Hello everyone, the following is the 03/18th Pharmacist Tool Strategy Review
(1) Grid trading tools
The grid trading instruments triggered today are travel ETFs, bank ETFs, and Hong Kong securities ETFs
There are relatively many grid varieties triggered this week, and there is finally a break on Friday, and today there are only three varieties triggered.
Travel ETFs sold one block high yesterday and bought one block lower this morning
The tourism sector and the epidemic are more related, or the view mentioned before, every time the epidemic mood falls and panic is a better opportunity, I firmly believe that our country can still control the epidemic very well.
Although the government has also successively introduced policies such as the bailout of the service industry, at the same time, epidemic prevention policies such as antigen self-testing, oral special drugs, and isolation rules are also being continuously liberalized, which will accelerate the recovery of the tourism sector.
However, the National Health Commission also came out and said that the revision of the previous diagnosis and treatment plan did not mean that the prevention and control policy was relaxed, and it was still adhering to the "dynamic clearance".
At present, the epidemic situation is still likely to recur, or it will affect the trend of the tourism sector. At the same time, the degree of recovery of the tourism sector after the epidemic still needs to be questioned
Taken together, the tourism sector has good and bad aspects, and the probability will still maintain a wide range of oscillations
Bank ETFs sell one block
Today's market after the opening of the market at noon the trend is much stronger, driven by low-value sectors such as banking, infrastructure, real estate, insurance, etc., rapidly turning red, during which northbound funds are also accelerating inflows, with net purchases of about 8.4 billion yuan throughout the day
However, most of them were traded at the end of the session, and today's FTSE Russell Index constituent stock adjustment led to the passive repositioning of foreign funds
Banks, real estate, infrastructure insurance is more eye-catching, may be the capital in the game has a steady growth policy out
Hong Kong securities sell one block
At one point in early trading, it rose 2.7% as of the close, and the grid also sold.
Pull up at the same time as A-share brokers, today is a rare synchronization, but these days or Hong Kong securities are fiercer, the reason is that the previous follow the Hang Seng Index fell too badly.
Today, there are large fluctuations on the disk, and there are two industries related to the grid variety, one is the battery, and the other is the military industry.
In the battery industry, we often talk about it recently, and the upstream price of lithium carbonate has not moved much. This is a good thing, but even better is that it is best to be able to turn downwards, and today finally came, and the price of lithium carbonate in Wuxi electronic disk fell by about 6%.
It popped up after the hours, and it was the relevant departments that shot it.
After all, such a high price, the downstream impact is very large, this we can review the previous statement, the price of lithium carbonate still needs to continue to maintain observation, the downward inflection point of the large cycle conditions are not yet available
Today's turn down lithium carbonate is a stimulus, and battery stocks that have fallen more often because of raw material expectations have rebounded intraday
Looking at the military industry again, today's highest time fell almost 3%, closed back to 1.35%, from the index level is fine, but to the plate Zhenhua Technology as an example, the amplitude of the day is quite large, during the highest drop stop of 10%, but the closing closed up 0.78%
Zhenhua just happens to be a military stock with more institutional positions, and from today's fluctuations, the divergence between institutions is very large
The institutions that sell today are mainly worried about several aspects:
Still taking the example of Zhenhua, comparing the highest price with the lowest price, Zhenhua is actually only about 15% of this retracement
Compared with other retracements of more than 30%, or waist chopped boom sector constituent stocks, now your valuation is obviously not cost-effective
Other industries have data to track every month, and even from a certain aspect can be seen marginal improvement, such as the battery I mentioned above, the price of raw materials has changed, but you have no news from the military industry
There is no news, and it is worried about the performance problem, and then superimposed on the problem of the military industry sector in the first quarter facing the problem of a high base of last year's performance. And you still have the example of the previous pressure performance of the CHINA Aviation Department, so will it still pressure the performance this time?
Buying institutions also have their own logic:
The military industry can still maintain a high degree of prosperity, this year's performance growth rate as long as it maintains about 30% can meet expectations, corresponding to most of this year's FPE is also around 30-35 times PE, the valuation is not expensive.
The pressure on performance is to do equity incentives, to do fixed increases, this year's plan is basically going to come out.
The performance is high, but the orders of many military companies are tracked, and january and February are full, and at the same time, from all signs, they are working overtime to rush to deliver.
Even if the performance is delayed in orders, the performance of the first quarter is not good, the second quarter will also be released, and at the same time, there are institutional forecasts, in the context of stable growth, because many are state-owned enterprises, they may release performance in order to open the door
Overall, there are no problems with the fundamentals. Continue to be bullish
Each has its own reason, and the institutions that sell are mainly to avoid the uncertainty of the attributes of the military industry. Therefore, now we can only wait, there is no catalyst in a short period of time, so the game divergence will be more
Anyway, remind me that there is no logic 100% smooth industry, do not hang one of the industries alone, a certain dispersion is necessary
(2) Fund fixed investment tools
There is no operation today's fixed investment
(3) Convertible bonds to hit new tools
The two convertible bonds subscribed today have been notified to everyone through huiying
And today's listed Tong 22 convertible bonds, to the listing estimate of 133-135 yuan, the opening direct 130 yuan suspension, the closing of 129 yuan, the corresponding premium rate of 14%, I think the premium rate is a little low, may be the scale of the issuance, nearly 12 billion yuan, the first day of listing the pressure is obvious, suppressing the price
Of course, the market may also be worried that Tongwei's prosperity will decline this year, so the premium rate given is not high.
More details about, grid, fixed investment, convertible bond tools can be viewed in the bottom menu bar of the pharmacist pen talk --- get tools - to select
(PS, article various strategies summary for reference only, does not constitute investment advice)