Category: Money tips Release Date: 2007-01-20
Source: Beijing in the first place
1, Taishiyanpan: shock lower
1, Tomorrow Forecast: shock lower. Monday in the neighboring cities of Shanghai and Shenzhen stock market under the influence, although there ascribed to the momentum, but the shock down to new lows, has become a major trend. Among them, real estate stocks and Beijing, the local unit, a strong rebound in Yao City, and did not change the pattern of yin market closed in the two cities. We believe that, due to two during the period of frequent occurrence in the policy, the broader market there is wide shocks, shocks lower possibility.
2, â‘?index fluctuation range: 2677 point of -2888 points;
â‘?operating mode: Wide shock, vibration lower;
â‘?general trend of focus: property stocks rally to regain it?
3, in the short-term trend: ascribed to shocks. In the banking, steel and many other sections in the adjustments, market sentiment once again boring, during the two sessions, due to multiple sensitive stage in the policy, long-short the two sides are not easily attacked, but an active market funds, short-term objective for us operation to provide better opportunities.
Second, the broader market weakness Put trying to flaunt
Monday, Shanghai and Shenzhen in the morning after opening, it shocks higher, after the Shanghai Composite Mogao 2858 points, but it turns down, all the way down, Yao City in real estate stocks and Beijing led by the local unit strength, there a rally. However, while A-share market stumbled lower, but the warrants market was very different. To Maotai JCP1, China Merchants Bank CMP1 and as represented by Haier JTP1 put warrants, but the disk shone unusually strong trend.
Substituting Baotou JTB1, Maanshan Iron and Steel CWB1 and Steel and Vanadium GFC1 as represented by warrants, but the disk is in decline precedent. Can be seen in the warrants Warrants Market varieties obviously broader market, stocks and other factors are the existence leverage. Monday the broader market weakened, put uncompromising stand is the result of the above factors. In our view, to (580.99 thousand) as represented by Maotai JCP1 put warrants is expected to continue active and strong.
First of all, there is return of capital in the market warrants a possibility. Shanghai and Shenzhen stock market last Tuesday under the influence of bad rumors, marking the biggest decline in nearly 10 years, the two cities and more than 800 individual stocks lower limit, warrants most of the lower limit, while the put warrants under the action of the leverage effect, there has been sharp rebound opportunities, but the next three trading days warrants that the warrants in the steel out of a rebound under the leadership of the trend. After simple statistics, the Shanghai Composite fell 5.57% a week, Shenzhengchengzhi fell 7.57%. Average daily turnover in the two cities 1,500 billion yuan, average daily turnover of the C of E 22.8 billion, compared with the previous week, the market traded funds warrants jumped 70%; the same time, accounting for stock warrants traded turnover is gradually increased to 23.1% last Friday This fully shows that turbulence in the stock market is wide when the volume warrants began to enlarge, warrants became active species. From the above perspective, we can see that there is return of capital in the market warrants a possibility.
Second, the broader market, stocks are down to the appropriate put warrants opportunities. Stock market movements are often associated with warrants market, there is a high degree of relevance. When the stock market on an upward trend, if the class warrants to subscribe for stocks with a strong trend, then the warrants would constitute a line of its right to raise the value, so warrants market, the warrants will be the performance of active and upbeat. On the contrary, when the stock market going through an adjustment or down trend, if the class with a put warrant stocks are also going through an adjustment or down, or even to fall on, then put warrants will directly stimulate the explosive rebound, and is likely to continue strong. Such leverage is not only in the stock market and the warrants market are frequent, but also institutional funds in the two markets, the inevitable trend in the pursuit of profit. At this point, suggest that investors should pay close attention to the intrinsic relationship between these two types of market power. Of course, for the upcoming launch of stock index futures market, there are also a high degree of correlation with the stock market, suggest that investors in the investment process is also paying close awareness of and concern. Monday, the entire market's decline affected the China Merchants Bank, Qingdao Haier and Guizhou Maotai, etc. Underlying the trend, but shares fell more than is no doubt bring a corresponding strength of put warrants. Therefore, from this perspective, we believe that put warrants and underlying shares in the broader market amid the shock, showing potential outbreak.
In addition, individual put warrants a "end-round effects", will stimulate other put warrants surged. Shanghai market JTP1 expire on March 6; Baotou Steel's disc warrants will expire on March 30, the last trading day March 23, the put warrant is exercisable at a price of 2.37 yuan. As of the end of February, Baotou JTB1 with the intrinsic value of 3.55 yuan, while the CCS is an extremely price JTP1 outside the warrants, but only 0.537 yuan a share price and a small number of warrants, will be the focus of guerrilla blocking of funds object.
In summary, we believe that put warrants is expected to show a good deal of opportunity. Where (580.99 thousand) Maotai JCP1 is expected to stand out from the put warrants. The warrant since listing, has hit a record low. At present, the warrants from the low heavy volume department, pulled up sharply explosive unusually strong desire, once the heavy volume significantly blowout is imminent, is expected to bring the two cities put warrants mounted a significantly stronger.
