In the case of the Shanghai Composite Index breaking through like a rainbow.

Similarly, today's Shenzhen Index and GEM Index are also Jedi rebounds, closing up more than 2% of the gains.

And the two cities have a total turnover of 93.2 billion, approaching the 100 billion mark, all industry sectors in the market, none of them fell, including the leading 'building decoration, building materials, steel, real estate' and other core industries in the field of infrastructure, the increase has reached more than 5%, and the stocks in the sector have also set off a tide of daily limits.

In terms of conceptual sectors, the concepts of 'state-owned enterprise reform' and 'Shanghai Free Trade Zone' led the gains.

The two major concept sector indices rose by more than 4%, of which the concept of 'state-owned enterprise reform' rose by 4.78%, and more than 11 stocks in the sector closed the daily limit, and more than 15 touched the daily limit in the intraday.

In addition to strong performance of indices, industry sectors, and concept sectors.

In terms of popular stocks in the two cities, the money-making effect has soared, compared with yesterday, and even in the early trading session, they have increased significantly.

Among them, the popular stocks in the main direction of 'infrastructure'.

Huaguo Metallurgical, Huaguo China Railway, Bayi Iron and Steel, Huaxia Fortune, and Kumho Group achieved two consecutive daily limits with both volume and price rising; Conch Cement, Shanghai Construction Engineering, Pudong Construction, Shibei High-tech, Waigaoqiao, High-tech Development and other stocks were greatly grabbed by the main funds, and they all closed at the close; Huaguo Construction, Huaguo Communications Construction, Huaguo Railway Construction, Huaguo Baosteel, Wuhan Iron and Steel Co., Ltd., Huaguo South Locomotive, Huaguo North Locomotive and other blue-chip large-cap stocks have risen by more than 5%, and the disk turnover has exceeded 100 million.

A popular stock in the main direction of the concept of 'SOE reform'.

In the main line of 'infrastructure' has a strong relationship, and the company's business is in the field of 'infrastructure' stocks, as well as the same concept of 'Shanghai Free Trade Zone' of a number of stocks, have been attacked by a strong rush for funds, such as Beixin Road and Bridge, Shanghai Sanmao, 10,000 enterprises, Shanghai Ganglian, Huagong International, etc., are large single blocked limit, strong state, at a glance.

Of course, in the case of 'infrastructure' and 'state-owned enterprise reform' two core main lines being frantically chased by the main funds and increasing their positions in a large way, the small and medium-sized board, the gem direction of the 'mobile Internet' and 'smart phone industry chain' in the early stage of the two main areas of the 'growth hot stocks', although the market sentiment of the collective recovery and the follow-up effect of funds have passively risen a lot, but from the overall disk of many popular stocks, they are still in a weak state.

Among them, especially in the fields of 'media, mobile games, and Apple industry chain'.

Related core popular stocks, such as LeTV, Huayi Brothers, Changqu Technology, Hua Qingbao, Goertek, Lixun Precision, Xinwei Communications, etc., have risen far behind the major indexes, and they have rebounded by about 1%, and the entire disk trading situation, in the case of year-on-year amplification of turnover, large funds have completely shown a net outflow.

Therefore, it seems that the two-market pattern of a comprehensive rise and a strong rebound.

In fact, the strong and weak styles are still extremely distinct.

Judging from the closing results, the active funds in the two cities, as well as the over-the-counter incremental funds that follow the trend, whether large funds or small funds, the main convergence direction, chasing the field, is to play a continuous money-making effect, and have the two core main lines of 'infrastructure' and 'state-owned enterprise reform' that have reversed expectations in the future investment logic.

As for the two core main areas of the small and medium-sized board, the gem, 'mobile Internet' and 'smart phone industry chain', which were hyped by various funds in the past year and shouted slogans such as 'new economy, new future' and 'growth alternative value', there are obvious signs of being abandoned by the main funds in the market and being significantly weaker than the market.

Faced with such a closing result in the two markets......

All investors in the two cities, whether they are retail investors, floating capital groups, or institutional groups, are extremely high-pitched and even excited.

After all, this is the first time this year that the Shanghai Composite Index has risen by 3%.

It is also the first time that the Shanghai Composite Index has stood on the 20-day line with a large amount of sunshine, playing a clear rebound trend.

Similarly, this is the first time that the turnover of the two cities has stood above the 90 billion mark this year, approaching the turnover of the market from a high level last year.

"Haha, today's big A trend is finally a big one!"

In a rare atmosphere of making money in the market, some people were excited and sighed on the forum of online stock discussion.

"For two consecutive days, the market has really bottomed out, and it is ...... Today's wash is really explosive, and I don't know how many undetermined investors have been washed away. ”

"Hey, I was washed out, but the end of the market was not right, and I chased the position back at a high level!"

"The wave of diving in the morning half an hour is really scary."

"Look at it now, that wave of diving is simply the best buying point of the whole day!"

"After the closing, that wave of diving was naturally the best buying point of the day, but at that time...... Who would have thought? I was also scared to pee at the time, but I finally endured it and didn't sell the position that I chased yesterday, otherwise I would be angry today. ”

"It's said that holding shares requires faith!"

"The main areas of the 'Fortune Road' are generally not wrong."

"Yes, if you are afraid of following Mr. Su's seat operation, then don't speculate in stocks as soon as possible."

"Two consecutive long white candles have broken through, and this round of the Shanghai Composite Index is not 2200 points, it is impossible, right?"

"I didn't say it, the pressure level of 2200 points, this round will be broken!"

"The Shanghai Composite Index broke through 2,200 points, even if it broke through the shackles of the large shock range of 2,000 to 2,200 points again, so ...... I'm afraid the follow-up space will be opened. ”

"I feel that 2200 points, there should be no problem, but whether the follow-up can really open up more space, I feel that it still depends on the continuity of the two core main lines of 'infrastructure' and 'state-owned enterprise reform', if the main funds are ambitious and can really use these two main lines to pull out the market space, then last year's Shanghai Index high, that is, 2500 points, is estimated to be visible, after all, 'infrastructure', 'state-owned enterprise reform' The two core main lines are too strongly related to the blue chips, and the blue chip riots, the index is very fast!"

"If you can really get to 2500 points, then there is a lot of space."

"Indeed, the Shanghai Composite Index has reached 2,500 points, and the two core main lines of 'infrastructure' and 'state-owned enterprise reform', popular stocks, have at least doubled the market, right?"

"I'm afraid it's more than that, I feel that these two core main lines will definitely be able to get out of more than one demon stock."

"Beixin Road and Bridge, Shibei High-tech, Waigaoqiao, Shanghai Sanmao these checks, there is definitely the potential of demon stocks, especially Beixin Road and Bridge, this check is the only one in the market today, and this check has also undergone a lot of changes on the limit today, tomorrow's three boards, there should be no accidents."

"But from the perspective of today's individual stocks for the market's sentiment-driven effect, it is obvious that Shibei High-tech, Huaguo China Railway, and Huaguo Metallurgical are the backbone of the market sentiment, of course, Waigaoqiao is not bad, and Shanghai Sanmao is more like the leading stock in the direction of the 'Shanghai Free Trade Zone' after the sentiment diverges."

"The leading position of the two main lines of Huaguo China Railway and Huaguo China Metallurgical is naturally beyond doubt."

"As for Shibei High-tech, today's trend is indeed very strong, and the popularity and popularity are indeed very high, but I think Beixin Road and Bridge has a greater chance, after all, there is the blessing of Mr. Su's 'Fusheng Road' seat, and the plate of Beixin Road and Bridge is significantly smaller than that of Shibei High-tech."

"The specific potential depends on today's Dragon and Tiger list data, right?"

"Yes, demon stocks came out after the combined efforts of market funds, not predicted in advance."

"No matter which one it is, anyway, the follow-up market, the two core main lines of 'infrastructure' and 'state-owned enterprise reform', should be the most certain."

"There's no doubt about it! Today's big funds are mainly increasing their positions, which are these two main areas. ”

"So there is no chance for the two core main lines of the small and medium-sized board and the gem in the direction of the 'mobile Internet' and the 'smartphone industry chain' in the early stage, and even a vote of growth stocks? I'll go...... What about the 'market growth logic' that institutions shouted at before? Why is the style changing now! ”

"Looking at today's turnover, the increase in the turnover of the Shanghai Stock Exchange is significantly greater than that of the Shenzhen Index and the ChiNext Index, and I feel that the two core main lines of the 'mobile Internet' and 'smart phone industry chain' in the direction of the small and medium-sized board and the gem, and even the main investment line of 'growth stock logic', do not have any opportunities for the time being."

"In a bear market, it is necessary to do the areas with the strongest concentration of funds in order to make a little money."

"The main board of the Shanghai Stock Exchange has been stronger than the small and medium-sized board and the gem for many consecutive trading days, and I think this is an obvious style change signal."

"Today's 'LETV, Huayi Brothers, Changqu Technology, Oriental Fortune' and other stocks, whether from the flow of funds on the disk, or from the perspective of trading volume and growth, it is indeed significantly weaker than the market, and I feel that it has been obviously abandoned by the main funds in the market, and we should try to avoid this field, right?"

"Over-the-top bull stocks are not as good as dogs!"

"Small and medium-sized board, gem 'mobile Internet', 'smart phone industry chain' these two directions, last year was the main funds of all walks of life too fierce, this year has plummeted, I don't know how much buried in the bottom, high standing guard funds, these are endless hedge chips, plus these core hot stocks, its performance on the basis of last year's high growth rate, the first quarter of this year, the performance growth rate has dropped a lot, not enough to support the high valuation, the market main funds, in the face of this situation, Naturally, I am reluctant to pull up. ”

"Yes, compared with the two, the opportunity of the main board is highlighted."

"At the beginning of the year, the main funds in the market have not speculated on the two main directions of the small and medium-sized board and the gem direction, 'mobile Internet' and 'smart phone industry chain', however...... As a result, everyone has seen that the expectation is overdrawn, and the performance imagination space is also declining, coupled with the heavy hedging plate, continuing to speculate in this direction will not drive market sentiment at all, nor can it gather the money-making effect, and the market has not been new in this regard recently. ”

"Ahri Baba's listing should form a certain positive support for the two main lines of 'mobile Internet' and 'smart phone industry chain', but this will have to wait for the news to land, and the market will not show it until it is ...... It's still a little too early. ”

"There is no need to analyze too much logic, all in all, where Mr. Su's 'wealth road' goes, just follow where to speculate, no matter how much analysis there is, our understanding of the market will not be better than that of large asset management institutions gathered by long market analysts, as long as you see where the big money continues to gather, you can probably judge where there may be a market."

"Yes, yes, just follow the 'Fortune Road' to speculate, you really don't have to think about it so much."

"The analysis is as fierce as a tiger, and when I look at the operation of two hundred and five, think about it carefully...... With so much analysis, it's really useless! ”

With the passage of time, after the closing results were released, the majority of investors in the entire market were hotly discussed, and everyone's views on the market outlook became more and more distinct, and at the same time, they became more and more confident.

"In this market, it is not uncommon for one long white line to change the long and short views, and two long white lines to change beliefs." At the time of the majority of investors in the market, when the after-hours review and heated discussions, Liao Guanghua, general manager of Yanjing, Huashang Securities' proprietary investment department, briefly browsed the hot topics related to stocks on the Internet, and sighed, "The recovery of market sentiment is really much faster than imagined!" ”

Zhang Guangnian, chief analyst of the China Commercial Securities Market, who was standing next to Liao Guanghua, responded with a smile: "What does this prove? It proves that what the market lacks at present is not good, capital, performance, expectations and the like, but confidence and money-making effect...... Faith is more precious than gold! ”

"As for the rapid recovery of market sentiment ......"

Zhang Guangnian smiled and continued: "Lao Liao, don't forget, the domestic financial trading market is a trading market dominated by retail investors, as long as there is a continuous money-making effect, the demonstration effect of this market is naturally very large, so the emotional fluctuations will naturally be much more intense than other mature markets." ”

"yes!" Liao Guanghua pondered for a moment, nodded, and said, "Compared with the control of the emotional context of the market, and even the mining of the main theme, you capital and many powerful private equity fund managers are far more sensitive than many institutions within our system. ”

"For example, it's like the main line of 'infrastructure' and 'state-owned enterprise reform' in the past two days."

"Before, everyone didn't realize that there were opportunities for investment and even conceptual hype in these two fields, but no one dared to move these two lines."

"At this moment, everyone came back to their senses and realized that there were no cheap chips to pick up."

"I have to say that Mr. Su of 'Yuhang Investment' is really a master in mining the main line of the market and even stimulating market sentiment."

"And it's a variety of operating styles, so it's completely unconfined to the quagmire."

"I thought that the successful operation of Mr. Su, and even after entering the market, the biggest source of profit earned basically came from the speculation of the small and medium-sized board and the gem concept stocks, from the outbreak of the market's 'growth stocks' path, and the 'growth investment logic' was recognized by many investment institutions, so ...... Inevitably, in the blue-chip direction of the main board, the perception of the so-called 'value investment' will not be so keen. ”

"Unexpectedly, this person ...... It is completely unshackled by the shackles of 'path dependence' in investment thinking. ”

"In an instant, I boldly switched the style to the blue chip of the main board."

"Mr. Su of 'Yuhang Investment' is indeed an outlier." In Liao Guanghua's emotion, Zhang Guangnian responded, "But the whole market, there is only this one, old Liao, you said, 'Compared with the control of the emotional context of the market, and even the mining of the main theme, you capital and many powerful private equity fund managers are far more sensitive than many institutions within our system' This is still biased, a little to increase the morale of others, and destroy your own prestige!" ”

"What is majestic, not majestic." Liao Guanghua smiled, "The unilateral downward trend of the market from the end of last year to the first quarter of this year, although there are macro reasons, is actually inseparable from the fact that in our system, the major major institutions trample on each other in order to ensure that the net value of fund products does not seriously retreat." ”

"Hmm!" Zhang Guangnian bowed slightly and said, "With this...... There is a certain relationship, but this is also an irreproachable thing, public funds, there is no completely closed period, the majority of fund investors in the net value of the decline, continue to redeem product shares, fund managers do not sell. ”

"Fortunately, the darkest hour is over."

Zhang Guangnian paused and continued: "As long as the market can maintain this trend and sentimental momentum, the decline in the market's fund scale will definitely be reversed, and when the asset management scale of the entire industry returns to the rapid growth channel, the incremental funds invested in the stock market will be endless, and the market will naturally be endless." ”

"So, you're still quite optimistic about the market outlook, right?" Liao Guanghua asked with a smile.

Zhang Guangnian replied: "The market is about 2100 points, I have to be optimistic, and the index has rebounded back quickly after two rapid piercing of 2000 points, which proves that the Shanghai Index near 2000 points is the limit of the bottom area of the market. ”

"Mainly, the economic growth rate on the macro level is still rising."

"Looking at the relevant economic data in the first quarter, we can clearly feel that domestic inflation has also returned to the normal range, which gives the central bank a more generous scope for monetary policy implementation."

"Macroeconomic growth, inflation is falling, and expectations of possible easing of monetary policy ......"

"These, on the one hand, will lead to the general performance of enterprises to continue to grow, on the other hand, will lead to a further increase in the inflow of funds into the stock market in anticipation of possible monetary policy easing."

"The general growth of the performance of listed companies, even if the valuation remains unchanged, will also raise the market index in disguise, coupled with the further inflow of over-the-counter funds, the market can't remember the market, and it is difficult, so ...... What reason is there to continue to be bearish in this range? ”

"It's just that although I judge that the market is in this position, it is unlikely to fall."

"But I didn't expect that the main line of the rally would be in the field of 'infrastructure'."

"Hehe, the hero sees the same thing!" After listening to Zhang Guangnian's analysis, Liao Guanghua said with a smile, "It seems that we should adjust our trading strategy a little, from the conservative stage to the aggressive stage." ”

"Enterprising?" Zhang Guangnian heard Liao Guanghua's thoughts, pondered for a moment, and said, "At present, it is only an opportunity on the left, and the opportunity on the right side has not yet been clarified. After all, from the technical side and the analysis of the chip structure in the field, the index is around 2200 points, there is huge pressure, and at 2200 points, the hedging disk is also quite heavy, and it is extremely difficult to cross the market safely in the case of less than 100 billion yuan. ”

Liao Guanghua responded: "When it really comes to the right side of the opportunity, I am afraid that many high-quality chips in the core main line are already high, although the index has great pressure at 2200 points, but as the core main line of the market, 'infrastructure', 'state-owned enterprise reform', it is obvious that the space has been opened, and the market index trend is halfway in advance. ”

"Okay!" Zhang Guangnian thought for a while, nodded and said, "You are the head of the proprietary investment department, naturally you have the final say, I just express my own market views." ”

Liao Guanghua nodded and continued to ask: "Lao Zhang, in addition to the two main lines of 'infrastructure' and 'state-owned enterprise reform', what other areas do you think have obvious differences in future expectations, as well as possible room for improvement in performance and valuation?" ”

"According to industry research......," Zhang Guangnian said, "or the small and medium-sized board, the gem of the 'emerging industries of many small and medium-cap core growth stocks' performance growth rate is fast, but also has enough industry imagination space, that is, the market is not very buyy for this piece at present, many funds have tried and tried, but the speculation can not move, and I have carefully pondered this field for a while, and found that the restriction of its speculation space is still too much speculation last year, overdrawing too much expected space, and at the same time there are too many traps, and it takes more time to digest." ”

Liao Guanghua said: "What do you mean is the main line of the follow-up market, and it may also return to the logical line of 'growth stocks' led by the small and medium-sized board and the gem?" ”

"I guess so!" Zhang Guangnian said, "After all, no matter what kind of investment method, the final landing point is expectation and performance growth." ”

"Okay, I see!" Liao Guanghua nodded.

Then, after a moment of contemplation, he walked to the office of the Proprietary Investment Department, ready to call a meeting of the department heads and product managers to discuss the trading strategy.

And with the internal trading strategy discussion meeting of China Commercial Securities.

Market hours, began to cross past 5:30 p.m., and the new Dragon and Tiger list was announced.

I saw that a total of 23 stocks were on the list today, among them, Huaguo China Railway, Kumho Group, and Beixin Road and Bridge continued to be on the list, while Huaguo China Metallurgical, Shibei High-tech, Waigaoqiao, Shanghai Sanmao, Shanghai Ganglian, Huaxia Happiness, Bayi Iron and Steel and other votes were on this year's Dragon and Tiger list for the first time.

(End of chapter)