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锕镪
今天最实在的一句话：期货量涨了，但持仓没跟着起来
成交量放大而持仓量温和，说明这波拉升主要是换手和空头回补，不是新杠杆堆进去的。没有新钱加杠杆的反弹，走不远，但至少说明之前的杠杆压力清了一部分。Wintermute那句话还是得拎着：几乎没有证据表明有新资金进入市场，为持久修复提供支撑。杠杆抄底的人被清了一轮又一轮，真正的现货需求没起来。这是当前最核心的问题，比任何叙事都实在。
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