The CLO market is tightly held by big players. You can imagine how exaggerated the concentration is when there are only about 700 addresses holding more than $10. The most outrageous thing is that the top 100 whales entered at a cost of only $0.4, and now their holdings have doubled.

The shorts have already been squeezed out, so now it depends on how long the bulls can hold. The main market forces have shifted, and the next trend will depend on whether these big players continue to defend the market or start to sell off. Small retail investors can only follow the trend and take a gamble; the real control over the chips always remains in the hands of these whales.