After the U.S. September non-farm payroll data was released, U.S. stocks continued to surge sharply, and the Taiwan stock market’s night session also climbed above 49,000. Here’s a summary of the data: 1. Job growth was far below the market expectation of 90,000, with only 29,000 new jobs added. 2. The unemployment rate rose to 4.2%. 3. Data for July and August was significantly revised downward. Following the release, long-term U.S. Treasury yields dropped substantially. Additionally, the probability of a rate hike in late October, which many feared most, has now been pressed down to just 13%. As a result, equities rallied broadly across the board. It’s been a while since I last discussed stocks—recent weeks have focused mostly on crypto. My last trade was at the end of July, when I went long 2x on Micron and SK Hynix. In mid-August, I reduced my U.S. stock positions and increased my Bitcoin allocation. I currently still hold 35% of my portfolio in U.S. stocks. If the market continues to rebound, I plan to further reduce my positions. The U.S. stock rebound has been remarkably smooth, especially in the semiconductor sector, which saw strong recoveries. Next, I’ll cover gold.