Rebirth of the Capital Legend

This was affected by the rapid decline of two core popular stocks, 'Golden Land Group' and 'Oriental Yuhong'.

At the same time, the indices of sectors such as real estate development, building decoration, building materials, nonferrous metals, steel, and coal, as well as a number of constituent stocks within the sectors, were also suppressed by large amounts of active selling in the market, and stock prices and sector indices fell rapidly.

At 1:02, the real estate development sector index fell by 2.38%. Within the sector, a number of leading core stocks including Poly Real Estate, Kewan Properties, China Merchants Shekou, and Greenland Holdings all fell by more than 2.5%. Among them, Gemdale Group's decline had reached 5.59%.

At 1:03, 'Shou Chuang Group', a former hot concept stock in the real estate sector that rebounded sharply yesterday and also showed a trend of rising and falling this morning, fell by 7% and seemed to be about to hit the limit down. A lot of panic selling has already appeared on the market.

At 1:04, when the entire "big infrastructure" main line was rapidly declining and all sector indexes fell below the water level, the trend of the ChiNext Index at the same time, as well as the trends of the main sectors of the film and television media, Internet software, electronic information, and new energy industry chain that were highly correlated with the ChiNext Index trend, appeared to be even worse. At this time, the decline of the ChiNext Index had expanded to nearly 2%, while the Internet software sector and its corresponding concept stocks showed a trend of leading the decline in the two markets.

At 1:05, the Shanghai Composite Index fell nearly 1.3%, and the A50 Index, after a brief decline at the opening, began to rebound. At the same time, defensive sectors such as liquor, white appliances, medicine, and finance, at this time, the corresponding core leading stocks on the market, after a wave of concentrated selling was released, also began to continue to show some active buying.

At 1:06, the decline of A50 Index narrowed to less than 0.5%. At the same time, the stock of 'Qianzhou Moutai' turned positive again.

At 1:07, the share price of Minshang Bank turned positive and rose, and many fund groups in the market began to re-enter the market's safe-haven sector.

At 1:08, the decline of the A50 Index narrowed to less than 0.3%, and it was showing signs of returning to the red.

At 1:09, driven by the A50 Index, the decline of the Shanghai Composite Index narrowed to around 0.7%. However, while the decline of the Shanghai Composite Index narrowed, the declines of the ChiNext Index and the Shenzhen Index not only did not narrow, but were gradually declining.

At 1:10 am, a number of blue-chip core weighted stocks that were fully supported by market institutions, including Hengrui Medicine, Minshang Bank, Qianzhou Moutai, Gree Electric Appliances, etc., rebounded and turned positive.

At 1:11, the share price of 'Golden Land Group' fell by 7.5%.

At 1:12, after Oriental Yuhong's share price briefly touched a 7% drop, trading volume rapidly expanded, and a large number of buying funds began to enter the market to buy at the bottom.

At 1:13, after a sharp drop in the early afternoon trading, the two markets began a brief rebound.

At 1:14, the indices of various industry sectors under the main line of "big infrastructure" bottomed out and rebounded, the intraday trading volume showed an amplifying trend, and a large amount of bottom-fishing funds entered the market to take over.

At 1:15, among the ChiNext index constituent stocks, a number of severely oversold stocks such as 'LeTV', 'Baofeng Technology', 'Netspeed Technology', etc., also saw the intervention of a large number of bargain-hunting funds. Among them, 'Baofeng Technology', which had a smaller market cap, even showed a straight-up trend at this moment.

At 1:16, Oriental Yuhong's share price rebounded to within 5% of the decline.

At 1:17 am, the decline of a number of core weighted real estate stocks including Poly Real Estate, Kewan Properties, and China Merchants Shekou Holdings Limited was reduced to less than 2%.

At 1:18, the decline of the Shanghai Composite Index narrowed further to 0.5%.

At 1:19, the components of the A50 index turned positive. Among its component stocks, most of the leading weighted stocks in defensive sectors such as liquor, white appliances, medicine, consumption, and finance rebounded.

At 1:20, the stock price of 'Storm Technology' rose straight from the lowest point of nearly 7 points to a position close to the flat line, which briefly triggered a wave of bargain-hunting sentiment in the Internet software and film and television media sectors, and caused a number of small and medium-cap concept stocks in the market to show a clear bottoming out and rebound trend.

At 1:21, after the bottom-fishing funds were exhausted, the intraday trading volume in the two markets began to shrink again.

At 1:22, the Shanghai Composite Index, Shenzhen Composite Index and ChiNext Index, which had rebounded briefly, turned around and fell again, and the selling pressure within the major main sectors also emerged again.

At 1:23, when all indexes began to fluctuate downward again, the A50 index continued to rise against the trend.

At 1:24, the share price of 'Qianzhou Moutai' rose by more than 1%, and the increase in the A50 index sector also further expanded.

At 1:25, the decline of Oriental Yuhong widened to 6%.

At 1:26, after a brief straight-line rise, the stock price of "Baofeng Technology" showed a straight-line downward trend again, the selling pressure was heavy, and the intraday trading volume began to decrease rapidly.

At 1:27, in the main field of "big infrastructure", a number of previously popular concept stocks all showed an unresistance downward trend, such as "Shenhuo Co., Ltd.", "Pingmei Energy", "Tianshan Cement", "Beijiang Communications Construction", "Capital Group", "Yu Development", "Bayi Steel", "Linggang Co., Ltd."... A number of stocks directly swallowed up the previous rebound gains in a short two or three minutes and fell back into the intraday low.

At 1:28, the share price of 'Golden Land Group' fell and re-reached the 7.5% level.

At 1:29, the A50 Index rose against the trend by 0.5%. In addition to the 'Qianzhou Moutai' stock price rising against the trend by 1%, the share prices of 'Gree Electric Appliances', 'Minshang Bank', 'Shanghai Auto Group' and many other constituent stocks of the A50 Index rose by 1%.

At 1:30, the Shanghai Composite Index fell back to 1%, showing a trend in the opposite direction of the A50 Index.

At 1:31, across the market, most stocks hit new intraday lows again, and the active main capital flows in the market further converged on defensive sectors such as 'white wine', 'white appliances', 'pharmaceuticals', and 'finance', and began to siphon capital flows from other main sectors.

At 1:32, the share price of "Golden Land Group" fell by 8%, which has completely swallowed up the gains of this round of rebound.

At 1:33, the share price of "Capital Group" hit the lower limit, becoming the first turnover component stock to hit the lower limit in the real estate sector.

At 1:34, after "Capital Group" hit the lower limit, the selling sentiment in the entire real estate sector became more intense, and it also affected the trend of stocks with similar concepts in other sectors such as building decoration, building materials, nonferrous metals, steel, coal, etc.

At 1:35, the share price of "Storm Technology" also fell by 6%, swallowing up the rebound gains.

At 1:36, the decline of the real estate sector index widened again to around 2.4%. Except for a few core weighted stocks such as Poly Real Estate, Kewan Real Estate, China Merchants Shekou, and Greenland Group, which were able to slightly maintain a weak and volatile pattern, other component stocks had been completely suppressed by the panic selling force in the market and could not raise their heads. The stock price continued to fall, with basically no resistance. While the selling pressure became heavier, the active buying power was still weakening.

At 1:37, the share price of "Golden Land Group" fell by 9%, getting closer and closer to the limit.

At 1:38, the decline of Shenhua Coal, a heavyweight stock, suddenly widened to 3%, with a large sell order of tens of thousands of lots appearing during the trading session.

At 1:39 am, except for the banking, liquor and pharmaceutical sectors, all other sectors in the two cities fell.

At 1:40, the film and television media and Internet software sectors continued to lead the decline, and the declines in the two major sector indices have exceeded 3.5%.

At 1:41, "Golden Land Group" hit the lower limit. Its intraday trading volume rapidly expanded at the moment its stock price hit the lower limit. There were many sell orders of tens of thousands of hands, as well as many buy orders of tens of thousands of hands. In general... looking at the performance of the buying, bottom-fishing funds are obviously more active in the real estate sector than in oversold sectors such as Internet software, film and television media.

At 1:42, after hitting the lower limit, the share price of Gemdale Group rebounded quickly.

At 1:43, the share price of 'Golden Land Group' rebounded to around 8%. At the same time, new bargain-hunting funds began to pour in, and all the severely oversold stocks in the market received some buying attention.

At 1:44, the A50 Index's gains were still expanding, reaching 0.77%. The Qianzhou Moutai stock, which was heavily concentrated among institutional funds and was also the core leading stock where a large number of on-site funds concentrated for risk aversion, had gained about 1.5%.

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At 1:45, the momentum of the sell-off in the two markets weakened again, and the market once again entered a weak rebound trend after the sell-off.

"It's really hard to rebound for half a day, but it all fell back in half an hour." Noticing that both the index and the related core mainline stocks in the market have swallowed up all the rebounds in the past two days, Yu Xiaolu sighed helplessly in the trading room of the 'Jufeng Future Growth' fund product inside Jufeng Asset Management Company in Shanghai, "I'm afraid the previous adjustment low point can't be maintained!"

"The A50 index and a number of its constituent stocks are performing quite strongly." Hearing Yu Xiaolu's sigh, Lu Xiangxiang responded, "Although the concentration of funds in the market on the core leading stocks is not conducive to the overall market trend or the evolution of market sentiment, it still shows that the funds in the market are not leaving easily. As long as the current panic selling sentiment passes and the market trend stabilizes, these funds will most likely leave these core stocks and flow back into other stocks in the market to go long."

Yu Xiaolu nodded and responded: "This can only be said to be the only consolation in the unfavorable market trend."

"As long as the funds are still in the market, there is hope." Lu Xiangxiang said, "But... this position has not been able to go up. The 'big infrastructure' line has not been able to take advantage of this wave of sentiment and market benefits to form a breakthrough trend, so the subsequent adjustment time will definitely be extended."

Yu Xiaolu said: "This is inevitable, but there is no need to worry too much. Looking at the trend in today's market, even after the emotional collapse, there is a serious panic selling in the market, but there is still a lot of money rushing to the main line of 'big infrastructure' to buy the bottom. This shows that many capital groups still have high expectations for the 'big infrastructure' line."

"That's true." Lu Xiangxiang nodded slightly. "In fact, if you think about it carefully, the more violent the trend here is, the more volume will be released, so that more stop-loss orders and locked-in orders accumulated in the market can be sold out. This is actually conducive to the internal chip exchange and can further accelerate the re-formation of the chip structure."

"It is what it is," said Yu Xiaolu. "The short-term trend of the market may be ugly, but the long-term trend is likely to be very optimistic."

"I originally thought that the liquor, white goods, and financial sectors had risen so much in the past six months, and it was time for expectations to be fulfilled," said Lu Xiangxiang. "But looking at the current situation, it seems that institutional groups and many large market investors still have strong purchasing power for these major leading stocks that are highly defensive and have strong underlying logic and expectations of future performance explosions."

"The core leading stocks in the liquor, white goods and finance sectors have become the market's safe-haven products." Yu Xiaolu said, "This not only talks about the spontaneous behavior of various funds in the market, but I also think there is also the macro-control behavior of the 'national team'.

Let’s talk about the biggest holding force on these stocks.

In fact, it is not an institution, but a large state-owned fund headed by the "national team".

Moreover, the market investor groups have already formed a certain mental inertia regarding the trends of these stocks.

Therefore, I estimate that as long as the fundamental logic of these core leading stocks is not problematic and their valuations are not too far away from the market average, these stocks will most likely continue to be the target of various fund groups in the market when the overall market trend is generally poor and the market lacks money-making effects. "

"Well, maybe." Lu Xiangxiang nodded, and said with a little regret, "What's a pity is... we didn't build many positions in these core leading stocks before. Now that all the positions have been transferred to the main line of 'big infrastructure', there is no spare position to buy these heavyweight leading stocks."

"It doesn't matter." Yu Xiaolu said, "In my opinion, although the major mainline sectors of liquor, white appliances, and finance have become the sectors where the market continues to gather and funds are seeking risk aversion, in terms of the expectations for the next one or two years, as well as the current valuation conditions and the expected explosive power of stock prices, the leading stocks with the weight of the core mainline of 'big infrastructure' are more certain and have more explosive power.

We just need to grasp the market trend of the core theme of "big infrastructure".

There is no need to be greedy for the expected profits and investment opportunities in the liquor, white goods, pharmaceutical and financial sectors at this time.

After all, our fund products are not the huge tens of billions of funds in the industry. We can only make a single-direction layout to maximize the performance of the net value. "

"Okay!" Lu Xiangxiang nodded, and then turned her gaze back to the two market charts.

While the two of them were talking, the market trading time had already entered 2 o'clock in the afternoon.

When the market trading time enters the last hour of trading, the performance of various market indexes, main sectors and stocks, and their oscillation patterns, can be said to be more and more violent, and the battle between bulls and bears within the market is also becoming more and more fierce.