This one, the more I look at it, the more excited I get. The buy orders sitting on top are about twice as thick as the sell orders—on the spot side, the amount being bought proactively just crushes the sell side, rubbing it on the ground. This is money voting, not words voting. On the one-hour scale, we just flipped long; what’s that little pullback on the four-hour chart? The big accounts’ long/short ratio is basically maxed out—are you telling me it still has to go lower? Open interest is rising while the price hasn’t collapsed. That means someone is using the dip to pick up inventory. The shorts are still waiting for a lower level; what they’ll get is everyone else picking up the cheap stuff. You’re up on the mountaintop, blowing in the wind.
