Chapter 459 The Organization that Secretly Turns!

However, even if the selling volume of the entire market increases sharply again, the funds actively taken over by the market have declined.

Several major industry sectors, such as "real estate", "construction decoration", "building materials", "military industry", and "public transportation", as well as concept sectors such as "state-owned enterprise reform", "Internet finance", "real estate development", "cement", and "high-speed rail", still maintain the trend of leading the two markets, completely replacing the previous defensive main line leading pattern such as "consumption", "medicine", and "finance", so that the core focus of the market and the main line hot spots have returned to the original track dominated by "infrastructure" and "state-owned enterprise reform".

Of course, the weak will always be weak.

Concept fields such as "venture capital", "reorganization and shell", and "ST sector", which are generally abandoned by funds on the market, continue to stage a limit-down trend, and many concept stocks have experienced flash crashes due to lack of liquidity on the market.

As for the two main lines of "mobile Internet" and "smartphone industry chain", which were able to compete with "military industry", "infrastructure" and "state-owned enterprise reform" for active funds in the morning market and to some extent emerged from the short-term rebound effect in the market, they were also weak at this moment. Many concept stocks showed a continuous net outflow of main funds.

At 2:35, the Shanghai Composite Index was still fluctuating around 2185 points, while the declines of the Shenzhen Composite Index, the ChiNext Index and the Small and Medium-sized Index were further expanded, especially the Small and Medium-sized Index, which had approached the intraday low set before and once again broke through the 3% decline mark.

At 2:38, the ChiNext Index also fell and broke through the 3% decline mark again.

At 2:40, small and medium-sized stocks in the two cities began to lose liquidity in general, and panic selling in the two cities was formed again.

At 2:42, active funds in the market began to generally converge on the main board with relatively abundant liquidity of large-cap stocks. The defensive sectors of "consumption", "medicine" and "finance" were once again actively attacked by many risk-averse funds. At the same time, the industry sectors and concept sectors in the main areas of "infrastructure", "state-owned enterprise reform", "Internet finance" and "military industry", which once led the market rebound, also rapidly expanded in volume and gradually fell under the panic selling situation.

At 2:45, the Shanghai Composite Index fell and lost the 2185 point again.

At 2:46, in the four main areas of "infrastructure", "state-owned enterprise reform", "Internet finance" and "military industry", more than 20 core concept stocks such as Gemdale Group, China Metallurgical, China Fortune Land Development, Huaxin Cement, Conch Cement, China Airlines Electromechanical, China Airlines Broadcasting, AVIC Technology, Hengsheng Electronics, Flush, Oriental Fortune..., etc., once again saw a huge amount of super large single trays on the market, strongly resisting the panic selling on the market.

At 2:48, the Shanghai Composite Index returned to the 2185-point mark, but the decline of the SME Index further expanded to 3.29%.

At 2:51, when the market entered the last ten minutes of the closing trading period, speculative bargain-hunting funds began to enter the market, giving the two plummeting markets a chance to breathe again.

At 2:52, the market once again ushered in a short rebound.

At 2:54, the Shanghai Composite Index re-reached the 2190-point mark.

At 2:55, the decline of the SME Index shrank back to the 3% mark, and the decline of the ChiNext Index shrank to 2.87%. At the same time, in the field of small-cap concept stocks with small circulation and small liquidity in the two markets, a group of trapped main funds in the market began to take advantage of the short-term market rebound to start self-rescue.

At 2:56, a small-cap concept stock named "Cologne Shares" in the field of restructuring and backdoor listing soared from the limit down. In less than half a minute, it was pulled up by nearly 10,000 large orders and turned red. It topped the list of real-time gains in the two markets, attracting the attention of the majority of retail investors and also tempting retail investors to follow the market.

Finally, at 3 o'clock, the market closed.

When the market conditions in the two markets were fixed, the Shanghai Index stagnated at 2188.39 points, down 1.31%, the Shenzhen Index fell 1.98%, and the ChiNext Index fell 2.73%. The two markets had a total transaction volume of 138.933 billion, which was a significant increase compared with the market performance before the holiday.

In addition to the index, the performance of the main lines of the market, various industry sectors, and concept sectors.

In the end, the leading stocks were still the major related industry sectors and concept sectors, mainly "infrastructure" and "state-owned enterprise reform", followed by the main concepts such as "military industry", "Internet finance", and "Shanghai Free Trade Zone", followed by the defensive main concepts such as "consumption", "medicine", and "finance", which also performed significantly better than the market. However, the main concepts such as "venture capital", "reorganization and backdoor listing", "ST sector", "mobile Internet", and "smartphone industry chain", which are mainly small and medium-sized concept stocks, performed relatively weakly and underperformed the market.

As for individual stocks...

Mid- and large-cap stocks with good liquidity performed significantly better than small-cap concept stocks.

Among them, stocks such as Gemdale Group, China Metallurgical, Conch Cement, and Huaxin Cement in the field of "infrastructure" formed a sharp contrast with stocks such as Changqu Technology, Huaqingbao, Anjie Technology, Lixun Precision, and Huayi Brothers in the field of "growth stocks" of the small and medium-sized board and the GEM.

The first batch of stocks, at the closing time, basically all showed a trend of large capital net inflow.

However, the second batch of stocks, at the closing time, basically all showed a trend of large capital net outflow.

Faced with such a closing situation...

At this moment, within Yuhang Investment Company, in the main fund trading room, Li Meng finally breathed a sigh of relief and said: "Our hand, although it failed to restore the market's decline, has finally supported the index. Not far from 2200 points, there is a glimmer of hope for the market to regain 2200 points, that is, the trend of the small and medium-sized boards and the GEM are a bit miserable today! "

Su Yu nodded slightly and responded: "We have supported the two core main lines of 'infrastructure' and 'state-owned enterprise reform', indicating the possible main line of speculation in the market. In a weak situation, it is natural... small and medium-sized boards, entrepreneurship The line of 'growth stocks' in the board sector was instantly abandoned by the market."

"so……"

Su Yu paused and said: "In the final stage of the market, the small and medium-sized boards and GEM were killed like this. This is also a normal market reaction. After all, in the current market, the amount of active funds is very limited and cannot support multiple main lines. If the market breaks through, you must make a choice.”

"Oh, by the way..." Su Yu thought for a moment and then said, "From the time we issued the pallet purchase order to the closing, how many new chips were purchased?"

Li Meng looked at the fund's background data and replied: "After more than an hour of full-scale buying, we bought a total of 3.329 billion new chips in the corresponding target stocks, among which the 'Yuhang No. 1' fund product The position level of the "Yuhang No. 2" fund product has reached the 70% position mark, and is not far from the 85% full position line. "

"How much has the net worth retracted?" Su Yu continued to ask.

Li Meng replied: "Today is slightly stronger than the performance of the Shanghai Stock Index, but our overall position is already close to the heavy position level. If the subsequent market trend is still not as good as our expectations, and we are unable to control the market and guide the sustainable main line of the market, we will open In this situation, I am afraid that the magnitude of the net worth retracement will expand instantly.”

"at the same time……"

Li Meng hesitated for a moment, thought for a while, and continued: "Since the scale of funds managed by our company is already very large, and the three main funds under it have a relatively large overlap in stock holdings and investment directions, In addition, the heavier the position, the more passive we become in operations, and the risks we face in the follow-up are still very high!”

Don’t worry about winning, think about defeat first.

Compared with Su Yu's personal operating style, she still seems more cautious in market trading operations.

Therefore, when she sensed the extreme risks that the fund might have after adding the positions, she said it directly without the slightest concern.

Under the current market liquidity, once the position volume reaches tens of billions.

Especially in basically the same main line direction.

Li Meng believes that if you choose the wrong direction in the overall investment strategy, it will be extremely difficult to adjust or reduce positions.

In other words, by increasing their positions to this point, they have lost the initiative in their trading strategy.

This was the reason why she felt uneasy and anxious.

"Don't worry too much." Su Yu said with a smile, "Our steps to increase positions are not very big. So far, we still have a maximum of more than 9 billion funds that can be used, which is enough to maintain our trading strategy. initiative, and at the same time... Looking at the market performance today after we support the two core themes of 'infrastructure' and 'state-owned enterprise reform', the majority of investors in the market still have a high degree of recognition for these two core themes. of."

"In other words, the hype logic of these two core main lines is still there."

"It's just that the overall investment sentiment and confidence in the current market are too weak, coupled with the poor external market trends, and the internal listing of new stocks, even if everyone realizes that the two lines of 'infrastructure' and 'state-owned enterprise reform' still have the logic of speculation, The adjustments are basically in place, but they still seem hesitant to follow up boldly.”

"In the follow-up, as long as we re-stimulate the market nerves of these two main lines at the critical moment, we can quickly gather the profit-making effect in this direction."

"The following sentiment and shareholding confidence among the broad investor groups in the market will improve in this direction."

"Hopefully!" Li Meng nodded and continued, "Today we have quite obvious traces of pallets on the lines of 'infrastructure', 'state-owned enterprise reform', 'Internet finance', and 'military industry'. After the market closes, there should be a lot of speculation about this. Will this affect our subsequent trading strategy plan?”

Su Yu smiled and said, "It doesn't matter, let them guess. It's best if the more people guess, the deeper the relevant information will be fermented, the better."

When the market has reached this point, there are very few funds that still insist on being bullish and dare to increase their positions against the trend.

Therefore, without publicly exposing their trading seats, these few funds that can identify their motives and firmly follow the trend will not have a big impact on their overall increase plan. At the same time... market investment sentiment and Confidence is too low. In order to prevent the market from completely sliding into the abyss of the early bottom of 2,000 points, Su Yu also hopes that some smart market funds can see through their motives and firmly follow the trend to stabilize the market.

In other words, the public pallet is open today, and a huge amount of money is used to openly scan the market for goods.

He also did it on purpose.

And just as Li Meng guessed, countless investor groups in the domestic financial market at this moment, after a brief review, have shown great interest in the huge main force funds that took over the core concept stocks in the fields of "infrastructure" and "state-owned enterprise reform" on a large scale at the key time point in the afternoon, and quickly pulled up the market, and swept the market again in the last ten minutes of the closing. At the same time, it also led to countless discussions and speculations.

"The funds that took over the main line of "infrastructure" and "state-owned enterprise reform" in the afternoon and withstood the market panic selling pressure should be the only bright spot in the market today, right?"

Someone in the Yuhang main hot money group where Su Yu was located sighed.

"Indeed, it is a very strong support method, a bit like the main funds of the "state-owned assets" background. However, the only drawback is that although this fund temporarily supports the market, it does not actually open up the market situation, nor solve the fundamental trend crisis of the market."

"It is useless to only support without pulling!"

"The index has broken through the 2200-point support. To be honest, this kind of support does mean a waste of funds and cannot achieve the purpose of reversing the market's long and short situation."

"If this fund can settle down after buying, it would be a good thing."

"If it is the main funds of the "state-owned assets" background, it should be able to settle down, right?"

"Looking at the closing results, are the two lines of "infrastructure" and "state-owned enterprise reform" almost in place? The performance of these two lines today, although it is suspected that it is the "state-owned assets" background, it is not a good thing to settle down. The role of the capital’s background capital tray, but looking at the market trend in the last hour of the closing, this line is still one of the few areas of net inflow of buying funds in the entire market. "

"It should be adjusted in place, right?"

"But even if it is adjusted in place, it may not necessarily rise. The key depends on how the overall investment sentiment and investment confidence of the market will change next."

"How else can it change? If the Shanghai Composite Index loses the support level of 2200 points, it will definitely drop to 2000 points."

"Once this position of 2200 points is lost, I am afraid that it will change from the previous important support level to an important pressure level in seconds, right?"

"Alas, I have to say that the market sentiment is really bad."

"There are basically no stocks that can be traded today. The market loss effect is almost at its peak."

"The loss effect has not reached its peak yet? In my opinion, the current This node is the freezing point of emotions. "

"Today, the Shanghai Stock Index did not fall much, but the SME Board and the ChiNext Board were really miserable. Many concept fields dominated by small-cap stocks have seen a limit-down wave!"

"It is estimated that according to the data of today's Dragon and Tiger List, various funds are net selling again."

"There is no other way to go except to cut positions and stop losses. Today, the "infrastructure", "state-owned enterprise reform", "military industry", and "Internet finance" lines have shown a hint of strong performance and money-making effect in the last hour of the closing. But believe it or not, these major lines will fall back quickly when the market opens tomorrow."

"Why not? Overall... there is still no clear and continuous money-making effect in the current market."

"Short position, continue to short position."

"Yes, short position and rest is the only safe choice. ”

“By being short during this period, I have won 99% of the investors in the market without doing anything. However, is there no one who is still optimistic about the future market? I don’t think we need to be too pessimistic here. Moreover, today, whether it is in the morning or afternoon, after the extreme panic selling, the index has a clear and powerful upward rebound trend. This should explain some problems. At the same time, from the closing results of the index, compared with the opening point, it has not fallen much. ”

“Didn’t the two upward rebounds during the trading session be suppressed by the selling? It doesn’t explain anything!”

“If the Shanghai Composite Index stood back at 2200 points at the end of the trading session, it could still be looked at with a high eye. Now, the golden needle has not bottomed out, so today’s intraday low will definitely be refreshed again in the future. In other words, if the low point is not found, it will have to continue to find it downwards!”

“The key is that at this time, both the outside and the inside are all bad news. How can the market rise? ”

As the messages in the group were updated, the opinions of the big speculators on the future of the market were still dominated by the bears, and there were very few bulls.

Among the large number of retail investors in the market, the bearish group was even more overwhelming.

However, among the institutional groups, especially the main institutions with the background of "state-owned assets", some well-informed and sensitive institutions, after discovering the source of the main funds in today's trays such as "infrastructure", "state-owned enterprise reform", "military industry", and "Internet finance", began to quietly adjust their trading strategies, both in public statements and in actual operations, and began to turn from short to long.