2023-12-03

Hi, welcome back. So I'm up around 7 percent this week. The biggest profit is from MonTLT. So basically the market is trading the falling interest rate expectation for the whole week.

So this is my option positions.

So my biggest position is still the long TLT trade. So it's expiring in March next year, which I think is a long enough time frame.

So this is my SPX Delta positions. So this way I've added some slightly short positions to try to hedge my market risk. So for example, short Apple, General Motor and DE. And there is really not much macro news for the market this week. I think in December, we are basically in the quiet period for the year.

So I just cover some of the company news that is related to my portfolio. So the first one is from a Chinese e commerce company, PDD. It has released earnings this week,, which was much better than expected. So the share was up more than 14 percent after the results.

And it's basically posing some serious competition against Alibaba and JD. com, So this is the chart of PDD compared to other e commerce companies, so we can see Alibaba and JD were not doing pretty well recently. So I think I may just wait for some rally for JD and just cut this position.

And this is the second stock, General Motors, so it has announced a massive dividend. Upgrade in this week, and the share was actually up 10 percent this week, but I think the fundamental of this company is still very weak. For example, if you look at the manufacturing PMI

and it's actually going into the contraction territory and same for the ISM PMI . So it signals that the U S economy is slowing down right now.

And so that's why the falling yield and the interest rate expectation as well. So there's some revenue number for general motor. So we can see the expected revenue growth for the next three years is actually lower than inflation. So it means no growth.

And yeah, I think it's a kind of a short every rip type of company. So this is the valuation of General Motors. So we can see the PE ratio is very low, which is also signaling that the weak balance sheets and the growth outlook for this company.

So this is a chart of General Motors. So it's a very overbought situation in terms of technical analysis. So that's why I would like to add some short position on this company. And finally, just some coverage for Apple. So recently it's have a news about Apple that the sales for iPhone in China is not really that good.

And it's also facing some serious competition from Huawei and Xiaomi. So I think it may be a good short selling candidate to hedge against some market risk. There's also another coverage about that. Um, we have a lot of hot money in the market right now,

but it's actually just concentrated in the so called Magnificent 7 stocks, which is including Apple. So I just think it's a good risk management to back against Apple as a proxy to hedge against this concentrated risk. So that's the update for this week.

Thank you for watching. See you in the next week. Bye.