"Mr. Su ......"

A few people who had a heated discussion just now stood up and greeted Su Yu when they saw Su Yu's arrival.

Su Yu bowed slightly, then motioned for everyone to sit down, then walked to Li Meng's side, his eyes fell on the big screen in the trading room, and asked, "How?" ”

Li Meng replied: "I was just about to adjust my trading strategy. ”

Saying that, Li Meng roughly told Su Yu about the results of everyone's discussion just now, as well as her current understanding of the changes in the two markets.

After listening to this, Su Yu nodded with a smile and said: "Yes, the growth rate of quantity and energy is decreasing, and the market index has begun to rise in an all-round way.

In this position, you plan to gradually reduce positions and take profits to reap market profits.

Take profit and unhedge funds that have accumulated too much in the market and have begun to exceed the ability of long funds to take profits.

It is also a very good trading strategy indeed.

However, I expect a real bullish and short reversal in the market, especially if the market can reflect the signs of such a reversal.

There is a high probability that there will be a process of stimulation and fermentation.

That is to say, the current market trend is likely to rely on the inertia of the trend, as well as the stimulation of internal and external positive factors, the stimulation of overly consistent bullish sentiment, and the radical entry of short-term residual over-the-counter capital groups...... Continue to go up for a while.

But it must be the end of a period of the main upward market.

In view of the huge scale of our institution's current asset management, there is certainly no problem with the feedback given by the market in advance. ”

"How long do you think that relying on the current positive factors, the index and the corresponding main line will continue in the trend inertia?" Li Mengmeng thought for a while and asked, "How much space and time do we have to gradually reduce our positions and take profits?" ”

Su Yu stared at the big screen in the trading room and responded: "According to my speculation, the continuation time of the market should be able to continue until next week." ”

"Next week?" Li Meng was slightly stunned.

Su Yu nodded and said: "Next week, at the beginning of the month, the news of the central bank's interest rate cut and RRR cut rumored by the market can be accurately realized, and whether this good news can be landed, it should be clear, and regardless of whether this blockbuster good news can be finally cashed in and landed, as long as the moment the news is clear, it should be the beginning of the market reversal."

After all, the continued high-level surge is such a blockbuster positive that everyone has widely expected.

Once it lands, it is a good one.

At that time, the on-site profit-taking and hedging funds that have already made a large profit will definitely be unbearable.

What's more, the current line of 'big finance' has continued to rise short, and it has risen so eagerly, and the biggest driving force of the market is this blockbuster benefit.

Once the good is realized, it will be difficult for 'big finance' to hold on without adjustment. ”

"If we only have a week, then we have to be a little faster in terms of rebalancing strategy." Li Meng said, "Otherwise, it is very likely that before the market correction comes, it will not be possible to complete the strategic plan of reducing positions and taking profits." ”

Su Yu said: "The overall liquidity of the current market is still very high, and our main fund products, the constituent stocks currently held, are basically the core hot stocks with good market liquidity, and it can be achieved in about a week to gradually complete the strategic plan of reducing positions and taking profits."

Of course, at this stage.

In the case that the market of the two markets has not yet turned substantially.

In the process of changing our strategy and taking profit and reducing positions, we should not sell too aggressively, and we should be careful to avoid the disclosure of the market's dragon and tiger list.

After all, our institution still has a great influence on the market.

In addition, we have a relatively large position.

If our strategic plan, the behavior of reducing positions and taking profits, is exposed to the list of dragons and tigers early, it is very likely to induce the market to make adjustments in advance, which will lead to the peak of this round of market in advance, thereby restricting the implementation of our strategy and the realization of the final strategy of reducing positions and taking profits. ”

Li Meng nodded and said, "This point of attention, I have already instructed everyone to pay attention." ”

"And ......," Su Yu paused, "On the 'Anzhao Fund' managed by Mr. Qin, have you informed me?" ”

Li Meng heard Su Yu mention the 'Anzhao Fund' company, so he reacted and said with a smile: "That's not true, all the fund products of our two institutions, do you want to reduce your position simultaneously?" ”

Su Yu responded: "It's still necessary. ”

After speaking, he picked up his mobile phone and dialed Qin Qiuyue's private phone number.

After a while, the phone was connected, and Su Yu told Qin Qiuyue about the trading strategy plan that everyone had just formulated, and asked her to start preparing the position reduction and profit strategy of several main fund products managed by the 'Anzhao Fund' company, and at the same time, the corresponding trading strategy should be strictly kept confidential to prevent the trading strategy plan from coming out and causing a butterfly effect on the current market trend.

After listening to Su Yu's instructions, Qin Qiuyue was obviously a little surprised in her heart.

She didn't expect that Su Yu would choose to comprehensively reduce positions and take profits on all its main fund products at this time.

"Okay, Mr. Su!" Without any nonsense, Qin Qiuyue answered and hung up the phone.

And she stood beside Zhou Hui.

So, as soon as she hung up the phone, Zhou Hui, the fund manager of the company who had been watching the changes in the two markets, turned her head, looked at her with a smile, and said with some curiosity: "Is it Mr. Su's phone?" What did Mr. Su say on the phone? ”

Qin Qiuyue pondered for a moment and replied: "Mr. Su asked the main fund products managed by our company to gradually reduce positions and take profits, and reduce the overall position to less than 30%. ”

"Full deleveraging?" Hearing the news, Zhou Hui was also stunned.

Qin Qiuyue noticed the change in Zhou Hui's demeanor, smiled, and said: "Isn't it unexpected, I'm also surprised, at this time, it stands to reason that the overall market trend pattern is still very good, whether it is the Shanghai Index or the A50 Index, all of them have completely departed from the early platform, walking in the trend of continuous breakthrough, even the Shenzhen Index and the ChiNext Index have begun to break away from the early shock platform and form a breakthrough form."

It stands to reason that at this time, we should further increase our long positions and grab more excess profits in the market.

But Mr. Su let us make an immediate profit harvest and take profit in an all-round way.

This change in strategy is somewhat surprising.

However, our current position is indeed a lot of profit, and the entire net value has risen by 1.3 times compared to when we opened the position.

If you want to make a profit in time, there is no problem. ”

"Mr. Su asked us to reduce our positions and take profits, and generally reduce our positions to below 30%, which should not be the reason why our fund products are lucrative." Zhou Hui responded, then put his eyes back on the two markets, pondered carefully for a while, and only then did his eyes release bright colors, and said a little excitedly, "Mr. Qin, I seem to understand Mr. Su's intentions, the position of the market is indeed an adjustment risk, which is becoming more and more prominent, and if the market is around this position, there is an extreme adjustment, it is absolutely impossible to relax in the short term in a day or two." ”

"What intentions?" Qin Qiuyue was still confused in her heart.

Zhou Hui smiled, pointed out the K-line chart trend of the Shanghai Index and the Shenzhen Index in the market, and said: "You see, compared with the previous half a month, in the last week or so of the trading day, the increase in the turnover of the Shenzhen Index and the Shanghai Index has shown a downward trend?" ”

Qin Qiuyue glanced at it, found that it was true, and asked, "What does this mean?" Isn't the overall turnover of the market still showing a trend of rising step by step? Isn't the over-the-counter incremental capital group still continuing to enter the market and go long? Moreover, the investment sentiment, investment confidence, and money-making effect of the two cities, as well as investment risk appetite...... It's all on the rise! ”

For a moment, she didn't see what was wrong.

Zhou Hui smiled lightly and continued: "In the process of the gradual decline in the growth rate of the market's turnover every trading day, the breakout trend pattern of the Shenzhen Index and the Shanghai Index has accelerated.

On the one hand, it can explain the market's investment sentiment, investment confidence, as well as the money-making effect and investment risk appetite...... and so on, all of which are in a rapidly rising trend.

However, this also illustrates the continued rise in the market.

The market value of the entire market, as well as the volume of circulating disks, continue to increase significantly.

At the same time, there are a variety of favorable stimuli inside and outside the market.

The new investment funds that have been pouring into the market recently are gradually decreasing.

The market has become better, the money-making effect is stronger, the market sentiment of longs, and investment risk appetite are also rising rapidly, it stands to reason that the new investment funds pouring into the market should continue to increase significantly, there is no reason to gradually decrease, however...... The fact is that it happened. ”

"Huh......" Hearing Zhou Hui mention this, Qin Qiuyue's mind suddenly flashed with inspiration, and she seemed to understand, "Indeed...... Something seems strange. ”

Zhou Hui nodded and continued: "So we can't just look at the state of the market's turnover. ”

"Zhou Hui, do you want to say that the market turnover is approaching the threshold of one trillion, and the active investor groups in the two cities, the power of longs, has almost reached the limit, right?" Qin Qiuyue smiled, and finally understood, "After a month of continuous short rise in the market, from the left opportunity to the right opportunity, from the doubtful bull market, to the definitive bull market, and also pay attention to the market's investor group, under the influence of the market for a month, the vast majority of them should have been unable to help but enter the market to trade."

And when the vast majority of investors have entered the market.

Then, the group of new investors who will enter the market will naturally not be as many as before.

At the same time, the new incremental capital group will naturally fall into the process of gradual exhaustion. ”

"Yes, that's the truth." Zhou Hui nodded, and then said, "And this means that the bullish power that continues to be undertaken is currently in a process of continuous exhaustion, and at the same time, the entire market is still in a radical continuous upward trend."

And most importantly......"

Zhou Hui paused, and then continued: "That is, with the continuous surge in the market and the unilateral upward trend, in the current market, there should not be a small number of capital groups like our institutions that hold large positions and make large profits, and many investment capital groups chasing short- and medium-term opportunities should already be in a state of full profit.

These were once a group of investment funds that were firmly bullish in the market, under the large profits.

Especially in the case of gradually discovering that the market has gradually exhausted the follow-up of the bullish forces, and the market volume has reached the limit in the case of no great change in the macro monetary capital level, these funds ...... With a high probability, they will start to harvest profits and take profits just like us.

In other words, the current profit-taking order in the market is already very heavy.

Relying solely on the current amount of new funds and the new undertaking force of the bulls in a state of decay, it is difficult to undertake such a large group of profit-making funds.

This should be the fundamental reason why Mr. Su asked us to take profits in time and reduce our positions significantly at this stage. ”

"No wonder ......" After Zhou Hui's words, Qin Qiuyue has completely understood, and she fully agrees with Su Yu's strategic idea of letting her reduce her position and take profit, and said with a smile, "It's still Mr. Su's power, and he can always interpret the disk information from the disk that ordinary people can't find, so as to make a suitable trading strategy change, but ...... Isn't it still too pessimistic to reduce the position directly to less than 30% in one go? It stands to reason that as long as the basic logic of the bull market remains unchanged, the market adjustment should also be a benign adjustment, such as the extreme market adjustment on November 10, and then it quickly recovered, and even hit a new high? ”

In the face of Qin Qiuyue's questions, Zhou Hui continued to respond: "If the market is adjusted in this round after the new capital strength is exhausted, the adjustment structure is still significantly different from the wave on November 10, when the entire market was still in a bull market atmosphere and the large-scale incremental capital groups outside the market have run to enter the market."

At that time, the new incremental capital group in the market was in a state of rapid increase.

In that state, all high-quality chips in the market are scarce.

Not to mention that it only fell by a few points at that time, even if it was smashed back to 3,000 points, the market would quickly repair the decline and hit a new high in the short term.

However, now the volume of the entire market, and the explosion have reached a more extreme position.

At the same time, the new incremental capital group has begun to show a deceleration, and the market no longer has so many cheap high-quality chips.

In this case, the market will correct.

It can't be a short-term correction like the one on November 10, but it's likely a medium-term correction with space and time.

Of course, the basic logic of the market's bull market should not be shaken.

And this possible adjustment should also be a benign adjustment.

After a wave of adjustment, the market has adjusted a certain space, and there are more high-quality and cheap chips in the market.

At the same time, with the favorable landing of the central bank's monetary policy turn, there is still the passage of time, and the clearing of profits, the capital situation of the market will definitely improve significantly.

At that time, the market should reunite the strong long capital force and push the market up again.

I think this is also the reason why Mr. Su asked us to continue to retain a certain position after reducing our positions. ”

Qin Qiuyue thought about it carefully, and said with a smile: "You still understand it thoroughly, since this is the case, then let's not hesitate and start to reduce positions and take profit accordingly according to Mr. Su's strategy, oh...... By the way, in the process of reducing positions, we must also pay attention to one point, that is, we should not be too eager, we should not be too concentrated on selling chips, avoid the list of dragons and tigers in the two cities as much as possible, and we should not expose our trading seats early. ”

At present, the vast majority of major funding institutions in the market, as well as many small and medium-sized investor groups.

They already know that their institution is a related institution to the 'Yuhang Investment' institution led by Su Yu.

If they expose the trading seats of the company's institutions in the process of reducing positions and taking profits, it will inevitably cause people to think, thus completely exposing the investment strategy intentions of the main funds of the 'Yuhang system', seriously interfering with the implementation of this round of position reduction and profit-taking strategies, and endangering the current market situation.

"I understand!" Zhou Hui nodded and said, "In the extreme trend of such a short rise, with the assistance of extreme bullish sentiment, even though the bulls have begun to gradually decay, but in the case that the market money-making effect is still hot, especially many active main capital groups, they are still concentrating on a number of popular stocks in the market, and in the process of rushing to raise funds to hit a new height, the excessive accumulation of profit disks should also maintain a period of optimism, carry out corresponding lock-up operations, and let profits continue to run."

At this time......

Let's reduce our positions step by step, avoid the data of the dragon and tiger lists of the two cities in a timely manner, first reduce the liquidity of the disk, and then reduce the liquidity of the disk.

It should not expose our trading seats, so as to successfully complete the position reduction and take profit plan. ”

After speaking, Zhou Hui did not wait for Qin Qiuyue to give another order, and then called a group of traders in the trading room for a short meeting for a few minutes, made corresponding trading strategy instructions, and officially started the position reduction and profit plan of several main fund products under its management, and harvested profits in a timely manner.

And when the main fund products of the 'Anzhao Fund' series adjust the investment strategy and trading strategy in a timely manner.

The trading time of the two markets has also entered around 10:30.

During this period of time, whether it is the Shanghai Index, the Shenzhen Index, or the ChiNext Index, the Small and Medium-sized Board Index, and the A50 Index, it is still rapidly and continuously breaking through.

At this moment, the Shanghai Composite Index still refreshed its intraday gains to a 1.78% increase.

At the same time, the A50 index rose by 2.19% during the day.

There are also Shenzhen Index and GEM Index, and the intraday gains at the moment have also reached more than 1.3%.

In addition to the performance of the market's major core indices...... A number of popular core areas in the market, such as 'big finance', 'big infrastructure', 'military industry', 'film and television media', 'sub-IPO' and other mainline-related industry sectors and concept plates, have continued to make strong breakthroughs.

Among them, the securities sector index and the building decoration sector index have already stood on the intraday 3% rise.

The 'Internet Finance' sector index, the increase at this moment, reached 4.22%, and the corresponding constituent stocks in the sector have once again set off a pattern of rising and falling.

At 10:31, 'CEFC Securities' crossed the 5% increase, and the intraday trading volume, after an hour of trading, has reached the 3.7 billion mark.

At 10:32, the intraday increase of 'Huagong International' touched 6%, and the intraday turnover reached 2 billion.

At 10:33, 'Huaguo Construction' broke through a 5% increase.

At 10:34, 'China Airlines Heavy Machinery' once again hit the price limit, and at the same time, the 'national defense and military' industry sector index rose by 3% during the day.

At 10:35, in the 'banking' sector, 'civil commercial banks' rose more than 6%.

At 10:36, the intraday increase of 'Straight Flush' once again touched the 7% mark, and the intraday turnover rate reached 10%.

At 10:37, 'Oriental Wealth' rose by 6% in the day, and at the same time, the three musketeers of 'Internet Finance' once again all squeezed into the top ten of the hot list of investor groups in the two cities.

At 10:38, 'Pacific Securities' closed the daily limit, and in the field of the securities sector, 4 brokerage stocks have closed the daily limit.

At 10:39, the two major weighted sectors of banking and insurance rose by 2.67% during the day.

At 10:40, 'China Airlines Heavy Machinery' completely blocked the price limit, and all the industry sectors and concept plates in the two cities achieved a red plate state.

At 10:41, in the field of 'Internet finance', more than 5 stocks rose to the limit.

At 10:42, 'Bayi Steel' hit the price limit.

At 10:43, 'Yingkou Port', a demon stock that has performed strongly recently, also hit the daily limit under the continuous attack of 10,000 large orders.

At 10:44, the hourly trading volume of 'Yingkou Port' reached 179 million.

At 10:45, the "Yingkou Port" that rose in a straight line closed the price limit, and at the same time, the "port shipping" plate, as well as the "Eurasian Economic Belt" and the "Northeast Revitalization" two major conceptual theme plates, showed a straight line upward trend.

At 10:46, the main line of the concept of "reform and reorganization of central enterprises and state-owned enterprises" changed across the board, and a number of "national reform" concept stocks have ushered in a large number of main buy orders.

At 10:47, 'Huagong International' rose by 7% in the day, continuing to refresh new highs on the market.

At 10:48, the stocks of the two major central enterprises, 'Huaguo South Car' and 'Huaguo North Locomotive', rose in a straight line at the same time, and the turnover of the two stocks quickly exploded to more than 1 billion.

At 10:49, the entire sector of the 'Shanghai Free Trade Zone' sprung up, with the 'Shanghai-Hong Kong Group' rising 3.5%, and 'Waigaoqiao' and 'Lujiazui' rising more than 4%.

At 10:50, 'Huatong Securities' hit the daily limit.

At 10:51, the 'securities' sector index broke through the 4% mark during the day.

At 10:52, the net inflow of the main funds in the 'securities' sector reached 3 billion again, and the intraday turnover of the entire sector has reached 50 billion at this moment.

At 10:53, 'Huaxin Insurance' rose more than 5%.

At 10:54, the Shanghai Composite Index rose nearly 2% during the day and stood above 3620 points.

At 10:55, in the field of 'new stocks', the near end of the new stocks broke out again.

At 10:56, 'Huaguo Railway Construction' and 'Huaguo Zhongjian' rose by more than 5%.

At 10:57, the number of stocks in the green state of the two cities was reduced to less than 100, and the money-making effect of the market once again reached the extreme.

At 10:58, the number of natural daily limits changed hands in a single day, and the number of natural daily limits was as high as 81.

At 10:59, the turnover of the two cities has broken through to the 460 billion mark.

At 11 o'clock in the morning, the Shanghai Composite Index officially touched the 2% growth mark, and the strongest A50 index once again touched the 2.5% growth mark.

At the same time, from the K-line pattern of the Shanghai Index and the A50 index.

The two major indexes have completely departed from all the support averages below and walked out of the continuous and fierce main upward trend.

After the market trading time enters 11 o'clock, it begins to enter the middle of the last half hour before the midday close.

The main trading volume of the two cities, as well as the bulls to undertake the force.

It began to further converge to the major core main lines of the two cities, as well as the popular leading stocks and blue-chip stocks with the weight of the main line of major conceptual themes.

Among them, the trading volume of large-cap blue-chip stocks and popular concept leading stocks continued to skyrocket.

Many non-popular mainline stocks, as well as a large number of marginal mainline stocks, began to decline in disk trading volume, but this phenomenon was briefly covered up by many popular stocks that were extremely sudden and showed a strong money-making effect, as well as mainline weighted stocks, and did not get much attention from investors.

And, what people don't notice even more is......

In many of the 'big finance', 'big infrastructure', 'military industry' and other popular mainline related industry sectors, concept sector constituent stocks.

The volume of active selling orders has begun to suppress the volume of active buying orders.

That is, the disk of related stocks has shown obvious upward pressure, and the trend of a number of popular mainline stocks, the differentiation trend is also gradually expanding.

It's just that the index has been kidnapped by the continuous surge of a number of weighted stocks, and it can't be seen at all on the surface.

And under the extreme bullish sentiment, not many investors will delve into this.

Everyone is just frantically reducing their holdings of relatively weak stocks, focusing on chasing strong popular stocks and mainline weighted stocks to maximize the excess returns of the market. (End of chapter)