$SOXS I nearly got wiped out at 57.14 in this move. Last month, my account balance was still in the triple digits; today, this trade helped me recover 29.92% in a single day. It’s now at 78.98, with 24-hour trading volume of $997 million—that kind of volume isn’t something retail traders can generate.

First, let me explain the losses: I got caught chasing the top in the last cycle, and my principal was cut in half. On the worst day, I just stared at my account for half an hour. So I won’t brag about today’s move—I’ll just talk numbers. The 24-hour range was 57.14 to 80.32, a 40% swing, with nearly $1 billion in turnover. What does that tell us? It means buyers were scooping it up around 57, then trading picked up near 80. It’s now at 78.98, hovering near the high but still below 80.32—a classic post-short-squeeze standoff at elevated levels.
Market sentiment is clear: people shorting SOXS got blown out today, which in turn pushed the price higher. I estimate that at least 30% of the $997 million in volume came from short-covering. But note that 80.32 is today’s firm ceiling; it failed to break through on two tests, so a short-term pullback is likely.
My trading plan: Don’t chase at the current price of 78.98. Wait for a pullback to the 74–75 range and scale in, keeping the position below 20% of my portfolio. Set a stop-loss below 71.5 (abandon the trade if it breaks below today’s VWAP). For the first take-profit, watch for a break above 80.32; if it holds, add another 10% of the position and target 85. If it fails to break 80.32 for a third time, take profits and get out. Remember, this stock has 40% volatility—if your position is too large, you won’t be able to hold it.
A little about me: I’m a veteran bagholder who’s been beaten up by the market twice. Now I only trust volume and ranges, not stories. Follow me—I’ll be the first to post in the community if anything unusual happens intraday.
One last question: Do you think 80.32 will be broken tomorrow, or will it form a double top? Place your bets in the comments. I’ll share my take before the market opens tomorrow. #Gate广场中秋团圆局