SOLF - a rare Joab buy

[athlonmank8]

Quote from Joab:

Bought some SOLF calls today looking for $24 target.

join the fun it's not too late

Nice one joab

 

[S2007S]

IF I COULD HAVE SHORTED I WOULD HAVE BEEN UP $5 WORTH OF PROFITS.


$24.58.


DOWN BELOW $20 IT GOES.

 

[Joab]

Why didn't you buy puts ???

 

[gaj]

well, i held my entire position. hope the am bounce isn't too strong...

my target's 20-21 by end of week. if it doesn't act weak, however, i'll exit a chunk.

why didn't you get puts?

 

[gaj]

since i posted about the entry...got out about 10 minutes ago. just didn't like the way it was acting.

which doesn't mean it won't go down further. but my strength is shorter-term trades...

 

[S2007S]

solf nearing 22 at the moment....

 

[athlonmank8]

Quote from Joab:

Why didn't you buy puts ???

That's what I was thinking

 

[athlonmank8]

SOLF still in buy territory. Looking for any resistance break.

Any shorting should be done at a reduced size IMO.

 

[Joab]

Quote from athlonmank8:

SOLF still in buy territory. Looking for any resistance break.

Any shorting should be done at a reduced size IMO.

Agreed,

IF I had a 401 this would be a 3% position long term.

 

[riskymove]

Shorting was difficult so I bought Jan 40 Puts Wednesday afternoon at 13.1 - sold em 17.5 yesterday morning. Can't short that kind of momentum so puts are way to go.