Just when investors lamented that the quarterly earnings of All Access Education (Quote 300359, Consulting) were inconsistent with the stock price and believed that its bubble must burst, All Access Education responded to the market with two consecutive daily limit increases. Yesterday, the popularity of high-priced stocks was unabated, with 10 of the 30 100-yuan stocks in the two cities hitting their daily limit, and the myth of "magic stocks" continued to play out.
Institutions are still long in the "magic stocks"
All Access Education has "educated" investors again. Yesterday, QTO Education raised its second consecutive daily limit. The company has just released its first quarter report, with net profit of only 5.7 million yuan, a decrease of 22.71% from the same period last year. However, institutions continue to be optimistic about its concept of online education.
Industrial Securities (Quotation 601377, Consulting) believes that "All Access's leading advantage in the field of K12 online education is expected to continue to increase. It is expected to cover 100 cities in 2015, serving 5,000 schools and 5 million student users. The advantage of user scale continues to be highlighted. "Although the valuation is relatively high, we continue to be optimistic about the prospects of the K12 online education industry and the company's control of traffic entrances and O2O layout. The future user and market scale are expected to continue to grow, and we continue to maintain the 'overweight' rating."
Minsheng Securities said. , "'Internet + Education' has become the new normal development strategy. All Access will insist on external expansion and maintain the 'strongly recommended' rating." On the day
plummeted on April 20, All Access Education's transaction returns showed that there were three other institutions Buy big against the trend.
Deep capital involvement
Driven by QTO Education, 7 of the 100-yuan stocks on the GEM have closed their daily limit, and high-priced stocks continue to be hot. Why can these "magic stocks" continue to rise when management warns of "mad cow"? Ye Fei, investment director of
Yitian, told reporters that Quntong Education has surged because, first, the concept of "online education" is a hot spot in the market. Second, currently, high-priced stocks are frequently sold out, and Quan Tong Education has given up the "throne" of the highest price. Third, the negative effects such as poor performance have been exhausted. The most critical point is that funds are deeply involved and have complete control of the market. This is also the common feature of high-priced strong stocks. Judging from the transaction returns, there are still institutions that continue to buy. If large institutions do not short-sell, retail investors will not be able to bring down the stock price.
Ye Fei believes that high-priced stocks are now blooming everywhere, which is good for both listed companies and the main speculators. When the stock price is high, it is beneficial for the company to raise funds, make additional issuances, and get loans. By merging some companies, the performance can be improved, and then higher allocations can be made to even out the stock price. As for the main force that drives up the stock price, it does not need to be cashed out through shipments. It can be realized through equity swaps, pledges, etc., without affecting liquidity. The market atmosphere is hot now, and the bull market will not end so soon.
"There is another point that cannot be ignored. These 'magic stocks' are sector leaders, and even market trends, and cannot fail. By raising them, on the one hand, they can easily lift the same sector, and on the other hand, they can greatly stimulate Market sentiment. This is also an important reason why Quantong Education and North-South Railway cannot fall," Ye Fei said.
Market speculation is too fanatical
"The higher the 'magic stocks' are, the higher the speculation is, indicating that the market is too fanatical." Li Daxiao of Yingda Securities believes that at the 4400 point line, the average price-to-earnings ratio of 2368 A-share stocks except the CSI 300 is 79.75 times. It is very close to the 82.02 times at 6124 points; the dividend rate is 0.37%, which is already lower than the dividend rate of 0.46% at 6124 points. Because blue-chip stocks such as the CSI 300 and SSE 50 are still far behind 6124 points, the valuation of small stocks has been lowered, which has also caused investors to be too vigilant and unable to see the risks.
Ye Fei predicts that the Shanghai Composite Index will have an adjustment of 10%-20% at the 4,500 point level, and the GEM will also see the same level of adjustment, but it will rise faster. The current market atmosphere is hot. If you go short easily or sell futures too early, you will easily incur losses. There are two ways to "go short and go long". One is to continue to fill the position, but be prepared to lose 10% of the profit at any time, and sell decisively when the market turns. The second is short-term operation with half position. You can sell the stock when it opens high in the morning. If the market is normal and there is no big drop in the late trading, then enter with half position and short-term operation. In this way, the risk can be controlled without going short, and the mentality can be improved. Relatively stable.
