I tend to focus on the macro trends that are longer term. $40 was simply a yard marker on the way to a much greater "goal line". Each time I've traded a portion of SLW away, I've watched the price rise still further. Those that short must live their lives in front of their computers fearful that their losses might be unmanageable. I like to find a few 'good things' and await that longer term macro trend to bring the prize to me.
I admire your patience,but I hate to see hard-won profits evaporate. Just checked a list of my SLW sales in last 5 mos. of 2012. I managed many sales at over $40, the best being at 41.56.
I traded all thru the decline.and fared better than if I had sat tight.
On Jan 2,yesterday, I sold out very close to the high at about 10 minutes into the open.
THE PRE-MARKET FIGURES WERE WAY ABOVE THE UPPER BOLLINGER BANDS AND SLW WAS DUE FOR A FALL. Besides,I did not agree that one tiny step forward was worth that heavy a rally
If you ever decide to trade,I recommend using a 5-day chart with a 5-day SMA. Just trade in the DIRECTION of that line. Backtest it and it is as dependable as any TA I know of. I use 5 other Indicators to confirm my decision.