Chapter 619: Funding Differences in ‘High and Low Switching’!

Xu Xiang nodded slightly and said: "Since the two major industry lines of 'infrastructure' and 'military industry', as well as the concepts of 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises' The expected trend of adjustments in the main theme area is getting stronger and stronger. Funds in this area can no longer form a synergistic force, so lighten up your positions!

However, the increase in positions in the general financial direction...

Although the current market does have signs of funds switching between high and low.

However, it has clearly switched the direction of the main line. At present, it is still unclear in which direction the funds will go to join forces to go long.

Although we are optimistic about the next market performance, the main line of 'big finance' can replace 'big infrastructure', 'military industry' and other popular main lines that are already at a relatively high level in the market and have strong adjustment risks, but expectations are always just expectations. Whether expectations can be fulfilled ultimately depends on the actual trend of the market.

Therefore, it is possible to increase positions in the 'Big Finance' line, but don't be too anxious and just start large-scale positions right from the beginning.

We have to ensure that if the market does not develop according to our expectations and expectations.

When the process of 'high-low switching' is completed, the main line of market funds can be formed. When it is not the main line of 'big finance', we can also adjust positions in a timely manner to keep up with the rhythm of the market.

In short, when implementing the trading strategy.

Especially when the current market trend is unclear and there is switching and uncertainty in the main line.

We must pay great attention to the position of the position. It cannot be too high or too low. Before the market trend becomes clear, we must not intervene too deeply in other main line layouts that have not come out and have not formed a synergy of market funds. We must maintain our understanding of the position. Only the initiative in market changes will do. "

After hearing Xu Xiang's instructions, Zhou Kan nodded and said, "Okay, adjust positions slowly and incrementally, while keeping an eye on changes in market conditions."

After saying that, Zhou Kan turned around and immediately gave orders to several trading groups in the trading room.

Within the trading strategy guidelines mentioned by Xu Xiang, relevant trading instructions are executed quickly.

At the same time, Yuhang, Jingda Investment Company, and the main fund trading room also realized that in the market, the two main industry lines of 'infrastructure' and 'military industry', as well as those surrounding the 'Eurasian Economic Belt' and 'New Era Road' , Maritime Silk Road', 'Reform and Reorganization of Central and State-owned Enterprises' and other sectors related to the development of core concepts, as well as many core component stocks and popular concept stocks, have already seen loose chips, and fund manager Lin Tingzong has huge callback risks. At this time, With his eyes staring at the market, he also had the idea of ​​adjusting positions and changing investment direction and investment ideas.

“It feels like the market trend is not stable today!”

While Lin Tingzong was pondering, Gu Chijiang, the general manager of the company, said with emotion: "According to market expectations, today should have been a market trend that continued to break upward. However, in the core concept of the entire market, whether it is the 'infrastructure' or 'military industry' related sectors Individual stocks, or a group of related concept sectors centered on the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'Reform and Reorganization of Central and State-owned Enterprises', as well as their related stocks and market trends, have clearly emerged. There are signs of high volume and stagflation, or signs of stagnation.

Such traces of market trends...

It should be able to explain that the internal positions of these core main lines have accumulated funds, and they are continuing to take profits at this moment, right?

At the same time, there seem to be signs of changes in the main lines such as 'big consumption', 'technological growth', and 'big finance'. These main line sectors that were relatively weak before are now performing better than the funds that have been gathering together to speculate. 'Infrastructure', 'Military Industry' sectors, as well as related concept sectors that are hyped around concepts such as 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', 'Reform and Reorganization of Central and State-owned Enterprises'.

This should also mean that the funds that have retreated from high levels are flowing into low levels, right? "

"Yeah!" Lin Tingzong nodded slightly and responded, "Judging from the market trend and the traces of main capital flows, the market does seem to be doing a 'high-low switch'.

Just looking at it for now...

It is still unclear who among the major low-level mainline sectors will be the funds to take over the high-level exits, form a new form of capital gathering and speculation, and condense market sentiment and continue to make money. "

"Which main line do you prefer?" Gu Chijiang asked.

Lin Tingzong thought for a while and said: "Judging from market expectations and the intensity of the current financial attack, I feel that the 'technological growth' line will have a greater chance of taking over popular mainline markets such as 'infrastructure' and 'military industry' from a low position. After all, after this quarter's adjustment, the line of 'technological growth' is obviously more cost-effective compared to June.

At the same time, in areas such as 'Internet Finance', 'Mobile Internet', 'Smartphone Industry Chain' and other main lines of 'technological growth', both industry scale and performance growth are taking place in real terms, and their future expectations are also Still improving.

Let’s look at the corresponding core stocks in these major areas.

After several months of adjustments, not only has it failed to keep up with the sharp rise in the Shanghai Stock Index, but it has fallen back quite a bit.

At the same stage, the Shanghai Stock Exchange Index rose by nearly 20%.

Expectations for the future continue to increase, the overall market valuation is reduced, and the index is rising rapidly... Considering these factors, in a sense, the line of "technological growth" has the logic of compensatory growth.

There is also... based on the past historical performance of the market.

Usually, there is an obvious seesaw effect in the market prices of the main board of the Shanghai Stock Exchange Index and the market prices of "growth stocks" in the direction of the small and medium-sized board and the GEM.

For example, last year, the prices were mainly in the "growth stock" field of small and medium-sized boards and GEM. The GEM index almost doubled last year, while the Shanghai stock index remained motionless.

This year, it’s just the other way around.

But now, when many funds clearly feel the direction of the main board, the chips in the "big infrastructure" field have begun to loosen, and they are seeking to switch the market high and low.

That depends on investment inertia and thinking inertia.

It is highly likely that many major funds will converge on the main line of ‘technological growth’.

What's more, the line of 'technological growth' is already sufficiently cost-effective at its current position. As long as funds are gathered and the market forms a synergy in this field, it will be able to create a sustained market trend. "

Gu Chijiang heard Lin Tingzong's analysis, pondered for a moment, nodded slightly and said: "The line of 'technological growth' is indeed worth noting, but I think... the market will not simply repeat, right? The overall market volume this year can , is already much higher than last year. There should no longer be an obvious seesaw trend between the Shanghai Stock Exchange Index, the Small and Medium Enterprises Index and the ChiNext Index, right?

After all, both cities are now almost able to maintain a capacity of 400 billion.

With this level of volume, the 'technological growth' line should not be able to absorb so much major capital. At the same time, I feel that the 'technological growth' line, despite its strong future expectations, does not support the growth of many popular core stocks. Performance has never been able to catch up significantly, and there is still the risk of logical falsification. At the same time, the majority of investors in the market should also have certain concerns about this main line area.

I think……

Comparing the line of 'technological growth', the two main lines of 'big consumption' and 'big finance' are not without opportunities, right?

The current valuation of the 'big consumption' line can be said to be very low. White goods stocks such as 'Gerry Electric, Midea Group, Haier Electric...', as well as 'Great Wall Motors, Shanghai Automobile Group, Changan Auto...' and other automobile industry stocks, as well as 'Qianzhou Moutai, Wuliangye, Luzhou Laojiao...' and other liquor brand stocks, their performance is currently on the path of recovery.

At the same time, in the context of ‘economic recovery’.

Although the ‘big infrastructure’ strategy is the core driving force for economic recovery, there will definitely be some significant recovery in consumption during the economic recovery.

I think there is quite a strong room for expected differences here.

Moreover, in this field, while the popular main lines related to 'infrastructure' and 'military industry', as well as the macroeconomic strategic planning route of 'New Era Road and Maritime Silk Road', are soaring all the way, they have also obviously remained sideways, lagging behind the broader market index. , there is also a need for supplementary growth, and it also satisfies the logic of the main line's low switching.

As for the main market line of ‘big finance’.

I think that if the Shanghai Index still has the potential to continue to rise and break through, and can break through the 3,000-point barrier above like it did above 2,500 points.

At the same time, the market volume can perform well and maintain the 400 billion level.

In other words, the financing balance of the two cities can always remain above the active area of ​​800 billion.

Then, the market's "bull market" is not unexpected.

As long as the market's "bull market" expectations continue to increase, market investors' sentiment and confidence will increase.

Then, if the market volume can remain high, the balance of financing and financing remains high, and the overall money-making effect of the market is not bad, ‘big finance’ will definitely be the industry field with the first and direct benefits.

What's more, with the expected economic recovery.

After the banking industry adjusts its asset structure and cleans up off-balance sheet investments and off-balance sheet assets, its credit scale will definitely return to the expansion route as the economy recovers.

As for the demand of the insurance industry, it will definitely increase sharply in the context of economic recovery.

Not to mention securities, the sharp increase in market turnover in the past few months has made major brokerage institutions earn a lot of money from commission fees. At the same time, the self-operated fund products of many brokerage institutions should also In this wave of rising market prices for the main line of 'big infrastructure', we have made a lot of money, and now there is also an increase in profits from the two financing businesses...

Analyzing from these aspects, under the premise that the domestic financial trading market is becoming more and more popular, the fundamentals of securities have actually been gradually changing, and there is a strong expectation gap.

In this way, although the main line of 'big finance' has been very weak in the past, the majority of investors in the market also hate this main line sector, and there are constant abuses, but from the perspective of expectations, investment and speculation,' The line of big finance also has strong expectations and obvious investment and speculation value.

Also, the market size of the main line of ‘big finance’ is not small.

It is able to embrace all rivers, accommodate capital withdrawn from popular main lines such as "infrastructure" and "military industry", concentrate and gather market capital power, and lead the Shanghai Index to further open up space.

After all, when we weave the index, the weight of ‘big finance’ is quite high.

It is actually more appropriate to use the "big financial" line to drive market index trends, open up space for the Shanghai Stock Exchange Index further, and condense the basis and consistent expectations of a "bull market".

And judging from the market trend...

The active funds in the market are indeed flowing in and deployed in these major main directions. "

After listening to Gu Chijiang's analysis and understanding of the market, Lin Tingzong thought for a while and said: "From a more comprehensive perspective, Mr. Gu is right. At present, 'technological growth', 'big consumption', ' Big Finance's major main lines all have the opportunity and probability to take over the high-level popular main line market such as "infrastructure" and "military industry", guide the inflow of funds to the low-level main line, further condense emotions and consistent expectations, and create a new market main line.

But at present, there are obviously still big differences in funding in these aspects.

If we want to make arrangements in advance, the choice may be... not easy to do. "

Gu Chijiang smiled and took over the words and said: "There is nothing difficult to do. Since we can't see which low-level main line will eventually come out, form consistent expectations, condense market sentiment, and achieve the sustained profit-making effect, then we will Relying on the core popular stocks in these three main directions, a balanced layout is enough.

First follow the funds to buy, and then see which line has the strongest trace of consistency and the strongest sustained money-making effect.

Then we will slowly adjust the positions in the next step based on further changes in the market. What do you think? "

Lin Tingzong smiled and responded: "Although this method is clumsy, it is obviously practical for the current market performance. Okay, let's adjust positions according to what Mr. Guo said, and balance the popular cores of several main lines. stocks, and then we will look at the further gathering of funds and make focused and fine-tuned adjustments."

At this moment, the market has already shown signs of a 'high-low switching' market trend.

Although there is a consistent expected low-level main line, which is currently unclear, in order to grasp the initiative of the market, they must still make corresponding strategic changes.

At least, there are obvious signs of loose chips in several core main lines of the market.

Take profits first and keep them for these few months. Focus on the main lines of 'infrastructure' and 'military industry', as well as in the market for the 'Eurasian Economic Belt', 'New Era Road, Maritime Silk Road', and 'reform and reorganization of central and state-owned enterprises'. 'In the midst of the hype of several major concepts and themes, it is correct to gain profits, stabilize the net profit value of the fund, control the possible huge retracement risks, and first reduce the positions that are currently concentrated on several popular core lines in the market. of!