thereby maintaining the high degree of relative prosperity. In downstream consumer enterprise

Theme investments as Spears: investment in the thematic reports of the tactical offensive--topic new start (November 14), we believe that short-term market lacks conditions for trend upward, absolute gains tactical investment participation theme is the best means of attack. After picking star wars the old republic power leveling, we believe that the energy saving and environmental protection, nuclear power, seed industry topics such as may appear appropriate catalyst in the near future, it is recommended thatMore or less like to dive. Mid-range consumer for a shield: in this report, we from the perspective of strategic defense, dealt with in the next one to two quarters, inflation downward phase achieve a relative income investment strategies. We believe that inflation down and not just price, also implies good times down behind. This process is associated with consumer behavior trends move closer to the Center from both ends. TightlyGrasp the needs of the industry in the process and price changes, search for "short supply" of industry and trade of raw materials prices down more than the product price, is the key to success, take the relative benefit of active defense. Looking to the medium-term trend, inflation down have been established. Main features are: a) CPI to enter the following line in November and December at around 4.5%, 2012Years up to about 3%; b) PPI also enters the following line, and downward faster than the CPI, thus (CPI �C PPI) disparity in expanding and entering a positive value interval; c) entered a downward trend, it was established. Prices down are not isolated incidents also offers currency situation of tension and economic boom downward trend. Inflation downward phase, the upper and middle reaches of the enterprise profitLee compromised due to "demand and product prices down twin killing"; lower corporate demand is relatively stable, cost end prices downward faster than products end prices downward, thereby maintaining the high degree of relative prosperity. In downstream consumer enterprise, mid-range consumer will be entitled to a higher relative prosperity--on the one hand, increased earnings and inflation down improvement in real purchasing power of low-income strata, pushLow end consumer upgrade; on the other hand, the global economy down against enterprise and Government spending power swtor power leveling, resulting in high-end consumer sink.����Mid-range consumer and therefore have lower relative prosperity of the best in the business. In the end-consumer demand may contain the best fundamentals for some time to come. Recommendations to medium consumption for a shield, win the relative benefit of within the medium-term. A specific focus on packageSurround: convenient hotels, mid-range dining, wine, home-made wine and mid-range brand clothing, medicine, medical equipment, specialty medical, short-distance travel, tobacco, thousands of dollars, such as smart phones, cyber face strong demand of mid-range consumer industries and products. (Specific content please see annex)