Chapter 812: The Running Index!

"Mr. Su..."

The people who had been having a heated discussion just now stood up to say hello when they saw Su Yu's arrival.

Su Yu nodded slightly, then motioned for everyone to sit down, then walked to Li Meng's side, his eyes fell on the big screen in the trading room, and asked: "How is it?"

Li Meng replied: "I was just about to adjust my trading strategy."

With that said, Li Meng briefly explained to Su Yu the results of the discussion just now and her current understanding of the changes in the two markets.

After Su Yu listened, he nodded with a smile and said, "Yes, the growth rate of volume energy is decreasing, and the upward trend of market index has begun to accelerate comprehensively. The emotional feedback of the entire market has become more and more consistent, which will indeed lead to The group of short- and medium-term profit-taking and arbitrage funds accumulated in the market has further increased rapidly on a large scale, resulting in a corresponding reversal of the market's long and short forces.

You plan to gradually reduce positions and take profits at this position to harvest market profits.

Be the first to stop the profit-taking and arbitrage capital groups that have accumulated too much in the market and have begun to exceed the ability of long-term funds to bear.

It is indeed a good trading strategy.

However, I expect a real long-short reversal in the market, especially if signs of such a reversal can be reflected on the market.

There will most likely be a stimulating and fermentation process.

In other words, the current market trend is likely to rely on the inertia of the trend, as well as the stimulation of internal and external favorable factors, the stimulation of overly consistent bullish sentiment, and the aggressive entry of short-term residual OTC capital groups into the market... ...continue to walk up for a while.

But it is definitely the end of a major uptrend.

In view of the huge scale of our institution's current asset management scale, there is definitely no problem in providing feedback from the market in advance. "

"How long do you think the index and the corresponding main line market can continue in the trend inertia relying on these current favorable factors?" Li Meng thought for a while and asked, "How much room do we have to gradually reduce positions and take profits?" time?"

Su Yu stared at the big screen in the trading room and responded: "According to my guess, the market conditions should last until next week."

"Next week?" Li Meng was slightly stunned.

Su Yu nodded and said: "Next week, at the beginning of the month, it should be clear whether the news about the central bank's interest rate cut and RRR cut rumored by the market can be realized, and whether this good thing can be realized, regardless of this heavy news. Whether the good news can finally be realized and implemented, as long as the news is revealed, the market reversal should begin.

After all, a sustained high surge is a major benefit that everyone has generally expected.

Once it is implemented, the benefits will be exhausted.

By then, the profit-taking and arbitrage funds on the market that have already made huge profits will definitely be unable to bear it.

What's more, the current line of "big finance" has been continuously short-selling and rising so eagerly. The biggest driving force for the market is this major good news.

Once the benefits are realized, it will be difficult for "big finance" to hold on and not adjust. "

"If we only have one week, then we have to be quick in our position adjustment strategy." Li Meng said, "Otherwise, it is very likely that we will not be able to complete the strategic plan of reducing positions and taking profits before the market adjustment comes."

Su Yu nodded and said: "The overall liquidity of the current market is still very high, and the constituent stocks currently held by several of our main fund products are basically core popular stocks with good market liquidity. In about a week, With time, it is still possible to gradually complete the strategic plan of reducing positions and taking profits.

Of course, at this stage.

In the case where the market conditions of the two cities have not yet substantially changed.

In the process of changing strategies and taking profits and reducing positions, we should not sell too aggressively, and we should carefully avoid the market's dragon and tiger list disclosures.

After all, our organization currently has a great influence on the market.

In addition, our holdings are relatively large.

If our strategic plan and the behavior of reducing positions and taking profits are exposed to the Dragon and Tiger list early, it is very likely to induce the market to make adjustments in advance, which will cause this round of market to peak early, thus restricting the execution of our strategy. , and the final realization of the position reduction and profit taking strategy. "

Li Meng nodded and said: "I have already told everyone to pay attention to this point of attention."

"Also..." Su Yu paused, "Have you notified the 'Anzhao Fund' managed by Mr. Qin?"

Li Meng heard Su Yu mention the 'Anzhao Fund' company, and then he reacted and said with a smile: "That's not true. Do we need to simultaneously reduce positions in all fund products of our two institutions?"

Su Yu responded: "It's still necessary."

After speaking, he picked up the phone and dialed Qin Qiuyue's personal phone number.

After a while, the call was connected. Su Yu told Qin Qiuyue the trading strategy plan that everyone had just formulated, and asked her to prepare strategies for reducing positions and taking profits for several major fund products managed by 'Anzhao Fund'. At the same time, the corresponding trading strategies must be kept strictly confidential to prevent the trading strategy plans from being spread and causing a butterfly effect on the current market trends.

After listening to Su Yu's instructions, Qin Qiuyue was obviously a little surprised.

She had no idea that Su Yu would choose this time to comprehensively reduce positions and stop profits on all major fund products.

"Okay, Mr. Su!" Qin Qiuyue responded without any nonsense and hung up the phone.

And she was standing next to Zhou Hui.

So, as soon as she hung up the phone, the company's fund manager Zhou Hui, who had been paying attention to the changes in the two markets, turned back, looked at her with a smile, and said curiously: "Is it Mr. Su's call? What did Mr. Su say on the phone? "

Qin Qiuyue thought for a moment and replied: "Mr. Su asked our company to gradually reduce positions and stop profits in the main fund products managed by our company, and reduce the overall position to less than 30%."

"Full reduction of positions?" Zhou Hui was stunned when she heard the news.

Qin Qiuyue noticed the change in Zhou Hui's demeanor, smiled, and said: "Isn't it surprising? I am also surprised. At this time, the overall market trend is still very good, whether it is the Shanghai Stock Exchange Index or the A50 Index. They have completely broken away from the previous platform and are on the trend of continuous breakthroughs. Even the Shenzhen Stock Exchange Index and the ChiNext Index have begun to break away from the previous shock platform and form a breakthrough pattern.

Logically speaking, at this time, we should further increase our positions and capture more excess profits from the market.

But Mr. Su asked us to harvest profits immediately and stop all profits.

This change in strategy is actually somewhat surprising.

However, our current position has indeed made a lot of profits. The entire net value has increased by 1.3 times compared to when we established the position.

As for harvesting profits in a timely manner, there is no problem. "

"Mr. Su asked us to reduce our positions and take profits, and generally reduce our positions to less than 30%. This should not be the reason why our fund products are so profitable." Zhou Hui responded, then returned her eyes to the two markets and thought carefully for a while. , his eyes just glowed brightly, and he said with some excitement, "Mr. Qin, I seem to understand Mr. Su's intention. The market position is indeed an adjustment risk, which is becoming more and more prominent, and if the market is near this position, If there is an extreme adjustment, it is absolutely impossible to recover within a day or two.”

"What's the intention?" Qin Qiuyue was still confused.

Zhou Hui smiled, pointed out the trend of the K-line chart of the Shanghai Stock Exchange Index and the Shenzhen Stock Exchange Index, and said: "Look, compared with the previous half month, in the last week or so of trading days, the trading volume of the Shenzhen Stock Exchange Index and the Shanghai Stock Exchange Index has increased. Is the volume showing a gradual decline?”

Qin Qiuyue took a look and found that it was true, and asked: "What does this mean? Isn't the overall market turnover still showing a trend of rising gradually? Isn't the incremental capital group outside the market still continuing to enter the market to do long positions? What’s more, the investment sentiment, investment confidence, profit-making effect, and investment risk appetite of the two cities are all on the rise!”

For a moment, she didn't see what was wrong with this.

Zhou Hui smiled softly and continued: "In the process of a gradual decline in the market's turnover in each trading day, the breakthrough trends of the Shenzhen Stock Exchange Index and the Shanghai Stock Exchange Index have accelerated.

On the one hand, it can explain the market's investment sentiment, investment confidence, as well as the profit-making effect, investment risk preference... and other factors, all of which are in a rapid upward trend.

However, it also shows that the market continues to rise.

The market capitalization of the entire market and the volume of circulating stocks continue to increase significantly.

At the same time, there are various favorable and exciting situations both inside and outside the market.

The new investment funds that have continued to pour into the market recently are gradually decreasing.

The market conditions have become better, the money-making effect has become stronger, and the long market sentiment and investment risk preferences are also rising rapidly. Logically speaking, the new investment funds pouring into the market should continue to increase significantly. It makes no sense. Gradually, however... it just happened. "

"Huh..." After hearing Zhou Hui mention this, Qin Qiuyue suddenly had a flash of inspiration in her mind and seemed to understand, "Indeed... it seems a bit strange."

Zhou Hui nodded and continued: "So we can't just look at the market's turnover status."

"Zhou Hui, are you trying to say that with the market turnover approaching one trillion, the active investor groups in the two cities and their long-term strength have almost reached their limit, right?" Qin Qiuyue smiled and finally understood. , “After a month of continuous short squeeze and rise in the market, from opportunities on the left to opportunities on the right, from a bull market with doubts to a bull market with certainty, the investor group who is still paying attention to the market is continuing a Under the influence of the market situation last month, the vast majority of people should have been unable to bear the temptation to enter the market.

And when the vast majority of investors have entered the market.

Then, the number of new investors entering the market will naturally not be as large as before.

At the same time, the newly added incremental funding groups will naturally fall into the process of gradual exhaustion. "

"Yes, that's the truth." Zhou Hui nodded and continued, "And this also means that the bullish power that continues to take over is currently in a process of continuous decline. At the same time, the entire market is still in a state of decline. An aggressive continued upward trend.

And the most important thing..."

Zhou Hui paused and then continued: "That is, as the market continues to surge and unilaterally rise, in the current market, there should not be a small number of capital groups like our institution that hold large positions and make large profits, and there are many The investment capital groups chasing short- and medium-term opportunities should already be fully profitable now.

These groups of investment funds that were once firmly bullish in the market have made huge profits.

Especially when we gradually find that the market's subsequent long-term strength is gradually weakening, and the market volume is about to reach its limit without a major change in the macro-monetary funds, these funds... are very likely to start harvesting profits and taking profits like us.

In other words, the current profit-taking in the market is already very heavy.

It is difficult to take on such a large group of profit-taking funds by relying solely on the current new capital volume and the new long-term strength in a declining state.

This should be the fundamental reason why President Su asked us to take profits and take profits in time and reduce positions significantly at this stage. "

"No wonder..." After Zhou Hui's words, Qin Qiuyue has completely understood it. She has completely agreed with Su Yu's strategic idea of ​​reducing positions and taking profits. She smiled and said, "President Su is still amazing. He can always interpret the information on the market that ordinary people can't find, so as to make appropriate changes in trading strategies. However... isn't it still a bit too pessimistic to reduce the position to less than 30% in one breath? Logically speaking, as long as the basic logic of the bull market remains unchanged, the market adjustment should also be a benign adjustment. For example, the market adjusted extremely on November 10, and then quickly recovered and set new highs, didn't it? "

Faced with Qin Qiuyue's questions, Zhou Hui continued to respond: "If the market adjusts to a turning point after the new long-term funds are exhausted, the adjustment structure will be significantly different from the wave on November 10. At that time, the entire market was still in a situation where the bull market atmosphere was rapidly fermenting, and a large number of incremental funds outside the market rushed into the market.

At that time, the new incremental funds in the market were rapidly increasing.

In that state, all high-quality chips in the market were scarce.

Not to mention that it only fell a few points at that time, even if it fell back to 3,000 points, the market would quickly repair the decline and set a new high in the short term.

However, now the volume and explosion of the entire market have reached a relatively extreme position.

At the same time, the newly added incremental funds have begun to slow down, and there are no so many cheap high-quality chips in the market.

In this case, once the market adjusts.

It is impossible to be a short-term adjustment like that on November 10th. It is very likely to be a medium-term adjustment with both space and time.

Of course, the basic logic of the bull market in the market should not be shaken.

And this possible adjustment should also be a benign adjustment.

After a wave of adjustments, the market will adjust to a certain space, and there will be more high-quality and cheap chips in the market.

At the same time, with the positive impact of the central bank's monetary policy shift, and the passage of time, the clearing of profit-taking, the capital situation of the market will definitely improve significantly.

At that time, the market should re-condense a strong long-term capital force and re-promote the market to rise.

I think this is also the reason why General Manager Su asked us to continue to retain a certain position after reducing positions. "

Qin Qiuyue thought about it carefully and said with a smile: "You still understand it clearly. In this case, let's not hesitate and start to reduce positions and stop profits according to Mr. Su's strategy. Oh... By the way, when reducing positions, we must pay attention to one thing, that is, we cannot be too eager, we cannot sell chips too concentratedly, and we must avoid the dragon and tiger lists of the two cities as much as possible, and we cannot expose our trading seats in advance. "

Now, most of the main capital institutions in the market, as well as many small and medium-sized investor groups.

They all know that their institutions are related institutions to the "Yuhang Investment" institution headed by Su Yu.

If they expose the company's trading seats in advance in the process of reducing positions and stopping profits, it will inevitably arouse associations, thereby completely exposing the investment strategy intentions of the main funds of the "Yuhang system", seriously interfering with the implementation of this round of reducing positions and stopping profits, and endangering the current market situation.

"I understand! "Zhou Hui nodded and said, "Such an extreme trend of forced short rise, under the assistance of extreme bullish sentiment, even if the bullish support force begins to gradually decline, the market's money-making effect remains hot, especially many active main capital groups are still concentrating on a number of popular stocks in the market, and they are rushing to buy stocks to hit new heights. The excessive accumulation of profit-taking plates should also maintain an optimistic spirit for a period of time, and carry out corresponding lock-up operations to keep profits running.

At this time...

We will gradually reduce our positions, avoid the data of the Dragon and Tiger List of the two cities in time, and reduce the market with poor liquidity first, and then reduce the market with good liquidity.

It should not expose our trading seats, so as to successfully complete the plan of reducing positions and stopping profits. "

After saying that, Zhou Hui did not wait for Qin Qiuyue to give any more instructions. She turned around and called a short meeting of a few minutes with all the traders in the trading room, made corresponding trading strategy instructions, and officially started the plan of reducing positions and stopping profits for several main fund products under her management, harvesting profits in a timely manner.

While the main fund products of the "Anzhao Fund" series adjusted their investment and trading strategies in a timely manner.

The trading time of the two cities has also entered around 10:30.

As the main funds of the ‘Yuhang system’ adjusted their trading strategies and made plans to reduce their positions and stop profits in time, during this period, whether it was the Shanghai Composite Index, the Shenzhen Composite Index, the ChiNext Index, the Small and Medium Enterprises Index, or the A50 Index, they continued to break through rapidly.

At this moment, the Shanghai Composite Index still refreshed the intraday increase to 1.78%.

At the same time, the A50 Index's intraday increase reached 2.19%.

In addition, the Shenzhen Composite Index and the ChiNext Index also achieved intraday increases of more than 1.3%.

In addition to the performance of the major core indexes in the market... a number of popular core main line areas in the market, such as ‘big finance’, ‘big infrastructure’, ‘military industry’, ‘film and television media’, and ‘new stocks’, have continued to break through strongly.

Among them, the securities sector index and the building decoration sector index have already stood at the intraday increase of 3%.

The index of the ‘Internet Finance’ sector rose by 4.22% at this moment. The corresponding constituent stocks within the sector also set off a pattern of daily limit rise again.

At 10:31, ‘Huaxin Securities’ exceeded the 5% increase, and the intraday trading volume reached the 3.7 billion mark after an hour of trading.

At 10:32, the intraday increase of ‘Huagong International’ reached 6%, and the intraday trading volume reached 2 billion.

At 10:33, ‘Huaguo Construction’ broke through the 5% increase.

At 10:34, ‘Huahang Heavy Machinery’ once again hit the daily limit, and at the same time, the intraday increase of the ‘National Defense Military Industry’ industry sector index reached 3%.

At 10:35, in the ‘Bank’ sector, ‘Minshang Bank’ rose by more than 6%.

At 10:36, the intraday increase of ‘Tonghuashun’ once again reached the 7% mark, and the intraday turnover rate reached 10%.

At 10:37, the intraday increase of ‘Eastern Fortune’ reached 6%. At the same time, the three musketeers of ‘Internet Finance’ once again squeezed into the top ten of the hot list of investors’ attention and discussion in the two cities.

At 10:38, ‘Pacific Securities’ hit the daily limit. In the securities sector, 4 securities stocks have hit the daily limit.

At 10:39, the daily increase of the two major weight sectors of banking and insurance reached 2.67%.

At 10:40, ‘China Airlines Heavy Machinery’ completely hit the daily limit. All industry sectors and concept sectors in the two cities have achieved a red market status.

At 10:41, in the ‘Internet Finance’ sector, more than 5 stocks hit the daily limit.

At 10:42, ‘Bayi Steel’ hit the daily limit.

At 10:43, ‘Yingkou Port’, a demon stock that has performed strongly recently, also hit the daily limit under the continuous attack of the main buying orders of 10,000 hands.

At 10:44, the intraday trading volume of ‘Yingkou Port’ reached 179 million.

At 10:45, the ‘Yingkou Port’, which rose straight, hit the daily limit. At the same time, the ‘Port Shipping’ sector, as well as the two major concept theme sectors of ‘Eurasian Economic Belt’ and ‘Revitalization of Northeast China’, showed a straight-line upward trend.

At 10:46, the main theme of the concept theme of ‘Reform and Restructuring of Central Enterprises and State-owned Enterprises’ moved across the board, and a number of ‘State Reform’ concept stocks have attracted a large number of main buying orders.

At 10:47, the intraday increase of ‘Huagong International’ reached 7%, continuing to set a new high on the market.

At 10:48, the two major central enterprise stocks of ‘China South Locomotive and Rolling Stock Corporation’ and ‘China North Locomotive and Rolling Stock Corporation’ rose straight at the same time, and the trading volume of both stocks quickly exploded to more than 1 billion.

At 10:49, the entire sector of the ‘Shanghai Free Trade Zone’ emerged as a dark horse, with ‘Shanghai-Hong Kong Group’ rising by 3.5%, and ‘Waigaoqiao’ and ‘Lujiazui’ rising by more than 4%.

At 10:50, ‘Huatong Securities’ hit the daily limit.

At 10:51, the ‘Securities’ sector index broke through the 4% mark in terms of intraday gains.

At 10:52, the net inflow of major funds in the ‘Securities’ sector reached 3 billion again, and the intraday turnover of the entire sector has now reached 50 billion.

At 10:53, ‘Huaxin Insurance’ rose by more than 5%.

At 10:54, the Shanghai Composite Index rose by nearly 2% in terms of intraday gains and stood at 3,620 points.

At 10:55, in the ‘new stocks’ sector, recent new stocks broke out again. The new stocks that once broke through the ceiling and floor yesterday were able to reverse and hit the daily limit today.

At 10:56, ‘China Railway Construction’ and ‘China Construction’ rose by more than 5%.

At 10:57, the number of stocks in the green market in the two markets dropped to less than 100, and the market's money-making effect once again reached its peak.

At 10:58, the number of stocks that changed hands and naturally reached the daily limit in a single day was as high as 81.

At 10:59, the turnover of the two markets had already broken through the 460 billion mark.

At 11 o'clock in the morning, the Shanghai Composite Index officially reached the 2% increase mark, and the strongest A50 Index once again reached the 2.5% increase mark.

At the same time, from the K-line pattern of the Shanghai Composite Index and the A50 Index.

The two major indexes have completely broken away from all the support moving averages below and have entered a continuous and exciting main upward trend.

After the market trading time entered 11 o'clock, it began to enter the last half an hour of the closing stage before the midday closing.

The main trading volume and bullish support of the two cities.

Then it began to further converge to the major core main lines of the two cities, as well as the popular leading stocks and main line weighted blue chip stocks of major concept themes.

Among them, the trading volume of large-cap blue chip stocks and popular concept leading stocks continued to surge.

The trading volume of many non-popular main line stocks and a large number of marginal main line component stocks began to decline, but this phenomenon was temporarily covered up by many popular stocks and main line weighted stocks that were extremely aggressive and showed a strong money-making effect, and did not attract much attention from investors.

And what everyone did not notice was...

In many popular main line related industry sectors and concept sector component stocks such as "big finance", "big infrastructure", and "military industry" that are slightly lacking in liquidity.

The active selling volume has begun to suppress the active buying volume.

That is, the market of related stocks has shown obvious upward pressure, and the trend and differentiation trend with a number of popular main line stocks are also gradually widening.

It's just that because the index is kidnapped by the continued surge of a number of weighted stocks, it can't be seen on the surface at all.

And under the extreme bullish sentiment, not many investors will delve into this point.

Everyone is just frantically reducing holdings of relatively weak stocks, focusing on strong popular stocks and mainline weighted stocks, trying to maximize the market's excess returns. (End of this chapter)