SK Hynix Commentator
Rate Of ReturnBought some $XL2CSOPSMSN(07747.HK) without premium at the close, no choice. I expected panic orders waiting to be filled in the Korean market this morning, but both the US and Hong Kong markets weren't open yet, so pissed off.
Be wary of a secondary pullback. You can review the previous few sharp declines followed by rebounds; they almost always have a secondary pullback to confirm the bottom. I'll buy $Roundhill T-Rex 2X Long DRAM Dly TrgtETF(RAM.US) next Monday, waiting for SK Hynix ADR to list and gradually switch over. Holding the underlying stock can then ignore the volatility.
Now that it's fallen by two times, it can only rise back by two times. Switching to the underlying stock account now makes it hard to reach new highs again.
$XL2CSOPHYNIX(07709.HK)$Roundhill Memory ETF(DRAM.US)$XL2CSOPSMSN(07747.HK)Tomorrow I will place my first buy order at 91.5, corresponding to the underlying stock at 209, the second at 85, and go all in around 80, corresponding to 185 for the underlying.
I can only say the South Korean government is incredibly stupid. Just as Samsung and SK Hynix had two good quarters, they come and force them to expand production and spend money. They don't suppress prices during the rally, instead issuing leveraged ETFs. They don't support the market during the decline. Now look, all the triple-leveraged ones are blown up, and the double-leveraged ones are severely damaged. Just wait for the bankrupt young people to take to the streets and become 'flying men'. I'm only losing profits, but you South Koreans have gambled away your own national fortune.
The stock price will definitely recover and reach new highs. But your young people will have no money, and the elderly will lose their retirement savings. All the money will have been taken by institutions and foreign capital.
I suggest cracking down on short selling tomorrow, and having the government step in to buy stocks. If Samsung and SK Hynix themselves come out and say there's a shortage and production expansion is difficult, there might still be a chance to save it.
They had a great hand and played it terribly themselves.
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