Shanghai Composite Index: 777-point Story

-Wenching thanked the Huiyuan fund company for providing such an opportunity for us to review the history of the Shanghai Composite Index and the authors of the Shanghai Composite Index to revisit the spectacular development of the Chinese stock market. I'll just take this story with a point or a line between me and the Shanghai Composite. This is a fragment of the Shanghai Composite Index 16 years ago, from the July 22, 1993 of the "China Securities newspaper", but not like almost anything can be found on the Internet, to find that the majority of the newspaper is the library and reference room, I am very sigh, because the day of the "China Securities newspaper" published my article, 　　It binds the Shanghai Composite Index 777 points firmly to my name. 16 years ago, it was supposed to be a little more "old." The new shareholders may not be very impressed, but we can recall that I entered the stock market is very story, I do not like other investors take money into the stock market, I was with the computer-when the fashionable laptop into the stock market, To know that the early Shanghai stock market showed no image only one line of market data, as the most popular computer engineers in the early 90 unexpectedly with the "speculation" suspected of the stock market together, the natural story, by the large number of small people chasing, body also more Halo, 1992 "Youth Daily" There is a full version of the story about me and some of my intellectuals in the stock market activities, the article title is very gimmick "computer killer into the stock market." Now everyone will use the Qianlong software is the use of computer analysis after the stock market was introduced, from Taiwan's money rat into the mainland money dragon.　　It was like being a leader and using High-tech in the stock market. At that time, the brokerage of Shanghai Beach was shenyin, the nations and Haitong, I am in one of the Shen Bank Securities Company to work, the content of the work is to guide customers to do stock and sales department stock self-employed (now the sales department is a computer room compared with the original), but also in Mr. Chen Qiwei created by the Asian Business Investment consulting company concurrently Securities consulting work, Soon appointed as the Vice-President of the company in charge of securities consulting business, it was "The Burning Years": the day to see the stock market, at night in Shanghai, the second University of Technology to open a "stock market technical Analysis" course, with the stock market, our curriculum is always full, each period of 80 people to 100 people, continuous class, The technical analysis of Shanghai stock Market has trained a group of people who can analyze the stock market with technical analysis method and go to the whole country. Some media have said that I was the first group of analysts in Shanghai, but I prefer to be called one of the first technical analysts in Shanghai. Every week there are several fixed stock market salon analysis of the Shanghai Composite Index, located at the time of the city government Waitan building at the back of a hotel named "Golden City", now is the back of the Pudong bank. Friend Xie Baisan in the book "China Buffett" recalled that "a week to ride more than 10 times to Jin will listen to Wen Xing class, whether it's a hot summer or a stormy day. In Chen Qiwei first-term editor-in-chief Ching successor editor of the" one-week investment "has a fixed column, that is, the magazine back cover" trend analysis "specifically for the Shanghai Composite Index for technical analysis。 　　These are the days when I grew up with the Shanghai Composite. July 22, 1993, "China Securities newspaper" published one of my article read many articles, "Ask the bottom of Shanghai where?" "The title of the article is borrowed from the TV series" Journey to the Westward "theme song's name, said is the bottom is coming. We know there are three main methods of technical analysis, first, the volume price analysis, the second is the index analysis, the third is the morphological analysis, at that time I in "China Securities newspaper" The article in the form analysis method analysis, to the Shanghai Composite Index since February 1993 farewell 1558 point Adjustment carries on the future forecast, I have used two paragraph to adjust the N shape analysis, The calculated conclusion is that the Shanghai Composite should be supported at 777, and the article said, "The bottom of the Shanghai Composite is Hitachi's TV---777", why do I use the phrase "Hitachi TV---777"?　　Because at that time this television is big advertisement, also is selling, give the reader the impression is very strong. The article is published, the prediction was released in advance, but in the macro-control of the fundamentals of the stock market is still falling, there is no one like to stop the appearance of the fall, but that year July 27 a wonderful situation, opening 789, silent 780 broken, In the afternoon, the Shanghai Composite Index slowly underground to 777.73 points, strange, stopped falling, the Shanghai Composite index no longer down but 780 points, 790 points, 800 points in turn, the last close at 791.62 points! The Shanghai Composite Index has 777 points to support! The phone calls to the east and the west are called to ask if I can remember the day after the close of the Shanghai TV station to do stock market analysis program friends call, and then asked my opinion, the answer is the bottom or a very important position. That night the TV was talking about the 777 question and my opinion. The next day, the third day of the closing position of the Shanghai Composite Index 777 points above the 799 point and 800 points, three days of validity confirmed that the market recognized 777 support, but also a discussion, all kinds of speculation, but the result is one that I and the Shanghai Composite index of 777 together. One of the triggering chain reactions is the unprecedented spread of technical analysis, but also in some newspapers and media has sparked a discussion of technical analysis, such as whether the main force will use technical analysis to cheat line ah, how to counter technical analysis to profit and so on. 　　In short, the 777 points of the Shanghai Composite Index at that time and understand the situation of the friends in the mind is not a point, but a way everyone can learn to use the method, but also about listening to the news and how to make money related, of course, and a Shanghai is said to be a handsome young man. Here is also a joke, but also the real thing: once on the wine table with two new friends to see my eyes a little special, and curiously inquired about my son's age, because no matter how I looked at it as if my son would not reach the age of being able to do stock and instruct others to do stock, I asked repeatedly to know It turns out that someone who only knew my name and didn't know my age was pretending to be my son."Others fry!"　　Funny, I also advised friends do not have to be angry, right when the game, and later I also served as a TV financial report guest presided over, and the public face cooked no longer heard someone "willing" to impersonate my son. The Shanghai Composite Index fell again three months after the first low of 777. October 25, the minimum of 784.97, after 777 points called Shanghai stock Market Important reference point, on its bottom, under the top, this trend maintained for more than three years until September 19, 1996, the Shanghai Composite Index will never see more than 777 points. After years of meeting with friends in Shenzhen, they will also pull my hand laughing three seven. But in Shanghai, 777 of legends almost disappeared. In fact, not to say that Changjiang, and before the wave disappeared on the beach, now I on the beach and old friends again 777.