[Red Envelope] Review of July 8, 2026: Freezing point continues, only a wisp of 'supernode' light remains.

As dusk falls, Shantang Street lights up, the river surface shimmering like gold—like that faint glimmer on today's board, you know it's there but it vanishes in a blink. [淘股吧]

The market offered no surprises today. The Shanghai Composite Index closed down 0.49% at 3970 points; the Shenzhen Component Index fell 1.87% to 14,939 points; the ChiNext Index dropped 1.70% to 3845 points. All three major indices closed in the red, with stocks broadly declining—only 1,593 rose, while as many as 3,790 fell, and 40 hit the down limit. This down-limit count is critical, indicating that high-level corrections are not over, distribution is incomplete, and the last batch of longs from the old cycle is still being flushed out. Total turnover on the two exchanges was 2.5826 trillion yuan, slightly down 15.9 billion from yesterday, marking three consecutive days of stepwise shrinkage. The 46 stocks hitting the up limit look okay on the surface, but look at the structure—38 first-boards, only 8 consecutive boards, scattered across different sectors with no synergy, no tiering, no main line. The environmental cycle and sentiment cycle table still marks "Ice Point Period," with a recommended position of 0%—consistent with my judgment: the ice point period continues.

Today I was almost entirely in cash. I cleared all previous positions, focusing on just one stock—Star-Net Communications (星网锐捷).
My reason for buying it is simple and specific: the market lacks new narratives, and it is telling one—the concept of Super Node (Super Node computing architecture). Star-Net is one of the cooperative developers of Huawei's Super Node solution, involving data center interconnection, leaf-spine network restructuring, and intelligent computing cluster networking, acting as a "pick-and-shovel" seller in physical AI infrastructure. As intelligent computing centers evolve toward ten-thousand-card clusters, traditional leaf-spine networks become bandwidth bottlenecks. The Super Node architecture (high-speed direct connections between nodes, optical interconnection, new fat-tree topologies) is a real industry problem, not a pure concept. In early trading, Star-Net was stimulated by mid-report growth expectations and the Super Node concept, with main force capital stepping in. I opportunistically entered a small position, keeping total positions extremely low—During the ice point period, no matter how good a stock looks, you can't go heavy—this is the bottom line.

Complete breakdown of consecutive-board structure (July 8)
Today, 46 stocks hit the up limit: 38 first-boards, 8 consecutive boards. Detailed analysis of each tier:
【Top leader · 7-1】Hengshang Energy-Saving (恒尚节能)
Plans to acquire a memory chip company + core building curtain wall business. Cross-sector transformation expectations triggered capital rush, opening high and quickly sealing without breaking, viewed by the market as a sentiment anchor in the ice point period.
【3-board · 3-1】Daheng Technology (大恒科技)
Machine vision + Huawei + military electronics multi-concept overlay, stimulated by AI application rumors, roving capital leading a low-level rebound—no sector coordination.
【2-board · 2-6】Mvision Technology (魅视科技)
Distributed audio-visual + display control system + AI, driven by expectations of smart meeting scenario recovery—low-level, volume-shrinking second board with no sector follow-through.
【2-board · 2-6】Weilgao (威尔高)
Printed circuit board (PCB) + optical module support, benefiting from AI server and optical communication demand expectations—oversold rebound nature, weak sector effect.
【2-board · 2-6】Daming City (大名城)
Real estate development + urban renewal + industrial real estate, betting on expectations of relaxed property policies—a news-driven oversold rebound with no continuation signal.
【2-board · 2-6】Shiyun Circuit / Shiyuan Co (世运电路/世源股份)
Automotive PCB + Tesla supply chain + high-level HDI, benefiting from new energy vehicle electronics expectations—low-level volume-increased second board, needs to watch if the sector returns.
【2-board · 2-6】Tianhai Electronics (天海电子)
Automotive wiring harness + connectors + new energy vehicle OEM support, low-level catch-up logic, driven by partial activity in the new energy vehicle chain—no sector synergy.
【2-board · 2-6】Jinshi Technology (金石科技)
Optical fiber + 5G + special optoelectronic materials, stimulated by computing center optical interconnection demand expectations—low-level second board, requires new theme boost for sustainability.

Looking at the consecutive boards together, the conclusion is the same as yesterday—no sector synergy, no new main line, height maintained by a lone seedling. Hengshang Energy-Saving is the sentiment anchor (strongest early, no break, cross-sector transformation expectations), while the other second-boards are scattered across machine vision, PCB, real estate, cables, optical fiber and other niches—no mutual linkage. A real recovery would require a direction (Super Node / new theme) to produce at least 3 stocks in the same sector hitting the up limit with a second-board following. That hasn't happened yet.
Special note: "Two consecutive-board stocks fell to limit down"—one 3-consecutive board: Baiyun Electric (白云电器); one 2-consecutive board: Yahua Group (雅化集团)—indicating that consecutive-board heights are unsustainable and face nuclear button risk. The second-board advancement rate in the ice point period is extremely low—do not blindly hold.

Why was I almost entirely in cash today, only holding Star-Net?
Three reasons:
First, 40 stocks hit down limit, high-level corrections not over. The aftershocks of extreme moves like Jihechang (吉和昌) are still present, with names on the consecutive-board down-limit list, indicating distribution is not complete. Only when the down-limit count drops below 20 and stays there for two consecutive days does the margin of safety appear.
Second, three-day consecutive volume shrinkage, funds on the sidelines. 2.5826 trillion yuan, cumulative shrinkage of over 550 billion yuan in three days—a "nobody buying" structure. Without volume, there is no market; without a market, any heavy position is gambling. Even for Star-Net, I only gave it an observation position—never full or half position.
Third, the only new concept worth light tracking. Super Node is the only somewhat fresh narrative on today's board—as intelligent computing centers evolve toward ten-thousand-card clusters, traditional networks become bottlenecks, and the Super Node architecture is a real industry problem. Star-Net, as Huawei's Super Node cooperative developer + mid-report growth expectations, has logical support—it's not a pure sentiment stock. I keep it not to earn 3–5 points today, but to watch this new spark. If the sector doesn't ignite tomorrow or it weakens on its own, I'll exit directly. If right, keep the feel and track a new direction; if wrong, the loss is controllable—that's the proper attitude for testing in the ice point period.

Key points for tomorrow's observation

1. Whether the Super Node concept can ferment—watch for follow-on first-boards or second-boards tomorrow in data centers, optical interconnection, liquid cooling directions. If so, Star-Net may become the precursor of a new cycle; if not, a lone army will die, exit per plan.
2. Whether the down-limit count can fall to within 10—currently 40, too high, not safe zone. Be especially wary if high-level old dragons like Yibin Paper (宜宾纸业) continue to correct.
3. Consecutive-board tiers—whether Hengshang Energy-Saving can open up recognition further, and whether any of the 2-6 tier stocks (Mvision/Weilgao/Daming/Shiyuan/Tianhai/Jinshi) show same-attribute follow-through (currently none at all).
4. Volume—needs to re-expand in coordination with stabilization for a right-side signal.
   Only if at least 2 of these 4 conditions appear, consider moderately increasing positions; before that, Star-Net is the only remaining observation target, everything else in cash.

In an ink-wash Jiangnan painting, the hardest part is the blank space. Trading is the same—during the ice point period, most of the time should be in cash; that blank space is the real confidence. Today I keep one Star-Net stock, not to earn, but to watch the new spark of Super Node. If it spreads like wildfire, we'll come back; if it goes out, I withdraw at any time.
With volume shrinking, 40 down-limit stocks, no sector synergy—on days like this, restraint is more valuable than bravery. Wait for the wind, don't chase.
A few days ago, because my position was light, I made the mistake of not cutting decisively. Today I corrected everything. Since back in June, stocks I didn't hold all flew, and those I held made money, I also thought about trying to hold. After a few days of observation, there was no sustained rally, so I cleared everything. Fortunately the position was light, total portfolio only slightly damaged—This is the benefit of timing that I always emphasize. Timing must be coordinated with position sizing to truly count as timing! Remember!

Qianyu System's 6-word mantra: Timing > Trend > Stock selection!
Timing: Choose sentiment cycles! Trend: Choose profit-making effects! Stock selection: Choose the strongest stock!
Dragon leader players grasp mainline trends, market synergy stocks;
Use position management + sentiment nodes + decisive execution to achieve stable profits! Continuous compounding!
When chaos dazzles the eyes, while they are dazzled, I make money!
Adapt to changes, follow changes, respond at any time!

Regarding basic knowledge system learning, I've written about it in previous posts, and I'll continue updating when I'm free. What else would you like me to write about? Feel free to comment.
Please click the links below to watch:
How to Identify a Leader and Profit from It
（https://www.tgb.cn/a/2lVJesXRnSx ）
How to Understand Call Auction
（https://www.tgb.cn/a/2mdRPFSXzpq ）
How to Quickly Read a Time & Sales Chart (Trend Stocks)
（https://www.tgb.cn/a/2lS3ikQAB8r ）
Suitable Trend Strategy Sharing for Office Workers
（https://www.tgb.cn/a/2lP5bzsGE1f ）
How to View the Problem of Selling Too Early
（https://www.tgb.cn/a/2mwJPk1eIFs ）

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This article is only personal review notes and does not constitute any investment advice. The market involves risk; invest with caution.