[US Stocks, January 26] The market is searching for direction, but speculative sentiment is extremely high. Moreover, speculation is concentrated in non-yielding assets like gold and silver, which is even less attractive than speculating on AI! The market structure and sentiment are mismatched; the structure is neutral or even slightly bearish, but the sentiment is too speculative. Today I've shifted to a slightly bearish position. 30% long, 40% short, 30% cash. But overall, the market is still consolidating, without a clear trend. Also, I short a short position at 101 $slv

I opened a short in silver at 101 yuan on 2024111120230; the current price is 105 yuan. My short position has already made a 10% profit. Do you believe it?

[Post-Market Summary, January 26] I closed my positions in the materials sector at the open today, as my weekend research suggested the rotation within the materials sector might be nearing its end. Overall, the market lacked direction, but the "large-cap tech" sector was clearly consolidating. If the earnings reports of large-cap tech stocks are positive, there's a high probability of a significant upward move, so I'm maintaining a base position and waiting for the earnings reports. I started short the sector today, and continued short the aviation sector.