highest speculation target in the market. As long as the price of this check has not ended, the prices of the two core main lines of 'infrastructure' and 'state-owned enterprise reform' will It is definitely not over, and in the recent period...the Shanghai Stock Index is completely supported by these two main lines. As long as the two core main lines of 'infrastructure' and 'state-owned enterprise reform' do not end, then the upward trend of the index will naturally be It’s not over yet, we are firmly optimistic about the Shanghai stock index hitting 2,500 points!”

"We are also optimistic. This wave is definitely the start of the bull market."

"Those who are willing to sell, please sell now. I will wait for those who sell at this time to recover their chips when the Shanghai Stock Index reaches 2,700 points or 3,000 points."

"You're so scared at the slightest sign of trouble? That's it!"

"This dive is too normal. It is obviously the main funds in the market who are conducting the final wash."

"What are you afraid of? Several popular main lines in the market, as well as related concept sectors, are still in a state of large net inflows of funds. The Shanghai Stock Exchange Index's 2,500 points is not a problem at all!"

"Everyone, the pattern, the pattern needs to be opened!"

"Holding stocks is inherently the most difficult. I suggest that those who are unsure should stop reading the market now to avoid being nervous."

"Normal adjustment, just watch. At the close, even if the Shanghai Stock Index cannot touch 2,500 points, it will definitely be able to set a new intraday high."

"Today will definitely be a positive trend, so there is no need to worry at all."

“Here we have to lure the short side and clean up the floating chips, so that there won’t be so much selling pressure during the final attack, so a short dive is very normal.”

"MCC's fried panels mean nothing."

"Look, isn't the index rising again? Let me tell you... rushing to sell funds at this time is stupid!"

"Anyway, I am on the Dragon and Tiger list. If I don't see Mr. Su sell my seat, I will never hand over my chips easily. After all, I have suffered a lot of losses before."

"In a market with an upward long-term trend, if you want to make the most profit, you have to cover your stocks!"

"Yes, the bull market is coming, and you must stick to it in order to maximize profits."

"Look at the market sentiment and the trading volume. I really don't believe that we can't get 2500 points."

"Looking around, whether on or off the market, it's all good news. And when I passed by the brokerage business department yesterday, I observed that the number of people opening accounts was obviously increasing."

"Yes, there are still many people who haven't entered the market. There will definitely be big market trends in the future."

"The 'New National Nine Articles' are the engine of the bull market. We are firmly optimistic and firmly hold shares. This time... we must hold on to the high-quality chips in our hands."

In many retail groups, the market's short-term large-scale plunge is not taken seriously at all, and they continue to be optimistic about the future market. They are very optimistic and expectant about the Shanghai Composite Index hitting 2500 points and even the 'bull market pattern'. At this time, some of the main hot money internal discussion groups, many of the main hot money who are more sensitive to the market, are in a state of panic and have a hint of worry.

For example, in the Yuhang main speculator group where Su Yu is located...

There is a large speculator with a heavy position in China Metallurgical Corporation. After China Metallurgical Corporation's huge stock explosion, he quickly raised a question in the group: "Is there any bad news in the market news? Why are there so many core blue-chip stocks suddenly selling so much?"

Although most of the main speculators have certain advantages in collecting market news intelligence.

But for decision-making changes such as "IPO restart" from the regulatory level, large institutional groups with state-owned backgrounds have a much faster priority in obtaining information than them, so...when the relevant rumors begin to spread from the inside to the outside, they will not be informed in time, and can only make side guesses based on the flow of funds on the market and the changes in stock prices, and use their own information channels and personal connections to verify.

"Everything is calm, and there doesn't seem to be any bad news?"

"There seems to be a wave of concentrated selling of blue-chip stocks in the market just now, and most of them are core stocks in the two main areas of "infrastructure" and "state-owned enterprise reform". Among them... Mr. Su holds a lot of stocks! Could it be... Mr. Su reduced his position and stopped profit in advance?"

"Could it be Mr. Su? But Beixin Road Bridge, the concept stock that Mr. Su holds heavily, has not moved much!"

"Beixin Road Bridge's trading volume today is also quite explosive. Mr. Su's holdings in this stock should be around 120 million in total. According to Beixin Road Bridge's trading volume data today, it can be sold."

"Huaguo Zhongye is indeed a component stock that Mr. Su holds heavily, but the main force of this check, in addition to Mr. Su, also has the seat of Zhang Mengzhu , the 100,000 sell orders just now may not be the work of Mr. Su, and according to Mr. Su's sharp method, the more than 10 billion chips in his hand, once sold, will not only cause this fluctuation. "

"What's going on? I have a bad feeling in my heart!"

"Don't worry, the hot main concept stocks in the entire market are generally quite stable, and the number of rapid dives and explosions is not large."

"2500 points are just around the corner. With such strong market expectations, it doesn't make sense not to touch it, right?"

"I always feel that there is some potential market negative."

"After the market entered 2400 points, it has been quite slow in recent days. I don't think there is any need to worry too much. Looking at today's trading volume, market liquidity is obviously climbing rapidly , in this case, even if the market suddenly encounters negative news, it is very easy to exit the position. "

"Yes, as long as it is not like the previous liquidity depletion, I am really not afraid of negative news."

"Let's wait and see. The previous dive was indeed a bit strange, but it is still unclear what the situation is. Let's see how the market reacts in the future."

"There are still many main funds that continue to increase their positions today. I feel that the index should continue to rise."

"Today's market should not fall much."

"As for whether Mr. Su sold his chips during the trading session, there should be traces on the Dragon and Tiger List after the market."

"The volume is still going up, don't worry."

"Hey, I don't feel right either. I'm timid and I'll withdraw first."

"I'll stay for a while. I feel that the high point of this wave of the index should be around 2500. points, and Beixin Road Bridge's check has become a big monster. It may become a bull stock with a return of 5 or 10 times. I feel that Mr. Su is likely to lock his position today, otherwise Beixin Road Bridge would not be so determined to close today. "

"I feel that the previous wave of selling was all stocks that institutions gathered in. Maybe there is really some bad news."

"These institutions are too cowardly. They all want to sit in the sedan chair, and no one wants to lift the sedan chair or assist."

"I originally wanted to raise my hand again to assist the Shanghai Composite Index to hit 2500 points. After hearing what you said... I began to hesitate again."

"Let's see the changes in market volume and market trends in the next hour or so!"

"Yes, don't grab this time."

Under the keen perception of the market by hot money, everyone's trading strategies began to diverge.

Such divergence is reflected in the market. After 1:20 p.m., the intraday volume of the entire market has obviously further declined. The main funds of all parties have begun to act cautiously, while the majority of retail investors are still actively increasing their positions and following the trend at high levels.

At 1:25 a.m., Huaguo Zhongye tried to return to the daily limit, but there was no strong main fund to help close the limit, so even if the stock price was temporarily pushed up to the daily limit, it could not be closed.

At 1:26, China Metallurgical Co., Ltd. once again encountered a large amount of concentrated selling, and the stock price also fluctuated and fell again.

At 1:30, after the Shanghai stock index shrunk and rebounded, it began to fluctuate around the 2460 point to the 2470 point. It was difficult to go higher. The wait-and-see signs of the main funds in the market began to become strong. At the same time, the time-sharing volume and energy also continued. Gradually weakening, many popular stocks with daily limit, there are also many main funds secretly withdrawing orders on the daily limit board, leaving numerous retail orders at the front.

At 1:35, in other main areas other than the two core main lines of the market, 'infrastructure' and 'state-owned enterprise reform', stocks that rebounded sharply showed a clear downward trend, including 'Netspeed Technology, LeTV, Huayi Brothers, Oriental Fortune', etc. A number of stocks fluctuated and fell.

At 1:42, the turnover of the two cities exceeded 100 billion. Although several popular main lines in the market still maintained strong and volatile trends, the net inflow of main funds on many stock markets has begun to reverse.

At 1:55, Shibei High-tech exploded, and Beixin Luqiao's daily limit board also saw another surge in volume.

Subsequently, when the market trading time entered 2 p.m., the Shanghai Stock Index could no longer hold on to the 2460 point, and could only fluctuate around the 2450 point to 2460 point. However, the overall market conditions of the two cities had obviously subsided. Under the circumstances, the differences have become more and more serious.

Finally, when 3 o'clock in the afternoon came, the two markets closed.

The Shanghai Index was set at 2456.37 points, up 0.97%, while the Shenzhen Index and ChiNext Index rose 0.69% and 0.58% respectively. The final closing gains of the three major indexes were mostly down from the intraday highs. On the daily K-line On the chart, long upper shadow lines have been left one after another.

In addition to the increase in the index itself, the overall turnover of the two cities reached 129.879 billion.

Although this volume is already close to the new annual turnover high set just the day before yesterday, compared with the trend and current situation of a large increase in volume in the morning, the final turnover performance is still somewhat lower than expected. This shows that compared with the previous trading days , the market was in a clear shrinkage trend in the afternoon trading performance.

Moreover, the attenuation of volume energy also shows the attitude of the main funds in the market.

This shows that in the afternoon market trading, for some unknown reason, the main funds on and off the market became obviously cautious in following the trend and taking the initiative to buy and sell.

Of course, in addition to subtle changes in quantity and energy, the specific market situation.

Although the market once again went out of the intraday trend of rising and falling, in terms of closing results, the index still hit a new closing high and a new yearly high for this round of rebound. The upward trend was not abnormal, and regardless of the index or the 'infrastructure ', 'state-owned enterprise reform', as well as other popular hype lines, the overall focus of support continues to move upward.

In other words, the market as a whole is still fluctuating upward.

And as long as the overall upward trend remains unchanged and the market still has a strong continuous money-making effect, then the Shanghai Stock Index can still continue to look forward to the 2,500-point mark.

There is also...as the market's most popular core stocks and a bellwether for speculation.

The two stocks of Beixin Road and Bridge and Beijiang Communications Construction still closed at the daily limit today. This shows that the market's hype sentiment continues to be at a high level. Active funds in the market, as well as the majority of retail investors, are willing to bear risks when chasing profits. The preference level has not decreased.

"After the index entered 2400 points, for several consecutive trading days, the selling pressure on the market was not small, and the index went far less smoothly than before." Seeing such a closing situation, at this moment, inside Jingda Investment, in the main fund trading room, General Manager Gu Chijiang frowned slightly and said, "Today's energy consumption is not very satisfactory. I always feel that it will become more and more difficult for the Shanghai Index to hit 2,500 points with such small steps."

As the saying goes, one can make great progress, then it will weaken, and three times it will be exhausted.

If the unanimous bullish sentiment that has finally been gathered is gradually worn away by the successive market shocks, it will inevitably lead to lower expectations in everyone's hearts, thus giving rise to more divergent views, and this... will naturally lead to a decline in the market. The long-short divergence is getting bigger and bigger, there are more and more selling, and it is becoming more and more difficult for the index to rise.

After hearing Gu Chijiang's words, fund manager Lin Tingzong responded: "The range of 2,400 to 2,500 points for the Shanghai Stock Index is originally an area where early lock-ups are extremely heavy. In the absence of major changes in macro funds, the volume of the Shanghai Stock Index cannot increase significantly in the short term. It is understandable that expansion is difficult.”

"Can the Shanghai Stock Exchange Index truly hit the 2,500-point mark in the future?"

"It still depends on the continuity of the money-making effects of the two core main lines of 'infrastructure' and 'state-owned enterprise reform', as well as the overall emotional response of the market."

"At present, today's market volume can respond. Although it is slightly lower than expected, on the whole, there is no problem in terms of money-making effect and emotional continuation. Beixin Road and Bridge and Beijiang Communications Construction continue to connect and are still on the upward trend. The market speculation space has been refreshed, and the continued profit-making effect of other popular stocks is still there. Generally speaking... the current market risks have not yet been highlighted, and we can still hold positions and wait. "

"But today, the trends of several core weight stocks in the fields of 'infrastructure' and 'state-owned enterprise reform' such as Huaguo Construction, Huaguo China Construction, and Huaguo MCC are not very good." Gu Chijiang took the words and responded, "These few stocks are not doing well." There are obvious signs of concentrated selling in the checks, and... these are the core holdings of Mr. Su from Yuhang Investment. I always have a bad feeling in my heart. "

Lin Tingzong thought for a while and said: "The trend of these checks today is indeed not very good, but in terms of the closing results, the upward trend of its stock price is still moving upwards, and its chip structure on the market is at its peak. , overall there is not much change, which shows that the internal chip structure of these checks is still quite stable.”

"As for today's concentrated selling, it may be the handiwork of Mr. Su from Yuhang Investment."

"I think it shouldn't be the case. After all, another of Mr. Su's heavy holdings, Beixin Road and Bridge, still maintains a very strong daily limit trend."

"Besides, you should be able to find out if you are on the dragon and tiger list later."

"After all, today's gains, amplitudes and turnover rates of Beixin Road and Bridge and Huaguo MCC are enough to qualify for the list. And based on today's trading volume of these two stocks, especially the huge Huaguo MCC There is definitely no way to avoid the disclosure conditions if you have 100,000 hands on the market.”

"Mr. Gu..."

Lin Tingzong paused and continued: "Our fund's holdings on the two core main lines of 'infrastructure' and 'state-owned enterprise reform' are quite low compared to the average cost of the market. Even if the market continues to Any trends that we cannot predict can be fully reflected based on our position cost and position volume, so I think we don’t need to be too anxious at this time and just wait for the subsequent market trend.”

It has experienced the ravages of the bear market in the early years.

It is not just the majority of retail investors who cannot hold on to the bargaining chip for profit. Once the market fluctuates less than expected, they lack confidence in the market outlook. The managers of various asset management institutions and fund companies also have the same mentality and will hesitate. Afraid of being trapped by rashly increasing positions, and afraid of being trapped by excessive expectations and long-term investment thinking after short-term profits, failing to stop profits in time, and ultimately returning profits to the market.

Therefore, Lin Tingzong is very clear and understanding of Gu Chijiang's concerns at this moment.

"Hopefully!" Seeing Lin Tingzong's confidence, Gu Chijiang finally breathed a sigh of relief and said nothing more.

As the two discussed after the market closed, the time moved to 5:30 pm, and the rankings of the two cities were refreshed.

I saw a total of 21 stocks on the list today.

And among the 21 stocks on the list, the two main concept stocks of ‘infrastructure’ and ‘state-owned enterprise reform’ still account for more than 40% of the shares. The overall pattern has not changed significantly from the market transactions in the previous few days.

Similarly, as in the past few days, the seats of 'Fortune Road' and 'Resurgence Road' that many people are worried about do not appear in the selling seats of any stock on the list. Judging from the main capital buying and selling of the stocks on the list According to analysis, the two main funds managed by Su Yu still maintain locked positions.

Of course, in addition to the continued lock-up of the ‘Wealth Road’ and ‘Resurgence Road’ that are in line with everyone’s expectations.

According to the information disclosed by the Dragon and Tiger List, there are also things that exceed everyone’s expectations and expectations.

That is calculated based on the buying and selling volume of the stocks on the entire Dragon and Tiger List. This time, the buying and selling volume of institutional seats showed a net selling situation. Especially for a stock of MCC, institutional seats were net selling. More than 37 million yuan was paid out, which is very eye-catching.

There are also core hot stocks in the two cities. On the Beixin Road and Bridge Dragon and Tiger List disclosure seats, several major hot money players who intervened in the early stage have sold huge amounts, and the disclosed trading situation of major funds has also shown net selling for the first time. phenomenon, with a total net sales of more than 18 million.

"'Wealth Road' and 'Fusheng Road' continue to lock positions, Jiefang South Road, Chunhui Road, and Siji Road have some sales, and institutions have net sales." After seeing the disclosure of the Dragon and Tiger List, Yuhang Anzhao Fund Company at this moment Internally, in the fund trading room, fund manager and company president Qin Qiuyue was pondering the motivations behind these disclosed main fund buying and selling actions, and said with some confusion, "Judging from the overall disclosure of the Dragon and Tiger List, it is obvious that there are many active investors in the market. The main funds are withdrawing. Why do you feel that at this time... Mr. Su, who is invested by Yuhang, is still not doing anything? "

In her opinion, Su Yu should be the most sensitive major fund in the A-share market.

Nowadays, the market news was vaguely negative. She felt that the other party should not be unaware and unmoved. However, she did not see any signs of the other party adjusting or reducing their positions from the dragon and tiger list.

"Mr. Su's determination to hold positions is truly extraordinary." Next to Qin Qiuyue, fund trading assistant Zhou Hui responded.

Qin Qiuyue glanced at Zhou Hui and asked, "Do you think the other party is still locked up?"

Zhou Hui replied: "Judging from the disclosed data on the Dragon and Tiger List, this is indeed the case. We can't say for sure for other tickets, but at least for the Beixin Road and Bridge check, Mr. Su, who was invested by Yuhang, definitely did not sell out. After all, The checks have been rising all the way, and the trading situation has been disclosed by the Dragon and Tiger List. Mr. Su’s holdings are so large that he cannot escape the regulatory rules. "

"Are the rumors in the market false?" Qin Qiuyue was filled with doubts when she heard Zhou Hui's words.

"Mr. Qin, what rumors are you talking about?" Zhou Hui asked, "Judging from the current market news, there doesn't seem to be any bad news!"

Qin Qiuyue pondered for a moment and responded: "Nothing, you continue to review, I will think about it."

Originally, she had decided on the trading strategy of reducing positions and taking profits tomorrow, but now she saw that the 'Fortune Road' and 'Resurgence Road' were still locking up positions, and she was obviously hesitant again. After all, she had completed half of this year's trading strategy. The annual fund performance target and the subsequent earnings are all excess profits. She can directly participate in the profit sharing. The temptation of this excess profit cake is not small, making it difficult for her to maintain absolute calmness and understand the market trends.

Similarly, Qin Qiuyue was hesitant and doubtful.

At this moment in the Magic City, inside Zexi Investment Company and in the fund trading room, Xu Xiang stared at the disclosed dragon and tiger list data with a slightly surprised look on his face. He was slightly shocked that Su Yu could still maintain the locked position. He was puzzled and whispered: "Does this guy really think that the bull market is coming due to the delay in news? With more than 10 billion position chips, unexpectedly at this time, he can still maintain the locked position and remain motionless."

"Boss, the news of 'IPO resumption' is just an internal rumor at the moment and is not clear." Standing next to Xu Xiang, Zhou Kan responded, "At present, it may be false news, and although there are many in today's trading The main funds are selling off, but overall it has not suppressed the bullish power of the market, and... Judging from the disclosure of the Dragon and Tiger List, the number of hot money seats on the list is also increasing, which should indicate the active funds in the market. , the participation rate is still increasing? Maybe...2500 points can be exceeded."

"Fake news?" Xu Xiang was slightly startled, "For what?"

Zhou Kan replied: "It's very simple. With the help of the news, we can continue to clear up the floating chips on the market and reduce the pressure on the Shanghai Stock Index to break through 2,500 points. Otherwise, the market reaction today will be too dull."