Xu pondered for a moment and replied: "It should be unlikely, the current attitude of the regulator is to activate the market and stimulate the development of the market bull market, rather than suppressing the market, so the 'national team' in the field has no motivation to take the initiative to reduce its holdings at this time."

Moreover, if it is really the main capital of the 'national team', it is withdrawing from large-scale reductions.

The leading stocks in securities, banks, and insurance, which are also the core positions of the main capital of the 'national team', should not be without the same market changes.

Therefore, this stock is the main capital that has reduced its chips on a large scale on the market and suppressed the market on the market.

Most likely, it is not the 'national team' capital group. ”

"Who could that be?" Zhou Kan thought for a while and said, "Judging from the disk traces of many stocks, the amount of funds that have been secretly reduced should be very large, and the range of individual stocks held is very large, not limited to a certain stock, or a few stocks." ”

"Although it is not limited to a certain stock, or that a few stocks are selling, but ......," Xu Shen paused, and continued, "It can be seen from the disk that there is obvious stagnation in volume, and the main line of individual stocks with the most intense long-short divergence is mainly concentrated in the main line areas of 'big finance', 'big infrastructure', and 'military industry'." ”

"Concentrated in the main line of 'big finance', 'big infrastructure', and 'military industry'?" Zhou Kan took a closer look, and sure enough, he found that Xu Shen said this phenomenon, and at the same time, he also found that there were several main lines of stagnation and fierce long-short divergence, and there were many stocks that could coincide with the 'Yuhang system' position concept stocks summarized by the market...... At present, in the market, the main funds that are selling off these non-popular weighted stocks in the main line field and other constituent stocks on a large scale are most likely to be the main line chips in the main line of "big finance", "big infrastructure" and "military industry", and the main line of "big finance" and the main line of "big finance" and the main line of "Yuhang system" that opened the curtain of the bull market in the market? ”

Xu Shen bowed his head slightly and said: "It's completely possible, but before this capital is completely exposed to market disclosure, I am just guessing." ”

Zhou Kan pondered for a moment and said, "Shouldn't it?" Whether this capital is reducing or increasing positions, it has always been vigorous! ”

"Trading strategies, with the change of asset management, will continue to change." Xu Shen said, "Follow the past history, so as to face the future market trend, and follow the past market historical information, or past experience, to analyze the current market situation, is tantamount to carving a boat to seek a sword, the main capital of the 'Yuhang system', the current total asset management scale, should have been more than 200 billion, right?"

Such a large amount of capital holdings.

If you still follow the previous trading model of this stock and have to eat up the last trace of profit in the market, it is very likely that it will be due to the problem of market liquidity.

When there is a significant change in the market situation, it can't come out.

Therefore, they must make a prediction of the market, feedback the market in advance, and make corresponding trading strategy changes.

In order to maintain the initiative in such a huge amount of funds.

Of course, this kind of prediction in advance may be right or wrong, and it may bring good feedback to the net value performance of the main fund, and it may also bring bad feedback to the net value performance of the fund, all of which ...... It all depends on the trader's analysis of the market and the true level of future market prediction.

And there is no doubt about it......

Analyze according to the current market trend.

The main capital of the 'Yuhang system' is likely to be at this market node, and it is relatively bearish on the market outlook.

Of course, it is also possible to passively reduce positions in view of the net value liquidation of this main fund at the end of the year, but the probability of this motivation is small. ”

"If it is really the 'Yu Hang Department' that the funds are reducing positions on a large scale......," Zhou Kan said, "I am afraid that the current trend risk of the market is really not small, and the huge volume of the 'Yu Hang Department' funds, as well as its related trading seats, will have an impact on the entire market investor group."

Once the motivation of this fund to reduce positions is completely exposed, it will be disclosed by the market information.

The other main funds that follow this capital to reduce positions and take profits are certainly not a few in the case of substantial profits.

And this chain reaction will inevitably lead to the collective loosening of the chip structure of the market's profit-taking market, right?

Once the market's profit-taking chips and unhedging chips are collectively loosened, the concentrated selling pressure of the market will naturally follow.

When the time comes......

I am afraid that with the new incremental capital group outside the counter that has been gradually declining, it is simply difficult to withstand such a rapid and concentrated selling force, and quickly complete the transformation of the internal chip structure. ”

"That's right." Xu Shen nodded and said, "Therefore, the market at this time, the higher it continues to rise, the more the core main line areas of 'big finance', 'big infrastructure', and 'military industry', a number of ordinary constituent stocks, and the trend gap between the popular weighted stocks and concept leading stocks related to them are getting bigger and bigger, and the extreme adjustment risks that may exist are getting closer and closer." ”

"Then we ......" Zhou Kan asked with a little worry in his heart, "Do you also want to follow the large-scale reduction?" ”

Xu thought about it for a while and said: "The current asset management scale of our institution can only be regarded as a small scale compared to the main capital of the 'Yuhang Department', and there is no situation where we need to focus on market liquidity, so ...... It is okay to gradually reduce positions slowly and slowly according to the order of 'weak to strong' holdings, but there is no need to be like the other party, pressing the market and staring at the continuous buying orders for large-scale selling.

After all, market sentiment and bullish confidence, as well as all kinds of positive news inside and outside the market, have not reversed.

Even though the new entry capital flow of the market has gradually fallen into a state of decay, the aggressive active buying capital group is unlikely to be able to fully undertake the market market.

However, relying on the inertia of the trend and the short-term money-making effect of the hot market.

Several major indices in the market, especially the strongest Shanghai Index and A50 Index, will continue to rise for a period of time under the support of sentiment and money-making effect, according to the inertia of the trend.

In other words......

For our institution, we have ample time to reduce positions and take profits.

Therefore, according to the trading strategy we formulated earlier, it is enough to slowly reduce positions and exit.

And ......"

Xu Shen paused, smiled, and continued: "If the current disk, it is really the main fund of the 'Yuhang Department' that is secretly selling chips on a large scale, then the reason why this fund does not take the initiative to sell and suppress the disk of many individual stocks, and the amount can be amplified on the relevant stock disk, through the gear pending orders, you can't see the huge selling pending orders in front of the gear...... I'm thinking that the other party should still not want to expose his seat at this stage and let other main funds perceive him if he sells in this form.

Since the other party does not want to expose its seats, it does not want to cause excessive violent shocks and market changes in the market.

Then there is no need for us to intensify the market.

After all, we ourselves are potential bears in the market.

Maintaining this strong state on the surface of the market, allowing more incremental funds to come in to undertake the market, and take the initiative to undertake the chips we sell, so that we can calmly reduce our positions before the market adjustment risk comes, for us...... There are also great benefits.

In other words, we must also stand on the same position as the main funds of this sell-off. ”

"Got it!" Zhou Kan nodded, "Then I will follow the trading strategy we formulated before, and carry out the operation of slowly reducing positions and taking profits." ”

After speaking, he put his gaze back on the trading board of the two markets again.

I saw that after the analysis and conversation between the two people, the trading time of the two cities, at this moment, has entered the time node of 10:30.

And after an hour of intense transactions.

After the market excessively consumed the incremental buying power accumulated by the bulls' sentiment in the morning, the market has begun to show a volatile sideways trend and will no longer continue to move sharply.

And, as the trading time goes by......

On the disk, 'big finance', 'big infrastructure', 'military industry' and other core hot main line areas.

The gap between the trend of a group of ordinary constituent stocks and the trend of a group of popular weighted stocks and concept leading stocks is getting wider and wider.

Many popular weighted stocks and concept leading stocks are still fluctuating and rising.

These ordinary constituent stocks have fallen into a sideways shock trend of stagflation, and they have not kept up with the rise of the sector index, as well as the strong Shanghai Index and A50 index.

As for a number of non-popular mainline constituent stocks.

It basically maintains a sideways shock mode of no volume or shrinkage, and there is still no centralized care of the main funds, as well as the concentrated speculation of various active funds.

At 10:40, the market was still sideways, and the overall energy of the two cities began to decline.

At 10:50, there was a disagreement on the board of 'Huagong International'.

At 11 o'clock in the morning, the Shanghai Composite Index and the A50 Index began to decline from a sideways state of violent shocks, and turned into a slow pullback pattern.

At 11:10, the core main areas of 'big finance', 'big infrastructure' and 'military industry', as well as related industry sectors and concept plates, have no sector to hit a new high, and even the strongest securities sector and Internet finance sector have fallen from the highest intraday increase of 2.78% to around the 2% intraday increase.

At 11:20, the intraday turnover rate of 'Bluestone Heavy Loading' reached 22%, and the disk increase slipped from approaching the price limit to around 6%.

At 11:25, the intraday turnover rate of 'Straight Flush' reached about 15%, and the stock price also fell back to about 5%.

Finally, when 11:30 a.m. came, the two markets ushered in the closing.

I saw that Shanghai was listed at a 1.17% increase, and in the last half hour, it fell back a lot; Similarly, the intraday increase of the A50 index also fell back to 1.51% to close, and the related core constituent stocks and disk trends all showed a large-scale decline or large-scale stagflation.

As for the deep index, the GEM index, and the small and medium-sized board index.

The intraday gains of the three major indexes have fallen back to below 1%.

Moreover, most of the main line areas and related constituent stocks that have a strong correlation with these three major indices have recently shown a trend of shrinkage and shock.

Such a closing situation is completely different from the market performance in early trading.

It can also be said that it is seriously inferior to the psychological expectations of a group of firm long-headed capital groups inside and outside the market.

"What are you doing, rushing up and falling back?"

After the noon close of the two markets, during the short break, the vast number of retail investors gathered in the discussion area of the trading platform, and the discussion was still extremely intense.

"A benign pullback, don't worry, it will definitely go higher in the afternoon."

"In the market, although the major popular stocks have fallen, the upward trend has not changed, continue to be bullish, firmly bullish."

"The pullback is to add a little more turnover, and I don't think there's a problem."

"Even if it is the result of the noon close, whether it is the Shanghai Index, the A50 index, or many popular stocks, they still closed at a new intraday annual high, is there anything wrong with this? Even if it is a bull market, the market is also dynamic, how can there be no pullback at all on the disk trend? ”

"Afraid of what? In the first two days, and even some time ago, which day did the market trend not dive? But what is the end result? Isn't the Shanghai Composite Index still reaching new highs? ”

"At this time, if you are worried about this position, how can you hold the chips?"

"If you're not optimistic, it's better to sell it quickly, I'm afraid I won't be able to buy cheap chips."

"If you shake it, you will go further, anyway, no matter how the main force shakes, in a word...... Don't sell! ”

"Everyone, remember that this is a bull market, the market is so volatile, it's just that the main force that doesn't have enough chips is shuffling, and they just want to cheat the chips, hold it, hold the chips...... in order to earn subsequent excess profits. ”

"It is said that 'guarding stocks is like keeping widows', if you can't withstand this shock, you can't hold the bull stocks, right?"

"The trend of the index has not flattened yet, what are you afraid of?"

"And the market is so good, so much incremental funds waiting to enter the market, how can there be any room for decline? The main capital just dares to play this kind of small trick of intraday shocks, and has the ability to smash deeper. ”

"Hehe, it's deep, the main funds that smash the plate and wash the chips will definitely lose the chips."

"One word, buy! Just keep buying. ”

"Look, after the afternoon open, the Shanghai Composite Index will definitely reverse the pullback decline in the morning and continue to hit a new intraday high."

"In the past week, basically the afternoon is the main event, and I am strongly optimistic about the market in the afternoon."

There are many retail investor groups in the heated discussion......

At the same time, inside and outside the market, and even on the macro news side, various information, as well as the corresponding good news, are also constantly refreshing.

Among them, there is a news that the establishment of the 'Asia-Pacific Bank' will firmly support and assist in the implementation of the national macroeconomic strategic plan of the 'New Era Road, Maritime Silk Road', which has attracted everyone's attention, so that more and more investor groups, including the main capital institutions, will once again turn their attention to the concept and theme direction of 'New Era Road, Maritime Silk Road'. (End of chapter)