Current s walking shadow of the three cows Money Tips

Category: Money tips Release Date: 2006-04-19

Of the stock market this year has been a lot of people call it a bull market. Although this road is that he is to take the step by step look at the way the careful, but do hope that this bull market really into. After all, as the stock market investors, there is no one willing to work with money to make life difficult, since the bull market will give investors make money effect, and that "what music without cattle" mean? However, the saying goes, "The future is bright, the road is tortuous."

This bull market's footsteps, sometimes walking disk limp, and sometimes shadows hand in hand, and is pretty scary for investors. This does not, early this month when a giant Yinxian in the sky beating down, the obstinately investors to get on the ground playing point of view of the bull market. At present, Shanghai stock market hit a record of 11 with yang trend, once again pushed the index to the previous high, while once again put faith in the bull market pull. Of course, after this 11 Lian-yang, especially in the index was once again getting closer to the early high point when due care is essential, after all, the current bullish stock market still has three shadows hand in hand.

First, the initial public offering Gaokaidizou. Quotes whether to take a cow, the trend of new shares should be a test of one of the criteria. Generally speaking, in a bull market expectations, the shares opened higher on the trend of mostly high-walk, or even higher straight. Successful applicants not only to get high returns, that is, the secondary market to buy who can also get a certain return. However, the stock market a few new listings on the stock point of view, basically Gaokaidizou, although a substantial profit the market in the ballot, but the secondary market has been more difficult to follow up on those profits, or even the majority in the lock-state. Such as the work of international, although the market has been sharp the first day of speculation, but its approach is a typical bear market mentality. First getting goods, and then dramatically pulled the last to fall even lower limit of the method to ship. Those in the secondary market to buy those chasing high Basically, in a stuck position. Datong Coal Industry Again, although no sharp stock speculation, and no listing of the crash, but were basically stuck with buying on the first day. Coship the relative movements of Yunnan Salt better, but both are Gaokaidizou listed on the first day, chasing the high that day to buy those, in the ensuing rise in the past few trading days, it is still not completely loosened. Therefore, from a few post-IPO performance, investors expect the bull market is not particularly strong, on the contrary wait and see the atmosphere is very thick. In fact, when the market is really in a bull market, especially when the big bull market, this situation is rare, and investors rushed to buy shares is often the personal danger, for fear of missing a good opportunity to buy shares.

Second, the funds keen on "playing new shares." "Playing the IPO" is clearly a defensive investment. Although the playing of new shares can earn risk-free or low-risk-adjusted returns, but returns to say in general it is not high. In fact, if the stock market is really bullish, then the secondary market investment returns will far exceed this "shake shares" income. For example, in the first five months of this year's rally, many partial stock-based investment funds, the rate of return in excess of 50%, while the proceeds of such apparently "shake IPO" could not shake out. Therefore, if investors are really optimistic about the current market, the development of Quotes holding bull market expectations, then they should put money into the secondary market, rather than shake shares. But the reality is not the case. If the time of purchase, CAMC, CITIC Securities to spend 35 billion yuan, the National Petroleum yuan securities and financial companies were also out of 14 million and 900 million yuan. Datong Coal Industry in the time of purchase, only Baosteel Group on the total cost will amount to nearly 30 billion yuan, Shanghai Automotive Group Finance Co., Ltd. and Shanghai Electric Group Finance Co., Ltd. has also spent 1.5 billion yuan of funds for online purchase. As for the recent release of the Bank of China, only offline placement part of the inquiry, there is extensive outsourcing strategy optimization Fund, CNOOC Finance Corporation, the China Life Insurance Company out of the 6.3 billion of their funds, pay Bank of sound Allocation Fund Schroder has also come up with more than 50 billion yuan of funds participate in the competition. So, faced with institutional investors huge sums of money should be used "hit new shares," it is difficult to say that these institutional investors bullish on the current Quotes of the bull market have much faith.

Third, the 2006 semi-annual results of listed companies will be substantially reduced. Performance of listed companies is to support the company's share price basis. However, the present time and has entered the 2006 semi-annual disclosure period of time, so in this period, the development of stock market performance of listed companies can not but be affected. But the performance of listed companies is undoubtedly the most current Quotes felt guilty conscience, because its performance of listed companies since the middle of last year's turning point appears, the current performance of listed companies is actually in a downward trend among the / last annual report of listed companies The results appeared in the first decline in recent years the annual weighted average earnings per share of listed companies to 0.22 yuan, down 7.88%. Enter the first quarter of 2006, this decline significantly faster performance, the data show that in 2006 a weighted average of listed companies quarterly earnings per share were 0.057 yuan, down 18.57%. And this downward trend in performance from today's semi-annual report will be continuity in the southwest of securities Zhang Gang and even predicted that 2006 performance year on year decline in semi-annual report will reach 30%. Although the forecast is not necessarily the end of the actual data, but the current performance of mid-year report published notice of a listed company point of view, reporting only bad news than good news obviously.

As of June 28, Shanghai and Shenzhen A total of 349 companies released in the first half results notice. Among them, the pre-increase, Yu Ying, the company's turnaround and reduced deficits were 95,25,27 and 6, four together, the pre-hi a total of 153 companies, accounting for results published notice of the company's 43.84% Number; At the same time , pre-cut, and Pre-losing companies, respectively 150 and 46, early warning, the company total 196, accounting for 56.16%. Although the pre-hi and warning the company's number of contrast and overall performance of listed companies, there is no logical necessity, but the previous periodic report, the disclosure of results show that the performance of the type of notice distributed and is indeed a performance increase or decrease the current period changes in vane. Therefore, from the experience point of view, in the first half-year performance decline appears more likely. It is precisely because of this, the pace of the current bull market could Quotes solid, which can not but pay more attention to the investors.