Style conversion difficult market struggling to move forward

Golden Lark Investment Chief analyst Qin Hong this week a-share market wide shocks, first formed the trend of black Monday, but then only used two trading days, the Shanghai Composite Index on the new high.　　However, the weekend again into the surge after the setback of the strong shock posture, then, how to view this trend? For this week's a-share market so wide shock trend, style conversion there is the possibility of unsuccessful, why? Because the market base of the A-share market is larger than the 2007 two or three quarter, it is a vigorous economic cycle, blue-chip rose has a strong economic base at the same time, the new fund issue is also highly sought after, for the blue chip market injected a steady stream of follow-up power, thus quickly made the Shanghai index out of • A 30 plunge in the shadow of the market and hit a record high of 6,124 points. But the current a-share market, not only the economic base than there is a big difference, such as media reported in the early May generation of electricity output fell 3.9%, and China's April total electricity consumption fell 3.63%, March the data is 2.01%, so the data show that the economic restructuring has not yet ended. Moreover, the Fund is not the same, the current new fund issue rhythm is fast, but the issue is not hot, not to mention, the April credit growth only less than 600 billion yuan, such a hard landing data will affect a A-share market follow-up funds supply, in this case, blue-chip short-term difficult to replace the theme investment　　So that the market has a hot spot not connected to lead to a broad market trend of the characteristics of wide shocks. And, from the plate, because the style switch is difficult to form quickly, so, the market is likely to form two camps, one is the fund's blue-chip camp, the second is the focus of the theme of investment camp, the two camps will be repeatedly competing for funds. On the one hand, due to the hard landing of credit growth, the speed of capital inflow decreases, on the other hand, the sound of the movement of the gem is becoming clearer, and the pressure of capital diversion is also beginning to appear, the level of the current total amount of capital has changed from the previous months, which means that it is difficult for the two camps to obtain the cooperation of new funds Therefore, the market in the capital struggle or there is the possibility of further adjustment. Only because the weight of stocks in the near future is still the price of the catalyst, so, do not rule out the short-term market is still struggling in the possibility of moving forward. However, investment opportunities in the lower, it is recommended that investors in the operation can reduce the position, reduce operating frequency.