Effect, as long as there is confidence and money-making effect, the market will naturally follow. This is...a moment when confidence is more valuable than gold!"

"As for market sentiment picking up quickly..."

Zhang Guangnian smiled and continued: "Old Liao, don't forget, the domestic financial trading market is a trading market dominated by retail investors. As long as there is a sustained money-making effect, the demonstration effect of this market will naturally be great.

, then the emotional fluctuations will naturally be much more severe than those in other mature markets."

"Yes!" Liao Guanghua pondered for a moment, nodded, and said, "Compared with controlling the emotional context of the market and even exploring the main themes, hot money and many powerful private equity fund managers are far more powerful than those within our system.

Many institutions are much more sensitive."

"For example, just like the 'infrastructure' and 'state-owned enterprise reform' main threads broke out in the past two days."

"Before, everyone was not aware that there were opportunities for investment and even concept hype in these two areas, but no one dared to touch these two lines."

"At this moment, everyone came to their senses and realized that there were no cheap chips left."

“I have to say that Mr. Su from ‘Yuhang Investment’ is really a master at digging into the market’s main trends and even stimulating market sentiment.”

“And its operating styles are diverse and not stuck in the quagmire at all.”

"I used to think that Mr. Su's successful operation, and even the biggest source of profit earned after entering the market, basically all came from the hype of small and medium-sized board, GEM concept stocks, from the market's 'growth stock' path

outbreak, and the 'growth investment logic' is recognized by many investment institutions, so... the perception of the so-called 'value investment' in the blue-chip direction of the main board will not be so keen."

"I didn't expect that this person... was completely unfettered by 'path dependence' in investment thinking."

"In an instant, I boldly switched my style to blue-chip motherboards."

"Mr. Su of 'Yuhang Investment' is indeed an anomaly." In response to Liao Guanghua's emotion, Zhang Guangnian responded, "But there is only one person in the whole market. Lao Liao, you said, 'Compared with the market's

The control of emotional context, and even the exploration of main themes, hot money and many powerful private equity fund managers are far more sensitive than many institutions within our system. This statement is still biased, and it somewhat boosts the ambitions of others and destroys one's own prestige.

!”

"It's not impressive." Liao Guanghua smiled, "The market's unilateral downward trend from the end of last year to the first quarter of this year, although there are macro reasons, is not the same as the major institutions in our system.

In order to protect the net value of fund products from a serious retracement, they trample on each other, which is actually inseparable."

"Well!" Zhang Guangnian nodded slightly and said, "It has something to do with this..., but it is also something beyond reproach. Public funds do not have a completely closed period. The majority of fund investors continue to lose money as their net worth drops.

To redeem product shares, fund managers can’t do it even if they don’t sell them.”

"Fortunately, the darkest time is over."

Zhang Guangnian paused and continued: "As long as the market can maintain this trend and emotional momentum, the decline in the market's fund scale will definitely be reversed, and when the entire industry's asset management scale returns to the rapid growth path,

The incremental funds invested in the stock market will continue to flow, and the market will naturally continue to flow."

"So, you are quite optimistic about the market outlook, right?" Liao Guanghua asked with a smile.

Zhang Guangnian replied: "The market is around 2100 points, so I have to be optimistic. Moreover, after the index quickly pierced 2000 points twice, it rebounded quickly. This proves that the Shanghai Index near 2000 points is the extreme bottom area of ​​the market. In the market

The valuation elasticity has been compressed to the limit, and there is indeed no room for it to fall further."

"Mainly speaking, the economic growth rate on the macro level is still rising."

"Looking at the relevant economic data in the first quarter, we can clearly feel that domestic inflation has returned to the normal range, which gives the central bank a more generous scope for implementing monetary policy."

"The macro economy continues to grow, inflation is falling, and monetary policy is expected to be loose..."

"On the one hand, these will lead to the general continued upward growth in the performance of various companies. On the other hand, they will lead to further increases in funds flowing into the stock market in anticipation of possible loosening of monetary policy."

"The general growth in the performance of listed companies, even if the valuation remains unchanged, will in disguise raise the market index. Coupled with the further inflow of over-the-counter funds, it will be difficult for the market to remember the market, so...what else?

The truth is that at this range, should we continue to be bearish?”

"It's just that although I judge that the market is at this position, it is unlikely to fall."

“But I didn’t expect that the main line of gains would be the ‘infrastructure’ sector.”

"Haha, heroes have similar opinions!" Liao Guanghua laughed after listening to Zhang Guangnian's analysis, "It seems that we should make a slight adjustment in our trading strategy, transitioning from the conservative stage to the aggressive stage."

"The aggressive stage?" Zhang Guangnian heard Liao Guanghua's thoughts, pondered for a moment, and said, "Currently there are only opportunities on the left, and the opportunities on the right are not yet clear. I think it is okay to increase positions appropriately, but there is no need to directly transition to the 'aggressive stage'

'Is it so fast? After all, from the technical perspective and the chip structure analysis, the index is under huge pressure near 2200 points, and the hold-up position at 2200 points is also quite heavy. The market volume cannot reach 100 billion.

, I’m afraid it will be extremely difficult to cross over safely.”

Liao Guanghua responded: "When the opportunity comes to the right, I am afraid that many high-quality chips in the core main line are already high. Although the index has huge pressure at 2200 points, as the core main line leading the market, 'Infrastructure

', but in the field of 'state-owned enterprise reform', space has obviously been opened up, and the trend of the market index is half way ahead of the trend. It is estimated that with the funds and emotions following the trend have been fully mobilized, the probability of falling back is low. "

"Okay!" Zhang Guangnian thought for a while and nodded, "You are the director of the self-operated investment department. Naturally, you have the final say. I am just expressing my own market views."

Liao Guanghua nodded and continued to ask: "Lao Zhang, in addition to the two main lines of 'infrastructure' and 'state-owned enterprise reform' that are currently breaking out, what other fields do you think have obvious differences in future expectations?

Possible room for double improvement in performance and valuation?”

"According to industry research..." Zhang Guangnian said, "It is still the small and medium-sized board. The GEM's 'many emerging industries, small-cap core growth stocks' have a faster performance growth rate, and they also have enough room for industry imagination. That is the current market situation."

I’m not convinced about this area. Many funds have tried and tried, but they can’t speculate. However, I carefully thought about this field for a while, and found that what restricted its speculation space was that it was over-speculated last year and had too many expectations.

There is too much space, and there are too many locked plates at the same time, which requires more time to digest.”

Liao Guanghua said: "What you mean is that the main line of the subsequent market may also return to the logic line of 'growth stocks' led by the small and medium-sized boards and the GEM?"

"It should be so!" Zhang Guangnian said, "After all, no matter what kind of investment method it is, the final goal is expected and performance growth."

"Okay, I understand!" Liao Guanghua nodded.

Then, after thinking for a moment, he walked to the office area of ​​the proprietary investment department, preparing to convene a meeting with department heads and product managers to discuss trading strategies.

And with the internal trading strategy discussion meeting of Huashang Securities.

Market time began to pass at 5:30 pm, and the new dragon and tiger list was announced.

I saw a total of 23 stocks on the list today. Among them, China Railway, Kumho Group, and Beixin Road and Bridge continue to be on the list, while Huaguo MCC, Shibei High-tech, Waigaoqiao, Shanghai Sanmao, and Shanghai Steel Union
Chapter completed!