Just now, this segment of short covering is essentially exposing all the prior fake strength. $SLX In the early stage, it kept wobbling at high levels; many people thought that if it didn’t drop, it meant strength. But I felt the more it churned, the more dangerous it was—because a truly strong market structure wouldn’t stay unable to break through the highs for long, and it wouldn’t have situations where every time it rises, nobody steps in to buy.

What I’m focused on is the suppression reaction around SLX after it reaches roughly 0.21150. The price made several attempts to push higher but failed each time, while the pullback speed has been getting faster and faster. This level is critical—once the bid side continues to thin out, downside room becomes easier to open. Counter-expectation selloffs often start from these kinds of details.

Now the price is at 0.11689, and the short position’s profit is already +881.62%. Once the volatility range opens up, holding feels much more comfortable. If you have positions, remember to protect your profits; partial take-profits are perfectly fine. For the remaining tail positions, you can also keep an eye on the protective level, but don’t let gains retrace too much.

Don’t get carried away in this market. If you catch it, you catch it. If you don’t, don’t chase the trade—wait for the next opportunity.

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