And under the influence of the continuous pursuit and scrambling of these main institutional groups.

The main line of 'big finance' continues to soar, especially in the securities sector and the Internet finance sector, which have risen further, and the core stocks of the corresponding sectors have also been attacked by concentrated active buying.

At 9:51, when the "Western Securities" continued to fluctuate and attack, the stock of "Oriental Securities" suddenly exploded in a straight line and quickly rushed to the price limit.

At 9:52, after the explosion of more than 1 billion, 'Oriental Securities' was stuck' in the 'Western Securities' and preemptively sealed the board.

At 9:53, 'Orient Securities' closed the daily limit, and the stocks in the entire securities sector also rose rapidly under the drive of the 'Oriental Securities' stock limit.

At 9:55, less than half an hour after the opening, the turnover of the entire securities sector has skyrocketed to more than 15 billion...... The turnover of many stocks in just 20 minutes has also skyrocketed to more than 1.5 billion.

At 10:01, after the 'flush' strong seal board, 'Jinzheng shares' hit the price limit and sealed it.

At 10:05, Sunline Technology also hit the price limit upward in the form of catching up.

And at the same time.

At a time when the indices of the securities sector and the Internet finance sector have crossed the 2.5% intraday growth mark.

The two major market-weighted industry sector indexes of banking and insurance also rose rapidly by more than 1.5%, and the core weighted stocks in the sector have exploded.

And the Shanghai Composite Index is driven by the strong horizontal trend pattern of 'big finance' continuing to attack and fight hard, opening high and going high.

At this moment, it is also quickly crossed the 1% intraday growth mark, and once again hit a new high of the rebound, as well as this year's annual high position, there is no sign of continuing to fall and pull back, or with the market support of the core main line of the weight of 'big finance', the index cannot fall at all.

Of course, at a time when 'big finance' continues to riot strongly.

The active capital group in the entire market continues to be siphoned by the main line of rioting 'big finance'.

The core main line areas such as 'science and technology growth', 'big consumption', 'non-ferrous cycle', 'infrastructure', and 'military industry' have not been fully driven by the main line of 'big finance', and are still passively following the index, showing a weak rebound trend on the disk, and there is no trace of the core main funds concentrated on pulling the market and grabbing funds.

Overall, as the market continues to advance in trading hours.

The pattern of the two markets has not changed in terms of hierarchy.

The core main funds of the entire market, as well as the active capital groups, are still focused on the main line of 'big finance' and are making deals around the main line of 'big finance'.

"It's really a strong man!"

Seeing the changes in the market of the two cities, as well as the strong situation of the main line of 'big finance', at 10:10, in a private villa in Yuhang, Liu Changsong, the trader of the trading seat of 'Yuhang Beiyuan Avenue', squinted at the changes in the market of the two cities, and sighed: "The line of 'big finance' in the market is estimated to continue for a period of time, and the trend is ridiculously strong. ”

Zhang Jianping, who was sitting next to Liu Changsong, heard his words, smiled hehe, and said: "The expectation of the 'bull market' is basically a clear card, following the logic of the 'bull market', the line of 'big finance', there is no reason not to rise. ”

"That's right." Liu Changsong nodded and continued with a smile, "It is strange to say that before the Shanghai Index 3,000 points, the valuation and expectation of the main line of 'big finance' were already the core main line of the entire market, which was relatively cost-effective, but the main funds from all walks of life did not form a consistent joint force on this core main line, and there were no large number of major institutional groups in this direction, large-scale increase in positions."

In the end, it was the capital of the 'Yuhang Department' that increased its position by billions in a row, pulling out this big main line.

It also kicked off the bull market. ”

Zhang Jianping laughed and said: "How do you say a saying? "Once bitten by a snake, ten years afraid of the well rope", the line of "big finance" is really bad in the early stage, and the "national team" big fund is also heavy in this field, even if there are certain expectations, even if a large number of core stocks in this field have fallen to around 0.5 times the net asset value, everyone is still a little worried that once the direction of the position weight and the center of gravity of the position are turned to this main line area, it will be suppressed by the "national team" big fund and cannot push up the market.

Take the previous historical trend pattern of this major main line.

It's not like nothing like this has happened before.

Moreover, the main line of "big finance" in the early stage, before the Shanghai Index hit 3000 points, the fundamentals have not completely changed, first of all, the direction of the central bank's monetary policy is not clear, and we are not sure whether the subsequent monetary policy will continue the previous tightening strategy, or turn to easing.

Secondly, the financing balance of the two cities, as well as the turnover of the two cities, did not come up at that time.

In that case, it is also very normal for everyone to have doubts and worries in their hearts.

It is the main capital of the 'Yuhang Department'...... It is really full of courage, seizing the most critical opportunity to make a market, forcibly opening the curtain of the bull market, and playing the hot money-making effect of the entire main line of 'big finance'. ”

"With 'big finance' as the core driving force of the market......," Liu Changsong said, "it is estimated that the index will not stop for a while." ”

Zhang Jianping smiled and responded: "The bull market trend of the whole market has become a bull trend, although in this range, the long and short divergence is quite large, but in the over-the-counter capital group continues to enter, and the central bank's monetary policy turns, under the transformation of the overall capital side, the index wants to fall back, it is basically impossible."

However, although it is said that various policy benefits on the macro side are emerging.

However, in the major industries of the current market, except for the fundamental situation of the main line of 'big finance', which has undergone a significant reversal, and the future expectations are still increasing, the expectation gap is still very large, and the other core main lines of the market are ...... Like the main line of 'scientific and technological growth', as well as the main line of 'infrastructure' and 'military industry' in front, I am afraid that it has not yet reached the time of clear main rise, not to mention the main line areas of 'big consumption', 'non-ferrous cycle', and 'petrochemical', which are strongly related to macroeconomic recovery.

Therefore, at this stage, even though the overall investment sentiment and capital have changed.

However, it is certainly difficult for the main sectors of various industries in the market to form a more consistent bullish resonance market.

If the various industry sectors cannot form a consistent bullish resonance market, the long and short divergence of the market will always exist, and the general market trend should be difficult to continue for the time being. ”

"What do you mean is that the next market trend of the market will still be dominated by the divergent market, right?" Liu Changsong responded with a smile, "And it is a market rotation with the main line of 'big finance' as the core, or a differentiated market trend with the development of plate rotation." ”

Zhang Jianping nodded and said, "That's pretty much what it means." ”

"I think this is a good thing for the current market." Liu Changsong said with a smile, "The so-called 'speed is not reached', the market brought by forced pulling and forced stimulation will not last long, and it is difficult to have strong support.

After all, whether it is an emotional reaction or a financial reaction.

It takes time to ferment slowly.

And as you just said, in this range of the index, in fact, the historical hedging is very heavy.

If this trouble is not solved and the index is forcibly marked, then ...... The foundation of the bull market is also not solid, and maybe the market will have to fall back miserably in the future to continue to consolidate the core support position of this bull market. ”

"That's what it means." Zhang Jianping bowed slightly, "Therefore, at this stage, if the regulator is smart, it is time to let the market react and develop on its own, and can no longer continue to add fuel to the fire, forcibly stimulate the investment sentiment of the market, and forcibly push up the market's market height and valuation space." ”

"It's obvious to the regulators that they understand this, right?" Liu Changsong said, "Obviously, the current set of regulators is much smarter than the previous team in terms of market maintenance, and in the past year and a half, many policy effects are obviously more useful than before." ”

"That's right!" Zhang Jianping nodded, having to admit it.

Liu Changsong thought for a while, and then said: "However, Lao Zhang, the line of 'big finance', so continuously forced to rise, once a large number of incremental funds chasing high and grabbing funds, as well as the enthusiasm of the main institutional groups declined, the backlog of profit orders and the hedging chips deposited in this range surged out, and the adjustment was also very violent!" ”

"It's really time to adjust, the trend slope is such a steep upward trend, the adjustment must be violent!" Zhang Jianping said, "However, according to the current expected difference of the main line of 'big finance' and the essence of the fundamental reversal, as well as various macro news, as well as the continuous influx of over-the-counter incremental funds, the main funds of institutions that have increased their positions in large quantities ...... the line of 'big finance', I am afraid that there is still a long way to go from adjustment." ”

"You reck...... How much room is there for this kind of short-forcing rise? Liu Changsong asked.

Zhang Jianping stared at the plate, pondered for a while, and responded: "Not sure, but I think that before the central bank officially makes the expected interest rate cut and RRR cut, the 'big finance' line continues to be short, and it should be able to continue.

The line of 'big finance' should fully reflect the expected difference of the first wave.

I think the time span of the market's rise will take more than a month.

It does not seek to benchmark the continuous rise of the two core main lines of 'infrastructure' and 'military industry' in the early stage, but at least there is more than double the space. ”

"Hmm!" Liu Changsong nodded, "I also think that when the macro news is over, the biggest good news will land, and the market of the main line of 'big finance' will come to an end, before that...... It's true that you don't have to worry too much, it's just ...... The current market volume can perform, with the continuous surge of 'big finance', in the face of the extremely heavy hedging volume in this range, as well as the suppression of short-term profit orders, I still don't feel enough! ”

Zhang Jianping smiled and said: "Don't worry too much, the expectation of the 'bull market' and the emotional reaction are actually still deepening, and under the continuous money-making effect that the market is still hot, the incremental capital groups outside the market, as well as the risk appetite of investors in the market, are continuing to rise."

The continuous entry of incremental funds from the OTC will push up the total number of active funds in the market.

The increase in the risk appetite of on-exchange investors will lead to a further increase in the financing balance and the growth of the over-the-counter capital allocation business.

In any case, as long as the expectation of a 'bull market' remains, and continues to deepen.

Under the influence of these factors.

The current active market turnover of about 600 billion yuan is not a high point at all, and the turnover of the next two cities definitely has a large room for growth.

Now, when everyone saw the financing balance approaching the trillion mark, they all showed shocked looks in their hearts.

I'm thinking...... When the time comes, when the intraday turnover of the market breaks through to the trillion mark, what kind of look will everyone have? ”

"Intraday turnover exceeded one trillion?" Liu Changsong was shocked, "This should be ...... It's hard to achieve, right? This is only possible if the market turnover continues to double. ”

Zhang Jianping said with a smile: "It's been almost 7 years since the bull market in 07, right?" In recent years, the growth of the country's economy has increased the volume of M2...... Once the central bank's monetary policy turns, there will be no shortage of funds inside and outside the market, not to mention that there is now a big killer of financing, as long as the investor group in the field is willing, all kinds of leveraged funds will continue to pour in.

Moreover, the greed of human nature is endless.

When making money in the stock market becomes easy.

How many investors can resist the temptation, can be very calm to keep the trading risk awareness in their hearts, will not choose leverage to increase the scale of their investment funds, to maximize the market excess profits that seem to be easy to obtain? I think...... Not many people can resist this temptation, right?

So, I judge......

Since the regulator has opened the floodgates of leverage, there is no strict control over the entry of leveraged funds into the market.

Then, under the endless greed of human nature, the expectation of the bull market is getting stronger and stronger, the market is making money more and more intensely, and it is getting easier and easier to make money.

The turnover of the two markets will definitely go up quickly.

In the future, seeing the intraday turnover of trillions is really not something completely unachievable. ”

Liu Changsong heard Zhang Jianping's quite confident analysis, pondered for a while, smiled, and said: "Okay, I believe in your judgment, if you want to say that in the entire market, for the grasp of the market and the change of trend patterns, except for the 'Yuhang Department' that has never met Mr. Su, I am afraid it belongs to Lao Liu." ”

"I don't dare to call myself that big." Zhang Jianping said with a smile, "There is a sky outside the sky, and there are people outside the world!" ”

During the discussion between the two, the trading time of the market is still moving forward rapidly......

And with the passage of time, the main line of 'big finance' is still getting stronger and stronger.

When the time passed 11 o'clock in the morning and entered the last half hour of the trading session at noon, I saw that the index of the securities sector and the Internet financial sector had risen by more than 3%, and the turnover of the two cities had reached around 310 billion.

As for the other core threads of the market.

Driven by the strong trend of 'big finance', although it has not stepped out of the independent trend of a fierce attack by the main funds such as 'big finance', it is still constantly changing hands, shocking upward, no matter how serious the disk selling, it cannot suppress the pace of the bulls. (End of chapter)