Nov. 15 at 12:12 PM
$GRRR
How inflow/outflow metrics actually work.
While I was encouraged by the close, the selling to the bid was predominant during yesterday's action.
These diagrams count inflow trades filled on the ask, and outflow as trades filled on the bid.
So, there was a lot of selling to.the bid, and although the price closed slightly green, people were selling, most likely due to the ER on Tuesday. They could be right or very wrong. We'll see 👀..
Honestly, I had been buy since
$15, expecting better inflows and more short covering at these low levels.
I obviously got it wrong, because while shorts had not incteased their positions, it seems they hadn't bought much to cover either, because you cover to the bid, and the inflow/outflow diagram is a good measure of that. It doesn't directly show the amount id increase or decrease in short interest, but if shorts were increasing, there would have been much mire downward pressure and a lower close.
