"Isn't it?" Fang Xinsheng smiled and said, "I thought that before the 'Shanghai-Hong Kong Stock Connect' was good, the market would be relatively high, and then when the 'Shanghai-Hong Kong Stock Connect' was good, I could harvest the 'southern system' capital groups that poured in, but they forgot ...... What is the current market stage?

It's a bull market!

Moreover, the market has developed so far, and the basic logic and expectations of the bull market have become more and more solid in the hearts of the majority of investors inside and outside the market.

Since it is a bull market, the main line of 'big finance' is the direction of speculation on the core main line that the market cannot avoid.

At this time, they sold the chips of the two core main lines of 'big finance' and 'big infrastructure', and went to do a market rotation of high and low switching.

It's just a matter of giving away the chips that originally had a cost advantage.

In the market bull market, the basic investment logic and expectations, the period when the madness is fermented in the investor groups inside and outside the market, that is, the early stage of the bull market.

In the face of countless incremental capital groups flocking to the main line of 'big finance' inside and outside the market.

It can be said that the core main line of 'big finance', regardless of the current position, is simply not there room for downward adjustment.

And in the face of the core main lines of 'big finance' and 'big infrastructure', which have the hardest basic logic and the strongest future expectations, as long as the expectations of these two core main lines have not been speculated by the main funds of all walks of life, the majority of retail investors dare not follow the market at all, and the continuous imbalance of long and short forces on the disk.

Then, the market of these two core main lines is under the logic of increasingly strong 'bull market' expectations.

It simply doesn't stop.

And the group of funds gathered in these two core main lines will not be dispersed to other main line areas to do business.

So...... In my opinion, funds will only continue to gather in this direction when the main line of "big finance" is not fully realized, and the future expectations are still very strong.

These self-righteous people thought that they would take advantage of the good shipment and smash the plate down.

Then take advantage of this to harvest the influx of 'southern system' funds, in an attempt to create a capital group for the main line of market 'high and low switching'.

If nothing else...... There is a high probability that the chips sold today will be recovered at a high price. ”

"I also think that the main line sectors such as 'petrochemical, large consumption, non-ferrous cycle, coal ......' that lack fundamental reversal and future expected support have no sustained market development momentum." Mu Zhengxing took over and said, "Today's plate is obviously very awkward. ”

"According to your will...... In the afternoon, the market of the main line plates such as 'petrochemical, large consumption, non-ferrous cycle, and coal ......', which just played a local money-making effect, will fall? Liu Xin, the general manager of the company standing next to Fang Xinsheng and Mu Zhengxing, did not see the changes in the two markets as transparently, and heard the conversation between the two at the moment, pondered for a while, and couldn't help asking, "Will the two main lines of 'big finance' and 'big infrastructure' continue to rise?" ”

Fang Xinsheng faced Liu Xin's question, and bowed slightly: "Said, there is a high probability that it will develop like this, in fact, ...... marginal main lines such as 'petrochemical, large consumption, non-ferrous cycle, coal ......', there is no new good news at present, or the news is stimulating, it is simply a group of funds that have made substantial profits in the main line of 'big finance' and 'big infrastructure' before, and they are taking advantage of the expectation of 'Shanghai-Hong Kong Stock Connect' to land well, and carry out profit adjustment to trigger changes in the market."

However, any market movement that has a sustained money-making effect.

It is not at all decided by one or two main funds, whether the market can continue, whether it can really come out, or after the main funds are ignited, what is the final joint force of the entire market.

If, after the large-scale ignition of the main funds, the market will not form the final joint force.

Then, the market in this direction where the main funds are ignited will naturally lose the effective undertaking of the bulls' power, and it will easily fall back.

Actually, at this time......

It is a smart move to continue to pull the main line of 'big finance' and 'big infrastructure', continue to force the short upward, and let the newly entered 'southern system' funds be forced to continue to lift the sedan chair at a high level, but it's a pity...... In the macro pattern of the market, many of the main funds that guide the market do not have this awareness. ”

"In fact, many of the main capital groups in the market today, at this time, it is easy to understand that they are selling chips in the main line areas of 'big finance' and 'big infrastructure', and reducing their positions to take profits and take profits." Mu Zhengxing took over and said, "This is a problem of inertial thinking, although the market has entered the stage of 'bull market', and many investors are aware that this is a bull market, but a bear market for 6 years."

Many of the main funding institutions, in the operation of the market, as well as in the investment strategy.

It has formed the thinking of doing a rebound and taking profit first after taking a bite.

For a while, this kind of thinking should be difficult to change, and at the same time...... It is also difficult to form the large-scale position method that Mr. Fang said.

The so-called authorities are obsessed.

Even if it is a bull market, in the face of a large amount of profit in the account, and the expectation of good landing is realized.

Once on the market, there is a concentrated take-profit sell-off.

Then, the remaining groups of major capital institutions that have a large number of short-term profits and have not yet switched to bull market positions will naturally quickly follow the trend and smash up.

But I think so...... It's good to smash these funds here.

After all, after last Monday's market crash and washing, the main line of "big finance" and "big infrastructure" rebounded from Monday's plunge for four or five consecutive trading days, and re-accumulated a large number of concentrated profit chips.

That is to say, the current short-term pullback, or the profit-taking and profit-taking of these main funds.

The impact on the trend of the overall market and the trend should be minimal, and it will make the two core main lines of 'big finance' and 'big infrastructure' more ideal and easier after another clear profit and unfirm unhedging. ”

"It can be understood that way." Fang Xinsheng nodded after listening to Mu Zhengxing's words.

Liu Xin saw that the two of them were still optimistic, and asked with a smile: "In that case...... Then we shouldn't need to adjust our positions, right? ”

"Not only do you not need to adjust your position, but you can also take advantage of this time, the two core main lines of 'big finance' and 'big infrastructure', some weighted blue-chip stocks and industry leading stocks with strong expectations and strong fundamental logic have pulled back sharply, and we can make appropriate use of our remaining available cash to increase our positions." Fang Xinsheng said, "For the two core main lines of 'big finance' and 'big infrastructure', under this change in market form, it is indeed the obvious intraday correction low point of everything, which is a rare deterministic buying point." ”

"But our main fund position is already about 85%." Mu Zhengxing said, "If you add more, the extreme risk of holding positions will increase rapidly." ”

Fang Xinsheng said: "When the small position is attacked, it brings the market to get through the divergence, and returns to the two core main lines of 'big infrastructure' and 'big finance', and then slowly decreases back to 85% of the position line, in other words...... We can take advantage of this obvious buying opportunity to further reduce the holding cost of our two main fund products.

Under the basic conditions of everything to earn excess profits in the market, the strategy should still be flexible.

After all, our company's two main funds have performed well this year, and since there is an opportunity to squeeze into the top five in the performance ranking of private equity fund products in the industry at the end of the year, we should still actively do it. ”

"Okay!" Mu Zhengxing saw that Fang Xinsheng's face was quite confident, and at the same time, judging from the results of the analysis of the two, the current position, this market development node, is indeed a more certain buying point, and he couldn't help but nod in response, which can be regarded as completely agreeing with Fang Xinsheng's strategic suggestions.

Immediately, he turned back to the traders in the trading room, who had not yet dispersed.

The idea of operation for the afternoon was issued.

At the same time, within Yanjing Yihe Capital Company, the main fund trading room.

Chen Yihe, the fund manager and general manager of the company, and Gao Xiang, the head of the trading team, stared at the fixed market of the two cities, but their opinions and practices were completely different.

"Looking at the trend of this morning, the two core main lines of 'big infrastructure' and 'big finance' are afraid that they will be adjusted sideways for a period of time." Gao Xiang, the head of the trading team, said, "The form of the market's 'high and low switch' is very obvious, and after the good landing of the 'Shanghai-Hong Kong Stock Connect', in the short term, there is no new blockbuster good news on the main line of 'big finance' and 'big infrastructure', and it is not realistic to continue to attack and fight hard in front of these two main lines, and the valuation has risen by 15% to 20% from the bottom.

On the other hand, the low-level main line areas such as 'large consumption, non-ferrous cycle, petrochemical industry, and coal ......'.

It is still hovering at the bottom of history.

In the face of the Shanghai Index, which has risen by almost 50% since the beginning of the year, and the ChiNext Index and the SME Index, which have risen from the bottom area of 500 points last year, have almost doubled to now.

These are still at the bottom of the historical position of the main line of stocks, especially the core weight of blue-chip stocks, high-performance stocks, and industry leading stocks with good fundamentals.

It's really time to rise, and at the same time, there is indeed a strong demand for making up for the increase.

Therefore, I think this morning's market trend should be a clear signal of a watershed and rebalancing in the recent market transition. ”

"Do you think that this morning, taking over the main lines of 'big finance' and 'big infrastructure', and playing a certain market money-making effect, such as 'big consumption, non-ferrous cycle, petrochemical industry, coal', etc., can play a sustained money-making effect in the near future?" Chen Yihe squinted his eyes and asked, "How much space do you think there is for the short-term replenishment of these main lines?" ”

Gao Xiang pondered for a moment and responded: "This year, the Shanghai Index has risen by about 50% so far, even if it is discounted, regardless of factors such as subsequent expected changes, the simple valuation increase, the short-term growth space of these main lines should still have an average of about 25%."

There are also the two core main lines of 'big finance' and 'big infrastructure'.

In particular, the 'securities and Internet finance' sector in the main line of 'big finance' is still too far away from the trend pivot line, that is, the 20-day line, and the moving averages are in the process of gradually flattening after diverging.

According to the technical analysis, wait until these moving averages flatten, and the candlestick body falls to the 20-day line.

Or wait until these moving averages rewind.

In terms of adjustment time, less than a month, should be unlikely.

My advice is...... Mr. Chen, at this time, we can disperse part of the main line positions of 'big finance', cut into the most powerful 'liquor' and 'white electricity' sectors in the field of 'big consumption', and make a wave of replenishment of the market, and then wait for the 'big finance' field, the form of the two core sectors of 'securities and Internet finance' to go well again, and then we will transfer the position back and build a second position. ”

Chen Yihe pondered for a while, thinking that after the "Shanghai-Hong Kong Stock Connect" landed, the main line of "big finance" and "big infrastructure" did not add a new short-term blockbuster support, and in the case that it has accumulated a large number of short-term profits and unraveled the hedge, the motivation to continue to soar and fight high has indeed been obviously insufficient, and he couldn't help but nodded, agreed with Gao Xiang's suggestion, and said: "Since the market trend has given a more obvious signal, after the afternoon open, we will reduce our holdings by 30% Big Finance's main line chips, follow these smart main capital groups in the morning, do a wave of replenishment of the market! ”

"Good!" Hearing that Chen Yihe completely agreed with his analysis, Gao Xiang's face was full of joy, and he quickly responded, and before he had time to eat, he began to lay out the afternoon's trading strategy.

The so-called 'bull market' can never be just an independent bull market of a certain main line or a certain sector.

Obviously, the market volume that exceeded the all-time high was definitely a full-fledged bull market.

Therefore, both of them believe that at this time, under the condition that the high-level strong main line gradually loses its strong expectations and strong offensive momentum, the probability of success of the low-level main line is still very large.

Just when Xinniu Fund Company and Yihe Capital Company made completely different investment strategy choices on the same market performance......

Throughout the lunch break.

Regarding the switch between the high and low of the main line of the market, the market expectation that the low main line will make up for the rise in an all-round way, as well as the corresponding emotional changes.

It is also rapidly fermenting among the vast number of investor groups inside and outside the market.

And in this kind of emotional evolution, the expected change in market views, and everyone's higher expectations for the market outlook.

Arrived at 1 o'clock in the afternoon.

After a one-and-a-half-hour hiatus, the two markets once again ushered in a fierce trading session.

(End of chapter)