Here’s the translation: --- Some thoughts over the past couple of days: Storage has pulled back—what’s next for the market? The storage sector has undergone a violent deleveraging. Judging by the magnitude of the drop and the volatility, it’s clear that the crazy storage rally has come to a temporary end. A few days ago, I explicitly pointed out that SK Hynix’s U.S. stock listing was very likely the peak of the storage phase. I just didn’t expect the correction to come so much earlier and faster than anticipated. Wall Street money never sleeps. Whether you’re stuck holding positions or just watching from the sidelines, the real question is: where might the next opportunity arise? 1⃣️ After the storage pullback, will it continue to rally on its own? I think that’s unlikely. As I’ve said before, capital gets bored. Looking at global markets, there are so many quality assets and undervalued opportunities after corrections. There’s really no need to go back to something that’s already had a massive run and undergone violent deleveraging. The big players probably won’t play that game. The current storage market reminds me of gold in early 2026—it might see a rebound, but that rebound will likely just be the last chance to exit. 2⃣️ Will the money keep circulating in AI? I think it’s highly likely. AI remains the clearest main theme in global financial markets. Fundamentals haven’t deteriorated, and the trend is still intact. So, the money coming out of storage will probably stay within the AI sector, looking for the next opportunity (or sub-sector). As for what exactly will be hyped next, we’ll need some professional research analysts to weigh in—I don’t have a clear view on that yet. 3⃣️ Crypto, software, commodities, and other sectors that have dropped to attractive valuations might also benefit from this cycle of capital concentration and dispersion. However, if there’s no compelling narrative to ignite a rally, it’s likely to just be a recovery phase without a major breakout. For a strong rally, there needs to be a story to tell. So, we’ll have to see if the big players introduce a narrative during this recovery phase. That’s about all I’ve got for now. Teachers, please feel free to add your thoughts—hopefully with solid reasoning. ---