$ERA The long side situation is basically falling apart: the basis was directly slammed into negative territory, and the futures market itself first set the direction to slightly bearish. Active sell orders kept pressing through buy orders; the buy side’s成交占比 (deal share) isn’t even half. Positions are shrinking in tandem, and the longs are effectively laying down their arms. Honestly, even though big accounts still have a net-long label, their positions are quietly shrinking—talking bullish, but withdrawing on the ground. Don’t force a hard接手 at this level.