The Portfolio Strategy Based on Branch Overbuy and Oversell Index

碩士 === 國立高雄科技大學 === 金融資訊系 === 107 === This research focuses on the investment strategy that is based on the number of buyers and sellers in brokerage firms. Using a sample comprising the Taiwan 50 Index and Taiwan Mid-Cap 100 Index, take the average returns rate on a weekly, monthly, and quarterly b...

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Bibliographic Details
Main Authors: Wen Hui Yang, 楊文惠 
Other Authors: Lo,Chih-Hsien
Format: Others
Language:zh-TW
Published: 2019
Online Access:http://ndltd.ncl.edu.tw/handle/zw9vv7
Description
Summary:碩士 === 國立高雄科技大學 === 金融資訊系 === 107 === This research focuses on the investment strategy that is based on the number of buyers and sellers in brokerage firms. Using a sample comprising the Taiwan 50 Index and Taiwan Mid-Cap 100 Index, take the average returns rate on a weekly, monthly, and quarterly basis and segment the results into five categories. Comparing the five categories, prove that where the ratio of negative discrepancy in the number of buyers and sellers is higher, the probability of entering the market spontaneously is higher and so will be the returns. Period of Study: January 2014 - September 2018 for a total of 247 trading weeks. The results show that where the ratio of negative discrepancy in the number of buyers and sellers is higher, the stock performance tends to be not satisfactory. By contrast, where the ratio of negative discrepancy is lower, the average returns rate was higher. This indicates that the primary stimulant could be the stocks were already in hand for a period of time (ratio of negative discrepancy between buyers and sellers is higher), the stock price is increasing, and therefore selling would generate a profit. This led to a negative weekly average rate of return when the stock price decreased. Shifting the focus to a previously overlooked stock (ratio of negative discrepancy between buyers and sellers is lower) and potentially stimulating it with increased buying, resulted in an increased stock price and a positive the weekly average rate of return.