A friend asked me what was going on with the recent open interest for $JCT . I casually replied:
“The price is up 11.4% in the past 24 hours, but open interest is down 11.9%. It looks more like a rally driven by short covering. How far it can go depends on whether new money comes in.”
He then asked what he should do. I said I didn’t know either. I usually just watch for a while and decide once the market shows its hand.
#JCT
“The price is up 11.4% in the past 24 hours, but open interest is down 11.9%. It looks more like a rally driven by short covering. How far it can go depends on whether new money comes in.”
He then asked what he should do. I said I didn’t know either. I usually just watch for a while and decide once the market shows its hand.
#JCT