Article/Ai Tangming, Chief Commentator of Sina Finance[ micro-blog ]
Today, it is a pity that we failed to continue the momentum of yesterday's low opening and high walking, and the major indexes have all experienced a correction.
In fact, it also rose in the afternoon. The GEM rose 0.7% at one time in the afternoon, but compared with yesterday, the upward momentum was significantly weakened. In particular, the trading volume shrank. Volume is the mother of price. Without the support of volume, it is difficult to further rebound.
Another important change is the ebb of hot spots, especially the recent hot concept of shell resources. Although there are still some stock trading limits, the large-scale trading limit of ST plate is no longer popular, and many stocks have plunged instead.
This is related to the fall of a benchmark stock, the king of monster stocks Hengli Industry Today, the myth of closing the board failed to continue. In the morning, it opened high and went low, once falling by more than 8%. Although it rose again in the late afternoon, it was just a way of shipping hot money. Demon shares are demon shares, which will still toss and turn until the hot money is sold out.
Another ST share leader *ST Changsheng In the morning, it was also the floor of the sky, falling from the limit to the limit. Although the trading limit has been closed again since then, it can no longer drive the ST plate to reproduce the grand occasion of collective trading limit.
Because these two stocks have been targeted by the management, the Shenzhen Stock Exchange released a news last night that Hengli Industry, * ST Changsheng, etc. have increased significantly recently, and the stock prices have seriously deviated from the company's fundamentals. The Shenzhen Stock Exchange has paid close attention to this and focused on monitoring.
Benchmark stocks are like a flag. If the flag falls, other stocks will naturally be affected. This is also the reason why small and medium-sized stocks failed to continue the glory of the previous two days and reproduce the trading limit of 100 shares. However, it has not yet reached the level of collapse and dissolution of the monkeys. Small cap stocks are still the most active force in the market, and there are still more than 60 individual stocks trading in the two cities.
The basic reason is that the rise in the past two days has greatly stimulated market popularity. Many people see the profit making effect and are still rushing in. Hot money has just entered the market, and it is not time for large-scale flight.
In particular, the management's attitude is not very strict. Although Shenzhen Stock Exchange has expressed its intention to strengthen the supervision of Hengli Industry and ST Changsheng, it has not suspended its trading review, but only asked the company to increase its risk warning.
Since it was the management who let you loose the door and let you speculate, it would not be so quick. After all, the purpose has not been achieved, and the crisis of equity pledge of listed companies has not been completely lifted.
As long as it is not over hyped, causing public pressure and making it difficult for the management to do so, it will not be too strict. So the hype will continue, there will still be hot spots, and there will still be opportunities for everyone to participate.
Today, however, there is a big division between the two and eight sectors. The performance of Shanghai Stock Exchange 50 is weak, and the performance of blue chips is average. On the one hand, the current hot spot is in small and medium-sized stocks, on the other hand, the sharp drop in crude oil has dragged down the oil sector. In addition, the financial data for October released yesterday and the economic data for consumption released this morning have had a certain impact.
Although the GEM led the rise for three consecutive days, the increase was lower and lower day by day. Today, the GEM rose sharply and fell back, which was not as good as yesterday. It felt exhausted for three days. The weakness of the leading plate is a sign of the overall weakness of the market, so we need to be cautious tomorrow.
In the case of weak global stock markets, the independent market of A shares for three days in a row has been very good, but it is impossible to go independent every day, and also faces the pressure of remedial callback. Besides, it has accumulated a lot of short-term profit taking, which needs to be digested.
However, since the management has opened the door to speculation and hot money has come, speculation will not stop easily. In the future, we can continue to focus on the opportunities for small and medium-sized stocks and theme concept stocks to make a comeback, and make preparations in advance.
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(The author of this article introduces: chief commentator and senior investor of Sina Finance.)
