Chapter 448 Factors that restrict A-shares
The last time A-shares traded and saw a surge in daily limit prices was the last time.
It has been very difficult for investors over the past six months.
Although the regulators' calls led to a big rise on Monday this week, the effect was far less than today.
The reason for this is still related to the lifting of the ban on China News Service today.
The final trend will be the same as in the previous few months, rising for most of a month and then falling completely within a few days.
In the past ten trading days, the Shanghai Composite Index has seen long-term intraday gains on three trading days, but the index is still moving steadily downward.
The highs are getting lower and lower, and the lows are being refreshed frequently. This is exactly the ecological environment under a big bear market. Any rebound is for the purpose of selling goods and looking for low support downwards.
As a professional investment institution, the actual controller is particularly familiar with the final trend of this year. With the BUFF bonus, he will naturally not make the mistakes made by ordinary retail investors.
Several major trading teams of Junshi Group strictly implement Gu Junhao's flexible position operation mode. They reduce part of their positions when there is a big rebound, and add the positions back when the price falls to a similar support level.
Anyway, with the market trend this year, there is no need to worry about any stock being sold out. Even the best performing stocks will have a relatively deep correction at some point in time.
If you implement your plan seriously, you can't do it in a bear market. The reason why Junshi Price Investment has been retreating for three consecutive months is only because it has relatively large restrictions on its positions.
There is no limit on positions. Retail investors with limited capital should adopt a cautious attitude in a bear market and participate in a wave-like rebound with a small portion of their positions. They should take profits when there is a certain profit and wait for the next opportunity.
Once you encounter a downward trend or stagflation, don't hesitate, get out and wait for the next opportunity.
This method will not make you lose much money. The time when retail investors really lose big money is in a bull market.
At 9:30 in the evening, Junshi Price Investment's intraday fund net value was officially refreshed, with a daily increase of 3.52%. The net value returned to above 2.5, reporting 2.5177.
The sharp rise during the day is roughly consistent with investors' judgment. Although the second quarter's holdings have not yet been updated, it can basically be seen that Junshi Price Investment's holdings have not changed much from the first quarter.
As expected, after the close of trading on Friday, July 13, Junshi Investment's updated second quarter holdings were still dominated by the main allocation of medicine and technology.
The biggest change in specific holdings compared with the previous quarter is that in addition to the addition of China News Service, Ning Wang was also added.
The holdings of these two stocks have almost reached the top limit within the public fund holding rules, close to 10%!
Zhongxin Telecom continued to rise by 5.94% today, with its share price closing at 14.10 yuan, and its daily trading volume increased to 6.26 billion yuan. Ningwang rose and fell today, with its share price falling by 2.44% to 82.70 yuan.
Due to the previous placard holding, China News Service appears in the holdings, and the position is heavy, which is understandable to everyone.
However, no one expected that Junshi Group would have such a heavy stake in the newly listed Ning Wang.
"What the hell! What is Brother T preparing to do? Is he going to start building a position? He has almost fully bought these two stocks."
"Zhongxin News has now proven that Brother T's choice was correct. What about Ning Wang? Isn't Ning Wang's position a bit high?"
"New stocks have to go through a period of decline, right? Didn't Ning Wang rise and fall today? Could it be that Brother T has reduced his holdings?"
"It's not impossible. When Brother T first took over this fund, he bought a lot of newly listed stocks and ran away after making a profit."
"But fortunately, Brother T's overall positions are still in the medical and technology sectors. It seems that this year's market trend is these."
"Brothers, have you noticed that Zhongguo Software, which Brother T holds, is doing quite well? It has doubled from a low of around 11 yuan in February to a high of around 26 yuan. This time it has adjusted back to around 16 yuan, and has returned to above 25 yuan."
"It's really amazing. This stock actually went out of the trend. It's really amazing. The same is true for Hengrui, which Brother T bought. I found that Brother T's team is very good at selecting stocks."
"Of course he does. Brother T was already very good at picking stocks. Now he has a professional team and lots of money. He can just buy, buy, buy."
"Isn't the current price a bit high? It looks good, but I don't dare to buy it. Forget it, I'd better hold on to the fund. I really don't dare to buy stocks this year. I lose money on every stock I buy."
"I bought Brother T's fund at a high point, and lost up to 8 points. I have been investing regularly, and now I have made a small profit. It is better than stocks, which have lost 30% this year."
"It's only a 30% loss. My money has been cut in half this year. MD, I don't know when I can get my money back. I have to rely on Brother T's fund to make up for some of the losses."
"Alas, Brother T's fund is not doing well this year. It would be better if it were like the previous two years, but it is already very good. It has only lost less than 7 points this year, which is also very good."
"I don't dare to move. The recent position of 125700 has not been very high. I plan to wait for his position to be raised, or for Brother T to release the subscription before entering."
"+1. I'm short on stocks and funds. I can't catch the recent rebound. The ups and downs of technology stocks are really unbearable."
"We were not there when the market was going up, but we were there when it was going down. The market is so frustrating."
"Give me back my money, I don't want to play anymore!"
"The GDP will be announced tomorrow. I don't know what the data will be like. I hope the data will be good."
"As for the data, it must be good, of course. But what does this have to do with my Big A?"
What was said in the comments is correct. The good or bad of a single data is indeed not enough to change the current situation of A-shares.
The factors that currently constrain A-shares can actually be attributed to four main categories: The United States is currently in a balance sheet reduction cycle, and emerging markets like ours will face great pressure on capital flows, which is specifically reflected in changes in exchange rates.
The second is that there is still a lot of uncertainty in the current friction between the two sides, and it is almost impossible to ease the relationship in a short period of time.
The third is that deleveraging of the financial market is still the general direction of supervision. The rules are constantly changing and the market is constantly adapting.
In addition, in terms of monetary policy, unlike the loose monetary policy during the bull market phase from 2013 to 2015, monetary policy has actually tended to tighten.
Fourthly, the current economic prosperity is relatively flat, with deleveraging, destocking and financing difficulties for most companies. There are no major highlights in performance, but there are many landmines, which is also a major factor restricting the rise of A-shares.
It is no exaggeration to say that every year's reporting season is filled with thunder and lightning. There are always some companies that submit unbelievable performance data.
Some more conscientious brokerages have also issued risk warnings, advising investors to control their positions and wait patiently for a turnaround.
These brokerage firms believe that the current A-share market is more inclined to a rebound, and it is necessary to control a certain position to participate.
Of course, there are also unscrupulous people who are still promoting the big financial sector and deceiving investors by saying that the valuation of the big financial sector is relatively low. In fact, there are quite a few recommendations for the securities sector said that they are just bragging about themselves.
It is really speechless to promote brokerage firms in a bear market.
Fortunately, today's ordinary investors have become smarter and can no longer be fooled. Over the past three years, they have seen all kinds of scams. If they were not really trapped, many people would have already been in a short position.
The next day, the GDP data was officially released, showing a year-on-year growth of 6.8% in the first half of this year and 6.7% in the second quarter. The growth rate slowed by 0.1 percentage point compared with the first quarter.
At the same time, data on real estate development investment in the first half of the year were also released. From January to May 2018, the growth rate of real estate development investment was 10.2%, while the growth rate in June was 9.7%, a drop of 0.5 percentage points.
It can also be seen from the data that real estate has entered a high-level game range, and housing prices have indeed risen too fast in recent years.
House prices have also been a hot topic among the people in the past two years. Even employees within the Junshi Group believe that the boss took over at a high price and spent 150 million yuan to buy an office building.
However, apart from thinking that the price was too high, everyone didn't feel anything about the boss buying an office building. After all, the boss was really rich, and it was really easy for him to buy his own office building for 150 million.
Having your own company's office building with complete supporting facilities and convenient transportation means you no longer have to worry about parking issues, and your work experience is naturally enhanced.
At the same time, this is also a symbol of the company's strength. Today, Junshi Capital is a top-ranked company in Beicang and even in the entire Ningbo city.
With large cash flow and good employee benefits, such a company must have its own office building to match its rightful status!
The employees are also looking forward to moving into the new office building, which is currently undergoing overall renovation and is expected to be ready for official occupancy by the end of this year or early next year.
Although the performance of the two funds this year is not as good as last year, the treatment of ordinary employees has increased due to the return of a large amount of cash flow, which makes everyone look forward to moving into the new office building.
In fact, the turnover rate of Junshi Capital is relatively low, even in the first few months after the company was founded, when management and other aspects were relatively chaotic.
All of this is inseparable from the company's welfare benefits; most employees, for the sake of money, are willing to stick with it, especially nowadays.
In private enterprises, whether an employee gets promoted or not is just a matter of a word from the boss. Employees who have few opportunities to interact with the boss care more about how much money they actually get.
If the salary is sufficient, the turnover rate will naturally be low, and the work of the HR department will be relatively simple. There is no need to always remember to prepare for the trouble of recruiting people.
On the contrary, because Junshi Capital has a good reputation, it is much easier to recruit people.
