The market has been running a bull market for two and a half years. Judging from the transformation of bull and bear, 2006 is a crucial year for the establishment of bull market technology. Therefore, the real bull market lasted 1.5 years. Taipei believes that this round of big circulation waves can run for 30 trading months. Since May 2006, it has been running for 19 trading months. Taipei believes that this institutional change that promotes the bull market plus two wheels has basically not changed, and the internal driving factors are still strengthening. The reasons are as follows: 1. The local currency appreciates externally and depreciates internally. This is one of the fundamental reasons for liquidity, and it is also the obvious change of the whole macro-economy in recent years. Its key impact is asset prices. Liquidity is a general term. For the stock market, liquidity will continue all the time. There is a trend of phased flooding. Although the capital market is different from the non-renewable property market, its asset attributes will provide good conditions and motivation for the market to move forward further in the future. This trend will not appear in the foreseeable year of 2008. The current account surplus will continue to run at a high level. Behind the surplus, the industriousness of China people is related to traditional ideas, which is an unchangeable trend. Fixed exchange rate will inevitably strengthen external and internal mechanisms. Therefore, it is crucial for Americans to ask us to reform the exchange rate system. The change will make the capital market lose a wheel. 2. In the future, the position and function of capital market will gradually transition to full circulation market, which will have a negative impact on corporate governance. Capital equity and overall market efficiency have brought about positive and far-reaching changes. Our market is in this process. We should see that asset prices fluctuate from time to time, but the overall efficiency of the company and the overall transparency of the market are improving. Now that 2008 is near, many people expect that the benefits of enterprises will drop sharply in 2008, and Taipei is not convinced. There are three simple reasons: a. According to the classification of a.CPI, inflation will be transmitted. The benefits of downstream enterprises, including the service industry, will rebound or even improve. This piece contributes the most to GDP, and will rebound the gross profit margin of the "world factory" in 2008, thus continuing to boost GDP. B under the new accounting system, the hidden assets of many companies will be gradually improved. Investment assets are also assets, and repeated investment will make the investment income sustainable, at least in recent years; C.08 is considered to be the year with the strongest restructuring of central enterprises, and it is also the year that can best reflect the barometer of the national economy. The high economic growth will be more comprehensively reflected in the stock market. Monopoly has a phased premium, so how can better economic growth reduce the overall return of the stock market? ... some people think that the American economy is not working, which will definitely drag down the domestic economy. Taipei disagrees. Its influence is getting smaller and smaller. Despite the high dependence on foreign trade, the share of the United States in the total domestic and foreign trade exports is declining. However, foreign trade exports may not necessarily decline. Moreover, it is hard to say whether the American economy really weakened in the later period. Taipei agrees with the turmoil in the financial market. Just a normal phase adjustment. The real economy will still benefit from the sustained and slow rise of BRIC countries. Investment behavior and income caused by dollar status. 3. The internal game stage of the stock market. You can take a closer look. Today, these three heads are all caused by policy repression. Then bounce back and fall again. This time, the management continued to conduct risk education above 6000 points. This head was suppressed by the policy. This tells us that we must follow the management. But at the same time, the market. It is not the result of the final confrontation between the long and short sides. Now many people are waiting to buy stocks even when they come out, instead of not playing stocks for n years. You can't see the continuous increase in the average daily account opening and don't look back. You don't see the global currencies competing to depreciate and promote adjustment. The top of the market must be ground out, not suppressed by policies. Stock index futures will aggravate the advantages of many parties and the chips are scarce. The assets behind the chip must be scarce in the future. Of course, it can be predicted that before the middle of 2008. State-owned shares in the later period are an unpredictable variable. The proportion of non-tradable shares is too large. If it is not suitable, there will definitely be some deviations in the hardships and heights to be taken on the road to new heights in the future. As long as the internal driving force of the stock market exists, bulls will definitely play short positions and add positions in stages. Taipei insists that the trend of stock index futures is bullish. You can carefully study Japan in the 1980s. The driving force of its internal game is the same. 4. The role of the stock market. Everyone has seen a lot of PE and PP in the current market. The reality is right, but Taibei also thinks that corporate governance is an urgent need for reform in China. We must rely on corporate governance to truly become bigger and stronger. Now the market is so well managed. The management with a sense of urgency believes that the market will further strengthen the system construction after the share reform. This is the only way to effectively enhance the market competitiveness for a long time. The share reform is not over yet. The market is undergoing profound changes. Facing the best opportunity in domestic history, I believe that a large number of enterprises will really grow up and go well. I also believe that the China stock market will get higher and higher.