The three major A-share indexes diverged today, with the Shanghai index closing up 0.17% to close at 3485.91 points; the Shenzhen Component Index falling 0.73% to close at 13432.07 points; and the ChiNext index falling 1.98% to close at 2826.52 points. The market turnover reached 936.3 billion yuan, the industry sector rose less and fell more, the tourism hotel, aviation airport sector led the rise, lithium batteries, wind power, photovoltaic and other new energy tracks fell hard.
Is there still drama on the GEM?
It is the fall of "Ning Wang" again, once again pulling down the ChiNext index, and through the data, there are indeed many public funds that have recently chosen to sell, on the other hand, the ChiNext board has entered a technical bear market from a technical point of view, on Thursday, under the influence of the intraday decline of more than 8% in the Ningde era, it once fell by nearly 3%, continuing the adjustment since December last year. The decline of the ChiNext board, mainly due to the continuous decline of the theme stocks, is the adjustment from the end of the fourth quarter of last year, and the recent accelerated bottoming is also very related to the Ningde era, after all, the Weight of the Ningde era is larger, and the impact on the ChiNext index is decisive. Therefore, if you exclude the Ningde era, in fact, the decline of the ChiNext board may not be so large.
Recently, whether it is TV or most of the media on some securities analysts or market professionals have said that the current main board and the ChiNext board have fallen a lot, the risk has been basically released, now such as cutting meat is to fall before dawn, in fact, I believe that many investors, especially new investors, understand this reason, but every day looking at the index so up and down the tug-of-war, really want to simply cut meat with a knife, think of Chinese investors are the busiest, look at the news technology and analyze financial statements, etc. In the end, as long as the high level does not escape the top or loss, investors joke that China's stock market has a characteristic, rising up quickly fell down faster, falling up is really powerful, even if it is a high-quality white horse company stock price waist slash market is also full of ground, it is really very painful for shareholders and basic people, every day looking at the green account, the heart is really not a taste.
This wave of rebound of A shares after the holiday due to the rebound of the peripheral market in the festival can be, so the market participants generally expect a high trend after the holiday, the result is that there is no result, the new energy liquor these track stocks still have not stopped the decline, and the recent trend of the Ningde era has brought the ChiNext board to collapse, A shares such an abnormal trend Some new investors are difficult to accept and helpless to say, why after the BIG fall of the US stock market, the rebound has a look, and the wave of rebound of Hong Kong stocks has also been counted, but how can the domestic stock market rebound be so difficult?
Entering 2022, there has been a big reversal in market style, an incredible collapse of track stocks with unlimited scenery, and a recovery in the long-unpopular undervalued sector.
Li Daxiao, a well-known financial commentator, said that the valuation level of track stocks is very high, but many people still buy bravely at the high level in 2021, based on the vast market space, and after several years or decades of growth, the valuation will return to reasonable. The money that bravely buys at a high level may not have the complete experience and profound understanding of the five high points of 1558, 2245, 6124, 5178, and 3731 points.
Li Daxiao said that in the above 5 highs, in fact, there are some common points, that is, the market has given up the valuation respect and awe that should be there, and if it does not respect or awe, it will pay tuition again.
High-valuation investment is actually very risky, because it cannot stand the test of time, and it often fails to meet the expectations of sustained high growth for many reasons. There are two ways for high-valued stocks to return to reasonable valuations, one is to safely reduce valuations after several years of expected performance growth, and the other is to reduce valuations through stock price declines. Unfortunately, the market has adopted the second way.
Of course, although the track stocks are collapsing, some of them are only valuation reasons, which is different from the previous four points when most of them were empty concepts. When valuations are fully and completely adjusted to reasonable levels, there is still a part of the support due to the fact that performance is really rising, but this estimates that it will take time.
Li Daxiao said that the fifth high is still a little different from the previous four highs, that is, while sparing no effort to hype the track, it also spent the same effort to reduce the undervalued sector. This is an important difference, and it is also an important logic that cannot be equated with the first four points.
Li Daxiao finally said that at the beginning of 2022, due to the Fed's policy shift, under the leadership of the US stock market, the global market is carrying out a major adjustment, but the market still has hope, jun is not seen, The three forces of Chinese stocks, Hong Kong stocks, and A-share undervaluation are fighting back.
At present, whether it is the ChiNext board or the main board, from the perspective of historical valuation analysis, it is already within a very reasonable range, and some old investors know that the bottom of the market in the medium term is often not a specific number point, but a range range segment. This position bulls and bears will also carry out a very fierce game, Li Daxiao's view that the risk of the hot track has been fully released in the fall, but the index is not immediately reversed, it also takes a certain amount of time to digest the slow shock sorting, and finally for Li Daxiao's point of view, do you agree, welcome to participate in the comments in the message area.
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