Industry Trends Are More Important Than Price Earnings Ratio Estimates.

The growth enterprise market has been promoted for 2000 times.

But on Friday, the gem showed a strong downward trend, and the stock market also quickly cooled down. Some market participants even thought that the 2000 point would become the head area of the gem.

On the short term trend, for example, two or three trading days or a week's trading time, the pressure of 2000 points did appear, mainly because the gem indicated that in the past two trading days, the volume was obviously wide, and the daily turnover reached 80 billion yuan. The turnover rate in the two months was also over 100%, indicating that the market chips were loose. Once the adjustment was made, the floating market pressure was heavy, and the short-term index did face greater pressure.

But for the medium term trend, the 2000 point is not the head of the gem.

The main reason is that the driving force of gem is derived from two points: one is the whole

Loosely, and due to the lack of new catalyst for rising market capitalization, liquidity has flocked to emerging industries such as gem.

In the future, liquidity will be further relaxed, and it is still expected that rates will be cut or dropped.

Therefore, the power to drive the growth enterprise market has not dissipated.

The two is the development trend of new industries.

For the current A share market, the industry trend is more important than the price earnings ratio valuation.

It's not just the fact evidence, for example, bank shares are only 5 times, 6 times.

But recently, no one patronized, and the gem emerging industry shares 70 times, 80 times price earnings ratio, still crowded, passionate.

And because the essence of the stock market is to anticipate the future.

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With the continued interest rate cut and the interest rates of some small and medium-sized banks float to the very end, these small and medium-sized banks have only about 0.4% difference between the five year deposit interest rate and the loan interest rate.

Therefore, the growth trend of bank stocks is not optimistic.

In contrast, emerging industries are in the cycle of the big bang, for example, the acceleration of mobile Internet penetration, the accelerated application of industrial robots, and the introduction of personalized medicine.

Industry trend is more important than price earnings ratio valuation, which is actually the core driving force for GEM listed companies to maintain overall growth trend of over 20% in 2014.

Under this background, the energy that drives the emerging industries of GEM has not changed.

That is to say, the rising trend of gem does not change.

Therefore, every drop is just a recuperation of the upward trend.

Therefore, the 2000 point of the gem is not the end of the gem, but the rest point.