129809336144742500_1182We believe that the Government cut its 2012, GDP growth is expected to 7.5% three signal meant to adhere to prudent policies, suppression of local investment impulse, allow space for transformation, meaning market signals is to prompt "policy to relax" under the note will be at risk. Therefore
Diablo 3 CD-KEY, we believe that even in the second quarter this year, with economic turnTurning traditional logic to determine systemic or policy opportunities I'm afraid will disappoint, looking back towards the end, economic, and market trends mobility, or can be summarized into a bottom, but lack of tendency of "l". After a unilateral adjustment of the 2011 year, fundamental risks of economic growth and monetary tightening has basically been released, systemic risks facing market this year is unlikely to, Which is a quarter of a-share markets interpreted "into the second taking a" basis of rebound. During this period, the previous "economy-policy loose" rally of logic is gradually weakening, capital market system of innovation is becoming structural remodeling market opportunities and risks of the most important reasons, recent strength in the merit of blue-chip, poor performance unit area decreased by merely system effect innovation market structurePreview the indication. We have always stressed that "structural" is intended to show that "bear" may not be "Bull", maintenance, correction of judgement, which is the fundamental starting point of formulating trading strategies. Blue-chip stocks driven with half of the driving force of this large blue chip comes from three main areas: first, policies regulating fine-tuning expected and, secondly, cancel reset led stock fund.Third, in Shanghai and Shenzhen 300ETF positions "sedan". First, with regard to policy preconditioning fine-tuning is expected to focus on two main areas: infrastructure investments and credit. According to the limited potential for infrastructure incremental investment to hedge investments in fixed assets this year, such as the railway Ministry plans for 2012 infrastructure investment of 400 billion, slightly less per cent in 2011, significantly less than the 2010 yearLevel of more than $ 700 billion; completed in 2011 non-rail transport infrastructure investment has accounted for the entire "Twelve-Five" project 23%, 2012 growth is relatively clear. Of decline in infrastructure investment is hedged "analgesic" rather than promote the growth of "doping". Therefore, in the next economic downturn are not bad, "l", should be rational in the face to the marketBlue chip value repair space. Secondly, with regard to credit. In April economic data to be released, new credit market will no doubt most concern, despite the decline of markets for new credit in April had been expected, but disclosure when demand does not pick up will still be affected by market survey. Even though M2 of 14% through the expansion of credit growth for the whole yearMark, is M2/negotiable market value only in the historical position of about 4 times, and in 2005 the bull market beginning M2/flow =28 of ample liquidity in the market value of the peak magnitude. Finally, on the Shanghai and Shenzhen 300ETF Fund positions. Two ETF positions period would be funds within three months after the entry into force of the contract, within the next three months each in theoryIncremental funding in accordance with the weight of about 1 billion a day to buy CSI 300 sub
SWTOR Credits, beginning from late April stock funds "sedan" has its own rationality, but we believe that CSI 300ETF Fund positions is greater than the actual impact on the market. Reason is: 1, Shanghai and Shenzhen 300ETF funds within 3 months of the uncertain pace of positions, 2, history2006 Junior ETF, 2009 shenchengzhi ETF and ETF positions 2011 gem and market structure development of the lack of necessary relation, especially April 2010 stock futures ahead of the launch, the market consensus estimate of market blue chips fall through a fresh 3, stripping out "help" funds and stock swap part IView CSI 300 as a sub-unit of the rigid requirements of the future size of less than $ 50 billion. Summing up the above analysis, we concluded that this large blue-chip market in terms of liquidity and valuation fixed two and subsequent lack of adequate space, Shanghai and Shenzhen 300ETF the positive positions of the Fund, but the psychological impact is greater than the actual impact. If starting from 2,242 lows,High according to the most optimistic estimates to our annual policy goal of 2,700 points stop, driving force of the market blue chips currently on the market has passed. Caution high blue-chip stocks we believe that's a-share markets while significantly reducing systemic risk, but correction pattern has not changed. The large blue-chip market is an integral part of the structural market correction in the city, butCarries too many expectations of the market. This is higher than the actual expectations from a psychological point of view, mainly because of merit investment logic of most blue chips in line with the market participants, while the market ready to indulge in derivative phenomenon--a strength in the blue-chip benchmark index's strength. Therefore
wow power leveling, strong blue-chip benchmark = for a long bull market coming mental orientation is always present. In the short term andStatements, we need fear the "bull market" of inertia, market if under the influence of European and American stocks lower on Monday, in turbulence and low points can still be active participation of resource and innovation of trading opportunities on the two main lines. But the medium term, under the basic judgment of correction city, proactively capture market "expected worse" reverse policy access excess profits. Early "bull market" expected may makeWe ignore the negative information remains, may cause us to lose more flexible-band operations strategy. High buying market blue chips also risk. (Editors: Zhang Liang)
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