SPCX, on this order book, the longs are only deceiving themselves—an active sell order keeps pressing down, preventing the buy orders from lifting their heads. The long-to-short ratio still can’t even touch 1; who would need to spell out who’s distributing? The price is sticking to the moving average line and inching downward; the four-hour slow bleed hasn’t stopped. With this kind of trading style, shorting may feel uncomfortable for a moment, but over a longer time frame, it’s the long side that ends up being the ones to pay the bill.