The Stock Market Is Turning Upside Down.

Although the market has already had the bottom features in late August, the Commission issued a document in September 1st, which restricted brokers to close the port of distribution of Hengsheng electronics, Shanghai Ming Chuang and flush securities to the broker before the end of September.

Many brokerages also require clients to make the closing positions before September 10th and even before September 8th.

This has created new difficulties for the market to go out of the bottom.

Market hates uncertainty.

How much remains left?

How much is the amount of daily inventory and allowance? No one has provided the exact data so far as the two liquidation of brokerages.

It is like a black box with a strong capital market, which always oppresses the market.

Like a plague, the market spreads panic.

Moreover, it keeps triggering the fear of liquidated positions in the formal financing market.

This tells people that in the case of opaque distribution, the market can not be too optimistic about the height of the market in September. It can only hope that the market in September can completely eliminate the residue of the disks, continue to shake the bottom and gradually step out of the bottom.

The area of oscillation is probably between 2900 and 3400 points.

After the two stock market crash, the biggest decline of the four indexes has the bottom condition.

The Shanghai Composite Index fell 45%, Shenzhen index fell 46.8%, medium and small board fell 48.8%, and gem fell 56%.

In such a short period of 2 months, such a huge collapse has been very rare in the history of Chinese and foreign stock markets. As long as there is no major economic or financial problem, it is a great investment opportunity or trading opportunity.

Judging from the valuation, due to the expansion of new shares, refinancing, performance improvement and other factors, at present 2960 points, the Shanghai Composite Index's P / E is only 13 times.

It is 17 times that of 998 in 2005, 13 times at 1664 in 2008 and 13 times at 2049 in 2014.

Shanghai 50 and Shanghai and Shenzhen 300 have a similar price earnings ratio to 2049 points launched in July 22nd last year, which is lower than the valuation of US stocks, European stocks and Japanese stocks.

This shows that the 2850 point is that the valuation of the stock market is low and the adjustment is in place, with the value of investment in the medium and long term.

In particular, recently, the central bank has dropped twice, and the four ministries and commissions of the state have encouraged the merger and reorganization of listed companies, the cash dividends and the repurchase of two major releases. The stock market has been going up or down, or "going out for good delivery" and "making good profits to be bad". "Consistency itself is the right space" consistency of irrational thinking, reflecting the pessimism and despair of the majority of investors, which is also the market characteristics of the bottom stage of the last stage.

At the 4184 point of the national team, when the market penetrated 523 points and fell to 2850 points at the bottom of the 3373 point national rescue team, in the face of the sharp fluctuations of the stock market, it was possible to trigger systemic financial risks. It had to reappear in the robe and bring 1 trillion and 400 billion huge sums of money to return to the rescue market, and jointly increased 50 100 billion brokers to launch attacks against blue chips.

After clearing up the "ghost" hidden in the national team and reducing the stock price to 100 hands and raising the margin to 30%, it is reasonable to believe that the two rescue of the national team will become the mainstay of stabilizing the market, and the probability of success at the bottom of the 2850 point will be considerable.

Comparing the stock prices from July 9th to August 25th, the Bank of China dropped 5.96 yuan to 3.43 yuan, fell 43%; PetroChina fell 48% from 15.26 - 8.03 yuan; China Ping An fell from 47.5% to 46.99 - 24.65 yuan; citic securities fell from 28.28 to 14.03 yuan, or 50.4%.

Therefore, the national team from the stock market to rescue the market, it is reasonable.

As for

The small and medium sized board, and the small and medium-sized stocks in the main board, most of the stock market has also been in a downward trend recently, and the share price has been cut off again, creating a new low in July 9th.

The 349 stocks set a new low when the market started last July from 2049.

Many small and new stocks of gem and small and medium sized boards have fallen to a 20 times price earnings ratio.

It has also appeared.

The risk in the stock market is rising, and the opportunity is falling out, and the stock price is the biggest positive.

It is no doubt that the national team rescues the market again at this time, the difficulty is much smaller than that in early July, and the probability of success is much larger.

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