Category: Money Tips Date: 2007-05-25
Indicators Unit each line a dramatic drop in turnover of its road
Moderator Lei
Guests Everbright Securities Zhu Haibin Zhu Handong Wuhan Rand
Moderator: Although the market closed yesterday out of Yang Xian, but Yang Xian entities and Liangnengpeihe obviously incompetent, especially the market two vane --- Sinopec and G the trend runs counter to long-electricity, and more reflect the current market capitalization of the differences, thus makes the tape in the near future to increase the probability of the formation of shock movements. Short squeeze up the process of pre-tape, board, stocks Lunzhang signs of obvious profit opportunities to get involved somehow, but the broader market shock process, the polarization of individual stocks will be more apparent, it will undoubtedly be to increase investment those operations more difficult. So in the current volatile trading in, what kind of investment strategy is best suited to it?
Adhere to the industry leader-band operation overweight
Everbright Securities Zhu Haibin: This week has been the trend correction A shares, partly because of higher pre-market after the technical adjustment of the pressure facing the other hand, a year ago, corporate strategies of the high degree of agreement restricted the scope for higher short-term market. We believe that the current market is a market in which the adjustment more normal adjustment required to run their own short-term results will be faced with a number of factors and uncertainties, which would result in pre-holiday after the holiday for some time, sideways trend, But this year's operation of the market view of the larger environment, A-share market overall trend in the right direction. It is proposed that investors in this adjustment period, the main strategy in order to band operations, adjust the position stocks ahead of the industry involved has not yet share reform leader. (Hot spots popping up everywhere the opportunity to keep stocks! Send SMS: YXGB, move to 2.9116 million and China Unicom to 9.9016 million. Will be able to access to our selection of a Stock! Tariff is only 0.3 yuan.!)
Since December last year, indexes all the way up, after another six months, line break, the annual pre-1223 lines and high points, from a technical perspective, the market's continuous short squeeze up, it has become a bargaining chip since 2002 intensive areas, which is technically required to Dressing appropriately to carry out the full chips changing hands. In addition, a number of investment institutions years ago, released 2006 annual investment strategy, focus will be run throughout the year high point of the region identified as the 1250-1300 line. The rapid rise in just one month, has so many organizations to achieve their own expectations, so that only the surplus generated impulse.
The performance of listed companies in 2005 and the first loss the number of loss-making companies more than in previous years, the overall performance of listed companies declined year on year it is a fact, so with the approach of the annual report, which is expected to have a negative short-term market trend is bound to bring a certain extent. Jin Liangri disk shows the mainstream of the current round Quotes weaker sections have also meant that the experience of broad based, the afternoon will be inevitable trend of differentiation of individual stocks.
It is against this background, the band is still operating on funds adhere to the tenets of the mainstream. So, in terms of the investment strategy, suggest that investors in the current market correction, it is necessary to the performance as the yardstick, the initiative to adjust positions, reduction of more profitable chips, especially the bleak outlook, the lack of performance support variety.
In 2006 China's capital market is a complex transition phase, although a variety of investment opportunities will continue to emerge, but more investment is based on the theme of diversity. If investors can not conduct in-depth fundamental research, it is difficult to grasp the pulse of hot trend, or even to walk past the old path of speculation. So, at this stage, from the sound perspective, the decline in the overall performance of circumstances, not stock reform of the industry leaders has become a candidate for a better variety of positions.
From the fundamentals of view, has led the industry leader oversold levels were significantly lower valuation, the latest statistics show that at present some in the H-share market and the A-share market-listed shares at the same time, its share price is already very close, some individual stocks have even emergence of the "inversion" phenomenon. If we add the stock to pay right price change factors, as well as in corporate governance norms, equity incentive and equity capitalization of the background, the industry leader in the investment value will be more apparent. Fully tradable, these industry leaders are also more easily be classified as major mergers and acquisitions, major restructuring of the preferred object, so a certain extent, these species will become a scarce resource.
This year the overall market trend is still to improve, there is no longer the beginning of last year's "cycle of restoration" Side come and gone. Therefore, the callback in the market poised to process, suggest that investors recognize the Quotes main line, take the initiative to adjust the position structure, reduction of underperformance varieties, overweight industry leader for years to make early preparations Quotes.
Short tone is not over yet absorbed the central line varieties
Wuhan Rand Zhuhan Dong: From the form of point of view, the Shanghai Composite has formed a clear sign of a phased head, a strong rising trend has come to an end short squeeze, high vibration pattern of stock market outlook is running to become the main trend.
It is a normal trend occurred in the broader market. Stock in December last year, low-touch-point rise since 1074, the Shanghai Composite cumulative increase has been quite considerable, and in a strong market trend has been running, there was no increase callback too deeply. Therefore, beyond the previous high, the stock adjustment pressures have been very large, but also from the wave theory of operation analysis, stock index rose after the formation of a continuous wave of a visible rise in waves, and in this wave of increase in wave height of view, already had wave appears to adjust the internal needs of a wave. From the Japanese K Line diagram point of view, the Shanghai Composite in the below 5-day moving average, the adjustment of the trend has been very clear. However, Zhou K chart perspective, the benchmark Shanghai Composite Index remained above average in the five weeks running, average characteristics of the system to maintain long array, and therefore long-term trends point of view, an appropriate adjustment in the benchmark Shanghai Composite Index is still a new round of upside potential, At present only a phase adjustment.
Hot from the market point of view, the current round of Quotes from the investment fund, QFII, the mainstream of social security funds and other funds to start, and therefore a larger target market value of shares to become the backbone of the current round of Quotes. Sinopec shares of leading indicators in the opening years of income out of a Yang Xian, the stock price has gradually dropped to near 20 day MA, and high shock a few days. Sinopec as the market benchmark, the overall market started its first adjustment, fully shows the pressure of running a high current index has gradually emerged, adjust the trend has been inevitable. The market also appeared on the hot spot in the conversion gap, non-ferrous metal plates in a continuous rise, the cumulative increase has been very substantial, investors chase the enthusiasm has clearly weakened, profit-taking pressure is also very clear that the positive impact of the market outlook, will gradually be transferred from the air. The market did not have great expectations for technology stocks took a successful multi-baton, the potential for the continuing rise is not enough to play the role of the main force in the market.
The operation strategy, short-term adjustment due to the current broad market has not yet ended, the main varieties of pre-or larger, there is still room for downward adjustment. So for cumulative increases in larger stocks lucrative profits to be as early as possible, to avoid short-term risk. Tuesday intraday activity times of adversity ST plates, indicating that the mainstream financial silence, the market resurgence of hot money has a tendency to pay more attention to short-float market capitalization is too small, the small-cap stocks have a certain subject matter, but in operation we should not over-chase, so as not to become the main rallies distributed objects. For the fundamentals of good, good and growth of the fund holding, the trend also appears when the advantage of the opportunity to adjust the trend of decline, resulting in a better buying opportunity. Investors can invest from a value perspective, selection of individual stocks bargain-hunting, while the upside potential of these species have the central line, in the afternoon should have room to rise further.
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