Mysterious funds come back from the dead in two cities

The A-share market showed a miraculous trend yesterday. The Shanghai Composite Index reached 2541.52 points in the morning due to the diving of the first tier index stocks, steel stocks and other early mainstream sectors. But what was unexpected was that the financial stocks among the first tier indicator stocks turned around miraculously after the afternoon market, Huaxia Bank 、 Minsheng Bank It also impacted the trading limit board, causing the Shanghai Composite Index to rapidly reverse, reaching 2677.04 points higher and closing at 2675.70, the second highest point, up 63.16 points, with a daily amplitude of 135.52 points.

　　 Mysterious funds pull heavyweight stocks

Although the Shanghai Composite Index also staged a surprising reversal trend in the early stage, yesterday's surprising reversal trend was Wuhan Iron & Steel And other early mainstream sectors Industrial and Commercial Bank of China It happened against the background of the continuous decline of front-line index stocks, and also against the background of the continuous adjustment of the market index and the important psychological threshold of breaking through 2600 points. Therefore, the insiders are more willing to consider the source of power that drove the reversal of the market yesterday from the perspective of "mysterious funds".

However, according to the relevant information of the media, "mysterious funds" are not mysterious, because the newly issued funds in the A-share market have not yet entered the stage of large-scale position building. These new funds have always been regarded as the most powerful backing for bulls, and also the most mysterious bottom card for many parties. According to media reports, Zhu Xiaoming, Deputy Director of the Investment Department of China Overseas Fund, revealed that he began to increase his position on February 2. This shows that with the first tier index stocks and some steel stocks that took the lead in adjusting, more than 30% of the previous peak has appeared, new multi funds have poured into the A-share market, and the trend of reversal of the same day appeared yesterday.

　　 Short term reversal

　　 The question now is, will the market continue to reverse? In this regard, industry insiders have great differences. The cautious view is that although there was a reversal trend in the market yesterday, it means that the market has encountered strong support near 2500 points. However, after all, after the risk education brought about by the early adjustment, the market's enthusiasm for pursuing the rise will be greatly reduced. At the same time, the early adjustment is like a basin of cold water, cooling the market's interest in the overvalued growth stocks. For example, the decline of high valuation stocks such as Emeishan and Guizhou Moutai shows this. Therefore, it is only possible to rebound rather than reverse in the short term. Optimists believe that with the establishment of new funds, the reversal trend of the market is likely to turn into a reversal of the market trend, and even touch 3000 points again before the Spring Festival.

It can be seen from this that different views have reached different conclusions from different perspectives, the cautious ones from the perspective of leading the market, and the optimistic ones from the perspective of capital. In this regard, the author prefers to be cautious. Indeed, after the education on the risk of decline in the early stage, it is impossible to see the crazy trend that ICBC, Bank of China and other individual stocks can also rise and stop in the early stage. Once the market lacks the cooperation of the strong trend of front-line indicator stocks, it is difficult for the Shanghai Composite Index to replicate the exciting trend of the main rising waves in the early stage.

More importantly, yesterday's reversal did not solve the current problems in the A-share market, such as the overvaluation of the first tier index stocks and the second tier blue chip stocks. The previous decline only alleviated this problem. Once the stock price continues to rise, valuation pressure will appear again. Therefore, the position building of the new fund is also modest, and it will not take a high position building, but may take the possibility of building positions in repeated shocks. That is to say, the reversal of the market yesterday may not bring about a reversal of the trend, but may only change the recent sustained downward trend of the Shanghai Composite Index, and the trend characteristics of box shocks appear. As a result, the market may fluctuate repeatedly between 2600 and 3000 points, and the upcoming Spring Festival holiday will be greeted by box shaking.

　　 Looking for performance improvement stocks

Following this line of thinking, the author believes that the current investors' operational thinking should not try to catch up with the rebound of those first tier index stocks and second tier blue chip stocks. After all, after yesterday's one-day rise, the valuation level of many stocks rose rapidly, suppressing the future rebound space. At the same time, we can also reduce the position of some second tier blue chips with high valuation, such as the wine concept stocks Shanxi Fenjiu 、 Luzhou Laojiao 、 Guizhou Moutai , commercial chain shares Suning Electric Appliance 、 Dashang Shares wait.

At the same time, actively look for investment opportunities brought about by the improvement of the performance of low price stocks at the appropriate time, especially those low and medium price stocks whose performance was expected to lose in 2006 but faced the possibility of performance reversal in 2007, such as Chendian International 、 Shuanghuan Technology 、 Sinonova Pharmaceutical Among them, the probability of performance reversal of Chendian International in 2007 increased significantly. After all, it is hard to imagine that Chendian International's performance will continue to suffer losses from the power supply and power generation industries. In addition, we can also pay attention to the revalued shares caused by the overall listing expectation or the change of controlling shareholders, Dong'an Power 、 S Publicity 、 Chunhui Shares Such is the case for individual stocks. Jiangsu Tianding Gandan