First, let’s analyze the meaning behind this word. This “bull short” refers to a short rise, not a lack of space. The same is true for a bear, which means a long decline.

Open the panoramic K-line chart of China's securities market and find that it is indeed bullish short and bearish long. A large number of trading hours are constantly falling, and the rise is only a few short months. For example, from 2001 to 2005, it fell for four years, and it fell rapidly.

The rise lasts for one year, followed by the plunge for one year. The total time of the rise and fall is always smaller than the rise. What is the reason for all this?

The author believes that it is mainly caused by three major reasons!

1: The stock market has been subject to too many policy intervention factors. Since the establishment of the securities market, the market has been circulating in a vicious cycle of bailing out and suppressing the market. Whenever the market becomes frenzied, the big stick of suppression will appear. In fact, the rise and fall of the market itself

It has its own rules. If you don't interfere, it will eventually adjust itself. But our department likes to play the role of intervener, deify itself and dress up like God to satisfy its own vanity!

In fact, rather than saying that the intervention was successful, it is better to say that the inherent laws of the market are at work, so the skyrocketing fire appeared to be overcorrected after being extinguished by cold water. The increasingly depressed and deserted market forced the management to introduce favorable conditions to artificially divert the market.

, everyone will see that the market either skyrockets or plummets. In this cycle, policy has always played the role of promoter. Look at the stamp duty adjustment in 2008, the chicken crow in the middle of the night in 2007, the People's Daily editorial in 1996, and 94

Although the intervention of the three-no policy in 2018 could not hinder the final operating pattern of the market, it was obvious that it created short-term surges and plummets!

2: In fact, investors have always lacked confidence in the Chinese securities market. Once they encounter systemic risks in the market, selling will become an inevitable choice. Why do they lack confidence?

In fact, too many investors have always believed that China's securities market is a big casino. The root cause is that most listed companies are always eager to make money. The overall market lacks a benign mechanism for dividend distribution.

The return market has no investment value in its essence. It is just a drumbeat of chips, and natural landslides are commonplace. Although there are stock index futures, securities lending and short selling, the author believes that the deep-seated contradictions cannot be resolved. Just rely on a few short-selling tools.

It will not change the nature of the sharp rise and fall of China's securities market!

Three: The Chinese securities market has always been full of trend traders. In fact, trend traders are a false proposition. The market is mysterious and unpredictable. The premise of trend traders is that they can discover trends by themselves. This is contradictory to the fact that the future is difficult to predict, so

The author believes that trend traders are just synonymous with chasing the rise and killing the fall. Because investors and traders lack the judgment of the trend, they can only avoid it by chasing the rise and killing the fall. So you can see that once the market appears a round

When there is an upward trend, a large number of investors will follow suit. Under the Matthew effect, skyrocketing will occur. The law of the market is that a skyrocketing must be followed by a crash, so we can all see that the market often rises after a short period of skyrocketing.

, the investors who came in first began to make profits and exit, and the remaining small and medium investors resisted, so the market began to decline slowly again, and the game of skyrocketing, plummeting, or negative decline was repeated one after another!

The above three major reasons constitute the core reasons why the Chinese stock market is bullish and bearish. The reasons that are not mentioned are not the main core points. From now on, the debate among Chinese securities theory circles on why the Chinese stock market is bullish and bearish is over.

The author hopes that the management will actually increase its efforts to promote the in-depth reform of China's securities market. Otherwise, China's securities market will be just a patient in a bright coat. Once the cold wind blows, he will immediately fall to the ground and the kind-hearted ordinary people will be hurt.

Investors, insurance companies, public funds, and even private equity funds, like small and medium-sized investors, are basically people's savings funds.