Variety of merchants net-short has decreased by 80.49% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
98.23% |
1.77% |
-1.62%
-29.07% |
-25.00%
-80.49% |
-2.16%
-32.23% |
Ripple: Retail dealer knowledge reveals 98.23% of merchants are net-long with the ratio of merchants lengthy to brief at 55.50 to 1. Our knowledge reveals merchants at the moment are at their most net-long Ripple since Jan 11 when Ripple traded close to 0.21. The variety of merchants net-long is 1.62% decrease than yesterday and 29.07% decrease from final week, whereas the variety of merchants net-short is 25.00% decrease than yesterday and 80.49% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests Ripple costs might proceed to fall.
Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger Ripple-bearish contrarian buying and selling bias.
