Shanghai Composite Index Breaks Through The Annual Line With The Attitude Of Big Volume And Big Line.

In the first quarter, when market sentiment was generally pessimistic, most investors thought that the Shanghai composite index would fall below 2638 points. However, the market continued to show more than expected performance. The "two sessions" closing, the June fed discussions, the UK "off Europe" and the recent devaluation of the renminbi and other major events had very limited negative impact on A shares.

In fact, this is due to the stock capital game, investors generally cautious, and the lack of incremental funding results.

When the event swings repeatedly in the interest or interest space, it will cause uncertain psychological expectation to investors. When the boots are down, the uncertainty will be dispelled, and the investors will participate in the market appropriately.

The characteristics of honeymoon period.

From the point of view of volume and price, there are some differences between the arrangement of the volume line and the previous several times. In April 13th and July 12th, the trend of high continuous Cross stars was high after the volume rise. The volume of small crosses was directly associated with the increase in the volume of August 15th. The high continuous Cross stars and the huge number of Yin lines were more obvious signs of high shipment.

Market funds have gradually shifted from high profits to high positions. The main reason is that the economic fundamentals and long-term consolidation have had a relatively large impact on investors' psychological expectations.

When all kinds of events do not have a negative impact on the market, the index moves steadily up and down, and the economic fundamentals gradually pick up.

Confidence is restored, and the expectation of the 1000 stock limit is completely eliminated, all of which give positive anticipation to funds inside and outside the field.

At this point, the annual line representing the dividing line between cattle and bears was broken by a single blow, giving investors an effective signal. Investors holding positions are more willing to hold for a period of time, while light investors are actively looking for opportunities to enter.

Specific to the capital side, the first is the industrial capital benchmarking "Hengda", a large number of holdings in the three quarter of the stock, as of now, "Hengda" has added six companies close to the placards line.

Although close to the placards and not playing cards, they released a signal that they did not want to be restricted by the policy of reduction, but only a simple investment in securities. But they also showed that "Hengda" believed that the overall market value of the three quarter was relatively low and there were investment opportunities.

In the three quarter, the Shanghai composite index was oscillating in the interval of 2930 -3140, with a central line of 3050, with little difference from the current 3100 point line.

Secondly, according to the information of the China Securities Investment Fund Association, as of the end of September, the scale of private equity securities has exceeded 2 trillion and 400 billion. Private equity funds, as a kind of institutional investors who have been developing rapidly in recent two years, have played an important role in the market due to their investment flexibility and diversity.

The funds are basically used for securities investment, which provides the market with very effective incremental funding.

There is no need to worry about incremental funding after investors' expectations of the market turn positive.

Recently, a spokesman for the Ministry of human resources and Social Affairs said that the investment contract for the basic pension insurance fund has been issued and will be officially launched in the year.

Since Guangdong and Shandong had already conducted pilot projects for pension funds in the first place, two provinces have entrusted 100 billion yuan to the National Social Security Fund Council for investment and operation. Therefore, the next pension market is expected to increase by about five provinces, with a scale of 300 billion -5000 billion yuan.

Some investors worry that the pension market will choose to absorb the market and create negative emotions for the market.

In fact, there is no need to worry too much. In the medium term, the scale of the pension market is even less than 1/5 of the scale of the private equity fund, which can not lead to the Shanghai and Shenzhen two cities that have exceeded 50 trillion of the total market capitalization.

Finally, in the context of anticipation of good market, active participation of funds and the vacuum of bad events, the index has stepped out of the pattern of shock consolidation after breaking through the important suppression of the annual line. In the short and medium term, it has ushered in a period of accelerated rise. Investors can actively grasp the investment opportunities at this stage. There are three ways to pay attention: first, underestimate the value or increase in small stocks, and there are still stocks that make up for inflation; second, there are steady growth demand for infrastructure, construction and building materials stocks; third, the concept of high delivery and pfer throughout the year, and the possibility of a concentrated outbreak in the fourth quarter.

In terms of risk, we should try to avoid stocks that have increased too high during the year, and repeat them at high levels.