Although it fills the gap, it's just a rebound.

2026-4-1 Recap [Taoguba]

Today’s A-share market not only benefited from last night’s gains in overseas markets in Europe and the U.S., but also received a boost from today’s Asia-Pacific stock markets opening higher across the board and then trending strongly upward. It finally managed to break into a higher-open, range-bound move and filled the 3955 gap above. Although it wasn’t as strong as Japan and South Korea, at least we weren’t fooled on this April Fools’ Day.
Based on the intraday tape, today’s trading value was almost no different from yesterday. Over 4300 individual stocks closed green, and the gap was filled—seemingly a rebound and repair, but in reality the profit-taking effect is quite poor. At the open, the tech sector led the way with a higher open, but the subsequent pullback and the medical sector’s surge didn’t allow most investors to recover their recent losses. After the gap-filling at midday, it then quickly fell again. In addition, the targets with some visibility basically all got interrupted today. So here, we can only count it as a rebound rather than a reversal. Going forward, it’s still best to respond with a cautious attitude.

I personally didn’t understand yesterday’s drop, so I didn’t do a recap yesterday. But today’s sector behavior actually matches my recap from the day before. The day before, I suggested focusing on 铭普光磁 (Mingpu Guangci), which opened and秒板 (hit the intraday limit-up immediately). My hold, 美利云 (Meili Cloud), was also locked at the limit-up. Tomorrow, we’ll have to see how tonight’s U.S. stock market closes. If it closes with a middle-sized bullish candle (中阳), then tomorrow’s A-share market may still look good. If it closes with a bearish candle (阴线), then tomorrow we’ll need to be careful. Also, if within the first half hour tomorrow the market pushes up again and then gently pulls back, that would be benign. If it can’t push up within the first hour and instead just pulls back, then pay attention.

1. Gaming the power-electronics synergy:

Today’s computing power clearly completely overwhelms electricity. Previously, I mentioned the computing power side of the token-economy (词元经济) through computing power leasing, and it finally saw a general rebound today, but the strength is really not great. Guiguang Network, and Zhenzitong had no meaningful performance; Lianhua Holding, FiberHome Technologies, and Qunxing Toys also performed only average. However, today in the electricity/power sector, there was money accumulating on dips, especially in the photovoltaic direction. Although it’s influenced by rumors related to the second-phase order for Tesla’s photovoltaic project, even so, toward the end of the day, green-energy-related names also had fund support/acceptance. Therefore, tomorrow green-energy may have a potential rebound/overshoot (反抽) action.

2. CPO and optical fiber:

CPO also saw a repair today. 易中天 (Yizhongtian) surged strongly. Tomorrow still has the possibility of another push higher, but any push higher is the time to reduce positions.

Personal trading:
Today, I sold half of Meili Cloud (美利云) on the limit-up board. I bought Huasheng Tiansheng (华胜天成) at 26.01. At the close, I bought Zhongli Group (中利集团) at 4.53.

For individual stocks:
Worth watching: Huasheng Tiansheng, Yunnan Germanium Industry (云南锗业)

Personal view, for reference only! It’s not easy to keep doing recaps—please follow and discuss by commenting as well.