Watching them fight tooth and nail yesterday too to stop SOX and Micron from closing above the 20-day line
means there are forces openly pressing them down, and that flows are not what they used to be while market participants are leaving for other sectors.
Michael Burry, who is openly taking a short position, seems to have taken that short after looking at this supply-and-demand aspect, and if it cannot break strongly above the 20-day line in the short term, I see a picture of it riding the 20-day line downward for quite a long time.
In our country's case recently
https://uclif.yeobak.com/videos/GJYz6pEoc04
As in the content here, it says foreigners have kept attacking the vulnerability whereby, in tandem with derivatives, they profit even when selling spot, through the selling and buying of futures.
In our market too, seeing foreign macro players buy and sell spot to pin the futures index at the 1000 line, they keep attacking the vulnerability of selling spot and taking profit through futures.
Volatility has at least fallen thanks to the leverage restrictions, but it feels like foreign macro players keep tenaciously digging at that vulnerability.
The conclusion is that unverified derivatives have exposed the domestic market's vulnerability as it is,
and everyone is in a panic over the abnormal share price movements of Samsung Electronics and Hynix, which have single-stock leverage products..
Looking at this morning's session too, foreigners keep buying and selling spot back and forth while swinging the futures index above and below 1000, continuing to create abnormal index movements in Samsung Electronics and Hynix and driving individuals out of the market...
Still, thanks to the leverage limits the attacks are not as fierce as before, but it is frustrating to wonder how long we have to keep playing along with the foreigners' game.
If there is no countermeasure, for the time being there is nothing to do but adapt to the changed market, and this has forced a rotation; it seems to be time to turn our eyes to other sectors, or to leave the domestic market altogether and spread some funds into the US market.
