$DASH The leverage long/short ratio doubled within half a day as it surged to the top. I won’t spare any of the lots that the whole book is betting long on. On the spot leverage side, one side was driven to nearly a hundred times; even so, the average lending debt in that half day still remained in negative territory, and the borrowing balance returned to a split down the middle. Everything is magnified purely by the ratio game—no new money has come in. The large players’ positions are locked solid on the longs; the rest are all just hauling the sedan. After they take over, not a single hand remains.