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1. the rmb exchange rate has “greatly appreciated”!

in september, the offshore rmb exchange rate was soaring, rising by 825 points, and soared by 2,919 points throughout the quarter. and just last night, the data from the united states did not meet expectations, and our exchange rate rose by more than 260 points!

since the fed announced the interest rate cut cycle, it has directly lowered interest rates by 50 basis points, which is beyond market expectations, and may continue to cut interest rates in the future. when the united states does this, the u.s. dollar index will naturally weaken, and the rmb exchange rate will rise accordingly. this is a good opportunity for a-shares to rebound. after all, the fed's interest rate cuts have made the u.s. dollar less strong, and the rmb will take the opportunity to appreciate. this is good for a-shares. this is good news for a shares.

2. a-shares have now risen to this level, and many people are beginning to be afraid of heights.

those who have just recovered their capital are wondering whether to cash out and leave, those who have made a little money are hesitant to stop, and those who have missed the bus are lingering at the door, worried about whether they will be the last to take over.

only those confident bulls firmly believe that this bull market has just begun. where does their confidence come from? i can't tell. i only know that this confidence is not easy to come by. now that it is here, it must be cherished.