追涨杀跌

证券市场的羊群行为是指投资者在证券投资中模仿其他投资者决策，在股票价格波动中追涨杀跌的行为。

Herd behavior of the securities market means that investors follow others in decision-making .

同时，中国股市存在着机构对股价操纵、散户追涨杀跌等现象。

Meanwhile , institution investors manipulate stock price and private investors blindly gamble in China stock market .

基金在大部分统计时间内，呈现正反馈交易现象，基金的操作策略以追涨杀跌为主。

It showed that , for funds in most of the statistical period , there were positive feedback trades .

所以市场上长期盛行着盲目跟风、追涨杀跌等非理性投资行为。

Some irrational investment behaviors prevail in the long term , such as follow the trend blindly and chase sell .

基金的持仓比例与股市波动率正相关，我国基金存在追涨杀跌、持股集中度高，偏好中短线投资等行为特征，这些行为都加剧了我国股市的波动。

The position ratio of China SIF have a positive correlation with the volatility of stock market . China SIF maintains a high level of shareholding concentration basically and belong to medium-term or short-term investment .

其它策略也不太奏效，如年复一年的“追涨杀跌”，因为亚洲地区的股市易于波动，常在牛市期与熊市期之间剧烈摇摆。

Other strategies , such as " buying the winners " year after year are also not very good because the region is prone to volatile markets and sharp swings between bull and bear periods .

我国证券市场发展初期，占据主导地位的是个人投资者，因为其信息有限，投资决策缺乏足够理性，个人投资者的盲目跟风、追涨杀跌行为加剧了股市的波动。

During the development of securities market in China , individual investors occupied the predominant position in the early years . Because of their limited information , irrational investment decision and blind follow , securities market fluctuated acutely .

与此同时，这种追涨杀跌的模仿投资行为不可避免地推动股票价格走向极端&股价的过度反应，甚至产生股市泡沫。

Simultaneously , the Imitating investment behavior as pursuit risen up and abandon got down , is inevitably promote the stock price to extremes & exceeding reaction of stock price , and produced stock market foam at last .

在发展早期，我国证券市场是以个人投资者为主体，个人投资者由于缺乏必要的投资知识和技能，投资心理也不稳定，常常表现为追涨杀跌。

In the early stage , Chinese security market was dominated by individual investors , and they were lack of necessary knowledge and skills of investment and their investment idea was unstable , so they were prone of chase sell into .

在市况极具追涨和杀跌价值时，非凡有用。

Provide extremely in market chase after go up and kill cheapen when the value , particularly useful .