"'Once in 20 years'? Hehe...... The fund managers of these institutions really dare to say it! "In the whole network bulls are still very excited, at a glance, there is basically no short voice, and whether it is institutions, financial media, all parties of the Internet stock gods, well-known stock commentators, all in the brainless singing time, Yuhang, a private villa, Zhang Jianping sat on the sofa, squinting at the latest market information, hehe smiled, "When the low position did not dare to take a position, did not dare to speak publicly, now the first stage of the market bull market, has come to the situation of a completely clear card, only to come out to say this...... Isn't this a clear call for everyone to take over? ”

Hearing Zhang Jianping's sarcasm, Liu Changsong, an old friend sitting next to him, responded with a smile: "Mr. Li, who said the opportunity of 'once in 20 years', I don't know if I have participated in the market for 20 years, this tone is not small, but when the market is cold, I don't see people singing more, and the market comes out, and everyone collectively begins to sing more, which is also a very normal thing."

The so-called 'buy up, not buy down'.

For the vast majority of investors participating in the market, whether it is the property market or the stock market, it is basically the same psychology.

In fact, if you analyze it carefully, the investment opportunities in the current market, although 20 years cannot be said, but the investment opportunities in five years should still be counted.

At least since the Shanghai Composite Index officially broke through 3,000 points......

After more than a month of emotional and quantitative development, as well as the attitude of the regulator, the pattern of the market bull market is basically completely determined.

At this time, new funds participate in the market.

Although it is difficult to outperform the market, or to make any excess opportunity profits, there is a high probability that you can still make money.

After all, the money-making effect of the market, during this time, is really good.

Regardless of the concept of short-term logic of leading stocks, or long-term logic of high-performance stocks, weighted blue chips, in terms of disk trends, are good, and basically for the continuous undertaking of funds, there is no loss effect, and the external market trend, external financial market environment and other factors...... They are also continuing to develop in a good direction. ”

After listening to Liu Changsong's words, Zhang Jianping responded with a smile: "Lao Liu, even though the factors you mentioned are indeed the substantive feedback of the current market, and the entire domestic financial market has indeed entered the stage of a bull market, but ...... A bull market doesn't mean that the market will continue to rise.

Although in the current market, almost all investor groups, investment confidence and investment sentiment have returned to a bull market atmosphere.

And the investment risk appetite of the entire market has also continued to rise to a state that can be described as aggressive.

However, since the market broke through 3,000 points in early November, it has been continuously short for almost a month, and the Shanghai Composite Index has risen by 20% every month.

In this case, follow the extreme long sentiment, go long at a high level, and increase positions aggressively.

In the short term, I am afraid it will be difficult to reap any profits.

Whether it is a bull market or a bear market, the basic technical trend of the market still has to be followed.

At present, the short-term profit orders of the entire market, as well as the new chips to unbundle, as well as the hedging group that continues to float out and constantly cut and adjust positions because of the interpretation of extreme bullish sentiment, can be described as quite large, these ...... Although it used to be part of the power of the bulls, it is now basically a potential bearish force in the market.

You said that these short- and medium-term profit-taking orders, especially a large number of profit-taking groups that invest in short- and medium-term logic.

When there are large profits, and once the market sentiment is not progressive, the expectations begin to be fully realized, and the stock price reaches the psychological level, will there be a concentrated sell-off?

If you want me to say...... These profitable funds.

Once there is any extreme turmoil in the market, it will inevitably focus on selling and suppressing the market.

The last time, that is, the extreme market adjustment on November 10, was able to quickly ease the momentum, and the second day it rebounded sharply, covering the huge amount of black candles on that day, and continued to rebound in the following days, and soon hit a new high.

That's because the whole market at that time, from the Shanghai Index to break through 3000 points, the atmosphere of the arrival of the bull market to ease up, the whole market inside and outside, there are extremely large incremental capital groups, waiting to concentrate on the entry to grab funds, so to quickly undertake the selling force, and quickly hit a new market height space.

At that time, the investment logic of 'big finance' had just emerged.

A lot of the major groups in the industry.

In particular, a large number of major institutional groups, which are dominated by investment opportunities on the right side of the market, have reduced their positions in the main fund products under their management.

These institutions are on the right side of the market when there is a huge pullback.

There is a need to rapidly increase positions and increase positions.

There is also the entire market at that time, whether it is domestic news or peripheral news, it has always been in a favorable and continuous release atmosphere.

With these factors in place, the market rebounded quickly at that time, repaired the extreme adjustment, and hit a new height.

and the money-making effect of the whole market becoming more and more hot.

However, you look at the present......

The major core indices of the two cities, especially the Shanghai Composite Index and the A50 Index, have long been divergent in the technical trend of the K-line pattern.

Looking at the amount of energy, the speed of the previous amount of energy is quite rapid.

In the last week or so, the market volume has been able to move significantly faster than before, and the gradual speed has slowed down a bit.

Before, I didn't expect that the turnover of the two cities would explode to 800 billion and 900 billion so quickly.

Now, I didn't expect that the energy of the two cities would hover around 900 billion for so long.

The amount of energy can be gradually decelerated, which shows that in this stage, the incremental funds pouring in from the market have been greatly weakened.

The reason why the over-the-counter incremental funds have weakened greatly, but the market can continue to maintain an upward trend, is because under the extreme bullish sentiment, the position groups in the market are also generally reluctant to raise, resulting in the weakening of the selling volume, which on the surface, maintains the continuous progressive trend of the entire market.

The continuous divergence of the technical situation, the continuous surge of short- and medium-term profits and unhedging orders.

This is coupled with a weakening of the incremental capital that has entered the market.

Under the influence of these factors, once the extreme bullish sentiment of the market declines, then for the market, extreme market volatility is bound to occur.

In the case of a reversal of the potential market bullish and bearish forces.

The trend of the market is unlikely to continue.

At the same time, even if there is no major negative intrusion in the market, or in the internal environment and external environment, there is still a positive release.

The market volume and energy situation will not change.

A large number of short- and medium-term profit-taking orders and unhedging orders, after many stocks have reached their psychological selling price.

The market will also form extreme selling pressure.

In the face of these extreme selling pressures, at least ...... At present, I don't see the market having the full capacity to undertake it.

Other words...... I think the current market situation, is already the surface of the prosperity, but the killing is hidden, the current rising pattern, is basically in a single emotional assistance, trend inertia in the support of a situation, once the market has any bullish factors change, will lead to the current market trend of rapid adjustment, or rapid collapse. ”

"Hidden Killers?" After listening carefully to Zhang Jianping's analysis of the market, Liu Changsong pondered carefully, couldn't help but feel shocked, and said, "No wonder in the face of such a good trend in today's market, your positions do not increase but decrease, but begin to take the initiative to give up profits." ”

Zhang Jianping said with a smile: "If you want to live for a long time in this market, you have to choose to take the initiative to give up profits, only make money within your own ability, and you will feel at ease, and only if you have money within your ability, you can really take away the profits, otherwise, ...... All the risk profits are just passing by the eye, this time you are lucky to earn, and the next time you are unlucky, you will definitely lose it.

You know, the world ......

Money in the financial market cannot be earned, but losses can be lost. ”

Liu Changsong nodded and said with a smile: "In short, the money earned by strength can be earned again next time, and the money earned by luck, no matter how many times it succeeds, sooner or later it will have to be returned to the market by luck." ”

"Yes, yes...... Zhang Jianping nodded and said with a smile, "It's still Lao Liu, you can summarize it." ”

Liu Changsong smiled, thought for a while, and then said, "But, Lao Zhang...... Since you think that the current long-short power of the market has begun to change, the new long volume can not support the index to continue to rise in the short term, and the entire market investment environment has entered the stage of risk game, then why only reduce part of the position, not a large-scale reduction of positions, and harvest profits in a timely manner? ”

Zhang Jianping responded: "Didn't I just say it? The development of the market trend is inertia, even though the potential bullish power of the current market is no longer enough to undertake the rapid expansion of short-term profits in the market and the continuous increase in the unhedging chips, but the extreme bullish sentiment assists, as well as the overall bull market expectation consistency, the market can still go up a distance by inertia under the fiery money-making effect.

There is also the situation when there is upward pressure in the market.

The active capital group in the market is bound to follow the drive of emotions and further abandon the weak stocks that cannot outperform the market, so as to gather a number of core leading stocks with higher liquidity, higher market attention, stronger expectations and more intense market discussions.

In other words, at this stage.

The market trend of the popular leaders in the market will not only not weaken, but will behave more violently.

This is caused by the natural adjustment of positions by the vast group of investors in the market, driven by human weakness.

Therefore, the popular leading stocks that have been speculated by the active capital groups in the market will continue to go up when the overall trend of the market has not been completely reversed, and as investors who hold these stocks, they can continue to hold positions for a period of time and earn the last steamed profit in the market.

"To put it simply, this is the time to ...... It's just suitable for going to the weak and staying strong, right? Liu Changsong roughly understood, and said with a smile, "This is the so-called investment logic of 'the strong will always be strong, and the weak will always be weak' in the development of the main line market, right?" Popular stocks with better liquidity and more main funds naturally have a higher ability to bear risks. ”

Zhang Jianping nodded and replied, "You can also say the same." ”

"What makes me wonder though...... Since according to what Lao Zhang said, the market has begun to enter the stage of risk and profit game, as the smart capital for people in the market, the main capital of the 'Yuhang Department', there should be some movement. Liu Changsong said, "However, at present, especially from the data of today's Dragon and Tiger List, this main fund is still in a state of full lock-up."

After a month of continuous short selling.

It is preliminarily estimated that the main capital of the 'Yuhang Department' will hold positions in the market's 'big finance', 'big infrastructure', and 'military industry' in several popular main line areas, at least more than 150 billion yuan.

You know, the main capital of this size.

If you have to earn the last copper plate in the market, there is a high probability that you will not be able to get out.

I'm thinking...... Could it be that this main force of funds is not aware of the potential risks you mentioned by Lao Zhang? ”

Zhang Jianping saw that Liu Changsong mentioned the main capital of the 'Yuhang Department', thought about it, and said: "I have to admit that according to the past investment experience of the main capital of the 'Yuhang Department', they are indeed the smartest funds in the market, and it stands to reason that they ...... This main force of funds should have been aware of the potential risks I am talking about.

Let's take a look again......

I believe that in the next few days, there is a high probability that the funds of the 'Yuhang Department' will move.

If not, then Mr. Su, who is in charge of the 'Yuhang Department' of funds, has a high probability of suffering a round of net value drawdown, and his investment myth and transaction myth are bound to be broken. ”

"Well, let's wait and see!" Liu Changsong nodded and responded.

As the two of them communicate with each other in response to the current market changes and the current information on the whole network, they make new follow-up market predictions.

On the macro news side of the two cities.

The news about the entry of 'pensions' into the market has undergone a new change.

At the same time, the news about the central bank's high probability of cutting interest rates and reserve requirements next month is also spreading more and more widely, so that many retail groups in the market are talking about this matter.

There is also the external market, according to some data released by foreign institutions.

The recovery of the global economy also seems to show some optimistic expectations, which can support global capital and further long the financial market.

In short, in the release of a lot of information, the majority of investors continue to discuss fiercely.

With the continuous passage of time, the bullish sentiment inside and outside the market, as well as investment confidence, is still rising, everyone's expectations for the market outlook are generally more and more optimistic, and the idea of expecting the Shanghai Index to hit 4,000 points at the end of the year seems to have gradually become the consensus of the majority of investors. (End of chapter)