Category: Money Tips Date: 2006-07-07
Diving, with investment fund, QFII fund agencies, led by rapidly growing strength of the stock market has been Zhuanggu institutional era of transition times, these "regular" practice in marked contrast to the past Trader banker, the banker familiar four-step hype song: smoke chips, Zhen Cang, pulled up, distribution no longer meet the current market. In the main has been Bianzhao circumstances, investors should be "the enemy and change change" before being invincible.
First, the variety of investment point of view, the main part of these new "Ming Zhuang," a large quantity of funds, with strict risk prevention measures and internal control system, less likely to choose illiquid small-cap stocks, stocks with poor fundamentals of the underperformance , but rather mainly from industry leading stock excellent performance of large cap stocks, is in the recovery cycle of the economy class to select individual stocks, the main force of the main species from the recent Baoshan Iron & Steel, Shandong Aluminum Industry, Qilu petrochemical stocks can also be seen that plate large, blue-chip is a necessary condition for the new main phase, and then insist on Zhuanggu time stock picking ideas have become outdated.
Secondly, from the concentration of funds perspective, the basic take such actions as the main advantages of the new forces to fight a campaign of annihilation way. The positions can be seen from the Fund, the Fund's positions much higher degree of concentration, many of the Fund will "treasure" Awkwardness charge of the top ten, this led to restructuring of the two cities share more and more intense, rising stocks and falling the proportion of individual stocks by the "28 phenomenon" becomes "19 phenomenon", the main attention of the stocks by the new strong Hengqiang, all the way up, without the stocks being the main care of the weak constant weak Yindie beyond.
Again, the degree of control on individual stocks, the new main does not seek to rank individual stocks Kong Pan, but by the number of the main force to push. Similar to China Unicom, Sinopec like large cap stocks, and no institution Kong Pan, but the stock still rose more than because of such stocks to obtain recognition of numerous agencies, only the funds involved in China Unicom will have four, 50, This makes "Many hands make light," while volatility will be more intense. The traditional Zhuanggu are basically one or two big village Kong Pan, easy to be independent Quotes.
Finally, the "accumulation, Zhen Cang, pulled up to distribute" a four-step is not suited to the new song has been the main operation. At different stages in the accumulation of the main cost of admission is not the same. In the pulled up phase will frequently have a sense of making cleaning Fu Chou, but the new main is not afraid of people to follow suit, as long as that does not deviate from the value of shares, it is possible all the way to do more, such as the recent Wuhan Steel shares of Shandong Aluminum, almost non-stop climbing The dealer pulled up in marked contrast to the previous approach. In the shipment stage, a traditional Zhuang Gu, once the main shipments rose to high, it may go down a long, long time, people will not touch. The new main intervention stocks, several situations may occur: 1, as long as the price of a major departure from its intrinsic value, the original main institutions are generally not eager to take profits, while shareholders may be taken long-term strategy; 2, the main body may take band operation strategy, to honor some of their profits high, but wait until the price dropped to a relatively low once again admitted; 3 of the same individual stocks, there may be one of the main exit of the main re-Jiancang that the new phenomena, such as the first half of this year significant increase in car plate, after some of the main cash profits did not lead to stock price fell sharply, which may be re-admitted the main force of the original, there may be a new re-main optimistic about its prospects for the development Jiancang. Zhuang Gu fried an era of banker threw a monkey-style corn speculation Breaking approach may no longer popular.
