To The Moon

Readers would have known that I have a view of the broad markets and have mentioned that my view is for Nasdaq 100 to hit 16,000. Will I be right or wrong? Like what I have always said, only time will tell if I will be right. Even if I am right now, will I continue to `be right? As you know, past performance does not guarantee future performance though it is one indicator to assess my ability to read the markets.

As it goes, I had in May 2021 mentioned that we had to see if support can be held at 13,000 for Nasdaq 100 futures during the cryptocurrencies crashed when Bitcoin first broke 40,000 USD and then tanked rapidly to 31,000 USD. ETH and Dogecoin also fell rapidly back then. Since then, I had mentioned that further support should be seen at 13,400, 13,560, 13,700 and 13,760 and have over the course of this period added to (i) my investment in $老虎證券(TIGR)$ Tiger Brokers when it was at 14 USD all the way up to around 26 USD (will not comment on my average price but I did pick up alot of shares below 20 USD)  and (ii) made money trading Nasdaq 100 longs. Note futures trading is not suitable for most people as most people lose money trading leveraged financial instruments such as equity indexes futures. One has to know how to cut loss fast when ONE IS WRONG. That is why I work on the PREMISE THAT I COULD BE WRONG. I find that it is particularly suprising that some readers (but not my fans and followers) commented angrily on my articles when my intention is to share my experience and thoughts. They did not read my articles consistently and thought I was giving views on MEME stocks when I had clearly shared that I have no views on $AMC院線(AMC)$ $遊戲驛站(GME)$ $黑莓(BB)$ but my intention is for people to know what they are doing so that they can prepare themselves. Like what I said in my article "Updates to my trading principles", one should be unemotional when trading. In fact, losing money is part and parcel of trading and no one can be right 100% of the time. The key is how to keep losses to the smallest possible when one is wrong.

Last night, my followers/ fans would have known that I have shared that I will not be surprised to see Nasdaq 100 hitting 14,000. In fact, I picked up more long positions in Nasdaq 100 when it came back down yesterday around 7 to 8 p.m. when Nasdaq 100 hit around 13,726 (intraday low). I have also taken profits at around 13,947 as I had personal matters to attend to last night. Will I always be right? NO NO NO.... I just try to improve my knowledge and stay humble to know that markets are always right. 

My latest prediction in this article is that $老虎證券(TIGR)$ Tiger Brokers' shortsellers will go broke going forward. Why? Will I be right? Only time will tell... The point is shorting a good company with good fundamentals and in a growing industry (fintech) is like going against a train. While shortsellers in Tiger Brokers may have temporary victories in the battle against Tiger Brokers, I am sure that this is not worth for them to fight such a battle. Why? For the few times that they made the profit from shortselling Tiger Brokers, one major burst up of Tiger Brokers' share price will erase all their profits. What's worse is the major upburst could even cause them to lose money. Why take such a risk? But I have reminded them umpteen times on the infinite risks of shortselling Tiger Brokers. You will also notice that shortsellers who have usually shorted a volume of around 5.5 million shares in Tiger Brokers, have increased their short positions to around 8 million shares during the day. With the broad markets on the edge of burst up and the fintech industry going to get better, why take such an infinite risks? I will leave it to you to do the thinking.

As of this morning, I had added more Hang Seng futures at around 28,680 and taken some profits at around 28,800 and then added some back at around 28,770. Will I definitely be right? NO NO NO... If I am wrong, I will cut loss!! But I am of the current view that Hang Seng futures could potentially break 29,000.

As always, the above (including my past articles and posts) should not be construed as any investment or trading advice.