$EVAA ’s drop this time is interesting—what’s most noteworthy is that a lot of people earlier still thought it was fairly “tough.” Put plainly, whether it’s hard or soft isn’t determined by whether it spikes a bit, but by whether, after it rallies, anyone continues to step in and buy.

I was watching the 0.9737 area myself. After the price repeatedly failed to push higher, the bears’ intent showed up. It was then battered all the way down to 0.8243. This short position is showing an unrealized profit of +302.11%, which basically gets back the waiting from earlier.

But this kind of money isn’t picked up for free. Along the way, there were a few sharp rebounds that looked like they were trying to wash the entire short out. If you had a more impatient mindset, you might get out as soon as you’ve only eaten a little. Then you’d end up missing out on the real selloff that comes later.

This time, the feeling is still the same old story: don’t get fooled by superficial strength. When there’s no one stepping in at the highs, I’d rather slow down and confirm than rush in and end up pushing someone else’s trade higher. As long as I can keep my own pace, that’s enough.

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