My roommate saw me frowning at the screen. “What’s wrong now?”
“Nothing. Open interest in the $ICNT 24-hour contract is down 19.8%, while the price is up 17.05%. Open interest is falling and the price is rising—I’m trying to figure it out.”
“Any conclusions?”
“This rally was probably driven by short covering. Whether it can keep going depends on whether new money comes in.”
“So, did you make any money?”
“No, I just do the analysis. I’m still an intern when it comes to placing trades.”
“Nothing. Open interest in the $ICNT 24-hour contract is down 19.8%, while the price is up 17.05%. Open interest is falling and the price is rising—I’m trying to figure it out.”
“Any conclusions?”
“This rally was probably driven by short covering. Whether it can keep going depends on whether new money comes in.”
“So, did you make any money?”
“No, I just do the analysis. I’m still an intern when it comes to placing trades.”