"It's more than that." Lin Tingzong continued, "At present, the accumulation of short-term profit orders in the entire market is very serious, if the opening position is too high, and the index directly hits the expected position in many people's hearts in one breath, then these piles of short-term profit orders will definitely swarm out."

Although the current market is still in a continuous process in terms of volume and performance.

And it has gradually approached the trillion turnover mark.

However, the concentrated outpouring of profit orders will still cause great short-term upward pressure on the market.

Once the index is suppressed by profit-taking in the short-term trend and there is a relatively large rout, then the current consistent bullish expectations and the hot long sentiment will gradually go to exhaustion, thus forming a further suppressive effect on the next disk trend.

Therefore, the market continues to fluctuate upwards along the upward trend line.

is the safest way to rise.

During this period, once the index continues to rise high, it is really not far from the trend change and pattern change. ”

"According to what you say...... There shouldn't be a big risk in the market at the moment, right? When Gu Chijiang heard Lin Tingzong's analysis, a trace of worry swelled up in his heart, and he asked, "Do our company's two main fund products, the current holding strategy, need to be adjusted immediately?" ”

Lin Tingzong thought for a while and said: "In the case that the market sentiment has not yet shown signs of exhaustion, and the core main lines of the market, such as 'big finance', 'big infrastructure', and 'military industry', continue to lead the market to rise, and the active capital groups in the market are still fully converging on these core main line areas, we don't need to rush to change our trading strategy."

After all, the market is moving under such a steep upward trend.

Even if it peaks in the short term, it will be a process, not an instantaneous completion, after all, although the current accumulation of profit orders in the market is serious, there are still a lot of buying orders that continue to be undertaken.

And as long as the market situation changes, there is time space.

With the volume of our company's two main fund products, it is completely timely to reduce positions and take profits and exit when the market shows signs of trend change.

After all, we don't need to pay too much attention to market liquidity. ”

"That's just as well." Gu Chijiang bowed slightly, and the trace of worry in his heart gradually let go again.

At present, the total scale of the two main fund products managed by their company has not reached 10 billion, which is ...... Under the current liquidity of the two markets with a turnover of nearly one trillion yuan, if you really want to reduce positions on a large scale and take profit, it can basically be completed in one day.

Therefore, there is no need to have too much time in advance to predict the subsequent market trend of the market and make an early response to reduce positions and take profits.

"Do you think the market bullish sentiment may have a significant recession at that point?" After a pause, Gu Chijiang asked again, "At what point will there be a possible change in the market's continuous short-squeezing upward trend, and the current market ...... Everyone expects the Shanghai Composite Index to touch the 4,000-point level this time, do you think it is possible? ”

Facing Gu Chijiang's question, Lin Tingzong thought for a moment and responded: "In the current market, the long-term sentiment of the investor group, as well as the investment confidence, are very aggressive, and the pattern of the market bull market has been widely recognized by the majority of investors in the market.

In this case, as long as the market still has a relatively hot money-making effect.

There are also a large number of over-the-counter incremental capital groups entering the market on a large scale.

Then, the market investment sentiment will not change much.

Unless there is some extreme negative news hit by the macro news, it may suddenly be in danger, resulting in a reversal in market investment sentiment.

And the current predictable ......

Whether it is the external market trend, or the news, whether it is the domestic macroeconomic trend, or the regulator's willingness to move the market, it is basically developing in a sustained positive direction, and the regulator is still caring for the market's long sentiment and long atmosphere from time to time.

In other words, the extreme bearish blow on the news side will not appear in the short and medium term.

And when external factors cannot affect the emotional change in the field, it depends on the emotional change caused by internal factors.

That is, it depends on the capital game within the market, which may lead to a change in the market situation.

At present, after the Shanghai Composite Index broke through 3,000 points, there is no obvious adjustment trend with time and space in the recent month's continuous short rise, that is to say, a large number of short-term profits and unhedging in the market have been accumulating since the Shanghai Index broke through 3,000 points.

Among them, there is no shortage of large institutional capital of 100 billion yuan like the 'Yuhang Department'.

Once these interventions are early, the main funds with greater cost advantages and huge profits generally begin to reduce positions and take profits and reap market profits.

Then, the chip structure that has maintained the continuous short rise of the index during this period of time will inevitably loosen.

As a result, the trend of the market has changed, and the overall money-making effect of the market has fallen.

And when will these main capital groups, that is, the large-scale profit-taking orders that have accumulated in the market, take profits?

If the internal and external news is good, the economic fundamentals are also good.

Then, these funds will inevitably take profits on a large scale when the stock price trend in the short and medium term, as well as many core popular stocks, meet the expectations of fundamental changes and reactions, and the stock price fully fulfills the expectations in mind.

There is also the settlement cycle threshold of the net value at the end of the year, and many funds will take profits.

Therefore, as far as I predict, the market may fluctuate and adjust greatly in the time period of the mid-December and next inquiry.

And, in December, wasn't it rumored that the central bank would also make a monetary policy pivot?

Look at the blockbuster news of this market rumor, when will it be able to land.

If this blockbuster good news lands ahead of schedule before mid-to-late December, maybe...... The adjustment of the market will also come in advance.

After all, the main line of 'big finance' is currently supporting the overall surge and sudden advance.

The most important expectation factor is brought about by this blockbuster good news, everyone expects the central bank to cut interest rates and reserve requirements, and it is expected that macro monetary liquidity will turn to a more abundant environment.

If this blockbuster good news lands.

In the short and medium term, the line of 'big finance' will lose its momentum for rapid upward movement.

After all, once it lands, it will be good for the exit to become negative.

Many groups of lurking funds in advance who have reached expectations will definitely take advantage of this wave of blockbuster benefits to sell chips on a large scale and quickly reap profits.

As for this wave of the Shanghai Composite Index in a comprehensive short upward trend, whether the Shanghai Composite Index can continue to rise and hit the 4,000-point mark.

I think...... It's still quite difficult.

Although it is said that after the Shanghai Composite Index officially crossed 3,500 points, the upward pressure is not as great as before under the general bull market pattern.

However, after the continuous rise of the index and the continuous accumulation of active funds in the market.

At this time, the whole market goes to the right side of the opportunity.

Basically, the slightly more active group of market investors should have entered the market to go long.

In other words, there are not as many new investors who can provide new incremental funds to the market.

Before there was a radical shift in macro monetary liquidity.

It is foreseeable that the increasing rate of turnover in the market will definitely slow down.

In fact, the recent market turnover performance and growth rate have not been as rapid as before.

In addition, the Shanghai Composite Index is currently at 4,000 points, and there is still a distance of almost 13%, such a spatial distance...... It is impossible to accumulate large-scale accumulation of profit-making and unhedging capital groups, and it is impossible to hold back the lock-up and sell and take profit without profit, and there are still many fund groups that need to be liquidated at the end of the year, which will also lead to a sharp decrease in the overall liquidity of the market.

In short, there is no expected huge new increment to support, and the probability of the Shanghai Index wanting to quickly hit 4,000 points without time and space adjustment is not high.

At this stage, we can't have too high expectations.

There can be no psychology that the Shanghai Composite Index does not reach the 4,000-point mark, so it will not reduce its position and take profit. ”

"If you say that, I'll understand." After listening to Lin Tingzong's analysis, Gu Chijiang had a complete bottom in his heart, and also had a complete expectation in his heart, and said with a smile, "Then let's maintain a static position first, and see what position this wave of Shanghai Index can hit.

Actually, according to our original expectations.

At present, the net value performance of our company's two main fund products has exceeded the original expectations, which can be regarded as an explanation for the investor groups who trust us.

Since the end of the year, there is a high probability that the market will have a large amplitude fluctuation, and the market is difficult to predict.

Then it is also a better choice for us to retreat at the right time. ”

"Hmm!" Lin Tingzong nodded, thought for a while, and continued, "In fact, the capital volume of our two fund products is not large, under the current market liquidity, the rapid adjustment of funds will not affect the disk and trend form of individual stocks too much, if Mr. Gu wants to earn the last wave of excess profits in the market, we can still adjust our positions appropriately, reduce the relatively weak stocks in our fund holdings, so as to concentrate on the popular leading stocks of the main line of 'big finance'."

The general market is the final stage of the main rally.

In the process of the main line market trend beginning to diverge, the leader can play a higher space height and a stronger money-making effect.

I think that in the past two days, the main capital groups of the entire market, as well as the active short- and medium-term capital groups, have been concentrating on the popular leaders in the core main line fields of 'big finance', 'big infrastructure', 'military industry', 'sub-new stocks', and 'film and television media'.

I think...... This should be the beginning of the divergence of the main line of the market. ”

"Good!" Gu Chijiang nodded, fully trusting and agreeing with Lin Tingzong's proposal, and said with a smile, "You say okay, then it's okay." ”

After speaking, he asked Lin Tingzong to instruct the traders in the trading room to immediately change the effect trading strategy.

And as Lin Tingzong instructed traders to change their trading strategies.

At this time, the trading time of the two markets has entered 9:25, and the call auction of the two markets has ended.

I saw that the entire call auction process went through ten minutes before and after.

The final presentation of the two markets is ......

The Shanghai Composite Index opened higher at a 0.59% gain, which can be touched to the highest point set in yesterday's intraday session, and did not continue to leave a gap; The Shenzhen Index and the ChiNext Index opened 0.42% and 0.38% higher respectively, still weaker than the Shanghai Index; As for the small and medium-sized board index and the A50 index, one opened 0.29% higher, and the other opened sharply higher to 0.93%.

Through the core indices of several major markets that opened high, it can be seen that the main market bias is still in the direction of the main board, or the direction of the main board's weighted stocks and blue-chip stocks.

Of course, it can also be said to be in the main direction of the weight of 'big finance'.

After all, among the constituent stocks of the A50 index, the constituent stocks that occupy the largest weight are the weighted stocks in the main line of 'big finance'.

These two have a certain overlap.

And this is also the reason why the A50 index has been so strong since the outbreak of the main line of 'big finance'.

In addition to the performance of several core indices in the market, a number of popular main lines in the two cities, as well as the performance of industry sectors and concept sectors.

There is no doubt about it.

In the main line of 'big finance', related industry sectors and concept sectors are still showing the form of leading the two cities.

Among them, the 'Internet Finance' sector index opened higher at 1.63%, continuing to exceed the expectations of the majority of investors for the performance of this sector before the market; The 'securities' sector index opened at a higher level of 1.29%, compared with the beginning of the call auction, although it fell a lot, but it is still strong; The two major weighted sector indexes of banking and insurance opened 0.98% and 0.92% higher respectively, and both outperformed the strongest A50 index.

Behind the performance of the main line of 'big finance', it is still the two core main lines of 'big infrastructure' and 'military industry'.

in the field of 'big infrastructure'.

The performance of other industry sector indices such as 'steel', 'commercial real estate development', 'public transportation', 'machinery and equipment', and 'non-public transportation' and other industry sector indices also opened at more than 0.6%, outperforming other major market indices except for the A50 index.

Among them, the concept of the main line of 'big infrastructure'.

'On the Road of the New Era, the Maritime Silk Road', 'Reform and Reorganization of Central Enterprises and State-owned Enterprises', 'Shanghai Free Trade Zone', and 'Eurasian Economic Belt', the core conceptual theme sector indexes also opened higher than 0.7%, continuing to show a strong trend.

As for the main field of the 'military industry'.

The 'national defense and military' industry sector index opened at 0.79% higher, still outperforming the Shanghai Index.

The related concept of 'military concept', 'Beidou navigation', 'domestic aircraft carrier', 'military-civilian integration' and other concept sector indices are higher than 0.7% to 0.9%.

The two main lines of 'sub-IPO' and 'film and television media', which were also hot before.

The 'sub-new stocks' sector index opened at a higher position of 0.68%, showing some decline, especially the sub-new stocks that once hit the floor of the sky in the intraday yesterday, and today is basically a 'one-word soul knife' killing situation, which casts a shadow on the hype sentiment of this sector.

The 'film and television media' sector index opened at 0.78%, second only to the 'national defense and military' industry sector index.

Although its overall performance is weaker than the three core main lines of 'big finance', 'big infrastructure' and 'military industry', it is obviously stronger than the main lines of 'mobile Internet', 'smart phone industry chain' and 'big consumption', and it has also gathered some money-making effects.

and the main line areas such as 'mobile Internet', 'smart phone industry chain', and 'big consumption'.

and its associated major industry sectors and concept plates.

Although most of the industry sectors and concept sector indices have also achieved a high opening in the red market, they have basically underperformed the high opening gains of the major indices in the market, and there is a money-making effect, but not much.

As for the 'non-ferrous cycle', 'coal', 'petrochemical', 'animal husbandry', 'medicine'...... and other marginal mainline areas.

The related industry sectors and concept sectors basically maintained a slightly red plate, or a flat open, slightly lower opening trend.

These marginal main lines are still the weak market performance areas in the entire market.

At the same time, concepts such as the 'ST plate' and the 'shell resources' concept plate, in the case of the market IPO in full swing, are even more weak, basically occasionally rebounding all the way down against the trend.

In addition to the performance of these industry sectors and concept sectors in the two cities.

The majority of investor groups are most concerned about the discussion heat of investors in the two cities, and the performance of the top 20 and 30 popular stocks in terms of popularity.

I saw that the most popular demon stock, "Blue Stone Heavy Loading", opened high at a rise of 4.21%, and the trading volume of the entire call auction process reached 32,000 hands, which can be described as a large volume, and the disk divergence, once again came to the point of serious disagreement, and the long and short trading was extremely intense.

"Huake Sugon" opened high today, but exceeded the "blue stone reload", opened high in the 5.11% increase position, and the disk turnover in the call auction, compared with the "blue stone reloading" is also obviously relatively shrinking, the overall chip locking, as well as the long and short divergence of the disk, are better than the "blue stone reloading", it seems that the two big demon stocks, in the trend form, in the leading pattern, there has been another change.

After all, just by this opening pattern.

The follow-up development potential of 'Huake Sugon' is obviously better than that of 'Bluestone Reloading'.

'Straight Flush' opened higher at 2.01%, slightly stronger than the performance of the 'Internet Finance' sector index, but weaker than other core popular concept stocks in the same sector, and on its disk, the trading volume of the call auction stage is also very large, and the long and short divergence on the disk is more intense.

The check of 'Great Wisdom' opened at a high level of 7.09%, and there are traces of continuing to rise and fall.

'Huake Jincai' also opened sharply higher at 5.36%.

At the last time node of the call auction, the "Shanghai Ganglian" opened sharply and fell sharply, and finally only opened 1.89% higher, which means that the disk pattern is a bit stronger and weaker.

'Jinzheng Co., Ltd.', 'Yinjie Technology', 'Oriental Fortune', 'Hengsheng Electronics'...... These popular stocks in the 'Internet Finance' sector are basically between 2% and 4% higher, which is generally stronger than the increase in the 'Internet Finance' sector index, and the market attention and discussion of these votes are also continuing to rise.

The check of 'Huagong International' finally opened at a 3.11% gain, which is still very strong compared to other heavy-cap stocks.

'CEFC Securities' opened 1.49% higher.

'Huaguo Construction' opened 1.27% higher.

'Huaguo MCC' opened 2.17% higher; 'Huashang Securities' opened 1.18% higher; 'Hua Investment Capital' opened 1.67% higher; 'Western Securities' opened 1.49% higher......

Overall, the top 30 popular stocks in the two cities.

Except for one or two stocks that have been directly hit by bearishness, the others have basically achieved a situation of opening high in the red market, and the money-making effect of these popular stocks is still bursting.

There is also for the funds that undertook these hot stocks in the intraday yesterday.

Today, they have also given a certain premium, which can allow the short-term funds to undertake these popular stocks to leave safely.

Faced with such an opening situation in the two cities......

The vast majority of investor groups inside and outside the market, as well as the main institutional groups of all parties concerned about the market, are still relatively excited.

Moreover, although the major indexes, major industry sectors, and concept plates.

Compared with the market performance before 9:20 at the beginning of the call auction in the two cities, the market has fallen a lot, but as far as this opening result is concerned, it is still significantly beyond everyone's expectations for the opening of the market before the market, and everyone always feels that as long as there is no obvious loss effect on a number of popular stocks, and the money-making effect is still there, then there is no problem with the market in the two markets.

"Haha, high open, high open again!"

When the time turned to a short pause from 9:25 to 9:30, at this moment, among the groups of retail investors gathered in the stock discussion area of the trading platform, some people stared at the two markets after the end of the call auction, showed a bright smile, and laughed and predicted: "There is no doubt that the two markets today are definitely the trend pattern of the long white line breakout." (End of chapter)