Rebirth of the Capital Legend

Among them, as the share prices of a number of stocks related to the main line of "big infrastructure" rose rapidly, the stock of "Oriental Yuhong" suddenly rose by more than 5 points. The increase in the market reached 7% at the moment of opening in the afternoon, which instantly attracted the attention of other short-term capital groups in the market and also attracted a group of retail investors to follow suit.

Of course, it is not just the 'Oriental Yuhong' stock that is moving at the same time.

Mid-cap blue-chip stocks in the "big infrastructure" main line, such as 'HuaXin Building Materials', 'Jinou Cement', 'Gujia Home Furnishing', etc., which have strong fundamentals and good performance but are not particularly heavily supported by institutions, have all been snapped up by a large number of main buying funds at this moment.

It's just that the entire main line of the "big infrastructure" is in turmoil.

After the initial wave of concentrated buying at the afternoon opening was exhausted, the market gradually began to fluctuate and fall slightly because the subsequent buying in the market was not enough.

Moreover, even within the main line of "big infrastructure", there are core leading stocks that are highly concerned and popular.

As the buying volume continues to decrease, the prices are suppressed near the previous rebound highs, and are unable to form an effective breakthrough in a short period of time.

In addition, the popular leading stocks related to the "big infrastructure" main line generally did not rebound and break through their previous highs.

The index performance also began to fluctuate and fall from the intraday high.

As for other industry sectors and concept sectors that are not related to the "big infrastructure" theme, their performance is obviously weaker.

"It seems... there is still a problem with the buying capacity of the market!" Feeling the market's afternoon trend, compared with the rapidly warming bullish sentiment, it was obviously somewhat below expectations. At this time, in the trading room of the 'Jufeng Future Growth' fund product trading room of Jufeng Asset Management Company in Shanghai, Yu Xiaolu, the trading team leader, stared at the market, frowned slightly, and said, "The entire main line of 'Big Infrastructure' cannot break through the previous high. Even if the adjustment is over, it cannot be considered a new upward trend. If this position cannot be substantially broken through, then it is likely that next... whether it is the index or a group of stocks in the market, they will have to adjust downward and look for a support platform downward."

"In other words, the overall market trend is likely to remain on a platform and fluctuate." Hearing Yu Xiaolu's words, Lu Xiangxiang responded, "If it still remains on a platform and fluctuates... then we don't need to rush to increase our positions."

Yu Xiaolu said: "I feel that the market is still lacking some opportunities for an upward breakthrough, and judging from the current performance of the entire market, except for the "big infrastructure" main line which has some profit effect, the performance of other main line sectors and concept sectors can be said to be below expectations, and there is a serious shortage of buying funds.

There is no cooperation from other main sectors, and no other main sectors follow suit and rise.

It is basically impossible for the "big infrastructure" line to single-handedly drive a reversal in market trends and create a breakthrough effect for the entire market.

However, if other market main lines cannot be driven to recover, the index will not be able to rise.

Therefore, without the cooperation of the index and the follow-up cooperation of other market main lines, it will be difficult for the core line of "big infrastructure" to create a high space and further consolidate the market's bullish sentiment.

At this time, we cannot be pessimistic, but we cannot be too optimistic either.

From my personal point of view...the current market volume seems unable to support the core theme of "big infrastructure" and other market themes to make substantial breakthroughs.

After all, after the previous big rebound, whether it was the "big infrastructure" line or other main lines in the market that followed suit.

The internal chips have not been fully adjusted.

In other words, in the current market, among the internal chips of each main line, trapped shares, untrammeled shares, and profit-taking shares are mixed together, and are still being sold continuously, which puts continuous pressure on the stock price to rise. It is simply unrealistic for the buying side to take over so many selling orders in one go with the current market volume performance.

Of course, this does not mean that with the current market volume, there will be no breakthrough unless the volume is expanded on a large scale.

However, if the volume cannot be increased in the short term...

That requires the internal chips to further settle down, resulting in a continuous reduction in selling pressure.

This is like many stocks that have skyrocketed and plummeted. After the divergence, they must experience a wave of continuous shrinking volume and precipitation of chips before they have the momentum to continue the trend. "

"Well, I think I understand what you mean..." Lu Xiangxiang took over and said, "Either you mean to exchange energy for space, or time for space, right?"

Yu Xiaolu nodded and responded, "Yes, that's what I mean. Market liquidity is limited, and OTC buying is not active. We have to buy time to buy space. However, we are not short-term funds, and investors who invest in our fund products are not eager for us to realize performance and profits immediately.

In general, even the core theme of "big infrastructure" failed to break through this time.

Well, with its strong logic of fundamental transformation and highly certain expectations of future performance explosion, as time goes by, when its internal chip structure further settles down, the continuous selling pressure of profit-taking, unwinding and trapped shares will decrease.

Even with the current market volume, the core theme of "big infrastructure" has broken through upward.

This is basically certain.”

"It's good that you have this confidence." Lu Xiangxiang smiled and said, "Don't worry, as long as the fundamental transformation of the entire real estate industry chain is real and the national real estate bull market is real, then the core leading stocks of the entire 'big infrastructure' main line, and some core stocks that benefit from the recovery of the real estate market, will not be able to stay at this level for a long time without rising.

Moreover, after the last round of short squeeze trend of the entire "big infrastructure" main line.

At present, most of the funds on the market and those waiting to enter the market outside the market have realized this opportunity and gradually formed a consistent expectation.

In other words, driven by the underlying logic.

It can be predicted that in the future, the number of buying funds invested in the core theme of "big infrastructure" will only increase.

Isn't the core driving force behind the rise in stock prices the continuous buying funds? In this case... then the core stocks we hold cannot help but rise.

I think this is what we should really do at this time.

The focus is not on whether the "big infrastructure" line can go up, or whether it can break through the previous high point.

Instead, we should focus on the trends of individual stocks in the entire main sector, and study those stocks that will benefit the most from this round of real estate bull market and the country's macroeconomic development strategies of "big infrastructure" and "new era road and maritime Silk Road."

In other words, the market may make a substantial breakthrough here, or it may fall back and continue to fluctuate.

It's all good for us.

If the market falls back and continues to adjust, we can further adjust the portfolio after carefully studying the fundamentals of individual stocks and identify the core stocks that will benefit more in the future.

Continue to break through upward to reach higher levels based on our current holdings and the core stocks we hold.

The net value of our fund cannot possibly underperform the market.”

"That's true." Yu Xiaolu nodded slightly, turned her eyes to the trading of the two markets again, and said, "Today, 'Oriental Yuhong', 'Huaxin Building Materials', 'Jinou Cement'... these second- and third-tier blue chip stocks with 'big infrastructure' as the main line seem to be significantly stronger. This shows that there are still many niche leaders to be explored in the market, and there are also many undiscovered investment opportunities."

"The checks you mentioned...looking at the intraday trend, they look like the work of hot money, right?" Lu Xiangxiang said, "It seems that there are not many institutions holding these checks at present."

Yu Xiaolu responded with a smile: "Mr. Lu, don't underestimate these active hot money in the market. In terms of market sense and mining capabilities, these funds are better than many institutions in the industry. Moreover, these stock institutions do not hold a large position at present. Doesn't it just show that the potential buying power in the future is very strong?"

"It seems...it can be understood this way." Lu Xiangxiang smiled and basically agreed with the logic that Yu Xiaolu said.

As the two of them talked...

As market trading hours continue to advance, the selling pressure from the upward breakthrough of the "big infrastructure" main line and the upward pressure on the index have obviously become greater and greater.

At 1:55 p.m., the Shanghai Composite Index continued to fall from around 1.75% to 1.32%.

At 2:03 p.m., the 'Golden Land Group' which had already reached its daily limit suddenly fell. At the same time, other leading real estate stocks also showed a clear trend of rising and falling.

At 2:10 p.m., the Shanghai Composite Index fell back to around 1%.

At 2:15 p.m., the low-level main sector indexes such as Internet software, film and television media, electronic information, new energy industry chain, etc., fell by 1% and still led the market decline.

At 2:20 p.m., Oriental Yuhong's share price rose back to 5%.

At 2:30 p.m., the Shanghai Composite Index fell back to 0.83%. In just half an hour, it fell back by nearly half of its gains. At the same time, in the main field of "big infrastructure", the gains of real estate, building decoration, building materials, nonferrous metals, steel, coal and other sector indices also fell back to less than 2%. Among them, the core leader of the day, "Golden Land Group", began to return to the daily limit under the main attack of a number of major market hot money.

At 2:35 p.m., "Gemdale Group" hit the daily limit with a huge volume, but its driving effect on the entire real estate sector and a number of "big infrastructure" main concept stocks is weakening. The long and short divergence of the "big infrastructure" main line of the entire market is increasing, driven by the divergence of market indexes and other main market sectors.

At 2:40 p.m., after the market continued to plunge, a lot of selling was cleared and active buying volume began to increase again.

At 2:43 p.m., the Shanghai Composite Index returned to a 1% increase, and the entire market began to form a weak rebound trend to repair the dive in the late trading stage.

At 2:45, driven by the return of 'Golden Land Group' to the daily limit, 'Oriental Yuhong' also quickly restored the high point pulled up in the early trading session and launched a new charge towards the daily limit.

At 2:47, various active capital groups in the market once again converged on the main line of "big infrastructure", and many concept stocks in the main sector of "big infrastructure" showed a rapid rebound in share prices.

At 2:49, 'Oriental Yuhong' hit the daily limit, driving the 'building materials' and 'building decoration' sector indices to rise again.

At 2:50, a large amount of funds that were intended to buy at the bottom began to intervene after the divergence.

Finally, in the last ten minutes of the trading session, the market formed a brief general rebound trend with the help of a large amount of bottom-fishing funds, funds betting on good news after the closing, and funds betting on the sentiment of tomorrow's opening.

Finally, when 3 o'clock in the afternoon arrived, the two markets closed.

The Shanghai Stock Exchange Index rose by 1.23%, recovering most of the intraday plunge, while the ChiNext Index still closed down 1.14%. The entire "big infrastructure" main-line related sectors led the gains in the two markets, while the entire Internet software, film and television media, electronic information, and new energy industry chain main-line sectors led the losses in the two markets.

"Oh, really... I chased high again. I thought the market would be able to break through today, but it didn't work again!"

After the two markets closed, among the large group of retail investors gathered on the online stock investment exchange platform, someone sighed helplessly.

"Failed breakouts have become the norm, and the short squeezes seen in the past two weeks are rare."

"If the line of 'big infrastructure' cannot be broken, then the entire market trend will basically be doomed."

"With such good market sentiment today, the 'big infrastructure' line has not been able to break through. It will probably be even more difficult to break through again in the future, right?"

"Who knows? Actually, the mood today is really good, but the selling pressure is a bit heavy."

"In the morning's market trend, whether it is the real estate, building decoration, building materials, nonferrous metals, steel, coal and other sectors related to the main line of 'big infrastructure', or the consumption, medicine, liquor, white goods, and financial sectors, they all rose quite well, and near the midday trading, the volume was also released. I don't understand why the selling volume in the market began to surge after the afternoon opening."

"It's not that the selling pressure is too great, but that the volume is not much. Judging from the final volume at today's closing, it is only less than 100 billion more than yesterday."

"Isn't this selling pressure big enough? Don't look at the entire market, just look at the line of 'big infrastructure', it really is a new high in transaction volume."

"The selling volume on the 'big infrastructure' line today is indeed not small."

“I don’t know where all these selling orders come from.”

"Most of the selling is from stocks that were locked up earlier, right? It seems that the institutions or the big funds that got involved earlier should not have sold much."

"That's hard to say. Let's wait and see. Institutions can also run away secretly."

"It shouldn't be institutions selling. After all, the stocks that institutions hold heavily today did not fall seriously in the afternoon. On the contrary, the small and medium-cap concept stocks that are basically not held by institutions have a very bad trend today. They didn't rise much in the morning, and then plunged in the afternoon, and basically didn't fall. Moreover, most of the closing gains were unable to outperform the market. In fact... Whether everyone admits it or not, the market investment trend and even investment style have shifted to blue-chip stocks and white horse performance stocks dominated by institutions. This is already a fact."

“I agree that the market investment style has indeed shifted.”

"No wonder the blue chip stocks in the market are so strong. It seems that we will have to adjust our positions in this direction in the future."

"Hot money should have also put a lot of effort into the 'big infrastructure' line today, right? Looking at the trend of the two popular stocks, Gemdale Group and Oriental Yuhong, their time-sharing charts clearly show that they are the work of hot money."

“Yes, it seems that hot money is also re-entering the concept stocks of the main line of ‘big infrastructure’.”

“Oriental Yuhong and Gemdale Group are not concept stocks.”

"Does this mean that the style of hot money in the market has also begun to change? They have begun to focus on blue-chip stocks with high performance in the mid-cap market?"

"It looks like this, but to know for sure whether it is mainly driven by hot money, we need to verify it on the Dragon and Tiger List..."

With the heated discussions and clash of opinions among a group of retail investors, time in the market passed quickly. Soon... at 5 o'clock in the afternoon, the Dragon and Tiger List of the two cities was announced.

When the new Dragon and Tiger List is updated, countless eyes in the market are focused on the updated Dragon and Tiger List.

What surprised everyone was that for Oriental Yuhong and Gemdale Group, the two stocks that everyone thought were mainly targeted by hot money, institutional seats actually bought a lot of stocks among the main buying funds today. Instead, it was visible that retail investors were concentrated in the selling seats, presenting an overall phenomenon of main funds scrambling to buy stocks, while retail investors were scrambling to sell.