Chapter 824 The Differentiation of the Market Is Intensifying!

"That is to say, it is still difficult for the index to open up new upward space, right?" Zhou Kan said.

Xu Xiang nodded and said: "The surface market will definitely become more and more differentiated, that is, the active capital groups in the market will definitely focus more and more on the main line hot weighted stocks of "big finance", "big infrastructure", and "military industry" with strong money-making effects, as well as related concept leading stocks.

After these hot weighted stocks and concept leading stocks siphon funds.

Other main line component stocks, as well as non-main line marginal stock groups, are likely to lose more blood and show more violent fluctuations.

In short, under the core logic that the market trend has begun to turn from strong to weak.

Such as the main line of "big infrastructure" and the "new era road and maritime Silk Road" are favorable, And various positive news about the direction of "big finance".

It can only boost the market's disk trend temporarily.

It will not change the trend development of the market itself and the expected development of the core logic.

The most fundamental hidden danger in the market at present is the gradual weakening of new incremental funds, and the inability to further expand the volume on a large scale.

This point cannot be substantially solved.

Then, when the market has accumulated too many short-term and medium-term profit-taking plates and unwinding plates.

The market cannot quickly complete an upward breakthrough, and it is bound to usher in a wave of drastic adjustments under the continuous selling of profit-taking plates and unwinding plates.

Only in this way can a huge active capital flow be released again and the market can be reorganized. Solidify the overall chip structure of the market.

Re-condense the main force of long positions. "

"Indeed." Zhou Kan nodded and said, "After the continuous forced rise in the market during this period, there are too many capital groups that continue to flow into the core main line areas of 'big finance', 'big infrastructure', and 'military industry'. After these influxes of funds, they basically settle down after getting chips and become profit-taking plates, becoming potential short-selling forces in the market.

And the market has developed to the present...

The active capital flows that can be siphoned from other main line areas by the core main lines of 'big finance', 'big infrastructure', and 'military industry', as well as the off-site follow-up capital flows, are already Very limited, in other words... in these three main areas, the potential long and short forces, the structure is indeed reversing.

In this case, then we now... continue to sell gradually according to the established trading strategy? "

Xu Xiang nodded and said: "Yes, continue to sell the fund holdings gradually according to our established trading strategy. It just so happens that today's 'big infrastructure', 'new era road, maritime Silk Road', this core main line, has a large positive stimulus, providing enough liquidity on the market, and also giving a higher market exit position, which is very conducive to our reduction of positions and profit-taking. "

"Okay!" Zhou Kan responded.

Then, he continued to execute the relevant reduction of positions and profit-taking operations, and continuously sold many 'big finance', 'big infrastructure', and 'military industry' main line areas. The market has already seen a large volume of stagflation, or long and short divergence of holdings, and immediately harvested the profits of holdings while reducing fund positions.

And in 'Zexi Investment' company.

Begin to follow the main fund group of "Yuhang system" to reduce positions and stop profits.

Zheng Zhongming, general manager of asset management business of Huatong Bank's proprietary investment department in Shanghai, is still directing the fund managers he manages to increase the relevant positions of funds and further pursue the market trend when major positive news continues to stimulate the market and many "big finance", "big infrastructure" and "military industry" main line weight stocks continue to set new highs.

Similarly, within E Fund Management Co., Ltd., Huaxin Securities Proprietary Investment Department... and other large institutions.

Many main fund product managers are also doing the same operation.

There are also some new fund product trading departments that were just established in November. The relevant fund managers are looking at the hot market, the popular weight stocks that are still setting new highs, and then looking at the pitiful holdings of the fund products they manage.

He also directed his traders without hesitation to chase the market frantically and grab the relevant main line weight stocks.

Therefore, they want to quickly establish positions, keep up with the market's gains, and share the bull market's continuous advancement.

And in this game of various capital flows with newcomers and exits...

As the market trading time progresses, the Shanghai Composite Index began to explode and go sideways. In the entire market, except for the main line of "big infrastructure" stimulated by favorable factors, and stocks related to the concept theme of "New Era Road and Maritime Silk Road", other stocks are difficult to continue to break through upward.

Especially when the market trading time enters after 2 o'clock in the afternoon.

The long-term acceptance of the market has shown a significant decline.

At 2:10, the daily increase of the Shanghai Composite Index once again fell from the highest point of 1.83% in the market to below 1.2%. At the same time, the weighted industry sectors of the "big infrastructure" main line of "building decoration", "building materials", "commercial real estate development", "mechanical equipment", and "steel" have fully occupied the top five of the growth list of all industry sectors in the two cities.

And the securities sector that once led the market.

At this moment, the intraday increase has slipped below 1.5%, basically the same as the increase in the Shanghai Composite Index.

And as the securities sector index plunged, the share prices of its corresponding constituent stocks, such as ‘Huaxin Securities, Western Securities, Huashang Securities, Huaxin Securities, Huatou Capital, Hatou Capital…’, also plunged. In particular, the stock ‘Huaxin Securities’, which represents the trend and sentiment of the weighted stocks in the two cities, has fallen from its high point to around 1.1% in intraday growth, and has begun to weaken the growth of the Shanghai Composite Index.

Of course, the ‘Internet Finance’ sector index, as the concept sector with the most concentrated money-making effect in the entire market.

At this moment, it can still be relatively stable, still maintaining a growth of more than 2.5%.

And stocks such as ‘Dazhihui, Tonghuashun, Dongfang Fortune, Hengsheng Electronics, Jinzheng Shares, Yinjie Technology, Huake Jincai…’, also maintained a growth of more than 5%.

As for other market areas that are not the popular main lines of ‘big finance’, ‘big infrastructure’, and ‘military industry’,

At this moment, most of the industry sectors and concept sectors have fallen from their intraday highs to the flat position, and even many stocks have fallen from the red market to the green market.

At 2:20, the market plunged further.

At this time, the Shanghai Composite Index's increase further slipped below the 1% increase, and the market correction was close to 1 point.

The Shenzhen Index, the ChiNext Index, and the Small and Medium-sized Index's market increase have all fallen below the 0.5% increase position.

Even the strongest A50 Index.

At this time, the market increase was only about 1.2%, which can be said to be a sharp decline.

As for the specific market performance and individual stock performance.

The market of the entire market has further concentrated on the direction of "big infrastructure". Only the "big infrastructure" direction still has a strong intraday money-making effect. Other fields, including the "Internet finance" sector, have begun to show obvious loss effects for many fund groups chasing high intraday.

At 2:30, the Shanghai Composite Index gradually stabilized at a 0.79% increase.

Then, under the theme of "big infrastructure" and "new era road and maritime Silk Road", the index tried to pull back.

At 2:32, the Shanghai Composite Index rebounded to a 0.85% increase.

At 2:34, the Shanghai Composite Index returned to the 0.9% increase.

At 2:36, the Shanghai Composite Index returned to 1%, but after breaking through the 1% increase, it did not stabilize, and then under the influence of many selling orders, it quickly fell below the 1% increase.

Then, it returned to the intraday increase range of 0.7% to 0.8%.

In the fluctuation of the index.

The main market trends of the two cities are also volatile.

Moreover, the market trend gap and the changes in the long and short patterns of a number of market mainline weighted hot stocks and concept leading stocks and other component stocks in the mainline field are becoming more and more differentiated.

Individual stocks of the same sector and the same concept.

In the absence of any fundamental problems and substantial negative interference.

A relatively popular stock has already reached its daily limit, while another stock has dived from a high platform and cannot even turn red.

At the same time, as the trend of related stocks is increasingly differentiated, the volume performance of several core mainline areas is still setting new highs.

It is just that the volume is expanding.

The net inflow of the main funds is rapidly declining.

At 2:45, when the market entered the last fifteen minutes of the closing.

The net inflow of the main funds in the securities sector, which once reached 2 billion yuan during the day, has now turned from a net inflow of main funds to an outflow state.

Of course, the banking and insurance sectors are still in a state of net inflow of main funds.

However, the net amount of net inflow of the main funds has dropped significantly compared with the market before 2 o'clock.

At 2:50, the A50 index accelerated its dive, and the market increase slipped to the same level as the Shanghai Composite Index.

At the same time, the number of stocks in the red market in the two cities also dropped sharply, with only more than 1,200 stocks still in the red market.

Finally, when 3 o'clock in the afternoon came, the two cities welcomed the closing time.

The Shanghai Composite Index was set at a 0.72% increase, leaving a relatively long upper shadow line on the K-line chart.

As for the Shenzhen Index, the ChiNext Index, and the Small and Medium-sized Enterprises Index, they all slightly maintained the red market trend, with increases ranging from 0.15% to 0.35%.

The A50 Index only rose by 0.73% today, which was relatively consistent with the increase of the Shanghai Composite Index.

However, although the intraday trend of the core indexes of the two cities was not very good, and there were two rapid divergences during the session, leaving a long upper shadow line, showing a divergent trend between long and short.

But the top 20 popular stocks with high attention and discussion among the investor groups in the two cities.

In terms of the closing results, it still maintained a comprehensive red market status.

Moreover, whether it is ‘Huake Suguang’ or ‘Lanshi Heavy Equipment’, they finally continued to close at the daily limit and successfully set a new historical high.

At the same time, ‘Dazhihui’, ‘Yingkou Port’, ‘Shanghai Sanmao’ and other main line concept leading stocks.

All closed at the daily limit, setting a recent high and an annual high.

In other words, in the index divergence.

The short-term hype effect of the market, as well as the profit-making effect of core leading stocks and concept leading stocks, have not been lost, but are getting stronger, further attracting the participation of active short-term capital groups from all walks of life in the market, and at the same time creating a stronger money-making effect.

Of course, facing the closing results of the two cities.

For the majority of investors in the market who have high expectations, they still feel that it is lower than expected.

However, even if everyone is somewhat dissatisfied with the day's closing results, no one feels that the market has reached its peak, or that there are any major potential risks in the market.

After all, a number of leading stocks continue to hit new highs.

The market's speculation space continues to be opened up and refreshed.

Can this be said to be the peak of the short- to medium-term market? Can this be said to be a decline in the money-making effect of the market?

"Today's market trend is a bit lower than expected!" After the market closed, at around 3:15 pm, inside the Yinghui Fund Company in Magic City, the 'Yinghui No. 1' fund product trading room, as the fund product trading team leader Yu Lei stared at the two markets that had been fixed for a long time. After a brief review, he said, "I feel that the internal capital differences in the market are gradually getting bigger, and the upward pressure on the index is also gradually getting bigger."

As a fund manager, Liu Guanhai heard Yu Lei's words, nodded slightly and said: "There is no doubt that the differences in the market are increasing, but fortunately, looking at the closing results, the trading volume of the two cities is still continuing. Expanded, it has reached a scale of more than 970 billion.

In terms of turnover of this scale.

There should be no big problem with the active and liquid capital group on the market taking over market trends.

At the same time, aren’t there many potential benefits waiting to be released in the two core lines of ‘big finance’ and ‘big infrastructure’?

There is this continuous positive push.

The profit-taking and arbitrage-unwinding groups in these two core main areas will definitely hesitate to sell.

In this way, the selling of these two main lines will not be serious.

Looking at other non-popular mainline areas, although there is no buying, there is also no selling.

Therefore, in general, as long as the total market turnover continues to rise, at the same time, there are several popular core main lines in the market, and there are potential positive stimulations and corresponding future expectations.

So, even if there is pressure on the market, it will not form an extreme adjustment trend.

After all, these selling pressures.

With the continued expansion of new transaction volume and the continued influx of new position building funds in these core main areas, it is enough to bear it.

I guess..."

Liu Guanhai paused, thought about it, and continued: "The next market trend will definitely not be as smooth as before, but this continuous upward trend will certainly not be easily reversed before the transaction volume shrinks. , most of them will continue this trend of continuous upward shocks, digesting internal profits and unwinding arbitrage through shocks and upward moves.

Then when profit taking and unwinding are almost digested, a new round of smooth upward offensive will break out.

In other words, I think at this position, the slope of the upward trend will probably gradually level out. Whether it is the Shanghai Stock Exchange Index or the A50 Index, it will gradually move closer to several important moving averages that diverge, making the technical shape look better. . "

After Yu Lei listened to Liu Guanhai's analysis, he thought about it for a while, nodded, and agreed deeply.

Indeed, the market showed divergence, but the reception was still relatively good, and there was no sign of any possible extreme adjustment.

At the same time, he believes that the market has risen after such a long period of short squeeze.

The funds outside the market are all rushing to enter the market.

Countless new funds want to compete for high-quality mainline core chips in the field.

In this case, the market has no room for downward adjustment at all, and the maximum trend is to move closer to the moving average and build a new chip platform.

In other words, market investment risks are still controllable, and there is no need to worry too much at this time. (End of chapter)