Hexun Investment Advisor Yu Rongzhuo: From fiber optics to electronic fabrics, illustrating what makes a good stock characteristic

Recent market trends have once again confirmed the importance of the concept of “stock temperament” (股性). Taking related assets in the fiber-optics sector as an example, their stock prices have been extremely active—hitting the daily limit repeatedly and continuously setting new highs. This kind of stock temperament is not a short-term coincidence, but the result of multiple rounds of market consolidation and accumulation—Phase One from June to August last year, Phase Two from November to December last year, Phase Three from January to February this year; and it has now entered the Fourth Phase, with March again showing strong performance. This stock temperament is gradually built up through sustained market reinforcement.

Another kind of stock temperament comes from long-term historical memory. For example, some leading stocks in the large model sector, during the earlier nucleic acid testing theme rally, delivered a 20-fold gain within three months, thereby imprinting a very strong “stock temperament” in the market memory. Although the logic of this round of the rally is different from that time, the previous stock temperament still gives these names a certain added advantage. As a result, even under new logic-driven catalysts, they remain easily attracting capital attention and exhibit an active characteristic of being “easy to spark.”

For theme speculation in the A-share market, there is no shortcut—the core lies in sustained accumulation and personal experience. This accumulation requires firsthand experience, just like studying medicine requires a large amount of listening, speaking, reading, and writing. Only through repeated practice and reflection can one gradually develop the so-called “market feel” (盘感). Market feel is a crucial part of any trading system, and “the real work is done outside the ring”; it is the accumulation in everyday time that ultimately determines performance.

(Editor: Zhang Yan)

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