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Well, the inevitable happened today. In fact, all of the inevitables
happened today.
They took profit. They blew out the weak hands. They gave the
shorts an exit. The shook out the stops and then they bought
shares. The selling was panic laden and here is what I did.
I watched the volume build and roll over on itself and then I bought
2000 shares at 31.50 and 2000 more at 31.00. This was a 20% pull
back and I felt comfortable it wasn't going to totally
collapse. Also, volume dropped back at that area. The stock then
rallied back some and I sold the 4000 shares at 34 which gave me an
11,000 gain which offset in part, what is currently a 17,000 drop
from the highs. (Based on my core holding of 4K). I would say most
weak hands are out now and I'm 6K off my highs in SOLF. (Of course,
the day is not over yet either).
Bob
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