A 43% crash usually makes me look for a bounce. Not this time.
$龙虾 is down 43.2%, yet the structure still looks ugly. Longs are sitting on -$1.37M, only 14.7% are profitable, and fresh selling is more than 2x buying.
$GRIFFAIN is down 32%, but its longs are still sitting on +$535K. That’s a completely different picture.
My bet: 龙虾 sees another leg lower before any serious recovery. GRIFFAIN has the better chance of producing the first meaningful bounce.
$龙虾 is down 43.2%, yet the structure still looks ugly. Longs are sitting on -$1.37M, only 14.7% are profitable, and fresh selling is more than 2x buying.
$GRIFFAIN is down 32%, but its longs are still sitting on +$535K. That’s a completely different picture.
My bet: 龙虾 sees another leg lower before any serious recovery. GRIFFAIN has the better chance of producing the first meaningful bounce.