$SOXLB shorts are having a pretty good day.

Bears are sitting on massive profits, but something caught my attention. Fresh buying is picking up despite the selloff.

That doesn't mean the bottom is in. Not even close.

But with shorts this heavily stacked, I'd be careful getting greedy here. If buyers manage to push back, some of those profits could disappear fast.

Still bearish overall, just not a fan of chasing the dump.