--- title: "A-share tech stocks are going crazy. Is it too late to chase now? First, understand that 2,400 stocks are falling today." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/42047130.md" description: "One-sentence conclusion: Today (6/22), A-share indices hit new highs again (Shanghai Composite Index broke 4000, ChiNext and STAR 50 indices hit all-time highs, Cambricon surged over 13% intraday approaching 1500 yuan), but on the same day, over 2400 stocks across the entire market were falling—this is a structural market where a minority of stocks rise while the majority fall. If you're feeling anxious about missing out and want to chase the hottest tech stocks right now, you're highly likely to end up buying one from the falling batch, which directly affects your wallet. First, let's explain a term: the 'fish tail' phase of a rally (what brokerages call the later stage of an uptrend, meaning the meatiest part of the fish has already been eaten..." datetime: "2026-06-22T09:05:35.000Z" locales: - [en](https://longbridge.com/en/topics/42047130.md) - [zh-CN](https://longbridge.com/zh-CN/topics/42047130.md) - [zh-HK](https://longbridge.com/zh-HK/topics/42047130.md) author: "[老韭菜进化](https://longbridge.com/en/profiles/25202815.md)" --- # A-share tech stocks are going crazy. Is it too late to chase now? First, understand that 2,400 stocks are falling today. One-sentence conclusion: Today (6/22), A-share indices hit new highs again (Shanghai Composite broke 4000, ChiNext and STAR 50 hit record highs, Cambricon surged over 13% intraday, approaching 1500 yuan), but on the same day, over 2400 individual stocks in the entire market were falling—this is a structural market where a few stocks rise while most fall. If you're feeling anxious about missing out and want to chase the hottest tech stocks right now, you're highly likely to end up buying one of the falling ones, which directly affects your wallet. First, let's explain a term: "tail-end market" (what brokerages call the later stage of a rally, meaning the fattest part of the fish has already been eaten, leaving only the tail). Although the top ten brokerages remain bullish on the high-tech sector's prosperity, they also clearly state there's no need to switch just for the sake of switching—wait for the July earnings previews for confirmation. In other words, even professional institutions are waiting for data and aren't telling retail investors to blindly rush in. Now, why you need to be especially careful this time: Last week, the new Fed Chair Warsh turned hawkish, and market expectations for a rate hike this year rose from 40% to over 80%. This means the recent tech rally in A-shares is driven by expectations of AI prosperity, not by loose monetary policy. In an expectation-driven rally, if next Thursday's (6/25) US core PCE (the Fed's most important inflation gauge) exceeds expectations, or if July earnings fail to meet expectations, there will be no rate cut expectations to cushion the pullback, and the decline could be much faster. So, what should you do? Here's a clear rule you can follow: In sectors hitting new highs and experiencing a wave of limit-up gains, do not use leverage and do not go all in. If you really want to participate in the prosperity, only use the floating profits you've already made in your account—leave your principal untouched—and set a profit-taking level before buying (e.g., exit if it falls below a certain moving average or retraces by a certain percentage). Also, set a trigger condition: If core PCE on 6/25 exceeds expectations, or if the leading companies' July earnings show weaker-than-expected prosperity, clear out this high-chasing position. Observation (indices at new highs but most stocks falling) → Understanding (this is the tail end, and there's no monetary safety cushion) → Action (no leverage, only use small positions with floating profits, set trigger conditions). Missing out means you can wait for the next bus, but getting caught with leverage in the tail end makes it hard to escape unscathed. Before placing an order, ask yourself: Am I buying the new high, or the last bite of the tail? $Cambricon(688256.SH) ### Related Stocks - [688256.CN](https://longbridge.com/en/quote/688256.CN.md) - [000001.CN](https://longbridge.com/en/quote/000001.CN.md)