If a foreigner is the older brother and an institution is the younger brother, the household register is the role that each individual takes on.
Today we were able to see the tearful brotherhood between the older brother and the younger brother.
Of course, it's my personal leap forward, so there's no need to delve too deeply into it ㅎㅎㅎ. And since there are expressions that are too demeaning, I will try to tell the story in a more refined way.
The foreigner started selling from the morning and at some point began to sell very passively. It was probably around when the KOSPI reached about 6,900. The institution followed suit, excitedly selling, but stopped selling at some point.
It seems like they stopped because they were receiving too much attention.
The interesting thing is that around 2:12 pm, the National Pension Service suddenly poured in 300 billion won. At that moment, it rebounded, and when the older brother didn't react, they seemed worried about taking a loss, so they poured in another 300 billion won.
It seems like foreigners and institutions have set a line. We shouldn't go below 6,800.
Today's closing price was also parked at 6,820. It didn't go any further or lower than that, and it perfectly matched the 6,800 mark where it had fallen to 6,500 last time and then rebounded.
Now the problem is what comes after today.
Depending on the direction of Samsung Electronics, whether they lower the set line or raise it will be decided.
Looking at the current atmosphere, there's a high possibility that Samsung Electronics will experience a slight technical rebound today.
The problem is that tomorrow is a holiday for the head of the National Pension Service, so if there are any variables on Friday from the US market, it seems like they will decide whether to lower the set line or raise it again through buying.
Speaking briefly about the US semiconductor market now, the trading volume in the US market seems to be heavily influenced. Recently, trading volume has been concentrated on big tech (big hands have moved there), and the trading volume for semiconductors has significantly decreased compared to June. As a result, trading volume is not coming out much, and most importantly, there is no buying momentum. It's almost like an option-eating market. Moreover, Burry is shorting even further.
The option expiration date in the US is July 17th. Micron put options, which have the biggest impact on the Korean semiconductor market, are mostly bet on 900. Of course, call options are currently more weighted, and call options are most heavily bet on $950. The battle between 950 vs. 900 seems likely.
However, recently there have been quite a few 850 put options, and this is a price point currently covering the 120 line. If it falls to this level, it's likely that maintaining the 6,800 line in Korea will be difficult.
Ultimately, supply and demand issues, short selling, and big hands investing in big tech are continuing to pressure the domestic stock market...
Anyway, this week has ended at the 6,800 line. This week's candlestick chart closed lower, but the fact that it hit two bottoms is a somewhat positive aspect...
There have been four consecutive weekly closing lows, and those who look at charts know better than me, but this is not a good sign. If we had closed higher this week, there was a chance for some kind of reversal next week coinciding with the start of big tech earnings announcements. But now we're just constantly confirming that the low point is getting lower.
If it fails again, we will continue to look for the next low point, and if it fails again, this vicious cycle will repeat.
Ultimately, the fate of KOSPI early next week will be decided by the battle over Micron's closing price at the option expiration on Friday. The minimum goal is to maintain 900 dollars and go beyond that...
By the way,
Meanwhile, foreigners bought futures worth nearly 2 trillion won in the late hours, preparing for next week... (-700 billion won to +1.2 trillion won in an instant...)
Will they open a gap on Monday and then throw spot prices again to escape inverse positions? Or will they use futures trading to give hope and attract buying together?
