The Next Bubble Will Sweep You Away.

This week, the market picked up the upside in the "new day", the size rose, while the winning rate of the new game dropped significantly. In a cautious voice last week, many investors chose to sell stocks to participate in the new game. Now, such a decision is wrong.

In the past two weeks, we have been optimistic. On the one hand, because of the underestimation of financial blue chips, the market is not as terrible as the K-line chart. On the other hand, the continued popularity of the new shares has kept the hot popularity. In the future, investors between the sea and the flames should start making choices.

In the face of the continuing boom in the growth enterprise market, some bigwigs began to question whether someone was saying, "this is creating value or destroying value". Some people began to take the initiative to control risk and ask for new funds to buy gem instead of 10%.

Let's take a look at some data. According to the latest two financial data released by the two exchanges, the current balance of financing has exceeded two trillion yuan. In the past one hundred trading days, the two finance has doubled, and from the perspective of capital preference, the two small board is more attractive to the financing customers.

From the perspective of individual stocks, China Ping An and CITIC Securities benefit from large market capitalization and more relaxed wind control parameters, so the single financing amount is the highest, but if the proportion of the circulation market is large, only a large number of GEM stocks will exceed 20% of the market value, and the volume of pactions will exceed 40%.

That is, many

Stocks are holders who buy stocks through financing, pushing up their stock prices and creating high turnover every day by buying and selling. This sign reminds us of the "stock market" and "knocking" in the bull market in 2000, that is, the chips are highly concentrated, and then financing can be carried out by pushing the exchange of seats and seats or different people.

。

Recall 2000

In the first wave, NASDAQ on the other side of the Ocean Rose ten times. A shares were only heard for the first time that there was something called the Internet, and many stocks began to rise at the beginning of the net. After that, the Delong, the Chinese department and the Yongjin Department became synonymous with the stock market. In the end, because of the high financing cost and tight regulation, many of the stocks had plunged, and the stock market had been in a series of 10 down limits.

Now, although the Internet is very common, facing the price of hundreds of dollars, the bubble should be unquestionable. Only in the mode of operation, the low cost of the two fusion has created a bigger bubble. Suppose that if he had won the two financial loan of the securities company, the stock price would have been more than 1000 yuan.

At this point, we can not help but ask a question. If an enterprise controls its own stocks and keeps buying and buying, with the increase of market capitalization and refinancing and buying, will the stock price have no end?

At this point, we suddenly understand why there is a naked short selling overseas. It turns out that when a bargaining chip is not in circulation and the valuation is obviously unreasonable, a reverse rule is used to deal with. A rule of irrationality is enlarged at an indefinite time in a certain time. Imagine that if there are naked short sellers now, some Internet plus may become the favorite of short sellers.

Of course, in the face of a prosperous market, we feel that everyone is happy in the bubble. Since the bubble is growing, we believe that eventually we will flourish. What cycle stocks, blue chips and financial stocks will be reassessed in the current bubble, so if you do not enjoy the current bubble, then stick to your post and the next bubble will sweep you away.

Just don't forget to climb back to shore when the bubble breaks.