RektDetective

Many people who enter the stock market soon realize that there are two data points on the trading software: "internal volume" and "external volume," and they often hear others talk about the "internal-external volume ratio." But what exactly do these indicators measure? How are they related to our trading decisions? The core logic of internal and external volume is to judge which side—buyers or sellers—is more eager and who is actively driving the stock price movement. Mastering the internal-external volume ratio is equivalent to understanding the short-term capital flow in the market.
The essence of internal and external volume: who is actively executing trades
To understand internal and external volume, first clarify the difference between "active buying" and "active selling." Before a stock transaction occurs, there are【pending orders】and【immediate execution orders】in the market. Internal and external volume are used to distinguish whether the buyer or the seller is more proactive.
When quoting a stock, sellers aim to raise the price as much as possible (ask price), while buyers aim to lower the price as much as possible (bid price). When a stock transaction occurs at the bid price, it indicates that the seller is willing to actively meet the buyer's quote.

From Panic to Celebration: A 30-Day Dramatic Turnaround
A month ago, the market was still worried about the New Taiwan Dollar (NTD) breaking through 34, or even 35. Now, it has witnessed a historic reversal. According to market data, in just two trading days in early May, the USD/NTD exchange rate experienced a rare rapid adjustment in decades — the NTD appreciated more than 5% in a single day, marking the largest gain in 40 years, and during trading, it even approached the critical psychological level of 29.59.
This wave of appreciation is not an isolated phenomenon. Observing the overall performance in Asia, the Singapore Dollar rose 1.41%, the Japanese Yen increased 1.5%, and the Korean Won surged 3.8%. However, the degree of NTD appreciation clearly surpasses that of its peers. In the short term, it has appreciated over 9%, not only setting multiple historical records but also triggering the third-largest trading volume in foreign exchange market history.
To understand the root of this reversal, we must revisit the policy background at that time. The U.S. government's decision to delay the implementation of tariffs by 90 days instantly triggered

The market is optimistic following the Bank of Japan's rate hike, driving up various assets. Ethereum has broken through $3,000 again, the S&P 500 index remains steady at 6790 points, USD/JPY maintains an upward trend, and gold hits a new high of $4,400. Multi-asset performance is strong, and attention should be paid to key technical levels and future trends.

The Taiwanese dollar's surge is astonishing. Where is the US dollar to TWD heading?
The New Taiwan dollar has recently experienced a historic rally, appreciating nearly 10% over just two trading days. According to market data, on May 2nd, the TWD surged 5% in a single day, marking the largest increase in 40 years. The next day, it continued to strengthen, breaking through the critical psychological level of 30 TWD per USD during trading, with a low of 29.59, hitting a 15-month high.
Such dramatic volatility is extremely rare in the global foreign exchange market and has triggered the third-largest trading volume in history. In contrast, other Asian currencies during the same period also appreciated following US policy adjustments, but their gains were far less aggressive—Singapore dollar up 1.41%, Japanese yen up 1.5%, Korean won up 3.8%. Compared to these, the TWD's rally stands out uniquely.
Compared to its performance earlier this year, the TWD was still slightly depreciating, but within a few weeks, a dramatic reversal occurred. Is this market overreaction or the beginning of a new trend?

The NT dollar against the Japanese yen surged to 4.85, and the travel season in Japan is about to take off again. But have you ever thought that a small matter like currency exchange could cost you a meal just by choosing the wrong method? We break down the four most popular ways to exchange yen so you can find the most cost-effective one in just a second.
Is it really cost-effective to exchange yen now? Timing is more important than method.
Here's the conclusion first: Yes, but in installments.
On December 10, 2025, the NT dollar against the yen reached 4.85, up from 4.46 at the beginning of the year, an appreciation of nearly 8.7%. For investors, the exchange rate gain from converting yen has already been significant. However, there's a key issue—yen volatility is high.
The US is entering a rate-cut cycle, which could support the yen. More importantly, the Bank of Japan has recently turned hawkish, with Governor Ueda Haruhiko's remarks pushing up rate hike expectations to 80%, and the market anticipates a rate hike to 0.75% in December, reaching a 30-year high. USD/JPY has risen from the beginning of the year to 16

By the end of June, the Nikkei 225 Index broke through the 40,000-point mark, reaching a 33-year high. But the question is: can this rally continue? Which Japanese stocks are worth jumping on? How should retail investors in Taiwan enter the market?
How did this wave of gains in Japanese stocks come about?
When it comes to this round of market movement, it is definitely driven by two key words: "valuation re-evaluation" and "fund reallocation."
At the beginning of the year, fears over Trump's tariff policies caused a global market sell-off, and the Nikkei's price-to-earnings ratio (P/E) briefly dropped to 12, making it the cheapest among major international markets. Subsequently, investors realized that their pessimistic expectations had been overdone, and the P/E ratio gradually rebounded to around 13, which became the true engine of the rebound.
Meanwhile, overseas funds are reallocating assets, increasingly reducing holdings of U.S. stocks and shifting towards Japanese stocks. Due to its relatively cheap valuation, the Japanese stock market naturally became a new destination for international hot money. But this is not a pure technical rebound—it is driven by the efforts of the Tokyo Stock Exchange.

Recently, the RMB has fallen below the psychological threshold of 7 against the US dollar, attracting investor attention. The factors driving the RMB appreciation include a weak US dollar, proactive guidance from the People's Bank of China to raise the exchange rate, and the year-end exchange settlement effect. Experts believe that RMB appreciation helps enhance the attractiveness of the capital market. Forecasts indicate that by 2026, the RMB may continue to appreciate, which will have a significant impact on investors and trading companies concerned with exchange rate fluctuations.

The NT dollar to Japanese Yen exchange rate has reached 4.85, and many people plan to exchange their yen before going abroad. But did you know? Exchanging 50,000 NT dollars using the wrong method could cost you an extra 1,500 yuan, enough to buy several cups of bubble tea.
We have compiled the latest Japanese Yen exchange guide for you, including a comparison of the actual costs of four withdrawal channels, and an often overlooked but very important question—how much cash can you legally carry when traveling abroad.
Why is it worth exchanging for Japanese Yen? Not just for travel and leisure
When it comes to foreign currencies, Taiwanese people usually prefer Japanese Yen. The reasons behind this go far beyond simply "liking to visit Japan."
Travel, purchasing on behalf, studying abroad—everyday expenses
When traveling to Tokyo, Osaka, or Hokkaido in Japan, many small shops, convenience stores, and restaurants only accept cash, with credit card penetration at only 60%. People who enjoy buying Japanese cosmetics, clothing, or anime merchandise often need to pay directly in yen to Japanese purchasing agents or online.

Foreign exchange trading is an investment activity that involves exchanging one currency for another. The market has an average daily trading volume of $6.6 trillion, with high liquidity and 24/7 availability. It offers low costs, high leverage, and flexible trading, making it attractive to investors worldwide, but risks must be carefully managed. The forex market operates transparently and is suitable for all types of traders.

Recently, the copper market has performed strongly, with London Copper and New York Copper both reaching record highs. Tight supply and increased demand are jointly driving up copper prices. Institutions like JPMorgan Chase predict that copper prices will continue to rise, mainly due to limited supply and strong US demand. Investors should pay attention to factors such as global copper mine resumption, US policies, and exchange rate fluctuations.

As the global economy remains unstable in 2024–2025, the enthusiasm for gold investment is rising, with gold prices approaching a historical high in October. The article analyzes the reasons for the gold price increase, including the safe-haven demand triggered by tariff policies, expectations of interest rate cuts and the US dollar trend, central banks increasing their gold holdings, and global debt and geopolitical risks. Experts are optimistic about the long-term outlook for gold prices, and investors should develop strategies based on their own backgrounds and pay attention to risk management.

Gold is renowned as a "hard currency," capable of resisting inflation and diversifying risk. Compared to traditional gold investments, gold ETFs democratize gold investing through modern fund models, offering flexible trading and low costs, making them the preferred choice for an increasing number of investors. This article will delve into the types of gold ETFs, their investment advantages, and compare high-quality options in the Taiwan and US stock markets.
What exactly are gold ETFs? An in-depth analysis of the three main types
Gold ETFs are exchange-traded fund products that track gold price movements. Due to the relatively stable price of gold, their volatility is usually lower than that of stock ETFs, making them a relatively stable asset allocation tool.
Depending on the underlying assets they track, gold ETFs are mainly divided into three types:
Physical Gold ETFs: Directly hold physical gold, stored by professional custodians, with investors indirectly owning the corresponding gold in shares. Typical representatives include GLD (SPDR Gold

The article discusses how differences in trading unit sizes across various countries' stock markets impact investment costs. The US stock market trades by individual shares, with low thresholds and high flexibility; the Taiwan stock market uses lots, requiring the purchase of 1000 shares, generally incurring higher costs; the Hong Kong stock market trades by hands, with the number of shares depending on the stock price. Understanding these differences is crucial for investors to choose the market that suits them best.

What is a US ADR? Core Concepts Explained
The American Depositary Receipt (ADR) is a bridge for foreign companies to list on the US stock market. In simple terms, when overseas companies want to enter the US stock market, they convert their shares into ADRs through a US depositary bank, allowing US investors to buy and sell foreign company shares as if they were domestic stocks.
For example, TSMC is listed in Taiwan with the code 2330, but its ADR issued in the US market is TSM.US, traded on the New York Stock Exchange. Investors do not need to open a Taiwan securities account; they can participate directly through US stock brokers.
Why do companies and investors need ADRs?
For companies: Issuing ADRs in the US is simpler and less costly than a direct listing. Many companies already listed in their home countries prefer to avoid the complexities of a secondary listing.

Disposal stocks refer to stocks with abnormal trading activity, where trading is restricted, including extended matching times and prohibitions on margin trading. The investment value of disposal stocks depends on fundamentals and market expectations. Caution is advised when buying and selling, and investors should understand the associated risks and opportunities. Additionally, it is important to distinguish between attention stocks and warning stocks, and investors should make informed decisions based on company research.

After-hours trading in the US stock market offers additional opportunities, but it also carries risks such as insufficient liquidity, wider spreads, and institutional advantages. Investors should understand the trading rules before participating, avoid frequent short-term trading and blindly following institutional trends to reduce costs and risks. After-hours trading is suitable as a supplementary risk management tool rather than a primary daily trading method.

Have you ever encountered such a strange stock — just soaring limit-up one moment, then suddenly impossible to buy? Trading suddenly slows to a crawl, and margin financing is cut off, as if cursed with a tight spell. This is the legendary "disposed stock," colloquially called the "prison stock" by investors.
So the question is: why are stocks "locked up"? Are stocks that are locked still worth investing in? Is there really no chance for a comeback in the future?
Why do stocks suddenly face trading restrictions? The true nature of disposed stocks
When a stock exhibits abnormal trading behavior in a short period — such as a gain exceeding 100%, a surge in turnover rate, or a spike in trading volume — the Taiwan Stock Exchange will pay "special attention" to it, eventually listing it as a disposed stock. The purpose of this mechanism is straightforward: by making trading more difficult, it cools down an overheated market and prompts investors to pause and reconsider.
According to the rules of the Taiwan Stock Exchange, abnormal stocks are usually first classified as "watch stocks" (trading temporarily halted).

The main reason stocks are classified as disposal stocks is due to abnormal trading phenomena, including trading restrictions such as slowed transaction speeds and inability to margin or short sell. Investors should evaluate the value of disposal stocks based on fundamental analysis and main capital flow trends to determine whether to intervene. For short-term traders, the risks are higher, but for long-term investors, it can be seen as a low-cost entry opportunity. The final decision should be based on the company's quality and prospects rather than trading restrictions.

The market has experienced a rollercoaster of emotions at the end of the year. From the collective rally in precious metals, to the pressure and correction in crypto assets, and then to the intensive global central bank meetings, it’s likely that no one will be able to sleep peacefully this week.
Gold, Silver, and Platinum triple surge to over a decade high
The rally in precious metals has been truly fierce. Gold has risen for five consecutive days, reaching $4,348 per ounce, a 1.13% increase. Silver’s performance is even more aggressive, jumping over 3% to $63.71 per ounce. The most eye-catching is platinum — this overlooked precious metal suddenly gained momentum, breaking the $1,800 per ounce mark for the first time, hitting the highest level since the 2008 financial crisis.
Analysts at UBS Group pointed out that the market may be seriously underestimating the probability of the Federal Reserve cutting interest rates in January. In other words, the market is betting that the Fed will change its policy pace, which is the real logic behind the surge in safe-haven assets.
US stock futures inch higher