Rebirth of the Capital Legend

"Today's market trend is indeed seriously below expectations." Zhang Wei also responded at this time, "I originally thought that even if the core theme of 'big infrastructure' and a number of industry sector indices could not break through in terms of trend, they would still touch the previous highs. I didn't expect that..."

"It's mainly because of the lack of buying power in the market," Liang Jiucheng said. "The 'big infrastructure' line itself is not small, and when it rises to this position, it has indeed touched the core area of ​​the historical trapped positions of the entire main line. More buying power is needed to release these historical trapped positions and continue to create space upwards. However, in the current market... there is not much money outside the market that is willing and dares to enter the market to take over."

"Alas, I really underestimated the selling pressure in the market." Zhao Zhiyuan continued to sigh and said, "It seems that the time and space for adjustment of the 'big infrastructure' line is indeed not enough."

"I originally thought that a strong upward breakthrough at this time would be very difficult." Zhang Wei said, "We still have to wait for the market to shrink further and for the chips in the entire 'big infrastructure' main line to settle down again. Fortunately, the position is not heavy and can be pulled out at any time."

After saying this, without waiting for the two people to respond, he had already started to sell chips and reduce his holdings in the two stocks "Gemdale Group" and "Oriental Yuhong".

At a time when a number of hot money investors who had intervened were reducing their positions and were not optimistic about the market continuing to break upward.

At this time, on the stock investment exchange platform across the entire network, many retail investors began to complain more and more as the index and the corresponding core line both rose and fell, and the trend became increasingly weak.

"What kind of rubbish trend is this? It didn't rise much and started falling again."

"Alas, I was fooled again this morning. I bought the high price of 'Oriental Yuhong'. It's really... I get fooled every time. This position has been fluctuating for several days. Why can't it break through?"

"Why do I feel that last night's good news is just to help the big funds to sell today?"

"I really can't chase high prices. I've lost a lot of money chasing high prices these days. Sigh... Is the 'big infrastructure' line also not working? If it can't go up from this position, I feel there will be a big drop in the future!"

"But this doesn't count as chasing highs. Apart from stocks that have hit the daily limit due to restructuring, there haven't been any stocks that have hit the daily limit twice in a row. The hype is really bad. It seems that the hot money that intervened in the market yesterday is running away this morning. The main funds in all the major hot stocks are showing a net outflow trend."

"Indeed, except for stocks with a one-line limit in the direction of restructuring, the space for normal hype stocks to rise in a row has been suppressed to within two consecutive days."

"The hot money in the market is becoming more and more cautious in its actions now."

"There aren't many active speculators in the market now, right? Yang Jia, Zhang Mengzhu, Sun Ge, Su Zong...all seem to be out of the game. Only the 'Gu Su Group', 'Qi Lu Group', and 'Fu Shan Group' are still active."

"Does this mean that the current market sentiment is still poor? There is not much active long funds at all."

"How can it not be bad? Look at the Internet software, electronic information, film and television media... these main sectors have hit new lows again."

"It's not just these main sectors that have hit new lows. A small portion of the small and medium-cap concept stocks in the market have also hit new lows."

"Alas, I feel that the Shanghai Stock Index has been completely distorted and cannot reflect the real situation of the market at all."

"The Shanghai Composite Index has been kidnapped by the A50 Index. Looking at the pharmaceutical, consumer, liquor and financial sectors that are strongly related to the A50 Index, the trend is indeed good and has risen a lot overall this year. But in fact, the vast majority of stocks in the market have fallen by more than 20% this year."

"To tell the real story, we have to look at the performance of the ChiNext Index."

"Indeed, the ChiNext Index has now hit a new low, which shows that the small and medium-cap stocks in the market are basically not going to do well."

"Still investing in small-cap stocks? The investment style of the market has clearly changed now."

"The market's heavyweight stocks have also been somewhat stagnant recently. I don't think this is a matter of changing investment styles in the market at all."

"Is it a problem of the market's own investment confidence and investment sentiment? It seems that investors are generally not optimistic about the future market."

“Isn’t it a funding issue? In fact, market sentiment is not bad. The key is that it cannot attract incremental funds from outside the market. This has led to the existing funds in the market playing games. The game of existing funds will naturally lead to faster and faster changes in market trends, and the sustainability will become worse and worse.”

“It seems that if the central bank and regulators do not issue some stimulating documents, it will be difficult to attract off-market funds to enter the market, right?”

"Yes, I feel the same way. Currently, the active large capital groups outside the market should have all been attracted to the real estate market. Compared with the current stock market, the real estate market is much hotter. If I had so much money, I would also speculate in real estate instead of stocks. The current stock market has entered a full bear market stage. If you want to make stable profits in a bear market, you must be a top expert. It is simply impossible."

"Most of the first-tier speculators have taken a break. Doesn't this prove something?"

“No wonder the volume has not been released. It’s because all the funds have been sucked away by the property market.”

“That’s not the case. In fact, if institutions can guide the market and create a trend like the first wave of the main ‘big infrastructure’ main line, and condense the market’s continuous money-making effect, there will still be a lot of off-site incremental funds willing to enter the market to do more, and market confidence will also be able to rise.”

"That's still a little different. Previously, the core theme of 'big infrastructure' was able to break out of the continuous short squeeze. The overall position of the 'big infrastructure' line at that time, as well as the overall position of the market, was originally oversold to a certain extent. In addition, the upward pressure was not great at that time. When the main line and the corresponding stocks were in an oversold state, all the chips were locked up. In the initial rising stage, not many people were willing to sell. But now the situation is obviously different from that time."

"Indeed, if we want to continue to rise now, we obviously need more volume."

"It doesn't mean that we have to buy more incrementally. It's actually possible to trade time for space."

"If we trade time for space, doesn't that mean the market will pull back and there will be a bigger adjustment?"

"If the price can't go up, it will naturally have to adjust downward."

"Fuck... the institutions didn't provide any guidance, and just let the market trend fall freely."

"Institutions want everyone to support them, so how can they support us retail investors? Currently, in the main line of 'big infrastructure', a large number of previously accumulated locked-in shares have not been sold out, and there are also profit-taking shares that have not been taken out. I estimate that even if the 'big infrastructure' line will rise in the future, it will have to wait until these selling orders are cleared."

"If the sentiment doesn't pick up... the market will probably continue to shrink!"

"It's obvious that more and more funds will leave the market."

"Alas, I shouldn't have such unrealistic fantasies. I'll stop the loss tomorrow and not play for the time being."

"The recent market situation is really difficult to trade. When you think it's going to rise, it suddenly falls. When you think it's going to fall, it suddenly rises again, making you chase higher prices."

"The volatile market is prone to slapping you in the face. At this time... you should still buy low and sell high."

“Buy low and sell high. It’s easier said than done!”

"Oh my god, the 'Golden Land Group' has dropped by almost 2 points. Sigh... Today is another day of big losses!"

"Gemdale Group is okay, but the one I bought from Capital Group is terrible, the drop has widened to 5%."

"Is the real estate sector going crazy today? Even with such a sharp drop, Hong Kong and Chinese real estate stocks are still rising. I really don't understand."

"A-share real estate stocks do not follow the trend of Hong Kong-listed domestic real estate stocks at all. The two are not at the same trend level at all, and the main funds involved are completely different."

“It’s still that the institutions in the field lack structure.”

“Is it possible that institutions haven’t sold much recently?”

Read the error-free version at 69shuba! 6=9+shu_ba is the first to publish this novel.

"Who is selling? Look at the real estate sector, building decoration, building materials, nonferrous metals, steel, coal... these sectors, the big funds have gone from net inflows in the early morning to net outflows. Doesn't this mean that the main force of big funds is selling?"

“That indicator is totally useless.”

"Institutions should not have sold their stocks. The ones selling their stocks were mainly large speculators who intervened in the short term and retail investors who were stuck with stocks."

"Regardless of whether this indicator is useful or not, there is no hope for the 'big infrastructure' line today. Not only is there no hope, it is estimated that it will directly lead the overall market index and other small and medium-cap stocks into the ditch."

"As soon as defensive sectors like finance, consumption, medicine, liquor, and white goods rose, I knew today's market was doomed."

"I really don't understand. The market is obviously not good, but these defensive sectors are still rising. Damn... In the main financial sector, the index of the banking sector has basically recovered the original 5000-point position of the Shanghai Composite Index."

"There's nothing we can do about it. The financial, consumer, pharmaceutical, white goods, and liquor sectors are not only heavily invested by major institutions, but are also heavily invested by the 'national team.' When the 'national team' stabilizes the index, they always pull these weights. How can stocks not rise?"

"Alas, it is these big guys that suck up all the liquidity of small-cap stocks."

“Liquidity in small-cap stocks dried up a long time ago.”

"Small-cap stocks are now ignored, so... we should try to avoid small tickets. Since institutions have joined forces to hype up large-cap stocks, we should just follow suit."

Along with the complaints and discussions of many retail investors in the market...

Market hours continue to move forward.

At 10:30, after an hour of intense trading, all the industry sectors and concept sectors of the main line of "big infrastructure" had given up their gains after the opening and returned to near the flat line, while the two popular stocks "Gemdale Group" and "Oriental Yuhong" also fell back below the water level.

At 10:40, within the main line of "big finance", the banking sector index rose by 0.73%, leading the two markets, while film and television media, Internet software, electronic information, etc., a number of concept-themed sectors that have been basically abandoned by the big capital groups in the market, still showed a trend of leading the market decline.

At 10:50, the liquor and white appliance sectors continued to rise, but the Shanghai Composite Index and the ChiNext Index continued to decline.

At 11:05, the Shanghai Composite Index turned to decline, and most stocks in the two markets were already underwater.

At 11:10, the share price of "Gemdale Group" fell to 3%, with a daily fluctuation of nearly 10%, and the entire real estate sector index also fell by nearly 1% during the day.

At 11:20, all sectors related to the main line of "big infrastructure" turned to decline.

At 11:30, when the two markets closed at noon, except for the A50 index which rose against the trend, other indexes fell below the water level. Among them, the decline of the ChiNext Index even expanded to 1.53%. Moreover, due to the weak market trend, except for a few three or four hundred stocks that rose in the two markets, other stocks also fell below the water level.

"Alas, the market trend this morning was seriously below expectations." After the two markets closed at noon, Xu Qiao, one of the main speculators in the Magic City Ultra-short Gang, stared at the market, sighed, and said, "I originally thought that even if it couldn't break through directly, it would maintain a relatively strong shock situation. I didn't expect that after a wave of pullback at the beginning of the session, it actually showed a unilateral downward trend."

Hearing Xu Qiao's sigh, Lao Zhang in the group nodded and responded: "Indeed, this trend is really far below expectations, and judging from the situation... the market trend will be even worse in the afternoon. The 'big infrastructure' line cannot bring up emotions and money-making effects. Once the emotions collapse, after the afternoon opening, more funds will converge on the main defensive sectors such as consumption, medicine, and finance."

"The funds in the market have completely learned their lesson." Old Wu also responded at this time, "When they see that the situation is not right, they start to concentrate on the pharmaceutical, consumer, and financial sectors, and the retail investors in the market start selling their stocks as soon as they see these sectors rise."

"Isn't it because the institutions always do this kind of manipulation that makes everyone form this kind of manipulation inertia?" Xu Qiao said, "If you want to blame someone, blame the main players in the market. They really have poor understanding and pattern. With such good sentiment in the early trading, in fact, with a little guidance, the 'big infrastructure' line can go up."

"That's hard to say." Brother Chen laughed and said, "The overall volume of the 'big infrastructure' line is still too large. The current market volume may not be able to support the overall upward breakthrough of this core line. We can only use time to exchange space and let the volume further shrink before we can have a chance to get out of the second wave of the market."

"Let's not talk about the 'big infrastructure' line." Lao Zhang paused and said, "The film and television media, Internet software, electronic information, which are closely related to the trend of the ChiNext Index, are the sectors that really have problems. They just won't rebound no matter what, and each wave is lower than the previous one."

Old Wu responded: "The investment style of the market has completely changed a long time ago. There is no money willing to speculate on the main line of concepts and themes that are not supported by substantial performance expectations. Moreover, the historical locked-in positions in these main line sectors are extremely heavy. Except for the occasional oversold rebound, the hot money in the market is not willing to touch these sectors. In general... the current market has few opportunities for speculation and investment. Except for the 'big infrastructure' which still has certain strong expectations and room for speculation, other main lines are not worth seeing."