Gem Is Significantly Stronger Than The Main Board Or More Shocks.

In the first two weeks, I once remarked that there should be no big adjustment in the market at 3270 points. Later, judging from the fact that the market will be in the vicinity of 3300, there will be fear of high sentiment, which is not conducive to the high turnover of chips. So in recent days, I have raised the target position of rebound (or the starting point of formal adjustment) to 3300 points. From yesterday's and today's market trend, after the Shanghai stock index hit 3243 points, especially after yesterday's intraday diving, the market fear of high sentiment began to accumulate gradually.

From a technical point of view, Market Today, it fell below the 5 day moving average, and was supported at the 10 day moving average. At the same time, the 5, 10 and 20 day average lines were still multi headed, indicating that the market is still in the bull market. Therefore, we will continue to maintain our previous view and the market will continue to grow. The above is the view of the market. Now let's talk about the growth enterprise market.

Today, the gem is significantly stronger than the main board. capital Obvious signs of inflow and increasing market concern are both "sucking gold" and "attracting eyeballs". As for the growth of the growth enterprise market, I would like to explain again that the so-called "midline" is, on the one hand, that the growth of the growth enterprise market will not be short-lived. On the other hand, it is necessary to put this upward trend in a longer period of time.

From a technical point of view, the gem has seen a trend of stabilization and recovery since the overfall this year. The loosening of stock index futures has provided a hedge for risk. When the upward trend of the market is further established, while the gem is still at a relatively low price, as long as there is capital to drive, the gem will easily become active. Because the price is low, the market capitalization is small, and the risk is controllable, a small amount of incremental capital can bring a good increase.

But from a fundamental perspective, Gem It is still not worth holding for a long time. Recently, 585 GEM companies released performance forecasts, while 9 companies released a performance bulletin. The forecast shows that gem's performance continues to grow significantly, and pre hi companies account for 76%. It is expected that the overall performance of gem will grow by 31%-52% in 2016. This data is certainly very beautiful, but it should not be overlooked. The average price earnings ratio of the gem is still at 68 - 70 times high (the average market rate is about 5.5 times), which is still high from the valuation.

According to Davies's theory of double kill, when the market is in a bull market, the tolerance of the market will be increased. When the market is in a bear market, even if the stock price is reasonable or even low, the market will still not accept it. Of course, the gem can not be said to be a bear market, but the main board's slow bull market has started for half a year, and the gem has not seen the shadow of the bull market, which shows that market confidence is still insufficient.

Under this mentality, once the growth rate of gem appears larger, it will face a strong sell-off immediately. This is why I think there will be many shocks and repeated reasons for the growth enterprise market. So much space today. A brief summary: I personally believe that the main board market has not yet finished, the gem will be a number of short-term shocks eventually formed the midline market, the leading stocks can be concerned about it.

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