$XIAOMI-W(01810.HK) opened lower and continued to decline, dropping over 6 points. It seems the order lock-in data fell far short of institutional expectations. I said last night that the ADR trend didn't look good, and someone argued that the small volume was meaningless. I'm speechless. After playing Xiaomi for so long, don't you know how the ADR works? I even made two posts specifically about this last year, so I won't repeat it. Simply put, it reflects an emotional trend, not a 100% predictor for the next day's Hong Kong stock market, but it's usually correct. Moreover, the volume was several times higher than usual, increasing the probability. I wanted to adjust my position into bull warrants at yesterday's close. I sold but couldn't buy in time, missing it by just one second. By a twist of fate, I avoided today's crash. Now I'm going in with half to see what happens 🙂