"Isn't that normal?" Beside Su Yu, Li Meng, who was also sitting in front of the computer, responded, "Don't forget, more than 80% of the participants in our big A market are retail investors with certain cognitive defects, of course...... Most institutions aren't much better.

Since more than 80% of market participants are retail investors who are easily affected by emotions.

Then, it is normal for the market trend to be too extreme.

However, it is still somewhat surprising that the index can quickly recover its intraday losses and quickly hit a new intraday high in the state of a huge shock correction in early trading today.

This illustrates the underlying strength of the market, as well as the potential bullish power.

It's stronger than we expected!

Of course, such an extreme continuous change in sentiment and the short-selling trend of the market, even if it temporarily retracts the decline of the market and stabilizes the concentrated selling of the day-to-day profit and unhedging orders in the market, it is impossible to change the trend that has changed between the potential selling and buying forces in the market.

The eventual market correction will still come.

Moreover, because the index refuses to pull back at this position, it is still concentrating a lot on the potential buying power of the market, while continuing to increase the large number of profit-taking and unhedging chips deposited in the market.

Then, it is naturally bound to cause a more violent adjustment in the subsequent market adjustment stage. ”

"That's right." Su Yu nodded lightly and said, "At this time, the market refuses to pull back and continues to force the short to rise, but it will increase the adjustment depth and adjustment time for the subsequent market to enter the adjustment stage, but ...... The market follows this pattern, which is still very conducive to our continuous reduction of positions at a relatively high level. ”

Originally, he was worried that the market was in this position.

In the case of the potential selling power in the market, which has gradually exceeded the potential bulls to undertake the buying power, and there is a loosening of the chip structure.

A number of major capital groups in the market will soon form an expectation that the market will continue to adjust.

As a result, they will concentrate on selling the profit chips in their hands and suppress the market disk, so that the market will soon have a corresponding pullback trend, which will not leave them too much time to reduce their positions and take profits.

However, look at it now......

It seems that the main financial groups in the field.

For the year-end fund ranking and performance reflection, under the influence of greed, there is no such a consistent expectation.

And judging from the performance of the disk.

Many major funds are not only unaware of the huge risk of a correction in the market.

On the contrary, it is still rapidly focusing on position adjustment, frantically chasing core mainline stock chips such as 'big finance', 'big infrastructure', and 'military industry', which have fulfilled some short- and medium-term expectations.

"Hmm!" Li Meng nodded and said, "According to the current market trend performance, the Shanghai Index should continue to force short for a period of time, until the most radical and powerful part of the market is consumed to take the initiative to undertake the buying funds, until the buying orders are undertaken, and they are completely unable to bear the profits and unhedging chips of concentrated selling. ”

"How many positions have we lost in the past two days?" Su Yu asked.

Li Meng took a closer look at the changes in the position data of several major fund products on the main control computer in front of him, and said: "A total of 7% of the positions have been released." ”

"It's too slow." Su Yu frowned.

Although he expects the market to leave them at least a week or so for trading operations.

But at this rate of deleveraging.

Even if the market will give such a window of about a week for trading operations, when the market trend reverses, they still have no way to reduce the established target position.

Li Meng sighed helplessly and said: "The four main fund products, the four trading groups, everyone has been working hard to clear the relevant stock chips in accordance with the established trading strategy, but how many of our fund products, as well as several fund products managed by its 'Anzhao Fund', the total position size is too large, plus we must reasonably avoid the disclosure of the market's dragon and tiger list data, do not expose our trading seats, and do not concentrate on pending orders to sell, which cannot affect the emotional performance of the market too much...... Under this strategy, it is not bad to be able to reduce so much in two days.

This is still the case of good liquidity in the market.

If there is a large amount of main capital groups in the market, following us to concentrate on selling, the number of chips to reduce positions every day may be lower. ”

Seeing that on the main control computer, the current main fund products still have a total position scale of more than 170 billion.

Li Meng also really realized it......

The larger the scale of asset management, the more restricted it is in trading.

Now the scale of their fund, whether it is to build a position or reduce a position, it is not easy, and it is difficult not to attract the attention of other major funds in the market.

Of course, this is also a lot of major funding institutions, after the scale goes up.

The fundamental reason why performance is getting harder and harder to do.

Because of the existing liquidity, the management of fund products with too large scale has to give up a lot of opportunities that can be done with small funds, and at the same time, it is necessary to fully predict the subsequent market changes and trend changes in the market, in other words...... It's basically the equivalent of dancing in shackles.

Therefore, in the market, there are many large-scale fund products.

Fund products with long-term good performance will be so rare.

"But ......"

Li Meng paused, and then said: "What we are currently mainly reducing our positions now is the main line non-popular stocks with relatively average liquidity on the disk.

If you wait for the chips of these stocks, the reduction is almost over.

The main target is to put on a number of popular stocks and leading stocks with abundant liquidity on the disk.

The speed of reducing positions and taking profits should be much faster. ”

"It's better to speed up as soon as possible." Su Yu said, "Although the current market trend is still in a situation where the bulls have an advantage, and the good news about the central bank's interest rate cut and RRR cut is still in a state of strong expectations, it is still expected to be strong, but ...... I'm still worried that the market won't give us much of a window to reduce our positions and take profits. ”

"Understood." Li Meng nodded and said, "I will ask the fund trading managers and trading groups to speed up the speed of reducing positions, but the speed is faster, it should be difficult to hide our trading behavior and related selling actions." ”

Su Yu thought about it and felt that at this time, there was no need to be greedy for the fishtail profit before the index adjustment, and finally took advantage of the good fishtail profit, and couldn't help but say: "Try not to concentrate on actively selling and killing, staring at the follow-up of the buying order, and selling it in a targeted manner."

However, it is possible to reduce all holdings at the same time.

Of course, if the intraday amplitude or increase is too large, it is still necessary to pay attention to the stocks that can be on the intraday dragon and tiger list, and temporarily avoid such stocks.

At least before our fund position is still above the 60% water level.

We cannot expose the relevant trading seats of our fund, which will cause a chain reaction in the market. ”

Even if the market value of the two core main lines of 'big finance' and 'big infrastructure' is very large, the related disk liquidity accounts for nearly 50% of the volume of the entire market.

However, they have 4 main fund products, plus several main fund products of the 'Anzhao system'.

In total, there are almost 200 billion holdings.

This volume of positions, once its motive for large-scale selling and reducing positions, will be completely exposed to the dragon and tiger lists of the two cities.

Then, in the case of a large number of follow-up orders and follow-up selling, it is still difficult for them to achieve the established purpose of reducing positions and lock in excess profits.

Therefore, in order to maintain these excess profits, the floating profit is locked in to the greatest extent.

Before the upward trend of the market changes, it is definitely necessary to try to avoid the list of dragons and tigers in the two cities.

"Okay." Li Meng continued to nod.

Immediately, the trading strategy formulated by Su Yu and the precautions were conveyed to all the traders in the trading room before the market opened in the afternoon.

At the same time, she also changed the relevant trading strategy by phone.

It was conveyed to Qin Qiuyue, the person in charge of the 'Anzhao Fund' company, so that the several main fund products managed by the other party can also be strictly implemented in accordance with this trading strategy, so as to avoid inadvertently, several main funds under the Anzhao Fund Company have exposed the motivation of the entire institution to reduce positions and take profits.

In the 'Yu Hang system' of fund products, began to further change the trading strategy.

and ready to continue to aggressively reduce positions sharply.

The one-and-a-half-hour break at noon has passed in a flash.

Subsequently, 1 o'clock in the afternoon came, and the two cities ushered in the afternoon continuous auction trading session.

I saw that after the further brewing of bullish sentiment at noon and the stimulation of off-market news at noon, as soon as the market opened, the bullish funds were attacked again.

At 1:01, the Shanghai Composite Index, the Shenzhen Index, and the ChiNext Index once again refreshed the intraday high.

At 1:02, the two weighted stocks of 'CEFC Securities' and 'Huaguo Construction' continued to explode and rose sharply to more than 2.5%.

At 1:03, the 'Straight Flush' rose 4% during the day.

At 1:04, the share price of 'Shanghai Ganglian' hit the daily limit.

At 1:05, the stock price of "Shanghai Ganglian" was closed, and at the same time, the "securities" sector index and the "Internet finance" sector index rapidly expanded to 2% in the day.

At 1:06, the two stocks of 'Huaguo South Car and Huaguo North Car' moved again.

At 1:07, the stocks of the four major banks, "Huaguo Bank, Huashang Bank", "Huajian Bank, and Huanong Bank", have expanded to about 1% in the day, and at the same time, the banking sector index has also risen by more than 1%, of which, such as "Muddy Bank", has risen by more than 5%.

At 1:08, the stock price of 'Bluestone Heavy Equipment' after the earthquake rose by 5% during the day.

At 1:09, in the field of 'film and television media', the stock of 'all-access education', which has the concept of 'Internet online education', also changed, and the stock price rose sharply.

At 1:10, Guangguang Media and Huayi Brothers moved.

At 1:11, Shougang Co., Ltd. and Wuhan Iron and Steel Co., Ltd. ...... and other steel stocks moved.

At 1:12, the share price of 'Huaguo China Railway' hit a 5% increase, and at the same time, the check of 'Huaguo China Metallurgical' rose by 8% in a day.

At 1:13, the two major industry sector indices of "building decoration" and "building materials" have broken through the 3% increase in the day, and within the plate, the main funds have shown a substantial inflow, especially the "Huaguo Construction" stock, the net inflow of the main funds in the day has reached more than 450 million.

At 1:14, the intraday increase of 'Huagong International' also broke through the 5% mark.

At 1:15, Huaxin Cement, Conch Cement, Huaguo Building Materials, Tianshan Cement ...... and other "cement" stocks rose strongly, and the "cement" concept plate index rose rapidly by more than 2%.

At 1:16, a number of conceptual theme plates in the main line of 'big infrastructure' broke out across the board.

At 1:17, the conceptual theme plate index of 'On the Road of the New Era, Maritime Silk Road' has risen by 2.37% in the day.

At 1:18, the concept of "reform and reorganization of central enterprises and state-owned enterprises" also sprung up.

At 1:19, the Shanghai Composite Index expanded its intraday gain to nearly 1.5%, and at the same time, the A50 Index rose to 1.87%.

At 1:20, the number of stocks in the two cities naturally changed hands to reach 50.

At 1:21, the number of red stocks in the two cities has risen to more than 1,500, and the core main line areas of 'big infrastructure', 'big finance' and 'military industry', all related industry sectors and concept plate indices have all achieved the state of red plates.

However......

Just when everyone thought that today's market was repaired after the morning diving repair.

And after all kinds of news at noon.

It will continue to rise along the current disk pattern, as well as the main line pattern, and continue to refresh the new disk high.

At 1:25 a.m., such as 'Huaguo Construction, Huaxin Securities, Huashang Securities, Huatai Securities, Huatong Securities, the Big Four Banks, Huaguo Taibao, Ping An Insurance, Ping An Bank, Huaguo China Railway, Huaguo Railway Construction, Huaguo Communications Construction ......' and a large number of "Huazitou" "big infrastructure" and "big finance" hundreds of billions of dollars, or even trillions of super-weighted leading stocks with a market capitalization, have appeared on a larger scale.

These selling forces instantly suppressed the continuous upward trend of the stock prices of these weighted leading stocks.

As a result, these weighted leading stocks have once again fallen into a sharp expansion of time-sharing volume, but the stock price has always been difficult to break through the upward stagflation.

At the same time, many of the 'big finance', 'big infrastructure', and 'military' mainline small and medium-cap stocks that followed the trend.

At this moment, this is also the case.

Even, the original rapid upward movement, the intraday increase has broken through the 7% mark, showing a trend of the limit of the 'Huaguo Metallurgical', but also by the continuous main selling of 10,000 large orders, directly pushed the stock price back to around the 5% increase.

Of course, there are several small-cap leading concept stocks in the main line areas.

As well as some popular concept leading stocks with high market attention and very violent market fluctuations.

At this moment, the trend is more stable, and there is no such pattern of stagflation, as well as the active selling of a large number of days. (End of chapter)