1999 주식거래의 추억 : 신고가주와 신저가주를 주시하라.

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| * * *    신고가주와 신저가주를 주시하라.     대한투자연구회  * * * |
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|. 주가는 일정한 가격폭 사이에서 상승과 하락을 계속 반복하는 습성이  |
|  있는데 상승하던 주가가 어느 선까지 간후 가격이 하락하게 되는 선을 |
|  저한선이라 하고 반대로 주가가 하락하여 내려가다가 일정한 가격선에 |
|  닿으면 주가가 다시 상승하는데 이 선을 지지선이라 한다.            |
|. 저항선은 대기 매도세력이 집중되어 있는 곳으로 그 가격까지만 오면  |
|  매도물량이 쏟다져 주가는 더이상 오르지 못하고 하락하게 되는 것이다|
|  한편 지지선이란 잠재 매수세력이 집중되어 있는것으로 이 가격까지 주|
|  가가 밀리면 매수세력이 집중적으로 달라 붙어 주가가 상승하게 되면  |
|  더이상의 주가 하락은 없게 된다.                                   |
|. 그러나 만약에 주가가 지지선을 뚫고 하락을 하게 되면 평소때 지지선 |
|  에서 대기하고 있던 매수세력보다 큰 매도세력이 가세되었다는 의미이 |
|  기 때문에 주가에 악영향을 끼치는 재료가 있는 경우가 있으므로 가격 |
|  이 낮다는 이유만으로 매수에 가담하다가는 낭패를 볼수가 있다.      |
|. 반면에 주가가 저항선을 뚫고 상승을하여 신고가를 기록하는 경우는 저|
|  항선에 머무르고 있던 대기 매도세력을 능가하는 강한 매수세력이 뒷받|
|  침되고 있다는 의미이므로 유심히 살펴보아야 한다.                  |
|. 주가가 한동안 움직이지 않다가 신고가라도 기록하면 재빨리 팔아버리 |
|  는 투자가가 많이 있는데 이럴때는 새로운 호재에 의한것인지 아니면  |
|  인위적으로 큰 손세력들이 인기를 붙이기 위한 것인지 일시적인 파동때|
|  문인지 분석해 보아야 할 것이다.                                   |
|. 일반투자가들에게 신고가를주어 매도하기 쉽게 하고 신저가는 가격이  |
|  낮다는 이유로 안심을 갖게 하여 매수하도록 유혹하는 경우가 많다.   |
|. 그러나 신고가는 과거의 수급상태가 변화를 일으켜 주가는 새로운 상승|
|  궤도로 진입하는 경우가 많으므로 매수를 생각해보가 신저가는 새로운 |
|  하락국면을 의미하므로 매도를 생각해야 한다.                       |
|. 그러나 시세가 한참동안 상승세를 가진 후의 신고가는 팔아야 하며 하 |
| 【！ 매수에 가담하는 것이 올바른 투자방법이다.                     |
|. 신고가에 매수하는 방법은 상승 초기단계에 해당하며 매도하는 것은 하|
|  락 초기단계에 맞는 투자 방법임을 명심해야 한다.                   |
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|* * *                시중의 자금사정을 파악하라                * * *|
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|. 주가의 상승이나 하락은 매수세력과 매도세력의 힘의 차이에서 결정된 |
|  다. 팔고자 하는 세력보다 사고자 하는 세력이 강하면 주가는 상승하기|
|  마련이며 오히려 팔고자 하는 세력이 강하면 주가는 자연히 하락하고  |
|  만다.                                                             |
|. 결국 이러한 매수.매도의 결정은 시중의 자금사정에 의해서 결정이 되 |
|  는데 시중자금이 풍부하면 매수세력이 증가하게 되고 자금사정이 좋지 |
|  않으면 매도세력이 증가하게 된다.                                  |
|. 대부분 초보자들은 재료에만 급급하여 미처시중의 자금사정은 생각하지|
|  못하는 경우가 많다. 때로는 큰 호재성 재료를 듣고 주식을 샀는데 왠 |
|  지 주가는 움직일줄 모르고 가만이있게 되면 굉장히 의아하게 생각한다|
|. 그러나 주가를 결정하는 것은 재료가 아니고 주식의 수급관계에 의한것|
|  이며 그또한 시중자금 사정에 따라 결정되는 것이므로 재료 일변도의  |
|  투자는 바람직하지 못하다.                                         |
|. 시중에 돈이 넘쳐 흐르면 이른바 "금융장세"라는 말이 있듯이 돈이 주 |
|  가를 끌어올리게 되며 이때는 업종이나 종목 구별없이 무차별 상승을  |
|  하게 된다.                                                        |
|. 시중에 많은 자금이 장기간 지속적으로 주식시장에 유입되면 주가는 오|
|  를 수밖에 없고 시중의 자금사정이 악화되거나 부동산 등의 실물투자로|
|  빠져나가게 되면 아무리 좋은 호재가 나와도 주가에 별로 반영이 되지 |
|  를 않는다.                                                        |
|. 즉 호재가 아무리 있어도 제대로 주가에 반영되지 않으면 약세기조라  |
|  보면 되고 자금사정 또한 원만치 않다고 보아도 틀림없다. 반대로 호재|
|  는 물론 악재가 나와도 주가가 상승하면 강세기조이며 주식시장으로의 |
|  자금유입에 보다 세밀한 관심이 필요하며 고객예탁금 현황이 중요성을 |
|  가지는 이유도 그것이 잠재 매수세력이기 때문인 것이다.             |
|. 그외 정부의 통화정책 사채시장 금리등에 대해서도 유의를 해야 하며  |
|  그러한 것이 주가에 어떤 영향을 미치며 그 자금들이 주식시장으로 제 |
|  대로 유입이 되고 있는지도 늘 관심있게 지켜봐야 할 것이다.         |
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|* * *            과실이 없는 가지는 과감히 쳐버려라            * * *|
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|. 노련한 정원수는 매년 나무의 과실을 맺는 정도와 특성을 잘 파악해 두|
|  어 때가 되면 불필요한 양분의 손실을 적게 하고 과실을 맺는 쪽에 치 |
|  중하도록 무참할 정도로 나무의 잔가지를 사정 없이 쳐버린다.        |
|. 경험이 없는 투자자들은 주식이 잘오르는 종목은 쉽게 팔아버리고 손해|
|  가 난 종목은 오히려 장기간 보유하고 있어 시간적으로나 자금상으로  |
|  또 다른 만회할 기회나 이익금 축적의 기회를 놓쳐버리고 만다.       |
|. 그러나 노련한 정원수는 가망이 없어 보이는 가지를 결단력있게 잘라버|
|  려 나머지 과실이 잘 맺는 쪽에 더 치중하게 된다.                   |
|. 잘오르는 종목은 남겨두고 손해볼 종목부터 팔아라. 이익은 저절로 커 |
|  질 것이다.                                                        |
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|* * *        비인기권에 묻힌 휴면기 주식은 손대지 마라         * * *|
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|. 주가의 대원칙은 주가란 항상 변화한다는 주식 중에는 거의 주가의 변 |
|  동이 없는 주식이 있다. 이러한 주식들은 투자자의 관심권에서 완전히 |
|  멀어진 비인기권에 속하는 것들이며 거래도 없고 주가도 떨어질만큼 떨|
|  어져서 더이상 움직이지도 않는다. 이러한 주식은 경영상의 재주주외에|
|  는 별로 관심이 없는 버려진 주식들이다.                            |
|. 이렇게 주가가 장기 휴면상태에 접어든 주식들은 업종 자체가 그동안  |
|  경제여건 변화로 사양화하여 더 이상의 성장의 꿈을 잃어버린 것들이  |
|  대부분 이다. 또한 사양사업은 아니지만 그렇다고 장래의 꿈을 가질수 |
|  없는 업종들도 장기간 비인기권 속에 파묻혀 버리는 경우가 허다하다. |
|. 요즈음 첨단산업의 하나로 손꼽히며 각종 신의약품 개발에 박차를 가하|
|  고 있는 제약주도 1981년 이전까지는 거의 주가 변동이 없던 휴면기의 |
|  주식이었다.                                                       |
|. 일반 투자자들 중에는 간혹 이러한 주식들이 가격이 싸다는 이유로 손 |
|  을대는 경우가 있는데 바라는 투자이익을 얻기란 매우 힘든 일이다. 주|
|  가가 싸면 쌀만한 이유가 있기 마련인 것이다. 물론 이렇게 휴면기에  |
|  속해 있는 주식들도 위에서 언급한 제약주처럼 경제여건 변화에 따라  |
|  인기주로 부상하는 경우도 있다.                                    |
|. 그러나 그러한 주식들은 오르는 것을 확인한 다음 뛰어들어도 결코 늦 |
|  지 않으며 잠자고 있는 주식을 미리 사서 애태울 필요는 없는 것이다. |
|  장기간 저가권에서 맴돌고 있어서 더 이상 주가가 하락할 위험이 적다 |
|  하여도 당장 급상승할 가능성 또한 적은 것이기 때문에 움직이지 않는 |
|  주식을 공연히 건들였다간 장기간 보유를 하여도 투자이익을 남기기란 |
|  매우 힘든 일이다.                                                 |
|. 인기란 쉽사리 붙는게 아니면 많은 투자자들의 관심권에 들여와야 하고|
|  장기간 제외했던 만큼 비인기권에서 벗어나려면 시간이 필요하다.     |
|  따라서 휴면기의 주식에는 함부로 뛰어들지 않는 것이 좋으며 완전히  |
|  확인이 된 후 매입에 가담해도 늦지 않다는 것을 알아야 한다.        |
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|* * *                얕은 반락은 큰 시세                       * * *|
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|. 주가는 등락을 거듭하며 끊임없이 순환한다.                         |
|  이러한 근본 요인은 주식시장에 시장경쟁 원리를 반영하는데 기인하는 |
|  바 수요와 공급의 세력다툼에서 빚어지는 결과라 할 수 있다.         |
|. 만약 장세가 하락 국면이라면 분명 공급세가 수요세를 압도하게 될것이|
|  다. 그러나 주가의 하락 과정에서도 그 하락폭이 얕을 경우 이는 대기 |
|  매수세가 끊임없이 쏟아지는 대기매물을 소화하고 있는 과정으로 해석 |
|  돼 조만간 바닥이 확인되면 매수세가 매도세를 압도하여 큰 시세를 이 |
|  루는 것이 보통이다.                                               |
|. 조정 국면에서의 깊은 반락은 그만큼 매수기반이 형성되어 있지 않은  |
|  것을 의미하므로 우리는 투자전략을 세움에 있어 어떤 계기만 주어지면|
|  곧바로 공격할 매수세가 형성된 반락이 얕은 업종 내지는 종목을 선호 |
|  할 필요성이 있음을 상기해 둘 필요가 있다.                         |
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|* * *           주식투자는 귀로하지 말고 눈으로 하라           * * *|
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|. 주식시장만큼 풍문이 가득한 곳도 아마 없으리라. 그풍문들은 유.무상 |
|  증자.신.증설로부터 해서 정부시책 등 그럴듯한 루머들이 입에서 입으 |
|  로 불어날 뿐 아니라 게다가 내부자 정보라는 단서까지 붙여 주가를 조|
|  작하는 왜곡된 정보가 난무하는 경우가 많다.                        |
|. 잔파도를 타고 인기주에 편승하기를 좋아 하는 투자자들은 제법 정보에|
|  뛰어난 정보망을 구축해 놓고 발빠른 매매를 하는데 실로 정보에 빠른 |
|  자는 정보에 쓰러진다는 말이 있듯이 정보를 너무 신봉하는 것은 실패 |
|  의 원인이 되기 쉽다.                                              |
|. 주식투자는 주가 추이나 거래량.경제동향이나 자금의 흐름같은 확실한 |
|  재료를 토대로 주관있게 나가는 것이 좋은 투자자의 자세가 될것이다. |
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|* * *            대중은 잘못 판단하는 경우가 많다.             * * *|
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|. 프로에 비해 아마튜어들은 투자판단 능력이 부족하다. 보통시장 국면을|
|  3단계로 나누어 보면 아마튜어 투자자들은 강세시장의 제1.2국면에서  |
|  불안을 느끼며 약세시장에서는 확신을 가지나 전문 투자가들은 그반대 |
|  로 행동하게 된다.                                                 |
|. 결국 투자수익을 많이 남기는 투자가는 전문투자가들이며 최근 증시에 |
|  서 일반투자자들이 장세를 불안하게 보고 극도의 침체를 예측할때 프로|
|  투자자들은 바닥을 확인한후 자신있게 매수에 응해 투자수익을 남겨온 |
|  예로 총선 및 올림픽 이후의 장세등을 들 수 있다.                   |
|. 대면천정국면에서의 화려한 장은 아무튜어의 대거유입을 초래하게 되지|
|  만 전문 투자가들은 서서히 꼬리를 감추고 다음을 대비하는 유비무한의|
|  태세를 갖추게 되는 것이다.                                        |
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| * * *           촛불은 꺼지기 직전이 가장 밝다               * * * |
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|.어느 사물이든 마지막엔 가장 큰 힘을 발하고 소멸하게 된다.주식시장  |
| 역시 가장 마지막 천정권에서는 벌겋게 달구어진 숯덩이 같이 붉게 물들|
| 여져 주식투자의 경험을 갖지 못한 신규 투자자들을 대거 증시로 유입시|
| 키면서 식어가게 된다.이는 가장 단순한 자연의 섭리이며 이경우 냉철한|
| 투자자라면 또는 과욕을 부리지 않는 투자자라면 현금화를 시키고 여행 |
| 을 떠날 채비를 갖출 것이다                                         |
|.우리는 이같은 예를 수없이 겪어왔고 결국 전문가 보다는 신규로 유입된|
| 초보투자자들의 아우성이 더욱 커진다는 것도 잘 알고 있다            |
|.그러므로 장세의 흐름을 객관적인 입장에서 냉철히 환란하고 어느 단계 |
| 에 와있는 가를 심층분석함으로써 촛불이 꺼지기 직전보다는 이전에 손 |
| 을 털고 나오는 현명한 투자자세가 필요하다                          |
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|* * *                 잔파도를 타지 마라                       * * *|
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|. 고기를 잡으려면 얕은 물에서 피래미를 잡기 보다는 깊은 바다로 가야 |
|  큰고기를 많이 잡을 수가 있다. 주식은 환금성과 이동성이 좋기 때문에|
|  투자자는 잔파도를 이용해 단기차익을 노리려는류가 상당히많은 편이다|
|. 시세판이 일년내내 가동된다해서 단추를 누르기만 하면 동전이 떨어지 |
|  는 자판기로 오인해서는 안될 것이다. 막상 내 잔고를 채우는 수익금은|
|  그 수고와 신경전에 비하면 얼룩진것에 불과하다.                    |
|. 우리나라는 자본 자유화를 앞두고 있고 주식시장의 대세 상승기를 맞을|
|  수 있을 것이라는 것을 예측해 볼 때 주식은 오르게 되어 있다.       |
|. 성장주를 잡아 느긋하게 기다려라. 깊은 물에서 그물을 치고 때를 기다|
|  릴 줄 아는 사람이 큰 어부가 될 수 있다.                           |
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|  * * *                 매수시점과 매도시점                  * * *  |
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|.성공투자의 필수요소중 하나가 매매타이밍을 잡는 것이다.일반적으로 매|
| 수시점을 잘못잡아서 너무 고가에 주식을 매입한 초심투자가들은 심적으|
| 로 초조하여 매도시점도 잘못잡게 되는 경우가 많다.그러나 성급히 매매|
| 횟수만 거듭한다면 수수료등으로 많은 금액이 지출되므로 바람직한 투자|
| 방법이 못된다.더구나 초심자일수록 뇌동매매에 휩싸이기 쉬우므로 단기|
| 위주의 성급한 투자보다는 긴 안목을 갖고 투자하는 것이 좋겠다.투자가|
| 들의 목표가 가장 낮은 가격에 매수하고 가장 높은 가격에 매도하는 것 |
| 이나 그것은 실지로는 불가능하므로 "무릎근처에서 사고 어깨부분에서  |
| 팔겠다"는 투자자세가 오히려 높은 수익을 올릴수 있겠다.욕심을 너무  |
| 부려서 가장바닥부분과 천정부근에서의 매매만 생각한다면 바닥보다 조 |
| 금올랐을때는 매입하기가 힘들어지고 천정에서 조금 가격이 밀렸다고 매|
| 도를 못하게 되면 오히려 투자이익은 더욱 감소하게되며 주식으로만 묶 |
| 여있게 되어 보다 좋은 매수종목과 매수시기가 오더라도 속수무책의 경 |
| 우를 당하게 된다                                                   |
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|* * *                  나눠서 사고 나눠서 팔아라               * * *|
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|.주식시세에 있어서 천정과 바닥은 있지만 아무리 노련한 투자자라도 그 |
| 것을 알아맞힌다는 것은 보통 힘든 일이 아니다.물론 여러번 매매를 하 |
| 다보면 바닥에서 사고 천정에서 파는 일도 있지만 아무리 신중하게 생각|
| 해서 매매를 한다고 해도 그리 쉬운일은 아닌 것이다                  |
|.더군다나 시세란 매우 묘한 것이여서 자기가 바닥이라고 판단하여 샀다 |
| 고 하더라도 더 떨어지고 더 이상의 가격상승은 어렵다고 판단해서 매도|
| 를 하고 나면 오히려 그때부터가 본격적인 상승추세일 수도 있다       |
|.따라서 주식의 천정과 바닥측정이 어려운 만큼 매수나 매도할 때에는   |
| 2회 내지는 3회에 나눠서 매매하는 것이 위험을 줄이는 방법이다.주식시|
| 장이 상당기간 조정을 받았다고 생각되고 얼마 안있으면 대세의 전환이 |
| 오겠다고 판단이 되어도 당장 전량매입하지 말고 3분의 1정도만 매수를 |
| 해 본다                                                            |
|.그리고 그 후에 가격이 더 하락하면 다시 3분의 1을 투입하는 식으로 보|
| 유주식을 늘려가는 것이 만약의 장세에 대비하는 길이다.그러나 장세판 |
| 단이 빗나가서 계속 하락할 기미가 보이면 기간을 좀 더 길게 잡고 매입|
| 을 해야 할 것이다                                                  |
|.결국 가장 이성적인 매수결과는 첫번째 매수가 바닥직전이고 두번째 매 |
| 수가 완전바닥이고 마지막 매수가 바닥을 치고 상승할 때인 것이다     |
|.분할매매 방법은 특히 위험에 대비능력이 거의 없는 초보자에게 있어서 |
| 특히 강조되는 사항이며 능수능란한 투자자라 할지라도 장세가 불투명할|
| 때는 방어적인 면에서도 상당히 효과가 있다.결론적으로 시세의 움직임 |
| 이 눈에 보일때는 분할회수를 줄이고 시세의 방향이 예측하기 힘들 때일|
| 수록 분할회수를 늘려잡는 편이 안전성이 높은 것이다                 |
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| * * *             생선의 꼬리와 머리는 주어라                * * * |
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| 욕심이 과하면 항상 해를 당하기 마련이다.어리석은 개가 먹이를 물고  |
| 개울을 지나가다 흐르는 개운에 비친 자신의 모습을 보고 저쪽 물속에  |
| 보이는 개가 물고 있는 먹이가 더 커보인다고 착각해 그것을 붙잡기 위 |
| 해 개울을 향해 짖어대기 시작했다.그러나 먹이는 순식간에 물결을 따라|
| 둥실둥실 멀여져만 가고 있었다.장세가 좋을때 투자자들은 주가가 한없 |
| 이 빠질것이라고 생각해 투자자들은 자신이 최고와 최저의 점을 찍을수 |
| 있으리라는 과용과 조금만 더하는 지나친 인내심을 부리게 된다.그러나 |
| 이런 과욕과 과신이 곧 시세와 동떨어져 간다는 것을 알아야 한다.적당 |
| 히 먹고 적당히 베풀줄 아는 지혜가 곧 수익률 게임에서 승패를 가리게 |
| 된다.                                                              |
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|* * *                 주식보다는 때를 사라                     * * *|
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|. 주식투자의 가장 큰 목적은 투자수익을 올리는데 있다. 주식은 일정한 |
|  가격의 틀을 형성하고 어느 주식이든 그 틀을 중심으로 등락을 거듭하 |
|  게 된다. 이러한 상황하에서 투자수익을 올리기 위해서는 매매타이밍이|
|  가장 중요하다. 그러나 또한 그만큼 어려운 것도 없다.               |
|. 사실 이러한 매매시점 분석에 관한 여러가지 자료들이 나오고 있지만  |
|  어느 누구도 100%의 만족할 만한 해를 구하지 못했고 앞으로도 이는 난|
|  공불락이 아닐수 없다.                                             |
|. 우리는 단지 천정권 주위에서 팔수 있어야 하고 바닥권 주위에서 사는 |
|  전략이 가장 완벽한 투자전략이란 것밖에는 모르는것이다. 주식자체를 |
|  사고 파는 것은 문제가 아닌 것이다.                                |
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| **       1.2단계 상승에는 따라 붙고 3단계 상승에는 던져라       ** |
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|.통계적으로 지난 10년간 국내 주식시장의 장세를 주도했던 주요종목들의|
| 그래프를 살펴보면 2단계내지는 3단계로 상승한 예가 제일 많다.그 중에|
| 서도 3단계 상승한 경우가 가장 많으며 바닥시세에서 천정시세로 수직상|
| 승을 한 예는 거의 드물다                                           |
|.물론 장세가 아주 강할때는 4단계 상승도 있었다.국내에서 뿐만 아니라 |
| 미국이나 일본같은 주식시장에서도 3단계 상승은 보편화되어 있다.3이란|
| 숫자는 우리의 일상생활과도 밀접한 관계가 있어서 삼세번이라든가 야구|
| 에서 쓰리아웃.3진등 여러가지가 3이란 숫자와 밀접한관계를 가지고있다|
|.좋아하는 숫자가 서양에서는 7로 나와 있지만 복3자라고 해서 우리나라 |
| 사람들의 의식구조속에 밀접히 관련디어 있다.시세에서도 1단계 상승이 |
| 끝나면 2단계 상승을 기대하고 2단계 상승이 끝나면 3단계 상승이 올것 |
| 이라고 생각한다                                                    |
|.그러나 3단계 상승이 끝나면 모든 것이 끝났다는 생각이 무의식중에 잠 |
| 재되어 있어 3단계 상승후에는 거의 주가가 하락하고 만다.따라서 상승 |
| 세로 접어들면 제1단계에 따라붙는 것이 가장 안전하며 1단계 상승 후  |
| 조정을 받을 때가 매입의 호기가 된다                                |
|.한편 2단계 상승을 할때에는 장내외적인 조건을 살펴보고 유연하게 대처|
| 하는 것이 좋으며 3단계 상승시에는 특별한 호재나 완전한 활황장이라고|
| 판단되지 않는 한 던지는 것이 안전하다.한편 주가가 상승할 때 단계적 |
| 으로 상승하는 이유는 가격 상승할때마다 대기매물을 소화하고 손바뀜  |
| 현상이 일어나서 시간을 필요로 하기 때문이다                        |
|.주식의 변동시세를 파악함에 있어서 주의해야 할 점은 단기적인 단계적 |
| 상승도 중요하지만 전체적인 장기추세가 어느 단계에 와 있는지를 파악 |
| 해야 하며 잘못하여 장기적인 하락시세에서 일어나는 일시적인 반등을  |
| 상승초기단계로 오인해서는 안되겠다                                 |
|.따라서 전체적인 추세를 파악하고 상승국면이면 그 속에서 다시 단계적 |
| 으로 어느 단계에 있는지를 점검해 보아야 한다                       |
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|* * *              투기로 인한 최후 승자는 없다                * * *|
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|. 주식시장의 기본적인 패턴이나 속성을 제대로 파악하지 못하고 투기에 |
|  응한다면 그동안 피와땀을 흘려 획득한 재산을 일거에 잃게되는 불운을|
|  맞게 된다.                                                        |
|. 주식시장은 투기적인 요소가 많기 때문에 수많은 사람들에게 매력을 제|
|  공해 주지만 도박에서 파멸이 따르듯 주식시장에서 투기를 상습적으로 |
|  남용한다면 자칫 패가망신의 원인이 될 수도 있다                    |
|. 사실 투기자의 속성이 투기에서 투자수익을 높혔다면 그만큼 위험을   |
|  따돌렸다는 자만심이 발동하게 되고 그러한 자만심은 앞으로의 투기에 |
|  지난 투기금액보다 훨씬 높은 금액을 투기에 활용하게 된다.          |
|. 이때 만약 증시여건이 과히 좋지않은 상황으로 돌변한다면 투기자의 심|
|  중은 과히 알만하다 하겠다                                         |
|. 그리고 이러한 과거는 다음의 투자 패턴에 지대한 악영향을 끼치게된다|
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| * * * *            일반투자가는 왜 실패하는가 ?            * * * * |
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|.아직까지 주식의 대중화가 폭넓게 이뤄진 것은 아니지만 주변에서 살펴 |
| 보더라도 주식투자를 하고 있는 사람들을 쉽게 찾아볼 수가 있다.그들은|
| 나름대로의 투자방법으로 주식을 사고 팔지만 거의 대다수가 투자이익  |
| 면에서는 커다란 성과를 올리지 못하고 있다                          |
|.그렇다면 전문투자가들은 벌고 일반투자가들은 왜 투자에 실패를 하는  |
| 것일까 ?                                                           |
|.물론 주식투자도 전문적인 기술이 필요하기 때문에 경험이 많고 분석능 |
| 력이 뛰어난 사람들이 상대적으로 많은 투자이익을 올리고 있다.간혹 두|
| 번은 전문투자가보다 크게 벌수도 있으나 회수를 거듭하면 할 수록 평균|
| 적인 수익률 면에서 앞설수는 없는 것이다                            |
|.전문가들은 투자면에서 오랜 경험과 정보의 수집.판단능력이 뛰어나기도|
| 하지만 그보다 더 일반투자가와 차이가 나는 것이 있다.바로 주가예측이|
| 빗나갔을 때의 대처하는 기술이다                                    |
|.흔히 전문가라고 하면 주가예측을 정확히 할 줄아는 사람으로 생각하기 |
| 쉬우나 오히려 그보다는 시세의 변화에 적절하게 대처할 줄 알고 빗나간|
| 자기의 판단을 재빨리 정정하여 시세의 움직임에 새로이 적응할 줄 아는|
| 사람인 것이다                                                      |
|.이들 전문가들은 시세가 하락이라고 생각되면 매입가이하라도 과감하게 |
| 던질줄 알지만 일반투자가들은 거의 대다수가 산 가겨보다 아래이면 안 |
| 절부절하다가 결국 견디다 못해 바닥근처에 가서야 팔고 만다          |
|.또한 전문가들은 적당한 선에서 이익이 남은 주식을 처분하지만 일반 투|
| 자가들은 주가가 상승하면 게속 상승할 것 같은 착각에 사로잡혀 욕심을|
| 부리다가 오르던 주가가 하락하게 되면 천정칠 때의 가격에 미련이 남아|
| 있어 매도 타이밍을 놓치는 경우가 허다하다                          |
|.오랫동안 침체기를 거치면 일반투자가들은 견디지 못하고 보유주식을 던|
| 져버리지만 전문가들은 서서히 매입해 들어가며 주가가 상승세에 접어들|
| 어 과열장세에 접어들면 일반투자가들은 그때서야 적극적으로 매입에 나|
| 서지만 전문가들은 매도를 하고 있는 것이다                          |
|.바로 이러한 이유들 때문에 일반투자가는 주식투자에 실패를 하고 전문 |
| 가들은 성공을 하는것이다.주식투자를 하기전에 주식에 대한 지식과 투 |
| 자기법을 쌓는 것이 중요하며 전문가들의 투자속성에 대해 면밀히 검토 |
| 할 필요가 있는 것이다                                              |
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|* * *               주가를 보지말고 거래량을 보라              * * *|
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|. 일반투자가들은 상장회사의 무상증자나 자산재평가와 같이 강력한 호재|
|  에 대해 신문이나 객장의 풍문으로 접하는 것이 대다수의 경우이다. 따|
|  라서 정확한 정보는 이미 주가에 반영이 된 후에 알려지며 나머지 풍문|
|  사항은 거짓으로 드러나는 경우가 많다. 일반 투자자의 경우 상장회사 |
|  에 대한 정확한 정보를 주가가 오르기전에 알기가 매우 힘드므로 한가 |
|  지 점검을 해서 추측하는 방법이 있다. 그것이 바로 거래량의 변동상태|
|  를 파악하는 일이다.                                               |
|. 일단 기업에 대해 호재성 재료가 있으면 그것을 아는 사람들이 주식을 |
|  사모으기 때문에 거래량이 증가를 보이며 차츰 일반투자가에게도 알려 |
|  져서 예전의 거래량을 훨씬 넘어서게 된다. 거래량은 주가에 선행한다 |
|  고 하듯이 사고자하는 세력이 증가하게 되면 자연히 주가는 상승세를  |
|  나타낸다.                                                         |
|  거래량은 시세를 움직이게 하는 힘이므로 거래량의 증가없이는 주가의 |
|  상승은 기대할 수 없는 것이다.  일반적으로                         |
|  투자자들은 시세표를 볼떳 거래량은 안보는 경우가 많다.   이것은 실 |
|  체는 보지않고 그림자만 보려고 하는 것과 같다. 가격을 인위적으로 끌|
|  어올리려고 하든 실제로 호재가 있어서 매입하든 그 모든것은 거래량으|
|  로 나타나게 되어 있다. 물론 이때 그 거래량이 기관들의 자전거래에  |
|  의한 것인가를 점검해야 한다.                                      |
|. 한편 주가가 천정을 친 후의 거래량 폭주는 일반투자자들의 매입열기를|
|  이용해서 큰손들이 보유주식을 퍼붓기 때문에 일어나는 현상이며 흔히 |
|  이러한 물량 천정이 있고 나면 주가는 하향추세로 돌아서고 거래량도  |
|  격감한다. 따라서 바닥권에서의 거래량 증가에는 따라 붙되 천정권에서|
|  의 거래량 이상폭주에 대해서는 재빨리 빠져 나와야 한다. 일반 투자자|
|  의 경우 눈앞의 시세차익 계산에만 급급하여 가격만 보지만 이익이 생 |
|  겼다. 하더라도 장부상의 가격이지 현실화된것은 아니다. 문제는 매도 |
|  할 때의 가겨인 것이다. 따라서 현재의 가격보다는 앞으로 팔고자 할때|
|  의 가격을 알아야 하며 그러기 위해서는 반드시 거래량에 관심을 기울 |
|  여야 한다.                                                        |
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|* * *          천정권에서는 주식에 눈을 떼지 마라              * * *|
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|. 주가가 천정권에 이르면 각종 루머가 난무해지고 주가나 거래량이 급등|
|  하는 등 천정권에서의 특징적인 면들이 나타난다.                    |
|. 그러나 대다수의 투자자들은 주가가 오르면 끝없이 오른다는 착각에   |
|  사로잡혀 매도라는 단어를 잊어 버리는 예가 허다하다.               |
|. 이는 투자자들의 욕심의 도가 지나친데서 오는것도 있지만 대부분 상승|
|  초기에 매수에 응했던 것이 아니라 마지막 3단계 국면에 가서야 비로소|
|  장세에 대한 낙관을 직시하고 매수에 응해 차익이 별로 없었던데 큰 원|
|  인이 있는 것이다.                                                 |
|. 주가는 천정을 형성하고 나면 꽃이 시드는 것처럼 하락기조에 진입 투 |
|  자자들에게 실망과 여운을 남긴채 시들어만 간다.                    |
|. 따라서 자신의 매입 시점을 생각하기에 앞서 천정권의 특징을 살펴 본 |
|  후 매도시점을 찾는 것이 가장 중요하다.                            |
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|* * *                   주가는 패션과 같다                     * * *|
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|. 인기는 항상 선회한다. 여자들의 옷차림을 보면 사람들이 대개 좋아하 |
|  고 괜찮아 보인다하고 호응을 받는 것이 그 시대에 인기 있는 패션으로|
|  등장하게된다.                                                     |
|. 또한 유행에 민감한 사람은 사람들의 심리를 잘 파악해 유행의 첨단을 |
|  걸을만큼 앞질러 가는 사람이 있는가하면 유행에 둔한 사람은 촌스러울|
|  만큼 뒤떨어진 옷차림을 하고 있다.                                 |
|. 그러나 시대가 지나면 촌스러울만큼 뒤떨어져 보였던 옷이 최신의 인기|
|  있는 옷으로 등속칭"복고풍이 유행"                                 |
|  이라는 말도 유행의 흐름이 어떻게 변하고 있는지와 인기의 속성에 대 |
|  해 잘 말해주고 있는 것중의 하나다.                                |
|. 주식도 항상 한종목이나 업종만이 장을 주도하지 않는다. 좋게 보였던 |
|  종목도 인기가 지나고나면 하락하고만다. 또한 사람들의 관심밖에 있던|
|  종목이 인기주로 부상하여 상승세로 전환하기도 한다.                |
|. 패션의 흐름을 잘 파악하듯 주가의 인기에 민감하게 앞서가는 선견지명|
|  역시 겸비해 둔다면 좋은 투자자로서의 우수한 조건을 갖추었다 할 수 |
|  있겠다.                                                           |
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|    *   *         신고가주와 신저가주를 주시하라          *   *     |
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|.주가는 일정한 가격폭 사이에서 상승과 하락을 계속 반복하는 습성이 있|
| 는데 상승하던 주가가 어느 선까지 간후 가격이 하락하게 되는 선을 저 |
| 항선이라 하고 반대로 주가가 하락하여 내려가다가 일정한 가격선에 닿 |
| 으면 주가가 다시 상승하는데 이선을 지지선이라 한다                 |
|.저항선은 대기 매도세력이 집중되어 있는 곳으로 그 가격까지만 오면 매|
| 도물량이 쏟아져 주가는 더 이상 오르지 못하고 하락하게 되는 것이다. |
| 한편 지지선이란 잠재 매수세력이 집중되어 있는 곳으로 이 가격까지 주|
| 가가 밀리면 매수세력이 집중적으로 달라 붙어 주가가 상승하게 되며 더|
| 이상의 주가하락은 없게 된다                                        |
|.그러나 만약에 주가가 지지선을 뚫고 하락을 하게 되면 평소때 지지선에|
| 서 대기하고 있던 매수세력보다 큰 매도세력이 가세되었다는 의미이기  |
| 때문에 주가에 악영향을 끼치는 재료가 있는 경우가 있으므로 가격이 낮|
| 다는 이유만으로 매수에 가담하다가는 낭패를 볼 수가 있다.반면에 주가|
| 가 저항선을 뚫고 상승을 하여 신고가를 기록하는 경우는 저항선에 머무|
| 르고 있던 대기 매도세력을 능가하는 강한 매수세력이 뒷받침되고 있다 |
| 는 의미이므로 유심히 살펴보아야 한다                               |
|.주가가 한동안 움직이지 않다가 신고가라도 기록하면 재빨리 팔아버리는|
| 투자가가 많이 있는데 이럴때는 새로운 호재에 의한 것인지 아니면 인위|
| 적으로 큰손세력들이 인기를 붙이기 위한 것인지
| 보아야 할 것이다.일반투자가들에게 신고가는 커다란 부담을           |
| 주어 매도하기 쉽게 하고 신저가는 가격이 낮다는 이유로 안심을 갖게  |
| 하여 매수하도록 유혹하는 경우가 많다.그러나 신고가는 과거의 수급상 |
| 태가 변화를 일으켜 주가는 새로운 상승궤도로 진입하는 경우가 많으므 |
| 로 매수를 생각해보고 신저가는 새로운 하락국면을 의미하므로 매도를  |
| 생각해야 한다                                                      |
|.그러나 시세가 한참동안 상승세를 가진 후의 신고가는 팔아야 하며 하락|
| 세를 장기간 걸친 후의 신저가에서는 매수에 가담하는 것이 올바른 투자|
| 방법이다.신고가에 매수하는 방법은 상승초기단계에 해당하며 매도하는 |
| 것은 하락 초기단계에 맞는 투자방법임을 명심해야 한다               |
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