Core Viewpoint - The article emphasizes the importance of understanding the "centralized bidding" trading method in the stock market, comparing it to a bustling market where buyers and sellers interact to determine prices, particularly during the critical opening period of trading [1][3][5]. Summary by Sections Centralized Bidding Mechanism - Centralized bidding can be likened to a large market where buyers submit their highest acceptable prices and sellers their lowest, with the exchange acting as a facilitator to match these orders based on price and time priority [3][5]. - The process is characterized by fairness and transparency, as participants remain anonymous and unaware of each other's orders [3]. Price and Time Priority - Price priority means that buyers willing to pay higher prices are more likely to complete their purchases, while sellers offering lower prices can sell their goods more easily [3]. - Time priority ensures that if two buyers offer the same price, the one whose order arrives first is executed first, making the opening minutes of trading particularly dynamic and revealing of market sentiment [3][5]. Market Dynamics During Opening - The article illustrates the dynamics of centralized bidding by comparing it to a popular food stall, where high demand leads to competitive pricing, and the final transaction price often reflects a compromise between buyers and sellers [5][7]. - It highlights that the opening price established during centralized bidding may not reflect the market's direction once continuous trading begins, as external factors can lead to significant price adjustments [7]. Importance of Centralized Bidding - Understanding centralized bidding is crucial for investors, as it serves as an early indicator of market trends and can help avoid potential losses during the opening phase of trading [7].

试盘，就是要刺探多空双方力量的强弱。所以，试盘时，我们绝不能有主观的多空偏好，而是要"无多空"地，在交易系统的提示下出入场。不做死多头， 也不做死空头，而要做一颗"海草"，随波飘摇，在浪花里舞蹈。我们要做一个真正的顺势者，不去预测市场，而是感悟市场，应对市场。 ——笔记哥《应对 》 【笔记20250102— 开门红：血流成河 VS 满面红光（+财新PMI低于预期+股市大跌+资金面收敛转松=大下)】 资金面收敛转松，长债收益率大幅下行。 央行公开市场开展248亿元7天期逆回购操作，今日有2986亿元逆回购到期。净回笼2738亿元。 | 利率信矩阵 信用债矩阵 | | NCD矩阵 中资美元债 | 全球国债 | | | | 0 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 11 | 2Y | 3Y | 54 | 7Y | 10Y | 30Y | | | 220026.IB | 240019.IB | 240016.IB | 240014.IB | 240018.IB | 240011.IB | 2400006.IB | | 中国 | 1.0300 | ...