$Tesla Motors(TSLA)$ Surges 12% in a Single Day, Biggest Rally of the Year After Two Weeks, Here's Why ......1. Short Squeeze (Short Squeeze was actually pretty much last week); 2. Gamma Squeeze. not uncommon with Tesla's volatility.Below is the March 19th, TSLA's Charm Exposure for the March 28th expiration (which in this chart refers to the overall sensitivity of Tesla's option positions to Charm)An option's Charm (a.k.a. Delta decay) is a second-order Greek letter that measures the rate of change in an option's Delta value over time.Specifically, it reflects the extent to which the passage of time affects the option's delta if the price of the underlying asset remains constant.Charm = ∂Δ/∂T (Δ is Delta and T is the remaining time to expiration)

A number of Hong Kong companies that have announced earnings in the last two weeks have seen a pullback, and even though the results themselves are not a big deal, they have been abandoned by investors.Among them, $SUNNY OPTICAL(02382)$ plunged -11%, while $BYD ELECTRONIC(00285)$ was down 10.65%.Sunny's performance, for example, although not "perfect", but the market is expected to be more adequate.Comprehensive view:Automotive lens of new energy vehicle penetration rate increase, smartphone market recovery (cell phone lens and module shipments increased by 13.1% and 13.3%, respectively, the penetration rate of high-end models to increase), so the revenue side of the growth rate is also more than expect

Big-Tech’s PerformanceWeekly macro storyline: March FOMC: optimistic or pessimistic?The core of the March FOMC meeting was to ease market pressures through technical tapering adjustments, while keeping interest rates high to curb inflation.Despite the rising risk of economic stagflation, the Fed is still trying to find a balance between "premature easing" and "excessive tightening".The most over-expected move was a dramatic slowdown in tapering from April 1st.The Fed reduced the monthly redemption limit on Treasuries from $25 billion to $5 billion (an 80% reduction).The Fed stressed that the slowdown in tapering is not a shift in monetary policy, mainly in response to changes in the balance of the Treasury's cash account (TGA) and the debt ceiling, while optimizing the structure of the pos

When will $S&P 500(.SPX)$ and $Cboe Volatility Index(VIX)$ plunge in convergence?A conclusion: when the SPX has been falling for close to a month (30 days or so), the "momentum" of the VIX decreases dramatically, and if the market does not have an "extreme selloff" (e.g., a meltdown) or if the market does not expect a selloff (implied volatility is extremely high), the VIX could fall in tandem with the SPX.Why would such a scenario occur?Composition of the VIX IndexThe VIX Index is compiled by $Cboe Global Markets, Inc(CBOE)$ to reflect the market's expectation of volatility over the next 30 days through the implied volatility of options on the S&P 500 Ind

$Tencent Music(TME)$ Q4 delivers an earnings report that "exceeds profit expectations, but subscribers have concerns". $TME-SW(01698)$ Short term, high dividend + buyback support share price; medium term need to verify the logic of subscription user growth rebound and ARPPU improvement; long term competitive landscape is still the biggest variable.Performance and Market FeedbackCore Financial PerformanceTotal Revenue: Q4 $7.46bn (+8.2% yoy), vs. $7.29bn expected; full year $28.4bn (+2.3% yoy)Adjusted net income: Q4 2.5 billion yuan (+43% yoy), expected 2.23 billion yuan; full year 8.14 billion yuan (+30.7% yoy)Online music subscription revenue: full year $15.23 billion (+25.9% yoy), Q4 $4.03 billion (+17.

After the bell on March 20, $Micron Technology(MU)$ will report Q2 FY2025 earnings.Due to price hike expectations in, since the beginning of the year outperformed $Invesco QQQ(QQQ)$ $NVIDIA(NVDA)$ , in the early March wave of the selloff is also quite tenacious performance.Earnings date-weighted implied stock price volatility of ±11.3% is relatively volatile.Expectations for current-quarter results are not too widely divergent at this point, with $Citigroup(C)$ even expecting EPS may improve somewhat: (Citi vs. Consensus)Revenue: $7.9 billion vs $7.9 billionGross Margin: 37.5% vs 37.5%Adjusted EPS: $1.29 vs $1.26But the focus

The consumer market in January-February was characterized by "policy-driven high growth, upgrading and differentiation".The old-for-new policy has given an obvious boost to communications, home appliances and other categories, while service consumption and rural consumption have become new growth points.OverallChina's total retail sales of consumer goods in January-February amounted to RMB 8,373.1 billion, up 4.0% year-on-year (YoY), accelerating by 0.5 percentage points from the annual growth rate in 2023 (3.5%), indicating a sustained recovery in the consumer market.Among them, retail sales of consumer goods excluding automobiles amounted to RMB 7,683.8 billion, with an even higher growth rate of 4.8%, suggesting that automobile consumption was a drag on the overall growth rate. 0.35% ye

Big-Tech’s PerformanceWeekly macro storyline: Powell work with Trump?Although Powell did not pay much attention to Trump, but Trump is repeatedly shouted Powell to cut interest rates.This week's CPI data was unexpectedly lower than expected, the super core services CPI is back to the mid-23 year level, and housing data is generally delayed, and from the industry data in the previous months, the probability of future downward movement is greater.Although the Fed mainly looks at PCE, overall inflation is trending downward, and inflation is currently an important bridge between Powell and Trump (both want to drop).But inflation now has tariffs as a variable, and Powell is not willing to take "depends on the data" this kind of rhetoric to deal with the market (because the tariffs are going to

Performance and Market Feedback $UiPath(PATH)$ financial performance for the fourth quarter of FY2025 is as follows:Revenue: Revenue for the fourth quarter was $424M, up 5% year-over-year.Adjusting for the impact of foreign exchange, revenue was $426MARR: Annual Recurring Revenue (ARR) of $166.6B for the year ending January 31, 2025, up 14% year-over-yearNet New ARR: Q4 Net New ARR of $60MNet Retention Rate: 110 percentGAAP Gross Profit Margin: 85%; Non-GAAP Gross Profit Margin: 87GAAP operating income: $34 million; non-GAAP operating income: $134 millionEarnings per share (EPS): $0.26, beating expectations of $0.20Despite the EPS beat, UiPath's shares plunged 15.89% in after-hours trading, likely due to broader market uncertainty as well as speci

$Adobe(ADBE)$ outperformed in Q1 of FY2025, but guidance was weaker and AI product monetization capabilities will have a validation window after Summit.Performance and Market FeedbackKey financial indicators exceeded expectations across the boardOperating Income: $5.71B (+11%YoY), beating market expectation of $5.66B; Adjusted EPS: $5.08 (+13%YoY), higher than expectation of $4.97Operating cash flow: $2.48B (+18%YoY), supporting 7M share repurchaseRemaining Performance Obligations (RPO): $19.69BSolid growth in core businessesDigital Media Revenue: +11% YoY, with Creative Cloud subscription growth acceleratingDigital Experience Revenue: +10% YoY, with increased penetration of enterprise-side AI solutionsMarket reaction and valuation gameShares fell

Kohl's (KSS) Q4 2024 (ending February 1, 2025) earnings report presents a two-sided picture of earnings beat but weak growth momentum and dampened market confidence. $Kohl's(KSS)$ Performance and market feedbackCore Financial PerformanceRevenue: Q4 net sales of $5.2B (-9.4% YoY), comparable sales of -6.7%, slightly ahead of market expectations of $5.19B but down significantly YoYMargin: Gross margin 32.9% (+49bps YoY) thanks to promotion optimization and lower digital penetration; however, SG&A expense ratio rose to 28.5% (+148bps YoY), reflecting faster revenue declines than cost controlsEarnings: Adjusted EPS of $0.95 (-43% YoY) beat estimate of $0.72; however, GAAP net profit of $48M (-74% YoY) showed drag from one-off expenses.Market reacti

$Oracle(ORCL)$ Q3 FY2025C results highlight a strong demand environment, particularly in its cloud and AI segments.The company achieved record order intake and demonstrated strong financial discipline while improving shareholder returns, but current period results were somewhat short of expectations;Looking ahead, Oracle's strategic focus on artificial intelligence and multi-cloud partnerships puts it in a position to accelerate growth, with revenues expected to grow by approximately 20% in fiscal 2027.Performance and Market FeedbackCore Financial IndicatorsTotal Revenue: $14.1B (+6% yoy, +8% FX), below market expectation of $14.39BCloud Services & License Support Revenue: $11.0B (+10% yoy, FX +12%), 78% of revenue, but below estimates of $11.

U1S1, leaving Trump with a mess indeed.The Root of the Problem: The Triffin Dilemma and Global ImbalancesWhat is the Triffin Dilemma?The core logic is this:When a country's currency assumes the dual functions of international reserve currency and domestic currency at the same time, the country is caught in an irreconcilable contradiction.Short-term demand: The growth of global trade requires the country to provide liquidity through sustained balance of payments deficits (exporting currency);Long-term paradox: chronic deficits can weaken the credit base of the currency, eventually leading to the collapse of its status as a reserve currency.What is happening now isChronic overvaluation of the dollar: The inelastic demand for the dollar as the global reserve currency has led to its chronic ov

Big-Tech’s PerformanceWeekly macro storyline: Exodus of "US Exceptionalism" trade. In the last two weeks, market risk appetite has taken an extreme turn, with AI-narrative chipmakers tumbling, pulling the Nasdaq back as a whole, and risk aversion rising, while the Trump administration's tariffs have continued to make waves and even become a primary focus of the market.Investors lowered their dollar longs and flocked to Europe and Asia to diversify into the U.S. market.Unlike the 2018 period, U.S. stock valuations are now at elevated levels, the market (institutional investor behavior with consistency such as CTAs) is cautious, and growth expectations are weakening (retail data from Walmart/Target/Bestbuy, etc.), overlaying not Price-in too much Trump policy uncertainty previously the marke