I can guarentee you that if you can't take a 30% hit on SSF you will eventually be wiped out anyway. You need to manage your contracts appropriately or else you are taking too much risk and guaranteed to be wiped out in the long run.
Being shaved is not so bad, getting whiplashed is the painful trade, and watching the shares go up after you have just covered is also as painful. When a share that I have bought is about to go bankrupt, I get more pleasure to see it go bankrupt than to sell the share before it does. The pain to see it go up after you sell it is more than to see it go bankrupt.