[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio2078bcd5":3},{"user":4,"document":8,"mainDocument":26,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":22,"videoId":6,"liveVideoUrl":6,"duration":23,"price":23,"priceText":24,"priceBadgeText":24,"priceBadgeClass":25,"freeForMinGroupLevel":23,"redirectUrl":6,"readyToStream":5},"dcio2078bcd5","美伊停火引发市场反弹，但美国散户投资者却选择卖出","\u002Fdoc\u002Fdcio2078bcd5","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">美国和伊朗停火消息引发市场反弹，但美国散户投资者选择了卖出。摩根大通最新零售雷达报告显示，散户行为模式已发生根本性转变——从此前的\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">逢跌买入\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">，演变为如今的\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">逢涨减仓\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">，防御倾向持续强化。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">据美股投资网，摩根大通周三发布报告称，本周散户整体交易活动极度低迷，活跃度仅处于历史\u003C\u002Fspan>1.2%\u003Cspan style=\"font-family: DengXian;\">分位。尽管当日油价录得\u003C\u002Fspan>2020\u003Cspan style=\"font-family: DengXian;\">年以来最大单日跌幅、\u003C\u002Fspan>VIX\u003Cspan style=\"font-family: DengXian;\">恐慌指数跌破\u003C\u002Fspan>20\u003Cspan style=\"font-family: DengXian;\">，市场情绪明显改善，但散户资金流入并未随之回暖——盘中一度出现近一年来最大规模的\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">净卖出，收盘时\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">持仓敞口降至逾\u003C\u002Fspan>10\u003Cspan style=\"font-family: DengXian;\">个月最低水平（\u003C\u002Fspan>0.4%\u003Cspan style=\"font-family: DengXian;\">分位）。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">\u003Cimg src=\"\u002Fimages\u002FRetail-buy.png\" width=\"731\" height=\"320\" alt=\"Retail-buy\" style=\"display: block; margin-left: auto; margin-right: auto;\" \u002F>\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\"> \u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">这一行为转变对市场具有直接含义：散户群体对本轮反弹的持续性持明显怀疑态度，其防御性仓位调整可能对宽基指数\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">及能源、工业等周期性板块形成持续的资金面压力，而科技龙头股（\u003C\u002Fspan>Mag7\u003Cspan style=\"font-family: DengXian;\">）仍是为数不多的散户净买入方向。\u003C\u002Fspan>NVDA APPL GOOG META\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\"> \u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large; color: #0000ff;\">散户整体活动骤降，反弹未能提振信心\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">摩根大通数据显示，截至\u003C\u002Fspan>4\u003Cspan style=\"font-family: DengXian;\">月\u003C\u002Fspan>8\u003Cspan style=\"font-family: DengXian;\">日当周（\u003C\u002Fspan>4\u003Cspan style=\"font-family: DengXian;\">月\u003C\u002Fspan>2\u003Cspan style=\"font-family: DengXian;\">日至\u003C\u002Fspan>8\u003Cspan style=\"font-family: DengXian;\">日），散户资金流入总量降至\u003C\u002Fspan>48\u003Cspan style=\"font-family: DengXian;\">亿美元，远低于过去\u003C\u002Fspan>12\u003Cspan style=\"font-family: DengXian;\">个月周均\u003C\u002Fspan>66\u003Cspan style=\"font-family: DengXian;\">亿美元的水平。散户继续偏好\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">（净买入\u003C\u002Fspan>53\u003Cspan style=\"font-family: DengXian;\">亿美元），个股方面则录得净卖出\u003C\u002Fspan>4.6\u003Cspan style=\"font-family: DengXian;\">亿美元。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">当日盘中数据更为直观地呈现了这一转变。上午\u003C\u002Fspan>11\u003Cspan style=\"font-family: DengXian;\">时，散户买入活跃度仅处于过去一年\u003C\u002Fspan>1.6%\u003Cspan style=\"font-family: DengXian;\">分位，\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">净卖出规模创近一年最大；下午\u003C\u002Fspan>1\u003Cspan style=\"font-family: DengXian;\">时，散户短暂转为\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">小幅净买入并开始回补个股；但至收盘，\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">敞口再度回落至\u003C\u002Fspan>0.4%\u003Cspan style=\"font-family: DengXian;\">分位，个股净买入亦维持在\u003C\u002Fspan>7.6%\u003Cspan style=\"font-family: DengXian;\">分位的低位。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cimg src=\"\u002Fimages\u002FYear\u002F2026\u002F03\u002Fstock-buy.png\" width=\"699\" height=\"342\" alt=\"stock-buy\" style=\"display: block; margin-left: auto; margin-right: auto;\" \u002F>\u003C\u002Fp>\r\n\u003Cp> \u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">报告指出，这一模式印证了过去一个月散户行为的持续性转变：散户已从\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">逢跌买入\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">切换至\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">跳过下跌、逢涨减仓\u003C\u002Fspan>\"\u003Cspan style=\"font-family: DengXian;\">，整体仓位更趋防御。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large; color: #0000ff;\">\u003Cspan style=\"font-family: DengXian;\">宽基\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">遭净卖出，散户对反弹持怀疑态度\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large; color: #000000;\">\u003Cspan style=\"font-family: DengXian;\">散户对本轮反弹的怀疑态度在\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">层面体现得尤为明显。摩根大通报告显示，散户当日对宽基股票\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">的买入量为近一年最低（\u003C\u002Fspan>z\u003Cspan style=\"font-family: DengXian;\">值为\u003C\u002Fspan>-2.3\u003Cspan style=\"font-family: DengXian;\">），持续净卖出\u003C\u002Fspan>SPY\u003Cspan style=\"font-family: DengXian;\">和\u003C\u002Fspan>TQQQ\u003Cspan style=\"font-family: DengXian;\">直至收盘。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large; color: #000000;\">\u003Cspan style=\"font-family: DengXian;\">在板块\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">方面，散户净卖出规模同样显著（\u003C\u002Fspan>0.4%\u003Cspan style=\"font-family: DengXian;\">分位，\u003C\u002Fspan>z\u003Cspan style=\"font-family: DengXian;\">值\u003C\u002Fspan>-3.1\u003Cspan style=\"font-family: DengXian;\">），其中半导体三倍做多\u003C\u002Fspan>ETF SOXL\u003Cspan style=\"font-family: DengXian;\">遭到最大规模抛售（\u003C\u002Fspan>0.8%\u003Cspan style=\"font-family: DengXian;\">分位）。与此同时，散户削减了通过反向\u003C\u002Fspan>ETF SCO\u003Cspan style=\"font-family: DengXian;\">持有的石油空头头寸（\u003C\u002Fspan>z\u003Cspan style=\"font-family: DengXian;\">值\u003C\u002Fspan>-7.7\u003Cspan style=\"font-family: DengXian;\">），并增持了原油\u003C\u002Fspan>ETF USO\u003Cspan style=\"font-family: DengXian;\">（\u003C\u002Fspan>75%\u003Cspan style=\"font-family: DengXian;\">分位），显示其对油价走势的判断出现调整。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">在\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">买入方向上，散户本周偏好固定收益多元板块（净买入\u003C\u002Fspan>2.14\u003Cspan style=\"font-family: DengXian;\">亿美元）、大盘成长风格（\u003C\u002Fspan>2.09\u003Cspan style=\"font-family: DengXian;\">亿美元）、多市值宽基（\u003C\u002Fspan>1.92\u003Cspan style=\"font-family: DengXian;\">亿美元）及股息策略（\u003C\u002Fspan>1.82\u003Cspan style=\"font-family: DengXian;\">亿美元），而能源（\u003C\u002Fspan>-9800\u003Cspan style=\"font-family: DengXian;\">万美元）和科技（\u003C\u002Fspan>-8100\u003Cspan style=\"font-family: DengXian;\">万美元）板块\u003C\u002Fspan>ETF\u003Cspan style=\"font-family: DengXian;\">遭到净卖出。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">能源遭抛售，\u003C\u002Fspan>Mag7\u003Cspan style=\"font-family: DengXian;\">仍是避风港\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-family: DengXian; font-size: large;\">个股方面，散户当日净卖出覆盖几乎所有板块，能源和工业领跌，通信服务为唯一例外。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">能源股的持续抛售与基本面因素相互印证。埃克森美孚在其\u003C\u002Fspan>8-K\u003Cspan style=\"font-family: DengXian;\">文件中披露，卡塔尔和阿联酋的生产中断预计将使全球油气当量产量环比下降约\u003C\u002Fspan>6%\u003Cspan style=\"font-family: DengXian;\">，两列\u003C\u002Fspan>LNG\u003Cspan style=\"font-family: DengXian;\">列车受损（约占\u003C\u002Fspan>2025\u003Cspan style=\"font-family: DengXian;\">年上游产量的\u003C\u002Fspan>3%\u003Cspan style=\"font-family: DengXian;\">）可能需要较长修复周期，中东局势扰动预计带来\u003C\u002Fspan>7\u003Cspan style=\"font-family: DengXian;\">亿美元的环比盈利压力。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">相比之下，\u003C\u002Fspan>Mag7\u003Cspan style=\"font-family: DengXian;\">仍是散户为数不多的净买入方向。本周散户买入特斯拉（\u003C\u002Fspan>4.94\u003Cspan style=\"font-family: DengXian;\">亿美元）、英伟达（\u003C\u002Fspan>2.98\u003Cspan style=\"font-family: DengXian;\">亿美元）、微软（\u003C\u002Fspan>2.82\u003Cspan style=\"font-family: DengXian;\">亿美元）、\u003C\u002Fspan>META\u003Cspan style=\"font-family: DengXian;\">（\u003C\u002Fspan>1.40\u003Cspan style=\"font-family: DengXian;\">亿美元）、苹果（\u003C\u002Fspan>1.00\u003Cspan style=\"font-family: DengXian;\">亿美元）、谷歌（\u003C\u002Fspan>6200\u003Cspan style=\"font-family: DengXian;\">万美元），仅亚马逊录得净卖出（\u003C\u002Fspan>-3600\u003Cspan style=\"font-family: DengXian;\">万美元）。其中\u003C\u002Fspan>META\u003Cspan style=\"font-family: DengXian;\">获得额外资金流入，部分原因在于其超级智能团队发布了新模型。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">\u003Cspan style=\"font-family: DengXian;\">摩根大通数据显示，非散户投资者上周净卖出\u003C\u002Fspan>85\u003Cspan style=\"font-family: DengXian;\">亿美元，高于过去\u003C\u002Fspan>12\u003Cspan style=\"font-family: DengXian;\">个月均值\u003C\u002Fspan>73\u003Cspan style=\"font-family: DengXian;\">亿美元。与此同时，期货交易者净买入约\u003C\u002Fspan>52\u003Cspan style=\"font-family: DengXian;\">亿美元，主要由标普\u003C\u002Fspan>500\u003Cspan style=\"font-family: DengXian;\">期货（\u003C\u002Fspan>ES\u003Cspan style=\"font-family: DengXian;\">，约\u003C\u002Fspan>18\u003Cspan style=\"font-family: DengXian;\">亿美元）和纳斯达克\u003C\u002Fspan>100\u003Cspan style=\"font-family: DengXian;\">期货（\u003C\u002Fspan>NQ\u003Cspan style=\"font-family: DengXian;\">，约\u003C\u002Fspan>34\u003Cspan style=\"font-family: DengXian;\">亿美元）驱动，与散户的防御性操作形成一定分化。\u003C\u002Fspan>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp> \u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FS\u002FSPY\u002FSPY5.jpg","2026-04-09T16:55:24","2026.04.09","2026\u002F04\u002F09",41301,[],"Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":27,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":22,"videoId":6,"liveVideoUrl":6,"duration":23,"price":23,"priceText":24,"priceBadgeText":24,"priceBadgeClass":25,"freeForMinGroupLevel":23,"redirectUrl":6,"readyToStream":5},"https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FS\u002FSPY\u002FSPY2.jpg",[],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" target=\"_blank\" rel=\"noopener noreferrer\">\u003Cimg style=\"display:block;margin-left:auto;margin-right:auto;\" src=\"https:\u002F\u002Fstockwewebfiles.blob.core.windows.net\u002Fweb-202408-stk\u002F1586109431mceclip0.jpg\">\u003C\u002Fa>\u003C\u002Ffigure>\u003Cdiv class=\"text-center\">\u003Ch2 class=\"card-title mx-auto\">\u003Cbr>\u003Ca target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\">案例介绍：英伟达深度研究报告\u003C\u002Fa>\u003C\u002Fh2>\u003C\u002Fdiv>",[33,37],{"productId":34,"serviceName":35,"priceText":36},"prod_PPxdDdK87QaiLv","月付","$12.95美元",{"productId":38,"serviceName":39,"priceText":40},"prod_PPxeMs3bix1da5","年付","$149.00美元",[],{"links":43,"images":68,"summaryHtml":73,"aboutTitle":74,"aboutHtml":75,"copyrightHtml":76},[44,47,50,53,56,59,62,65],{"label":45,"url":46},"深度报告","\u002Fcol\u002FdepthReport",{"label":48,"url":49},"VIP会员","\u002Fplan",{"label":51,"url":52},"期权推荐","\u002FOption",{"label":54,"url":55},"低价暴涨股","\u002FPenny",{"label":57,"url":58},"常见问题","https:\u002F\u002Fstockwe.com\u002FFAQ",{"label":60,"url":61},"美股课程","\u002Fcol\u002Fvideos",{"label":63,"url":64},"免责声明","\u002Fdisclaimer",{"label":66,"url":67},"联系我们","\u002FContactUs",[69,70,71,72],"https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploaderzic2tuwsol2_2025_09_11_18_21_07.gif","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadercakzdvydksw_2025_09_03_09_00_56.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploadergtjyagwvoyk_2025_09_14_08_32_05.png","https:\u002F\u002Fstockwebsiteblob.blob.core.windows.net\u002Fweb-202509-stk\u002FUploader3u0tt4jhlqh_2025_09_23_22_30_48.png","邮箱: buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]