融资净买超43亿，后面牵出一串大手笔

Core Viewpoint - The article emphasizes that the true market direction is determined by the underlying attitudes of institutional investors rather than superficial data such as net buying amounts in various sectors [1]. Group 1: Market Reactions to News - The article discusses a case where a pharmaceutical stock was expected to drop due to negative news but instead rose by 30%, highlighting the disconnect between perceived bad news and actual market behavior [3]. - It illustrates that institutional investors may use negative news as an opportunity to accumulate shares quietly, as evidenced by increasing institutional inventory despite falling stock prices [4]. Group 2: Institutional Behavior - The article points out that institutional attitudes are reflected in their trading behaviors rather than just in news headlines or stock price movements [6]. - A specific example is given where a stock with a reported 8-fold increase in net profit actually saw a 10% decline because institutional investors were not participating in the rally, indicating a lack of interest [6]. Group 3: Importance of Institutional Inventory - The article stresses the importance of monitoring institutional inventory levels as a key indicator of market sentiment, suggesting that rising inventory alongside positive news indicates genuine interest from institutions [8]. - Conversely, if there is significant buying activity without a corresponding increase in institutional inventory, it may suggest that retail investors are driving the price, leading to potential instability [9]. Group 4: Conclusion on Market Dynamics - The article concludes that there are no absolute "good" or "bad" news in the market; the critical factor is whether institutions are willing to act on the news [9]. - Quantitative data on institutional inventory serves as a tool to reveal the true intentions of institutional investors, helping to navigate market perceptions [9].