Every time I see this chart, I can't help but laugh When buying the dip, the long-short ratio was 4. Now the long-short ratio is 1.7, which means most retail investors have switched from the long camp to the short camp. Most retail investors can buy at the bottom, but the ending is usually getting trapped while shorting. This shows that the market strictly follows the principle that most people are fools. Retail investors are extremely unstable and highly fickle. If we extend this interpretation, the so-called voting democracy has a higher probability of electing fools.