Rebirth of the Capital Legend

"Sigh, it's really hopeless. Last night, the overseas markets hit a record high and surged without regard for anything else. I didn't expect it to have any impact on the A-shares. It's really something that can only follow the decline, not the rise. My pre-market expectations were so high."

Faced with the market's significantly weaker-than-expected opening performance, a large number of retail investors gathered on various online stock investment exchange platforms are predicting a sharp drop and can't help but complain.

"This has always been a tradition. I guessed it long ago and knew I shouldn't have too high expectations. Sure enough, it has."

"Judging from the opening auction of the two markets, apart from the 'major infrastructure' sector which met everyone's pre-market expectations, the other main sectors were completely below expectations. The Shanghai Composite Index didn't even open 0.5% higher, which is simply outrageous!"

"The 'major infrastructure' initiative can only be described as meeting expectations; it did not demonstrate strong initiative."

"Even so, while other major themes in the market have generally fallen short of expectations, the 'major infrastructure' theme has actually performed quite well."

What do you all think of Huaxin Cement's check?

"As the key stock in the 'major infrastructure' theme and the main focus of current market bullish sentiment, its opening at the daily limit is in line with expectations. However, the number of buy orders at the limit is somewhat poor. It feels like this stock will need to undergo a round of fluctuations after the market opens before its strength or weakness can be truly determined. If this stock can quickly be locked by large buy orders after opening and does not experience any further limit-up failures during the day, then both this stock and the entire 'major infrastructure' theme can be viewed with continued optimism. If, after the stock officially opens, its trend is similar to that of 'Huawen Online' yesterday, then I think we don't need to pay too much attention to the subsequent trend of this stock or the 'major infrastructure' theme."

"Is it highly unlikely that 'Huaxin Cement' will follow the trajectory of 'Huawen Online' yesterday?"

"It's completely impossible. The two are completely different in terms of their emotional focus and their overall scope, and they cannot be compared in this way at all."

"The direction of 'Huaxin Cement' will likely depend on whether its core follower stocks, such as 'Tianshan Cement,' 'Beijiang Jiaojian,' 'Shougang Group,' and 'Financial Street,' can hold up at the open. If these follower stocks can hold up and maintain strong fluctuations after the market opens, even if they don't push the price up to the daily limit, as long as they can maintain their current opening gains without a rapid sell-off, then 'Huaxin Cement' will most likely quickly and completely hit the daily limit and continue to lead the 'major infrastructure' sector."

"Tianshan Cement, Beijiang Jiaojian, Shougang Group, Financial Street... these stocks performed relatively well during the pre-market auction, but didn't they open a bit too high? I feel they over-extracted expectations for today's intraday performance. In reality, with such a large gap up, it's difficult for subsequent funds to follow up, especially since these aren't core leading stocks and have relatively low market attention. The fact that they opened so high clearly suggests that pre-positioned funds are guiding the price up."

"Is this opening too high? If the market sentiment had been better before, these stocks would most likely have opened at the daily limit."

"Is it unlikely that a stock that follows a trend will open at its daily limit?"

"They complement each other. The trend of 'Huaxin Cement' will definitely affect the trend of follower stocks such as 'Shougang Group', 'Tianshan Cement', and 'Beijiang Jiaojian'. At the same time, as long as these follower stocks do not falter and can maintain the expected strong oscillating trend, or can continue to rise rapidly to expand their space, it will definitely be beneficial to 'Huaxin Cement'."

"I don't think there's a big problem. Among today's opening auction trends, the 'major infrastructure' sector was the strongest."

"What's there to be afraid of regarding the 'major infrastructure' sector? Previously, most of the short-term active funds in the market were drawn to the 'emerging industrial chains' sector, and the 'major infrastructure' sector didn't collapse, remaining stable in a high-level consolidation. Now, a large number of short-term active funds in the market have concentrated on the 'major infrastructure' sector, making a collapse even less likely. I think what we should be worried about is the 'emerging industrial chains' sector. If it weren't for the 'emerging industrial chains' sector dragging down the overall market sentiment today, causing low overall bullish sentiment, I feel that the major market indices, as well as a number of popular stocks and themes, wouldn't have opened at this level."

"Indeed, the 'emerging industrial chain' line is clearly lagging behind today."

"The sharp drop in the 'emerging industrial chain' sector today was probably expected, right? I think it's in line with everyone's expectations."

"Although everyone knew that the 'emerging industrial chain' sector would likely open significantly lower today after yesterday's sharp sell-off at the end of the trading day, the extent of the drop was still a bit too much. Sectors such as 'film and television media,' 'internet software,' and 'internet applications' experienced a complete collapse. In particular, the stocks 'Huawen Media' and 'Yue Media' opened at the daily limit down, which is really damaging to investor sentiment."

"There's nothing we can do. Yesterday, the 'emerging industrial chain' sector trapped too many active short-term investors."

"Compared to Huawen Media and Guangdong Media, this stock, 'Huawen Online,' isn't much better. I feel that once the market officially opens, it will most likely hit the daily limit down immediately."

"I'm thinking, if 'Huawen Online' stock hits its daily limit down after the market officially opens, will it have a significant impact on the overall bullish sentiment in the market? After all, this stock was a core leading stock that many funds had been chasing, and it was the main focus of the market's bullish sentiment. Now that this stock has collapsed, and after yesterday's sharp decline, it continues to hit its daily limit down, the impact will be terrible. It will definitely dampen the market's enthusiasm for buying, as well as everyone's expectations for the high upside potential of the core leading stocks, right?"

"There will definitely be some impact, but everyone has already anticipated this, so there's no need to worry too much. I think if the two stock markets, especially the core leading stocks in the 'major infrastructure' sector, are significantly affected when 'Huawen Online' hits its daily limit down and show a clear downward trend, it would actually be a good opportunity to increase positions today. At least... for 'Huaxin Cement,' hitting its second daily limit up today shouldn't be too difficult, right?"

"Yes, I also think that if the core leading stocks in the 'major infrastructure' sector experience a pullback during the trading day, it will be a good opportunity to increase holdings."

"Not necessarily. I think the 'major infrastructure' theme was over-anticipated at the opening, especially the absolute core leader of the 'major infrastructure' theme, 'Oriental Yuhong,' whose opening auction performance was significantly lower than expected, which gave me a very bad feeling."

"Sigh, the opening auction performance of 'Oriental Yuhong' was indeed somewhat below expectations. However, its closing performance yesterday lacked initiative. It only rose rapidly after a group of stocks, such as 'Huaxin Cement,' 'Shougang Group,' 'Beijiang Jiaojian,' and 'Tianshan Cement,' hit their daily limit. Moreover, it failed to reach its daily limit by the close. Therefore, it's understandable that its opening auction performance wasn't strong today."

"The main issue is that the trend of this stock can easily affect the overall sentiment of the entire 'major infrastructure' theme."

"That's right. As long as 'Fuxing Road' is still listed on this stock, the market attention to this stock will not be low. People still have expectations for this stock. So this stock can rise a little, but it must not deviate from the overall trend of 'major infrastructure' and adjust downwards."

"A downward adjustment is unlikely, right? There were so many profit-taking positions in the 'Oriental Yuhong' stock before, and they still couldn't drive the stock price down. Now it's even less likely."

"I feel that the stock 'Oriental Yuhong' will most likely continue to trade sideways."

"Actually, the reason why the stock 'Oriental Yuhong' has risen too fast is that, based on the underlying logic, it seems that there is still potential for this stock."

"There are expectations, but other stocks currently offer better value." "Haha, that's true. Compared to 'Oriental Yuhong,' 'Huaxin Cement' is definitely more cost-effective. Moreover, in the current 'major infrastructure' sector, the 'cement' sector is indeed the strongest performing, attracting the most concentrated buying power."

"The 'baijiu' sector actually performed reasonably well in today's opening auction."

"It's alright, but the 'liquor' sector isn't a market hotspot right now, is it? Moreover, this sector has always been the core area where major institutions cluster together, so it doesn't seem suitable for short-term speculation. I think if you want to embrace volatility, you don't need to look at this sector."

"Agreed. There's absolutely no need to pay attention to the liquor sector."

"What about the two major sub-sectors of the 'emerging industrial chain': the 'smartphone industry chain' and the 'new energy industry chain'? It seems that the trends of these two sub-sectors are starting to diverge from those of other sub-sectors such as 'film and television media,' 'internet software,' 'internet applications,' and 'electronic information.' I'm wondering... if the 'major infrastructure' sector performs significantly worse than expected during trading, will the market continue to speculate on these two sub-sectors under the 'high-low switching' strategy? After all, among the major core themes, these two sub-sectors are actually at a relatively low level, and they haven't yet formed a sustained rebound trend."

"Well, I have to say, these two lines should have a certain chance."

"The price is indeed low enough, but it feels like expectations are not met. There's no positive news either. We can't just let the funds drive the price up, can we?"

"Isn't it just pure speculation? What new expectations or logic were there for the stocks in the film and television media, internet software, and internet applications sectors before? Didn't they still get hyped up by funds?"

"The high-level policy document on 'vigorously developing online education' isn't exactly a positive development, is it? The grand theme of cultural revival isn't exactly a positive development, is it? And this year's box office should be about to bottom out and rebound, aren't these expected? Moreover... if we're comparing which sector is at a lower level, to be honest, since the last bull market crash, the 'film and television media,' 'internet software,' and 'internet applications' sectors are indeed still the sectors that have fallen the most."

"The positive factors you mentioned have existed before; they're not new."

"If that's the case, then there's nothing particularly new or positive news regarding the 'major infrastructure' sector, so why is the market performing so strongly despite the sell-off?"

"That's still quite different, isn't it? The 'major infrastructure' sector follows housing prices. Has the upward trend in housing prices in major cities stopped? It doesn't seem like it has at all, does it?"

"That's true, housing prices are rising ridiculously high these days."

"I heard that housing prices in Shanghai have generally reached 7 yuan per square meter. Wow... this is a crazy price increase!"

"Does the housing market feel a bit like the stock market when it was at 5000 points?"

"Not quite. The potential demand for housing is still very strong. People are basically scrambling to buy houses everywhere. It feels like this trend will continue until at least next year."

"Even if housing prices have peaked, they will likely remain flat for a long time, so there's no need to worry. However, stock prices usually peak before the fundamentals. In the 'major infrastructure' sector, the core leading stocks and a number of popular stocks have generally doubled in value. It's hard to say whether there has been an over-extension of expectations for the fundamentals, and how much room there is for further upward movement."

"Just look at the performance of Hong Kong-listed mainland property stocks to see if that's enough."

"Yes, this round of the 'major infrastructure' theme was actually driven by Hong Kong stocks. The performance of a number of mainland property stocks in the Hong Kong stock market can indeed serve as a reference to some extent."

"Looking at the performance of mainland property stocks in the Hong Kong stock market, it seems like they've only just begun to gain momentum!"

"That's exactly what we're saying. There's nothing to worry about with the 'major infrastructure' sector. Just keep buying on dips."

"Okay, then let's continue to firmly hold long positions in the 'major infrastructure' sector."

"However, I still think the 'emerging industrial chain' sector is worth paying attention to. Last night's surge in US stocks was mainly driven by the stocks of several major tech giants. Logically, this should stimulate a range of tech stocks in the A-share market."

"The tech giants in the US stock market are true tech giants. How many truly hardcore tech stocks do we have in the A-share market?"

"That's true, it depends on the choice of funds."

"In short, no matter which option you choose, the risk of a sharp drop in the market at this level is relatively small, right?"

"There's no need to worry too much about the overall market. As long as the index stays above 3000 points, there will definitely be sustained localized profit-making opportunities."

'Yes, I think so too.'

Amidst the continuous and heated discussions among countless retail investors on major online stock investment exchange platforms.

The brief 5-minute trading halt passed in the blink of an eye.

Soon, amidst everyone's anticipation, 9:30 AM arrived, and both stock exchanges began their official continuous trading session. (End of Chapter)