Chapter 671 The basic logic of the bull market!

Xu Xiang, who was sitting next to Zhou Kan, squinted at the changes in the two markets and responded with a smile: "This is a bull market! As long as there is continued incremental capital entering the market, as long as the market outlook continues. For the better, as long as the market still has a relatively strong money-making effect, and as long as market investment sentiment and investment confidence are still at a relatively active stage, then the trend that has been out will continue.

The short-term long-short divergence in the market is actually not a bad thing.

The financial trading market is a very free buying and selling market. If there are people selling, there will naturally be people buying.

If the market wants to continue to move forward, only if chips are constantly exchanged and the structural center of gravity of the market chips continues to change hands and gradually moves upward, can a sustained "bull market" market be created.

Moreover, in a relatively aggressive market trading atmosphere.

Especially at this stage, when investor risk appetite in the entire market is continuing to rise.

All good news will be amplified by this emotional effect, while all bad news will be subconsciously ignored by this emotional effect, thus weakening its influence.

Even if there is no clear positive impact, under the strong bullish sentiment effect.

Most investors will also subconsciously dig out the corresponding insignificant benefits to create new confidence in their positions.

Therefore, when the market enters the bull market stage.

Even if the index experiences extreme intraday trend adjustments, it is generally difficult to hurt daily sentiment.

What's more, the external market trend last night was very good, and many institutions in the industry are also changing their expectations for the external market in all aspects.

In this way, the domestic market experienced differentiated adjustments during yesterday's session.

Once again, the market opened generally higher, and the investment sentiment of the entire market did not retreat but advanced, which is easy to understand.

However, although under this emotional effect, there is a high probability that the index will open higher or continue to hit new intraday highs, but when the index enters the historical concentrated hold-up area, and the short-term profit-taking concentrated selling desire becomes more and more With a strong stall, it is unrealistic for the index to form the kind of explosive breakthrough with continuous positive lines during the trading hours of the previous week.

It is very likely that in the subsequent market trend, the index will enter the trend of the previous months, advancing two and retreating one, or fluctuating in small steps and continuing to rise.

After all, if the index target is above 5,000 points.

The 3,000 to 3,500 point range, which has historically been a very heavy range, will only increase in the future if the chip structure in the general direction is completely adjusted. The height will also be severely restricted. "

After hearing Xu Xiang's analysis, Zhou Kan thought for a moment and responded: "So the boss feels that it is completely normal for the market to have a large long-short divergence in this position range, and it is away from the high-flying and high-fighting situation of the previous week. Is it far better to enter a volatile and upward trend than to continue to hold high and fight high?”

"This is natural!" Xu Xiang nodded and said, "Since the last round of bull market, the index has not touched the range of 3000 to 3500 points. The holding chips in this range have never been Got any digestion.

According to the position psychology of the majority of retail investors.

Those funds that were stuck at 4,000 points, 5,000 points, or even 6,000 points felt that there was no hope for the index to recover these historical highs, and there was a high probability that they would liquidate their positions on a large scale as time went by. However, they were stuck at 3,000 points. to the broad group of retail investors within the range of 4,000 points.

Their psychology is completely different from the psychology of investors trapped above 4,000 points.

This interval position is neither high nor low.

In other words, they still have some hope in their hearts. They feel that one day, the index can break through this range, allowing them to unwind. Therefore, many financial chips trapped in this range will usually not easily close their positions at low levels and give up in their hearts. Those who had a glimmer of hope accepted their losses and were eliminated.

The index has stopped at 3,000 points for many years.

I have always given these people hope, but never let these people's hopes come true.

This leads to the accumulation of hold-up orders in this range, which should be the range with the greatest pressure during the upward phase of the index.

As for the hold-up market in such a large pressure range, there is no strong continuous change of hands, no sufficient exchange of chips, and it relies solely on the continuous positive impact of the news and the extremes of emotions to quickly overcome it in the form of holding high and hitting high, then This will inevitably lead to incomplete clearing of the holding chips within this range, and also lead to an unstable chip structure within this range.

And once this happens.

After the index rose high, sentiment quickly declined.

What is waiting for the market will be continuous and violent adjustments, which is very likely to be a vicious and extreme downward trend.

Once such a situation occurs, the market will not be able to sustain the concentrated selling of a large number of chips that have not been cleared between 3,000 and 4,000 points.

When the market cannot bear it, the follow-up space of the bull market will not be opened up.

Only by allowing the index to fluctuate continuously and continuously changing hands in this pressured range can the chips accumulated in this range be fully exchanged, so that both short and long positions can have full understanding. , in order to stabilize the support of the market at this position.

This can also make the market more stable and make the bottom foundation of the bull market more solid.

Generally speaking, at this time, the development of the index should be slow rather than fast.

We have to wait for the bullish sentiment in the market to further ferment. The expectations of the bull market will be recognized by more investor groups, and more OTC capital groups will pour into the market. The turnover of the two cities can continue to explode to a higher level, and the bull market will The main rising market will really come.

At this stage, the bull market has just begun, and the market is still in a period of switching between long and short.

At this time, we have to see clearly the actual trend pattern of the market. At which stage, we need to be more patient with the market and have more determination to hold positions. "

"I agree with what the boss said." Zhou Kan said, "But once the market situation returns to the trend of the previous few months, then the main line of 'big finance', especially the investment in the securities sector, will The core logic is not that strong!”

"Can't the general market capacity of 600 billion yuan and the balance of financing and financing of trillions of dollars support the fundamental changes in the securities sector?" Xu Xiang smiled and said, "What's more, the main institutional groups in the past were not interested in the 'Big The financial sector is not optimistic. In the early days, everyone's position weight in this main line was not high. This resulted in this big main line, and there was no shortage of large capital groups to follow up.

There is also the current expectation that the central bank’s monetary easing policy is almost obvious.

I judge...

Even if the index slows down, there is a high probability that the market trend of the main line of "big finance" will not slow down, and it is very likely that it will continue to accelerate.

Don’t forget, the real driving force of the market is not the actual fulfillment of expectations.

It’s the anticipation itself.

As long as the bull market logic of the market remains unchanged, as long as the central bank’s intention to promote monetary easing policy remains unchanged, as long as the market’s volume can continue to remain at extremely high levels, as long as the balance of financing and financing continues to grow, moving closer to a trillion-dollar scale, as long as many people in the industry The weight of positions held by institutional groups in the direction of 'big finance' has not reached a higher water mark than the original main lines of 'infrastructure' and 'military industry'.

So, the line of ‘big finance’ is currently facing the market trend.

The only way to go is to rise and keep rising.

Looking at the entire current market, there is no core line with a logic of market outlook expectations that is as positive and strong as the line of ‘big finance’.

Since we judge that the bull market in the market will not stop.

It is judged that the range position between 3000 points and 4000 points, although there are repetitions, is bound to be broken through. It is judged that under the guidance of the continuous money-making effect and the risk preference of market investors gradually increasing, the incremental capital group will continue to flooded into the market.

Then, we should have firm stockholding confidence in the line of 'big finance'.

Regarding the firm market...

Mr. Su from the ‘Yuhang Department’ has set a good example for all of us.

The entire 'Yu Hang Group' capital group should now have basically shifted their position focus to the main line of 'big finance'.

It can be seen through the positions of the main fund products of the "Anzhao Fund" company controlled by the "Yu Hang Group".

After the other party intervened in the main line of "Big Finance" with almost full position more than a month ago, it basically didn't move its position much.

We should also have this kind of determination and confidence.

The curtain of the bull market has just been opened. 'Big Finance', as the historical vanguard of the bull market, has always been 'the bull market has not moved, but securities have moved first', and in the entire market, most of the smart main capital groups , the same is true for unanimous expectations. In this case...then we must follow this expected logic and invest and operate in accordance with the actual trend of the market. "

When Zhou Kan saw Xu Xiang speaking, his eyes were full of confidence in the market outlook. At the same time, he was also full of confidence in the distribution of fund holding weights in the main direction of 'big finance'. He couldn't help but smile and nodded, and said: "Okay, let's Just let it go forever, continue to lock up the position, and wait for the main line of 'big finance' to be fully realized."

Xu Xiang nodded, and then returned his gaze to the trading boards of the two cities.

At this time, the two cities had passed the initial collective bidding period and entered the real collective bidding period at 9:20.

And after the initial collective bidding in the previous 5 minutes.

At 9:19, a large number of false pending orders were cancelled.

Compared with the time of 9:15, the market situation of the two cities has clearly declined, and the general high opening pattern is not so obvious.

Among them, relatively high-level main-line fields such as 'infrastructure' and 'military industry' were hit hard yesterday.

It is already a trend of generally opening slightly lower.

In particular, the stock 'Blue Stone Heavy Equipment', which is still attracting a lot of attention from the two cities, has already seen its stock price drop by 21% due to the proposed matching transaction order displayed on its market.

Of course, as the broad investor groups in the market, as well as the main core institutional groups, the core hot topics of the two cities, the main line of 'big finance', especially the securities sector and Internet finance, which have continued to lead the market in the two cities in recent days. Sector, the call auction performance at this moment is still very strong.

The index of the securities sector opened higher by around 1%.

Among the core component stocks in the sector, Western Securities opened higher by 55%, Oriental Securities opened higher by 13%, Huaxin Securities opened higher by 89%, Huashang Securities opened higher by 76%... Dozens of component stocks, only about the same. 10% of stocks have opened flat or slightly lower.

The performance of the Internet financial sector is even worse than that of the securities sector.

The Internet Financial Sector Index has now increased by 35%. The core component stocks in the sector, Tonghuashun, completely withstood the selling pressure despite the failure to close the market yesterday, and opened higher by around 21%. Hengsheng Electronics opened higher. 33%, Jinzheng shares opened 11% higher, Oriental Fortune opened 55% higher...

As for the core line of ‘technological growth’, there was serious differentiation yesterday.

The 'film and television media' sector, which performed the strongest yesterday, maintains a slightly higher opening trend at this moment, while other branch concepts such as 'Internet software', 'Internet applications', and 'smartphone industry chain' are gradually falling. , showing a flat opening or slightly lower opening trend.

The remaining main lines are 'big consumption', 'nonferrous metal cycle', 'pharmaceutical business', 'petrochemical industry'... etc.

The performance at this time has also gradually dropped from the generally high opening state at 9:15 to the current general flat opening or slightly lower opening state.

Finally, when the time gradually moved forward from 9:20 to 9:25.

When the two cities end the call auction.

I saw that the Shanghai Stock Index finally settled at a 23% increase, opening only slightly higher; the Shenzhen Stock Exchange Index and the ChiNext Index remained flat; the small and medium-sized index opened slightly lower by 21%, and the strongest A50 index also opened at ' Under the continued strong support of the main line of big finance, it opened higher at 52%, continuing to lead the rise of several important core indexes in the two cities.

And, beyond index performance.

The transaction volume of the two cities during the entire collective bidding process increased again compared with yesterday.

This shows that although the mood in early trading is very good, the internal selling pressure has not been fully digested, and the market's differentiated trend will most likely continue.

Faced with such a market opening situation...

Both inside and outside the market, the majority of investor groups feel that it is somewhat lower than expected.

After all, the U.S. stock market rose sharply last night, and the external market trend was booming. Even if there is no substantial positive support on the news, according to everyone's inner expectations, the opening range of the major market core indexes should be at least 5% or more. Yes, it is just opening slightly higher, which is obviously significantly lower than expected.