$XIAOMI-W(01810.HK) Analyze based on the data

1 Short selling situation: Currently, short positions are at a historical high (cost basis), and they will eventually need to buy back to cover. The short selling ratio in the past three days has been around 18-22%, which is relatively high. The intention of institutions is to scare out retail investors' holdings and wait for their big sell-off to cover their own positions. This is also our opportunity to bottom-fish.

2 Price-volume relationship: Xiaomi's stock price has been falling, but funds are consistently flowing in. Market makers' control is one aspect, while buybacks and some soft positive fundamentals remain stable. This is also the confidence for value investing.

3 Potential influencing factors: Tensions between China and Japan, potential European trade wars, and the Fed meeting are all reasons for the reduced trading volume and cautious stance today. A small amount of funds can trigger a sell-off, but when positive news comes, short sellers hardly resist.