My cost at 117.3 fully allocated is currently trapped with a 22% drawdown. If $SOXL breaks below 115 tonight, I will cut half.

Here’s a brutal fact: over the past 24 hours, trading volume was 2,575M, with extremely high turnover, but the price crashed 20%. This isn’t retail panic—institutions are dumping and distributing. Current unrealized P/L is -22.3%. My stop-loss line is set at 114.1; if it breaks, I must execute.

My full plan has two scenarios:
1) If 115 holds and we see volume rebound back above 120, add 20%, target 125, and raise the stop-loss to 116.5;
2) If it keeps breaking down below 114, even dipping into the 110-112 range, first cut half the position, then wait for a rebound to around 117 before shorting back on the bounce.

Position management: currently 70%; after adjustment, I’ll keep it within 50% at most—no hard holding. Leveraged ETFs are not suitable for long-term holding. This drop has already eaten 6 times the downside on a 3x leveraged product; going further makes it easy to end up at zero.

Trading advice: at the current price 118, don’t blindly bottom-fish—wait for confirmation of support. Aggressive short-term traders can try a small long position at 115-116 with a stop-loss at 112; conservative traders should wait until a rebound to 120 holds firmly before entering. Take-profit: first target 125, second target 132.

Focus on the first half hour of tomorrow’s pre-market trading. If it gaps down and opens lower, immediately give up on the long. Tonight’s close signal before 11:00 is critical—if it closes below 116, tomorrow will most likely continue to “blood wash.”
Update the results in the comments—don’t let me be the only one running around naked in the casino.