The recent drop is really not surprising at all. $EWY's spike upward earlier looked like a breakout on the surface, but it was actually more like sweeping a batch of long chasers; many were tricked by that pullback.

What I really focus on is not the instant surge, but whether there is follow-through after the surge. After shorting around 198.58, the price oscillated back and forth in a short time, which was indeed grinding, but the upper level never held. Once the low liquidity was taken out, panic selling began to emerge. Something is off here, the structure has clearly changed.

Now at 183.26, this short position yields +188.31%, and the volatility range has clearly opened up. The biggest taboo at this stage is to blindly add positions after profits; profits have already been released. First, hold what you can, then use protective stops to trade for further extension.

If you're not in the trade, don't rush. The market has new scripts every day. Don't chase longs, don't chase shorts; wait for the next opportunity more comfortably.

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