Chapter 681: Opening Below Expectations!

At 9:15, of the nearly 2,000 stocks participating in transactions in the two cities, half were in the red, and half were either flat or slightly down. Among them, the securities sector and Internet financial sector indexes in the main line area of ​​'Big Finance' opened slightly higher, and the 'Infrastructure' , the core industry sectors and concept sectors in the main line of 'military industry' opened significantly lower, leading the market decline.

And yesterday, the stock of Chengfei Integration, which announced the failure of its restructuring, opened with a one-word limit drop.

At the same time, it was affected by the impact of the check of "Chengfei Integration" falling by the limit.

The entire concept theme of 'reform and reorganization of central and state-owned enterprises' has been greatly affected. Many stocks with the core concept of 'reform and reorganization of central and state-owned enterprises' have shown a trend of opening significantly lower. On the initial call auction, the volume of selling was strong. It is extremely heavy, and the expectations of market investors in this regard have also been hit extremely hard.

Similarly, affected by the check of "Chengfei Integration", the "military industry" sector also obviously suffered a heavy setback at the beginning of the collective bidding.

Many core concept stocks with expectations of "military asset restructuring" and "military asset securitization" such as "China Airlines Heavy Machinery, China Airlines Shenfei, Aerospace Development, Aviation Power, Hongdu Aviation..." all fell sharply. Open, the selling on the market is very heavy.

There are also some core stocks in the "infrastructure" field with strong restructuring expectations.

At this moment, it was also seriously dragged down by the opening form of the check "Chengfei Integration".

Moreover, in addition to the "infrastructure" and "military industry" sectors that were affected by the "Chengfei Integration" check, almost all low-level stocks, low-level main lines, and low-level concept-themed sectors that clearly rebounded yesterday, and even concentrated on counterattacks, at this moment, also It did not show any premium due to the favorable external market trend last night.

Immediately afterwards, the market showed an obviously less than ideal initial call auction opening pattern.

9:16, 9:17, 9:18...

As the call auction time passes, the overall shape of the market begins to become increasingly weak.

Seeing that the shape was wrong, it was difficult for active buying funds to absorb the selling chips pouring out of the market under such circumstances. Many investors who were originally hesitant and not so determined began to follow the trend and sell on the market. , further suppressing the market.

"The check of 'Chengfei Integration' feels like it will become an obvious drag factor in today's market performance!" At 9:18, in the main fund trading room of Yanjing Yihe Capital Company, Gao Xiang, the trading team leader, stared at the real-time changes. He frowned at the market prices of the two cities and said, "The trend of this call auction seems a bit bad. It is obviously developing towards a worse and worse trend."

Fund manager Chen Yihe, who was standing behind Gao Xiang, squinted at the market performance, chuckled, and responded with a smile: "Affected by the failure of the reorganization of 'Chengfei Integration', today's 'reform and reorganization of central enterprises and state-owned enterprises'" This main line of conceptual themes, investment logic, and future expectations may be affected to a certain extent, but overall... the market's 'bull market' pattern has been formed, and the trend should not be easily reversed.

Especially the current hot line of ‘big finance’.

We are still in a continuous short-squeeze situation, and the major institutional groups that have been short-selling the market before will most likely continue to compete on a large scale at this position.

Moreover, our fund has a position structure.

It has long since moved away from the two main lines of ‘infrastructure’ and ‘military industry’ and moved to the main line of ‘big finance’.

Therefore, for the time being, this is just a small episode in the changes in market conditions. It will not cause too much trouble for the overall macro market trend, nor will it cause much interference to our fund's positions and net worth performance. "

Gao Xiang heard Chen Yihe's words and saw that his eyes were always calm and full of confidence. After thinking for a moment, he couldn't help but nodded and said: "I hope so, but I always feel that the market's current profit and settlement position, It is still a bit too heavy to suppress the upward trend of the market. I am afraid it will not be so easy to move up to the 3300 point level!”

"Even if you can't go up today, you should be able to go up tomorrow." Chen Yihe said, "As long as the macroscopic form of the market's 'bull market' has not changed, as long as the market's turnover is still in a continuous increasing trend, as long as the financing balance is still there Increase, as long as the incremental capital groups outside the market, as well as the position weights of major institutional groups, and the position level are still rising continuously, then short-term resistance at the market point will not be able to block the upward pace of the Shanghai Stock Index.

We...

Now that we have decided to change our investment ideas and strategies from the previous shock market form to the current bull market form.

Then there is no need to worry too much about the market trend during the day.

As the saying goes, ‘In bear markets and volatile markets, we should stop as soon as the market is good, but in bull markets, we must hold on to the bargaining chip to reap huge profits.’ We... still need to be more patient. "

"Okay!" Gao Xiang nodded, then turned back to focus on the two markets.

At this time, with the passage of trading time, the market time has reached 9:20.

After the 9:19 period, a large number of false pending orders were cancelled.

At this moment, the market patterns of the two cities were shown. Compared with the initial moment of the call auction at 9:15, not only did it not improve, but it became even weaker.

There are nearly 2,000 stocks in the market, and the number of red stocks at this moment is less than 800.

And the orders to be matched on the stock market, compared with the time at 9:19, basically showed an increasing trend, without obvious attenuation.

This shows that at 9:19.

In the entire market, not many orders, especially concentrated sell orders, were withdrawn.

This also shows that under the influence of the failure of the check reorganization of "Chengfei Integration" and the initial call auction, the market investment sentiment and investment confidence, which should have been positive, have been greatly affected, and under this influence, the active selling orders have increased significantly, while the active buying orders have weakened significantly.

Therefore, the market call auction trend has formed, which looks like it is going down step by step.

"Boss, the overall impact of the check from 'Chengfei Integration' on the market is a bit beyond everyone's expectations before the market opened!" At 9:21, in the main fund trading room of Zexi Investment Company in Shanghai, Zhou Kan was a little surprised to see that the market trend of the two markets did not improve at all after entering the real call auction. He looked at Xu Xiang who was sitting next to him and said, "It feels like the emotional reaction of the entire market is cooling down due to the impact of this check!"

"It is indeed cooling down." Xu Xiang squinted his eyes and looked at the changes in the market trend of many core stocks in the market, and nodded slightly, "It seems that the market is likely to adjust today."

"Yeah, I think so too." Zhou Kan responded, "I just don't know how to adjust What will be the extent of the adjustment? "

Xu Xiang pondered for a moment and said: "The previous continuous high-profile attacks have accumulated a lot of short-term profit-taking orders. In addition, the 3000-3500 point range of the Shanghai Composite Index is obviously the area where the historical locked-in orders are most concentrated, and in the recent market trend, the accumulated unblocked orders are also quite strong.

These profit-taking orders and unblocked orders, and the confidence in holding shares, are not firm in the early stage of the bull market.

If, at this time, the mood suddenly weakens.

Their selling power should emerge relatively concentratedly.

Although the current market turnover has soared to the 700 billion volume range, and there are many funds that have missed the opportunity, there are also many main capital groups that want to take over the chips at a low level, but in the face of accumulation For two consecutive weeks, there has been a concentrated selling pressure of at least 10% of the short-term profit margin. It should be difficult to bear it for a while. "

"Boss means... drastic adjustments may be inevitable?" Zhou Kan understood the meaning of Xu Xiang's words and responded, "But it should not hurt the fundamental logic and expectations of the market bull market, right?"

Xu Xiang smiled slightly and said, "Of course not. In fact, it is also good to kill the market drastically here and clean up the chips that are not firmly held. Otherwise, if you force the upward attack, even if you cross the 3,300 point level and hit a higher short-term market height space, so many floating chips of profit-taking and the accumulated chips of unwinding will sooner or later be due to other negative factors. Rapid adjustment.

It's really here At that time, perhaps, the space and time for adjustment will be more intense.

In other words, the negative impact brought by the failure of the check reorganization of "Chengfei Integration" is actually irrelevant. What is important is that the market's bullish sentiment at this time has nowhere to go, and it needs a temporary outlet.

Moreover, the development of any market situation cannot be a straight line, diagonally upward.

It should always develop in a zigzag manner.

A bull market is not necessarily a good way to make money. Instead, it is a time to test investors' determination to hold shares and their belief in the bull market. "

Zhou Kan listened to Xu Xiang's analysis, pondered for a moment, smiled, and said: "Since the boss said so, I have nothing to worry about."

Xu Xiang nodded, and also put his eyes back on the two markets.

During the brief exchange between the two, the market time at this moment has come to 9:25, and the call auction of the two markets has ended.

According to the two markets that have been fixed.

The Shanghai Composite Index opened lower at 0.47%, finally ending the continuous high opening trend that lasted for more than a week.

Shenzhen Index and ChiNext Index opened lower by 0.42% and 0.39% respectively. Although they were slightly stronger than the Shanghai Index, they were not much stronger. Several major indexes showed a general decline.

In addition to the indexes, the performance of the major hot main lines of the two cities, as well as the core industry sectors and concept sectors.

In the main line of "big finance", the securities sector, Internet finance sector, banking sector, and insurance sector, several major weighted sectors, still performed quite strongly, and achieved a small red plate high opening attitude, but the high opening range of several major industry sectors did not exceed 0.5%. Compared with the high opening trend of the previous few days, it was obviously weakened.

Especially in recent times, the room for growth is the largest.

Relatively speaking, the circulating market is also relatively large, and there are more accumulated profit-taking and unwinding plates in the securities sector.

Today, during the entire call auction process, there was an obvious trend of increasing volume, such as "Huaxin Securities, Huatong Securities, Huashang Securities, Western Securities, Oriental Securities, Founder Securities, Pacific Securities..." and other constituent stocks, the call auction transaction volume, all hit a new high during this period.

In addition to the main line of "big finance",

Other core themes, such as "technological growth", "infrastructure", "military industry", "consumption" and other fields, basically all opened low.

Especially the two main themes of "infrastructure" and "military industry".

Affected by the failure of the reorganization of the check of ‘Chengfei Integration’ and the impact of the limit-down at the opening, it can be said that it opened sharply lower and led the decline in the two markets.

Among them, stocks closely related to the two core themes of ‘reform and reorganization of central enterprises and state-owned enterprises’ and ‘securitization of military assets’, as well as a number of component stocks that followed these two concepts and were severely hyped up in the early stage, are now sharply sold off, and the selling pressure on the market is quite heavy.

Stocks such as China Metallurgical, China Communications Construction, China Railway Construction, China Airlines Heavy Machinery, China Airlines Shenyang Aircraft, Aviation Power, Aviation Development... and a series of stocks with ‘reorganization expectations’ and ‘asset injection’ expectations, basically opened lower by more than 2%.

Faced with such a situation of opening the two markets that was seriously below expectations.

Inside and outside the market, the vast investor group, despite the overall emotional performance, is still relatively positive and optimistic.

However, many investors who have obviously made profits or just got out of the market and have high holding costs are obviously worried at this time. They have a little more worries about the market, and their confidence in holding positions is no longer as strong as yesterday. They are obviously a little worried and anxious.

And under this emotional interpretation...

When the short 5-minute suspension time between 9:25 and 9:30 passed, the market ushered in the formal continuous bidding trading period.

I saw that the two markets just started to jump.

The Shanghai Index, Shenzhen Index, and ChiNext Index fell rapidly with volume.

At the same time, the "National Defense Military Industry" industry sector, from the 0.89% drop at the end of the call auction, jumped to the 1.53% drop in one minute. Its related core component stocks, especially the previous leading concept stocks "Lanshi Heavy Equipment, Aerospace Development, Hongdu Aviation, and China Airlines Heavy Machinery", fell rapidly and fell through the 5% drop mark in an instant.

Then, at 9:31.

The two major concept sector indexes of "reform and reorganization of central enterprises and state-owned enterprises" and "securitization of military assets" also fell sharply, with a drop of more than 3%, and the core leading stocks and weighted component stocks in the two major concept sectors all fell sharply.

At 9:32, the major industry sectors of building decoration, building materials, and real estate development also fell sharply.

At 9:33, the entire "infrastructure" and "military industry" main line fields, as well as the industry sectors and concept sectors that were hyped around the major concept themes of "Eurasian Economic Belt", "New Era Road, Maritime Silk Road", and "reform and reorganization of central enterprises and state-owned enterprises" were also affected across the board and fell one after another.

At 9:34, the sell-off effect caused by the main line of the concept of "reform and reorganization of central enterprises and state-owned enterprises" quickly spread to the entire market.

At 9:35, the concentrated selling effect spread to the most core "big finance" main line field. The securities sector, Internet finance sector, banking sector, and insurance sector, several major weighted sectors, all gave up all the gains from the high opening and fell into a state of decline.

At the moment when the market sell-offs broke out, the core indexes of the two cities also took a sharp turn downward.

In just five minutes, the Shanghai Composite Index dropped from 0.47% at the opening to 1.13%, and it is still expanding.

The declines of the Shenzhen Composite Index and the ChiNext Index also expanded along with the Shanghai Composite Index.

In the five minutes of development, the entire market has entered a trend of comprehensive decline, no longer as strong as everyone expected.

"Fuck, this sell-off is too fierce, isn't it?"

Seeing the Shanghai Composite Index's decline expand to more than 1% in an instant, at 9:36, in the main fund trading room of Yuhang Yuhang Investment Company, Wang Can, the trading team leader who had been observing the changes in the market, was slightly shocked and couldn't help but exclaimed: "Moreover, it is still an obvious sell-off. Today's market opening trend... is really beyond everyone's expectations. It seems that there is not much bad news on the news? Can the failure of the reorganization of the "Chengfei Integration" check have such a big impact?" (End of this chapter)