INTW 7.23: In one hour, it plunged from 7.85 to 7.12, and the short setup played out perfectly—now is not the time to add to your position. Move your stop loss to breakeven and wait to take half off at 7.00
$INTW #INTW
But especially at times like this, make sure to start with what not to do: in the midst of a one-hour, 4% waterfall drop, the worst thing you can do is add to your short and chase the fall—a 3% spike can happen at any moment during a sharp drop, wiping out your unrealized gains and leaving you worse off. Nor should you jump into a long near 7.12 because it “has fallen too much”; the historical low of 6.61 is still below.
Looking to go long / buy the dip?\tDon't do it\tA stock down 77% has no mercy when it bounces. Wait for the structure to stabilize before buying the dip, then reassess.
If your short orders from a few days ago didn't actually fill (check before taking action)
If neither of the 7.55 / 7.68 orders filled, or only one filled: don't chase the short at 7.23 now. Move your limit orders up to the rebound zone—7.40 (first entry) / 7.50 (add-on), with a stop loss at 7.70 (above the 15-minute SuperTrend) and targets at 7.00 / 6.80. The risk-reward ratio still meets the target at 1:2.6–1:3.8. Manage any filled portion according to the plan above; keep the two setups separate.
$INTW #INTW
But especially at times like this, make sure to start with what not to do: in the midst of a one-hour, 4% waterfall drop, the worst thing you can do is add to your short and chase the fall—a 3% spike can happen at any moment during a sharp drop, wiping out your unrealized gains and leaving you worse off. Nor should you jump into a long near 7.12 because it “has fallen too much”; the historical low of 6.61 is still below.
Looking to go long / buy the dip?\tDon't do it\tA stock down 77% has no mercy when it bounces. Wait for the structure to stabilize before buying the dip, then reassess.
If your short orders from a few days ago didn't actually fill (check before taking action)
If neither of the 7.55 / 7.68 orders filled, or only one filled: don't chase the short at 7.23 now. Move your limit orders up to the rebound zone—7.40 (first entry) / 7.50 (add-on), with a stop loss at 7.70 (above the 15-minute SuperTrend) and targets at 7.00 / 6.80. The risk-reward ratio still meets the target at 1:2.6–1:3.8. Manage any filled portion according to the plan above; keep the two setups separate.
