Market rotation, the套路 is actually just a few. How does smart money survive in different market conditions and still make profits?

**Bull Market Focus on Main Themes**

When there is plenty of money and popularity, the market will wildly assign valuations to those storytelling industries. What is the most profitable at this time? Find the "locomotive" that runs the fastest, and don't ride the old-fashioned tricycles.

What exactly is it? It refers to the industry directions that the country重点发展. The wave in the second half of last year, "9·24," was very clear—AI, chips, robotics, new drugs, these硬科技 took off completely. AI computing power companies like Zhongji Xuchuang and Xin Yisheng doubled directly, Heguang Information and Cambrian also took turns rising in the chip field, becoming the market's定海神针. Following the right direction means earning trend money.

**Bear Market Emphasizes Grouping for Stability**

When the market is not good? All stocks are falling, but some sectors can still do well. What kind? Either performance is as steady as an iron plate, with demand not disappearing due to economic fluctuations (like high-end liquor, utilities); or supported by policies (like high-dividend dividend assets). These are the "避风港" for large funds.

When the market faces a storm, smart people all squeeze into the same place—under a solid umbrella. The reason these "抱团股" can survive is mainly because their performance is solid and they are weak in cyclicality.