Why is CITIC a big bear?
First of all, the short position you see in the stock index is not the position held by the self-operated department of CITIC Securities, but the position held by the customers of the futures company of CITIC Securities, so there is no clear evidence to prove that CITIC Securities is short. Secondly, including but not limited to CITIC Securities, 99% of the market future expectations released irregularly by all well-known domestic brokers are composed of the author's dreams, fantasies and nonsense. Third, customers who can trade the stock index futures of CITIC Securities are obviously the key customers of CITIC Securities, so their chances of receiving the future market expectation report of CITIC Securities market are higher than those of ordinary CITIC customers, and the release time of the report will be given priority, so they have a better understanding of the open market expectation of CITIC Securities, which is a very useful reverse indicator. Finally, because CITIC Securities' bullish expectations and consistent market feedback have strengthened its bearish confidence, it has the result of the suspected routine in the question.