$Roundhill Memory ETF(DRAM.US)

I went out to handle some business in the evening and didn't watch the market. My hand-coded quantitative strategy executed a DRAM 20260717 call buy at 21:30. The storage sector started plummeting the second the market opened, falling so much that my strategy's high-priced order couldn't get filled. It finally executed at $4.4/contract. Then came the biggest and fastest pullback in nearly two months: in less than half an hour, my account's peak value plunged by 58%. Forget about the positive earnings from $Micron Tech(MU.US) being wiped out; it almost went back to the state it was in at the beginning of the month.

For a moment, my timeline was flooded with all sorts of 'storage has peaked' essays, 'I warned you long ago' essays, and 'already switched positions' essays from various self-proclaimed strategists. Of course, what happened next is something everyone saw.

I think the selling pressure from the pension fund rebalancing at the end of June is basically coming to an end. Despite such heavy institutional selling, the bulls, relying on almost unconditional trust, managed to pull the storage sector out of the pit again. The news these past two days is all over the place: storage capacity expansion, storage companies being sued, $Apple(AAPL.US)$Micron Tech(MU.US) personally getting into a fight, and even South Korea's World Cup exit joining the fray—all to scare you, to force you to hand over your chips.

But what you really need to think about is: has the storage sector's fundamentals changed? Has the supply-demand relationship changed? If not, then any pullback is an opportunity to get back in. I believe friends who know how to read technicals and bottom-fish had a great feast tonight. I also regret that because my strategy wasn't perfected, I ended up buying those options at a high price; otherwise, I could have enjoyed a 40% gain tonight. The road ahead is long and arduous.

In July, besides closely watching the two positive catalysts of Hynix ADR and earnings reports, I'll be paying attention to a new direction: semiconductor equipment. With South Korea strongly supporting storage capacity expansion, equipment stocks might become a new flow of capital. $Applied Materials(AMAT.US)$Lam Research(LRCX.US) have already entered my watchlist.