More than 400 floors—whose fault is it?

The index is already too hard to look at today, but if you exclude the impact of banks and insurance, today’s decline is probably so terrifying it would scare people to death. Today there was supposed to be a pull-up in securities stocks, and there was some value in that—meaning the securities sector’s performance is bright enough across the entire market. Only then would such a rally be meaningful. But the market’s main force smashed even the securities firms, and then pulled up banks to provide cover—that’s a bit off.

Right now, it’s all for the safety of Changxin’s listing; everyone already knows that. But with such ruthless, hard-hearted behavior, they didn’t expect this. [TaoqiuBar]

Today’s pharmaceutical stocks are moving broadly higher. This upside here isn’t the main theme strengthening—instead, it’s because funds are fleeing from tech, causing a defensive rotation. In a way, it’s the rarest touch of green today. Tech today is so惨烈 it feels like the market hasn’t killed enough. But during the sell-off, there’s no volume expansion—meaning the mass-cut-loss selling hasn’t shown up. That’s a problem for the future. When prices rise from the bottom, you need those cut-loss orders; during a rapid sell-off, you also need mass-cut-loss selling. If there’s never any cut-loss volume, then things here are still very scary.

Today, it’s almost like there are no hot themes at all. Even if there are a few that feel like they might exist, they’re directions you can’t even look at anymore. At this point, talking about “hot themes” is meaningless.

Today’s market action is indeed ugly. But considering that we’ve already seen a sharp sell-off, the repair tomorrow is worth expecting. Even so, repair still requires a large amount of volume to appear. If there isn’t a lot of volume, then the repair is still ineffective. That also means the current index levels have absolutely no value right now—only when trading volume expands will there be value.

On Friday, volume expanded on the decline; what’s needed next is a volume-expanded rally. If a volume-expanded rally doesn’t happen, then volume-expanded selling can also be okay—if neither happens, then this kind of low-volume sell-off is really hard to look at, and there’s also no absolute low point. That’s what makes it especially ugly.

If you say there’s a highlight in today’s market, then it’s that these $中际旭创(sz300308)$ $寒武纪(sh688256)$ $沐曦股份(sh688802)$ $中芯国际(sh688981)$ have a bit of brightness. This also means the most core targets are still barely being supported—there’s still capital taking care of the market’s most core targets. This is the last hope for the bulls, and it’s also the hope for what direction this market can still be traded in.

For everything else, the remaining stocks that aren’t the most core targets here almost have no value at all. If the bulls’ last hope completely dies out, then basically the whole market can bid farewell. If it hasn’t died out completely, then look next to see whether the most core direction here has the possibility of taking the lead and pushing upward.

Of course, holding on to these most core high-quality names isn’t for anyone’s sake. It’s just that the market can’t be allowed to completely collapse. Leaving them with a breath of life is so there will still be人氣 when Changxin lists. That’s the fundamental reason.

Earlier, the most representative $东山精密(sz002384)$ was basically the vanguard that led the charge in tech. Today it launched three times, but it didn’t drive the market’s tech surge upward. That means tech stocks have already lost a sufficiently strong “leadership” stock. Stocks that can lead the market have always been large-cap stocks with absolute人氣 and a complete industrial chain, with seemingly unlimited expandability—those kinds of stocks create this effect. Dongshan Precision clearly had the possibility of that kind of status, but in the end it still fell down—so the market looks even worse.

Today, Dongshan Precision already formed a cross star. This is the cross star coming after last week’s big bearish candle. There are signs of stopping the decline here, because there is proactive capital pulling it up—meaning that no matter what happens tomorrow, Dongshan Precision will most likely still lead the charge. As for results, only heaven knows. But if it isn’t the one, then the leading effect from other capital may not be as good.

Today, most of the best high-quality core stocks are actually up, but they lack leadership. That means they’re not the “dragon” in the market.

That’s enough for today. Quickly hit like, comment, and give awards to Cui Bo. Thanks to @天空飞的地板@馨月乾坤@守拙致远@股木天@阿凡提嘚吧嘚@排队来一手@爱情就是这样 for the award, thank you

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