<p>Stock Live Trading P9: Major Losses</p>

US Stock Account

Start of Week 9 NAV: 116,285 HKD

Week 9 Deposit: 20,000 HKD

End of Week 9 NAV: 125,589 HKD

Week 9 Trading P&L: -10,696 HKD

Cumulative 9-Week Trading P&L: +1,997 HKD

Scary, truly terrifying. In just one week, it wiped out the results of my two months of hard work. Over these short 4 days, there was a comprehensive sell-off every day. No chance to get trapped and average down. Every day I watched the account hit new lows, heart-wrenching. The optical module and storage sectors remain strong, gold is okay too, but my heavy positions in minor metals, pharma, China concept stocks, and aerospace took a severe hit, with drops of 8-9% easily. With 4x leverage, how could I hold on? If I hadn't deposited another 20k HKD at the end of the week to patch things up, I would have already been liquidated.
Analyzing my holdings:
Zhonggai Wuzha: Has fallen for several consecutive weeks.
NetEase: I'm holding long-term. The reality is right there; gender tensions are high, and ordinary men face significant pressure in finding partners. Many will dump their emotions and spending into low-cost spiritual distractions like gaming. This isn't an immediate realization logic; it requires time to verify.
• Zoetis (Note: 'Zhao Yan' likely refers to a specific stock or typo, assuming generic context or keeping as is if ticker unknown, but here translating text): I can't fully grasp the monkey research sector, but it's at least a CXO innovative drug leader with speculative elasticity. No reckless moves, waiting for funds to accumulate momentum, waiting for the next wave.
• Alibaba: Cost basis 120. Looking at the monthly chart clearly, previous monthly highs basically touched 120. Focus on September; if the September high doesn't break 120, we must face reality and return to the bear market state of 2024.
• PDD Holdings: Many big shots in the market are calling it undervalued. I won't cut losses, let it grind a bit more, hoping to return to my cost of 88, shouldn't be a big problem.
• Baidu: Pure speculation, now trapped. The P/B ratio is significantly below book value. Previously, US institutional investors entered for layout, so I'll hold and see if this institutional logic can play out.
Copycat Portfolio Pitfalls: Lost 10% this week
ALB: Albemarle (ALB) is my personally most favored stock. Last add position was at 127.5, haven't moved since, waiting for time to repair.
Path: I don't understand it, had huge losses before. But its elasticity is decent, I'll exit on a rebound.
Boston Scientific: Personally feel the current price isn't high; its P/B and P/E are both very low. This sell-off can only be said to follow the same logic as PDD and Ctrip earlier: funds fleeing on bad news, tricking those who don't believe ghost stories into taking the bag. Everyone knows cybersecurity isn't a major issue, but funds continue to flee, indicating US market liquidity is limited. Large capital flows to higher-yield areas and is unwilling to waste time in dead-water stocks, which is the same logic as Nike, Constellation Brands hitting new lows.
Others
NVO: Weak as hell, heavily trapped
AA: No longer following LME Aluminum, want to cry
RKLB: Finally green by 2 points this week, has been falling for a long time, give it some strength next week
DY: Deeply trapped, dared not add, yet rebounded this week
UBER: Quality stock, bought the dip and got trapped
LMT: Wait for war to start over the weekend

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A-Share Account

Last Week NAV: 64,819

This Week NAV: 61,291

This Week Drawdown: -3,528

Cumulative Return: 11,291

The A-share market also bled heavily this week. The main issues were adding Dongpeng Beverage at 119, heavy positioning in Sieyuan Electric at 140, plus Luoyang Molybdenum and innovative drugs crashed, and Yutong Bus continued to pull back, making my account look very ugly.