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211013能量飞车
211013能量飞车
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2022-12-28
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211013能量飞车
211013能量飞车
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2022-12-13
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After a 33% surge, can Hong Kong stocks still chase?
大涨后，港股的估值修复行情其实已经差不多完成了。
After a 33% surge, can Hong Kong stocks still chase?
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211013能量飞车
211013能量飞车
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2022-12-13
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211013能量飞车
211013能量飞车
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2022-12-12
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211013能量飞车
211013能量飞车
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2022-12-07
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Revisit the classic of Livermore, the king of speculation: revealing the secrets of trading!
有人说凡事都有两面，但是股市只有一面，不是多头的一面或空头的一面，而是事实的一面。让这条通则深深印在我的脑海里，所花费的时间，远远超过股票投机游戏中大多数比较技术层次的东西。今天，与大家分享来自华尔街
Revisit the classic of Livermore, the king of speculation: revealing the secrets of trading!
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211013能量飞车
211013能量飞车
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2022-12-02
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Large option orders | Institutions manipulate ultra-short-term rights, and AMC cinema changes release a short squeeze signal?
周四的美股期权合约总成交量为40,966,020份，较前一个交易日下跌了11%。
Large option orders | Institutions manipulate ultra-short-term rights, and AMC cinema changes release a short squeeze signal?
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211013能量飞车
211013能量飞车
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2022-11-23
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211013能量飞车
211013能量飞车
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2022-11-01
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211013能量飞车
211013能量飞车
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2022-08-20
$西方石油(OXY)$
🚀🚀🚀🎁🎁🎁💤💰💰💰
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211013能量飞车
211013能量飞车
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2022-08-14
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Last night and this morning | The S&P Nasdaq has risen for 4 consecutive weeks! The latest 13F position exposure
美股收高，标普与纳指连续第四周上涨；美国国会众议院投票通过通胀削减法案；知名机构景林、文艺复兴Q2美股持仓曝光；5家中企宣布启动美股退市>>>海外市场收盘：美股周五收高，标普与纳指连续第四周上涨美股周
Last night and this morning | The S&P Nasdaq has risen for 4 consecutive weeks! The latest 13F position exposure
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23:24","market":"hk","language":"zh","title":"After a 33% surge, can Hong Kong stocks still chase?","url":"https://stock-news.laohu8.com/highlight/detail?id=1129031119","media":"懒猫的丰收日","summary":"大涨后，港股的估值修复行情其实已经差不多完成了。","content":"<p><html><head></head><body>Down, down, down,</p><p>Monday, December 12th,<b>The Hang Seng Technology Index fell 4% and the Hang Seng Index fell 2.2%.</b></p><p><img src=\"https://static.tigerbbs.com/867f9086963978402f2981d477aa9222\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Even A-shares also fell, and the three major indexes all closed down by nearly 1%.</p><p>However, looking at the comments, everyone doesn't seem to be worried about the sudden drop:<b>If you dare to fall, I will dare to make up for it. If it doesn't fall, then that's it!</b></p><p>Also, under the resonance of multiple positive factors, Hong Kong stocks collectively soared in November.<b>The Hang Seng Index rose 26.62%, the biggest monthly increase for the Hang Seng Index since 2000.</b></p><p>Even since its establishment in 1964, this increase can rank 8th!</p><p><img src=\"https://static.tigerbbs.com/16900e6b7d72b1a105d706f0af700b5c\" tg-width=\"302\" tg-height=\"511\" referrerpolicy=\"no-referrer\"/></p><p>If the increase in December is also included, the increase of the Hang Seng Index can reach an astonishing 32.52%, leading the major global markets.</p><p>A cloud-piercing arrow, thousands of troops come to meet each other. Under such a skyrocketing rise, naturally everyone should no longer despair of Hong Kong stocks.</p><p>However, another problem followed after the surge:<b>Can Hong Kong stocks still be chased?</b></p><p><img src=\"https://static.tigerbbs.com/14c677a3b3daf779fdd53f4c10fbb34c\" tg-width=\"568\" tg-height=\"557\" referrerpolicy=\"no-referrer\"/></p><p><b>01 Why did it go up?</b></p><p>First, let's talk about why Hong Kong stocks rose, mainly for these four reasons:</p><p><b>(1) The pace of the Fed's rate hike is slowing down</b></p><p>Hong Kong stocks are an offshore market, and the ups and downs are mainly affected by the liquidity of the US dollar.</p><p>Most of the time, when the US dollar falls, Hong Kong stocks rise; When the U.S. dollar rises, Hong Kong stocks fall.</p><p><img src=\"https://static.tigerbbs.com/927fd6994f3915fad342737337dfa553\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\"/></p><p>For example, in the sharp drop in the past few months, the Hong Kong stock market fell as low as 14,600 points, which was 20% lower than the low point in March (18,200). A direct reason is that the Federal Reserve continues to conduct violent rate hike, which has brought global stock markets, including Hong Kong stocks, down.</p><p>Therefore, since November, as expectations for a slowdown in the pace of the Federal Reserve's rate hike have become stronger and stronger, the US Dollar Index has been falling all the way, from 113 to 105, and Hong Kong stocks have also responded, rising from 14,500 points to 20,000 points.</p><p><b>(2) Domestic fundamentals have improved and foreign capital has returned</b></p><p>There is no need to talk about this. After the liberalization, the biggest expectation of the market is \"economic recovery\".</p><p>Driven by this expectation, real estate has risen and consumption has risen.<b>Even foreign capital has begun to bargain-hunting Chinese assets again.</b></p><p>Since November, JPMorgan Chase & Co. has increased its holdings of 18.9 billion Hong Kong stocks, and UBS has increased its holdings of 14.4 billion Hong Kong stocks.</p><p><img src=\"https://static.tigerbbs.com/038d73022fe4af00ea86c6db44a50ef3\" tg-width=\"1080\" tg-height=\"164\" referrerpolicy=\"no-referrer\"/></p><p>Compare the data from February 2021 to October this year,</p><p>JPMorgan Chase has reduced its holdings of 37.8 billion Hong Kong stocks, and UBS has reduced its holdings of 27.4 billion Hong Kong stocks...</p><p>It took more than a month to take back half of the chips sold in the past two years.</p><p>Suddenly, like a spring breeze overnight, the foreign capital that once voted with its feet came back ~</p><p><img src=\"https://static.tigerbbs.com/3c8eaad9e0909426242ddc292eefc9b2\" tg-width=\"1080\" tg-height=\"164\" referrerpolicy=\"no-referrer\"/></p><p><b>(3) The inflection point of Internet performance</b></p><p>This is coming to the third quarterly report.<b>After reducing costs and increasing efficiency, the performance of Internet companies has improved significantly.</b></p><p>In the third quarter, Tencent's performance growth rate turned positive, and the performance of Pinduoduo, Kuaishou, and Meituan also exceeded market expectations, so that the agency's summary of the third quarterly report of the Internet was that \"the performance of most companies exceeded expectations, and the turning point of recovery gradually became clear.\"</p><p><img src=\"https://static.tigerbbs.com/b850f0e8794fb2bf97a8fd7e821fcd1a\" tg-width=\"731\" tg-height=\"146\" referrerpolicy=\"no-referrer\"/></p><p><b>(4) It fell a lot</b></p><p>This is also a very important reason,</p><p>A few days ago, Lazy Cat also wrote that the biggest decline of the Hang Seng Technology Index in this wave was 75%. Although it has rebounded by 50% now, it still needs to rise by another 164% to return to the highest point.</p><p>The same goes for the Hang Seng Index,</p><p>Before the decline, the Hang Seng Index fell from a high of 31183, and the lowest fell to 14597, a full drop of 53%.</p><p>Although it has rebounded to 19464 now, it is still 60% away from the highest point.</p><p><b>02 Where are you now?</b></p><p><b>(1) Evaluation</b></p><p>Since US dollar liquidity is an important factor in determining the rise and fall of Hong Kong stocks, let's take a look<b>The \"risk premium rate\" of the Hang Seng Index relative to U.S. bonds.</b></p><p><img src=\"https://static.tigerbbs.com/13d675bd7cadf8708496b0fde21104f8\" tg-width=\"971\" tg-height=\"544\" referrerpolicy=\"no-referrer\"/></p><p><b>1) 8.56% is an opportunity point. After several big bottoms, the risk premium rate of the Hang Seng Index relative to U.S. bonds has exceeded 8.56%.</b></p><p><b>2) On March 15 and the end of October this year, the risk premium rate of the Hang Seng Index relative to U.S. bonds also exceeded 9%, which led to the two waves of big market trends that followed.</b></p><p>It is more obvious to look at the percentile map, that is, the two sharp points circled, one is March 15th and the other is the end of October. The percentiles are above 90%, which is absolutely underestimated.</p><p><img src=\"https://static.tigerbbs.com/f33db11ba13f59f99b2de11591b25be5\" tg-width=\"967\" tg-height=\"555\" referrerpolicy=\"no-referrer\"/></p><p><b>3) As for now, the risk premium rate of the Hang Seng Index relative to U.S. bonds is 6.71%, which is far away from the opportunity point and near the historical average.</b></p><p><b>In terms of valuation, under the current level of U.S. bond yields, the valuation price-performance ratio of the Hang Seng Index is actually not that high.</b></p><p>But it's not so pessimistic,</p><p><b>Compared with itself, looking at the PE valuation, the PE of the Hang Seng Index is only 9.73 times, which is still near the opportunity value.</b></p><p><b>Moreover, the PE percentile of the Hang Seng Index is only 32.64%, and the valuation is lower than 2/3 of history.</b></p><p><img src=\"https://static.tigerbbs.com/c1460473828e11cae91ad86e3cf2c5cf\" tg-width=\"961\" tg-height=\"531\" referrerpolicy=\"no-referrer\"/></p><p><b>(2) Position cost line</b></p><p>Let's look at everyone's cost line,</p><p>A few days ago, Lazy Cat conducted a survey: see what everyone's position cost line is.</p><p><b>The position cost line of the Hang Seng Technology Index is around 5,500 points, which is converted into the beginning of this year.</b></p><p><b>Corresponding to the Hang Seng Index, at the beginning of this year, the point of the Hang Seng Index was around 24,000 points, and the Hang Seng Index was still far from a strong selling pressure (the position of capital guarantee).</b></p><p><img src=\"https://static.tigerbbs.com/a17dc85daf23747183ca1ce07cb72593\" tg-width=\"1080\" tg-height=\"638\" referrerpolicy=\"no-referrer\"/></p><p><b>03</b></p><p>Finally, the main points are refined:</p><p>(1) Hong Kong stocks are an offshore market. The fundamentals follow the domestic market, and the liquidity follows the US dollar. Under the dual benefits of the slowdown of the Federal Reserve's rate hike and the recovery of the domestic economy, there has been a retaliatory rise since November.</p><p>At the same time, the continuous outflow of foreign capital has also returned, and half of the chips sold in the past two years have been taken back in more than a month.</p><p><b>(2) After the surge, the valuation repair of Hong Kong stocks has actually been almost completed. From the perspective of risk premium, the \"risk premium rate\" of the Hang Seng Index relative to U.S. bonds has returned to near the historical average level, and the price-performance ratio of stocks and bonds is not so high.</b></p><p><b>(3) However, compared with itself vertically, the valuation level of Hong Kong stocks is still not high, and it is still attractive. And there is still a certain distance from the cost line of most people. There may be a take-profit order at this position, but the selling pressure should not be that big.</b></p><p></body></html></p>","source":"lsy1624331313526","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>After a 33% surge, can Hong Kong stocks still chase?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAfter a 33% surge, can Hong Kong stocks still chase?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">懒猫的丰收日</strong><span class=\"h-time small\">2022-12-12 23:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Down, down, down,</p><p>Monday, December 12th,<b>The Hang Seng Technology Index fell 4% and the Hang Seng Index fell 2.2%.</b></p><p><img src=\"https://static.tigerbbs.com/867f9086963978402f2981d477aa9222\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>Even A-shares also fell, and the three major indexes all closed down by nearly 1%.</p><p>However, looking at the comments, everyone doesn't seem to be worried about the sudden drop:<b>If you dare to fall, I will dare to make up for it. If it doesn't fall, then that's it!</b></p><p>Also, under the resonance of multiple positive factors, Hong Kong stocks collectively soared in November.<b>The Hang Seng Index rose 26.62%, the biggest monthly increase for the Hang Seng Index since 2000.</b></p><p>Even since its establishment in 1964, this increase can rank 8th!</p><p><img src=\"https://static.tigerbbs.com/16900e6b7d72b1a105d706f0af700b5c\" tg-width=\"302\" tg-height=\"511\" referrerpolicy=\"no-referrer\"/></p><p>If the increase in December is also included, the increase of the Hang Seng Index can reach an astonishing 32.52%, leading the major global markets.</p><p>A cloud-piercing arrow, thousands of troops come to meet each other. Under such a skyrocketing rise, naturally everyone should no longer despair of Hong Kong stocks.</p><p>However, another problem followed after the surge:<b>Can Hong Kong stocks still be chased?</b></p><p><img src=\"https://static.tigerbbs.com/14c677a3b3daf779fdd53f4c10fbb34c\" tg-width=\"568\" tg-height=\"557\" referrerpolicy=\"no-referrer\"/></p><p><b>01 Why did it go up?</b></p><p>First, let's talk about why Hong Kong stocks rose, mainly for these four reasons:</p><p><b>(1) The pace of the Fed's rate hike is slowing down</b></p><p>Hong Kong stocks are an offshore market, and the ups and downs are mainly affected by the liquidity of the US dollar.</p><p>Most of the time, when the US dollar falls, Hong Kong stocks rise; When the U.S. dollar rises, Hong Kong stocks fall.</p><p><img src=\"https://static.tigerbbs.com/927fd6994f3915fad342737337dfa553\" tg-width=\"1080\" tg-height=\"573\" referrerpolicy=\"no-referrer\"/></p><p>For example, in the sharp drop in the past few months, the Hong Kong stock market fell as low as 14,600 points, which was 20% lower than the low point in March (18,200). A direct reason is that the Federal Reserve continues to conduct violent rate hike, which has brought global stock markets, including Hong Kong stocks, down.</p><p>Therefore, since November, as expectations for a slowdown in the pace of the Federal Reserve's rate hike have become stronger and stronger, the US Dollar Index has been falling all the way, from 113 to 105, and Hong Kong stocks have also responded, rising from 14,500 points to 20,000 points.</p><p><b>(2) Domestic fundamentals have improved and foreign capital has returned</b></p><p>There is no need to talk about this. After the liberalization, the biggest expectation of the market is \"economic recovery\".</p><p>Driven by this expectation, real estate has risen and consumption has risen.<b>Even foreign capital has begun to bargain-hunting Chinese assets again.</b></p><p>Since November, JPMorgan Chase & Co. has increased its holdings of 18.9 billion Hong Kong stocks, and UBS has increased its holdings of 14.4 billion Hong Kong stocks.</p><p><img src=\"https://static.tigerbbs.com/038d73022fe4af00ea86c6db44a50ef3\" tg-width=\"1080\" tg-height=\"164\" referrerpolicy=\"no-referrer\"/></p><p>Compare the data from February 2021 to October this year,</p><p>JPMorgan Chase has reduced its holdings of 37.8 billion Hong Kong stocks, and UBS has reduced its holdings of 27.4 billion Hong Kong stocks...</p><p>It took more than a month to take back half of the chips sold in the past two years.</p><p>Suddenly, like a spring breeze overnight, the foreign capital that once voted with its feet came back ~</p><p><img src=\"https://static.tigerbbs.com/3c8eaad9e0909426242ddc292eefc9b2\" tg-width=\"1080\" tg-height=\"164\" referrerpolicy=\"no-referrer\"/></p><p><b>(3) The inflection point of Internet performance</b></p><p>This is coming to the third quarterly report.<b>After reducing costs and increasing efficiency, the performance of Internet companies has improved significantly.</b></p><p>In the third quarter, Tencent's performance growth rate turned positive, and the performance of Pinduoduo, Kuaishou, and Meituan also exceeded market expectations, so that the agency's summary of the third quarterly report of the Internet was that \"the performance of most companies exceeded expectations, and the turning point of recovery gradually became clear.\"</p><p><img src=\"https://static.tigerbbs.com/b850f0e8794fb2bf97a8fd7e821fcd1a\" tg-width=\"731\" tg-height=\"146\" referrerpolicy=\"no-referrer\"/></p><p><b>(4) It fell a lot</b></p><p>This is also a very important reason,</p><p>A few days ago, Lazy Cat also wrote that the biggest decline of the Hang Seng Technology Index in this wave was 75%. Although it has rebounded by 50% now, it still needs to rise by another 164% to return to the highest point.</p><p>The same goes for the Hang Seng Index,</p><p>Before the decline, the Hang Seng Index fell from a high of 31183, and the lowest fell to 14597, a full drop of 53%.</p><p>Although it has rebounded to 19464 now, it is still 60% away from the highest point.</p><p><b>02 Where are you now?</b></p><p><b>(1) Evaluation</b></p><p>Since US dollar liquidity is an important factor in determining the rise and fall of Hong Kong stocks, let's take a look<b>The \"risk premium rate\" of the Hang Seng Index relative to U.S. bonds.</b></p><p><img src=\"https://static.tigerbbs.com/13d675bd7cadf8708496b0fde21104f8\" tg-width=\"971\" tg-height=\"544\" referrerpolicy=\"no-referrer\"/></p><p><b>1) 8.56% is an opportunity point. After several big bottoms, the risk premium rate of the Hang Seng Index relative to U.S. bonds has exceeded 8.56%.</b></p><p><b>2) On March 15 and the end of October this year, the risk premium rate of the Hang Seng Index relative to U.S. bonds also exceeded 9%, which led to the two waves of big market trends that followed.</b></p><p>It is more obvious to look at the percentile map, that is, the two sharp points circled, one is March 15th and the other is the end of October. The percentiles are above 90%, which is absolutely underestimated.</p><p><img src=\"https://static.tigerbbs.com/f33db11ba13f59f99b2de11591b25be5\" tg-width=\"967\" tg-height=\"555\" referrerpolicy=\"no-referrer\"/></p><p><b>3) As for now, the risk premium rate of the Hang Seng Index relative to U.S. bonds is 6.71%, which is far away from the opportunity point and near the historical average.</b></p><p><b>In terms of valuation, under the current level of U.S. bond yields, the valuation price-performance ratio of the Hang Seng Index is actually not that high.</b></p><p>But it's not so pessimistic,</p><p><b>Compared with itself, looking at the PE valuation, the PE of the Hang Seng Index is only 9.73 times, which is still near the opportunity value.</b></p><p><b>Moreover, the PE percentile of the Hang Seng Index is only 32.64%, and the valuation is lower than 2/3 of history.</b></p><p><img src=\"https://static.tigerbbs.com/c1460473828e11cae91ad86e3cf2c5cf\" tg-width=\"961\" tg-height=\"531\" referrerpolicy=\"no-referrer\"/></p><p><b>(2) Position cost line</b></p><p>Let's look at everyone's cost line,</p><p>A few days ago, Lazy Cat conducted a survey: see what everyone's position cost line is.</p><p><b>The position cost line of the Hang Seng Technology Index is around 5,500 points, which is converted into the beginning of this year.</b></p><p><b>Corresponding to the Hang Seng Index, at the beginning of this year, the point of the Hang Seng Index was around 24,000 points, and the Hang Seng Index was still far from a strong selling pressure (the position of capital guarantee).</b></p><p><img src=\"https://static.tigerbbs.com/a17dc85daf23747183ca1ce07cb72593\" tg-width=\"1080\" tg-height=\"638\" referrerpolicy=\"no-referrer\"/></p><p><b>03</b></p><p>Finally, the main points are refined:</p><p>(1) Hong Kong stocks are an offshore market. The fundamentals follow the domestic market, and the liquidity follows the US dollar. Under the dual benefits of the slowdown of the Federal Reserve's rate hike and the recovery of the domestic economy, there has been a retaliatory rise since November.</p><p>At the same time, the continuous outflow of foreign capital has also returned, and half of the chips sold in the past two years have been taken back in more than a month.</p><p><b>(2) After the surge, the valuation repair of Hong Kong stocks has actually been almost completed. From the perspective of risk premium, the \"risk premium rate\" of the Hang Seng Index relative to U.S. bonds has returned to near the historical average level, and the price-performance ratio of stocks and bonds is not so high.</b></p><p><b>(3) However, compared with itself vertically, the valuation level of Hong Kong stocks is still not high, and it is still attractive. And there is still a certain distance from the cost line of most people. There may be a take-profit order at this position, but the selling pressure should not be that big.</b></p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/js9T0kZGCS1HYCOZkK424A\">懒猫的丰收日</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0cf777090175126e4590c3b8afdfe41e","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://mp.weixin.qq.com/s/js9T0kZGCS1HYCOZkK424A","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129031119","content_text":"跌了，跌了，12月12日周一，恒生科技指数跌了4%，恒生指数跌了2.2%。连带着A股也跟着颓了，三大指数收盘都跌了将近1%。不过看评论，大家对突如其来的大跌似乎并不担心：你敢跌，我就敢补，如果不跌，那就这样吧！也是，多重利好共振下，11月港股集体暴涨，恒生指数大涨26.62%，这是2000年以来恒指涨幅最大的一个月。即使从1964年成立以来算，这个涨幅也能排第8！如果把12月的涨幅也算进去的话，恒指的涨幅更是能达到惊人的32.52%，领跑全球主要市场。一根穿云箭，千军万马来相见，如此暴涨之下，大家自然不应该对港股再绝望。不过，大涨后另一个问题也随之而来：港股还能追吗？01为什么涨？先说说港股为什么涨，主要是这4个原因：（1）美联储加息节奏放缓港股是一个离岸市场，涨跌也主要受美元流动性的影响。大部分时间里，美元跌，港股就涨；美元涨，港股就跌。比如前几个月的大跌，港股最低跌到14600点，比3月份的低点（18200）还低了20%。一个直接原因就是美联储持续暴力加息，把包括港股在内的全球股市都拉下了水。所以，11月以来，随着美联储加息节奏放缓的预期越来越强烈，美元指数是一路下跌，从113跌到了105，港股也应声而起，从14500点涨回到了20000点。（2）国内基本面好转，外资又回来了这个就不用展开说了，放开后，市场最大的预期就是“经济复苏”。在这个预期带动下，地产涨了，消费涨了，连带着外资也开始重新抄底中国资产了。11月以来，摩根大通（JPMorgan Chase &Co.）净增持了189亿港股，瑞银（UBS）增持了144亿港股。再对比下2021年2月到今年10月的数据，摩根大通累积减持了378亿港股，瑞银累积减持了274亿港股...一个多月就把过去2年抛售筹码的一半接回来了。忽如一夜春风来，曾经用脚投票的外资又回来了~（3）互联网业绩拐点这就要说到三季报了，降本增效后，互联网公司业绩明显改善。三季度，腾讯业绩增速转正，拼多多、快手、美团的业绩也超出了市场预期，以至于机构对互联网三季报的总结是“多数公司业绩超预期，复苏拐点逐步明晰”。（4）跌的多了这也是一个很重要的原因，前几天，懒猫还写过，这一波恒生科技指数最大跌幅是75%，现在虽然反弹了50%+，但回到最高点还需要再涨164%。恒生指数也一样，下跌前，恒生指数是从31183的高点跌下来的，最低跌到14597，足足跌了53%。现在虽然反弹到了19464，但离最高点还有60%的距离。02现在走到哪了？（1）估值既然美元流动性是决定港股涨跌的重要因素，那我们看下恒生指数相对于美债的“风险溢价率”。1）8.56%是一个机会点，几次大的底部，恒生指数相对美债的风险溢价率都超过了8.56%。2）今年3月15日和10月底，恒生指数相对美债的风险溢价率也都超过了9%，这才有了随之而来的两波大行情。看百分位图更明显，就是圈出来的那2个尖点，一个是3月15日，一个是10月底，百分位都在90%以上，绝对的低估。3）至于现在，恒生指数相对美债的风险溢价率是6.71%，已经远离了机会点，历史平均值附近。从估值上来说，在当前美债收益率水平下，恒生指数的估值性价比其实已经没那么高了。但也没那么悲观，和自身对比，看PE估值的话，恒生指数的PE只有9.73倍，还在机会值附近。而且恒指的PE百分位也只有32.64%，估值比历史上2/3的时候都低。（2）持仓成本线再看大家的成本线，前几天懒猫搞过一个调查：看看大家的持仓成本线是多少。恒生科技指数的持仓成本线在5500点附近，换算成时间也就是今年年初的时候。对应到恒生指数上，今年年初，恒生指数的点位在24000点附近，恒指离强抛压（保本出的位置）仍有一定距离。03最后提炼下要点：（1）港股是一个离岸市场，基本面跟着国内走，流动性跟着美元走，在美联储加息节奏放缓和国内经济复苏的双重利好下，11月以来出现了报复性上涨。与此同时，持续流出的外资也回来了，一个多月就把过去2年抛售筹码的一半接回来了。（2）大涨后，港股的估值修复行情其实已经差不多完成了。从风险溢价的角度来看，恒指相对美债的“风险溢价率”已经回到历史平均水平附近，股债性价比没那么高了。（3）但和自身纵向对比，港股的估值水平仍然算不得高，还有吸引力。而且离大部分人的成本线也还有一定距离，这个位置可能有止盈盘，但抛压应该没那么大。","news_type":1,"symbols_score_info":{"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":2642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923724448,"gmtCreate":1670917627884,"gmtModify":1676538459629,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923724448","repostId":"1150737270","repostType":2,"isVote":1,"tweetType":1,"viewCount":2383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923817951,"gmtCreate":1670822861374,"gmtModify":1676538440963,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923817951","repostId":"1195548564","repostType":2,"isVote":1,"tweetType":1,"viewCount":2857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9920040663,"gmtCreate":1670403854352,"gmtModify":1676538361062,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9920040663","repostId":"1168304633","repostType":4,"repost":{"id":"1168304633","kind":"news","pubTimestamp":1670338784,"share":"https://ttm.financial/m/news/1168304633?lang=en_US&edition=fundamental","pubTime":"2022-12-06 22:59","market":"sh","language":"zh","title":"Revisit the classic of Livermore, the king of speculation: revealing the secrets of trading!","url":"https://stock-news.laohu8.com/highlight/detail?id=1168304633","media":"期乐会","summary":"有人说凡事都有两面，但是股市只有一面，不是多头的一面或空头的一面，而是事实的一面。让这条通则深深印在我的脑海里，所花费的时间，远远超过股票投机游戏中大多数比较技术层次的东西。今天，与大家分享来自华尔街","content":"<p><html><head></head><body>Some people say that everything has two sides, but there is only one side of the stock market, not the long side or the short side, but the fact side. It takes far more time to get this general rule deeply imprinted in my mind than most of the more technical things in the stock speculation game.</p><p>Today, I would like to share with you some key points of investment philosophy from Livermore, the king of Wall Street speculation. It is beneficial to open the book. I wish you all something!</p><p><b>Point 1: Wall Street will not change, human nature will not change</b></p><p>The market is regular, and the regularity of the market is due to the constant human nature.</p><p>One of the lessons I learned early in the stock market is that there is nothing new on Wall Street, because speculation is as old as mountains. What happened to the stock market today has happened before and will happen again. I guess what I really can't remember is when and how. The fact that I remember in this way, is the way I use experience.</p><p>Wall Street never changes, because human nature never changes.</p><p>I believe that being unable to control one's emotions is the real sworn enemy of speculators. Fear and greed are always there, and they are hidden in our hearts. They are waiting outside the market to jump into the market to perform, waiting for the opportunity to make a fortune; No matter at any time, fundamentally because of greed and fear, ignorance and hope, people always repeat their actions in the same way-which is why those figures and trends formed by numbers always repeat themselves.</p><p><img src=\"https://static.tigerbbs.com/8dfda976f6f6063e48351d7a18d95c47\" tg-width=\"335\" tg-height=\"236\" referrerpolicy=\"no-referrer\"/></p><p><b>Point 2: Making big money depends on patient \"waiting\"</b></p><p>Wait patiently for the truly perfect trend of the market, and don't make predictive interventions; Timing is everything, buy at the right time and sell at the right time.</p><p>Trading is not something to do every day. People who think they have to trade at any time ignore a condition, that is, trading requires reasons, and it is an objective and appropriate reason.</p><p>In addition to trying to decide how to make money, traders must try to avoid losing money. Knowing what should be done is almost as important as knowing what should not be done.</p><p>Stock operators have to fight against many costly enemies in their hearts. Making big money depends on waiting, not thinking; Be sure to wait until the time when all factors are in your favor.</p><p>The reason why it is so difficult to predict the market is because of human nature. Harnessing and conquering human nature is the most difficult task. It is very important to choose the timing carefully. Once you act too hastily, there will be a price to pay.</p><p>My loss was entirely caused by my lack of patience, and I didn't patiently wait for the right moment to support the opinions and plans that had been formed in advance. After 15 years of not understanding, there are things that allowed me to wait for two weeks to see the stock I am very optimistic about rise by 30 points before I feel safe to buy.</p><p>This requires patience, waiting for the right key point to appear, waiting for the right trading opportunity. Patience, patience, patience again, this is his secret to seizing the opportunity and succeeding. He often said, \"What makes money is not ideas, but waiting\".</p><p>All a person needs to do, is watch what the market is telling him and react to it. The answer lies in the market itself, and the challenge comes from making a correct interpretation of the facts presented.</p><p>\"Timing is everything\". Before entering a trade, the most important thing is to determine whether the minimum resistance line is in the same direction as your trade.</p><p>My experience is that if I don't enter the market near the beginning of a trend, I absolutely won't make much profit from that trend. The reason is, I missed out on the profit reserve.</p><p>With this kind of courage and patience, he can wait and watch the changes in the market, and he can hold shares in the face of small falls or rebounds that will inevitably continue to occur before the end of this market.</p><p>The market will signal you in time when to enter the market. It is also certain that the market will signal you to exit in time-if you wait patiently.</p><p>\"Rome wasn't built in a day\", and really big trends don't end in a day or a week. It takes time for it to go through its own logical process.</p><p>In many cases, Livermore is holding the currency and waiting and watching until the right market appears. Many of his successes lie in his ability to wait and see and wait patiently until the right market appears in front of him.</p><p>When the market appears and there are many opportunities in his favor, at this time, and only at this time, he darts out like a cobra.</p><p>One of the key points of my later trading theory was: only trade on key points. As long as I have patience and trade on key points, I can always make money. I also think that the largest part of a stock's market tends to occur in the last two weeks or longer of this market.</p><p>But remember, when using key points to predict the market, if the stock doesn't behave as it should after crossing the key point, it is an important red flag that needs immediate attention. As long as I lose patience and don't wait until the key point appears, but make money as easily, I will definitely lose money.</p><p>In addition, it should be noted that at the end of a market, the trading volume increases significantly, which is often a real distribution. Because stocks have been transferred from strong hands to weak hands, from professional traders to ordinary investors.</p><p>The average investor believes that the sharp increase in trading volume is a signal of an active and healthy market after a normal adjustment-either to the highest price or to the lowest price-but this view is unfounded.</p><p>I want to make it clear to those who are willing to regard speculation as a serious business, and I wish to solemnly reiterate that wishful thinking must be eliminated; Those who expect to speculate every day or every week will not succeed; The number of times you allow yourself to enter the trade, maybe only four or five times a year.</p><p>Before trading, wait and wait patiently until as many factors as possible are in your favor before trading.</p><p>Patience can make you money. It is dangerous not to predict or estimate when and in what direction the market will go.</p><p>You have to wait for a breakout in the market or stock. Don't estimate, wait for the market to confirm, and don't argue with the quotation. Cash was, is, and always will be king.</p><p>In fact, it is often those who hold money and wait and wait until the right time to trade that can make a lot of money. Patience and patience are the key to success. If a shrewd speculator grasps this, time is his best friend.</p><p>Seize the right moment to enter the market. Time is not money because sometimes, even though you enter the market early, you can't make money-time is time, and money is money. Funds have to wait until the right time to enter the market to make money-patience, patience, and patience are the keys to success.</p><p>Don't predict and don't act without the confirmation of the market. There were many times when I, like many other speculators, didn't have the patience to wait for what was bound to happen.</p><p>I am human and I am subservient to human weaknesses. Like all speculators, I have lost patience, lost correct judgment, and reversed their positions-full of hope when I should be afraid; Feeling scared when it should be hopeful.</p><p>Real trends don't end the day they start, and a real trend takes time. Remember that stocks are never too high, too high for you to start buying or too low for you to start selling. But after the first transaction, don't make the second transaction unless there is a profit in the first transaction. Wait and watch. This is when your solving skills come into play, allowing you to decide the right time to start.</p><p>The success of many things depends on whether they start at the exactly right time. It took me years to learn the importance of this.</p><p><b>Point 3: Win success by hard research and clear thinking</b></p><p>Correct is correct, wrong is wrong, only do the right thing, don't add mistakes to mistakes.</p><p>A talented speculator once told me: When I see a red flag, I don't argue with it. I'm dodging! In a few days, if everything looks good, I'll come back again. Here's what I thought, if I was walking along the tracks and saw a train coming at me at 60 miles per hour, I would jump off the tracks and let the train pass by without stupidly standing there still. After it passed, I could always get back on the tracks if I wanted.</p><p>These words vividly show a kind of speculative wisdom that I will never forget.</p><p>Oddly enough, what most speculators are in trouble with is something within themselves that makes them not brave enough to close their positions when they should.</p><p>They hesitate, and in their hesitation, they watch the market move many points against them.</p><p>Obviously, what should be done is to be bullish in the long market and bearish in the short market. It sounds funny, but I have to know this general principle deeply before I can put it into practice. It took me a long time to learn to trade according to these principles.</p><p>Solving the market is an important part of this game. It is also important to start at the right time, and it is just as important to stick to your position. But, my biggest discovery is that one must study and evaluate the overall condition in order to predict future possibilities.</p><p>I no longer gamble blindly, no longer care about how to master operational skills, but care about winning my own success by hard research and clear thinking.</p><p>I also find that no one is immune to the danger of committing stupid operations. If a person operates stupidity, he will pay the price for stupidity.</p><p><b>Point 4: Don't compete with the market</b></p><p>The market accommodates and digests everything, it is always correct, and it is wisest to conform to the market.</p><p>My theory is that there is always an irresistible force behind these major trends. Knowing that is enough. Being too curious about all the reasons behind the price movement is not a good thing.</p><p>As long as you recognize where the trend is appearing, and ride your speculative boat along the trend, you can benefit from it without arguing with the market, and most importantly, don't compete with the market.</p><p>The masses should always keep in mind the elements of stock trading. When a stock rises, there is no need to spend time explaining why it is rising. Continued buying will keep the stock price rising. As long as the stock price continues to rise and occasionally there is a natural small retracement, it is generally a quite safe way to follow the rising trend.</p><p>However, if the stock price gradually begins to fall after a long period of steady rise, and only rebounds occasionally, it is obvious that the route of least resistance has changed from upward to downward. This is the case, so why look for an explanation?</p><p>There may well be good reasons for the stock price to fall, however, these reasons are only known to a few people. They either kept the reason secret, or instead told the public that the stock was cheap. This is the essence of this game. The public should know that the few people who know the inside story won't tell the truth.</p><p>The simple fact is that the market always changes first, and then there is economic news, and the market does not react to economic news. The market is alive, and it reflects the future.</p><p>Greed, like fear, distorts reason. The stock market only talks about facts, reality and rationality. The stock market can never be wrong, and it is the traders who are wrong.</p><p><b>Point 5: There is only one side of the stock market, the fact side</b></p><p>Loss is the cost of trading. Failure is not terrible. What is terrible is not learning enough lessons from failure.</p><p>No matter how experienced a trader is, there is always the possibility that he will make a mistake and make a losing trade. Because speculation can't be 100% safe. The so-called experience means that there are many lessons, which are profound, heartbreaking and embarrassing. It doesn't hurt, can't remember, doesn't hurt, can't reflect. And that's what it is. It's normal for a person to make mistakes, but if he can't learn from them, it's really wronged.</p><p>Nothing in the world can teach you what you shouldn't do better than losing everything. When you know what not to do to not lose money, you start learning what to do to win money.</p><p>If someone told me that my method wouldn't work, I would try it thoroughly anyway, so that I could be sure of it. Because when I am wrong, there is only one thing-losing money-that can convince me that I am wrong.</p><p>I know that one day I will find the wrong place and not make it again. I am only right when I make money. This is speculation.</p><p>It takes a long time for a man to learn all his lessons from all his mistakes. Some people say that everything has two sides, but the stock market has only one side: not the long side or the short side, but the fact side.</p><p>It takes far more time to get this general rule deeply imprinted in my mind than most of the more technical things in the stock speculation game.</p><p>Losing money is the last thing that bothers me. After I admit it, the loss never bothers me, and the next day I forget about it. But mistakes-failure to admit losses-are things that hurt pockets and hearts.</p><p>If a man doesn't make a mistake, he will have the whole world in a month. However, if he can't get benefit from his mistakes, he can never have anything good.</p><p><b>Point 6: Unable to control your emotions is the biggest enemy of speculators</b></p><p>Trading is the confrontation between reason and emotion, and trading requires rational planning.</p><p>I learned a long time ago that the stock market is never uneventful. It is designed to fool most people, most of the time.</p><p>There are two main emotions in the stock market, hope and fear-hope is often born of greed, while fear is often born of ignorance.</p><p>I believe that being unable to control one's emotions is the real sworn enemy of speculators. Fear and greed are always there, and they are hidden in our hearts. They are waiting outside the market to jump into the market to perform, waiting for the opportunity to make a fortune.</p><p>Hope is vital to human survival, but it is the same as its cousins in the stock market-ignorance, greed, fear and twisted sanity. Hope covers up the facts and the stock market only recognizes the facts. The result is objective and final, and like nature, it will not change.</p><p>The main enemy of the speculator always appears from within. Humanity is inseparable from hope and fear. When speculating, if the market deviates from you, you hope that every day is the last day-and if you don't follow the hope, you will lose more than you should-strongly enough to rival the founding heroes and pioneers of all sizes.</p><p>When the market goes as you want, you are afraid that tomorrow will take all your profits away, so you quit-too quickly. Fear keeps you from making as much money as you should.</p><p>Successful traders must overcome these two deep-rooted instincts. He had to change what you might call a natural impulse. When he holds hope, he should be afraid, and when he is afraid, he should hope. He must be afraid that his losses may turn into even greater losses and hope that his profits may turn into even greater profits. It is absolutely wrong to gamble on stocks as ordinary people do.</p><p>Remember, if an investor doesn't have self-discipline, a clear strategy and a simple and easy plan, he will fall into the trap of emotions. Because a speculator without a plan is like a general without a strategy, and therefore without a feasible battle plan.</p><p><b>Point 7: Never let losses exceed 10% of your capital</b></p><p>Take control of your trades and manage your funds.</p><p>Unless you know that the transaction you are going to make is financially safe, never make any transaction.</p><p>The dilemma faced by inexperienced speculators is often paying too much for each position. Why is it? Because everyone wants to trade. Paying too much for each transaction is inhuman. People want to buy at the low price and sell at the high price. Be calm, don't argue with facts, don't keep hope when there is no hope, don't argue with the quotation machine, because the quotation machine is always correct-there is no position of hope, no position of guess, no position of fear in speculation, no position of greed, no position of emotion.</p><p>Finally, speculators should buy stocks in several times, and only buy a certain percentage each time.</p><p>If I buy a stock I like in a situation and it doesn't perform as I hope, for me that's enough evidence to sell the stock.</p><p>I put forward my 10% rule-if I lose more than 10% on a trade, I throw it right away.</p><p>I threw it instinctively. In fact, this is not instinct but subconscious mind accumulated over the years of fighting in the stock market. You must obey your own rules-don't deceive yourself, don't delay, don't wait! My basic principle is to never allow losses to exceed 10% of capital.</p><p><b>Point 8: Make big money amid big fluctuations</b></p><p>The biggest enemy of investors is not the market or anything else, but the investors themselves. Big fluctuations can make you a lot of money.</p><p>Let me say one thing here: After all these years on Wall Street, making millions of dollars and losing millions of dollars, I want to tell you this: My ideas have never made me big money, but I always insist on making me big money. Got it? I'm the one who holds on!</p><p>It is not surprising that the market judgment is correct. In a long market, you will always find many people who are long from the beginning, and in a short market, you will also find many people who are short from the beginning.</p><p>People who can judge correctly and persist at the same time are rare, and I find this to be the hardest thing to learn. But a stock operator can only make a lot of money after he really understands this. This is so true. It is easier for an operator to make millions of dollars when he knows how to operate it than he wants to make hundreds of dollars when he knows nothing.</p><p>The reason is that a person may see clearly and definitely, but when the market takes its time and is ready to go in the direction he thinks it will go, he becomes impatient or suspicious.</p><p>There are so many people on Wall Street who don't belong to the fool class at all or even the third-level fools, but they all lose money. This is the reason.</p><p>The market didn't beat them, they beat themselves. Because although they have brains, they can't hold on.</p><p>I began to understand that to make big money, you must make it in big fluctuations. No matter what factors may be driving the start of big fluctuations, as long as the facts are there, big fluctuations can continue. This is not the result of the hype of insider groups or the skills of financiers, but depends on the basic situation.</p><p>Ignoring the big fluctuations and trying to rush in and out is a fatal problem for me. No one can catch all the ups and downs. In a long market, your approach is to buy and hold tight until you believe that the long market is coming to an end.</p><p>To do so, you have to study the overall general trend, not the clear brands or special factors affecting individual stocks, and then you have to forget all your stocks, forever!</p><p>One of the most helpful things anyone can learn is to give up trying to catch the last or first gear.</p><p>These two gears are the most expensive things in the world. Together, these two gears cost stockholders millions of dollars, enough to build a cement road across the American continent.</p><p>One can't get very far in this game if one doesn't have confidence in one's judgment. That's probably everything I've learned-study the overall situation, take positions, and stick to it.</p><p><b>Point 9: The person who solves the stock market, the biggest mystery of mankind, should win the jackpot</b></p><p>Speculation is a game, but also your own business, which requires continuous efforts, dedication and summary.</p><p>Stock trading is actually playing a game, and you must win in this game. Good stock traders can't help but be like well-trained professional athletes. They must develop good living habits and maintain abundant physical strength.</p><p>It's not money that drives me either. It is a game, a game of solving mysteries, a game of messing up and complicating the greatest minds in human history.</p><p>For me, passion, challenge and excitement are all in winning this game. This game is a vibrant riddle, and the answer to this riddle is for me to tell all the men and women who speculate on Wall Street.</p><p>In the game, your nerves are pushed to the limit, but the rewards are also very high. My career is trading-that is, following the facts in front of me, not what I think others should do.</p><p>Let me give you a heads up: Your success will be directly proportional to the sincerity and loyalty you show in your own endeavors. This effort includes insisting on keeping your own market records, thinking and drawing your own conclusions.</p><p>If a person wants to live on this game, he must trust himself and his own judgment. No one can make a lot of money by being told what to do.</p><p>The stock market is the biggest and most complicated mystery invented by human beings, and whoever solves this mystery deserves the jackpot. It takes a long time for a man to learn all his lessons from all his mistakes.</p><p>Let's revisit it again: Some people say that everything has two sides, but the stock market has only one side, not the long side or the short side, but the fact side. It takes far more time to get this general rule deeply imprinted in my mind than most of the more technical things in the stock speculation game.</p><p>Finally, let us conclude with the words of Richard Smitten, a Wall Street observer: \"Thank you, Jesse Livermore, for your wisdom, for your hard work, and for your extraordinary understanding.\"</p><p></body></html></p>","source":"lsy1645511055786","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Revisit the classic of Livermore, the king of speculation: revealing the secrets of trading!</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRevisit the classic of Livermore, the king of speculation: revealing the secrets of trading!\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">期乐会</strong><span class=\"h-time small\">2022-12-06 22:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Some people say that everything has two sides, but there is only one side of the stock market, not the long side or the short side, but the fact side. It takes far more time to get this general rule deeply imprinted in my mind than most of the more technical things in the stock speculation game.</p><p>Today, I would like to share with you some key points of investment philosophy from Livermore, the king of Wall Street speculation. It is beneficial to open the book. I wish you all something!</p><p><b>Point 1: Wall Street will not change, human nature will not change</b></p><p>The market is regular, and the regularity of the market is due to the constant human nature.</p><p>One of the lessons I learned early in the stock market is that there is nothing new on Wall Street, because speculation is as old as mountains. What happened to the stock market today has happened before and will happen again. I guess what I really can't remember is when and how. The fact that I remember in this way, is the way I use experience.</p><p>Wall Street never changes, because human nature never changes.</p><p>I believe that being unable to control one's emotions is the real sworn enemy of speculators. Fear and greed are always there, and they are hidden in our hearts. They are waiting outside the market to jump into the market to perform, waiting for the opportunity to make a fortune; No matter at any time, fundamentally because of greed and fear, ignorance and hope, people always repeat their actions in the same way-which is why those figures and trends formed by numbers always repeat themselves.</p><p><img src=\"https://static.tigerbbs.com/8dfda976f6f6063e48351d7a18d95c47\" tg-width=\"335\" tg-height=\"236\" referrerpolicy=\"no-referrer\"/></p><p><b>Point 2: Making big money depends on patient \"waiting\"</b></p><p>Wait patiently for the truly perfect trend of the market, and don't make predictive interventions; Timing is everything, buy at the right time and sell at the right time.</p><p>Trading is not something to do every day. People who think they have to trade at any time ignore a condition, that is, trading requires reasons, and it is an objective and appropriate reason.</p><p>In addition to trying to decide how to make money, traders must try to avoid losing money. Knowing what should be done is almost as important as knowing what should not be done.</p><p>Stock operators have to fight against many costly enemies in their hearts. Making big money depends on waiting, not thinking; Be sure to wait until the time when all factors are in your favor.</p><p>The reason why it is so difficult to predict the market is because of human nature. Harnessing and conquering human nature is the most difficult task. It is very important to choose the timing carefully. Once you act too hastily, there will be a price to pay.</p><p>My loss was entirely caused by my lack of patience, and I didn't patiently wait for the right moment to support the opinions and plans that had been formed in advance. After 15 years of not understanding, there are things that allowed me to wait for two weeks to see the stock I am very optimistic about rise by 30 points before I feel safe to buy.</p><p>This requires patience, waiting for the right key point to appear, waiting for the right trading opportunity. Patience, patience, patience again, this is his secret to seizing the opportunity and succeeding. He often said, \"What makes money is not ideas, but waiting\".</p><p>All a person needs to do, is watch what the market is telling him and react to it. The answer lies in the market itself, and the challenge comes from making a correct interpretation of the facts presented.</p><p>\"Timing is everything\". Before entering a trade, the most important thing is to determine whether the minimum resistance line is in the same direction as your trade.</p><p>My experience is that if I don't enter the market near the beginning of a trend, I absolutely won't make much profit from that trend. The reason is, I missed out on the profit reserve.</p><p>With this kind of courage and patience, he can wait and watch the changes in the market, and he can hold shares in the face of small falls or rebounds that will inevitably continue to occur before the end of this market.</p><p>The market will signal you in time when to enter the market. It is also certain that the market will signal you to exit in time-if you wait patiently.</p><p>\"Rome wasn't built in a day\", and really big trends don't end in a day or a week. It takes time for it to go through its own logical process.</p><p>In many cases, Livermore is holding the currency and waiting and watching until the right market appears. Many of his successes lie in his ability to wait and see and wait patiently until the right market appears in front of him.</p><p>When the market appears and there are many opportunities in his favor, at this time, and only at this time, he darts out like a cobra.</p><p>One of the key points of my later trading theory was: only trade on key points. As long as I have patience and trade on key points, I can always make money. I also think that the largest part of a stock's market tends to occur in the last two weeks or longer of this market.</p><p>But remember, when using key points to predict the market, if the stock doesn't behave as it should after crossing the key point, it is an important red flag that needs immediate attention. As long as I lose patience and don't wait until the key point appears, but make money as easily, I will definitely lose money.</p><p>In addition, it should be noted that at the end of a market, the trading volume increases significantly, which is often a real distribution. Because stocks have been transferred from strong hands to weak hands, from professional traders to ordinary investors.</p><p>The average investor believes that the sharp increase in trading volume is a signal of an active and healthy market after a normal adjustment-either to the highest price or to the lowest price-but this view is unfounded.</p><p>I want to make it clear to those who are willing to regard speculation as a serious business, and I wish to solemnly reiterate that wishful thinking must be eliminated; Those who expect to speculate every day or every week will not succeed; The number of times you allow yourself to enter the trade, maybe only four or five times a year.</p><p>Before trading, wait and wait patiently until as many factors as possible are in your favor before trading.</p><p>Patience can make you money. It is dangerous not to predict or estimate when and in what direction the market will go.</p><p>You have to wait for a breakout in the market or stock. Don't estimate, wait for the market to confirm, and don't argue with the quotation. Cash was, is, and always will be king.</p><p>In fact, it is often those who hold money and wait and wait until the right time to trade that can make a lot of money. Patience and patience are the key to success. If a shrewd speculator grasps this, time is his best friend.</p><p>Seize the right moment to enter the market. Time is not money because sometimes, even though you enter the market early, you can't make money-time is time, and money is money. Funds have to wait until the right time to enter the market to make money-patience, patience, and patience are the keys to success.</p><p>Don't predict and don't act without the confirmation of the market. There were many times when I, like many other speculators, didn't have the patience to wait for what was bound to happen.</p><p>I am human and I am subservient to human weaknesses. Like all speculators, I have lost patience, lost correct judgment, and reversed their positions-full of hope when I should be afraid; Feeling scared when it should be hopeful.</p><p>Real trends don't end the day they start, and a real trend takes time. Remember that stocks are never too high, too high for you to start buying or too low for you to start selling. But after the first transaction, don't make the second transaction unless there is a profit in the first transaction. Wait and watch. This is when your solving skills come into play, allowing you to decide the right time to start.</p><p>The success of many things depends on whether they start at the exactly right time. It took me years to learn the importance of this.</p><p><b>Point 3: Win success by hard research and clear thinking</b></p><p>Correct is correct, wrong is wrong, only do the right thing, don't add mistakes to mistakes.</p><p>A talented speculator once told me: When I see a red flag, I don't argue with it. I'm dodging! In a few days, if everything looks good, I'll come back again. Here's what I thought, if I was walking along the tracks and saw a train coming at me at 60 miles per hour, I would jump off the tracks and let the train pass by without stupidly standing there still. After it passed, I could always get back on the tracks if I wanted.</p><p>These words vividly show a kind of speculative wisdom that I will never forget.</p><p>Oddly enough, what most speculators are in trouble with is something within themselves that makes them not brave enough to close their positions when they should.</p><p>They hesitate, and in their hesitation, they watch the market move many points against them.</p><p>Obviously, what should be done is to be bullish in the long market and bearish in the short market. It sounds funny, but I have to know this general principle deeply before I can put it into practice. It took me a long time to learn to trade according to these principles.</p><p>Solving the market is an important part of this game. It is also important to start at the right time, and it is just as important to stick to your position. But, my biggest discovery is that one must study and evaluate the overall condition in order to predict future possibilities.</p><p>I no longer gamble blindly, no longer care about how to master operational skills, but care about winning my own success by hard research and clear thinking.</p><p>I also find that no one is immune to the danger of committing stupid operations. If a person operates stupidity, he will pay the price for stupidity.</p><p><b>Point 4: Don't compete with the market</b></p><p>The market accommodates and digests everything, it is always correct, and it is wisest to conform to the market.</p><p>My theory is that there is always an irresistible force behind these major trends. Knowing that is enough. Being too curious about all the reasons behind the price movement is not a good thing.</p><p>As long as you recognize where the trend is appearing, and ride your speculative boat along the trend, you can benefit from it without arguing with the market, and most importantly, don't compete with the market.</p><p>The masses should always keep in mind the elements of stock trading. When a stock rises, there is no need to spend time explaining why it is rising. Continued buying will keep the stock price rising. As long as the stock price continues to rise and occasionally there is a natural small retracement, it is generally a quite safe way to follow the rising trend.</p><p>However, if the stock price gradually begins to fall after a long period of steady rise, and only rebounds occasionally, it is obvious that the route of least resistance has changed from upward to downward. This is the case, so why look for an explanation?</p><p>There may well be good reasons for the stock price to fall, however, these reasons are only known to a few people. They either kept the reason secret, or instead told the public that the stock was cheap. This is the essence of this game. The public should know that the few people who know the inside story won't tell the truth.</p><p>The simple fact is that the market always changes first, and then there is economic news, and the market does not react to economic news. The market is alive, and it reflects the future.</p><p>Greed, like fear, distorts reason. The stock market only talks about facts, reality and rationality. The stock market can never be wrong, and it is the traders who are wrong.</p><p><b>Point 5: There is only one side of the stock market, the fact side</b></p><p>Loss is the cost of trading. Failure is not terrible. What is terrible is not learning enough lessons from failure.</p><p>No matter how experienced a trader is, there is always the possibility that he will make a mistake and make a losing trade. Because speculation can't be 100% safe. The so-called experience means that there are many lessons, which are profound, heartbreaking and embarrassing. It doesn't hurt, can't remember, doesn't hurt, can't reflect. And that's what it is. It's normal for a person to make mistakes, but if he can't learn from them, it's really wronged.</p><p>Nothing in the world can teach you what you shouldn't do better than losing everything. When you know what not to do to not lose money, you start learning what to do to win money.</p><p>If someone told me that my method wouldn't work, I would try it thoroughly anyway, so that I could be sure of it. Because when I am wrong, there is only one thing-losing money-that can convince me that I am wrong.</p><p>I know that one day I will find the wrong place and not make it again. I am only right when I make money. This is speculation.</p><p>It takes a long time for a man to learn all his lessons from all his mistakes. Some people say that everything has two sides, but the stock market has only one side: not the long side or the short side, but the fact side.</p><p>It takes far more time to get this general rule deeply imprinted in my mind than most of the more technical things in the stock speculation game.</p><p>Losing money is the last thing that bothers me. After I admit it, the loss never bothers me, and the next day I forget about it. But mistakes-failure to admit losses-are things that hurt pockets and hearts.</p><p>If a man doesn't make a mistake, he will have the whole world in a month. However, if he can't get benefit from his mistakes, he can never have anything good.</p><p><b>Point 6: Unable to control your emotions is the biggest enemy of speculators</b></p><p>Trading is the confrontation between reason and emotion, and trading requires rational planning.</p><p>I learned a long time ago that the stock market is never uneventful. It is designed to fool most people, most of the time.</p><p>There are two main emotions in the stock market, hope and fear-hope is often born of greed, while fear is often born of ignorance.</p><p>I believe that being unable to control one's emotions is the real sworn enemy of speculators. Fear and greed are always there, and they are hidden in our hearts. They are waiting outside the market to jump into the market to perform, waiting for the opportunity to make a fortune.</p><p>Hope is vital to human survival, but it is the same as its cousins in the stock market-ignorance, greed, fear and twisted sanity. Hope covers up the facts and the stock market only recognizes the facts. The result is objective and final, and like nature, it will not change.</p><p>The main enemy of the speculator always appears from within. Humanity is inseparable from hope and fear. When speculating, if the market deviates from you, you hope that every day is the last day-and if you don't follow the hope, you will lose more than you should-strongly enough to rival the founding heroes and pioneers of all sizes.</p><p>When the market goes as you want, you are afraid that tomorrow will take all your profits away, so you quit-too quickly. Fear keeps you from making as much money as you should.</p><p>Successful traders must overcome these two deep-rooted instincts. He had to change what you might call a natural impulse. When he holds hope, he should be afraid, and when he is afraid, he should hope. He must be afraid that his losses may turn into even greater losses and hope that his profits may turn into even greater profits. It is absolutely wrong to gamble on stocks as ordinary people do.</p><p>Remember, if an investor doesn't have self-discipline, a clear strategy and a simple and easy plan, he will fall into the trap of emotions. Because a speculator without a plan is like a general without a strategy, and therefore without a feasible battle plan.</p><p><b>Point 7: Never let losses exceed 10% of your capital</b></p><p>Take control of your trades and manage your funds.</p><p>Unless you know that the transaction you are going to make is financially safe, never make any transaction.</p><p>The dilemma faced by inexperienced speculators is often paying too much for each position. Why is it? Because everyone wants to trade. Paying too much for each transaction is inhuman. People want to buy at the low price and sell at the high price. Be calm, don't argue with facts, don't keep hope when there is no hope, don't argue with the quotation machine, because the quotation machine is always correct-there is no position of hope, no position of guess, no position of fear in speculation, no position of greed, no position of emotion.</p><p>Finally, speculators should buy stocks in several times, and only buy a certain percentage each time.</p><p>If I buy a stock I like in a situation and it doesn't perform as I hope, for me that's enough evidence to sell the stock.</p><p>I put forward my 10% rule-if I lose more than 10% on a trade, I throw it right away.</p><p>I threw it instinctively. In fact, this is not instinct but subconscious mind accumulated over the years of fighting in the stock market. You must obey your own rules-don't deceive yourself, don't delay, don't wait! My basic principle is to never allow losses to exceed 10% of capital.</p><p><b>Point 8: Make big money amid big fluctuations</b></p><p>The biggest enemy of investors is not the market or anything else, but the investors themselves. Big fluctuations can make you a lot of money.</p><p>Let me say one thing here: After all these years on Wall Street, making millions of dollars and losing millions of dollars, I want to tell you this: My ideas have never made me big money, but I always insist on making me big money. Got it? I'm the one who holds on!</p><p>It is not surprising that the market judgment is correct. In a long market, you will always find many people who are long from the beginning, and in a short market, you will also find many people who are short from the beginning.</p><p>People who can judge correctly and persist at the same time are rare, and I find this to be the hardest thing to learn. But a stock operator can only make a lot of money after he really understands this. This is so true. It is easier for an operator to make millions of dollars when he knows how to operate it than he wants to make hundreds of dollars when he knows nothing.</p><p>The reason is that a person may see clearly and definitely, but when the market takes its time and is ready to go in the direction he thinks it will go, he becomes impatient or suspicious.</p><p>There are so many people on Wall Street who don't belong to the fool class at all or even the third-level fools, but they all lose money. This is the reason.</p><p>The market didn't beat them, they beat themselves. Because although they have brains, they can't hold on.</p><p>I began to understand that to make big money, you must make it in big fluctuations. No matter what factors may be driving the start of big fluctuations, as long as the facts are there, big fluctuations can continue. This is not the result of the hype of insider groups or the skills of financiers, but depends on the basic situation.</p><p>Ignoring the big fluctuations and trying to rush in and out is a fatal problem for me. No one can catch all the ups and downs. In a long market, your approach is to buy and hold tight until you believe that the long market is coming to an end.</p><p>To do so, you have to study the overall general trend, not the clear brands or special factors affecting individual stocks, and then you have to forget all your stocks, forever!</p><p>One of the most helpful things anyone can learn is to give up trying to catch the last or first gear.</p><p>These two gears are the most expensive things in the world. Together, these two gears cost stockholders millions of dollars, enough to build a cement road across the American continent.</p><p>One can't get very far in this game if one doesn't have confidence in one's judgment. That's probably everything I've learned-study the overall situation, take positions, and stick to it.</p><p><b>Point 9: The person who solves the stock market, the biggest mystery of mankind, should win the jackpot</b></p><p>Speculation is a game, but also your own business, which requires continuous efforts, dedication and summary.</p><p>Stock trading is actually playing a game, and you must win in this game. Good stock traders can't help but be like well-trained professional athletes. They must develop good living habits and maintain abundant physical strength.</p><p>It's not money that drives me either. It is a game, a game of solving mysteries, a game of messing up and complicating the greatest minds in human history.</p><p>For me, passion, challenge and excitement are all in winning this game. This game is a vibrant riddle, and the answer to this riddle is for me to tell all the men and women who speculate on Wall Street.</p><p>In the game, your nerves are pushed to the limit, but the rewards are also very high. My career is trading-that is, following the facts in front of me, not what I think others should do.</p><p>Let me give you a heads up: Your success will be directly proportional to the sincerity and loyalty you show in your own endeavors. This effort includes insisting on keeping your own market records, thinking and drawing your own conclusions.</p><p>If a person wants to live on this game, he must trust himself and his own judgment. No one can make a lot of money by being told what to do.</p><p>The stock market is the biggest and most complicated mystery invented by human beings, and whoever solves this mystery deserves the jackpot. It takes a long time for a man to learn all his lessons from all his mistakes.</p><p>Let's revisit it again: Some people say that everything has two sides, but the stock market has only one side, not the long side or the short side, but the fact side. It takes far more time to get this general rule deeply imprinted in my mind than most of the more technical things in the stock speculation game.</p><p>Finally, let us conclude with the words of Richard Smitten, a Wall Street observer: \"Thank you, Jesse Livermore, for your wisdom, for your hard work, and for your extraordinary understanding.\"</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://mp.weixin.qq.com/s/rTBUIUZK6Ww9n6pAg0kpPA\">期乐会</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3b95528fdc6a3c8b5fe288dfa493f854","relate_stocks":{},"source_url":"https://mp.weixin.qq.com/s/rTBUIUZK6Ww9n6pAg0kpPA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168304633","content_text":"有人说凡事都有两面，但是股市只有一面，不是多头的一面或空头的一面，而是事实的一面。让这条通则深深印在我的脑海里，所花费的时间，远远超过股票投机游戏中大多数比较技术层次的东西。今天，与大家分享来自华尔街投机之王利弗莫尔的几条投资理念要点，开卷有益，祝大家能有所收获哦！要点一：华尔街不会改变，人性不会改变市场是有规律的，市场的规律性缘因于不变的人性。我很早在股市中学到的一个教训，就是华尔街没有新事物，因为投机就像山岳那么古老。股市今天发生的事以前发生过，以后会再度发生。我想我真正没法记住的就是何时和如何发生。我用这种方式记住的事实，就是我利用经验的方法。华尔街从来不会改变，因为人的本性是从来不会改变的。我认为，控制不住自己的情绪是投机者真正的死敌。恐惧和贪婪总是存在的，他们就藏在我们的心里。它们在市场外面等着跳进市场来表现，等着机会大赚一把；无论是在什么时候，从根本上说由于贪婪和恐惧、无知和希望，人们总是按照相同的方法重复自己的行为——这就是为什么那些数字构成的图形和趋势，总是一成不变地重复出现的原因。要点二：赚大钱要靠耐心“等待”耐心等待市场真正完美的趋势，不要做预测性介入；时机就是一切，要在恰当的时候买进，也要在恰当的时候卖出。交易不是每天要做的事情，那种认为随时都要交易的人，忽略了一个条件，就是交易是需要理由的，而且是客观的、适当的理由。除了设法决定如何赚钱之外，交易者必须设法避免亏钱。知道什么应该做，跟知道什么不应该做几乎一样重要。股票作手必须对抗内心中很多代价高昂的敌人。赚大钱要靠等待，而不是靠想；一定要等到所有因素都对你有利的时机。预测市场之所以如此困难，就是因为人的本性。驾驭和征服人的本性是最困难的任务。仔细地选择时机是非常重要的，一旦操之过急，是要付出代价的。我的损失完全是由于缺乏耐心造成的，没有耐心地等待恰当的时机，来支持事先已经形成的看法和计划。不懂得15年后，有些事情让我能够等待长长的两星期，看着我十分看好的股票上涨30点时，才觉得买进很安全。这要有耐心，等着恰当的关键点出现，等着恰当的交易时机。耐心、耐心、再耐心这就是他把握时机，获得成功的诀窍。他常常说：“赚钱的不是想法，而是静等”。一个人需要做的，只是观察市场正在告诉他什么，并对此做出反应。答案就在市场本身，挑战来自对呈现出来的事实做出正确的解释。“时机就是一切”。在进入交易之前，最重要的是确定最小阻力线是否和你的交易方向一致。我的经验是，如果我不是在接近某个趋势的开始点才进入市场，我就绝对不会从这个趋势中获取多少利润。原因是，我错失了利润储备。有了这种勇气和耐心，他就可以静观市场变化，就可以在这次行情结束前必定不断出现的小的回落或回升面前持股不动。市场会及时向你发出什么时候进入市场的信号。同样肯定的是，市场也会及时向你发出退场的信号—如果你耐心等待的话。“罗马不是一天建成的”，真正重大的趋势不会在一天或一个星期就结束。它走完自己的逻辑过程是需要时间的。在很多时候，利弗摩尔是持币观望，直到合适的行情出现。他的很多成功就在于他能够持币观望，耐心等待，直到恰当的行情出现在他的面前。当行情出现，有很多对他有利的机会出现时，在这个时候，也只有在这个时候，他才像眼镜蛇一样，“噌”地一声窜出去。我后来的交易理论的一个关键是：只在关键点上进行交易。只要我有耐心，在关键点上进行交易，我就总能赚到钱。我还认为，一只股票的行情的最大部分，往往发生在这一次行情的最后两个星期或更长一段时间。但要记住，在使用关键点预测行情的时候如果这只股票在越过关键点之后，没有像它应该表现的那样，那就是一个需要立即引起注意的、重要的危险信号。只要我失去耐心，没有等到关键点的出现，而是像轻而易举地赚到钱，我就肯定会赔钱。另外需要注意的是：在一次行情快结束的时候，成交量大幅度增加，往往是一次真正的分配。因为股票从强手转给了弱手从专业操盘手转到了普通股民。一般股民认为成交量大幅增加是正常调整之后——不是向最高价格调整就是向最低价格调整——而出现的活跃和健康市场的一个信号，但是这种看法是没有依据的。我要向愿意把投机看成一种严肃生意的那些人说清楚，而且我希望郑重重申的是一厢情愿的想法必须清除；指望每天或每星期都投机的人，不会获得成功；你允许你自己进入交易的次数，一年可能只有四五次。在交易之前，要等待，要耐心地等待，直到尽可能多的因素都对你有利的时候，再进行交易。耐心可以使你赚到钱。不要预测或估计市场将在什么时候朝什么方向发展，这是很危险的。你必须等待市场或股票出现突破。不要估计，要等着市场来证实，不要跟报价单争论。现金过去是，现在是，将来也永远是国王。事实上，往往是那些持币观望，等到恰当时机进行交易的人，才能赚到大钱。耐心耐心再耐心，才是成功的关键。如果一个精明的投机者把握好这一点的话，时间就是他最好的朋友。掌握恰当的时机进入市场。时间不是金钱因为有时候，尽管你早早进入了市场，却不能赚到钱——时间就是时间，而资金就是资金。资金要等到恰当的时候进入市场才能赚到钱——耐心、耐心、再耐心，是成功的关键。如果没有市场的证实，不要预测，也不要采取行动。有很多次我和其他许多投机者一样，没有耐心等待肯定要发生的事情。我是人，也屈从于人的弱点。和所有的投机者一样，我也没有了耐心，失去了正确的判断，颠倒了它们的位置——在该感到害怕的时候却充满希望；在该充满希望的时候却感到恐惧。真正的趋势不会在它们开始那天就结束而一次真正的趋势是需要时间的。请记住股票永远不会太高，高到让你不能开始买进也不会低到让你不能开始卖出。但是在第一笔交易后，除非第一笔出现利润，否则别做第二笔。要等待和观察。这就是你解盘能力发挥作用的时候，让你能够判定开始的正确时机。很多事情成功与否，要看是否在完全正确的时机开始。我花了很多年才了解这一点的重要性。要点三：靠努力研究和清楚的思考赢得成功正确就是正确，错误就是错误，只做正确的事情，不要错上加错。一位极具天才的投机家曾经告诉过我：当我看见一个危险信号的时候，我不跟它争执。我躲开！几天以后，如果一切看起来还不错，我就再回来。我是这么想的，如果我正沿着铁轨往前走，看见一辆火车以每小时60英里的速度向我冲来，我会跳下铁轨让火车开过去，而不会愚蠢地站在那里不动。它开过去之后，只要我愿意，我总能再回到铁轨上来。这番话非常形象地表现了一种投机智慧令我始终不忘。奇怪的是，大多数投机者遇到的麻烦的是他们自己内心中的一些东西，使他们没有足够的勇气在他们应该平仓的时候平仓。他们犹豫不决，他们在犹豫当中，眼睁睁地看着市场朝着对自己不利的方向变动了很多个点。显然应该要做的事是在多头市场看多，在空头市场中看空。听起来很好笑，但是我必须深深了解这个一般原则，才能够把这个原则付诸实施。我花了很长的时间，才学会根据这些原则交易。解盘在这种游戏中是重要的一部分，在正确的时候开始也很重要，坚持自己的仓位也一样重要。但是，我最大的发现是一个人必须研究和评估整体状况，以便预测未来的可能性。我不再盲目地赌博，不再关心如何精通操作技巧，而是关心靠着努力研究和清楚的思考，赢得自己的成功。我也发现没有一个人能够免于犯下愚蠢操作的危险。一个人操作愚蠢，就要为愚蠢付出代价。要点四：不要与市场争高低市场包容和消化一切，它永远都是正确的，顺应市场是最明智的。我的理论是：在这些重大的趋势背后，总有一股不可抗拒的力量。知道这一点就足够了。对价格运动背后的所有原因过于好奇，不是什么好事。只要认识到趋势在什么地方出现，顺着潮流驾驭你的投机之舟，就能从中得到好处而不要跟市场争论，最重要的是，不要跟市场争个高低。大众应该始终记住股票交易的要素。一只股票上涨时，不需要花精神去解释它为什么会上涨。持续的买进，会让股价继续上涨。只要股价持续上涨，偶尔出现自然的小幅回档，跟着涨势走，大致都是相当安全的办法。但是，如果股价经过长期的稳定上升后逐渐转为开始下跌，只偶尔反弹，显然阻力最小的路线已经从向上变成向下。情形就是这样，为什么要寻找解释呢？股价下跌很可能有很好的理由，但是，这些理由只有少数人知道。他们不是把理由秘而不宣，就是反而告诉大众说这只股票很便宜。这个游戏的本质就是这样，大众应该了解，少数知道内情的人不会说出真相。简单的事实是，行情总是先发生变化，然后才有经济新闻，市场不会对经济新闻作出反应。市场是活的，它反映的是将来。贪婪和恐惧一样，都会扭曲理性。股市只讲事实，只讲现实，只讲理性，股市永远不会错，错的是交易者。要点五：股市只有一面，事实的一面亏损是交易的成本，失败并不可怕，可怕的是没有从失败中得到足够的教训。不管交易者多么有经验，他犯错做出亏损交易的可能性总是存在的。因为投机不可能百分之百安全。所谓经验就是教训比较多，比较深刻，让人心痛，让人尴尬。不痛，记不住，不痛，不会反思。事情就是这样。一个人犯错很正常，但是如果他不能从错误中吸取教训，那就真冤了。世界上没有什么东西，比亏光一切更能教会你不该做什么。等你知道不该做什么才能不亏钱时，你就开始学习该做什么才能赢钱。要是有人告诉我，说我的方法行不通，我反正也会彻底试一试，好让自己确定这一点。因为我错误的时候，只有一件事情—就是亏钱——能够让我相信我错了。我知道，总有一天我会找到错误的地方而不再犯错。只有赚钱的时候，我才算是正确，这就是投机。一个人要花很长的时间，才能从他所有错误中学到所有的教训。有人说凡事都有两面，但是股市只有一面：不是多头的一面或空头的一面，而是事实的一面。让这条通则深深地印在我的脑海里，所花费的时间，远远超过股票投机游戏中大多数比较技术层次的东西。亏钱是最不会让我困扰的事情。我认亏之后，亏损从来不会困扰我，隔天我就忘掉了。但是错误——没有认亏——却是伤害口袋和心灵的东西。要是一个人不犯错的话，他会在一个月之内拥有全世界。但是，如果他不能从错误中得到好处，他就绝对不能拥有什么好东西。要点六：控制不住自己的情绪是投机者最大的死敌交易就是理性与情感的对抗，交易需要理性的计划。我很早以前就认识到，股市从来都不是平淡无奇的。它是为愚弄大多数人、大多数时间而设计的。股市上的两种主要的情绪，希望和恐惧—希望往往是因为贪婪而产生的，而恐惧往往是因为无知而产生的。我认为，控制不住自己的情绪是投机者真正的死敌。恐惧和贪婪总是存在的，他们就藏在我们的心里。它们在市场外面等等着跳进市场来表现，等着机会大赚一把。希望对于人类的生存是至关重要的，但希望与股市上的表亲——无知、贪婪、恐惧和扭曲的理智是一样的。希望掩盖了事实而股市只认事实。结果是客观的，是最终的，就像大自然一样，是不会改变的。投机客的主要敌人总是从内心出现。人性跟希望和恐惧无法分开。在投机时，如果市场背离你，你希望每天都是最后一天—而且你要是不遵从希望，你会损失的比应有程度还多——强烈到可以媲美大大小小的开国功臣和开疆拓土的豪杰。市场照你的意思走时，你害怕明天会把你所有的利润拿走，因此你退出——退得太快了。害怕使你赚不到应赚的那么多钱。成功的交易者必须克服这两个根深蒂固的本能。他必须改变你可以称之为天性冲动的东西。他抱着希望时其实应该要害怕而在害怕时，他应该要抱着希望。他必须害怕他的亏损可能变成更大的亏损，希望他的利润可能变成更大的利润。照一般人那样在股票上赌博，绝对是错误的。记住，如果一个投资者没有自律，没有一种明确策略，没有一个简单易行的计划就会陷入情绪的陷阱。因为没有一个计划的投机者就像是一个没有战略，因而也就没有可行的作战方案的将军。要点七：绝不让亏损超过资本的10％控制你的交易，管理你的资金。除非你知道你要进行的交易在财务上是安全的，否则，绝不要进行任何交易。没有经验的投机者面临的困境，往往是为每一笔头寸付出的太多。为什么呢？因为每个人都想交易。为每笔交易付出太多是不符合人性的。人们都想在最低价时买进而在最高价时卖出。心态要平和，不要与事实争辩，不要在没有希望的时候保有希望，不要与报价机争辩，因为报价机总是正确的——在投机中没有希望的位置，没有猜测的位置，没有恐惧的位置，没有贪婪的位置、没有情绪的位置。最后，投机者在买股票的时候应该分几次买，而且每次只买一定的比例。如果我在某种情况下买进一只我看好的股票但它没有按照我所希望的那样表现，对我来说这就是卖掉这只股票的足够证据。我提出了我的10％规则——如果我在一笔交易中的损失超过10％，我就马上抛出。我凭本能抛出。实际上这不是本能而是多年来在股市上拼杀积累起来的潜意识。你必须服从你自己定的规则——不能欺骗你自己，不要拖延，不要等待！我的基本原则是，绝不让亏损超过资本的10％。要点八：大波动中赚大钱投资者最大的敌人不是市场，不是别的其他，而是投资者自己。大波动才能让你挣大钱。这里让我说一件事情：在华尔街经历了这么多年，赚了几百万美元，又亏了几百万美元之后，我想告诉你这一点：我的想法从来都没有替我赚过大钱，总是我坚持不动替我赚大钱。懂了吗？是我坚持不动！对市场判断正确丝毫不足为奇。你在多头市场里，总会找到很多一开始就做多的人而在空头市场里，也会找到很多一开始就做空的人。能够同时判断正确又坚持不动的人是很罕见的，我发现这是最难学习的一件事。但是股票作手只有确实了解这一点之后，他才能够赚大钱。这一点千真万确。作手知道如何操作之后，要赚几百万美元，比他在一无所知时想赚几百美元还容易。原因在于一个人可能看得清楚而明确，却在市场从容不迫、准备照他认为一定会走的方向走时，他变得不耐烦或怀疑起来。华尔街有这么多根本不属于傻瓜阶级的人甚至不属于第三级傻瓜的人，却都会亏钱道理就在这里。市场并没有打败他们，他们打败了自己。因为他们虽然有头脑，却无法坚持不动。我开始了解，要赚大钱一定要在大波动中赚。不管推动大波动起步的因素可能是什么，只要事实俱在，大波动就能够持续下去。这不是内线集团炒作或金融家的技巧造成的结果，而是依靠基本形势。不理会大波动，设法抢进抢出，对我来说是致命大患。没有一个人能够抓住所有的起伏。在多头市场里，你的做法就是买进和紧抱，一直到你相信多头市场即将结束时为止。要这样做，你必须研究整个大势，而不是研究明牌或影响个股的特殊因素，然后你要忘掉你所有的股票，永远忘掉！任何人所能学到一个最有帮助的事情，就是放弃尝试抓住最后一档或第一档。这两档是世界上最昂贵的东西。总计起来这两档让股友耗费了千百万美元，多到足以建筑一条横贯美洲大陆的水泥公路。一个人如果对自己的判断没有信心，在这种游戏中就走不了多远。这些大概是我学到的一切—研究整体状况，承接仓位，并且坚持下去。要点九：解开股市这个人类最大谜团的人应该得头奖投机是一场游戏，更是你自己的事业，需要持续的努力、付出和总结。炒股实际上就是玩游戏，一定要在这场游戏中获胜。好的股票交易者不能不像训练有素的职业运动员一样，他们必须养成良好的生活习惯，保持充沛的体力。驱动我的也绝不是金钱。它是一场游戏是一场解开谜团的游戏，是一场把人类历史上最伟大的头脑搞乱、搞复杂的游戏。对我来说，激情、挑战、兴奋，都在打赢这场游戏之中了。这场游戏是一个充满活力的谜语，而这个谜底就是要由我来告诉在华尔街投机的所有男男女女的。在游戏中，你的神经被推到了极限，但奖赏也是非常高的。我的事业是交易——也就是遵循眼前的事实，而不是遵循我认为别人应当会做的事情。让我给你提个醒：你的成功将与你在自己的努力中所表现出来的真心和忠诚度成正比。这种努力包括坚持自己做行情记录并自己进行思考并得出自己的结论。一个人要是想靠这个游戏过活，必须相信自己和自己的判断。没有人能靠别人告诉他要怎么做赚大钱。股市是人类发明的最大的和最复杂的谜团而解开这个谜团的人是应该得头奖的。一个人要花很长的时间，才能从他所有错误中学到所有的教训。让我们再重温一遍：有人说凡事都有两面，但是股市只有一面，不是多头的一面或空头的一面，而是事实的一面。让这条通则深深印在我的脑海里，所花费的时间，远远超过股票投机游戏中大多数比较技术层次的东西。最后，让我们以华尔街观察家理查德斯密腾的话作为结束：“谢谢你， 杰西·利弗摩尔，感谢你的智慧，感谢你所做的艰苦工作，感谢你那非凡的悟性。”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2835,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965530897,"gmtCreate":1669978800619,"gmtModify":1676538282011,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965530897","repostId":"1125372710","repostType":2,"repost":{"id":"1125372710","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1669964538,"share":"https://ttm.financial/m/news/1125372710?lang=en_US&edition=fundamental","pubTime":"2022-12-02 15:02","market":"us","language":"zh","title":"Large option orders | Institutions manipulate ultra-short-term rights, and AMC cinema changes release a short squeeze signal?","url":"https://stock-news.laohu8.com/highlight/detail?id=1125372710","media":"老虎资讯综合","summary":"周四的美股期权合约总成交量为40,966,020份，较前一个交易日下跌了11%。","content":"<p><html><head></head><body><b>1. Market Overview (December 1)</b></p><p>On the first trading day of December, U.S. stocks were mixed, with the Nasdaq rising slightly and the Dow falling 190 points. Investors are assessing a range of economic data and awaiting Friday's November non-farm payrolls report. The core PCE index favored by the Federal Reserve in October indicated a decline in inflationary pressures, and the ISM manufacturing index contracted for the first time since May 2020 in November.</p><p><img src=\"https://static.tigerbbs.com/03e1415e73fd161b262198c1fa3b4bb9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>In the options market, total contract volume on Thursday was 40,966,020, down 11% from the previous trading day.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Options trading for its electric trucks was active ahead of the market. Bullish bets on AMC theaters surge. Options trading activities of Chinese concept stocks are still active.</p><p><b>2. Total option transaction volume TOP10</b></p><p><img src=\"https://static.tigerbbs.com/cdcfa5b1f5895be547530a35a7172e6e\" tg-width=\"431\" tg-height=\"820\" referrerpolicy=\"no-referrer\"/></p><p>The S&P Nasdaq ETF still ranks among the top two in options trading. This situation seems ordinary, but combined with the recent market situation, it has a different taste-<b>Some people believe that this is inseparable from the fact that professional institutional traders are conducting a large number of options intraday trading.</b></p><p>According to data vendor OptionMetrics,<b>At present, the intraday trading volume of options tracking the S&P 500 index has reached a record high. The average daily trading volume in November was about 1.5 million, more than twice the volume in January this year and four times the volume in early 2020.</b></p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Strategist Rocky Fishman said recently,<b>Ultra-short-term options have been \"the area with the strongest volume growth\". He estimates that intraday trading accounted for about 44% of S&P 500 options traded in the third and fourth quarters of this year.</b>At first Wall Street strategists thought that options day trading was mainly driven by individual investors, but according to<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>According to the research results, in the intraday trading of options against the S&P 500 index, personal accounts accounted for only 5.6%.</p><p>Options day trading can gain exposure from intraday volatility, where the option seller charges a premium and assumes price risk for a relatively short period of time.</p><p>The reason why intraday trading of options is linked to volatile market conditions is,<b>It is considered that market makers who sell options contracts will hedge their positions to avoid betting on the direction of the market, and sometimes this hedging will accelerate market changes.</b>For example, after market makers sell a large number of stock index call options and the S&P 500 index rises, then they can hedge by buying S&P 500 index futures. There is a view that index futures trading will in turn affect stock prices.</p><p><b>Some financial institutions try to \"weaponize\" this trading method and influence the market trend by \"amplifying and squeezing\" expectations.</b></p><p><b>3. Observation of changes</b></p><p><img src=\"https://static.tigerbbs.com/e2945068cb8671a5a30c6064583386da\" tg-width=\"437\" tg-height=\"837\" width=\"100%\" height=\"auto\"/></p><p>In terms of changes,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Option change orders topped the list.<b>Particularly noteworthy, though, are the new ones on the list<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>, but its shares soared 27% on Thursday, their biggest gain since May 12, and closed up 13%.</b></p><p>Thursday,<b>AMC Cinemas has traded three times the last 20-day average!</b>Volume was particularly high for CALL Option with a strike price of $8 expiring Dec. 2, with 80,218 contracts trading. In addition, apewisdom shows that AMC Cinemas has been mentioned 138 times on Reddit's WSB page in the past 24 hours, a surge of 626%, ranking third.</p><p><img src=\"https://static.tigerbbs.com/d6888b24b5a1fcafb3b5ef68d4d7f80d\" tg-width=\"1000\" tg-height=\"305\" referrerpolicy=\"no-referrer\"/></p><p>As the leading brother in the \"retail short squeeze\", is AMC cinema going to set off another storm?</p><p><img src=\"https://static.tigerbbs.com/70446820d7d21c8a8d24fa95bf1cd3c0\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Large option orders | Institutions manipulate ultra-short-term rights, and AMC cinema changes release a short squeeze signal?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLarge option orders | Institutions manipulate ultra-short-term rights, and AMC cinema changes release a short squeeze signal?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-12-02 15:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>1. Market Overview (December 1)</b></p><p>On the first trading day of December, U.S. stocks were mixed, with the Nasdaq rising slightly and the Dow falling 190 points. Investors are assessing a range of economic data and awaiting Friday's November non-farm payrolls report. The core PCE index favored by the Federal Reserve in October indicated a decline in inflationary pressures, and the ISM manufacturing index contracted for the first time since May 2020 in November.</p><p><img src=\"https://static.tigerbbs.com/03e1415e73fd161b262198c1fa3b4bb9\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>In the options market, total contract volume on Thursday was 40,966,020, down 11% from the previous trading day.<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>Options trading for its electric trucks was active ahead of the market. Bullish bets on AMC theaters surge. Options trading activities of Chinese concept stocks are still active.</p><p><b>2. Total option transaction volume TOP10</b></p><p><img src=\"https://static.tigerbbs.com/cdcfa5b1f5895be547530a35a7172e6e\" tg-width=\"431\" tg-height=\"820\" referrerpolicy=\"no-referrer\"/></p><p>The S&P Nasdaq ETF still ranks among the top two in options trading. This situation seems ordinary, but combined with the recent market situation, it has a different taste-<b>Some people believe that this is inseparable from the fact that professional institutional traders are conducting a large number of options intraday trading.</b></p><p>According to data vendor OptionMetrics,<b>At present, the intraday trading volume of options tracking the S&P 500 index has reached a record high. The average daily trading volume in November was about 1.5 million, more than twice the volume in January this year and four times the volume in early 2020.</b></p><p><a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>Strategist Rocky Fishman said recently,<b>Ultra-short-term options have been \"the area with the strongest volume growth\". He estimates that intraday trading accounted for about 44% of S&P 500 options traded in the third and fourth quarters of this year.</b>At first Wall Street strategists thought that options day trading was mainly driven by individual investors, but according to<a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>According to the research results, in the intraday trading of options against the S&P 500 index, personal accounts accounted for only 5.6%.</p><p>Options day trading can gain exposure from intraday volatility, where the option seller charges a premium and assumes price risk for a relatively short period of time.</p><p>The reason why intraday trading of options is linked to volatile market conditions is,<b>It is considered that market makers who sell options contracts will hedge their positions to avoid betting on the direction of the market, and sometimes this hedging will accelerate market changes.</b>For example, after market makers sell a large number of stock index call options and the S&P 500 index rises, then they can hedge by buying S&P 500 index futures. There is a view that index futures trading will in turn affect stock prices.</p><p><b>Some financial institutions try to \"weaponize\" this trading method and influence the market trend by \"amplifying and squeezing\" expectations.</b></p><p><b>3. Observation of changes</b></p><p><img src=\"https://static.tigerbbs.com/e2945068cb8671a5a30c6064583386da\" tg-width=\"437\" tg-height=\"837\" width=\"100%\" height=\"auto\"/></p><p>In terms of changes,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Option change orders topped the list.<b>Particularly noteworthy, though, are the new ones on the list<a href=\"https://laohu8.com/S/AMC\">AMC Cinemas</a>, but its shares soared 27% on Thursday, their biggest gain since May 12, and closed up 13%.</b></p><p>Thursday,<b>AMC Cinemas has traded three times the last 20-day average!</b>Volume was particularly high for CALL Option with a strike price of $8 expiring Dec. 2, with 80,218 contracts trading. In addition, apewisdom shows that AMC Cinemas has been mentioned 138 times on Reddit's WSB page in the past 24 hours, a surge of 626%, ranking third.</p><p><img src=\"https://static.tigerbbs.com/d6888b24b5a1fcafb3b5ef68d4d7f80d\" tg-width=\"1000\" tg-height=\"305\" referrerpolicy=\"no-referrer\"/></p><p>As the leading brother in the \"retail short squeeze\", is AMC cinema going to set off another storm?</p><p><img src=\"https://static.tigerbbs.com/70446820d7d21c8a8d24fa95bf1cd3c0\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/55eb327f580527889cf30bafa92692ae","relate_stocks":{"SPY":"标普500ETF","QQQ":"纳指100ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125372710","content_text":"一、市场概览 （12月1日）12月首个交易日，美股涨跌不一，纳指微涨，道指下跌190点。投资者正在评估一系列经济数据，并等待周五的11月非农就业报告。美联储青睐的10月核心PCE指数表明通胀压力下降，11月ISM制造业指数出现2020年5月份以来的首次萎缩。在期权市场方面，周四的合约总成交量为40,966,020份，较前一个交易日下跌了11%。特斯拉的期权交易在其电动卡车上市前非常活跃。对AMC院线的看涨押注激增。中概股的期权交易活动依然活跃。二、期权成交总量TOP10标普及纳指ETF的期权交易依然排在前两位。这种情况看似平常，但结合近期市场情况来分析，就有了不同的味道——有观点认为，这与专业机构交易员正进行大量期权日内交易有分不开的关系。根据数据供应商OptionMetrics，目前追踪标普500指数的期权日内交易成交量已经达到创纪录高位，11月的日均成交量约为150万笔，是今年1月份的两倍多，更是2020年初交易量的四倍之多。高盛策略师Rocky Fishman近日表示，超短期期权一直是“交易量增长最强劲的领域”。他估计，在今年第三和第四季度交易的标普500指数期权中，日内交易的占比达到约44%。起初华尔街策略师以为期权日内交易主要由个人投资者推动的，但按照摩根大通的研究结果，在针对标普500指数的期权日内交易中，个人账户的占比仅为5.6%。期权日内交易可以从盘中波动获得风险敞口，其中期权卖方收取溢价，并在相对较短的时间内承担价格风险。而之所以会将期权日内交易和波动行情联系在一起，是考虑到卖出期权合约的做市商会对冲头寸以避免押注市场走向，而有时这种对冲将会加速行情变化。比如在做市商大量出售股指看涨期权之后，标普500指数上涨，那么他们就可以通过购买标普500指数期货来进行对冲。对此有观点认为，指数期货交易会反过来影响股价。部分金融机构试图将这种交易方式“武器化”，以“放大和榨取”预期的方式来左右市场走势。三、异动观察异动方面，阿里巴巴期权异动单登上榜首。不过，特别值得注意的是新上榜的AMC院线，但其股价周四一度飙升27%，创下5月12日以来的最大涨幅，收盘上涨13%。周四，AMC院线的看涨期权交易量是过去20天平均水平的三倍！12月2日到期的行权价8美元的CALL Option成交量尤其高，有80,218份合约交易。此外，apewisdom显示，AMC院线在过去24小时内在Reddit的WSB页面被提及138次，暴增626%，排名第三。作为“散户逼空”中的带头大哥，AMC院线是不是又要掀起一场风暴？","news_type":1,"symbols_score_info":{"QQQ":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968860584,"gmtCreate":1669177185248,"gmtModify":1676538163166,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9968860584","repostId":"2285893756","repostType":4,"isVote":1,"tweetType":1,"viewCount":3673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9985943018,"gmtCreate":1667302930734,"gmtModify":1676537894351,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985943018","repostId":"2279138461","repostType":4,"isVote":1,"tweetType":1,"viewCount":2372,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9998395301,"gmtCreate":1660933738808,"gmtModify":1676536425443,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/OXY\">$西方石油(OXY)$</a>🚀🚀🚀🎁🎁🎁💤💰💰💰","listText":"<a href=\"https://ttm.financial/S/OXY\">$西方石油(OXY)$</a>🚀🚀🚀🎁🎁🎁💤💰💰💰","text":"$西方石油(OXY)$🚀🚀🚀🎁🎁🎁💤💰💰💰","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9998395301","isVote":1,"tweetType":1,"viewCount":2584,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9999954773,"gmtCreate":1660454100494,"gmtModify":1676533474384,"author":{"id":"3578208981838945","authorId":"3578208981838945","name":"211013能量飞车","avatar":"https://static.tigerbbs.com/e583c75322dd4651672938ebba8683b7","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578208981838945","authorIdStr":"3578208981838945"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9999954773","repostId":"1172206517","repostType":4,"repost":{"id":"1172206517","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1660349729,"share":"https://ttm.financial/m/news/1172206517?lang=en_US&edition=fundamental","pubTime":"2022-08-13 08:15","market":"us","language":"zh","title":"Last night and this morning | The S&P Nasdaq has risen for 4 consecutive weeks! The latest 13F position exposure","url":"https://stock-news.laohu8.com/highlight/detail?id=1172206517","media":"老虎资讯综合","summary":"美股收高，标普与纳指连续第四周上涨；美国国会众议院投票通过通胀削减法案；知名机构景林、文艺复兴Q2美股持仓曝光；5家中企宣布启动美股退市>>>海外市场收盘：美股周五收高，标普与纳指连续第四周上涨美股周","content":"<p><html><head></head><body>U.S. stocks closed higher, with the S&P and Nasdaq rising for the fourth consecutive week; The U.S. House of Representatives voted to pass the Inflation Reduction Act; Well-known institutions Jinglin and Renaissance Q2 US stock positions were exposed; 5 Chinese companies announced the launch of US stock delisting > > ><b>Overseas Market</b></p><p><b>Closing: U.S. stocks closed higher on Friday, with S&P and Nasdaq rising for fourth consecutive week</b></p><p>U.S. stocks closed higher on Friday, with all three major stock indexes recording gains this week. The Dow rose 424.38 points, or 1.27%, to 33761.05 points; The Nasdaq rose 267.27 points, or 2.09%, to 13047.19 points; The S&P 500 rose 72.88 points, or 1.73%, to 4,280.15 points. All three major U.S. stock indexes recorded gains this week, with the Dow rising 2.92%, the Nasdaq rising 3.08%, and the S&P 500 rising 3.26%. The Nasdaq and S&P 500 both recorded their fourth consecutive weekly gains.</p><p><b>Popular Chinese concept stocks closed mixed on Friday</b></p><p>Popular Chinese concept stocks were mixed,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up 1.39%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Up 0.92%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 0.70%,<a href=\"https://laohu8.com/S/TME\">Tencent Music</a>Up 0.23%,<a href=\"https://laohu8.com/S/JD\">JD.com</a>Up 0.19%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Down 0.11%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Down 0.67%,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Down 0.81%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Down 1.07%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>Down 1.65%.</p><p><b>U.S. WTI crude futures closed down 2.4% on Friday</b></p><p>The market expects the disruption of crude oil supply in the U.S. Gulf of Mexico to be short-term, while recession fears cloud the demand outlook. The price of West Texas Intermediate crude oil (WTI) futures for September delivery on the New York Mercantile Exchange closed down $2.25, or 2.4%, at $92.09 a barrel.</p><p><b>Gold futures closed 0.5% higher in New York on Friday, as gold prices recorded their fourth straight weekly gain this week</b></p><p>Gold futures prices closed higher on Friday in New York, shrugging off morning losses and recording their fourth straight weekly gains. Gold futures for December delivery on the New York Mercantile Exchange rose $8.3, or 0.46%, to close at $1,815.50 an ounce. Gold futures prices rose 1.36% this week, recording the fourth consecutive week of gains and setting a record for the longest winning streak since December 31, 2021.</p><p><b>International macro</b></p><p><a href=\"https://laohu8.com/NW/2259727570\" target=\"_blank\"><b>US House of Representatives votes to pass inflation reduction bill</b></a></p><p>The U.S. House of Representatives voted 220 in favor and 207 against to pass the Inflation Reduction Act of 2022. The contents of the bill include tackling climate change and expanding health care coverage. The next step of the bill will be signed by President Biden.</p><p><b>U.S. Senate Democrats: SEC should step up efforts to crack down on insider trading by corporate executives</b></p><p>On Friday local time, Warren and other Senate Democrats sent a letter to SEC Chairman Gary Gensler, saying that the SEC should act quickly to strengthen its rules and cannot allow corporate insiders to use inside information to conduct transactions without being punished. continues to happen.</p><p><a href=\"https://laohu8.com/NW/2259357721\" target=\"_blank\"><b>US media: Former US President Trump is suspected of violating the Espionage Act</b></a></p><p>According to court records released on August 12, local time, federal law enforcement agencies suspected that former President Trump violated the Espionage Act and other relevant laws, and therefore obtained a search warrant for his Mar-a-Lago, Fla.</p><p><b>Company News</b></p><p><a href=\"https://laohu8.com/NW/1119741216\" target=\"_blank\"><b>Jinglin Q2 US stock holdings: Keike rose to the largest holding Alibaba and Pinduoduo returned to the top ten holdings</b></a><b></b></p><p>On Friday morning, local time in the United States, Jinglin, a well-known private equity firm in China, disclosed its position report (Form 13F) as of June 30th. In the second quarter when the market fluctuated violently, the fund also launched an obvious position exchange operation. According to the company's disclosure, Jinglin's overall holdings at the end of the first quarter were US $2.244 billion, a slight decrease from the previous quarter, and the concentration of the top ten holdings remained at 78.18%.</p><p><a href=\"https://laohu8.com/NW/2259727587\" target=\"_blank\"><b>Renaissance more than tripled its position in Nio last quarter, reduced its holdings in Tesla</b></a></p><p>Renaissance increased its holdings of Nio Automobile ADR (increased by 229%),<a href=\"https://laohu8.com/S/CVX\">Chevron</a>、<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway Class B shares,<a href=\"https://laohu8.com/S/MPC\">Marathon Oil</a>Waiting for 1963 stocks. Reduce holdings in Tesla, AMD, Moderna,<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>Waiting for 1490 stocks. Awkward holdings include Microsoft, Meta,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>, Chevron. Build a position to go long Microsoft,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>、<a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a>、<a href=\"https://laohu8.com/S/C\">Citigroup</a>Wait for 706 stocks. Clearance Amazon,<a href=\"https://laohu8.com/S/GOOGL\">Google A</a>And Google C,<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>Pharmaceutical,<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>Wait for 567 stocks.</p><p><a href=\"https://laohu8.com/NW/2259150742\" target=\"_blank\"><b>Another U.S. retail giant is laying off staff! Best Buy cuts'hundreds' of jobs over the past week, report says</b></a></p><p>Best Buy, the nation's largest consumer electronics retailer, is cutting jobs across the U.S. to cut costs and boost profits, media reported Friday, citing people familiar with the matter. According to the report, Best Buy has laid off \"hundreds of jobs\" across the United States in the past week. The company reduced headcount at its retail stores, while also cutting positions for some employees who help customers plan and buy home entertainment layouts.</p><p><a href=\"https://laohu8.com/NW/2259747544\" target=\"_blank\"><b>Interactive fitness platform Peloton announces nearly 800 layoffs, closing a large number of stores and raising product prices</b></a></p><p>Peloton, the world's largest interactive fitness platform, told employees on Friday that it will cut about 780 jobs, close a large number of retail stores and raise the price of some equipment to reduce costs and become profitable. The company did not specify how many of the 86 retail stores it plans to close, but said it plans to \"aggressively\" reduce from 2023.</p><p><a href=\"https://laohu8.com/NW/2258719062\" target=\"_blank\"><b>Five Chinese companies announced the start of delisting from the United States. What does it mean? What are the implications?</b></a></p><p>In terms of Chinese concept stocks, five Chinese companies, PetroChina, Sinopec, China Life, Chinalco, and Shanghai Petrochemical, announced that they would delist their depositary shares from the New York Stock Exchange. In response, the new york Stock Exchange said it had \"no comment\" on this matter. As of Friday's close, PetroChina closed down 1.65%, Sinopec fell 1.8%, Chinalco fell 0.76%, China Life fell 1.46%, and Shanghai Petrochemical fell 1.06%.</p><p></body></html></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Last night and this morning | The S&P Nasdaq has risen for 4 consecutive weeks! The latest 13F position exposure</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLast night and this morning | The S&P Nasdaq has risen for 4 consecutive weeks! The latest 13F position exposure\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2022-08-13 08:15</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>U.S. stocks closed higher, with the S&P and Nasdaq rising for the fourth consecutive week; The U.S. House of Representatives voted to pass the Inflation Reduction Act; Well-known institutions Jinglin and Renaissance Q2 US stock positions were exposed; 5 Chinese companies announced the launch of US stock delisting > > ><b>Overseas Market</b></p><p><b>Closing: U.S. stocks closed higher on Friday, with S&P and Nasdaq rising for fourth consecutive week</b></p><p>U.S. stocks closed higher on Friday, with all three major stock indexes recording gains this week. The Dow rose 424.38 points, or 1.27%, to 33761.05 points; The Nasdaq rose 267.27 points, or 2.09%, to 13047.19 points; The S&P 500 rose 72.88 points, or 1.73%, to 4,280.15 points. All three major U.S. stock indexes recorded gains this week, with the Dow rising 2.92%, the Nasdaq rising 3.08%, and the S&P 500 rising 3.26%. The Nasdaq and S&P 500 both recorded their fourth consecutive weekly gains.</p><p><b>Popular Chinese concept stocks closed mixed on Friday</b></p><p>Popular Chinese concept stocks were mixed,<a href=\"https://laohu8.com/S/NIO\">Nio</a>Up 1.39%,<a href=\"https://laohu8.com/S/EDU\">New Oriental</a>Up 0.92%,<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>Up 0.70%,<a href=\"https://laohu8.com/S/TME\">Tencent Music</a>Up 0.23%,<a href=\"https://laohu8.com/S/JD\">JD.com</a>Up 0.19%,<a href=\"https://laohu8.com/S/BABA\">Alibaba</a>Down 0.11%,<a href=\"https://laohu8.com/S/LI\">Li Auto</a>Down 0.67%,<a href=\"https://laohu8.com/S/XPEV\">XPeng vehicles</a>Down 0.81%,<a href=\"https://laohu8.com/S/TAL\">TAL</a>Down 1.07%,<a href=\"https://laohu8.com/S/PDD\">Pinduoduo</a>Down 1.65%.</p><p><b>U.S. WTI crude futures closed down 2.4% on Friday</b></p><p>The market expects the disruption of crude oil supply in the U.S. Gulf of Mexico to be short-term, while recession fears cloud the demand outlook. The price of West Texas Intermediate crude oil (WTI) futures for September delivery on the New York Mercantile Exchange closed down $2.25, or 2.4%, at $92.09 a barrel.</p><p><b>Gold futures closed 0.5% higher in New York on Friday, as gold prices recorded their fourth straight weekly gain this week</b></p><p>Gold futures prices closed higher on Friday in New York, shrugging off morning losses and recording their fourth straight weekly gains. Gold futures for December delivery on the New York Mercantile Exchange rose $8.3, or 0.46%, to close at $1,815.50 an ounce. Gold futures prices rose 1.36% this week, recording the fourth consecutive week of gains and setting a record for the longest winning streak since December 31, 2021.</p><p><b>International macro</b></p><p><a href=\"https://laohu8.com/NW/2259727570\" target=\"_blank\"><b>US House of Representatives votes to pass inflation reduction bill</b></a></p><p>The U.S. House of Representatives voted 220 in favor and 207 against to pass the Inflation Reduction Act of 2022. The contents of the bill include tackling climate change and expanding health care coverage. The next step of the bill will be signed by President Biden.</p><p><b>U.S. Senate Democrats: SEC should step up efforts to crack down on insider trading by corporate executives</b></p><p>On Friday local time, Warren and other Senate Democrats sent a letter to SEC Chairman Gary Gensler, saying that the SEC should act quickly to strengthen its rules and cannot allow corporate insiders to use inside information to conduct transactions without being punished. continues to happen.</p><p><a href=\"https://laohu8.com/NW/2259357721\" target=\"_blank\"><b>US media: Former US President Trump is suspected of violating the Espionage Act</b></a></p><p>According to court records released on August 12, local time, federal law enforcement agencies suspected that former President Trump violated the Espionage Act and other relevant laws, and therefore obtained a search warrant for his Mar-a-Lago, Fla.</p><p><b>Company News</b></p><p><a href=\"https://laohu8.com/NW/1119741216\" target=\"_blank\"><b>Jinglin Q2 US stock holdings: Keike rose to the largest holding Alibaba and Pinduoduo returned to the top ten holdings</b></a><b></b></p><p>On Friday morning, local time in the United States, Jinglin, a well-known private equity firm in China, disclosed its position report (Form 13F) as of June 30th. In the second quarter when the market fluctuated violently, the fund also launched an obvious position exchange operation. According to the company's disclosure, Jinglin's overall holdings at the end of the first quarter were US $2.244 billion, a slight decrease from the previous quarter, and the concentration of the top ten holdings remained at 78.18%.</p><p><a href=\"https://laohu8.com/NW/2259727587\" target=\"_blank\"><b>Renaissance more than tripled its position in Nio last quarter, reduced its holdings in Tesla</b></a></p><p>Renaissance increased its holdings of Nio Automobile ADR (increased by 229%),<a href=\"https://laohu8.com/S/CVX\">Chevron</a>、<a href=\"https://laohu8.com/S/BRK.A\">Berkshire</a>Hathaway Class B shares,<a href=\"https://laohu8.com/S/MPC\">Marathon Oil</a>Waiting for 1963 stocks. Reduce holdings in Tesla, AMD, Moderna,<a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>Waiting for 1490 stocks. Awkward holdings include Microsoft, Meta,<a href=\"https://laohu8.com/S/AAPL\">Apple</a>, Chevron. Build a position to go long Microsoft,<a href=\"https://laohu8.com/S/GS\">Goldman Sachs</a>、<a href=\"https://laohu8.com/S/AMAT\">Applied Materials</a>、<a href=\"https://laohu8.com/S/C\">Citigroup</a>Wait for 706 stocks. Clearance Amazon,<a href=\"https://laohu8.com/S/GOOGL\">Google A</a>And Google C,<a href=\"https://laohu8.com/S/PFE\">Pfizer</a>Pharmaceutical,<a href=\"https://laohu8.com/S/QCOM\">Qualcomm</a>Wait for 567 stocks.</p><p><a href=\"https://laohu8.com/NW/2259150742\" target=\"_blank\"><b>Another U.S. retail giant is laying off staff! Best Buy cuts'hundreds' of jobs over the past week, report says</b></a></p><p>Best Buy, the nation's largest consumer electronics retailer, is cutting jobs across the U.S. to cut costs and boost profits, media reported Friday, citing people familiar with the matter. According to the report, Best Buy has laid off \"hundreds of jobs\" across the United States in the past week. The company reduced headcount at its retail stores, while also cutting positions for some employees who help customers plan and buy home entertainment layouts.</p><p><a href=\"https://laohu8.com/NW/2259747544\" target=\"_blank\"><b>Interactive fitness platform Peloton announces nearly 800 layoffs, closing a large number of stores and raising product prices</b></a></p><p>Peloton, the world's largest interactive fitness platform, told employees on Friday that it will cut about 780 jobs, close a large number of retail stores and raise the price of some equipment to reduce costs and become profitable. The company did not specify how many of the 86 retail stores it plans to close, but said it plans to \"aggressively\" reduce from 2023.</p><p><a href=\"https://laohu8.com/NW/2258719062\" target=\"_blank\"><b>Five Chinese companies announced the start of delisting from the United States. What does it mean? What are the implications?</b></a></p><p>In terms of Chinese concept stocks, five Chinese companies, PetroChina, Sinopec, China Life, Chinalco, and Shanghai Petrochemical, announced that they would delist their depositary shares from the New York Stock Exchange. In response, the new york Stock Exchange said it had \"no comment\" on this matter. As of Friday's close, PetroChina closed down 1.65%, Sinopec fell 1.8%, Chinalco fell 0.76%, China Life fell 1.46%, and Shanghai Petrochemical fell 1.06%.</p><p></body></html></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/b23574aac95526c9e5c62ebc8dd25130","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172206517","content_text":"美股收高，标普与纳指连续第四周上涨；美国国会众议院投票通过通胀削减法案；知名机构景林、文艺复兴Q2美股持仓曝光；5家中企宣布启动美股退市>>>海外市场收盘：美股周五收高，标普与纳指连续第四周上涨美股周五收高，三大股指本周均录得涨幅。道指涨424.38点，涨幅为1.27%，报33761.05点；纳指涨267.27点，涨幅为2.09%，报13047.19点；标普500指数涨72.88点，涨幅为1.73%，报4280.15点。本周美股三大股指均录得涨幅，道指上涨2.92%，纳指上涨3.08%，标普500指数上涨3.26%。纳指与标普500指数均录得连续第四周上涨。热门中概股周五收盘涨跌不一热门中概股涨跌不一，蔚来涨1.39%，新东方涨0.92%，百度涨0.70%，腾讯音乐涨0.23%，京东涨0.19%，阿里巴巴跌0.11%，理想汽车跌0.67%，小鹏汽车跌0.81%，好未来跌1.07%，拼多多跌1.65%。周五美国WTI原油期货收跌2.4%市场预期美国墨西哥湾的原油供应中断将是短期的，而对经济衰退的担忧使需求前景蒙上阴影。纽约商品交易所9月交割的西德州中质原油（WTI）期货价格收跌2.25美元，跌幅为2.4%，收于每桶92.09美元。周五纽约黄金期货收高0.5%，本周金价录得连续第四周上涨纽约黄金期货价格周五收高，摆脱了早间的跌幅，并录得连续第四周上涨。纽约商品交易所12月交割的黄金期货上涨8.3美元，涨幅为0.46%，报收于每盎司1815.50美元。本周黄金期货价格累涨1.36%，录得连续第四周上涨，创2021年12月31以来的最长连涨纪录。国际宏观美国国会众议院投票通过通胀削减法案美国众议院以220票赞成、207票反对的投票结果通过2022年通胀削减法案（Inflation Reduction Act）。该法案的内容包括应对气候变化和扩大医疗保健覆盖范围等。下一步法案将由总统拜登签字正式生效。美参议院民主党人：SEC应加大力度打击企业高管内幕交易当地时间周五，沃伦等参议院民主党人致信SEC主席加里·詹斯勒称，SEC应该迅速采取行动，加强其规则，不能允许企业内部人士利用内幕信息进行交易，却不用受惩罚的情况继续发生。美媒：美国前总统特朗普涉嫌违反《反间谍法》根据当地时间8月12日公布的法庭记录显示，联邦执法部门怀疑前总统特朗普违反了《反间谍法》（Espionage Act）和其他相关法律，并因此获得对其佛罗里达州海湖庄园的搜查令。公司新闻景林Q2美股持仓：贝壳升至第一大重仓股 阿里、拼多多重回前十大持仓美国当地时间周五早晨，中国知名私募景林披露了截至6月30日的持仓报告（13F表），在市场剧烈波动的二季度基金也展开了明显的换仓操作。根据公司披露，一季度末景林整体持仓规模为22.44亿美元，较前一季度略有下滑，前十大持仓的集中度维持在78.18%。文艺复兴上季度对蔚来持仓增加逾两倍，减持特斯拉文艺复兴增持蔚来汽车ADR（增持达229%）、雪佛龙、伯克希尔哈撒韦B类股、马拉松石油等1963只股票。减持特斯拉、AMD、莫德纳、富国银行等1490只股票。重仓股包括微软、Meta、苹果、雪佛龙。建仓做多微软、高盛、应用材料、花旗等706只股票。清仓亚马逊、谷歌A和谷歌C、辉瑞制药、高通等567只股票。又一家美国零售巨头裁员！报道称百思买过去一周裁员“数百人”媒体周五援引知情人士的话报道称，美国最大消费电子零售商百思买正在美国各地裁员，以削减成本并提高利润。报道称，百思买过去一周在全美范围内裁员“数百人”。该公司减少了其零售店的员工人数，同时还削减了一些帮助客户规划和购买家庭娱乐布局的员工的职位。互动健身平台Peloton宣布裁员近800人，关闭大量门店并提高产品价格全球最大互动健身平台Peloton周五告诉员工，该公司将裁员约780人、关闭大量零售门店，并提高部分设备的价格，以降低成本并实现盈利。该公司没有具体说明计划在86家零售店中关闭多少家，但表示计划从2023年开始“积极”减少。5家中国企业宣布启动自美退市，意味着什幺？有何影响？中概股方面，中国石油、中国石化、中国人寿、中国铝业、上海石化5家中企宣布，将其存托股自纽交所退市。对此，纽约证券交易所表示，对此事“不予置评”。截至周五收盘，中国石油收跌1.65%，中国石化跌1.8%，中国铝业跌0.76%，中国人寿下跌1.46%，上海石化跌1.06%。","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}