Against 800 shares of stock we hold with a 12.95 basis, we bought four November 27 puts for 1.72 as a hedge when the SLW was topping recently.  The puts are still above water, but I’ll suggest exiting them if they trade 1.62 or lower.  Meanwhile, although I identified a minor correction target at 25.16 in the chat room earlier today, the rally is within easy distance of negating it with a print above 27.00, the point ‘C’ of the bearish pattern. _______ UPDATE (10:16 a.m. EDT): SLW opened on a gap — it does so most of the time — stopping us out of the four puts at 1.48.  Imputing the 24-cent loss per contract to the cost of our stock will raise our basis by 12 cents, to 13.07.  The puts did their job and cost us little, partially insuring us against the more severe pullback that was possible from the last Hidden Pivot top.