Category: Money tips Release Date: 2007-07-28
Big bull market Chanting "death does not sell," adjust the city crooning "dead must sell", the new investors to stocks roller coaster ride of the back
Do not invest in hybrid multiplication and division operations to add and subtract
Core Tip
"Dead must sell, do not retain the profit was not amused, I'm still making destruction." Recently, investors in the new popular songs, "dead must sell", revealing the bull market investors face a major adjustment panic. In a month ago, the new investors will be able to readily caught a limit-buy. At that time the hottest songs are "dead, not sell," which sold 18 million yuan in the first rumor expensive songs, told shareholders, "died not sell, do not give me double the unpleasant, and we retail only by doing so will not be defeated. "
In fact, in the "dead, do not sell" dead bull and the "dead must be sold" between the death of short, more frequent entry and exit of the investors and bargain-hunting those who fled to the top. However, even the top of the hill to escape from the great bull market of the master, and ultimately it is often nipped in the rebound of the mountain. In the fall of the current round of bargain-hunting by repeated adjustment of Quotes, the hidden drastic changes in how the investment philosophy, this paper tried to pry a little clues.
But there are still below the cellar floor,
"The new investors rebound? Grab junk stocks is simply seeking death, others would like to intercept all no stopping!" June 8, the stock market speculators Wu Zong, who earned in the stock market more than 1 billion investment in master, in the closing Comments afternoon after the trend with respect, like Guoxiang several thousand times price-earnings ratio of shares that the underperformance shares, rose up and was blind up, up and down is also a plunge.
Benchmark Shanghai Composite Index on May 29 Mogao to 4335 points, and begins a substantial adjustment to June 5 fell to a maximum of 3404 points. However, the subsequent rally was unexpected, the highest benchmark Shanghai Composite Index June 20 rose to 4312 points, it seems high to rewrite history at your fingertips. During the rebound of a lot of people to join the ranks. Shuiliao despite drastic changes in an instant the Shanghai Composite July 6 briefly dropping as 3563 points, seems to play roller coaster stock.
And the index of Shangcuanxiatiao different, a lot of the stock is sitting slides, if they had have only down a path. On a rally June 19 to reach high into the second week, the Shanghai Composite fell 8.73%, however, been the depth of the rebound of investors stuck with. According to Wind statistics show that in the 20 trading days, there are 29 stocks fell Yusi Cheng, Yu Sancheng decline there are 229, or more than 2 percent of a 773, a total of 1116 stocks underperform broader market. Guoxiang, like the closing price of shares will be from June 8 to 8.5 yuan, fell 5.87 yuan yesterday.
Chen is the May 24 rookie investors enter the market, the stock market was 10,000 yuan of funds. "Someone asked me to buy Maotai, paying the money can not buy my first-hand, you tell me how to play."
A result, he price of 7.5 yuan to buy a cap, lower î•?ST Dan of 1000 shares, really caught a limit-board, enjoying a moment of happiness bull market. However, from May 30, the stock began to limit down, has been dropped stabilized until June 8. He was 5 yuan to buy 400 shares of the money and rebound in order to spread low-cost, the results of yesterday's closing stock price is 3.34, a reckoning of wealth has shrunk more than half.
As the probability of losing money too, like Chen to buy such a bargain-hunting even more stuck on the quilt of investors everywhere. Injury of the investors had begun to spread messages laugh: "I never expected that the basement floor, copied, copy the basement I never expected that the cellar, cellar I never expected that the crust copy, copy the crust did not expect that there is hell, hell killed copied hell did not expect even further there are 18 layers. "
Law makers will ship this fall do
"Like Dan î•?ST successive lower limit of this way of making sure that the inside cover, some have not yet shipped." Chen has time to liquidate some people have advised him and let his mind at ease in point. However, the bookmakers still really do?
Shenzhen large blue-chip investment company's investment director Michael went through the Taiwan stock market by the mad cow to big bear market of the stock market. These trash stocks, he considered that it has shipped more than half of the main.
Michael believes that the Taiwan stock market dealer in a bull market in PLAY and withdrawal process, in a nutshell, "Three Character Classic" - raise, set, kill. "Keep" means that no matter what the stock soared eight-fold the first ten times, and then suddenly three or four limit down, put your trap. The final "kill" is making cash. -Resistant down each time you want to, but has colors.
It is reported that Taiwan's Trader general selection of the total share capital of 200 million shares in a PLAY, during which there will be good news for a variety of re-emergence. If starting from 2 dollars a stock Jiancang final price may be heavy volume rose to 80 yuan, but the total cost of making only 20 yuan. Therefore, when the dealer is usually the first ship smashed into 60. As the bull market sentiment is still deeply branded into the brain and individual investors will actively market rebound, the major shipping method is easy to succeed. In May to June 20 period, a massive amount of junk shares changing hands, indicating a lot of the main has been successfully Duntao.
Michael bluntly, for a lot of garbage stocks, the stock fell by half do not look it, but, from the bottom looking up, making a profit is still huge, every rebound may have been the best opportunity for shipment.
Chief Investment Officer and investment in the letter Tieliang off due respect, is now, in the broad market rally, many underperformance basically do not stock up; a broader market down, it Zapan ruthless than anyone else. This shows that the banker is shipping all costs. On the surface, underperformance as stocks shrink much after the profits, but the heavy volume at a high level when the dealer had a lot of chips out.
To hold-up should be a gold necklace sets
Of structural adjustment in the stock price to continue to deepen the context of the strong Hengqiang pattern of the recent stock market continues to happen. Data show that, from June 20 to July 17, the two cities there are 124 shares are still up, the stock rose more than 58 of them into one. Period, the Fund Zhongcang of White Horse stocks such as China Life Insurance, China Merchants Bank, China Ping An, and Poly Real Estate, or 17.67 percent, respectively, 16.25%, 15.51% and 14.41%.
United Securities researcher Guo Fei-zhou Statistics found that from May 30 to July 6, to adjust the intensity and depth of the broader market is far more than expected, adjust the structural characteristics of relatively clear and rational - the worse the performance, or more ruthless, the basic line The higher price-earnings ratio, or the larger pattern. For example, fell more than 50% of the 188 shares of the total number of samples of 13.7%, after its fall, the average price-earnings ratio of 121 times 2007 forecast earnings ratio of 87 times, apparently low-profit stock; decline in the 20% ~ 10% relative defensive stocks, with an average price-earnings ratio of 74 times forecast 2007 price-earnings ratio has fallen to 44-fold.
Guo Fei-zhou view, a 300 constituent stocks, represented by Shanghai and Shenzhen, accounting for more than 70% market share of blue chip, blue-chip stocks in the Shanghai Composite 3,800-point level roll-forward 12 months predicted price-earnings ratio price-earnings ratio as well as the 2007 levels were reduced 33 times to 29 times or so, with a considerable margin of safety. More than 1400 companies from the average of 70 times earnings, the market structure adjustment and not fully in place.
"From the internal economic drivers, valuation, capital, factors such as behavioral finance point of view, the trend of RMB appreciation will not change, the duration of the bull market will be much longer than we thought. In the foreseeable future, every drop should all be buying opportunity. "researcher Wang Guotai Junan that the short-term is not optimistic that the third-line stocks, the trend with the accounts, are highly correlated. Only a few pick-up accounts, third-line stocks as a whole have a chance.
According to China Securities Depository and the company's data showed Monday, Shanghai and Shenzhen cities of new A shares account number 72784, which is May 28 of 385,302 is quite different. Wang said that the third quarter, broader market shares there are many opportunities to Whitehorse, in the fourth quarter high-quality opportunities for third-line stocks where relatively large.
"In a bull market rebound, even quilt, it should set of gold necklace." Guan Tieliang that in the stock market crash, the decline in the stock, there are two: one is cast aside by the market shares of these stocks may decline is no longer look back; one is the market victimizes stocks, such as stocks fundamentals victimizes not sure, do not intervene.
Quotes will not appear again for the kind of crazy
Today's winners may be tomorrow's losers, this may be the law of the stock market. However, like the Shenzhen and Shanghai stock markets this year, such a sensation in the first half of garbage stock market, will repeat itself?
"In the next three months, the Shenzhen and Shanghai stock markets will be wide of the shocks to the in-depth development of structural adjustment." Stock market speculators Wuzong that, although the pattern of the great bull market has not changed, but in the years when the index crossed the 5000-point , over Qi Cheng's shares will not share the fruits of a bull market. Trash stocks led by the retail boom market, in the first half lasted four to five months, this may not be made Quotes.
Wu Zong says that in hundreds of underperformance as stocks there might be the story of black-bone chicken become the Phoenix, but it was only Ali Baba and the Sishitaidao against gambling games, the last most of the individual is being held in caves can not get out . "Investors must look for certainty in earnings, we have been doing addition, wealth piled up before. If it is to add and subtract mixed multiplication and division operations, end up becoming poorer and poorer."
Guohai Institute of Fine Teng Chung, chief strategists believe that the short-term due to high cost of ownership, the Hong Kong penny stock phenomenon will not appear in the A-share market; however, in the long run, but the general trend. With the funds and other institutional investors, brokerage growing, with the return of red chips, investment and cultural change will be rational investment, individual investors rely on to do more junk shares of the Fund's crazy to overcome a collective phenomenon, it will be difficult there. Those who have been stuck in junk bond investors, the best way out is to choose the exit.
