We already released statistics of the annual report 17 home

Report the:

Domestic per capita spending remains boost space, focus on quality Tory burch outlet small scenic spot. We are still bullish on domestic travel, particularly bullish on the core city circle surrounding 2-3 hour traffic circle the growth, such small kei chan in significant benefits scenic area will ZiJiaYou, the rise of short swim; Meanwhile attention brought its surrounding traffic improved BaoFaShi growth in the number of urban tourism.

International tourism demand or stabilize, Japanese, Korean tourist arrivals growth is slowing. Recent regional situation by the world local unsteady and earthquakes, tsunamis, nuclear leakage and other natural disaster effects, we think that international tourism demand or stabilize in the second quarter, is expected to outbound tend to be insipid. From 2011 1 Tory Burch Flats Sale, - February data to see, the Japanese tourist arrivals 1.95%, whatever number year-on-year drop from the base or growth, inbound market scale still see low operation interval.

Second quarter valued scenic spot sub industries. We already released statistics of the annual report 17 home. 9 home of listed corporations were realized scenic 21.86% year-on-year revenue; Realize 3.02 billion yuan net year-on-year, 45.19%; Four hotels were of listed companies realize revenue year-on-year growth of 24.5%; Jinjiang shares realize 39.25% revenues year-on-year growth; Three companies catering enterprises revenue 14.04% year-on-year. Combined with revenue scale, gross margin, net interest rates, and the trend of change at the stage of the tourism industry, we think the sub industries investment opportunity sorting is as follows: the scenic area, the integrated Tory burch outlet enterprise, economy hotel, restaurant, hotel industry.

Attention related mark catalyst is expected to cash. With the arrival of the tourist season, we prefer emeishan, huangshan, guilin, etc have spring enjoy flower of the scenic spot theme enterprises, but also is expected in the second quarter attention catalyst cash related targets. We emphatically recommended emeishan (traffic improved + net interest rates ascending), xian diet (positive re-vitalization of assets, deep time-honored brand + expo opening close soon), CITS (officially adopted countrymen may outlying islands duty-free, performance is expected to exceed expectations), guilin tourism (the longji zhuang ethnic terrace, small scenic spot mark longsheng springs growth).

oth the external cause a large release liquidity

In march, the CPI inflation is growing at 5.4% and internal: both the external cause a large release liquidity, external U.S. dollar, with inflows into the emerging countries; Meanwhile crude oil, metal commodity prices even higher inflation, input type innovation more serious; Internal lewis inflection point coming, Labour costs rise, income forced to raise, the overall price hikes. We believe that, Tory Burch Sandals Sale, even if the management through monetary policy and administrative intervention to regulation, the overall price level to maintain high this year trend of very difficult to change, high CPI will be in long-term future existence.

"1025" plan finalized by "big spending in the past," lead is difficult to imagine. Christian Louboutin Evening Sale, China's economic three carriages "investment, exports, consumption, consumption has been ranked last in 2009, with the government invest big four trillion yuan, investment has reached its maximum; Along with the RMB continue to rise and Labour costs rise, export to maintain the fast growth increased difficulty; While China has a global 1/4 of the population, along with the national economic strength increases and national income increase, consumer upgrades and increase will be the main driving force of economic boost China's.

As a consumer standpoint, medicine, retail industry, electrical appliances, food, travel, clothing maintained the growth of certainty. Judging from the 2010 annual report of the listed company, the average growth -- 30% in 25%, but part of the consumer stocks in the past few years have been TunBing, therefore, the organization has been higher overall p. In the first quarter of this year due to the rise of blue-chip big capitalization, funds, consumer stock signs appear metastasis appeared collective drop, average cut at 20%, run lost stock index. But such transfer has investment opportunities, with the arrival of the second quarter, 51, the Mid-Autumn festival, the National Day, New Year's day, consumption industry investment opportunity is coming again.

Maintain high inflation, beating the CPI is today the ideal, all investors are seeking brand of consumption enterprise, will ensure stable prices space and effective capacity expansion, this enterprise is worth us long-term investments. Tory Burch Flats, Remembering the past decade of maotai, yunnan white drug-powder (000538), DongA donkey-hide gelatine (000423) such brands, their growth is the enterprise with Chinese economic and population income synchronization, investment such enterprise overnight, but may be difficult to secure and stable good wealth of Daniel, these enterprises run win CPI is one of the best investment mark.

Shorting kinetic energy has released

Overnight us stocks innovation by high impact, plus market after continuous winners, shortingChristian Louboutin Evening Sale, kinetic energy, yesterday morning session has released two city high jump slightly open, empty in finance, petrochemical, coal, cement and other blue-chip varieties lead bottom, index, but quickly pull litre in rush and then high pressure cast dish slow shocks to the downside. Afternoon grail concussion, two weak after maintaining market in B shares slump, appear under the influence of a wave of plunge quotations. End dish in power sectors such as pull up along the narrow, drop two cities, to closing by Yin line barrel.

Look from technology form, grail has continuous accept out four root Yin line, greatly released zuokong kinetic energy, small periodic technical indicators observation has formed 30 minutes bottom structure. The structure will deviate from market to appear short-term technical support rebound.

Operation Suggestions remain cautious and continue to focus on fundamentals are more Tory Burch Flats, advantage of support blue-chip stocks and benefit from the aviation faster appreciation of the renminbi, new sectors such as low attention already end share the mid-term adjustment should be pharmaceutical, textile and clothing and winemaking etc. Consumer industry opportunities

Open-source securities

Market weak form apparent

On Tuesday, the market plunges below averages support and euramerican market under the influence of unilateral rise, yesterday market highs, continue to shock downside, lowest dip in near 2910 rise. Blue-chip weight shares have signs stabilising winners, but stocks doing not decreased, the Shanghai index downward, continuation adjustment final continue pattern. Plate, 50 industry plate cement, textile machinery, financial, papermaking, electric power industry GongPan barrel, printing and packaging, bicycle industry precede, statistical results fall only 5 home industry rise.

Yesterday financials to index fell space formed certain inhibition, display market still has some funds for offerings action. While previous hot theme shares fall yesterday appear larger, dickon pharmaceutical (600466) is to drop stop barrel, tory burch online has greatly affected market popularity, and the market calorimeter and not shrinking, also hints panic cast dish is still appear constantly.

Take market weight larger non-ferrous, biological pharmacy, real estate, steel also continue to sustain concussion fall, and the steel plate forms in lai steel 600102) and real estate shares (plate zhongtian city cast (000540) drop stop. The disk of a slight window still belong to defense sector such as finance, papermaking, electric power, market weak form apparent. The main do future market power such as non-ferrous, real estate empty if they can't, the reason such as the record low of probability tanabe index also increase gradually. At present market is not very good trading sexual opportunities, so that keep light warehouse or empty camalig wait-and-see should be preferred solution.

Nations HuangXueJun points out

Nations HuangXueJun points out, the securities strategy researchers compared to published listed companies, annual reports and quarterly earnings 2010 found the company occupied 95%, and to the proportion year to the first quarter fell to 79%; In addition, the enterprise cash flow appear slipping substantially by Tuesday, published quarterly in listed companies the 1818-1820, 123 companies cash flow shown negative growth.Christian Louboutin Evening Sale, Listed company a quarterly sharply lower than expected for the enterprise and has sparked concern macroeconomic fundamentals.

HuangXueJun think part of first quarter results, as expected, "quarterly price" become is full of DeLeiZhen, although performance trap bank stocks is not good, but since the Spring Festival published quarterly earnings prices may have in this week is ending. Due to the fast rhythm of issuance of shares, still, gem of the second new could face further valuation regression. But Banks still robust, the bulk Tory Burch Flats, lots stock performance market also won't appear trend decline movements.

Wide hair negotiable securities (000776) that have fundamentals, policy in under pressure, the cabinet and the funds support valuations Shanghai index structure, will stand around 27 - the interval operation, 31 points is worth looking forward to structural opportunity. Which can bring super expected cycle breeds and can fully benefit from the reform of income distribution system will become the bigtory burch online consumer industry investment lines

early yesterday both high open in cement

On Wednesday, quarterly reports of listed companies face haunt a-share shadow, plus B shares the Shanghai and Christian Louboutin Evening Sale, shenzhen stock index afternoon diving both main charge out four even Yin.

Shenzhen index, early yesterday both high open in cement, papermaking, dish of coal, petroleum, brewing under the impetus for sectors such as rebounded, but pull litre didn't get volume to cooperate, index dropped back again, afternoon B shares index diving again, sensitive nerve stimulation of the market, in pannikin, winners of panic again dragged down index closed out four even Yin. At closing, the Shanghai index fell 13.57 2925.41 points, newspaper, drop 0.46% point; 12358.88 points, ChengZhi quote shenzhen 0.72% 89.60 point, drop fell. Small and medium plate means and gem refers to drop respectively 0.94% and 1.64, B shares index plunged 5.33%.

Funds continue net outflows situation, but total net outflows appeared to atrophy. According to the big money flow statistics, yesterday a-share market 61.5 billion total net outflow funds before yuan, A reduction of nearly 30% A trading day. Non-ferrous metal plate for a third consecutive trading day net outflows, high amount of top net outflows 5.74 billion; More recently, the real estate sector performance instability yesterday net outflows funds to evacuate, a billion yuan, in second place; Secondly separately for chemical fiber, medicine, motor vehicles, machinery plate, net outflow in 4 billion to 4.8 billion yuan between; Bank kind, electric power, paper printing, winemaking food four plates net inflows, Tory Burch Flats, but realize funds, which are not the scale of the bank sector also only preeminent net inflows 120 million yuan.

As a listed company annual and quarterly close, listed companies disclose the operation situation surface. High valuation of the gem, small and medium plate company performance compared with the mainboard speed is not advantage, part of the small and medium-sized market value as expected performance by selling consecutive kill cheapen individual stocks.

It also leads to the main index trends appear differentiation, obviously, this week in three day Shanghai index, small and medium-sized board refers to the cumulative fall respectively, gem refers to 3.62%, 6.18%, 2.83% respectively, gem refers to run lose tory burch online market other index significantly.