Chapter 613 Market Judgment of Main Line Switching!

After Liu Yuan finished his report, Zhu Tianyang also hurriedly responded: "Our 'Yuhang 2' fund position has also been reduced to about 60%. Among them, we have also completed the reduction of the main holdings of the 'big infrastructure' stocks that have shown obvious market pressure and upward pressure.

It's just that in the field of 'big infrastructure', the market continues to set new highs, and the funds that receive it are still pushing it up strongly, opening up new core stocks with upward space.

We still maintain a firm holding idea and have not made any reduction actions."

"Okay!" Su Yu responded, and his eyes turned to the core stocks that met the requirements. Zhao Lijun and Wang Can, who were in charge of the trading of the ‘Yuhang No. 1’ fund, asked, “What about your trading team?”

Zhao Lijun glanced at the backend data and responded, “The progress of our trading team in reducing positions is similar to that of the ‘Yuhang No. 2’ and ‘Yuhang No. 3’ fund products. The liquidity is low, and the stocks that can no longer continue to hit new highs have been reduced or cleared. The overall holding level of the fund is currently around 55%, of which the holdings of the main investment line of ‘Internet finance’ account for 18% of the positions.”

“All good!” Su Yu praised with a smile.

“What about the net value performance of each fund product?” Li Meng asked again after Su Yu asked about the holding results.

Liu Yuan responded: "In the past two weeks, although the entire 'big infrastructure' main line and the Shanghai Composite Index have continued to break through, our fund is actually in a continuous reduction of positions to stop profits. The net value performance has not exceeded the trend of the corresponding core sector index of 'big infrastructure' too much. The net value growth of our 'Yuhang No. 3' fund in the past two weeks is about 15%, which outperforms the Shanghai Composite Index by 6.73%." "The net value growth of our 'Yuhang No. 2' fund product is 15.23%, and the basic gap is not big." Zhu Tianyang responded. Zhao Lijun glanced at the backstage of the main control computer and said: "In general, our 'Yuhang No. 1' fund product has a slightly smaller fund size and a relatively more concentrated position, so in terms of net value performance, it is slightly better than the 'Yuhang No. 2' and 'Yuhang No. 3' funds. The net value of profit has increased by 17.49% in the past two weeks, barely outperforming the Shanghai Composite Index by nearly 10 points." Su Yu was quite happy to hear this result. Thanks to this period, the Shanghai Composite Index has risen after breaking through 2,500 points.

Comparing the three main fund products, when the net value and holdings were announced to the market not long ago.

Now the net value of the three main fund products has generally increased by about 30% compared to the time of announcement. The overall asset scale of the three main fund products has reached about 65 billion.

At this time, the asset scale of the "Yuhang No. 4" fund product is calculated.

Even if the asset management scale of several main funds of the acquired "Anzhao Fund" is not calculated, the four main fund products of their company alone can almost reach the 100 billion mark.

"Very good!" Su Yu said with a smile, "Everyone, keep working hard!"

"Master, since we have gradually reduced the weight of the main line of 'big infrastructure', then at this time... can we add new positions to the main line of 'big finance' that we plan to build positions in the future?" Liu Yuan thought for a while and asked, "Should we reserve cash first, and wait until the current main rising trend of the main line of 'big infrastructure' is exhausted and the main line of the market changes, and then increase the position in the direction of 'big finance' on a large scale?"

Su Yu looked at Zhu Tianyang and Zhao Lijun, and saw that both of them had such doubts in their eyes at this moment.

After thinking about it, he couldn't help but say: "You can use the positions and funds freed up by reducing positions to gradually increase positions in the direction of 'big finance', but when buying, control the rhythm, don't buy when it rises sharply, buy small when it rises slightly, buy large when it doesn't rise, and buy large when it falls slightly. If there is an obvious and huge correction trend in the direction of 'big finance', you can intervene in large-scale sweeping.

In short, in the process of adjusting positions to the main line of 'big finance'.

Don't be anxious or afraid.

We will use whatever trading strategy we have.

Of course, in this process, we still have to keep the positions of the main fund products within the 80% holding water level."

Su Yu pondered for a moment and continued: "At present, the main line of the market with 'big infrastructure' as the core, investment sentiment and hype sentiment are in an extremely hot range. , has been running deeply for a period of time. At the same time, other main investment areas in the market, at present, can't attract much funds.

There are also incremental funds that continue to follow up in the off-market.

In the past two days, in many marginal stocks of main concepts, the selling pressure on the market has increased greatly, and they have never been able to further refresh the rebound high and the annual high.

The willingness of these funds that have followed up to chase high seems to be weakening.

It's just that under the emotional climax, these subtle risks and market changes were subconsciously ignored by many investors for a while.

However, the market trend is always objective.

No matter how beautiful the story is, it is impossible to have twists and turns, and it is impossible for a thick tree to grow directly to the sky overnight.

As the market continues to evolve.

With the main line of "big infrastructure", this sign of capital is becoming more and more obvious.

Then, if you were able to resist the urge to sell before and lock up a large amount of short- and medium-term profit-taking funds to hold chips, you may have to pour out on a large scale to reduce your positions and take profits.

And when the market's willingness to continue chasing higher funds has been greatly reduced, and other market main lines cannot attract much fresh blood, it is obvious that once there is a concentrated sell-off in the "big infrastructure" field at this time, the following will be undertaken Funds cannot sustain this wave of selling.

But once the funds cannot bear this kind of profit-making selling.

Then the market trend of the entire market, as well as the main line market switching, will most likely change.

At the same time, through observing the traces of the current market trend, I estimate that...the time for such a change in market conditions is almost here.

So, no need to rush.

The Shanghai Stock Exchange Index will not attack the 3,000-point mark in one go.

In the next evolution of market conditions, the market will definitely have opportunities for huge shocks and corrections, and that's when we increase our positions in a large scale, change the main line of investment, focus heavily on the 'big financial' field, and use the advantage of the size of the funds in our hands to When the main line of the market switches between high and low, the main investment line of 'big finance' is pulled out. "

"Well, I feel the same way." Li Meng responded, "The line of 'big infrastructure' has basically been rising rapidly in the past two weeks to create the top of a short-term rising platform. This main line provides room for upward growth in the short and medium term. , after the market sentiment has been deduced to this situation, there should not be much left.

At this time, once the Shanghai Stock Index suddenly rises, it will encounter extremely strong resistance.

A lot of profit-making funds that should be concentrated on the main line of "big infrastructure" will sell their chips and carry out profit-taking operations. "

"So we have to reserve at least 20% of the liquidity of the position to cope with the main line market switching operation when the main line of 'big infrastructure' reaches its peak in the short to medium term and the market undergoes a correction and shock, right?" Liu Yuan turned her eyes and said, He completely understood the meaning of Su Yu's words, "Master, this 20% reserved liquidity is for us to use to pull the market after we finish the main line of building a 'Big Finance' position, right?"

Su Yu smiled slightly and said: "Absolutely, I was thinking...'Big Infrastructure', the main line of market investment, will peak in the short and medium term. If the market wants to switch the main line up and down, if we don't carry out deliberate guidance, many major players will Funds should still be used to focus on the 'technological growth' line.

If the market is really on the line of 'technological growth', a synergy will be formed.

That would be quite detrimental to our macro investment strategy.

Therefore, we must reserve part of the liquidity to stimulate the corresponding main line market at key market nodes, create a sustained profit-making effect, and quickly gather the main line investment sentiment that is beneficial to us. "

"Understood!" Liu Yuan, Zhu Tianyang, Zhao Lijun, and Wang Can nodded.

Subsequently, each trading group and the person in charge of each fund trading began to continue to reduce positions, stop profits, and adjust positions of the main funds in accordance with Su Yu's strategic guidelines.

And at the same time...

As a wholly-owned acquisition of 'Yuhang Investment' company, 'Anzhao Fund' is internal.

In the main fund trading room, Qin Qiuyue stared at the 'big infrastructure' corresponding concept main line sector index and related industry sector indexes that continued to hit new highs, but her brows wrinkled slightly, her eyes full of surprise and surprise, and at the same time, A hint of regret.

"This market...isn't it too crazy?" Qin Qiuyue sighed and said, "It's just from one extreme to the other!"

They were originally heavily invested in the main line of market investment, ‘big infrastructure’.

But since being acquired by ‘Yuhang Investment’, during the exchange with Su Yu, and after the asset management scale of several main funds of the ‘Anzhao Series’ has exploded.

In terms of trading strategies, they no longer continue to increase their positions in the direction of "big infrastructure".

At the same time, during this time.

Their main energy and focus are also on the main market line of 'big finance'.

However, despite the recent market trends, the trend of the main line of the market "Big Finance" is still far behind the performance of the market, while the main line of "Big Infrastructure" continues to reach new highs.

In a word, they are the main fund products they manage.

The recent net profit performance has not outperformed the market at all, which makes Qin Qiuyue feel quite depressed.

"This is the famous emotional interpretation process of A-shares!" Zhou Hui smiled softly, but her mood was much better than Qin Qiuyue's. "However, generally when such an emotional climax is reached, the short- and medium-term market trends should be about the same."

Qin Qiuyue rolled her eyes at Zhou Hui and said, "I remember you said the same thing last week."

"Such a large main line market must have a time process to peak in the short to medium term." Zhou Hui responded, "I still stick to my point of view. The main line of 'big infrastructure' at this time is only for shareholders The feast is definitely not an investment opportunity for later pursuers.”

Qin Qiuyue said: "I don't doubt this. After all, the main line of the market, 'big infrastructure', has risen rapidly to this stage during this period. It is impossible for internal profits not to be sold. It's just that everyone is waiting for market sentiment." There is no progress, it is expected to be further filled, and the high level of funds is obviously exhausted.

only……

I'm worried, why has there been no movement in the 'big finance' line?

During this period, the main funds in the market seemed to have tried to pull up the market of the main line of "big finance" several times, but the result of each pull was a mess, and there were very few retail investors and main funds following the trend. "

"The market's expectations in the direction of "big finance" are obviously not enough, right?" Zhou Hui said, "and the core main line of "big infrastructure" has a strong siphon effect on the active capital groups in the market. Not only is the "big finance" line ugly and unable to gather a continuous money-making effect, the entire market, other traditional investment main lines, are actually quite ugly. On the surface, they are basically dragged by the Shanghai Composite Index and have no initiative. "

Qin Qiuyue nodded slightly and said: "That's right, hey... We are still too early in the investment strategy of withdrawing from the "big infrastructure" line. "

"Who would have thought that the sentiment of the "big infrastructure" line would ferment like this? "Zhou Hui said, "However, in the financial trading market, no one can accurately buy at the bottom and sell at the top again and again. We have made money and ate the most lucrative profits on the two main lines of "big infrastructure" and "military industry", which is almost enough. Now...it mainly depends on how the "big finance" line will perform in the subsequent market performance. "

"How do you think it will perform?" Qin Qiuyue asked, "Will there be such a crazy trend of the two main lines of "infrastructure" and "military industry" in the past six months?"

Zhou Hui thought about it and responded: "I don't know whether there will be a crazy trend of the two main lines of "infrastructure" and "military industry". It depends on whether the majority of investors in and outside the market have firm expectations for the "big bull market". If the market expectations of the "big bull market" can penetrate the hearts of the majority of investors, and there can be major institutional groups and regulators to firmly endorse it, then as the pioneer sector of the bull market, I think the elasticity of the "big finance" line is still likely to surpass the performance of the two main lines of "infrastructure" and "military industry" in the past six months.

However... if we want to replicate the great bull market of 2006 and 2007.

With the current circulation volume of the "big finance" sector in the two cities, I think it is basically impossible.

Even if the Shanghai Stock Exchange Index's turnover exceeds one trillion yuan per day, it is probably difficult to create the grand occasion of 2006 and 2007, but no matter what...

As long as the "bull market expectation" is determined and the vast majority of investors have such expectations.

At the same time, the Shanghai Stock Exchange Index can forcefully break through the 3,000-point constraint.

Then, in the direction of "big finance", I believe that there will definitely be a big market. Didn't President Su make it very clear on this point? I think... we still have to believe in President Su's judgment. "