On the basis of analyzing the abnormal conditions from investing in stock market, the inner mechanism of long-term bearish market is pointed out and some relevant advices are put forward to protect capital investors.

• 在对股市投资的“异象”进行分析的基础上，指出熊市“漫漫”的内在机理，并提出了相应的保护资本投资者的建议。