$CATI The order book has been cleaned up; the shorts are using the rebound as fuel.
Unlocked day OI: 4.09M to 3.33M; now it's holding at 3.43M. The long positions at the high end have basically been washed out, and leverage pressure is lower.
Long/short ratio is 0.78, with shorts in a better position. But in 30 days it’s up 25%, and the triple bottom hasn’t broken.
Who is shorting? Their stop-losses are the fuel for the rebound.
Unlocked day OI: 4.09M to 3.33M; now it's holding at 3.43M. The long positions at the high end have basically been washed out, and leverage pressure is lower.
Long/short ratio is 0.78, with shorts in a better position. But in 30 days it’s up 25%, and the triple bottom hasn’t broken.
Who is shorting? Their stop-losses are the fuel for the rebound.
