Although short selling pressure was strong yesterday, Micron and SOX rose above the 20-day line. Micron showed strength with strong buying momentum in the early stages, but it was pulled down by option battles near the market close, but closed at around 4%.
As mentioned in the report above, the fact that BlackRock has secured funding for AI infrastructure is quite impressive.
So far, FCF has been using its influence to suppress the stock market by targeting the entire AI sector, with Korea being hit the hardest. However, the report states that BlackRock's introduction of a GPU collateral loan product has created a new source of funding, alleviating some concerns.
Of course, there are questions about whether GPU collateral valuation can be done properly. This could potentially lead to another snowball effect and even trigger a new financial crisis.
However, the fact that BlackRock is leading this initiative is quite impressive. Other investors may wonder "Why GPU collateral?" but also think "Since BlackRock is involved, we don't have to worry about money for now."
The team leader still believes it's too early to call a trend reversal, as Hynix is below the 20-day line and still far from its peak.
Yesterday, with margin deposits falling below 100 trillion won, individual investor sentiment deteriorated. However, the vKOSPI index dropping to the 60s shows a relatively stable market psychology.
Ultimately, this means that only those who want to invest remain, and latecomers are gradually recovering their principal and leaving.
Even though margin deposits are below 100 trillion won, it's still higher than last year. If the market rises, individual investors may lose their principal and re-enter the market, so I'm not overly pessimistic.
Today's market sentiment seems positive, but it's a weekly option expiration day with strong put gamma. The key is what choice foreign investors will make. Will they discard puts and cover shorts, or will they fight against institutions holding large call options at higher price levels, trying to pull the futures down to 1000? The time for decision is approaching.
