易方达消费行业基金营

易方达消费行业基金营 伦铜继续大跌，道琼斯也在跌 市场结论:退出宽松的货币政策给股市和商品市场带来的 影响已经越来越明显，昨晚道琼斯指数跌幅超过1%，伦铜跌 幅扩大，下降速度加快。把握主要矛盾另我们提前看清市场转 变，更好的把握行情中期走势。 主要矛盾: 1月11日中国央行宣布自1月18日起上调存款准备金率， 标志着宽松的货币政策正式退出，控制通胀成为未来的主要矛 盾。 交易理念: 1.决定价格在一段时间里进行波动的只有一个主要矛盾和若干 个潜在的次要矛盾。主要矛盾不变或者次要矛盾未取代过去的 主要矛盾时，价格将按照主要矛盾的意志进行推进，次要矛盾 可能会产生一些干扰信号，我们将以审慎、严谨的态度把握主 次矛盾演变。 2.金融投资者参与金融投资的主要问题不在于预测，而在于跟 踪与执行，没有人能永远对，也没有人能永远错，重要的是投 资者做对的时候，如何跟踪,做错的时候，如何执行,我们将 努力以“客观为主，主观为辅”的原则，来协助投资者做好投 资品种的跟踪与执行。 板块行情跟踪: 金属系主力品种投资跟踪策略: 1. 螺纹钢在昨日基本金属大跌的情况下自身出现抗跌性，其具备成本支撑因素，所以下跌 的空间有限，其次上升空间也是有限，所以我们认为螺纹后市趋势机会不大。 2. 铜价自高点下跌已超过10%,受推出政策影响铜价回落明显，主要矛盾肯定是在中期对行 情产生决定性影响，我们认为铜价在后市仍会继续下跌，所以我们将把操作重点转向基 本金属。 操作策略上:今日开盘放空10%的沪铜1005合约，止损设500点 股指期货跟踪: 沪深300指数: 沪深300指数昨日震荡收高，技术图形看是下跌过程中的中继小阳线，判断行情后市跌势依然会延续。截止收盘，微幅上涨8点或0.25%，收报3206.6。全天成交640亿，比昨日成交减少65亿，成交量创09年9月30日以来四个月新低，后市如果不能有效放量，指数难以止跌上涨。个股方面今日多数个股上涨，航空和传媒板块表现较好，但是资源类股和金融股依然拖累今日指数，抑制了指数的升幅度，权重较大的交通银行已连续两天跌幅超过3%。 股指期货: 股指期货仿真交易四个合约中除现货月1002合约外其余均以红盘报收，1002合约将在2月12日到期交割(交割月的第三个周五)，昨日收盘下跌1.4点，收报3503点，与现货指数相差近300点，随着交割期的临近，现货月期指将逐步向现货指数靠拢。 主力合约1003合约昨日截止3点15分收盘涨20.8点或0.55%，报3819点，结算价为3810.3。成交和持仓进一步增加，全天成交近23万手，增仓5.5万手。早盘期指运行平稳，至现货指数收盘后期指出现交易异常，3点至3点15分，期指多头减仓急速拉升，量能急剧放大，虽有抛盘打压但是收盘仍创出日内新高。空头主动性平仓显示投资者对后市并不是很悲观，解除空头头寸或许意味着现货指数将要有所反弹，这也是股指期货的价格发现功能，股指期货往往能在现货指数在相对高点或相对低点时提前反应。 股指期货推进跟踪分析: 1.中登公司最新公布的2009年12月统计月报显示,截至2009年12月最后一个交易日,沪深两市有效账户数合计为1.47亿户,其中A股账户数1.38亿户。根据中登公司公布的季度末A股账户市值分布表显示,期末已上市的A股流通市值不低于50万元的自然人账户数为138.81万户。我们认为并不是所有的这些客户最后都会参与股指期货，但是前期股指期货参与者中大户会是主力军。 2.昨日，负责券商为期货公司提供中间介绍(IB)业务人员专项和考试的中国期货业协会，发布了第一阶段该专项培训的有关事项。上述通知显示，针cutters, ders,equipment: vibration machine, polishing machine, ramming machines, submersible pumps, electric hand Planer, hand drills, grinmotor: switch box must have leakage protection devices, leakage current 30ma/0.1s, 15mA/0.1s wet job (includes the following mobilege cable erection Derrick (gantry), scaffolding outside power lines above the water, all safety nets (Booth). 6, handheld or nity of overhead power transmission line construction, erection of bamboo protection frame. (2) in the vicinity of high voltacolor" line as the ground wire. 5, high voltage line protection: (1) in the vici-r cable core in the "black" or "green/Huang Shuango not use aluminium wire for grounding (neutral) wire joints by welding, crimping a reliable electrical connection. (3) rubbere, ddistance between two grounding, grounding resistance is less than 4 ohm. (2) ground (neutral) wires using insulated copper wigrounding electrode available angles, steel of not less than two, depth of not less than 2 m and not less than 2.5 metres in e: (1)tallations, use a rubber or plastic insulated wires must be knob cables set up, switch set. 4, grounding and zeroing devic(3) use mobile power tools and lighting are soft rubber cord, do not use plastic resin line instead. (4) temporary wiring insints. r located connector box. (2) rubber cable portable power tools, lead length not more than 5 m from the switch box, without jocable or plastic. Adopted at the lane or road protection pipe buried underground, set up signs, connectors must be overhead othed llumination", "welding". 3, electricity lines: (1) electric line, required for overhead installation of resilient rubber shea0.1mg/grid, and 0.01mg/grid, will signs made transparent film, loaded in pointer Shang, then, through optical zoom 10 times"i optic balance of sense volume General adjustable into 1mg/grid, and-en with "sense volume" to said: sense volume = mg/grid electrozero point. Balance of sensitivity General to signs of grid number to measure, that sensitivity = grid/mg but in actually oft epoint adjustment screw is the distance from the fulcrum nut quality adjustment nut to adjust the size of the moment change th-zerores sensitivity adjustment screw is to use the height to adjust the quality of the nut itself d the length of the horizontal asushaped, "Alice beams" in order to reduce the impact deformation, knock out heavy and light metal materials to relieve beam me-V contains key Onyx blade's "Alice beams" type, and balance beam made of aluminium alloys or titanium alloys light metal alloy.tion, Fulcrum Onyx blade slightly below the sensitivity adjustment screw located on the top of a vertical, set two zero point adjusting screw in the horizontal direc-ovate, hollowed out in the Middle, triangular-smooth). So, balance beam made of triangularand beam deformation, agate cutters of the fulcrum and the load point of the contact point (that is, agate and knife blades sharp . But the sensitivity of the balance are not only associated with these three factors, while carrying heavy loads and balanceivityof the scale is heavier, lower sensitivity, (3) pivot and the shorter the distance between the center of gravity, high sensit es the sensitivity associated with the following factors: (1) the long arm of the scale, higher sensitivity, and (2) the beamthat balanc 2 上海管理总部 对证券公司及其营业部中具有期货从业资格并拟专门从事介绍业务的人员及拟开展介绍业务的证券营业部负责人的第一阶段专项培训，将在下月1日至9日举行，共培训18场。报名已由各证监局组织完成，而具体地点和时间将由培训举办地证监局确定并通知学员。培训每期两天，形式为授课与互动交流，课程则包括IB业务相关政策法规、股指期货业务规则与、IB业务流程与风险管理、股指期货的应用、股指期货的风险控制。且每期培训授课结束后，将安排一小时的闭卷考试，考试通过者可获得协会颁发的IB业务专项培训合格证书。这就决定了证券IB业务推进不会太快的，先期投资者开户还是需要去期货公司开户。 请务必阅读正文后的免责申明 3 程序化交易 cutters, ders,equipment: vibration machine, polishing machine, ramming machines, submersible pumps, electric hand Planer, hand drills, grinmotor: switch box must have leakage protection devices, leakage current 30ma/0.1s, 15mA/0.1s wet job (includes the following mobilege cable erection Derrick (gantry), scaffolding outside power lines above the water, all safety nets (Booth). 6, handheld or nity of overhead power transmission line construction, erection of bamboo protection frame. (2) in the vicinity of high voltacolor" line as the ground wire. 5, high voltage line protection: (1) in the vici-r cable core in the "black" or "green/Huang Shuango not use aluminium wire for grounding (neutral) wire joints by welding, crimping a reliable electrical connection. (3) rubbere, ddistance between two grounding, grounding resistance is less than 4 ohm. (2) ground (neutral) wires using insulated copper wigrounding electrode available angles, steel of not less than two, depth of not less than 2 m and not less than 2.5 metres in e: (1)tallations, use a rubber or plastic insulated wires must be knob cables set up, switch set. 4, grounding and zeroing devic(3) use mobile power tools and lighting are soft rubber cord, do not use plastic resin line instead. (4) temporary wiring insints. r located connector box. (2) rubber cable portable power tools, lead length not more than 5 m from the switch box, without jocable or plastic. Adopted at the lane or road protection pipe buried underground, set up signs, connectors must be overhead othed llumination", "welding". 3, electricity lines: (1) electric line, required for overhead installation of resilient rubber shea0.1mg/grid, and 0.01mg/grid, will signs made transparent film, loaded in pointer Shang, then, through optical zoom 10 times"i optic balance of sense volume General adjustable into 1mg/grid, and-en with "sense volume" to said: sense volume = mg/grid electrozero point. Balance of sensitivity General to signs of grid number to measure, that sensitivity = grid/mg but in actually oft epoint adjustment screw is the distance from the fulcrum nut quality adjustment nut to adjust the size of the moment change th-zerores sensitivity adjustment screw is to use the height to adjust the quality of the nut itself d the length of the horizontal asushaped, "Alice beams" in order to reduce the impact deformation, knock out heavy and light metal materials to relieve beam me-V contains key Onyx blade's "Alice beams" type, and balance beam made of aluminium alloys or titanium alloys light metal alloy.tion, Fulcrum Onyx blade slightly below the sensitivity adjustment screw located on the top of a vertical, set two zero point adjusting screw in the horizontal direc-ovate, hollowed out in the Middle, triangular-smooth). So, balance beam made of triangularand beam deformation, agate cutters of the fulcrum and the load point of the contact point (that is, agate and knife blades sharp . But the sensitivity of the balance are not only associated with these three factors, while carrying heavy loads and balanceivityof the scale is heavier, lower sensitivity, (3) pivot and the shorter the distance between the center of gravity, high sensit es the sensitivity associated with the following factors: (1) the long arm of the scale, higher sensitivity, and (2) the beamthat balanc 4 上海管理总部 A账户:起始资金10万(专做日内商品短线) 今日初始资金:73.7305万元 交易品种:铜1005合约，橡胶1005合约，螺纹1005合约，白糖1009合约 仓位控制:铜15%，橡胶15%，螺纹15%，白糖15%，总持仓不超过60% 盈亏统计: 铜 300-300=0元 橡胶 9500-200=9300元 螺纹 (5000-2600-600+400)-400*4=600元 白糖 23400-200=23200元 日总盈利: 0+9300+600+23200=30100元 今日总资金:76.7405万元 累计收益率:667.405% 今日交易情况: 铜1005合约 时间 合约 手数 开平 成交价 手续费 盈亏 09: 00 CU1005 3 卖开 57500 300 14: 59 CU1005 3 买平 57480 0 20*5*3=300 橡胶1005合约 时间 合约 手数 开平 成交价 手续费 盈亏 09: 00 RU1005 10 卖开 23355 200 请务必阅读正文后的免责申明 5 14: 59 RU1005 10 买平 23165 190*5*10=9500 螺纹1005合约 时间 合约 手数 开平 成交价 手续费 盈亏 09: 00 RB1005 20 买开 4260 400 09: 05 RB1005 20 卖平 4285 25*10*20=5000 09: 05 RB1005 20 卖开 4285 400 11: 05 RB1005 20 买平 4298 -13*10*20=-2600 11: 05 RB1005 20 买开 4298 400 14: 40 RB1005 20 卖平 4295 -3*10*20=-600 14: 40 RB1005 20 卖开 4295 400 14: 59 RB1005 20 买平 4293 2*10*20=400 白糖1009合约 时间 合约 手数 开平 成交价 手续盈亏 费 09: 00 SR1009 20 卖开 5500 200 14: 59 SR1009 20 买平 5383 0 117*10*20=23400 A账户跟踪从2009年9月15日开始，严格按照交易模型3分钟提示信号操作，无信号则不操作，全部日内交易，收盘前清仓。 说明:从2009年11月27日开始，本账户做如下修改: 1.加入铜，螺纹两个品种，共操作4个品种; 2.加入附图信号过滤指标; 3.严格按照交易模型5分钟提示信号操作，无信号则不操作，全部日内交易，收盘前清仓。 B账户:起始资金100万(专做股指) 今日初始资金:297.264万元 交易品种:IF1003合约 仓位控制:总持仓不超过60%， 盈亏统计:-86400元 日总盈利:-8.64万元 今日总资金:288.624万元 累计收益率:188.624% 今日交易情况:IF1003合约空单持有中 时间 合约 手数 开、平 成交价 盈亏 15: 15 IF1003 12 持有中 3819 (3795-3819)*12*300=-86400 B账户跟踪从2009年9月23日开始，严格按照交易模型30分钟提示信号操作，无信号则不操作，趋势交易，按照当日收盘价结算当日盈亏。 说明:从2009年11月27日开始，本账户做如下修改: 1加入附图信号过滤指标; 2.严格按照交易模型15分钟提示信号操作，无信号则不操作，趋势交易，按照当日cutters, ders,equipment: vibration machine, polishing machine, ramming machines, submersible pumps, electric hand Planer, hand drills, grinmotor: switch box must have leakage protection devices, leakage current 30ma/0.1s, 15mA/0.1s wet job (includes the following mobilege cable erection Derrick (gantry), scaffolding outside power lines above the water, all safety nets (Booth). 6, handheld or nity of overhead power transmission line construction, erection of bamboo protection frame. (2) in the vicinity of high voltacolor" line as the ground wire. 5, high voltage line protection: (1) in the vici-r cable core in the "black" or "green/Huang Shuango not use aluminium wire for grounding (neutral) wire joints by welding, crimping a reliable electrical connection. (3) rubbere, ddistance between two grounding, grounding resistance is less than 4 ohm. (2) ground (neutral) wires using insulated copper wigrounding electrode available angles, steel of not less than two, depth of not less than 2 m and not less than 2.5 metres in e: (1)tallations, use a rubber or plastic insulated wires must be knob cables set up, switch set. 4, grounding and zeroing devic(3) use mobile power tools and lighting are soft rubber cord, do not use plastic resin line instead. (4) temporary wiring insints. r located connector box. (2) rubber cable portable power tools, lead length not more than 5 m from the switch box, without jocable or plastic. Adopted at the lane or road protection pipe buried underground, set up signs, connectors must be overhead othed llumination", "welding". 3, electricity lines: (1) electric line, required for overhead installation of resilient rubber shea0.1mg/grid, and 0.01mg/grid, will signs made transparent film, loaded in pointer Shang, then, through optical zoom 10 times"i optic balance of sense volume General adjustable into 1mg/grid, and-en with "sense volume" to said: sense volume = mg/grid electrozero point. Balance of sensitivity General to signs of grid number to measure, that sensitivity = grid/mg but in actually oft epoint adjustment screw is the distance from the fulcrum nut quality adjustment nut to adjust the size of the moment change th-zerores sensitivity adjustment screw is to use the height to adjust the quality of the nut itself d the length of the horizontal asushaped, "Alice beams" in order to reduce the impact deformation, knock out heavy and light metal materials to relieve beam me-V contains key Onyx blade's "Alice beams" type, and balance beam made of aluminium alloys or titanium alloys light metal alloy.tion, Fulcrum Onyx blade slightly below the sensitivity adjustment screw located on the top of a vertical, set two zero point adjusting screw in the horizontal direc-ovate, hollowed out in the Middle, triangular-smooth). So, balance beam made of triangularand beam deformation, agate cutters of the fulcrum and the load point of the contact point (that is, agate and knife blades sharp . But the sensitivity of the balance are not only associated with these three factors, while carrying heavy loads and balanceivityof the scale is heavier, lower sensitivity, (3) pivot and the shorter the distance between the center of gravity, high sensit es the sensitivity associated with the following factors: (1) the long arm of the scale, higher sensitivity, and (2) the beamthat balanc 6 上海管理总部 收盘价结算当日盈亏。 免责申明 本报告中的信息均来源于公开可获得资料，中信建投期货力求准确可靠，但对这些信息的准确性及完整性不做任何保证，据此投资，责任自负。本报告不构成个人投资建议，也没有考虑到个别客户特殊的投资目标、财务状况或需要。客户应考虑本报告中的任何意见或建议是否符合其特定状况。 请务必阅读正文后的免责申明 7