The market is a bit volatile over the past week. Hang Seng Index is down around 1,000 points. S&P500 retreats after hitting all-time high, ending the week a tad lower. For this we suffer moderately for our Tracker Fund (HKG:2800) long position, but we are still sticking on it until the options expire on 30 May.
On the US market, we exit our long gold position (NYSE: GLD) and switch to a long Nvidia (NYSE: NVDA) position as the latter breaks all-time high level.
Over the past week as the Fed FOMC minute is out, market accesses there will be high chance of rate cut this year judging from the tone of some FOMC members. We however hold our view that there will be neither cut nor raise this year as inflation would stay a tad higher than the Fed target of 2.0%, but yet not imminently high.