Is it a stick or an evacuation? Deep adjustment of the enterprise's troubled pioneering board

The first three quarter of this year the Crazy rising gem, after experiencing the October 10 1423.96 points of the height of the cold ", all the way collapsed, began a round of drastic adjustment, in the past two months out of an ugly shallow W-shaped, the lowest point to 1191 points, the decline of more than 16%. As of December 20, the gem fell 170 points, or 11.96%. Chasing the high Growth Enterprise board many institutions are troubled to review the 2013-year a-share market, the gem is not the suspense of the year's most dazzling star plate. From December 4, 2012 to the low point 585.44, to October 10, 2013 in the history of the highest point 1423.96, the gem in a query sound crazy rise, the irresistible, in less than a year to 143%, and the tepid motherboard is entirely separate. With the stock price rising, the overall valuation of the gem has been pushed higher, some of the fried stocks, valuations are record highs. However, under the lure of wealth effect, institutions such as funds have shown an unprecedented upsurge of interest in the gem. Data show that, at the end of the three quarter, the institutional ownership of the market share of the stock as high as 51.12%. Gem before the top ten circulating shareholder data show that 355 gem companies, 284 of the top ten business board stocks listed in the list of shareholders are the body, the total number of shares in 3.623 billion shares. At the end of the third quarter, public offering fund heavy warehouse 232 gem stocks, the circulation market value reached 165.413 billion yuan, to create a fund holding the gem position of the historical high. In the fund's three-quarter increase in 237 stocks, the Gem shares a total of 59, accounting for up to 1/4, of which the proportion of overweight more than 10% of 11. In addition to public offering funds, flocking to the gem, there are also known as the value of investment in the National Social Security Fund portfolio and qualified foreign institutional investors. Some insiders said that the agency was initially involved in the gem may be due to value the growth of some stocks, but now fear has evolved into a capital-driven bubble feast. A group of three quarters of heavy warehouse to kill into and adhere to the institutions will be in the four quarter to drink gem hidden good poison. Ups and downs of the Organization to sing the protagonist has been known as false board, "Circle Money Board", once a hot potato, "The gem, why has become a flock of sweet cakes?" economic growth and liquidity conditions have remained relatively stable, trading indicators have not significantly deteriorated, the gem and why suddenly ebb and flow between the "stampede" groan sound? Comb the gem of the top ten circulating shareholder data of each quarterly bulletin it is not hard to find that the agency in this crazy hype game, the work must not be, became the history of the undisputed protagonist of the drama. 2009, according to the disclosure of annual reports, although the gem Company's performance is significantly superior to the motherboard and the SME board. But the company's top ten circulating stock shareholders do not have a social security and Q FII figure. There are only 3 companies in the top ten circulating shareholders in the fund, there are 6 companies in the top ten circulating stock shareholders appear in the brokerage. The total number of gem shares held by the institutions is 35, with a stock market value of 3.2 billion yuan. Subsequently, the machineThe number of enterprise-owned gem stocks continued to climb, as at the end of the three quarter of 2013, the institutions held a total number of gem shares of 339, the stock market value of 246.8 billion yuan. One industry personage said, it is clear, this round gem's rally mainly by the organization participation. Public trading information shows that every day, the enterprise board stock, institutions are the main buying and selling. Blue-chip is good, but the plate is too big, not enough money, can be as a thing too little. The gem can be manipulated much more. Therefore, the gem of this wave adjustment is mainly related to the early speculation of the bubble is too big, is the early super buy after the pressure. Stick to the withdrawal of the organization of the larger differences according to an unnamed industry personage revealed that many heavy warehouse gem four-quarter performance, is the race who run fast. Recently, many organizations in the reduction of gem stocks, low tide trend is very obvious, not timely sale of the institutions will encounter early profit back vomit, heavy losses. In the gem bubble burst behind, is the gem growth of the expectations of the frustration and the collective withdrawal of institutions. According to nearly three months billboard data, the previous Gem star stock, but now frequently by institutions abandoned. According to statistics, Huayi Brothers (300027, shares bar) three months to list 20 times, the total amount of net sold by institutions over 1.1 billion yuan, Palm technology (300315, shares bar) on the list 29 times, the total amount of net sales by the agency is 180 million yuan. Huayi Film (300133, shares bar) on the list 22 times, by the agency net selling total of 250 million yuan. Star Model (300043, shares bar) List 17 times, by the agency net selling total of 120 million yuan. Le video Network (300104, shares bar) list 32 times, by the agency net selling total of more than 27 million yuan. However, the recent struggle of the gem has made the views of the agency different. A considerable number of institutional investors still actively optimistic about the long-term performance of the gem, that should be adjusted to the machine to comfortable "price, buy real growth stocks. Capital flow data show that in this small rebound, the gem for several consecutive days by the main fund net inflow. There are insiders analysis, in the economic situation is weak fundamentals, the rise of large stocks or still need time. Growth stocks or the main line, cyclical industries to serve the growth industry, to increase the cycle of large stocks can, but not style conversion.