NOM After jumping to 0.002665 last night, it’s now at 0.002357—a pullback of 11.6% from the high.
In the past 25 hours, open positions have increased by 33%. In the stretch where the price dropped, the position size was what got added—long/short ratio is 2.65, with more than 70% of it on the long side.
At around 2 a.m., I copied the numbers into my notebook and checked again and again—I just couldn’t make it make sense: the people who chased at the high haven’t left; they kept adding, and the result is positions kept getting larger and larger.
I didn’t move $NOM before it broke below 0.00196—that was the spot where this leg of the rally started. How many more days do you think this batch of late-chasers can hold on?
In the past 25 hours, open positions have increased by 33%. In the stretch where the price dropped, the position size was what got added—long/short ratio is 2.65, with more than 70% of it on the long side.
At around 2 a.m., I copied the numbers into my notebook and checked again and again—I just couldn’t make it make sense: the people who chased at the high haven’t left; they kept adding, and the result is positions kept getting larger and larger.
I didn’t move $NOM before it broke below 0.00196—that was the spot where this leg of the rally started. How many more days do you think this batch of late-chasers can hold on?
