邓文 鄧文 邓闻
07-21
拉倒吧，动量股在前期的大涨趋势后，已经进入正当模式，除非贝森特拉高黄金、或者特朗普再一次退缩，才能让动量股突破前高，没有这两个，还是整着吧，
瑞银：历史级别抛售后，现在是时候逐步建仓“动能股”了
华尔街见闻
紧盯全球金融市场，覆盖股市、外汇、债券、大宗商品等。
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Romano在致客户报告中指出，<strong>AI基本面持续改善，构成逢低买入的信号，但他同时建议投资者分批建仓，而非一次性重返市场。</strong></p>\n<p>Romano写道：</p>\n<blockquote>\n<p>降低动量股的风险配置，过去是、现在也依然是我们坚定看好的策略；（在这种行情下）分批建仓才是稳妥的做法。</p>\n</blockquote>\n<p>值得注意的是，AI与动量股的回暖可能以近期强势板块承压为代价。</p>\n<p>瑞银大宗经纪数据显示，银行、工业及其他周期股近期的买盘主要来自空头回补，而非新增多头，<strong>一旦资金重新轮转至AI相关标的，上述板块或面临回调压力。</strong></p>\n<div>\n<h2>仓位结构转向支撑反弹，软件股已率先走强</h2>\n</div>\n<p>Romano指出，<strong>当前持仓结构正日益向有利于动量股反弹的方向倾斜。</strong>同时其预计，<strong>此轮动量股抛售将在7月底前触底，甚至可能已经见底。</strong></p>\n<p>支持这一判断的关键信号来自上周五盘中的戏剧性走势，瑞银动量指标在短短两小时内从下跌3.5%急速翻转至上涨2.5%。Romano写道：</p>\n<blockquote>\n<p>我认为一旦形势发生逆转，市场将会迎来一波由流动性驱动的暴涨。</p>\n</blockquote>\n<p>瑞银动量股篮子成分股涵盖<a href=\"https://laohu8.com/S/SNDK\">闪迪</a>、<a href=\"https://laohu8.com/S/AVGO\">博通</a>、<a href=\"https://laohu8.com/S/ORCL\">甲骨文</a>、<a href=\"https://laohu8.com/S/DDOG\">Datadog</a>及<a href=\"https://laohu8.com/S/MSFT\">微软</a>等。</p>\n<p>与此同时，瑞银软件股篮子自6月底以来已上涨约20%，Romano认为这凸显出此类股票对仓位变动依然高度敏感。</p></body></html>","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n瑞银：历史级别抛售后，现在是时候逐步建仓“动能股”了\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-21 09:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><strong>瑞银认为，动量股的剧烈抛售或已接近尾声，建议投资者逐步重建人工智能与半导体股票头寸。</strong></p>\n<p>据瑞银大宗经纪数据，对冲基金已将动量股与半导体股的多头头寸削减约5%的总市值，为有记录以来最大幅度减仓之一，半导体与软件股的净持仓已回落至4月水平。</p>\n<p>瑞银对冲基金股权衍生品销售主管Michael Romano在致客户报告中指出，<strong>AI基本面持续改善，构成逢低买入的信号，但他同时建议投资者分批建仓，而非一次性重返市场。</strong></p>\n<p>Romano写道：</p>\n<blockquote>\n<p>降低动量股的风险配置，过去是、现在也依然是我们坚定看好的策略；（在这种行情下）分批建仓才是稳妥的做法。</p>\n</blockquote>\n<p>值得注意的是，AI与动量股的回暖可能以近期强势板块承压为代价。</p>\n<p>瑞银大宗经纪数据显示，银行、工业及其他周期股近期的买盘主要来自空头回补，而非新增多头，<strong>一旦资金重新轮转至AI相关标的，上述板块或面临回调压力。</strong></p>\n<div>\n<h2>仓位结构转向支撑反弹，软件股已率先走强</h2>\n</div>\n<p>Romano指出，<strong>当前持仓结构正日益向有利于动量股反弹的方向倾斜。</strong>同时其预计，<strong>此轮动量股抛售将在7月底前触底，甚至可能已经见底。</strong></p>\n<p>支持这一判断的关键信号来自上周五盘中的戏剧性走势，瑞银动量指标在短短两小时内从下跌3.5%急速翻转至上涨2.5%。Romano写道：</p>\n<blockquote>\n<p>我认为一旦形势发生逆转，市场将会迎来一波由流动性驱动的暴涨。</p>\n</blockquote>\n<p>瑞银动量股篮子成分股涵盖<a href=\"https://laohu8.com/S/SNDK\">闪迪</a>、<a href=\"https://laohu8.com/S/AVGO\">博通</a>、<a href=\"https://laohu8.com/S/ORCL\">甲骨文</a>、<a href=\"https://laohu8.com/S/DDOG\">Datadog</a>及<a href=\"https://laohu8.com/S/MSFT\">微软</a>等。</p>\n<p>与此同时，瑞银软件股篮子自6月底以来已上涨约20%，Romano认为这凸显出此类股票对仓位变动依然高度敏感。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/c0891ef0f0c6a41ff31743337cf77635","relate_stocks":{"DOGD":"2倍做多DDOG ETF-Tradr","LU1863844749.USD":"TEMPLETON EUROLAND \"A\" (USD) INC","ORCL":"甲骨文","AVS":"1倍做空AVGO ETF-Direxion","AVGG":"2倍做多AVGO ETF-Leverage Shares","AVGU":"2倍做多AVGO ETF-GraniteShares","MSFD":"1倍做空MSFT ETF-Direxion","BK4585":"ETF&股票定投概念","SNDC":"Corgi SNDK 2x Daily ETF","MSFL":"2倍做多MSFT ETF-GraniteShares","BK4534":"瑞士信贷持仓","MSFT":"微软","ORCS":"1倍做空ORCL ETF-Direxion","LU1863844665.USD":"TEMPLETON EUROLAND \"A\" (USD) ACC A","AVGW":"Roundhill AVGO WeeklyPay ETF","SNDG":"Leverage Shares 2X Long SNDK Daily ETF","MSFO":"MSFT期权收益策略ETF-YieldMax","BK4118":"综合性资本市场","ORCU":"2倍做多ORCL ETF-Direxion","MSFU":"2倍做多MSFT ETF-Direxion","AVGX":"2倍做多AVGO ETF-Defiance","IE0034235071.USD":"PINEBRIDGE EUROPE RESEARCH ENHANCED 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