Yesterday said China Southern JTP1 Possible trend: 0.20 yuan on Tuesday, 0.08 yuan on Wednesday, rebound on Thursday, and return to zero on Friday. Yesterday, China Southern Airlines JTP1 really closed at 0.21 yuan, which is only one point away from 0.20 yuan. If it happens that the bottom is 0.08 yuan again today, investors may wish to pay more attention, but the attention is OK, and buying should be very cautious.
It was not only China Southern Airlines JTP1, but also Shenzhen Development SFC2 and a large number of stock warrants that followed the sharp fall of the market yesterday. Some people said that the sharp fall of stock warrants was related to excessive speculation in the early stage. This is true, but the increasing disappointment with the future market is also an important reason for investors to abandon stock warrants.
Take Shenzhen Development as an example. Yesterday, Shenzhen Development fell by the limit of 22.28 yuan, down 2.47 yuan, while Shenzhen Development SFC2 fell by 3.094 yuan, closing at 6.956 yuan. Even if it is a limit decline, Shenzhen Development SFC2 still has a 16.5% premium over Shenzhen Development. That is to say, if investors' expectations for the future stock price trend of Shenzhen Development turn to decline, Shenzhen Development SFC2 still has more than 3 yuan of decline space. According to the exercise price of SFC2 of Shenzhen Development Bank, 19 yuan, the intrinsic value of SFC2 of Shenzhen Development Bank is only 3.28 yuan at present. This is also the reason why investors sold SFC2 on a large scale yesterday.
Not only SFC2 of Shenzhen Stock Exchange, but also many warrants currently have high premium rates, which can be better explained in the rising period, but in the falling period, the investment value of warrants is greatly discounted, and the original high rising water needs to be reconsidered, which led to the collapse of warrants yesterday.
Therefore, the expectation of future market has become an important judgment for investment warrants. According to experts, the policy of raising the deposit reserve ratio has been used many times, which has inadvertently brought a huge blow to the market. This is not to say that the negative effect of the 1% increase is stronger than before, but the current market is extremely fragile and can not digest any simple negative effect.
It may be OK to hit a strong person with a fist, but if you hit a dying person, you may kill him. The key point of the current market is not how powerful the fist is, but investors generally find that the original market has been dying. This will lead to killing more, unless a powerful external force saves this dying market.
