Recently, I've seen a bunch of memes and celebrities shouting a couple of slogans and then taking off, basically just a sign that risk appetite has returned a bit and everyone is itching to act. But the macro trend is actually pretty straightforward: when interest rates are high, money sitting outside still earns returns, so fewer people are willing to hold high-volatility positions; once expectations of interest rate cuts start to form, everyone relaxes the concern about "whether they can lose money," and positions naturally become heavier.

Right now, I feel more like doing "practice" — not aiming to beat the market, but first training myself not to be led by attention. Seeing the hot rotation reminds me: the moment everyone is talking about something online, it's often the easiest time to be the last to jump in. Adjusting positions is simple and straightforward: if you can't see clearly from a macro perspective, don't force it; lock in the impulsive part first, keep some bullets for when emotions subside, and anyway, I don't want to generate energy out of love.