大牛市信号明确！跷跷板重现，高切低成最优解，共振龙头是核心

Core Insights - The recent surge in coal stocks, such as Dayou Energy and Antai Group, is driven by increased heating demand due to a strong cold front, reflecting a broader market trend of "seesaw effect" and "high-cut low" strategies [1][3] - The market operates on three main lines: anti-involution (coal, steel), technology (AI, chips), and infrastructure (new and traditional), with funds rotating between these sectors based on valuation and risk preferences [3][4] Group 1: Market Dynamics - The "high-cut low" strategy is not conservative but rather an active approach, focusing on reallocating funds to higher value assets [4] - Funds are shifting within sectors, moving from high-valued leaders to low-valued stocks, as seen in the robotics sector where investments are transitioning from core hardware to component manufacturers [6] - Cross-sector switching occurs from high-valuation growth sectors (like semiconductors) to undervalued value sectors (like utilities and energy), with military stocks trading at a 30% discount compared to tech stocks [6] Group 2: Investment Strategies - Gradual position switching is recommended to avoid volatility, with institutions reducing high-position stocks while gradually increasing low-position stocks [6] - Successful high-low switching relies on proactive positioning rather than reactive following, as evidenced by early investments in coal stocks before the cold front [6] - The emergence of new market leaders often occurs at the intersection of policy direction, fund flow, and market sentiment, as illustrated by the recent interest in cross-strait cooperation stocks [8] Group 3: Risk Management - In the current market environment, a diversified portfolio is crucial, with suggested allocations of 30% in technology, 40% in new energy, and 20% in military sectors to maintain stability during rotations [10] - Strict risk control measures are essential, with guidelines to cut losses if stocks fall below the 120-day moving average or experience a 15% drawdown [10] - The market demonstrates that each adjustment in a bull market presents an opportunity for funds to reposition, emphasizing the importance of strategic entry points rather than chasing hot trends [10]