Goldman Sachs' top trader Garrett stated that the performance of the US stock market in the last two weeks of 2024 significantly deviated from his original expectations, indicating that in the first year of Trump's second term, the market will not be peaceful. Garrett warned that short positions have recently started to increase, technical factors are dominating the US stock market, market liquidity is under pressure, and awareness of risk management is strengthening (short positions are increasing while net positions are decreasing). Garrett noted that although the US stock market performed extremely quietly in the first year of Trump's first term, there are indications that the first year of his second term will be different and will not be so tranquil. Therefore, Goldman Sachs' trading department has the following suggestions: focus on equal-weighted indices rather than market cap-weighted indices; prefer mid-cap stocks over large-cap stocks; allocate some funds to Gold and use 6-month Options for market downside protection; pay attention to the volatility index VVIX, and be cautious if it exceeds 110; focus on merger targets, especially outside the USA, considering the strength of the dollar. (Brokerage China)