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Well short positions are still increasing as the non US market tries to drive the price down but somewhere someone in the US is taking the opportunity to close shorts which may or may not be disclosed after the US bell. I would expect any international business closing shorts would be doing it during the pre-US shift so I suspect this is US interests and some of it is possible PIs closing shirts in the US. So far this is in a trend of lower lows - it would be good to be in a trend of higher highs. And the company needs cash- just a question of when and how.
Tomorrow will be another day when e see if the morning shorting can drag the share price to a new lower low, only to be reboosted by the buying from the USin the afternoon. Watching this happen is a sereal eperience,
Nope ABRK only has been shorted down again by the US - even though BTC is now up mid 44000s. This was done on Tuesday as well...
Regular as clockwork - US buying
But not today by the looks of things - we just dropped below yesterdays low so they stay alive for another day - but how much more do they have to commit each day to achieve this ?
And if the shorts can,t dent the share price early doors in the way they have the last 2 days - that means only one thing this afternoon IMHO - short squeeze. That's why they are pushing hard every morning. I reckon the other hedge funds are covering into any morning falls and the pattern is set. Someone is going to get squeezed unless bad news comes along.
Yep 6 month trend now was ARBK (US) slightly above ARB and bTC recovering slightly so a good morning to buy - someone in US obviously sold out over the last 2 days - you do wonder why - maybe buying into the new elf ?
Quick portfolio check - my 3 blues are lqqs, vilx, and 3lgo ...
If you look at ARB vs ARB (Nasdaq) over the last 6 months you can see where this is going short term... Better buying at 14:30 imho ...
So I took the trouble to listen to Bloomberg and read market watch this morning - and we're waiting of the fed - and I distill their view that the fed will be more bearish than consensus. It was also interesting to hear the latest UK inflation and from what I know we will follow the fed but maybe based on our latest inflation numbers we should not... anyway - I see nothing but turbulence today. A good day to just chill out.
One observation - BCHS sold off all day -from everything like commodities eg Palladium to the NDX itself , all other assets had written off their last 5 days of gains or losses, and ARB was just about the last tree standing. The last hour in the US saw a suggestion that the fall might be over - but that is typical of a bearish move which just goes on and on surprising to the down side until someone rationalises it and its too late to benefit. Across all the assets I monitor there is now no upward - or downward - momentum. That may sound a bit like selling before the news but in reality I suspect it is about risk off across the general market. A very nasty scenario for all players in all markets with smoke and mirrors every
where - so GLA.
Crypto is by definition a lottery - so low and high are not in any way meaningful - its just rising and falling that count.
Down 20% in US since UK close...
Don't panic - US is selling - cheaper tomorrow
And here's the 7th trumpet
And here's the 6th apocalyptic trumpet blowing sweet rock n roll
Boom - 5 booms - all point to higher for longer dole queues
Boom
Boom
Boom