Last Sunday, after I posted to warn about the risks of short-term leverage, I actually gave three opportunities to exit at the time:

1. A gap-up then sell-off on Monday. Monday really opened higher—but if it didn’t go on, it’s because people thought the drop wasn’t enough yet, and they were clinging to luck.
2. On Tuesday, Samsung’s earnings report. If the report came in above expectations and triggered a pump, then this would be the second chance to run. Unfortunately, the earnings blew up.
After the market opened on Tuesday, SNDK’s biggest intraday crash was -15%. This time it dropped enough, and it also scared some people away. Selling at the lowest point was pure luck—an outcome of the combined effects of greed and emotional loss of control. This is actually inevitable, not accidental.
The good news, though, is that Tuesday’s deep V showed that the long-side “trading robots” started bottom-fishing at 1500. I also posted immediately then, pointing out an 80% probability that 1500 was the bottom for the week, and that the robot signals that followed were fairly bullish. I also bought some SNXX to bet on the bottom.
3. On Friday, the HailiSi IPO. Even though pre-market continued to fall, after the opening SNDK rebounded to a 1920 high point; strictly speaking, this was also an exit chance—and the last one from last week.

If you know there’s leverage and don’t run, that’s basically betting: betting that after the bounce it would break to new highs, betting on a 2x long to push HailiSi back to the prior high.

Next week’s CPI—if it drops hard again and produces a second “leg,” confirming a dead-cat bounce, don’t blame the market for not giving us a chance.

Of course, all of this is probabilities: win the bet and you make money; lose and you admit defeat—so be it. Don’t always think “why not both.”

As for some people being overly greedy, not controlling leverage—if a small drop comes along, having all this year’s profit wiped out is normal.

But I must emphasize: during the de-leveraging process, long-term positions should be excluded. Optimistically, I still think sndk can return to 2000, and even reach 3000+.
But that has nothing to do with short-term leverage that keeps you up at night, because they should have already quickly gone to zero in the next pullback.

Thanks, everyone.