堆量骑点公式调妥，但担心的事还是发生了

Core Viewpoint - The article discusses the recent changes in stock selection models, highlighting an increase in the number of selected stocks and a significant rise in success rates, raising questions about the underlying factors influencing these trends [1][2][6]. Group 1: Stock Selection Changes - The number of stocks selected has decreased from 43 to 35, with a success rate increasing to 68% since June 23 [1]. - The recent year has seen a surge in selected stocks, surpassing the total from the previous three years, indicating a potential shift in market dynamics [2]. - The key filtering condition for stock selection is the "OVS" (On Volume Surge), which has shown that previous bull markets had lower OVS values, contributing to fewer selected stocks [2]. Group 2: Market Dynamics and Trading Behavior - The increase in stock selection and success rates may be attributed to changes in trading behavior, possibly influenced by the rise of quantitative trading [2]. - The recent two-month period has seen a notable increase in the number of successful trades, suggesting a possible phenomenon of market crowding due to high short-term capital density [2][7]. - Historical data indicates that previous bull markets did not exhibit similar patterns, suggesting that the current market conditions may be unique [2]. Group 3: Performance Metrics - The performance of selected stocks varies significantly across different market phases, with success rates ranging from 10% to 68% in various historical contexts [3]. - Specific groups of stocks have shown varying success rates, with the first group (2012-2015) having a 29% success rate and the most recent group (2025) achieving a 68% success rate [3]. - The model's effectiveness remains uncertain, with historical backtesting indicating potential limitations in its application [6].