Bloodshed Technology, cycle de croissance effréné ! Le marché joue à nouveau à « deux poids deux mesures »

** Short-term core philosophy: Unity of knowledge and action, operate within your own pattern recognition, focus more on personal growth internally, control drawdowns through position sizing, slow is fast. [Taogu Ba]
**
To become a top contributor, you need at least 7 contribution vouchers. Friends who want to contribute can wait until the weekend summary post to add their support. Thank you~
**
Today’s operations:**

Wednesday:

Holding: Yunnan Energy Control

1. Yasheng Group feels unable to hit the limit-up, so it sold off; Aerospace Development and China Satellite did not actively rise in the morning, moving around 0 axis; Intercontinental Oil & Gas moved slightly green in the morning;

2. Bought Yunnan Energy Control at the close;

Summary of the day: The market continues to rotate rapidly like a windmill, returning to the market sentiment of collective holding.

Market analysis today:

Today’s market showed a typical “index up, individual stocks down” divergence. The indices looked red and vibrant, but the account might be green or red. The three major indices all closed higher, with the ChiNext index leading at +1.31%, Shenzhen Composite +0.78%, Shanghai Composite +0.25%. However, over 3,200 stocks declined, only about 2,000 rose, indicating a very concentrated profit-making effect.

Trading volume expanded to over 2.5 trillion yuan, an increase of about 110 billion from yesterday. This shows huge divergence in the market, with funds actively reallocating stocks.

The core feature of today’s market is “style switching.” Yesterday’s shining tech growth stocks (AI computing power, CPO) cooled down today, while the previously abandoned cyclical sectors (chemical, new energy) made a comeback. Funds are like weather vanes, blowing to both sides.

Today’s main themes are very clear, only three:

Strongest main theme (event + cost-driven): Chemical industry (coal chemical, salt chemical). This sector fully exploded today, with many stocks hitting the limit-up. Two core drivers: first, sharp fluctuations in international oil prices, which, despite pulling back from highs, remain relatively high, providing cost advantages for coal and chemical routes; second, product price hikes, such as titanium dioxide and other chemicals issuing price increase notices intensively. This is a typical “price hike logic” hype.

Second-tier main theme (policy + demand-driven): New energy (batteries, photovoltaics, energy storage). Power equipment, batteries, photovoltaics led the gains. The logic is based on the expectation that “developing new energy storage” is written into government work reports, and industry demand is warming (e.g., lithium battery production data is good). Funds are seeking sectors with policy backing and performance certainty.

Major adjustment theme (profit-taking + risk appetite change): AI computing power, semiconductors, military industry. Yesterday’s leaders (CPO, semiconductors) today led the decline. Mainly short-term profit-taking, plus the release of a safety risk warning by China Internet Emergency Center on OpenClaw (open-source AI agent), which cooled hot topics. The military sector also adjusted due to expectations of easing geopolitical tensions.

Key points of short-term sentiment and capital game:

Volume-driven divergence, funds clustering: trading volume increased but individual stocks mostly fell, indicating funds are not attacking broadly but flowing out of tech stocks and concentrating into chemical and new energy sectors. This is a typical “building the east wall to repair the west wall” rotation.

Northbound funds slightly inflow: today’s net inflow of 2.26 billion yuan mainly increased positions in new energy and consumer sectors, reducing holdings in tech stocks. Foreign capital is also restructuring.

Market sentiment cautious: although indices rose, more stocks declined than rose, and the number of limit-up stocks (79) is not high. Market sentiment is not as optimistic as the index suggests; risk aversion and wait-and-see are strong.

Next week’s news outlook:

US inflation data (big event tonight): At 20:30 Beijing time, US February CPI data will be released. This is the top event for global markets this week, directly affecting the Fed’s rate cut expectations and global liquidity. If data exceeds expectations, growth stocks may be suppressed again; if in line or below expectations, the market may get a breather.

Middle East situation: Although Trump has signaled easing, US-Iran military confrontation continues, and the Strait of Hormuz remains a focus. This directly impacts oil prices and global inflation expectations, influencing chemical and oil & gas sectors.

Domestic policies and industry events: The National Two Sessions will close tomorrow (March 12). Watch for any unexpected policy details. Additionally, the Hangzhou Global Artificial Intelligence Conference (GAIC) will be held from March 12-14, potentially providing new catalysts for the AI sector.

Trading ideas and suggestions:

Follow the rotation closely, avoid chasing highs: Currently, the market is a rapid sector rotation. Yesterday’s tech chase may lead to being trapped; today’s chemical sector chase may also result in losses. For sectors like chemicals and new energy that are strong today, do not chase if they continue to rise tomorrow—wait for a pullback.

Look for low-entry opportunities in tech stocks: AI computing power, semiconductors, etc., have adjusted today, but the industry logic remains unchanged. If they continue to adjust tomorrow, consider low buying opportunities for core stocks. Especially if tonight’s US CPI data is not bad, tech stocks may rebound.

Control positions, watch less, act more cautiously: The market direction is unclear, and rotation is fast. Keep total positions around 50%, retain enough cash, and wait patiently for clearer main themes or market stabilization.

Pay close attention to tonight’s US CPI: This data will determine the risk appetite of global markets in the coming days. After release, observe the reaction of US stocks, especially Nasdaq, which will guide the trend of A-shares tech stocks tomorrow.

Summary:

Today’s market played a “high-low switch” drama, with funds withdrawing from high-level tech stocks and flowing into low-level cyclical sectors. This kind of market operation is very challenging; chasing highs and selling lows can easily lead to losses. Currently, patience and position control are key. Watch the sustainability of today’s strong chemical and new energy sectors; wait for stabilization signals in tech stocks that declined today. Before external macro data (US CPI) and internal policies (Two Sessions) clarify, the market is likely to maintain this oscillating rotation pattern. Remember, surviving is more important than making money in this kind of market.

Growth philosophy:

My personal philosophy is “fish first, then net.” Fishing cannot be mastered in a day or a week, but catching fish gives you the capital to make mistakes. The first step in fishing is to improve your aesthetic judgment, not to analyze technical charts, because you don’t have a complete pattern. Relying on a single indicator will inevitably be more superficial than substantial. So, cultivate your aesthetic, focus on core insights, and feel the high premium of prediction and deduction. As the saying goes: “Read three hundred Tang poems thoroughly, even if you can’t compose poetry, you can recite.”

In terms of learning, you should either learn correctly to achieve more with less, or explore on your own. The worst is starting to learn during the novice period and being misled into chaotic knowledge. Many friends use a set of terminology without knowing where they learned it, talking a lot but mostly wrong. Sometimes, when you try to correct them, they stubbornly cling to their misconceptions—this is because they have accumulated a lot of bad habits and their thinking is rigid. As a result, they cannot understand the worldview of stocks you talk about; everything becomes conspiracy theories, luck-based, and backtesting is useless. They just close their eyes and pick randomly, believing that success or failure is predestined.

I always believe that “fish first”: when people start to eat the fish, they will correct their understanding of the market and admit that their previous pattern of making no money was wrong. If you follow for more than a month, you will notice your aesthetic for stock selection gradually improving—this is the effect. One day, you will realize that your view of the market has changed; all candlestick patterns and stock movements become clear, and enlightenment is built on solid foundational cognition and daily practice.

Therefore, the direction of learning is very important. If you lack talent, you need to follow others. There are countless ways to the Tao; you will always find the one that suits you. Welcome more friends to join our journey every week into the vast sea of stars!**
**
Enlightenment post:**

Thanks to @DabaoDaiPig for the support with contribution vouchers!
**
Thanks to @DabaoDaiPig, @JiaBeiStock, @SilentWater for the tips and support!**
**
Wishing all friends who like to like and tip a long-lasting bull market in 2026!**