Sou Hu Cai Jing·2025-07-25 23:38Market Overview - The A-share market is experiencing a surge, with sectors like robotics and steel showing significant performance, highlighted by 12 stocks receiving over 100 million yuan in net purchases from financing clients, led by Northern Rare Earth with 380 million yuan [1][4] - The Shanghai Composite Index has surpassed 3400 points, with a trading volume increase and a stock rise-to-fall ratio of 2.57:1, although less than 50% of stocks have risen over 6% [3] Market Illusions - Four major illusions in the bull market are identified: 1. The "waiting for a rise" illusion, where investors believe their stocks will soon increase in value 2. The "hot and cold" illusion, where rapid rotation of hot stocks leads to losses for those who chase them 3. The "rise and fall" illusion, where the index rises but individual stocks do not 4. The "high and low" illusion, where low-priced stocks are perceived as safe while high-priced stocks are seen as risky [5][10] Fund Dynamics - The 12 stocks favored by financing clients include Northern Rare Earth (380 million yuan), New Yi Sheng (281 million yuan), and Hainan Huate (163 million yuan), indicating significant fund dynamics at play [4][10] - The concept of "funding competition" is discussed, where aggressive buying often leads to subsequent adjustments, creating opportunities for informed investors [7][9] Institutional Research - A total of 194 companies were subject to institutional research, with New Yi Sheng attracting the most attention; however, not all intensive research leads to positive outcomes [10] - The distinction between "genuine research" and "fake research" is crucial, as some companies are investigated due to stock price fluctuations rather than genuine interest from institutions [10] Data Utilization - The importance of using quantitative data to navigate the market is emphasized, as it can reveal underlying trends and intentions that are not immediately apparent to average investors [11][12]