The most awkward part of the order book is this: $WMT . It clearly moved only +0.36%, yet on the perpetuals side, there are always people holding positions and not leaving.
I just switched back and forth a few times to look. Over the past 24 hours, the high and low have only been from $103.78 down to $102.53—volatility isn’t that big. But the trading volume has still reached $2.34M USDT, and open positions are 37,727 shares.
If this were purely emotional trading, the funding rate would usually be noisier.
But right now it’s only +0.0174%, which suggests the longs aren’t rushing in as a crowd. It feels more like someone is willing to hold steadily, slowly.
I actually have a bit of a favorable impression of this kind of situation.
For retail businesses, a lot of the time what’s most valuable isn’t “telling a story”—it’s stable cash flow and enough breadth of demand. When the economy is a little better, people buy. When the economy isn’t as smooth, people buy anyway.
From what I understand, Walmart is basically a very typical example of a consumption defensive stock.
You ask whether it will give you that kind of instant, day-long rush of excitement—I don’t think so.
But in an environment right now where sentiment chases AI for a while, chases rate cuts for a while, and then worries that consumption will weaken, companies that can be used by capital as a position base are actually more likely to have their valuation gradually lifted.
There’s another detail I care about.
The perpetual price is $103.08—not far from the intraday high—but there hasn’t been that kind of ridiculous premium. Stocks with a reasonable basis like this are more like they’re waiting for the US stock underlying to confirm gradually, rather than letting the derivatives start performing on their own.
That makes me more inclined to treat it as “someone getting positioned early,” not “someone blindly chasing.”
Of course, this kind of stock also has obvious drawbacks.
It’s not the type of company that can have everyone’s imagination fully sparked by a single new narrative. If the market swings back toward higher-volatility directions, then a stable stock like $WMT can easily start to look less exciting in the short term.
My stance is very straightforward.
If I had to pick a ticker in TradFi that I can hold onto—one that I don’t have to worry about the sentiment collapsing every day—I would put $WMT near the front of my watchlist. I’m slightly bullish, but I’d rather hold it slowly. I don’t want to chase the perpetual and jack up my cost.
The market is changing; what’s true today may not be true for tomorrow. $WMT #USStocks
I just switched back and forth a few times to look. Over the past 24 hours, the high and low have only been from $103.78 down to $102.53—volatility isn’t that big. But the trading volume has still reached $2.34M USDT, and open positions are 37,727 shares.
If this were purely emotional trading, the funding rate would usually be noisier.
But right now it’s only +0.0174%, which suggests the longs aren’t rushing in as a crowd. It feels more like someone is willing to hold steadily, slowly.
I actually have a bit of a favorable impression of this kind of situation.
For retail businesses, a lot of the time what’s most valuable isn’t “telling a story”—it’s stable cash flow and enough breadth of demand. When the economy is a little better, people buy. When the economy isn’t as smooth, people buy anyway.
From what I understand, Walmart is basically a very typical example of a consumption defensive stock.
You ask whether it will give you that kind of instant, day-long rush of excitement—I don’t think so.
But in an environment right now where sentiment chases AI for a while, chases rate cuts for a while, and then worries that consumption will weaken, companies that can be used by capital as a position base are actually more likely to have their valuation gradually lifted.
There’s another detail I care about.
The perpetual price is $103.08—not far from the intraday high—but there hasn’t been that kind of ridiculous premium. Stocks with a reasonable basis like this are more like they’re waiting for the US stock underlying to confirm gradually, rather than letting the derivatives start performing on their own.
That makes me more inclined to treat it as “someone getting positioned early,” not “someone blindly chasing.”
Of course, this kind of stock also has obvious drawbacks.
It’s not the type of company that can have everyone’s imagination fully sparked by a single new narrative. If the market swings back toward higher-volatility directions, then a stable stock like $WMT can easily start to look less exciting in the short term.
My stance is very straightforward.
If I had to pick a ticker in TradFi that I can hold onto—one that I don’t have to worry about the sentiment collapsing every day—I would put $WMT near the front of my watchlist. I’m slightly bullish, but I’d rather hold it slowly. I don’t want to chase the perpetual and jack up my cost.
The market is changing; what’s true today may not be true for tomorrow. $WMT #USStocks