Shandong Gold's stock price hit a new all-time high today, sparking many investors to reflect on their past decisions. Some investors revisited their trading history: they bought in at 36 yuan on December 12 last year, at a time when almost all forum voices were bearish, with many outright saying it was "catching a falling knife." The public opinion environment was indeed under pressure back then, with various negative expectations flying around.

Interestingly, market psychology often works this way — when everyone is bearish, it’s usually the opportunity. Now that the stock price has soared, the same "bearish camp" has started to spread new risk warnings. This repeated cycle of investor sentiment precisely reflects the differing perceptions of market participants at various stages.

Many early investors have experienced moments like these: optimistic but not confident, swayed by public opinion, and ultimately taking profits too early. The key lesson behind this is how to maintain independent judgment amid the noise.