$VELVET This wave of liquidation and sell-off that comes out is producing chips, not panic—big players’ long positions are held down motionless, while the follow-on orders get thrown off the train, and the direction hasn’t changed. The number of accounts surged nearly 30% in seven hours, but that incremental increase all went into short accounts; if you talk by position market value, the longs’ weight is clearly heavier, with their share still near six-tenths and thickening. The money hasn’t left—instead, they’ve added more. On the contract side, momentum is still up and acceleration hasn’t gone out; over a four-hour window, the setup is clearly a rebound rhythm. If the shorts stubbornly absorb it, they’ll just get crushed over by the big players’ longs.