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Data:2009-12-12 2:34
Recent Hong Kong stocks volatility, fluctuations in the lack of direction --- 18600 points, the Hang Seng Index to find support, but then rebounded on the 19000-point level appears to lack motivation. State-owned enterprises in the oil index (0857.HK), led by record high, but the hottest line-funded financial stocks as a whole the trend is still consolidating them.
If it thinks that the recent turmoil Hong Kong stocks in the large Shenglang a health-adjusted later will be able to regain upward, in market strategy, how we are going for a potential new rally well prepared?
Some people think the market is unpredictable, warrants more time-sensitive investment products, it is inappropriate to look too far ahead, the estimated spending too much money chasing to be a good situation to buy time to recover is always put the most effective intervention strategy. But some people think that to win more and win exciting, it must be abandoned as I prefer the static to consider switching realm. The following test these two strategies used in the real case, when the stock is expected to break through a resistance after the outbreak of a new one have the opportunity to rise strongly, strategy can be refer to the following two kinds of deployment:
The first strategy is to take advantage of its ordinary shares during the period of consolidation prepare to deploy. First hypothetically holds warrants, waiting for the stock rally started. Underlying the success of a breakthrough due to resistance until the stock is likely to render the first transverse pattern, so warrants selection strategy should be based on medium to long term, slightly out of the money, and the low implied volatility-based subscription card.
To choose a more long-term and warrants a lower implied volatility, because no one knows how long it is rampant Unit requires a breakthrough, but in order to reduce the investment during the period because of the time value and implied volatility down the negative impact brought about, so choose long-term and the lower implied volatility of warrants will be more appropriate. For those who choose a minor outside the permit price is that price leverage is generally higher outside the permit may also permit higher prices to make up a long-term problems, investors may be less money involved in capturing the underlying shares increase.
The second strategy is the consolidation of uncertainty is how long the unit would require a breakthrough in the case under the city to take a breakthrough sale. This would be a prudent and very effective strategy, stocks are temporarily on hold before the break through resistance, awaiting the moment of resistance before breaking stock market to recover to buy, in order to capture the underlying shares that may arise from a more lasting and significant reduction in l waves, to achieve "issued after the rock" effect; and when the stock fell back to resistance are under the false break occurs when the signal is the implementation of stop-loss.
With this method has the advantage of being unit without paying attention to the need to break through before the consolidation time, will be exempt from holders of warrants and the time constant drain on the value of the daily losses caused by the book. If the wrong direction, are shares dropped to resistance to make stop-loss, the loss can be controlled within; if chase after breaking into the stock, option, the short-term price outside the warrants, whichever is generally higher leverage, to capture a strong uptrend.
