both tenable arguments ...... i just think the markets are well overdue a sharp correction and i doubt SOLA will be immune given its strong performance over recent weeks - i.e. plenty of profits to be taken even without forced sales to meet margins elsewhere
SOLA has been remarkably strong over the lst week, though today has seen a change in fortunes ..... no obvious reason, and would only be rationalising if i suggested a slightly stronger $ or even some peeps being obliged or feeling it wise to liquidate some positions.
and i am moderately happy to be short ..... at least it's sufficiently in the money to pay for dinner for 2 at say Waterside with enough for dinner at local Indian to spare
i always include some respectable wine ...... tips are already added by these establishments! ...... in truth, have yet to have a decent (i.e. memorable or even value for money) meal at Waterside and Fat Duck I avoid ..... but that's another story
suddenly SOLA tumbles straight through 200 dma with next obvious support at 400 ...... rsi also at the upper end of its scale ..... if london and usa finish the week as bleakly as now looks very possible, then expect that level to be hit