"Open low, open low again!"

In the face of the surging market call auction, at 9:15 a.m., in Yuhang, inside Anzhao Fund, in the trading room of the Selected Mixed No. 1 Product Fund, Qin Qiuyue, who was staring at the changes in the two markets, couldn't help frowning instantly: "Only about 9% of the stocks have risen, which is also ...... It's tragic, isn't it? Last night's news released so many positive signals, but it still couldn't even withstand a peripheral trend. ”

"Mr. Qin, look at this ......situation," said Zhou Huiying, assistant fund manager and head of the trading team, "If the call auction continues like this, the major indices in the market will have to open at least one point lower." ”

"If you go this way, there's no way around it." Qin Qiuyue sighed lightly.

"It looks like the index is really going to test the 2,000-point level." Zhou Hui said, "I really didn't expect that in about a month, the Shanghai Composite Index will return to the big box of 2,000 to 2,200 points." ”

Qin Qiuyue bowed slightly, and said with emotion: "Yes, when everyone thought that the Shanghai Index had broken through the big box of 2,000 to 2,200 points and achieved an effective breakthrough, I didn't expect it to fall back again, almost three years, right?" The big box range of 2000 to 2200 points of the Shanghai Composite Index is really like a strong magnet, sucking the index into this range, no matter how it breaks through, it ultimately fails. ”

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"However, the index has been in this large box shock range for nearly three years, which is enough to fully show that this range is the extreme bottom of the market." Zhou Hui took over and said, "I think that when the index finishes this wave of trend and the panic sells out, we should be able to increase some chips at the lower edge of the shock range of 2,000 to 2,100 points." ”

"Don't continue to be bearish?" Qin Qiuyue said in surprise.

Zhou Hui responded: "The index has reached the bottom of the shock range, even if the current position, from the bottom of 2000 points is only less than 10% of the decline, although the performance of the disk is still very bad, but the 2000 points below the index are likely to be able to hold on, here...... It is indeed not advisable to be overly bearish. ”

"I still don't think I'm optimistic!" Qin Qiuyue said, "At the position of 2200 points, the fall was too sudden, it can be said that there is basically no resistance, and it is directly killed, and the follow-up index is only more than 100 points deep from the bottom of the 2000 point box." ”

"With this depth of space, it is difficult to say whether it can fully digest the hedging disk that has been accumulating since around 2500 points, and clear the panic selling chips in the market."

"And ......"

Qin Qiuyue paused and continued: "The market is in this position, there is no obvious shrinkage! ”

"Hmm!" Zhou Hui responded, "The amount of energy is indeed a problem, it seems that we have to wait for this wave of volume, the market will shrink again, and there may be an obvious bottom signal." ”

The continuous volume plunge trend, if the index will bottom out at this position.

Not only did Qin Qiuyue not believe it, but she also didn't believe it.

What's more, according to her observation, the current market has not been born in a 'big main market' that can guide positive changes in market investment sentiment and confidence, that is, there is no continuous money-making hotspot, which is ...... The market simply cannot attract incremental funds from outside the market, and without incremental funds entering the market, in the face of continuous sell-offs in the market, the amount of funds in the market will not be able to bear it, and it will be difficult for the natural index to bottom.

Of course, although she agrees with Qin Qiuyue's view that there is no signal of a bottom in the current index.

But at the same time, she also believes that the index is likely to be able to maintain the characteristics of the bottom of 2,000 points, and it is able to digest this extreme panic selling sentiment in the depth of more than 100 points in the future.

"Let's continue to wait patiently!" Qin Qiuyue thought for a while and said, "After we suffered a setback in the layout of the 'military industry' line, even if we have completely reduced the fund position to a safer position at this moment, the net value of the fund is still relatively serious in this wave of market decline, which makes us lose a certain trading initiative and part of the anti-risk ability, so we can only wait for a clearer opportunity to invest in the right direction, and we can no longer take the risk of taking the market's 'flying knife'." ”

See the post-holiday market performance pattern.

Qin Qiuyue still feels very correct and lucky for the trading decision of decisively reducing positions before the holiday and desperately stopping the losses of the chips held by the 'military industry', otherwise, she would not be able to look at the current market trend calmly at this moment.

In the midst of a brief discussion between the two, the market trading time had reached 9:17.

I saw that after a short two-minute initial call auction, the market pattern of the two markets has shown a relatively clear path.

The main lines of the market, various industry plates, and concept plates, yesterday in the afternoon market, once supported the market rebound, and the relatively strong performance of the "infrastructure", "state-owned enterprise reform", "military industry", "Internet finance" several main lines, and related industry plates, concept plates, today in the initial set bidding stage, still maintain a relatively strong state, ranking among the top of the market's industry plates, concept plates.

Among them, real estate, building materials, public transportation, high-speed rail, several 'big infrastructure' sectors, stimulated by the good news released by yesterday's news, have become the only few sectors that can still maintain the red plate in the initial collective bidding stage of today's market.

In addition to the relatively strong 'infrastructure', 'state-owned enterprise reform', 'military industry', and 'Internet finance'.

The main lines of 'consumption', 'medicine', 'finance' and 'gold' in the defensive field are not so weak, and the panic selling on the disk is limited.

As for other main areas such as 'venture capital', 'restructuring backdoor', 'ST plate' and other main areas where yesterday's trend was relatively weak, as well as 'mobile Internet', 'smart phone industry chain' and other 'growth stocks' main line areas, or coal, nonferrous metals, petroleum, chemical and other 'cyclical stocks' with poor fundamentals and no speculation expectations, or traditional agricultural main areas such as agriculture and animal husbandry and animal husbandry, under the increasingly sluggish market investment sentiment and panic selling, the disk performance is quite ugly, and the decline is not small.

The performance of the main core stocks in the two cities, as well as popular stocks.

'Infrastructure', 'state-owned enterprise reform', 'military industry', 'Internet finance' and 'Internet finance' are the core constituent stocks in the main areas, especially the medium and large-cap stocks with relatively abundant liquidity, such as Huaguo Railway Construction, Huaguo Communications Construction, Huaguo Metallurgical, Huaguo Construction, Gemdale Group, Kewan Real Estate, Poly Real Estate, Huaguo Heavy Industry, Huahang Electromechanical, Huahang Optoelectronics, Hangfa Power, Huaguo Great Wall, Hangfa Technology, Oriental Fortune, Hengsheng Electronics, Flush ...... and many other stocks, the performance is relatively good, either slightly higher, or flat and slightly lower, the signs of panic selling on the disk, compared with the entire market, is not obvious.

Of course, in this field, there are also stocks that have been fully abandoned by funds and have extremely weak trends.

Such as the overhyped Beixin Road and Bridge, Shibei High-tech, Shanghai Construction Engineering, Beijiang Jiaotong Construction, Huaxia Fortune, Kumho Group, ...... and other stocks, they have shown a sharp lower opening trend, on the disk, the signs of panic selling are still very obvious.

A number of stocks in the field of weak main line plates, in addition to the obvious good support, other stocks, are obvious sharply low opening trend, on the disk, the signs of panic selling are very serious, among them, yesterday once in the end of the almost staged the shell resource concept stock 'Cologne shares', today's opening, in the early stage of the call auction was directly 100,000 hands of panic selling, pressed to death on the fall limit, resulting in yesterday rushed into the speculation of the vast number of retail investors, all were suffocated.

As for the performance of the first batch of five new stocks listed today after the reopening of the market IPO.

Although the vast majority of investors in the entire market have previously expressed their intention to boycott IPOs, give up subscribing for new shares, and do not undertake the disk of new shares, but on the day of listing, the five stocks are still brushing the daily limit, and have walked out of the immeasurable daily limit of hundreds of thousands of huge buy orders.

Overall, in an extremely weak atmosphere of market sentiment.

Judging from the performance of the initial call auction in two minutes, the preference for the main funds inside and outside the market is still in the direction of the main board, and stimulated by the good news released by yesterday's news broadcast, the two main lines of the market, "large infrastructure" and "state-owned enterprise reform", independent of the overall market trend, are significantly stronger than the performance of the market, and are becoming more and more obvious.

"Crisis, crisis, crisis and opportunity, are also on the front line!"

At 9:18, inside the same Yuhang, Minghui Capital, and in the main fund trading room, Xu Zhongji looked at the changes in the two markets and said with emotion: "It is infinitely dangerous, but it seems that there is a glimmer of opportunity." ”

"The opportunity that Mr. Xu refers to is the two lines of 'infrastructure' and 'state-owned enterprise reform'?" He Hong, the fund manager standing next to Xu Zhongji, asked.

Xu Zhongji bowed slightly and responded, "What do you think?" ”

He Hong thought for a while and said: "I think we can take a look after the official opening, the two lines of 'infrastructure' and 'state-owned enterprise reform', although the news has a new positive, but the market as a whole is too bad after falling below the 2200-point mark. ”

"In this case, the two main lines of 'infrastructure' and 'state-owned enterprise reform' want to lead the market and get out of sustainable money-making opportunities, which is quite difficult!"

"You must know that these two main lines are the main lines of the market with a relatively large volume."

"Once you want to get out of the continuous market, the incremental funds consumed and the funds to undertake are not a small amount, and the current market, the funds in the field are showing a comprehensive outflow state, I am afraid it is difficult to support the market undertaking of these two main lines, in other words...... With the help of the good, it is easy to take a short rebound, but it is too difficult to reverse. ”

"Even if Mr. Xu insists on being optimistic about these two lines......"

He Hong paused and continued: "Then we have to wait for the opportunity on the right side to come out, and the risk of our intervention will be significantly lower." ”

Xu Zhongji bowed slightly, and responded: "What you said, logic and reason, there is no problem, but judging from the performance of the disk at the moment, if the market is destined to reverse in the future, the two lines of 'infrastructure' and 'state-owned enterprise reform' are undoubtedly the areas with the strongest current expectations, the most sufficient good news, and the most continuous speculation value and investment value." ”

"And ......"

Xu Zhongji thought for a while and continued: "The index did fall below the 2200-point support line, but at the same time, it is not far from the 2000-point position below. ”

"Moreover, the negative impact of today's IPO resumption in the market is in the case of the first batch of new shares listed."

"I think it's basically landed."

"The follow-up change in expectations, in theory, should be a rebound trend, which can be expected."

In fact, in his opinion, the current market trend, serious analysis, long and short form, quite divided, on the one hand, everyone knows that the Shanghai Index is not far from the bottom of 2000 points, should not be so bearish, on the other hand, the Shanghai Index has completely lost the support of 2200 points, and at the same time, the peripheral trend has become bad again, affecting the market investment sentiment, and continues to slide into the abyss, which drives everyone to desperately sell on the disk to kill the fall, irrationally trying to be bearish.

"What does Mr. Xu mean...... Can we pick up some 'flying knives' in the main line of infrastructure and state-owned enterprise reform here? He Hong listened to Xu Zhongji's analysis and asked.

Xu Zhongji bowed slightly, and replied: "I think it is appropriate to take a point, our fund position is not heavy at present, take a little chip here, even if the follow-up market continues to fall, the two lines of 'infrastructure' and 'state-owned enterprise reform' still can't come out, then it's too late for us to decisively stop loss and change the direction of investment." ”

"In the same way, if the market really comes out of the trend that exceeds expectations."

"The two lines of 'infrastructure' and 'state-owned enterprise reform' are really reversed here, so we have a serious shortage of positions in these two directions, and it will be very uncomfortable in the future."

"On the whole, we can bear the risk of attacking, so there is no need to hesitate too much."

"Okay!" Seeing that Xu Zhongji had already said this, He Hong retained his analytical opinions, listened to Xu Zhongji's suggestion, and quickly turned around and instructed the traders in the trading room to change their trading strategies, so that everyone can undertake some core constituent stocks in the main line of 'infrastructure' and 'state-owned enterprise reform' at a low level.

And with his trading orders......

At this time, the market trading time has quickly crossed 9:20.

I saw that although the two cities still continued the previous performance pattern of the main lines, various industry sectors, and various concept plates, on the whole, after a large number of false pending orders were cancelled between 9:19 and 9:20, the market panic and selling were aggravated, resulting in no industry plates and concept plates in the two cities that maintained red plates.

Then, at 9:21, the two cities continued to decline, "venture capital", "restructuring backdoor", "ST plate" and other main line concept plates that were completely abandoned by the main funds of the market, all of which opened more than 2%, and in the direction of small and medium-sized boards and gems, the industry plates and concept plates of "growth stocks", such as "Apple concept", "Internet software", "Internet application" and other sector indices also fell by more than 1.5%.

At 9:22, the 'ST sector' once again surpassed 7 stocks to fall to the limit, and a wave of falling limits emerged.

At 9:23, the panic selling sentiment is still continuing, and the active funds inside and outside the market are further converging in the defensive sectors such as 'consumption', 'medicine', and 'finance', as well as the 'big infrastructure' and 'state-owned enterprise reform' fields that have obviously stimulated the news last night.

At 9:24, under the huge selling pressure of the entire market, the overall pattern of the two cities continued to decline, and even the two major plate indexes, which led the two cities and ranked first in the list of conceptual sectors and industry sectors in the two cities, the two major plate indices of "building decoration" and "high-speed rail" also expanded to below 0.5%.

Finally, when 9:25 a.m. arrived, the call auction between the two cities ended.

I saw that the Shanghai index was fixed at 2162.79 points, a decline of 1.26%, of which the Shenzhen Index and the ChiNext Index fell 1.59% and 1.71% respectively, and through the overall performance of the index, the two cities are still a pattern of Shanghai strength and deep weakness, the relatively good liquidity of medium and large-cap stocks fell not very much, and the relatively illiquid small-cap concept stocks, especially those with no expected performance support, no good concept story to tell, and the so-called ' that does not match the popular main line of the market Three-no' small-cap stocks fell particularly badly.