Chapter 838 ‘Big Finance’ leads the rally again!

"What you said makes some sense." Liu Guanhai heard Yu Lei's analysis, thought for a moment, and responded, "We have also made a lot of money this time. Since the certainty of the subsequent market is weakening, the uncertainty If it is increasing, then we should reduce our positions and take profits in a timely manner. We should reduce some positions first and leave enough flexibility for changes in our trading strategies. Then, no matter how the market goes next, we will be able to take the initiative. "

Yu Lei nodded and asked: "Then Mr. Liu, how much does Mr. Liu think we should reduce our position at this moment?"

Liu Guanhai thought for a while and said: "There is definitely nothing wrong with the current market and the overall logic of the bull market. Even if we expect an adjustment, it should be a benign adjustment. In this case...then we cannot be concerned about the adjustment situation. If you are too pessimistic, you cannot lower your position too low.

After all, if we lower the position too low.

Once we make a mistake in judging the subsequent market trend, the market will develop in the opposite direction to our expectations.

Then, we will not have time to quickly buy back the chips and refill the position. This will inevitably lead to a significant shortfall in the market, resulting in poor performance of the fund's net value.

So I think……

Even if we want to reduce our positions and take profits now, we still have to keep our fund positions above 50%.

Only in this way can we achieve a comprehensive and proactive situation in which we can advance and attack and retreat and defend, without causing excessive impact on the trend of net worth due to temporary mistakes in expectations and judgment. "

"Okay." Yu Lei nodded, agreeing with Liu Guanhai's opinion.

Indeed, when there is no change in the mid- to long-term logic of the bull market and the bull market pattern of the entire market remains firm, it is not appropriate to reduce the position too low.

After all, there is a correction in a bull market.

Whether it is the space for adjustment or the time, it is very difficult to predict.

"Also..." Liu Guanhai paused and continued to add, "In the process of reducing positions and taking profits, I think we can give priority to reducing positions in the main line of 'Big Finance', the most popular stocks. After all, this is the main line of heavy stocks. , is the area most affected by the current news.”

"Yeah." Yu Lei nodded and said, "I think so too."

After speaking, Yu Lei hurriedly began to give orders to the traders behind him.

Let everyone adjust the corresponding trading strategies and gradually reduce positions and stop profits after the market officially opens for trading.

And when the two discussed it carefully and quickly made adjustments to their trading strategies.

Right next door to the trading room where the two of them were, was the trading room of the same company's main fund product, 'Yinghui No. 2'.

As a fund manager, Shao Xiaoyun stared at the market of the two markets. After pondering for a moment, he came up with the opposite idea to Liu Guanhai and said: "Chang Ling, do you feel that the core main lines of the market and the market trend have gone further? The land is concentrated towards the main line of 'big finance'."

As the leader of the fund product trading team, Liu Changling carefully looked at the two markets, pondered for a moment, and responded: "Judging from the market trends and market changes in the past two days, the 'Big Finance' line has been in a state of flux in recent days. After the continuous shock adjustment, it does mean to restart the upward trend.

but……"

Liu Changling paused and continued: "I think the position of 'big finance' will continue to rise, and there won't be much room in the short term."

"Why do you say that?" Shao Xiaoyun asked.

Liu Changling responded: "Let's not talk about the suppressive effect of the huge group of medium and short-term profit-making funds within the core main line of 'big finance' on its market. Let's just say that this big main line has been rising continuously for almost a month. Finally, the expectations of the bull market have been basically fulfilled, as well as some of this year's performance expectations. If the subsequent market news does not have more positive news than expected, then according to the current situation, everyone's view of the 'big finance' line is relatively sufficient, and it is relatively With consistent future expectations, it is difficult for the market to make any big breakthroughs.”

"Isn't there still good support from the central bank's interest rate cuts and RRR cuts?" Shao Xiaoyun said, "And according to the predictions of many domestic institutions and the news received by many institutions, the probability of the central bank cutting interest rates and RRR cuts this month is very high. As long as this good news comes to fruition, it should still bring significant changes in funding to the market and bring higher future expectations to the main line of 'big finance', right?"

Liu Changling pondered for a moment and responded: "If the benefits of the central bank's interest rate cuts and RRR cuts are suddenly announced, it will definitely be a big benefit to the market, and it will indeed bring great benefits to the core line of 'big finance'." , and even the market trend of the entire market, has brought a very positive and stimulating effect, and at the same time, it has brought higher future performance expectations and fundamental changes to a number of core sectors in the main line of 'big finance'.

However, there is news about the central bank cutting interest rates and reducing reserve requirements.

It has been brewing, fermenting and spreading in the market for many days now.

In other words, everyone has long expected this big piece of good news, and the core industry sectors and leading stocks of 'big finance' have also achieved breakthroughs in growth and expected growth in this expectation. cash.

In this way, even this piece of good news can be further clarified and truly implemented.

Under everyone's sufficient expectations.

It should also be difficult to have an excessive stimulating effect on the market.

That's why I said that the core line of "big finance" is currently very limited even if it breaks through forcefully under the favorable expectations of subsequent central bank interest rate cuts and reserve requirement ratio cuts. "

"Since the core main line of 'big finance', even if it breaks through upward, the increase will be very limited, then... why are the many major institutions that are currently frantically increasing their chips in the core main line of 'big finance' generally in this position, making large-scale increases? "How about going long?" Shao Xiaoyun did not quite agree with Liu Changling's analysis and said, "Looking at the changes in market turnover in the past two days and the confrontation between long and short forces on the market, I feel that everyone has a strong understanding of 'big finance'. The expectations for the core main lines, as well as the expectations for the implementation of news about the central bank's interest rate cuts and reserve requirement ratio cuts, are not consistent expectations as you said. On the contrary, I think everyone's expectations in this direction are still very different.

Since the expectations are not consistent, and the long and short differences are large.

So, it means that the core main line of 'big finance', especially the banking and insurance weighted sectors whose growth has lagged relatively behind, has not risen to the level, let alone the expectations have been fulfilled.

Compare the gains of a number of heavyweight stocks in the core main line area of ​​"big infrastructure" this year.

Nowadays, the growth rate of the main-line weighted stocks of "big finance" is really lagging behind. Even many core component stocks have not even kept up with the growth rate of the broader market this year.

Just this kind of room for growth.

I don’t think that the line of ‘big finance’ has reached the conclusion that it has reached its current level. "

"Mr. Shao, what do you think...how should we operate now?" Liu Changling frowned slightly when he saw that the other party was still very optimistic about the main line of 'Big Finance'. He did not think about continuing to refute, but asked, "Mr. Shao Does it mean that we continue to hold positions statically and let profits run?"

After interpreting the market conditions, he actually preferred to reduce positions and take profits at this position.

Then, he will observe the subsequent trend of the market after the news is clear, and finally make the next trading strategy, but... based on his understanding of Shao Xiaoyun.

The net value performance of the ‘Yinghui No. 2’ fund product.

When you are only one step away from the ‘Yinghui No. 1’ fund product.

Shao Xiaoyun did not see the reversal of the market's bullish trend, did not clearly see the reduction of the market's money-making effect, and did not see the obvious correction trend of the 'big financial' main line sector, before he definitely disagreed with reducing positions and taking profits at this position, actively shrinking positions and becoming proactive The offense is passive defense.

"No..." Shao Xiaoyun said, "What I mean is...since the line of 'big finance' has continued to become the absolute engine of market conditions, it has continued to become the core of the main financial groups in the entire market to increase their positions and compete for funds. field, and has shown a trend of continued breakthroughs, then we might as well further concentrate our positions on the core main line of 'big finance', maximize the market's excess profits, and increase the net value of our fund products. Once done.

After all, it’s almost the end of the year.

If the net value of each fund product is settled at the end of the year, the net value of our fund products will have an excellent performance.

So next year, whatever resources the company has, it should be tilted towards the fund products we manage, which is good for all of us. "

"Continue to concentrate positions on the main line of 'big finance'?" When Liu Changling heard this, he almost thought that Shao Xiaoyun was crazy, and hurriedly advised, "Mr. Shao, at this time, aggressively increasing positions at high levels and concentrating positions more and more is already too optimistic. and relatively greedy performance.

Although the current market is a bull market, and there is no problem with the basic logic of the bull market.

However, a bull market does not mean that the market will keep rising.

Even though there will be huge market trends for the core line of ‘big finance’ in the future, at this stage, expectations have almost been fulfilled.

I admit, comparing the core line of ‘big infrastructure’.

At present, the general growth rate of the "big finance" line is not large, at least compared to the "big infrastructure" line, it is relatively backward.

However, the stock price increases of many core stocks in the 'big infrastructure' line are greater than those of many core stocks in the 'big finance' line. It came out with the changes in fundamentals and the continuous increase in expected logic.

In other words, the market situation of the "big infrastructure" line has reached its current height.

It took 7 or 8 times longer than the start-up time of the 'Big Finance' line to finally take shape, and based on the market trend of the first wave of 'Big Infrastructure' in April and May of the first half of the year, after that wave, The core line of "big infrastructure" has been continuously adjusted for almost 2 months, and it almost fell back to the original point before it came out again.

In other words, any main line market, any individual stock market.

Even if the fundamentals change, the investment logic changes, and there is good support, it cannot be fully realized in a short period of time and completed in one go without adjustment.

As for now……

The corresponding stocks in the "Big Financial" line generally achieve a doubling trend in the short term.

The need and concept of adjustment is huge.

At this time, if we concentrate our positions on the main line of "big finance", we will most likely not make any profits. Instead, we will fall into a huge retracement adjustment, which will have a greater impact on the net value of our fund products.

If Mr. Shao insists on radical operations, he must take a gamble at the end of the year and continue to increase the net value of our fund products.

So, I think that instead of concentrating positions on the core line of 'big finance', it is better to concentrate positions on the main line of 'big infrastructure'. "

"Concentrate on the main line of 'big infrastructure'?" Shao Xiaoyun was slightly stunned.

Liu Changling nodded and said: "For now, the internal chip structure of the main line of 'big infrastructure' is obviously better than the core main line of 'big finance', and the core main line of 'big infrastructure' is Since the Shanghai Stock Index continued to break through 3,000 points last month, it has also gone through a long period of adjustment. It has only recently caught up with the increase in the main line of 'big finance' and has become the main line leading the market.

Moreover, in terms of the investment logic of the two main lines and the logic of future expectations.

In fact, there is not much difference between the expected logic of the ‘big infrastructure’ line and the ‘big finance’ line.

So I think.

The short-term market trend of the "big infrastructure" line is likely to be stronger than that of the "big finance" line. "

Shao Xiaoyun carefully considered Liu Changling's words, and finally said: "Since you think that there is still a risk of a sharp correction in the 'big finance' line, then we... let's keep the static positions and take a look at the 'big finance' and Among the two core main lines of 'big infrastructure', which one will have a stronger trend, we will wait for the market trend and the performance of the main line to become clearer and clearer before making adjustments to positions."

Liu Changling saw that Shao Xiaoyun had given up on the idea of ​​continuing to adjust positions to the main line of "big finance". Although he did not convince Shao Xiaoyun to appropriately reduce positions and stop profits at this position to defend against possible market adjustment risks, he was able to maintain a static position, which was considered relatively moderate. After making the choice, he couldn't help but say: "Okay, let's keep the static position first, then see how the market will change, and then make adjustments."

As the two finally reached an agreement on the trading strategy, they continued to lock up individual stocks held by the fund.

At this time, the market's trading time has reached 9:30. The market that has temporarily stagnated has once again ushered in formal continuous bidding transactions due to another brewing of market sentiment.

I saw that the market had just opened, and the prices of the two cities had just started to beat.

Radical bulls once again flocked to a group of heavyweight leading stocks on the main line of "big finance", as well as related concept leading stocks.

Then, only one minute.

Two brokerage stocks, Harbin Investment Capital and Huaxin Securities, performed strongly yesterday and stood out on the disclosed Dragon and Tiger list.

Immediately after the crazy rush of buying orders, the stock price rose to more than 5%. (End of chapter)

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