Who Is The Chief Culprit Of The Stock Market Crash At The End Of June?

Who was the real murderer of the stock market crash at the end of June? That is, the first half of the market is manipulating maliciously, and the latter half is still a malicious short selling and market manipulation. Others are just a foil, an accomplice.

In the first half of the year, the Chinese stock market interpreted a farce of ice and fire. First, it was the world of cattle and crowns. Investors were delighted, and then the bear world. Investors cried, thousands of shares were trading, thousands of shares were down, thousands of shares were down, thousands of shares were trading, investors were in a fog, and there was a big financial storm. The Chinese government had to let the card companies use about 1 trillion and 500 billion yuan to rescue the market.

Faced with a different stock market crash, we are discussing the causes and consequences of the stock market crash. We hope to find a cure for China's stock market, a vision of experts, media perspectives, politicians and politicians.

The so-called hundred schools of thought contend.

But there is only one purpose. It is hoped that the stock market crash will not repeat itself.

The author is just an ordinary investor who didn't want to qualify for such a deep topic. But he signed an article on Haitong Securities, Li Xunlei, Xun Yu, who attributed the stock market crash to small and medium-sized investors. As a small investor, the author thought it was extremely unfair and irresponsible. Small investors could not become a scapegoat for the unhealthy operation of the stock market in China, nor could they be synonymous with the stock market crash.

Since it is a small investor, with limited funds, it is impossible for a single investor to set off a big wave in the capital market. Even if there are group effects and love to catch up and sell down, if there is no big capital to start a billowing wave, small investors will not intervene madly at all. They will help the stock price skyrocketing, without big capital running away, leading to a continuous collapse of stock prices, and small investors will not join the slump army to accelerate the sharp fall in share prices.

Therefore, small and medium investors only play a role in helping to rise or fall, and at the very least, they act as an accomplice. They can not be the principal offender of the stock market crash. Behind the sharp fall is the intentional guiding role of institutional funds or market capital chiefs. Or simply manipulating the market, they turn their hands for the rain, and they are the prime culprit of the market's sharp rise and fall.

Judging from the current public information, there is a high correlation between the market crash and deliberately making short profits. Whether Yao Gang was checked out, Zhang Yu Jun stepped down and CITIC Securities executives were arrested, all of which were related to the short selling of the market. The most typical example is that in the trading of stock index futures contracts such as Shanghai and Shenzhen 300, Zhongzheng 500, Shanghai Stock Exchange 50, etc., in Shanghai, the sale of open positions and buying positions was at the forefront of the whole market. The company's account group averaged an order of 0.03 seconds, and 31 orders per second, and the deviation between paction price and market situation was significantly higher than that of other procedural traders.

Take the CSI 500 main contract in June 26th as an example, the sales volume of the account group of the company accounted for more than 30% of the total sales volume of the market. More than 400 times the total sales volume of the company account for more than 30% times. In the second calculation, the selling volume of the group was ranked more than 1200 times in the whole market.

According to statistics, from the beginning of June to the beginning of July, the net profit of the company's account group reached 5 billion yuan.

How can such high-density programming pactions be done by ordinary investors? It is just that hundreds of malicious short selling forces have added fuel to the flames, which has led to a sharp decline in the futures market.

If the high growth rate is high as a support, the overvalued value will be very reasonable. But if the high valuation is not only high growth but on the decline of performance, then what is the overestimation value? That is, the bubble, that is, the moon in the water in the clouds is a kind of illusion, or simply the result of market speculation, or even the result of capital manipulation.

The result must be

It is clear that the stock price will flow with the manipulation of stock price funds.

It is the futures market plummeting, which dragged down the spot market crash, and the spot market plummeted, and further led the futures market to plunge, a link closely linked to each other, thus creating a vicious circle, which led to a slump and unmanageable. What I want to ask is how can such small investors collapse?

Why is China's stock market going to go on like this for a long time? It's because the stock market has continued to skyrocket, so that the market has accumulated too much profit margin. On the other hand, it is a serious high valuation, and there is already a huge bubble, which brings huge hidden dangers for the stock market crash, so that the short sellers can take advantage of it. On the other hand, it does not exclude the cooperation between the top management officials and the market short sellers, and highly cooperate with them on the news side, and use the inside information to manipulate the means to obtain illegal interests, that is, the traitors who do harm to the interests of the state interests investors.

These are not what small and medium investors can do. They are the two generation or super money of some market leaders and some officials.

In the first half of the year, China's stock market has skyrocketed. The author thinks that it is a matter of supervision. They ignore the stock price manipulation and take an indifferent attitude to the irrational stock price inflation. They are faced with high leverage and irrelevant attitude. It is the stock price manipulation that exists universally. Many stocks become the stocks of the stock market, and share prices go smoothly. They are seriously separated from the fundamentals. Small investors can not maintain their mental attitude, and can not afford the temptation to get rich overnight.

The big gamble has become a timed bomb.

Market popular saying that the basic stock market is lost in the starting line, and that the price earnings ratio is lagging behind, and that the market dream rate has been UOT, and that the market dream rate is already at the level of the market. It is necessary to talk about the market risk. Such a market does not appear systemic risk, and it is simply impossible to achieve. The collapse is normal. It is not normal to do not collapse. At the end of June, it will not plummet. At the end of July, it will plunge. At the end of July, it will not slump. At the end of August, it will collapse.

Who is wrong with small investors? Or is it the wrong way to manipulate stock prices?

It is the result of market forced prostitution.

Of course, leveraged funds accelerated the collapse of the market and made the plunge unmanageable, because the lever of funds broke down gradually, so that market liquidity instantly dried up, and the market had completely lost the strength to undertake the market. Only the surging selling and short selling forces deliberately made the market short, further exacerbated the market crash and further increased the intensity of the collapse.

The downward spiral began.

China's unique stock market crash is also a logical outbreak.

Obviously, leveraged capital is the most important step to quicken the pace of market fall. The real collapse is that the large amount of capital in the early stage is deliberately more, which makes the valuation of China's stock market seriously deviate from the fundamentals. In which country the stock market is 200 times earnings, the stock market is a nuclear bomb that detonates at any time, which is better than building a high-rise building on the beach. The higher it is built, the more serious the consequence is, the more it is impossible to remedy.

The stock market is also the case. The higher the price rises, the higher the price earnings ratio, the higher the valuation, the more serious the bubble is, the cruelty of the return of value, and the longer the road to return.

Last Friday

The closing price is 1.77 dollars. As far as the market is concerned, an ounce of gold is worth the price, which is higher than the price. It is a bubble. Investors buy at a higher lever than the price. The higher the lever is, the higher the lever is, the higher the price is, the greater the risk is, and the lower the price is, even if there is leverage, it is not terrible. The lower the price, the higher the leverage.

Because the value of money, even if a short time to hang up, you can also get the rise in the market.

Back to China's stock market, 4000 gem, 5200 point Shanghai Composite Index, most of the stock value overestimate, investors also know that this time, high leverage buying, we know that it is a bet, someone is more stupid than himself, some people will be higher prices to accept their chips, once this desire is lost, the only choice is to admit defeat, not to add additional funds to prevent the explosion of the warehouse, can run and run, can not run on the admission of bad luck, so the market has appeared to run wild.

Therefore, the high leverage led to the collapse is still only a superficial phenomenon, its essence is a serious overvaluation of value!

Therefore, the main cause of the crash can not be all blamed on small and medium investors. They are also the victims of the bubble burst. The deep reasons are the manipulation of the stock price, the malicious behavior, guiding the stock price to run along their own set trend, guiding the investors to follow the wind, making the stock price strictly separated from the basic side, and in the process of falling, it is also the big fund deliberately short, or the stock price manipulation, making the fall unmanageable.

According to news reports, Hongkong media has pointed out that there is a bigger "stock rape" than Zhang Yujun, which is now being controlled.

Hong Kong media said that during the rescue period, senior officials of the SFC had pferred huge sums of money to Hongkong and Singapore illegally, and collusion with overseas to short the Chinese stock market. Phoenix finance pointed out that the stock market was Yao Gang.

There is no official collusion between inside and outside collusion, where there is a sharp fall in the end of June? No big funds deliberately malicious short, the rate of decline may not be uncontrollable.

Therefore, the main reason for the stock market crash is not the small and medium-sized investors, but the result of the deliberate short of collusion between government officials and collusion. That is, institutional funds, hedge funds, and individual giants are the result of their short selling of the motherland. Some of them must be involved in stock price manipulation, but not all of them involve stock price manipulation.