The time came on Wednesday, August 15th. Today’s market performance disappointed countless investors who had high hopes for the securities sector. The closing price of the securities sector fell by nearly 5 points today, and the Shanghai Stock Exchange Index also fell by more than 2 percentage points today.
Tiansheng Holdings fluctuated at the price of 35,000 yuan for several days. Instead of breaking through to a record high as expected by the market, it fell below the 35,000 mark and stepped back.
The expectations for the securities sector have been met with disappointment again and again, which has made many investors vow to buy securities again.
In fact, the stagflation in the securities sector in the past three days has long made investors feel uneasy. When stagflation first appeared on Monday, it was nothing. Yesterday, stagflation again made investors smell the danger, but they did not leave because they still had hopes.
A touch of fantasy.
The reason why I didn't leave was that I saw the huge volume at the bottom of this sector. Most investors planned to continue to plan for another day, but there were only three things to do. If the volume is still sluggish today, then they should temporarily avoid risks.
Well, today's performance is not a problem of stagflation. The market opened sharply and fell, and everyone was trapped.
Investors simply had no time to sell, because many people were not decisive enough in stop-loss operations. During a period of hesitation, they lost more and more, and then they hesitated more and more. When they saw a sharp drop of six or seven points in one day, they were distressed and even more unwilling to cut their flesh.
At this time, what stock investors are thinking is, what if this is the main force's washout, will it take off after cutting off the meat and not explode on the spot?
So I planned to re-organize the situation. Anyway, my current position is not high, so that’s it. The worst case scenario is lying down and pretending to be dead.
The active pattern has turned into a passive pattern, and the classic short-term pattern has once again turned into a mid-term pattern, and the mid-term pattern has turned into a long-term pattern. Perhaps the long-term pattern has once again become a contributor.
…
The following day is Thursday.
In the morning, Lu Ming came to the company to work today, but did not attend today's morning meeting. He sat in his office for a while and looked at the performance of the gold market.
I opened the gold market today and took a look.
"Oh..." Lu Ming looked at the data on the computer screen and realized that while he was sleeping last night, the global gold market experienced a sharp drop.
London gold and New York gold both fell sharply by more than -1.5%, hitting a new low for the year. Domestic gold TD also hit a new low for the year, and fell technically.
Out of such a market, the bulls of the technical analysis school will either cut their losses and stop their losses, or they will follow the market and go in empty handed.
Lu Ming saw a material report from Qi Wei on his desk. This was a summary of the recent position adjustments of gold as an investment product according to Lu Ming's instructions. Short-short funds had closed all positions last night.
Tiansheng Capital's diving funds are not a small amount, and they are superimposed with a leverage ratio. After closing the short position last night, of course, the backhand was to open a further long position. Not only Tiansheng Capital's diving funds began to go long, but also on a global scale.
There are also many investors opening long orders.
It is reflected on the trend chart as a red cross star K-line that has recovered after a sharp drop. London gold is the most obvious, with the lowest level reaching 1159.96.
From the sharp decline on August 13th and 15th, to the further acceleration of the sharp decline and recovery last night, from the perspective of technical analysis, the K-line of this red cross star is the so-called golden needle bottom.
A very important thing in the next financial market is the expectation of another interest rate hike for the U.S. dollar. Raising interest rates means that the U.S. dollar is strong. Once the currency appreciates, it will affect the exchange rate market. The first to bear the brunt is the euro and gold, which have a certain inverse relationship with it.
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Normally, when the U.S. dollar appreciates, gold will fall, and when the U.S. dollar depreciates, gold will rise.
The U.S. dollar has raised interest rates twice this year, while gold has continued to fall, which also verifies this inverse logical relationship.
But this is not absolute. After the U.S. dollar raised interest rates, gold not only did not fall, but started a vigorous gold bull market from the end of the third quarter of this year.
The reason is still the issue of U.S. dollar credit and U.S. debt. To put it simply, the United States has printed too much money in recent years. In the next two years, it will print money like crazy. Investors around the world lack confidence in the U.S. dollar.
In short, this is the result of the sharp decline in the credit of the US dollar, and the safe-haven properties of gold are once again reflected.
There is an old saying in China called "Antiques in prosperous times, gold in troubled times", which shows that in times of war and turmoil or when financial and economic crises break out, gold has better circulation than various banknotes, plays a very good hedging effect, and is more valuable than banknotes.
Value preservation effect.
If there is another financial tsunami, people will definitely choose gold instead of green paper dollars.
After watching the trend of the gold market for a while, Lu Ming picked up the landline phone and called Han Qiulin and called her into his office.
"Chairman, what are your orders?"
Lu Ming sat in his desk, leaning on the boss chair and thinking for a moment. When he saw Han Qiulin coming in, he asked: "What is the current pricing power of our A-share market?"
Han Qiulin did not expect Lu Ming to ask such a question, but in her current position, she must be able to answer such questions in a timely manner. After a while, she said: "I need to sort out the materials for specific industry segments and come up with a big picture.
He said that the pricing power of the A-share market is now in a three-legged structure, Tiansheng Capital + overseas capital, and senior management.”
The simplest example of the so-called pricing power, whether it has pricing power, is that the market uses it as an anchor. For example, which industry Tiansheng Capital enters, the stock prices of listed companies in this industry will rise in both volume and price, and vice versa.
Industry, the stock prices of listed companies in this industry will suddenly collapse and plummet.
This is called pricing power.
Nowadays, Tiansheng Capital definitely has a certain amount of pricing power. The most intuitive manifestation is that Lu Ming sang long gold in the first half of the year and directly promoted a super market for Zijing Mining.
However, it still does not have a considerable degree of dominance in market pricing power. For example, in the current new energy and large technology sectors represented by chips and semiconductors, especially in the new energy sector, the market does not buy Lu Ming's account very much. Now
It is still falling, and it has almost reached the cost line of Tiansheng Capital Investment’s holdings of major targets.
Some have already experienced floating losses of more than 10 percentage points. If it hadn't been for fixed growth, the floating losses on the books might have exceeded 30%.
However, for Tiansheng Capital, the current results can be said to be quite outstanding. After all, the company was established in 2015 and has the current influence. It is difficult to find another company in the world.
Seeing that Lu Ming was holding a piece of gold material and was silent, Han Qiulin crossed her hands and rested her chin and said thoughtfully: "The current conclusions are very clear, the debt of the country and the downward trend of real interest rates, and
The top management should also understand this truth, why haven’t countries rushed to buy gold yet?”
Lu Ming listened to her confused question, smiled and spread his hands and said: "It doesn't matter, gold is meaningless to the country, as long as we have the right to mint money, why do we need gold?"
Han Qiulin spoke concisely and to the point: "What's the point?"
Lu Ming: "The reason is very simple. For a country, military power is far more important than gold. Can countries in the future be able to seize the shape of global credit and move out dozens of tons of gold like they did in the last century?"
With that said, Lu Ming came out of his desk and headed towards the sofa in the rest area, "I can only say that gold should be allocated as a major asset class. It is enough for our institutions to do this kind of thing. The country does not have to do it personally.
, There is no need for this thing to build national credit. After World War II, the Bretton Woods system delinked gold, and the credit of the United States does not rely on gold."
Lu Ming sat down on the sofa, crossed his legs, glanced at Han Qiulin, and added slowly: "...rely on your fists. How hard your fist is, how hard the paper you print will be. Specifically speaking, it is talent, education.
, high technology and most importantly the world’s number one military force, so why do we need gold? The same is true for our country. The country does not need to allocate gold at all. In the final analysis, what it really seizes is the military, education, and talents.”
"These are precisely the core supporting elements for innovation and productivity. Whoever gets this will have the strongest credit in the world, and those who don't get it will be screwed. If you understand this, you will understand that the current trade war is not a trade at all.
, technology, trade, technology including the anchor of global pricing are all the same thing.”
"The United States wants to hold back our technological innovation, and then let Musk and his gang quickly go to Mars, new energy revolution, 5G and other innovative fields to complete the next big technological leap ahead of us and lead the world. By then, we will be able to form
By reducing dimensionality and attacking the absolute advantage of ordinary people, the United States can continue to maintain its current status and sit back and relax.”
