I have participated only selectively in the space-stock rally. Most listed space names are still driven more by narrative than cash-flow certainty, so risk control matters more than conviction. Calling space the “Tesla of 2019” is partly accurate, but incomplete. Like EVs back then, space has a strong story and long runway. Unlike Tesla, however, commercial monetisation is slower, more capital-intensive, and heavily reliant on government contracts. Outcomes are therefore more binary and timelines longer. If SpaceX were to IPO, I would be interested, but disciplined. SpaceX has clear technological leadership and execution credibility, which sets it apart from most peers. That said, valuation would likely be aggressive, with early price action driven by scarcity and sentiment rather than fu
$Tiger Brokers(TIGR)$ 2025 reinforced one timeless lesson for options traders: volatility is only an opportunity if risk is defined. My standout trade was not a spectacular win, but a well-timed hedge. Buying index puts ahead of the April tariff shock meaningfully cushioned the portfolio when correlations spiked and liquidity thinned. The hedge paid for itself and, more importantly, preserved decision-making clarity when emotions were running high. The hardest lesson came from the AI surge. I exited a profitable call spread too early, underestimating how long momentum and narrative can overpower valuation. It was a reminder that being “right” on fundamentals does not always mean being right on timing. If 2025 taught me anything, it is this: optio
Friday’s sell-off looks less like a breakdown and more like a positioning reset within a crowded AI trade. Why the drop happened Broadcom’s results exposed a key risk the market had been under-pricing: AI revenue growth does not automatically translate into expanding margins. The lack of FY2026 AI guidance forced investors to de-risk, triggering rotation into defensives rather than outright risk aversion. Importantly, this was a valuation and expectations shock, not a balance-sheet or demand collapse. Rebound or further downside? A short-term rebound is likely, but it may be tactical rather than structural. Many AI leaders remain above key long-term trend supports, and CTA and systematic selling should ease after the initial shock. Dip-buyers will likely re-emerge, especially if macro data
Gold’s rebound alongside silver’s breakout reflects a classic late-cycle mix of easing expectations, currency debasement concerns, and strong physical demand. On profitability: For investors who accumulated gold during the mid-year consolidation, positions are generally back in profit. The rebound has been technically constructive, with higher lows and renewed ETF inflows. Can gold revisit prior highs by year-end? It is plausible, but not guaranteed. A decisive move depends on two factors: confirmation of a sustained rate-cut cycle and a weaker US dollar. If real yields continue to drift lower and geopolitical risk remains elevated, a retest of previous highs is achievable. A sharp risk-on rally in equities could delay this. Gold vs silver: I remain structurally more bullish on gold as a s
$Tiger Brokers(TIGR)$ 2025 reinforced one lesson for me. Options are tools for risk control first, profit second. My standout trade was not a spectacular win, but a protective put on a tech-heavy position ahead of April’s tariff shock. The hedge capped downside when correlations spiked and liquidity thinned. It bought time, clarity, and psychological space to act rationally rather than react emotionally. The harder lesson came later in the year from an overconfident short-dated call during an AI momentum phase. The thesis was right, the timing was not. Volatility collapsed faster than expected, and theta did the damage. A reminder that conviction without patience is expensive. If 2025 taught me anything, it is this. In volatile markets, the best
The sell-off looks more like a positioning reset than a breakdown, but the near-term path depends on follow-through. What drove the drop Broadcom’s decline was less about earnings quality and more about expectations. AI names were priced for flawless execution, expanding margins, and clear long-term visibility. Any hint of margin normalisation or guidance ambiguity was enough to trigger de-risking. The rotation into defensives reinforces the view that investors were crowded on one side of the trade. Rebound or continuation Short term (next week): A technical rebound is plausible, especially if there is no fresh macro shock. Oversold conditions in large-cap tech and systematic flows can support a bounce. Sustainability: The rebound, if it comes, is likely to be selective rather than broad-b
Gold The rebound suggests that the pullback was corrective rather than structural. With real yields stabilising, central bank buying remaining firm, and geopolitical and fiscal risks unresolved, gold can plausibly revisit its prior highs by year end if financial conditions ease or risk sentiment deteriorates again. That said, a straight line higher is unlikely. Consolidation near resistance would be healthy. Silver Silver’s outperformance reflects its dual nature. It benefits from the same monetary tailwinds as gold, while also riding optimism around industrial demand, especially in energy transition and electronics. This makes silver more volatile but also more explosive in late-cycle or reflationary phases. Gold vs Silver Gold is the cleaner hedge: monetary debasement, central bank deman
$Tiger Brokers(TIGR)$ 2025 was a reminder that options are less about prediction and more about preparation. My standout takeaway was not a single spectacular win, but how disciplined structures mattered more than bold direction. In a year driven by tariffs, rate surprises, and AI re-rating cycles, defined-risk strategies consistently outperformed emotional conviction. Well-timed call spreads around earnings captured upside without overpaying for volatility. Protective puts and collars proved invaluable during sharp macro drawdowns, preserving capital when sentiment flipped overnight. The toughest losses came from underestimating how quickly implied volatility could compress after major events, even when the thesis was right. The key lesson from
$Broadcom(AVGO)$ The after-hours pullback in Broadcom reflects expectation management rather than a breakdown in fundamentals. Is the semiconductor dip a buying opportunity? Selective rather than broad. The sector has rerated sharply on the AI theme, so any data point that does not exceed lofty expectations invites profit-taking. That said, secular demand for AI infrastructure, networking, and custom silicon remains intact. High-quality names with pricing power, diversified end markets, and visible cash flows still justify accumulation on weakness. Lower-quality, narrative-driven names deserve more caution. Has the market abandoned the AI narrative? No. What we are seeing is a transition from narrative-driven multiple expansion to execution-
Silver’s breakout above its previous peak signals strong momentum. It is benefiting from both monetary demand and tightening industrial supply, so its outperformance relative to gold is not surprising. Gold’s rebound remains intact, supported by the rate-cut cycle, softer real yields, and steady central-bank accumulation. If you entered earlier in the year, your position is likely in profit since spot gold and silver have climbed steadily after the October correction. Short-term swings aside, the structural drivers remain supportive. Gold could retest its previous highs before year-end if real yields drift lower and ETF inflows resume. Seasonality also tends to favour precious metals in December. Silver, however, is showing stronger beta and may continue to lead if risk sentiment improves.