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Okay, down to 2 hearts.

Does my item still exist for my next attack?

Yes, any pickpocketed item will last for the remainder of the stage. That unfortunately means you're stuck with that gem.

Thanks for that.... let's take this one balls to the wall!

!warriorslash

You draw your sword and perform a powerful overhead swing
slash
You completely miss the enemy leaving yourself open to attack. No invitation is needed: The enemy finishes you off quickly, and chuckles at your weak moves. Lol, you are an idiot. You loose a life point.

Dammit... I hate those loose life points.

Down to my last one... let's smash this gladiator!