On the occasion of this New Year, I wish all my brothers and sisters a Happy New Year! May your families be happy, and may the New Year bring you prosperity!

Tomorrow is the opening day of the US stock market. Let me briefly share my analysis of the current market logic. The market has already started to abandon large-cap stocks and is shifting to small and mid-cap stocks.

Simply put, the market is starting to short companies that can be replaced by AI, such as consulting, real estate, and legal industries, while going long on industries that AI cannot replace, such as manufacturing, data centers, and power.

Another crucial factor is non-ferrous metals, especially rare earth mining and nuclear energy companies. Therefore, the US stock market will continue to fluctuate in the near term. The first key point that could end the volatility is NVIDIA's earnings report, the second is a US-Iran agreement, and the third is a dovish stance from the Fed.

So, major investment banks will continue to rotate and adjust their portfolios in the near term. There's no need to panic. We hold storage chips and small and mid-cap manufacturing stocks, which have strong logic in a seller's market. Let's patiently wait for the overall market adjustment to end.

$Sandisk(SNDK.US)$Western Digital(WDC.US)$Micron Tech(MU.US)