This song seems appropriate for a limit down open, Youtube link to song video.
I don't have any great wisdom to offer, other than the same stuff that I've been writing. Oversold can become oversold-er, cheap can become cheaper. Fast markets are not a place for position traders (or novices). For my trading style and position size, I cut losses ruthlessly, even if I think they will come back. It sometimes only takes one or two runaway losses to change the game, or take out an entire account. When I am trading poorly, I trade smaller, and take longer breaks from trading.
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