$PIXEL Big accounts have put about 80% of their positions into the long side. Overnight they’re still adding nonstop, yet the price has been grinding right along the lows all day but won’t rise and can’t bounce. My side’s direction has been nailed down long ago! The futures price is even lower than the spot by a whole head. The longs can’t even get the interest and yet they’re still hard holding. The buy-side is like it’s run out of breath—the moment they slam it down, it doesn’t even make a ripple. All the big money in the entire market is piled into the same direction, but the price just keeps lying down and falling. This isn’t bargain hunting; it’s the people in front making room for the people behind. Once the low is broken, it’s all stampede—nobody will be able to walk away unscathed.
