In the storage sector today, traders seem more willing to pile into longs than the price suggests.
Spot is around 0.81, down about 6% on the day, with futures volume just over 100 million. The long/short account ratio is around 3.08—longs are nearly three times shorts, while funding is slightly negative. Prices are falling, yet traders are still leaning long. With the aftereffects of Thursday’s large ETF outflows, I’d rather keep a close eye on how crowded things are than rush to invent a reversal.
$FIL
#StrategySTRC resumes issuance after more than 170 days
Spot is around 0.81, down about 6% on the day, with futures volume just over 100 million. The long/short account ratio is around 3.08—longs are nearly three times shorts, while funding is slightly negative. Prices are falling, yet traders are still leaning long. With the aftereffects of Thursday’s large ETF outflows, I’d rather keep a close eye on how crowded things are than rush to invent a reversal.
$FIL
#StrategySTRC resumes issuance after more than 170 days
