Chapter 764: Portfolio Adjustment Strategy!

At the same time, the transaction volume of the two cities also reached the 430 billion mark within half a day, significantly increasing compared with yesterday.

In addition, there is constant speculation in concept stocks in the two cities, and short-term speculation continues to heat up. In addition to the stocks with daily limit on the straight-line board, the number of stocks that have changed hands with natural daily limit has reached 53.

“Sure enough, the market has returned to its original rhythm!”

After the two cities closed, several major indexes closed up across the board, and the core main lines of 'big finance', 'big infrastructure', and 'military industry' once again led the market. At this moment, Shenzhen Stock Exchange, Pingyin Asset Management Center, In the main fund trading room, fund manager Chen Shen stared at the fixed prices of the two markets with a smile on his face: "This logical line of the market's 'high and low switching', after all, is still difficult to form a more consistent expectation. It seems that we still have to Only by relying on the core line of 'big finance' can the Shanghai Stock Index continue to break upward!"

“The main lines of ‘big finance’, ‘big infrastructure’ and ‘military industry’ are supported by strong future expectations and strong potential buying. As long as the short-term profits within their main areas are reconciled, As the selling pressure decreases, the market is bound to continue to move upward." After hearing Chen Shen's emotion, Wang Jinglun, the fund trading team leader standing behind Chen Shen, continued, "And the market's reaction today is also true. It just shows that our previous judgment on market trends and changes in trading strategies are correct.”

Chen Shen nodded slightly, the smile on his face getting thicker, and replied: "Indeed, fortunately during this short adjustment time window, we continued to add some 'big finance', 'big infrastructure', and 'military industry' The position weights of other core main lines have reduced the position weights of 'big consumption', 'mobile Internet', and 'smartphone industry chain', otherwise... it will be difficult to adjust positions in the future. "

"After this short adjustment, the 'Big Finance' line should continue to rise until next month, right?" Gao Yixiang, another trading team leader, also said at this time, "After all, regarding the central bank's plans for next month There are more and more rumors about monthly interest rate cuts and RRR cuts.”

"No one can accurately predict how long it will rise and how high it will rise." Chen Shen took over and said, "But now that the market has returned to the previous market trajectory, it has formed a 'big financial', ' With the market pattern of "big infrastructure" and "military industry" leading the overall rise, what we should do at this time is to follow the market trend and follow the trend.

Wait until the trend declines again.

At the same time, major core areas, a number of related industry sectors, concept sectors, and many popular weighted stocks, as well as many component stocks held by our fund, have shown signs of continued negative streaks and clear selling points, and will continue to change. It’s never too late to develop a trading strategy. "

"Yeah!" Wang Jinglun nodded after hearing Chen Shen's words, paused, and then said, "However, Mr. Chen, I think we can actually continue to make appropriate adjustments to our strategy when the market trend develops clearly. The proportion structure of holdings of individual stocks further removes the weak ones and retains the strong ones.

That is, on the premise that the core main lines of overall investment and the core weight sector areas will not change much.

Slightly adjust the weight ratio of individual stock positions to further capture market excess profits.

After all, it is almost the end of the year, and the competition for fund performance rankings in the industry is very fierce. Although the main fund products managed by our department have recovered from the decline in the first half of the year, based on current performance, they are more than 10 billion in the entire industry. Among large-scale fund products, it is still not very outstanding, and it is still far from the performance ranking target we set at the beginning of the year. "

"Within the main line, how to eliminate the weak and retain the strong?" Chen Shen pondered Wang Jinglun's words, his eyes flickered, and continued to ask, "What do you think is the appropriate adjustment?"

Wang Jinglun responded: "Naturally, positions have been further concentrated. At present, among the three main areas of 'big finance', 'big infrastructure' and 'military industry', which are the strongest in the market, the main financial groups in the market follow suit and undertake the most. What's more, the core sectors with the strongest market trends are mainly 'securities', 'Internet finance', 'machinery equipment', 'high-speed rail', 'domestic large aircraft' and 'nuclear power'.

Most of our current fund product positions and individual equity weights are concentrated in the relatively conservative fields of banking, insurance, construction decoration, and building materials.

Although the trends of these major sectors are closely following the changes of several core main lines.

It can also generally outperform the market index during this stage.

However, in terms of trend elasticity, it is still far inferior to the sectors I just mentioned.

Therefore, if we want to obtain more market excess profits, we must control the direction of our positions and further concentrate them in these strong sector areas.

Of course, it’s not enough to just focus on strong sectors. You must also focus on strong stocks in these strong sectors.

Judging from the current market trend reaction...

The core leading stocks in these sectors, that is, the stocks with the most rapid investment by long capital groups and the most intense stock price performance, are mainly Western Securities, Huaxin Securities, Huagong International, China South Locomotive, China North Locomotive, Flush, and Oriental Fortune , Great Wisdom, Hengsheng Electronics, China Airlines Heavy Machinery, China Airlines Shenyang, Aviation Power...'these stocks.

I think our fund should invest in individual stocks in relatively weak sectors.

That is, the individual stock chips in the banking, insurance, construction decoration, building materials and other sectors are quickly replaced with the core leading stock chips I just mentioned, further seizing the opportunity for the market to continue to break upward and explode. "

Chen Shen thought for a while, but did not answer directly. Instead, he turned to look at Gao Yixiang on the other side and asked, "Yixiang, what do you think?"

Gao Yixiang pondered for a while and responded: "I think what Jinglun said is reasonable. Since the investment logic route of 'high-low switching' in the market is not working, many capital groups have begun to return to 'big finance' on a large scale." At the same time, the core main lines of "large infrastructure construction" and "military industry" have been expanded.

We adjust positions according to the main logic of "the strong get stronger", and there is no problem.

It's just that among the stocks that Jinglun just mentioned, the scope is still too broad. I think that since we have chosen to adjust positions according to the logical line of 'the strong get stronger', we might as well do it more thoroughly and more concentratedly. Only in this way can we maximize the market's maximum excess profits when the market continues to break upward. "

"Want to be more concentrated?" Chen Shen heard his words with a slightly surprised look on his face, "Will this increase the position risk of our fund? After all, the more concentrated the position, the greater the risk of future investment risks. , the higher it is, because if you hold a heavy position in a certain stock, if there is a problem with the subsequent expectations of this stock and the stock price plummets, it will be very damaging to the net value of the fund. "

When Gao Yixiang saw that Chen Shen was concerned about the issue of 'concentrated position risk', he couldn't help but paused and continued very firmly: "I don't think there is any concentrated position risk. After all, the market's potential buying orders are still increasing sharply. The liquidity of funds also continues to surge.

Under this extremely abundant market liquidity.

The valuations of all securities will be raised, and at the same time, the strength of their buying support will become stronger and stronger.

Even if we adjust positions, we will not adjust positions into those "three no stocks", so... the overall risk of concentrated positions is relatively controllable. "

Chen Shen saw that Wang Jinglun and Gao Yixiang both proposed the idea of ​​further changing their trading strategies and concentrating their positions.

I couldn't help but ponder it carefully in my heart for a while, and then nodded and said: "Since you two think so, let's do this next!"

"How to divide the specific industry sector position weights?"

After hearing that Chen Shen finally agreed to further adjust positions after thinking about it, Wang Jinglun couldn't help but ask another question.

Chen Shen thought for a while and said: "The first weight is definitely the securities and Internet finance sectors. The total position weight of these two sectors reaches 40%, which should be reasonable. Then the entire 'big infrastructure' In the main direction, under the macroeconomic strategic development policy of "New Era Road, Maritime Silk Road", the position weights of the "high-speed rail", "commercial real estate development" and "non-public transportation" sectors that have attracted much attention are also To reach 40%, then leave the remaining positions to the 'National Defense and Military Industry' sector.

As for the specific stock selection for position adjustment...

At present, in the securities sector, the main targets for increasing positions are the leading stocks of the five largest securities companies, namely, Western Securities, Huai Capital, Pacific Securities, Huaxin Securities, and Huatong Securities; while in the Internet finance sector, the targets are 'Great Wisdom, Flush and Oriental Fortune, the three Musketeers, are the main targets for increasing positions.

As for the main line of "big infrastructure", the checks of "Huagong International, China South Locomotive, China North Railway, China Railway Construction, and China Communications Construction" are still good, and the liquidity on the market is also very sufficient. It should be our primary target stock for position adjustment in this main direction.

As for the main line of ‘military industry’, there aren’t many choices.

The main targets are the core leading stocks in the two conceptual fields of "domestic large aircraft" and "nuclear power", such as "China Airlines Heavy Machinery, China Airlines Shenyang Aircraft, China Airlines West Aircraft, Aviation Power, and Northern Navigation". host. "

Chen Shen finished speaking his opinion, then looked at Wang Jinglun and Gao Yixiang, and then continued with a smile: "What do you think?"

Gao Yixiang and Wang Jinglun thought about it for a moment, and both nodded, indicating that they were in agreement.

In fact, when the two proposed changes in trading strategies, they had in mind the target stocks for position adjustment, as well as the main line direction and weighted sector direction of the position adjustment.

Basically, it is no different from Chen Shen's idea.

"Since neither of you has any other better ideas..." Chen Shen paused, then smiled, "Then after the market reopens in the afternoon, let's implement the trading strategy we discussed!"

After saying that, he looked at the time, turned around and walked out of the trading room, and hurried towards the company canteen.

When the three of them conducted corresponding strategic discussions on the market closing at noon, they changed their trading strategies and trading policies in a timely manner.

Almost at the same time, Yuhang, Anzhao Fund Company internal.

After finishing his meal, Qin Qiuyue, the general manager and asset management manager of the company's main fund trading room, stared at the trading board of the two cities. After carefully examining the changes in the market's major main lines today and the market trends of many core hot stocks, he couldn't help but ponder for a moment, and turned his head to Zhou Hui, the main fund manager and the company's trading team manager, and said: "Zhou Hui, looking at the market trend today, it is obvious that the main line market has completely returned to the core main lines of 'big finance', 'big infrastructure', and 'military industry'."

"Yeah!" Zhou Hui nodded, "Manager Qin, do you have any ideas?"

Qin Qiuyue Yue did not answer directly, but paused and asked: "Do you think that in the subsequent market trends, the 'Securities' sector and the 'Internet Finance' sector will continue to lead the way?"

"It is likely!" Zhou Hui said, "Based on the market's main line expectations, at this point in time, the 'Securities' sector and the 'Internet Finance' sector are still the most expected core sectors in the entire market, and isn't it said that the central bank will cut interest rates and reserve requirements next month?

No matter whether this news rumor is true or false.

At least, the news expectations in this regard will directly affect the trend of the 'Big Finance' main line, and will further stimulate Stimulate this major main line to continue to rise.

And within the entire "big finance" main line field.

Obviously, the two major weight sectors of banking and insurance, due to their large size and market value, have far less flexibility than the "securities" and "Internet finance" sectors.

There are also the two major sectors of "securities" and "Internet finance".

The correlation with the "bull market" of the entire market should be the strongest, and the correlation with the trend of the entire market is the strongest.

That is, the stronger the "bull market" expectations of the entire market.

The larger the transaction volume of the two markets, the more fierce the progress of the margin trading balance, the higher the market investment sentiment and investment confidence, and the more intense the hype sentiment...

Then , the more popular the market trends of these two sectors will be.

This is actually the fundamental reason why the market trends of the entire "Securities" sector and "Internet Finance" sector have been much stronger than the overall market trend and other industry sectors and concept sectors in the past month. "

"Well, your analysis makes sense." Qin Qiuyue nodded and continued, "I think so too. What do you think... At this time, we should continue to adjust the position structure and replace some of the chips and positions of individual stocks in the two major weight sectors of banks and insurance with the corresponding weight stocks and hot stocks in the securities and Internet finance sectors?" (End of this chapter)