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soxs soxx soxl 618 650 700 scale shorts profit

$SOXS $SOXX $SOXL SOXX might reach 618 again, maybe hit 650, possibly even 700. But in all these cases, you can scale into your shorts and still profit. The 13% drop from 618 to 535 proves that SOXX getting overextended and going parabolic can actually help shorts if you can add to your positions and wait for it to drop. It's risky to go long on something so overextended, like the 10% crash on Friday. I think buyers who pushed SOXX to $610 are still holding and unsure if they'll exit. SOXX is still about 70% overextended from its 200-day average and that needs to change. Expect more swings between 5 to 10% which are great for trading 😄

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