Jufeng micro strategy: 800 points into a new technical bear market after the gem opportunity to come?


According to PMI data for two consecutive months, the economy has picked up somewhat, but the overall situation is still negative, and the downward pressure is still large.However, the rebound in data may provide a short-term boost to the market.In addition, supported by relatively stable fundamentals and liquidity, the overall market remains on a sound footing.After the central bank cut reserve requirement ratio and LPR in the fourth quarter of last year, the central bank lowered MFL and reverse repo rates in the beginning of the year, gradually starting the monetary easing cycle. With abundant liquidity expectation, the overall market is still boosted.In the short term, Oriental wealth plunge drag securities plate, the impact of gem refers to the market at the same time to bring emotional suppression.However, the current security plate fundamentals are good, performance support is obvious, there is still a good foundation.Gem refers to once again ushered in this round of adjustment to the new low, but with the slowing down of ningde times, is expected to shock bottom is still the main tone.Today, Shanghai and Shenzhen both lower open, after the opening of the rapid pull up, shenzhen index turned red.However, in the financial stocks go down, the two cities immediately rushed high fall.And after the rise of more than 1% of the growth enterprise market, also in the subsequent dive in the continuous low, another new low since the month before last year.On the board, food and beverage, textile and clothing, defense and social services were the biggest gainers, while non-silver financial sector fell, construction materials, real estate and banking fell.Last week ningde times a week down 17% has made the market hair-raising, and today Oriental wealth a day down nearly 15%, directly drag the GEM index hit this round of adjustment new low.Not only that, the decline of eastern wealth, directly triggered the decline of the securities plate, and then the formation of the market restraint.On the whole, Oriental Wealth has no obvious bad news. The current performance of the securities sector is also relatively excellent, and the valuation is not high, so the overall performance is cost-effective.So, in this case of a big drop, do not panic too much.In the past, Oriental wealth past drop limit, gem has greatly small rebound or bottom.For example, on February 3, 2020, the GEM index rose sharply after falling by the limit; on May 6, 2019, the GEM index rebounded after falling by the limit; and on September 10, 2018, the gem bottom region rebounded after falling by the limit.Although Oriental Wealth did not fall the limit this time, but has already exceeded the previous 10% decline, after this fall, how the GEM index performance, we wait and see.It should be noted that after the clarification of a number of rumors, ningde times line near the short-term stability, the decline since last week has been temporarily eased, also contributes to the growth enterprise Index decline slowdown.And in the continuous adjustment, many growth stock valuation is relatively in place, in the current overall economic growth pressure is greater, the variety of high prosperity still has a certain scarcity, the industry high prosperity and performance boost, the current price performance gradually emerged, or the next stage of the main force of the rebound.Among them, for example, the overall performance of the semiconductor industry chain is good. In the development of the imbalance between supply and demand is expected to promote the performance growth and the support of domestic substitution, there is still a mid-term certainty. After continuous adjustment, it is worth tracking, or it will boost the GEM to stop the decline.Therefore, after continuous adjustment, we are not pessimistic about the market.On the contrary, at the end of the mood approaching, the market stage multiple “bottom” to usher in resonance, repair market and spring market is expected to open the prelude, the current can consider the first quarter of the latent market and configuration.However, it is still necessary to pay attention to the rhythm of the market, especially under the positive cash of banks and other financial stocks, beware of a small fall in the short term, can be tentatively concerned about the fall of the outstanding performance of science and technology stocks.(Author: Guo Yiming Practicing Certificate: A0680612120002)

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