Tonight, the US stock market opened relatively smoothly, and gold and silver continued their rebound trend. In the afternoon, the crypto market's sentiment recovered after BN Fund bought $100 million worth of Bitcoin and Yilihua sold ETH to cover margin requirements. Currently, it is also rebounding along with gold and silver.

However, it should be noted that the rebound after gold dropped to 4500 is a normal performance under the pre-set script. After such a significant decline, a rebound to recover is inevitable.

But a rebound is not a reversal. Currently, this market condition is only suitable for those watching minute-by-minute charts to enter and fight. Long-term investors don't need to rush; the true bottom will be a longer cycle with many entry opportunities. However, starting to build positions at 4500 for gold is also fine, and everyone should develop a plan based on their style and position size.

Recently, market rumors suggest that the family office of Druckenmiller, the mentor of Bessent and Wosh, has liquidated its holdings in Nvidia and PLTR, and has heavily re-entered Amazon, Meta, and Google. As a key stakeholder in Trump's team, his moves are worth our reference and learning.

This week remains earnings season. Given Druckenmiller's actions, the earnings reports of PLTR, GOOGL, and AMZN are especially worth paying attention to.

Liquidating Nvidia and PLTR does not mean he is bearish on AI; rather, he believes the logic of AI investment in the second half has changed. He thinks these "mega-scale manufacturers" with the strongest data and capital expenditure capabilities are the ultimate winners in the AI arms race, and their valuations are more attractive than Nvidia's.