This month, 1,697 fell by 30 points +, 3,574 fell by 20 points +, and the median decline was 2575%, 265 in red plates.
That is, 32% of companies fell by 30%+, 68% of companies fell by 20%+, and 5% of red plates...
It is difficult for the top of the bull market to have this decline in the short term, the market has been falling for almost a year, and there can be a collapse and fluctuation trend of broken leverage and circuit breaker, and A-shares have refreshed the three views.
This is much more outrageous than the continuous circuit breaker of the US stock market at the beginning of 20 years, the US stock market has been bullish for so many years, and the continuous circuit breaker has fallen from 20,009 to 10,008, in fact, it has fallen by more than 30% in more than 1 month, and there is a strong ** in the middle. A-shares have fallen for three consecutive years, and some of the broad bases have been cut in half, and they can still play like that.
With this trend, many market analysis books can be thrown directly in the trash. Because it was found that there is really a black swan, which can surpass the backtesting of all markets and varieties, the low level is so down, and what is even more outrageous is that it can ignore the resonance of the global bull market trend and reverse the decline. This difficulty is like a 15-year bull market, and it is so outrageous ......to be able to knock a ticket down and stop in a row
The most important thing in the financial market is the certainty of high probability that can be backtested, and can easily reach the extreme volatility of fast six sigma (the average annual volatility of the market is about 16%, and the monthly volatility is 4.).62%，25.75% is 55x variance! It can only be said that there must be a big problem in the trading system of A shares, and the short-selling industry chain is extremely complete and developed, and some people have benefited greatly from it and hindered reform, otherwise it is impossible to explain this pathological and **.
Author: Jiang Guangce.
*:Snowball.