As for the other main concept sections......

The two over-falling and unpopular sectors of "coal" and "non-ferrous metals", which led the rise, performed extremely strongly this morning, and at the close of trading at noon, they rose by more than 1.5%, becoming the most important force supporting the market; "Military industry", "medicine", "consumption", "petrochemical" and other main line fields basically follow the fluctuations of the market, and occasionally major funds participate in the undertaking, but the overall trend is not strong, which can be described as a pan-good.

Yesterday, the three hot main lines of "infrastructure", "state-owned enterprise reform" and "Internet finance" once led the market.

Today, it fell into the trend of adjustment, and in the morning performance, it showed a significantly weaker trend than the broader market, which made the investor groups who undertook these main lines yesterday once again show a disappointed look.

Of course, the market index has the highest weight attribute, and in the past few days, it has also led the main line of "big finance".

Today's performance is also relatively sluggish, whether it is securities, insurance or banking sectors, are significantly underperforming the Shanghai Index, and even among the three, the relatively resilient securities sector, near noon, also killed a wave, the plate index fell, from 0.2% to 0.3% of the slight decline state, to 0.56% of the decline.

In the face of such a noon closing situation, the majority of investors in the market are relatively disappointed.

After all, the trend of the external market is so good, and at the same time there is the good news of the "Shanghai-Hong Kong Stock Connect", the index is only slightly rising, and the hot spots of the entire market are rotating very fast, and there is no continuous money-making effect for more than two days The hot sectors can participate, this trend is ...... It can be said that it is seriously lower than the expectations of the majority of investors in the market.

Of course, for some investors who lurk in the field of "non-ferrous metals" and "coal" in advance.

After they received the market dividend in the morning, they were still very excited and happy.

It's just that this excitement and joy, no one knows how long it will last, after all, according to the previous market performance, no matter how hot the hot plate that led the rally that day is, it is just a one-day market trend in the end.

"Hey, this rebound market, it still doesn't feel like there's too much sustainability!"

At 12:35 p.m., Yu Hang, Minghui Capital Company, in the main fund trading room, has finished eating, returned to the trading room, and completed a brief review He Hong, quite helplessly said: ""Nonferrous metals" and "coal", the two hot spots in today's market, although the performance in the morning is hot, but the sustainability is still doubtful, and once the market expectation is formed, it is not easy to say...... In the afternoon, the market has to dive."

"It can't be said that there is no continuity at all." Behind He Hong, Xu Zhongji, general manager of the company, said, "Whether it is the main lines of "infrastructure", "state-owned enterprise reform" and "Internet finance" performed yesterday, or the main line of "military industry" and "big finance" performed the day before yesterday, or the main line of "coal", "nonferrous metals" and "petrochemical" today, in fact, in essence, they all revolve around a "super falling rebound" market, but the market rotation of each main line and each sector is too fast, which makes people feel dazzled and unable to grasp the key points."

"Indeed, the recent market hotspots have been revolving around the "over-falling rebound". He Hong said, "But just like Mr. Xu said, the market rotation of various main lines and sectors is too fast, which is dazzling, and it is impossible to grasp the key points at all, and this is ...... That's the biggest problem."

"Because the market rotates too fast, it can't be grasped at all, it can't be predicted, and it can't be predicted."

"It is unpredictable, it is difficult to grasp, and there is no sustainability in seizing it, which is very dampening the hype in the market."

"Now the market revolving around the "over-falling rebound" can also be said to be a "one-day" market, and if it continues like this, it is estimated that the follow-up will only be a "half-day" market."

"Because when the market expectation of "one-day trip" is formed, once it is formed in the minds of the majority of investors in the market."

"Then the main funds participating in the market speculation will definitely take advantage of this expectation to carry out a new round of front-running, which is rising for half a day

After that, most of them will start to kill and reap."

"Hey, in fact, the core hype hotspot of "over-falling rebound" is the worst hype hotspot in the market."

"Because the market hotspots and stocks that are in line with the "over-falling rebound" are poor in terms of fundamentals, news, sentiment, and capital, the logic of continuous speculation is lacking, and the natural expectation is not high.

"To be honest, the main funds in the market choose this direction to make a market."

"In my opinion, it's just a helpless move."

"It also proves that in addition to this specious hot spot in the market, other market main lines are more difficult to speculate."

"Of course, this also shows that the current market adjustment is not over at all, and the emotional and financial aspects have not recovered at all, and they cannot support the continuous market speculation of the main line."

"You're right!" Xu Zhongji responded, "Fortunately, we didn't have a large-scale increase in the chips related to the two main lines of "infrastructure" and "state-owned enterprise reform" yesterday, otherwise we would be very passive today."

"It's strange to say......

Xu Zhongji paused and continued: "This round of adjustment of the Shanghai Composite Index has fallen all the way from about 2,500 points, and now this point range can be regarded as a drop of almost 10%, and there is not even an obvious and effective sustained rebound market, which is in stark contrast to the trend at the beginning of the month and the previous month.

He Hong thought for a while and said: "Not only is it the bearish suppression of the IPO restart, but the market can go so weak, I think the main thing is that the market tone in the early stage is too high, everyone's expectations are too high, and the regulator changes face too quickly, resulting in a collapse of confidence, and finally it has become what it is now."

"But ......"

He Hong thought about it seriously for a while, and said: "On the surface, the market is quite pessimistic, but in fact, whether it is the macro side of the policy, or the capital side, in fact, there is a significant improvement, this round of market trend from April to early May, it is obvious that the amount of market funds can be stimulated, much faster and more fierce than before, and even if the trend is very bad now, the market continues to fall, and the amount of energy has been maintained above the 100 billion mark."

"It's the emotional side, it's hard to solve!"

"In the financial trading market, confidence has always been something more valuable than gold."

"At this stage, if we can really solve the problem of serious lack of confidence in market investment, then all the problems can be easily solved."

"The so-called market confidence is fundamentally fluctuating with the continuous money-making effect of the market." Xu Zhongji said, "As long as there is a money-making effect, the confidence of market investment will naturally recover slowly, and if you want to continue the market-making effect, in my opinion...... It is still necessary to cooperate with the news, policy, and fundamentals of a certain direction of the market to play a wave of the expected effect of the main line market!"

"Yes!" He Hongying said, "In fact, the biggest difficulty in the current market is that the active main funds in the market have tried to do many directions with the cooperation of various market news and various favorable policy stimulus, but they have not succeeded."

"The market is ...... at this time"

"It is extremely difficult to create a grand market line like "infrastructure" and "state-owned enterprise reform" in April and May, and then gather the continuous money-making effect of the market, so as to reverse the investment sentiment and investment confidence of the market, and it is completely difficult to find the direction."

"Moreover, even if there are main areas where the fundamentals are excellent, the news side also cooperates."

"After the intervention of the main funds in the first wave of speculation, it has not been unanimously recognized by the majority of investors in the market, and it is impossible to speculate on the relay market, unable to open up the market space, and naturally unable to make money continuously."

Xu Zhongji bowed slightly: "We have found the crux of the market problem, and the key is...... How to solve this crux of the problem and make a reasonable trading strategy in advance, so as to take advantage of the market situation."

"It's hard!" He Hong smiled bitterly and said, "I have studied several ways

But I don't think it's right."

"What directions have you studied?" Xu Zhongji asked.

He Hong responded: "Finance, the "electronic consumption" field that was hyped last year, as well as the "infrastructure" and "state-owned enterprise reform" fields that are still in the adjustment stage."

Xu Zhongji frowned slightly, and said, "These lines, the market has verified them recently, and at present, there are really no obvious opportunities."

"Hmm!" He Hong nodded, "If you can't find the direction, then you can only wait."

"When?" Xu Zhongji asked.

He Hong responded: "Wait until the market "half-day tour" market can not be maintained, and all the main lines of the market will enter the undervaluation water mark, and there is no main line of the market that can lead the market to break through, so it can only wait for the market to go to an extreme, and the moment when the valuation and emotional rebound will be tightened again."

"It's stupid." Xu Zhongji said, "I'm thinking, if I were the president of Yuhang Investment, what would I do at this moment?"

He Hong thought for a while and said, "Judging from the deeds on the list of dragons and tigers in the two cities, the position of the main fund in charge of Mr. Su should have been reduced a lot, but judging from his urgency to establish a third fund, he seems to have obvious expectations for the market."

"That's why people can't understand it!" Xu Zhongji said.

"Mr. Xu, my suggestion...... I'd better wait." He Hong pondered for a while before saying, "The current asset management scale of the "Yuhang Department" is not small, and what they use is still an ordinary brokerage business department trading seat, tens of billions of funds in and out, in the market with a daily turnover of only 100 billion, it is difficult to hide the whereabouts, our asset management scale is at least an order of magnitude smaller than theirs, since we are not sure about the direction at present, we can wait for the other party's fox tail to be exposed, and then follow the trend, or refer to the transaction is not too late."

"Good!" Xu Zhongji responded.

He also feels that the current market rebound trend is very weak and the sustainability is very poor, and the market is likely to still not be adjusted.

"The plan to increase positions, in such a market performance, naturally needs to continue to be shelved." After a pause, Xu Zhongji continued, "The key is...... Are we going to continue to reduce our positions?"

He Hong pondered for a while and said: "Since we expect the market adjustment to be over, then my suggestion is to continue to reduce, at least reduce the fund position to a real defensive range of 30% to 40%, and set aside close to 70% of the cash, which can be regarded as truly safe, and at the same time, we can make all preparations for our subsequent immediate positioning."

"Okay!" Xu Zhongji glanced at the time that had been swiped to 12:57, and answered again.

Immediately afterwards, he turned his attention back to the trading board of the two cities.

As the two finally decided to reduce their positions according to the original plan, they watched the market coldly and did not participate in any rebound in the market at the moment, and the last three minutes were fleeting, and the market ushered in continuous auction transactions again.

I saw that the two major industry sector indexes of "nonferrous metals" and "coal", which had just opened and were once popular with active main funds in the market in the morning, ushered in a rapid dive, and the core constituent stocks related to the sector suffered a relatively concentrated huge amount of heavy selling in an instant.

At the same time, due to the "non-ferrous metals" and "coal" two major market hotspots diving.

The broad market index, which was originally in a good trend, also began to be unable to support, and the Shanghai Composite Index fell directly back to the opening point from near the 0.5% gain.

"Damn, it's poisonous! That's the start of diving?"

Seeing that the market was in a more hot mood at noon, not only failed to continue the upward trend, but directly dived back at the opening, Su Yu was in the main group of Yuhang tour capital, for a time, in the morning participated in the "coal", "non-ferrous" hot speculation of the tour capital, have been unable to help complaining.

"Hey, it's really weak, I thought that the rebound of "coal" and "non-ferrous metals" could survive today, but I didn't expect it...... The harvest began in half a day."

"I have to say, the current market situation is really difficult to do!"

"The market of "half-day tour", you tell me, how to do it? Anyway, hit today"

Pingmei Energy", no matter from which point of view, there is no problem, but I never expected it...... Such a hard board in the morning was smashed just after the opening of the afternoon market, and the funds lurking inside this check are simply sick, right?"

"It's too difficult, I really shouldn't have taken it this morning."

"Losing money, no matter what you do recently, you only have to lose money."

"Hey, it looks like it's time to rest, damn it, this ghost market, the speed of rotation, it's so dazzling, I can't understand it."

"What the hell?" Venture capital: "Is there a rise?"

"The funds in the market, it feels like it's all speculation, right?"

"No matter how these funds are speculated, anyway, two words, if you don't follow, it's over, this time ...... An empty position is better than anything else."

"It's true, the short position in the past two weeks has outperformed 98% of investors in the market."

At a time when the news in the group was rapidly refreshed, and many elders in the group complained one after another......

However, in just a few minutes, the hot spots in the market have changed again, only to see that in the "non-ferrous metals" and "coal" two popular sector indices gradually falling, the "venture capital" concept sector, and its related industry sectors, began to rise rapidly, and instantly climbed to the top of the two cities' rise list!