Rebirth of the Capital Legend

However, the market's hot sentiment after the market closed had not yet fermented until the next morning before it was extinguished by the adjustment trend of the U.S. stock market in the evening.

It finally arrived on Friday morning, August 8th.

The market's investment sentiment has basically returned to calm, and there are even a lot of bearish voices.

It was in this market sentiment that last night's collective bullishness gradually turned to divergence. After the call auction, both the A-share market and the Hong Kong stock market showed a significant low opening trend.

In the general trend of index opening lower...

Yesterday, the main field of "big infrastructure" was concentratedly bought by many major funds and the majority of retail investors. Except for a few small-cap stocks with popular concepts, other stocks basically did not show much overnight premium. Even many stocks opened slightly lower after yesterday's sharp rise or even limit-up.

Of course, compared with the entire market, other main lines opened low.

A number of stocks in the main area of ​​"big infrastructure" still appear to be relatively strong, but in terms of overall performance, some are slightly lower than the pre-market expectations of the majority of investors.

"Yesterday's intraday sentiment fermented so violently, but today there is not even a decent high opening. This shows that the overall confidence of the market is still obviously insufficient." Seeing the general low opening trend of the two markets, at 9:25 in Shanghai, Huarui Fund Management Company, 'Huarui Performance Growth No. 1' main fund product trading room, trading team leader Jia Yongxiang frowned slightly and said, "With insufficient confidence, it is difficult to get out of the sustained counterattack. I feel that today's market trend is not optimistic. The core theme of 'big infrastructure' must form a sustained upward trend and truly get out of the bottom. It is still very difficult!"

"The main reason is that the U.S. stock market trend was too bad last night," said Song Shaopu, product manager of the Huarui Performance Growth No. 1 fund. "It affected the market sentiment, especially the Hong Kong stock market. Recently, the A-share and Hong Kong stock markets have started to closely link up. It is obvious that the A-share market sentiment is increasingly affected by the Hong Kong stock market. The opening sentiment of the Hong Kong stock market has always been easily affected by the trend of the U.S. stock market, so it is not surprising that there is such an opening situation today."

"It's not surprising to have such an opening situation, but the market sentiment is a bit too bad." Jia Yongxiang said, "Yesterday's sentiment feedback was so good that various institutions were also bullish after the market closed. Even yesterday's news about the market's surge was once on the hot search list of social media websites. Such a good sentiment feedback was extinguished by the fall of US stocks. Doesn't this show that market confidence was originally very weak?"

"It is true that the market has weak confidence in going long," said Song Shaopu. "You have to know that the current market is a bear market. In a bear market, investors from all sides are like frightened birds. They are naturally prone to doubt and change their minds at the slightest sign of trouble. This is very normal. But generally speaking, based on past historical trends, the trend of U.S. stocks can only affect the opening of our A-share market. How it will go after the opening still depends on the concerted efforts of market funds.

I think the main market trend of 'big infrastructure' exploded so strongly yesterday that it siphoned off so much capital from the market.

At the same time, major institutional groups are also increasing their holdings significantly.

Even though there are many short-term capital groups that have a strong need to take profits and stop profits among these incoming funds, there should still be a lot of funds that are willing to lock in positions and continue to take over.

There is no need for us to be pessimistic at the moment. Maybe the market will rise instantly after it opens.

Also, I think...

The market opened low today, taking the opportunity to digest a wave of profit-taking and floating chips, which should be more conducive to the development of the core theme of "big infrastructure".

After all, the overall liquidity of the market is limited, and many on-site funds are willing to buy at the bottom, but are usually unwilling to chase highs.

If it weren’t for the adjustment of the US stock market, this bucket of cold water would have been poured on us.

Allowing yesterday's emotions to ferment wildly, causing today's market to open sharply higher, I am afraid that the current active market capital groups will find it difficult to absorb the profit funds from the concentrated selling.

At that time, once the buying funds can no longer take over, the entire "big infrastructure" main line will open high and then plunge.

The feedback from emotions is probably even more hurtful.

Such a slight lower opening now not only makes the profit-taking less intense and concentrated, but also provides buying funds with a good entry position. I personally think it is much better than a sharp higher opening.

After all, a low opening and a high closing, compared with a high opening and a sharp drop, have completely different responses to market sentiment. "

"Mr. Song, what you said does make sense." After listening to Song Shaopu's analysis, Jia Yongxiang pondered it carefully and nodded slightly. "But I didn't expect that the adjustment trend of the US stock market last night would have such a big impact. I also didn't expect that the publicity of various institutions yesterday, and such a hot discussion, did not bring any obvious help to the market."

Song Shaopu smiled and said: "In a bear market, whether it is institutions, hot money, or retail investors, they all appear to be relatively cautious in trading. In short, they will not release the eagle until they see the rabbit. Unless they see the market showing a continuous money-making effect and a clear trend, these people and funds will not easily enter the market.

After all, the consecutive stock market crashes in the past and the continuous decline in the past six months have left too deep an impression in everyone's mind.

This deep shadow will not disappear so easily.

That is why the core theme of "big infrastructure", under the dual stimulation of favorable policies and industries, and under the guidance of the large-scale increase in holdings of "Huayi Capital", is still so hesitant and fluctuating.

But it is precisely this hesitant and repetitive trend.

This gave me confidence that the main line of "big infrastructure" would definitely be successful.

Because of the hesitation and differences at the bottom, there will inevitably be sufficient turnover and volatility of the bottom chips, but the policy benefits and changes in industry fundamentals are real.

In other words, no matter how the market goes.

Ultimately, the market's large capital groups and active capital flows will still focus on the core theme of "big infrastructure."

After all, looking at the entire market, there is currently no other core theme that is more cost-effective and more certain than the core theme of "big infrastructure."

"So our current strategy remains unchanged?" Jia Yongxiang asked.

Song Shaopu responded: "It won't change, and there's no need to change. At this position, even in extreme cases, it won't fall much. Besides, the main capital of Huayi Capital is definitely not for charity. At this position, I believe this capital will continue to guide the market and continue to focus on long positions to stimulate market sentiment. So after the market opens, it should be highly likely that the market will open low and end high."

Following a brief discussion between the two regarding the market.

9点25分到9点30分的短暂5分钟停盘时间，已经转瞬即过。

Under the watchful eyes of the crowd, the time moved to 9:30 and the two markets entered the formal continuous bidding trading period.

As soon as the two stock markets started to fluctuate violently, many popular stocks in the main field of "big infrastructure" that attracted much attention from the public all received concentrated buying power in an instant.

This concentrated buying power hardly gave too many people time to react.

These popular stocks and the industry's core weighted leading stocks were directly pushed from a slightly lower opening to a red market state.

And because of the sudden rise of a number of stocks in the main area of ​​'big infrastructure'.

The Shanghai Composite Index, Shenzhen Composite Index and ChiNext Index were also affected, and they all showed a trend of opening low and closing high. However, in just two or three minutes, they rose from underwater to flat or even red.

"Sure enough, it opened low and ended high." Seeing the market's trend after opening, Jia Yongxiang smiled. He was very impressed with Song Shaopu's judgment before the market opened. He smiled and said, "Looking at this trend, the buying at the beginning of the market is very strong. We can continue to increase our positions!"

"Then continue to increase your holdings at your own pace." Song Shaopu responded with a smile.

Jia Yongxiang nodded, and stopped asking Song Shaopu's opinion. He turned around and instructed the traders behind him to buy up the corresponding target stocks in the main area of ​​"big infrastructure".

And just when he ordered traders to buy the corresponding stocks in large quantities.

At this time, inside the "Huayi Capital" company, in the main fund trading room of "Huayi Expedition No. 1", Hou Baolong stared at the market and also issued trading instructions to the traders to continue buying and increasing their positions.

"Boss Su, under the continuous guidance of our funds, the bullish sentiment on the market has been revived." After issuing the relevant transaction instructions, Hou Baolong turned to look at Su Yi and reported, "From the trend at the beginning of the trading, the capital force that follows the trend is still very strong, and the volume has obviously increased compared to the beginning of yesterday's trading. This shows that under the brewing of yesterday's emotions, the market opened better today and attracted a lot of incremental funds from the outside."

Su Yi listened to Hou Baolong's analysis, and kept his eyes on the market trends of the two markets. He nodded slightly and said, "This is a good thing. Isn't our goal to attract incremental off-site funds to enter the market? If there is no incremental off-site funds entering the market, the existing funds in the market will compete with each other. The core theme of 'big infrastructure' will still be difficult to go far, and it will be difficult to form a real upward trend."

“However, there are still quite a few profit-taking sales.” Hou Baolong paused and continued.

"It's okay." Su Yi said, "Most of the short-term active funds in the market are doing short-term arbitrage transactions. It is basically impossible to lock these funds in a position. But as long as the market's confidence in going long gradually gathers, the main funds of institutions gradually deepen their recognition of the logic of the entire 'big infrastructure' main line, then the buying orders flowing to the core main line of 'big infrastructure' will gradually increase, and the floating selling orders will gradually decrease.

Once a number of institutions have completed their positions, the chip structure of the entire "big infrastructure" main line will be stable and the chips will settle.

The market trend may be much more stable.

There won’t be continuous surges and plunges like in the past few days.”

"Mr. Su, do you think that the trend of the core theme of 'big infrastructure' has not yet fully emerged? Will the market fluctuate?" Hou Baolong said after listening to Su Yi's analysis, "I feel that it should be about the same, right? After the continuous abnormal trend in the past few days, the major major institutions in the industry have obviously paid more and more attention to the core theme of 'big infrastructure', and the corresponding logic is basically clear. The market discussion heat is also continuing to rise. Coupled with the stimulation of the money-making effect in the market trend, the trend should have completely emerged, right?"

Su Yi responded: "At present, the trend of the entire 'big infrastructure' main line is forming, but there is still some distance to go before it can come out. The entire main line must shrink again after a large increase in volume, and the chip structure must be truly stabilized before the trend is formed and the market can come out completely.

At the current stage, the entire 'big infrastructure' main line.

It is still in the process of emotional fermentation, capital game, and short-term speculation.

This process is a stage where chips are exchanged in a concentrated manner, the logic gradually deepens, and the trend is more intense.

Our goal at this stage is to leverage the influence of our own trading seats to guide the market and maintain market trends.

In short, it is not time to relax yet.

Moreover, various market funds have not yet formed a consistent view on the trend of the core theme of "big infrastructure" and future expectations.

However, the larger the volume at this position, the greater the divergence in the market, which is also a good thing.

The degree of sufficient turnover of bottom chips will determine the height of subsequent market trend development, and will also determine how much market excess return we can get from the core theme of "big infrastructure" in the future.

Therefore, it is still necessary for us to guide the market and stimulate sentiment in a timely manner.”

"I see." Hou Baolong responded with a smile after listening to Su Yi's words, "Mr. Su's analysis of the market and the analysis of the operation ideas really enlightened me and made me suddenly enlightened."

Previously, he just wanted to follow the plan, fill up the fund's reserved positions in the main line of "big infrastructure", and then wait and see, waiting for the market to develop on its own.

Now after hearing what Su Yi said.

He suddenly felt that he had the initiative and could deepen the market trends, emotions and logic within the market's self-development laws.

Thinking of this, he suddenly couldn't help but sigh inwardly: "Maybe this is the difference in thinking between ordinary traders and top traders."

Compare Su Yi's trading logic and market views, as well as his predictions about the macro economy and market trends.

He felt that there were countless areas for him to learn and improve.

"Mr. Hou, the trend of domestic real estate stocks in the Hong Kong stock market today seems to be somewhat out of touch with the stocks related to the real estate sector in the A-share market, as well as the trend of the entire 'big infrastructure' theme." Just as Hou Baolong was thinking, Wang Yongkang, the trading team leader in charge of Hong Kong stock market transactions, suddenly reported in the trading room, "Based on the initial trend, the selling pressure on the domestic real estate stocks in the Hong Kong stock market is extremely heavy. It seems that the funds that intervened a few days ago are all selling on a large scale to take profits. Should we... continue to buy at this time? Should we wait for its trend to adjust before we say anything? Or should we take over the low position of the adjustment trend and increase our position in the form of passive buying?"