Hong Kong Hang Seng Index rebounded to close to 28,000 points last week and stopped pedestrians. They once again fell 450 points on Monday. It seems that this wave of rally has ended. In the past two months, we have repeatedly repeated the trend of falling, rebounding, falling and rebounding. However, the trend of the market is basically a wave below a wave. The bottom of the previous wave is close to the 26,000 mark. If the trend is repeated, The chance of falling below 26,000 points is not low.
Recently, this trend of reversal and rebound has basically only followed the index stocks or large-cap stocks. Many of the small and medium-sized stocks have only fallen, and there is no rebound. Therefore, the main small and medium-sized stocks are just step by step, waiting for certain target shares. When the valuation falls to a very low price, it will only be absorbed in stages. It will not accelerate the deployment of the purchase because of the rebound in the market. Anyway, the current market conditions will not play much.
Continue to hold more cash waiting opportunities, still focus on small-cap stocks whose valuations have fallen to extremes.