Heavyweight Movements Gradually Accelerate The Situation

Today, the stock market index opened lower in the morning market, followed by a downward shock. The growth enterprise market opened up rapidly and hit a new high after a rapid fall. After 10:20, it rebounded to noon. The afternoon stock index continued to oscillate, and the innovation was low. In the wake of the rise of China's north-south car, the market rebounded. The hot spots of the market were: Apple concept, gene concept, sub new shares, lithium batteries, private banks, smart wearable, Tesla and other plate strong trend; overall: today's stock index fell, and the gem was strong.

Although today's stock index is significantly lower, it is led by gem.

The stock market is still very active, and the subject stock is still the mainstream market in the market. This contrasts sharply with the sharp fall of stocks in the stock market when the stock index rose at the end of 2014. At the end of last year, when the two heavyweight stocks represented by finance and infrastructure rose, the gem fell sharply, and the stocks were extremely fierce.

Down, but the stock rose very large; this is what we said before: 1, two class heavyweights rose when the stock index rose, the eight class stocks fell; 2, two class weight fell when the stock index fell, but eight class stocks rose.

In structure

In general, the market will be carried out in the second ways mentioned above. The most typical example is that the growth rate of the growth enterprise market in 2013 has risen two times. In the bull market, the market will change and run in the above two points to form the rhythm of rotation. At present, stock index can not be a bear market. It must be a bull market. The growth enterprise market is running in third main waves. Now investors can make many small cap stocks, but when the weight index is adjusted, the stock index will rise again, and investors need to focus on the heavyweight stocks.

At present, although bank stocks are still low in innovation, the forwards of financial stocks have already begun to build up, and the infrastructure sector has also risen, especially the joint movements of China's north-south cars this afternoon, strengthening the strength of heavyweights.

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After a general rally on Wednesday, the stock index returned to a concussion on Thursday.

In early trading, the stock index remained low after the opening of the Shanghai stock index. Banks continued to be the main drivers of the decline. After the 10 point, the stock market rose, and the number of small and medium brokerages in the Western securities and Soochow securities rose, and the stock index remained stable. However, the banks remained depressed in the past 8% months.

Drag the stock index up.

At the same time, small cap stocks continued to be stronger than large cap stocks, and the gem index again set a new high in the morning.

On the plate, the concept of railway infrastructure and so on has been fully adjusted in the early morning, but in the wake of the rapid rise of the North-South car and the double impact of the daily limit, the whole area rebounded all the way.

In addition, private hospitals, food safety, smart wear and other sectors around the needs of people's livelihood remained active throughout the day, and the gains were larger. On Wednesday, the concept of environmental protection after consolidation was restored today.

On the news level, at the 9 session of the Twelfth National People's Congress today, the third session of the Twelfth National People's Congress held the opening meeting in the Great Hall of the people, listening to the report of the premier of the State Council on the work of the government. When it comes to the capital level, Li Keqiang pointed out that we should strengthen the construction of multi-level capital market system, carry out the reform of stock issuing registration system, develop the regional equity market serving the small and medium-sized enterprises, promote the securitization of credit assets, expand the scale of corporate bond issuance, and develop the financial derivatives market.

We believe that with the progress of the two sessions, the favorable policies will be gradually released.

In addition, in terms of monetary policy, prudent monetary policy should be tighten up moderately.

The broad money M2 is expected to grow by about 12%. In actual implementation, it can also be slightly higher according to the needs of economic development.

We should strengthen and improve macro Prudential Management and make flexible use of monetary policy tools such as open market operations, interest rates, deposit reserve ratio and refinancing, so as to maintain a steady growth in the scale of money and credit and social financing.

We should speed up capital turnover, optimize the credit structure, raise the proportion of direct financing, reduce the cost of social financing, and allow more financial flow to the real economy.

For the current market, our point of view is still clear: because there is no systemic risk at present, and the two sessions are warm and harmonious, interest rate cuts are fermenting, so the market bull power is actually gathering. Once the weight chain is launched, the index will accelerate.

Therefore, we believe that the small market structure is very healthy.

For the view of hot switching of large and small plates, we also believe that in the bull market cycle, the rapid rise must be the small cap stocks, and the stocks that are expected to be restructured. At present, the growth of the gem and small and medium-sized boards has accelerated. In fact, the heat of the stock game has been fed back. Of course, the top-notch performance of the gem will inevitably lead to the rise of the heavyweight stocks.

For investors involved in small cap stocks, it takes courage. For investors who are involved in blue chips, they need more patience.

Strategy continues to maintain the size of the balance, the value and growth strategy, basically covers the mainstream market hot spots, the east does not brighten the West bright, first up is the immediate income, not rising is the future profits.

Mentality is relaxed. Shareholding is the biggest gain.

(Huang Wei)