Category: Money tips Release Date: 2006-02-19
Hualong Securities
For the moment, although the market is still strong among them, but Shen Chengzhi 10000-point level before and after continuous Yang Xian, the proposed technical adjustments to investors to maintain a vigilance.
The re-start by the end of March to become blue-chip index strengthened signal. A quarter of the profitability of industrial enterprises above designated size continued to improve, for the rise in stock price performance has laid a good foundation. Sustained growth in performance and stock index futures under the influence of the upcoming dual, blue-chip index rose to become the core strength. In addition, some have the assets into the overall market, equity-based incentives and other measures of listed companies has also become the new darling of the mainstream of funds has become a distinct current hot spots.
We note that, due to ample liquidity situation has not changed, credit is still too fast, triggering the central bank introduced a series of tightening policy, the market every month are going through the test of tightening bad: January 15, February 25 Bank of Japan raised the deposit reserve ratio twice, March 18 financial institutions, the central bank raised deposit and lending rates by 0.27 percentage points earlier this month, the central bank announced April 16 once again raising the deposit reserve ratio by 0.5 percentage points, which is in July 2006 the sixth increase since the central bank. The reserve rate will increase once the freezing of about 1,700 billion in liquidity. Mobility control is to adjust the purpose of credit in order to prevent further rapid growth, tightening policy intent is obvious. Continuous adjustment of the central bank can also be seen as the recent rapid rise in the stock market sent a warning signal to remind investors that the central bank was paying attention to asset prices. Although the central bank has adopted a multi-channel tightening, but the market has turned a blind eye to these bad as bargain-hunting buying opportunity.
In addition, the recent disk in the index diving phenomenon occur frequently, often after a wave of rapid decline, the index has once again been a strong buying pushed up until the closing. This day, and then pulled Xi Pan phenomenon, which he explains the anomaly of funds outside the comfortable, down to become the best time to approach to buy; other hand, it shows pulled in a row, the market realized the pressure gradually increased, more What is worrying is that this "diving, pulled up" phenomenon has occurred many times will enable investors to gradually become insensitive to the kinds of acts of state of mind, forming a kind of inertia of thinking, but once spread this way of thinking, the real the advent of the adjustment will not cause the slightest attention.
