Huatai Securities: Focus on the intersection of low valuation, low crowding, and industries that could potentially benefit from high oil prices.

Huatai Securities research report points out that, in general, there may be a short-term oversold rebound, and it is recommended to control positions and be flexible in response; in terms of style, the overall market, value stocks may have an advantage; in terms of industry, it is recommended to focus on the intersection of low valuation, low crowdedness, and varieties that may benefit from high oil prices: 1) Direct beneficiaries: oil, natural gas, but it is not recommended to chase after high prices due to the high volatility of oil prices in the short term and domestic refined oil price controls; 2) Replacement effects: coal, power chain; 3) Strong ability to follow prices: chemical raw materials, oilfield services, cement, daily necessities, etc.; 4) Defensive necessities: essential consumption industries with low valuations and chips, such as food and beverage, breeding industry, general retail, etc. In the medium term, patiently wait for the right side signals to appear, and after a full adjustment, you can continue to focus on the layout of power chain and business cycle.