Chapter 726: ‘High and Low Switching’ Within the Plate!

At 9:16, after just one minute of rapid market changes, the initial collective bidding pattern of the two cities at this moment became more obvious.

I saw that the popular industry sectors related to the two core main lines of "big finance and big infrastructure" opened higher across the board.

'Big consumption, non-ferrous metal cycle, petrochemical industry, coal, pharmaceutical business...' and other major industry lines that attracted a lot of short-term capital groups yesterday. The related industry sectors and concept sectors have basically all shown slight declines. The opening trend, especially for the 'coal' sector, was affected by the continued decline of the black futures market last night, and it opened directly lower with a drop of more than 1%.

The performance of popular stocks, weighted core stocks, and industry leading stocks in two cities and one market.

'Huaxin Securities', a core stock with absolute weight in the main line of 'big finance' and even in the securities sector, initially opened higher at an increase of 0.79%. In terms of real-time market performance, active long orders were slightly larger than those of sell orders. of orders, the stock price showed an upward call auction trend.

'Hua Investment Capital', a popular leading stock in the securities sector, initially opened at a high of 1.08%, which is not very strong, but its performance on the market is very stable. The active bulls accepting buy orders are far greater than the concentrated sell orders. The stock price also showed a positive upward call auction trend.

The check of ‘Western Securities’ opened higher at a 1.23% increase.

Its initial call auction increase is slightly stronger than the performance of the securities sector index at this moment, but the long-short differences in the real-time market performance are not small. The number of orders to be matched is rapidly amplifying as time goes by, but its stock price is in the number of orders to be matched. Amid the amplification, there is no further upward trend.

This shows that the initial call auction performance of this check is obviously not as good as that of ‘Huaxin Securities’ and ‘Hua Investment Capital’.

In addition to these three popular securities sector weight stocks.

Pacific Securities, Southwest Securities, Huaxin Securities, Xiangcai Securities...the real-time performance of these low-price securities stocks is also significantly stronger than the performance of the securities sector index.

On the other hand, such as Huashang Securities, Huatai Securities, Huatong Securities, Founder Securities... These securities-weighted large-cap stocks with generally large market capitalizations have real-time market performance that is significantly weaker than the performance of the securities sector index. The high opening range is basically within Between 0.5% and 0.7%, it is slightly inferior to the emotional performance before the opening.

As for the banking and insurance sectors in the main line of "big finance".

In the form of initial collective bidding, relevant core popular stocks, such as Hua Commercial Bank, Huajian Bank, Huanong Bank, Huaguo Bank, Bank of Communications, China Pacific Insurance, Xinhua Insurance, Ping An Insurance, Ping An Bank, China Commercial Bank, The core stocks of Shanghai Pudong Development Bank, Industrial Bank, etc. are obviously stronger than the heavyweight securities stocks, and the active buying volume on the market is also increasing more rapidly.

As for the main line areas of 'Big Finance', the 'Internet Finance' sector has more active liquidity and flexibility.

The trend of related core stocks and popular stocks is still the strongest in the entire main line of "big finance" and even the entire two cities.

Among them, ‘Great Wisdom’ maintains the trend of opening higher than the daily limit.

‘Flush’ opened higher by 3.75%, and as time went by, the market’s gains continued to rise.

'Oriental Fortune, Hengsheng Electronics, Yinjie Technology, Changliang Technology, Jinzheng Shares, Tianyu Information, Shanghai Steel Union...' These relatively popular core stocks in the sector have opened higher at the moment and have an increase of more than 2%. , clearly outperforming the sector index, and active buying on the market is still increasing.

In addition, there are a number of popular stocks, heavyweight stocks and industry leading stocks in the core main areas of "big infrastructure", "military industry" and "technological growth".

'Huaguo Construction, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo China Construction...' and other infrastructure-heavy stocks with the prefix "Hua" initially opened higher, slightly weaker than many securities-heavy stocks. Most of them It is between 0.4% and 0.6%, but there is also a check of 'China Metallurgical Metallurgical Co., Ltd.' where the selling is more serious, and there is a short-term slightly lower opening pattern.

As for 'Beixin Road and Bridge, Shanghai Construction Engineering, Beijiang Communications Construction, Yingkou Port...' these past popular leading stocks in the core concept areas of 'Shanghai Free Trade Zone', 'New Era Road, Maritime Silk Road', now All stocks opened sharply higher, and none opened higher by less than 1%. Among them, "Shanghai Sanmao", a leading stock in the "Shanghai Free Trade Zone" concept, which saw a sharp decline yesterday, exceeded expectations. opened higher at 4.22%.

The main line field of ‘military industry’.

Large-capitalization 'military industry' core weight stocks, such as aviation power, Northern Navigation, China Airlines Shenyang, China Great Wall, etc., have relatively large opening ranges and strong trends, while 'China Airlines Heavy Machinery, Hongdu Airlines, Aerospace development, blue stone heavy equipment, flying integration...these popular concept stocks in the main line of 'military industry', the opening trend of the initial call auction was relatively weak. Only half of the stocks opened significantly higher, and the others were not flat. Open means opening slightly lower.

And there are a number of popular stocks and core weight stocks in the main line of "technological growth".

The trend pattern of the main line of ‘military industry’ is somewhat similar.

They are all stocks with relatively large market value weights, but their trends are stronger. Small-cap concept stocks that have been favored by short-term funds in the past are relatively weak.

Through such individual stock performance patterns...

It can be seen that the overall market pattern of the two cities is still focused on the main line areas of 'big finance, big infrastructure, military industry, and technological growth', and in the more core main line areas of 'big finance, big infrastructure', the path for funds to actively attack , a bit of a 'high-low switching' form, and in the main areas of 'military industry and technology growth', funds still prefer weighted core stocks with higher liquidity and certainty.

In addition to the performance in these main line areas.

Previously, in the market, the line of ‘sub-new stocks’ was once concentrated and continuously speculated by short-term funds.

The performance at this moment is obviously that the fever has subsided. The entire "sub-new stocks" sector index has only opened slightly higher by 0.23%, and within the sector, red stocks and low-opening stocks have basically reached a 50-50 open situation.

Of course, among them, the check of Huake Shuguang, the "sub-new big monster stock" that has attracted great market attention.

After hitting 17 consecutive daily limits, it still opened sharply higher today. At this moment, the market increase is at 8.99%, and there are as many as 14,900 trading orders planned to be matched on the market.

9:17, 9:18, 9:19...

The market pattern of the two cities, as well as the disk pattern, are still in this form and continue to deepen.

Gradually, several major industry sectors such as banking, insurance, and securities led the gains in the two cities. Commercial real estate development, construction decoration, building materials, public transportation, machinery and equipment...many "big infrastructure" core industry sectors ranked second in growth, and then The two major industry sectors of Internet software and Internet applications are following the overall pattern.

As for the concept section.

The Internet financial sector led the gains, and a number of core concepts and themes such as "New Era Road, Maritime Silk Road", "Shanghai Free Trade Zone", and "Reform and Reorganization of Central and State-owned Enterprises" followed.

And when the time moved to 9:20.

When the two cities enter the real collective bidding stage where orders cannot be cancelled.

I saw the market situation of the two cities after a large number of false orders and cancellations between 9:15 and 9:20...

Banking, insurance, and securities industry sectors still led the gains.

The two major industry sectors of machinery and equipment and public transportation stood out from the numerous "big infrastructure" related industry sectors and ranked among the top five growth lists in the two cities.

After that, architectural decoration, building materials, commercial real estate development, Internet applications, and Internet software each showed their performance.

As for the low-level main line areas, the weak-performing "black" cyclical industry sectors of coal, non-ferrous metals, and petrochemicals have completely become the leading falling sectors in the two cities at the moment. On the relevant core-weighted stocks, funds actively sold The signs of selling chips are very obvious.

Overall, after five minutes of changes on the board.

The active buying situation in the market, as well as the active funds taking the initiative to take over the market, are further converging on the two popular main lines of "big finance" and "big infrastructure".

"Looking at this market pattern, the investor groups holding positions in the low-level main line areas of 'big consumption, non-ferrous metal cycle, coal, petrochemical industry, pharmaceutical business...' that had a short-term profit-making effect yesterday are all selling their chips at this moment. These The related industry sectors and concept sectors have completely become the leading sectors in the two cities. "At 9:21, in the main fund trading room of Zexi Investment Company in Shanghai, Zhou Kan, who has been observing the market, said with a smile. , "The main line rotation logic of the market's 'high-low switching' should be completely gone by now, right?"

Xu Xiang squinted his eyes and laughed: "The time was not yet ripe, so it is normal for funds to continue to flee from these unexpected cycle mainlines."

"However, I feel that the two core main lines of the market, 'big finance' and 'big infrastructure', have not attracted much funds from the low-level main lines." Zhou Kan paused and then said, "Like 'Huaxin Securities' , Huashang Securities, Huatong Securities, Huashang Bank, Huatong Bank, Ping An Bank, Ping An Insurance, China Pacific Insurance...'the call auction trend of these large market capitalization weighted stocks is not worthy of the bullish sentiment before the market. "

"I have said before that on the 'Big Finance' line, the accumulated profits and settlements are quite heavy." Xu Xiang took over and said, "So it is not easy to continue to rise eagerly. It is possible, unless the market news continues to release major benefits, and the turnover of the two cities can quickly enter the era of 900 billion or even trillions.

At this stage...

I estimate that there are two core lines of ‘big finance’ and ‘big infrastructure’.

With the strong logic of future expectations and the support of the hot market bullish sentiment, it should be possible to gradually adopt a differentiated market trend. "

"Differentiated market conditions?" Zhou Kan was stunned and asked, "Boss, what do you mean?"

Xu Xiang said with a smile: "That is to say, the internal sector switching up and down. After the industry leaders and weight leading stocks that are the core of 'big finance' and 'big infrastructure' completed their initial surge, there were relatively large differences in the market. At that time, low-priced stocks in the same sector with less upward pressure should quickly make up for their gains, further repair the overall valuation, and continue to increase the investment value for money of leading stocks.”

"Well, that's possible!" Zhou Kan listened to Xu Xiang's words and carefully observed the market. He found that within the main line areas of 'big finance' and 'big infrastructure', the stocks that performed better in the call auction stage seemed to be a group of unpopular stocks in the sector that had not risen much before. "As expected, funds are like flowing water. Wherever there is the best investment cost-effectiveness, it will flow quickly there."

Xu Xiang responded: "Yes, this is called 'high-low switching'. The fund groups that guided the market yesterday were completely blindly pulling the market."

As the two people talked...

The time has reached 9:25, and the two markets have ended the call auction.

After the entire call auction process of 10 minutes, the two markets still showed a high opening pattern as a whole.

The Shanghai Composite Index opened higher at a 0.41% increase.

The Shenzhen Composite Index and the ChiNext Index opened higher by 0.29% and 0.17% respectively, only slightly higher.

The A50 index opened significantly higher at 0.63%, while the SME index only opened flat, still the weakest index among the core indexes of the two cities.

And it is particularly noteworthy that...

In the opening performance of a number of indexes, the performance of various index futures.

The A50 index futures, which was just listed on the second day, has now shown a premium, and its opening increase fell to 0.82%, which is significantly higher than the performance of the A50 index itself. In addition, the number of long orders in the net position held by investors on the market far exceeds the number of short orders.

This shows that among the investor groups participating in stock index futures speculation or hedging.

Everyone is obviously more aggressively optimistic about the performance of the weighted stocks in the two cities and the large-cap blue-chip stocks, and believes that the market pattern of the two cities will continue to perform around the main board blue-chip weight.

In addition to the index performance, the performance of the hot main line areas in the two cities.

At this moment, the securities, banking, and insurance sectors still maintain the form of leading the two cities.

The securities sector opened 1.21% higher, the banking sector opened 0.79% higher, and the insurance sector opened 0.77% higher. The gains of the three major weighted sectors were all much stronger than the Shanghai Composite Index.

Among them, the corresponding constituent stocks...

The check of Huatou Capital finally opened at 1.46% higher; Western Securities opened at 1.26% higher; Huaxin Securities opened 1.19% higher; Huashang Securities opened 1.11% higher; Huatong Securities opened 1.09% higher; ‘Southwest Securities, Pacific Securities, Huaxin Securities, Founder Securities, Industrial Securities...’ These low-priced securities stocks, as well as low-priced securities stocks whose gains previously lagged far behind the performance of the securities sector, opened at 1.5% higher, or opened at more than 1.5% higher.

Significantly stronger than the popular weighted securities stocks, as well as the two core leading stocks of the securities sector, ‘Huato Capital’ and ‘Western Securities’.

In the banking and insurance sectors.

This phenomenon and pattern is exactly the same as that of the securities sector, both showing a pattern of capital preference of "high-low switching" within the sector. (End of this chapter)