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xSPCX vs $XAU : Smart Money Is Betting Against Both, But Only One Is Rising Both markets are dominated by short positions, yet their behavior tells two very different stories. $SPCX continues climbing despite heavy short exposure. Most shorts are underwater, while fresh buying outweighs selling. This creates conditions for further short-covering pressure. $XAU shows the opposite. Shorts remain profitable, but recent buying is picking up, suggesting sellers may face resistance.

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