Despise All Those Who Didn't Dare Buy N-CIMC at 15 Yuan and Now Sour-Grape at 50 Yuan!
2006/6/19 16:45:17
Everyone knows N-CIMC is the apple of everyone's eye — there hasn't been a new face in over a year, and suddenly a new one appears. What's wrong with everyone getting excited? Is it worth all the fuss from certain people? Despise all those who didn't dare buy N-CIMC at 15 yuan and now sour-grape at 50 yuan!
Today the stock had over 90% turnover, meaning essentially all lottery winners have sold (counterparties included), and the vast majority sold at around 10-something yuan. That's their choice — you didn't believe in it at 10-something yuan, but someone else did. The market is open to everyone; why shouldn't they be allowed to buy? The market is a game of psychology. If everyone thought alike, would anyone survive?
The fierce surge in the afternoon — what's so surprising about that? When the buying force in the market is overwhelming, and due to the T+1 rule there aren't enough shares to supply, having to chase up to 50 yuan to buy a few million shares — isn't that perfectly normal? Please note, today's average price was around 18 yuan. The average price didn't surge dramatically, so any talk of speculation is shameful! And with nearly three hours of free buying at 10-something yuan, those who didn't buy and now try to stir up trouble by calling for regulatory intervention — I despise you!
China's capital markets have had far too many pointless and baseless interventions. Cases like the 327 incident where the final trades were invalidated — truly unheard of in the world. The most critical thing about markets is that everyone follows the rules — including the regulators. You can't interfere with the market based on your whims. Even if there are trading problems, punishment should be based on the trading issues, not suddenly changing the rules to showcase your own incompetence.
As long as it complies with market trading rules, all price action — including N-CIMC — should be protected by law. Since legal awareness is currently far too weak, with a tendency to substitute personal preferences for legal judgment, this must be emphasized once again. As for market participants, don't cause a ruckus just because you missed out. Not being happy for others' success is not the mindset of a good market participant. Only when one flower blooms can a hundred flowers follow. Protecting an environment governed solely by law benefits everyone!
Preview: Tonight continuing with Teaching You to Trade Stocks Series 4: What Is Rationality? Buying N-CIMC This Morning Is Rationality!