Category: Money tips Release Date: 2006-12-09
Source: Guangzhou Bandung
Abstract: The market is broad based, the pattern, but no significant main hot spots. Survey, Liu Cheng investors optimistic and upgrading of this sentiment has a positive effect. In such circumstances, the Fund will be led by a change agency funds early passive style, and strive to become masters in long pioneer do?
Game Analysis
A) the main and policies of the Game:
1) The situation of optimism sector capital is expected to become masters: Last weekend, the central bank resorted to a rare combination of punches policy, announced the May 19 rate hike on June 5 raised the deposit reserve ratio. It should be said that the regulation in terms of A shares is a double-edged sword, on the one hand is a test of A shares, on the other is for A shares has left a relatively loose regulation of the pressure of time. Judging from the current market performance, is clearly an element of the latter more.
In addition to relatively lax regulation of the pressure outside, many investors are optimistic but also conducive to the further development of Quotes. According to the China Social Survey by the (SSIC) survey showed that almost the interviewees expressed concern about the stock market in peacetime; there is no intervention of the respondents, more than three percent of people have the intention of the recent market. For the afternoon's view, the respondents of the investors, said Liu Cheng has more than optimistic about the situation.
In such circumstances, the Fund will be led by a change agency funds early passive style, and strive to become masters in long pioneer do? Column that the Fund Awkwardness in the past performed poorly in a period of time to withstand the greater pressure in the market and continue to innovate and do more in the case of high power should be greatly enhanced. First, in the operation strategy report, an increasing number of institutions to maintain the perspective has shifted from the pre-cautious optimism, they say, the market belongs to a structural foam, the core is mainly blue-chip growth is limited, the valuation is still relatively reasonable, and thus stabilize the market's center of gravity.
Second, the new fund issue rate has slowed down significantly. According to statistics, in April there are five newly-issued Fund and the four "Feng Zhuankai" fund, the total raised reached 71.69 billion yuan, since May of this year, there are already three "Feng Zhuankai" fund the completion of distribution, raising the size of total about 300 million, plus being raised funds with a total size of not more than 50 billion yuan. Therefore, the transition towards sustainable marketing as the main exit of the Fund. However, to do this only by good growth in net worth, or would have been even greater redemption pressure. Under such circumstances, the funds and other institutions to do more to become the best choice of funds.
2) The agency will choose what types of funds: Synthesis and comparison of major corporate strategy, we discovered that there are some things in common. First, from the subject point of view, the central enterprises to restructure the main theme of the acquisition until a high degree of recognition, they believe the market is currently in the value of injection stage, and the resulting growth in exogenous cause for concern. Secondly, from the perspective of the industry, medicine, machinery, chemicals, building materials companies in four industry is the largest pre-increase; In addition the financial, real estate, consumer and equipment manufacturing industries are part of long-term growth industry.
Position of funds from institutional changes in perspective, one-quarter positions in big organizations, individual stocks rarely overlap, they showed a serious divide individual stock selection situation. In this case, if the agency funding the initiative to do, the market is bound to show more flowering characteristics. However be noted that the recent position taken place institutions some subtle changes in position on the distribution of the scattered distribution from the industry began to have long-term investment value of the core of blue-chip concentration. In other words, less money or too much on small plates sought after, and turn to have the core of blue-chip support for long-term performance.
In response to this situation in this column that the current big city should continue to blossom more mainly because it occupies the retail distribution market is still keen Liu Cheng Low themes speculation, while institutional funds shrink front should also have a process. However, the hot spot to the core of blue-chip transfer should be a trend.
B) the main financial Game:
Taking into account the index is at a relatively high level with the upcoming stock index futures and other factors, some of the main body throw some of the lucrative chips to lock in profits, or to shift the focus of configuration varieties of higher margin of safety, but the overall position has also been a relatively early stage decline. New funds, although some species have begun Jiancang, but the intensity Jiancang not. In general, agencies have taken while walking to see, The Hills view of the cautious strategy of fighting tiger, even in the heavyweight competition, the same is not deep wading.
3) between the medium and small retail game:
Proposed to focus on the texture of a good investment in M & A unit, or a lower price-earnings ratio of second-line blue-chip. For the short-term performance gains without the support of individual stocks is too large, you can consider progressively lighten up.
Disk X-ray:
Shock is expected to rise tomorrow.
The opportunity to plate is expected to:
Concerned about the relatively high margin of safety recommended varieties, such as the concept of the new accounting standards and assets into the plate.
Market Risk points:
Short-term or excessive stocks, pay attention to out rallies.
Protection measures:
Proper control positions.
