"What huge problem?" Standing next to Fang Xinsheng, Mu Zhengxing, the product trading manager of the 'Manniu No. 2' fund, who was also carefully reviewing the performance of the morning market, did not hear Fang Xinsheng's words clearly for a while, and couldn't help but hurriedly come back to his senses and asked, "Fang always said that the market rose too quickly this morning, and the emotions progressed too fast, resulting in a lot of stocks not changing hands enough, and the chip structure was not stable, and it was very likely that there would be a diving trend in the afternoon?" ”

Fang Xinsheng chuckled and shook his head, and said: "I don't mean today, but the upward trend of the entire market, which seems too eager.

This will lead to the weakening of the desire of many short- and medium-term capital groups that have already made substantial profits at this stage, as well as the new unhedging fund groups, to sell immediately.

That is to say, it will make the market's short-term profit orders and unhedging orders accumulate more and more seriously.

Once the market's position funds are grouped, the desire to sell continues to weaken.

Then, the turnover rate of the market will inevitably continue to decline, and at the same time, the number of accumulated profit orders and unhedging orders will also rise rapidly.

However, we all know that.

It is impossible to maintain the continuous hot investment sentiment and speculation.

Subsequently, with the change of market news, or after the market continues to soar, the money-making effect will weaken, and its investment sentiment and speculation will inevitably decline and weaken after many good cash and profit cash.

And when the mood enters a recessionary situation.

Then, in the continuous rise of the previous market, the huge profits and unhedging orders that have been accumulated continuously will naturally be sold at this time.

However, what is clearly foreseeable is ......

In this case, it is difficult to bear the bullish power of the market recession, or the bullish force that is already at the end of the strong crossbow.

It's like a dam storing water.

If the rainfall continues to rise, the water level of the river continues to rise, and the dam does not continue to release water in front of it, and the water level is maintained at a safe level, once the water level significantly exceeds the warning line, it will be too late for the dam to release floodwater.

When the market's long capital group is unable to withstand the concentrated sell-off, profit-taking and unhedging.

It is very likely that a sustained extreme correction will occur.

When the extreme adjustment market continues to occur, the money-making effect of the market is bound to decline rapidly, and quickly enter the stage of money-losing effect.

These market performance factors will further drive the rapid stop loss of new capital groups.

Eventually, a comprehensive stampede of the capital group will be formed.

It can be said that once the market develops to this situation, the investment confidence that the market has built up with great difficulty will be greatly tested, and the current market continues to rise in a continuous upward trend, which is bound to be completely reversed, and the market pattern of the 'bull market' will also fall into great uncertainty.

These...... That's what I'm worried about.

As for the short-term trend of the market, or the intraday trend.

There should be no big problem before the overall chip structure of the market has not been completely loosened and the new long capital power in the market has not been completely exhausted. ”

After listening to Fang Xinsheng's analysis, Mu Zhengxing reacted and said with a smile: "Although what you said Mr. Fang said is a hidden worry in the current market development, since the market sentiment has reached this point, the trend of continuous short rise has also been formed.

Then we can't change the market trend, or affect the performance of the market.

In the final analysis, as a member of the group of profit-making funds in the market, in this case, we can only follow the market trend and harvest the last bit of excess profit in the market as much as possible. ”

"I can't say that." Fang Xinsheng pondered for a moment, took Mu Zhengxing's words, and continued, "With the scale of funds managed by our institution, although we cannot change the current market trend and the trend of the market, it will affect the change of market sentiment.

However, on the premise that we know that there is such a hidden worry and hidden danger in the market.

We can do a good job of corresponding investment and trading strategies in advance, so as to deal with the trend changes and market changes that are highly likely to occur in the subsequent market.

At the same time, we know where the current market is in the pattern.

Knowing the development of the index and the specific main line market trend, you can maintain a sober market view, so as not to get lost in the current hot mood of the market, so as to continue to adjust positions on a large scale, concentrate positions to continue to chase the corresponding hot stocks in the market, and further squeeze excess profits in the market.

In other words, knowing oneself and knowing one's opponent is the only way to survive a hundred battles.

Only when we know the possible direction of market development and have full expectations in our hearts, we will not panic in the face of extreme market changes that are very likely to occur in the market. ”

"Xiao Fang is right!" I don't know when, the general manager of Xinniu Fund Company, Liu Xin also came to the main fund trading room, and after listening to Fang Xinsheng's words, he answered with a smile, "It is said that when the market is crazy, you should be cautious, and when the market is pessimistic, you should be optimistic, it seems that ...... This sentence, whether it is a bull market or a bear market, is effective. ”

Hearing Liu Xin's voice, Fang Xinsheng glanced back at the other party, nodded slightly, and said: "Fear when the market sentiment is crazy, and greed when the market sentiment is panicked, are originally two more extreme reflexive states in the trading market. ”

"Then according to what you mean, Mr. Fang...... Mu Zhengxing heard the conversation between the two, pondered for a moment, and said, "At the current stage, our company's two main fund products, not only can we not continue to weaken and stay strong, adjust the position structure, and further concentrate positions, but should consider the matter of 'reducing positions and taking profits'?" ”

Fang Xinsheng continued to nod and said: "This is natural, in the current market, many industry institutions have judged that the market will enter December, and the market will be even crazier, because various institutions will operate more aggressively in order to rank the performance at the end of the year, and at the same time, there are potential benefits in the market that have not been realized."

However, everyone forgot.

At the current stage, the active capital group that should enter the market has basically all entered the market.

The subsequent major market long increment can only come from a group of potential investors outside the market, as well as other new funds entering the market.

Other words......

Next, with or without a positive stimulus.

The influx of funds from the market will continue to decrease, while the potential short-selling power accumulated in the market is increasing.

In this case, even if there is a potential benefit, it will only be a positive cash, and it will become a negative trend.

What's more, when everyone predicts that the market will develop in one direction, the market often does not develop in the direction that everyone expects.

Therefore, we reduce our position in advance and take profit.

From this moment on, every time the Shanghai Index rises by one point, it will reduce the position by 5%, and it is still very necessary to reap the profits immediately, and to keep the current net value of our company's two main fund products. ”

"I think Xiao Fang has a point." Without waiting for Mu Zhengxing's response, Liu Xin had already said again, "After the market has continued to rise shorts during this period of time, our two main fund products are accurately betting on 'big finance', 'big infrastructure', ' In the case of several popular main line markets of the military industry, it has reaped huge profits, and its fund net value performance has greatly exceeded our previous expectations, completing this year's performance target, and in the industry's related fund product performance rankings, it has also achieved excellent results, which has been widely recognized by the majority of investors who have invested in us, so ...... Since the market has developed, there have been certain hidden worries.

Then there is really no need for reckless and radical operations.

At this time, it is enough to stabilize the performance ranking of our fund products and control the drawdown of the net value of the fund at the end of the year.

with existing performance and achievements.

As long as we understand that the market situation is not too bad, there is no pressure on us to expand our business. ”

When Mu Zhengxing heard Liu Xin's words, and saw that the two persons in charge of the company said so, he could only continue to keep his opinion in his heart, then nodded, and said: "Since Mr. Fang and Mr. Liu both think so, then I will immediately ask everyone to change the corresponding trading strategy and follow the trading strategy that Mr. Fang just said." ”

After speaking, he convened the trading room, and several trading groups held a brief lunch meeting.

Communicate new trading strategies quickly.

At the same time, it also sorted out the market in the morning and the performance of individual stocks held by the fund, and made a standard for holding individual stocks that give priority to reducing positions and taking profits under the strategy of 'reducing positions and taking profits'.

And with the change of Xinniu Fund Company's trading strategy.

The lunch break is also fleeting.

Unconsciously, at 1 o'clock in the afternoon, after a short suspension of an hour and a half, the two cities further brewed under the market bullish sentiment, and also inside and outside the market, the main capital groups, the industry institutions and groups of different strategies switched, different interpretations, once again ushered in the formal continuous bidding transaction.

I saw the hand of time, just past 1 o'clock.

The stagnant market of the two markets began to change rapidly, and whether it was the Shanghai Index, the A50 Index, or the Shenzhen Index, the ChiNext Index, and the Small and Medium-sized Board Index, they all climbed again in an instant, quickly repairing the short-term correction trend range of the market before the close of the morning near noon.

At 1:01, the Shanghai Composite Index regained its 1.85% gains.

At 1:02, 'CEFC Securities' rose by more than one point in a straight line, once again standing on the 6% increase position in the day.

At 1:03, the 'securities' sector index once again rose by 3.75%.

At 1:04, the intraday increase of 'Huaguo Construction' also crossed the 6% mark again.

At 1:05, the share price of 'Huaguo MCC' rose in a straight line again, and with a thunderous momentum, it broke through the high point of the morning disk in a straight line, and the increase reached 8%, which has a great impact on the price limit.

At 1:06, 'Fushun Special Steel' closed the price limit.

At 1:07, the share price of 'Huaguo MCC' hit the daily limit.

At 1:08, under the main attack of 130,000 consecutive main buy orders, the stock price of 'Huaguo Metallurgical' completely blocked the price limit, and the stock price also hit a new annual high at this moment, completely getting rid of the shock adjustment that lasted for nearly 2 months, and once again showed the main upward trend of the breakthrough form.

At 1:09, the Shanghai Composite Index reached the 2% mark.

At 1:10, the two weighted stocks of "Huaguo South Car and Huaguo North Car" rose in unison, and they all stood at the 5% increase mark in the day, and the intraday turnover of the two checks was also at this moment, breaking through to more than 1.5 billion mark, and the two stocks on the disk, the amount of active buying funds can be described as endless.

At 1:11, the 'securities' sector index rose by more than 4%.

At 1:12, the stock price of 'Hua Investment Capital', the leading stock in the securities sector in the early stage, hit the price limit.

At 1:13, the stock of 'Hua Investment Capital' closed the price limit, and at this moment, the net inflow of the main funds in the securities sector once again exceeded the scale of 3 billion, which shows that in the process of the securities sector continuing to force the short upward, and in the process of continuously hitting new highs, a large number of main capital groups are still increasing their positions on a large scale in this direction.

At 1:14, the share price of 'Hengsheng Electronics' hit the 8% mark.

At 1:15, the 'Internet Finance' sector index also hit a new intraday high, and the intraday increase has quickly approached the 5% growth mark.

At 1:16, the intraday gains of the two major weighted sectors of banking and insurance all returned to above the 2.5% mark.

At 1:17, the intraday increase of the A50 index also hit a new intraday high, returning to the 2.5% increase mark.

At 1:18, the number of stocks in the two cities and the number of stocks in the red plate also hit a new high, and the overall money-making effect of the market reproduced a crazy scene.

At 1:19, the capital groups that spilled over to the direction of the 'Internet software' and 'Internet application' industry sectors also began to rush to raise funds on a large scale, among them, such as 'Huaguo Software, 2345, Inspur Information, Internet Speed Technology, Ren Zixing, Anshuo Information ......' and other related stocks, also followed the change.

At 1:20, the Shanghai Composite Index successfully stood at the 2% mark.

At 1:21, the Shenzhen Index and the ChiNext Index also hit a new intraday high.

"Damn, crazy, this market trend pattern is really crazy." At about 1:25, inside the magic capital, Zexi Investment Company, and in the main fund trading room, staring at the real-time changes in the two cities, Zhou Kan, who was focused, was shocked again in his heart, and exclaimed, "Look at this trend, the Shanghai Index really wants to take a breath and stand directly at 3600 points?" ”

In his exclamation.

The Shanghai Composite Index is less than 15 points away from the 3,600 point mark.

According to the trend pattern of the Shanghai Composite Index once again rapidly attacking after the afternoon opening, it may take more than ten minutes for the Shanghai Composite Index to jump over the 3600 point mark. (End of chapter)