Chapter 572 The Journey of the Bull Market (Seventeen)!

"The market's investment sentiment and expectations have begun to recover significantly." Xu Xiang, who was beside Zhou Kan, squinted his eyes slightly and stared at the changes in the two markets. "When it comes to the market, more and more people are beginning to be optimistic about the market outlook." If the market is expected to improve, the so-called negative impact will be greatly reduced. "

"That is, when the market is clearly rising, everyone will intentionally ignore the corresponding bad news."

"At the same time, the good news will be amplified accordingly."

"The influence of the trend of the external market last night has been obviously weakened by the gradually recovering expectations and sentiment development. Of course... this is a good thing. It at least proves that our expected judgment is correct. The market is indeed gradually getting rid of the previous shock pattern. Make a substantial breakthrough upward.”

"Also, under the influence of such expectations and emotions, the market's trading ecology should also undergo fundamental changes over time."

"What is called a trading ecology? There will be a fundamental change?" Zhou Kan didn't quite understand.

Xu Xiang smiled and continued: "The recovery of market sentiment and expectations will also promote the improvement of investors' risk appetite in market investment and speculation. The so-called 'bear market focuses on quality, bull market focuses on momentum', when the market trend As the structure and trends gradually change, the preferences and preferences of market funds will naturally change.”

"For example, under good future expectations, if the current main board direction is a group of blue chip stocks and white horse stocks near the historical extreme valuation level, then... in the eyes of funds, they will appear to be very undervalued and obviously have investment value. Likewise, The expected space for speculation among the currently hot leading concept stocks will also increase with the market’s rising investment sentiment and expected growth.”

"Just like the two stocks 'Fushun Special Steel' and 'Chengfei Technology'."

"Last week, it would have been impossible to achieve such a tyrannical continuous daily limit trend, let alone break through the third board and show such strong market expectations in the call auction."

"'The bear market focuses on quality, the bull market focuses on momentum'." Zhou Kan muttered this sentence again, and laughed, "It is really like this. It seems that in the main market field, some leading concept stocks on the trend are growing simultaneously in the expected space. In this case, its hype level needs to be re-evaluated.”

"Yeah!" Xu Xiang nodded slightly, "That's true. Only these stocks can first achieve market heights and money-making effects that exceed expectations, and then they can serve as a demonstration effect to attract more off-market investors. After all, ...Nothing can attract the strong desire of off-site investors to enter the market more than the expansion of the money-making effect. Similarly, only these stocks have a demonstration effect, attracting the continuous entry of off-site investors and increasing the active funds on the market. As the size of the group grows, the market will have the basis for continued bullishness.”

"after all……"

Xu Xiang paused and continued: No matter what the expectations are, the amount of funds is the basis for driving the market. Without the growth of amount of energy and the continuous addition of incremental funds, the market will continue to rise and the overall market will rise. There is no way to talk about it. "

"Yeah!" Zhou Kan nodded in agreement and asked, "Boss, which of these two checks, Fushun Special Steel or Chengfei Technology, do you like more?"

Xu Xiang pondered for a while, looked at the call auctions of the two stocks, and said with a smile: "The expected logic of the two checks is different, and the time to cash out the expected is also different. Analyzing from the expected logic, 'Fushun The reason for the increase in Special Steel's check is mainly due to the growth expectations of future performance due to the explosion of demand in the military industry in its main businesses, "nuclear power", "domestic aircraft carrier".

"In addition, the stock price has fallen low enough before, and last year's performance was bad enough."

“This led to the expectation that the future performance growth of this check will most likely explode rapidly. It also created a strong difference in expectations between strong follow-up expectations and extremely weak early expectations. This also led to the sharp rise in the stock price of this check. and a large amount of money involved in the game.”

"However, the realization of the expected future performance explosion, as well as the actual project implementation of 'nuclear power' and 'domestic aircraft carrier' will take as short as half a year and as long as one year to reflect, which has led to the early stock price of this check. After filling the strong gap in expectations, the subsequent trend will not be too smooth. There is a high probability... In the subsequent trend, active hot money groups will gradually stop profits and exit after the first wave of strong speculation, while those who value medium and long-term expectations will The institutional community may pour into this stock during the short-term adjustment.”

"In general, the market trend of this check should be trend-oriented, rather than a continuous wave of speculation. It is suitable to serve as the trend leader of the entire 'infrastructure' and 'military industry' main lines."

"Compared with the check of 'Fushun Special Steel'..."

"The expected logical fulfillment cycle of 'Chengfei Technology' is completely different."

"Currently, this check is enthusiastically sought after and hyped by everyone because it is the only stock expected to be reorganized in the direction of 'military industry reform and restructuring', 'military industry asset restructuring', and 'military industry enterprise mixed reform'. Such characteristics, superimposed The stock price naturally exploded based on the basic logical expectations of the 'military industry' line."

"But the logic of speculation for stocks with restructuring expectations is completely different from the logic of speculation for stocks with performance expectations."

"Restructuring expectations has only two possibilities: success or failure."

“In the early days when the news breaks out, expectations are definitely the strongest and the difference in expectations is also the strongest. But the closer it is to the timeline of the reorganization that everyone expected, or the clearer and more distinct the results of the reorganization, the weaker the expectations will be. Since the stock price reflects market expectations, the trend of the stock price is usually a wave of trend. After a wave of speculation, after the restructuring expectations are heightened, once the stock price falls into an adjustment, it will be difficult to regain momentum. "

"So, regarding the expected market trends of the two stocks..."

"In the short and medium term, Chengfei Technology is definitely better in terms of height, but in the long term, the two are incomparable."

"Actually, these two checks..."

When Xu Xiang said this, he paused again, organized his words, and continued: "Today should be the point of divergence between the two trends. The possibility of 'Fushun Special Steel' continuing to hit the daily limit today is very low. It is probably Maintaining a high and volatile trend, 'Chengfei Technology' obviously has no pressure to break through the third board, and... this check is very likely to become the well-deserved leader of concept speculation in the market's short-term time line. "

“More than three boards can be expected.”

"A five-board height or even a seven-board height is completely expected."

"Of course, where the speculation can be in the end and how much high space can be achieved depends on the specific funding situation on the market, as well as the expected changes in the participation of various funds in the market. After all, leading stocks are behind, in addition to expectations, Fund risk appetite and market sentiment are the most important things.”

"Understood!" Zhou Kan nodded, "Then it should be reasonable to continue to increase positions in 'Chengfei Technology' after the market opens."

After saying that, Zhou Kan turned his attention back to the trading boards of the two cities.

At this time, the market has completed the call auction. The Shanghai Index was priced at 2395.33 points, up 0.32%, while the Shenzhen Index and ChiNext Index fell 0.12% and 0.29% respectively. Nearly 1,100 stocks in the two cities opened in the red, with 700 The remaining stocks opened slightly lower.

Judging from the overall opening conditions of the two cities, this situation is slightly higher than the expectations of the majority of investors in the pre-market market.

As for the popular main lines that have attracted much attention in the two cities, as well as popular industry sectors and concept sectors.

A number of industry sectors and concept sectors in the two main areas of 'infrastructure' and 'military industry' have all achieved higher openings to varying degrees; while in the main area of ​​'technological growth', only 'consumer electronics' has slightly increased. After recovering, the rest opened lower. Among them, the 'Internet Finance' and 'E-commerce' sectors, which were relatively resilient yesterday, showed obvious replenishment during today's call auction stage.

Of course, even in the main line of 'technological growth', a number of concept sectors have generally shown a trend of opening lower.

However, its performance is still slightly stronger than the market investor group's expected performance in this field.

After all, everyone thought that the line of 'technological growth' would continue to collapse after the continuous decline of 'LeTV. In addition to the 'Internet Finance' and 'E-commerce' sectors, as well as the 'Film and Television Media' sector, which had surged in the previous period and was now most affected by the continuous drop of the limit by 'LeTV', there was an obvious trend of sharply lower openings. After two consecutive days of extreme decline, there are signs of temporary stabilization.

In addition to the performance of the main line of the market, the performance of industry sectors and concept sectors.

The performance of popular leading concept stocks that have attracted much attention in the two cities...

I saw that 'Fushun Special Steel' finally opened higher at 5.28%, and the trading volume was quite active, but the funding gap has expanded compared to the previous two days; 'Chengfei Technology' opened higher at 8.63%, approaching At the daily limit position, 76 million yuan of funds were transacted in the call auction alone. The trading on the market was extremely active, and the enthusiasm for capital participation was also very high. There is a strong momentum to continue to raise the limit; 'LeTV' continued to fall to the limit, and the limit order closures were attenuated compared to yesterday. , but it is still as high as more than 200,000 lots; 'Yinkou Port', which received extremely high attention yesterday, finally opened higher at 6.22%. On the market, the willingness to do more funds is also very strong.

As for "Beijiang Communications Construction, Shanghai Construction Engineering, Tianshan Cement, Pudong Construction, Beijing Capital..." and other early popular concept stocks in the field of "big infrastructure", although at this moment, most of them have still opened higher. However, the popularity and activity of capital trading on the market have declined compared to before.

Among them, 'Beijiang Communications Construction', the leading stock in the early period, only opened higher with an increase of about 0.5% on yesterday's Dragon and Tiger List, without the 'Fortune Road' smashing the market. The market capital divergence was huge. It seems that the stock price is at this position and it is difficult to continue trading higher.

And the weight of the fields of 'infrastructure' and 'military industry' such as 'Huaguo MCC, Huaguo Railway Construction, Huaguo Communications Construction, Huaguo Construction, Kewan Real Estate, Gemdale Group, China Aviation Optoelectronics, Aviation Power...' Large-cap stocks maintained an upward trend, slightly outperforming the Shanghai Stock Index's gains. They were basically not affected by the correction late yesterday due to insufficient market capacity. The market sentiment was still quite active.

In addition to the core main lines and core stocks.

Although the performance of other stocks in the market mostly follows the changes of the market index, the trading of funds on the market and the opinions of retail investors in the comment area of ​​individual stocks are mostly developing in a positive direction. Whether it is trading volume or expectations, they are gradually improving.

In general...

After the market officially broke through the 2,300-point point pressure, the overall investment sentiment and investment confidence have undergone a more obvious change than before. Although from the overall point of view, the market has not really gotten rid of the pattern of stock game, the potential investor groups who are hesitant and waiting outside the market have already been attracted by the market's money-making effect and are slowly entering the market with funds.

Faced with such an opening situation in the two markets.

The vast investor groups in the market, whether they are retail investors, medium and large hot money, private equity management institutions, public equity management institutions, or the proprietary business groups of large financial institutions, are still somewhat surprised and feel that this opening situation is somewhat beyond the psychological expectations before the market.

At the same time, facing the good opening scene of the market.

During the discussion and the collision of opinions, people continued to be optimistic about the future market and planned to continue to do more in the market stocks. The expected viewpoints still clearly had the upper hand. The short-selling forces did not successfully counterattack under the hidden concerns of the external market trend, thus suppressing the long-selling forces in the market.

During the discussion of topics and the collision of opinions, emotions brewed for a short period of 5 minutes.

The two markets, which were briefly frozen, began to jump again after the time reached 9:30.

As soon as the market started to jump, the stock price of the highly concerned ‘Chengfei Technology’ went straight to the daily limit at lightning speed, and after the explosion of 120 million, it completely closed the daily limit in less than half a minute, successfully crossing the pressure barrier of the third board.

Of course, this check was closed at the daily limit in seconds.

It also caused many investors in the market who were optimistic about the check market to be blocked outside the buying channel before they had time to formally place orders.

Then, at 9:31, driven by the daily limit of ‘Chengfei Technology’

The ‘National Defense Military Industry’ industry sector index and its related concept sector indexes all rose rapidly, making the entire ‘Military Industry’ main line related sectors once again occupy the top positions in the two cities’ concept sector and industry sector growth list.

At the same moment, the follow-up funds that failed to successfully buy ‘Chengfei Technology’ instantly overflowed and flowed to ‘Fushun Special Steel’, which was also highly concerned and traded fiercely, causing the stock price of this check to rise straight within one minute, breaking through the 7% increase mark.

And the rise of ‘Fushun Special Steel’.

It also inspired its related ‘Steel’, ‘Nuclear Power’, ‘Domestic Aircraft Carrier’ related sector indexes, and the corresponding component concept stocks within the sector to rise simultaneously, and the capital follow-up sentiment also quickly spread from these sectors to the entire ‘Big Infrastructure’ main line.

So, after the opening, in just 5 minutes.

Under the comprehensive drive of ‘Fushun Special Steel’ and ‘Chengfei Technology’, and the rapid performance of the two major main lines of ‘Military Industry’ and ‘Infrastructure’.

The Shanghai Composite Index has come below 2,400 points, once again just one step away from breaking through this integer mark.