We hold a long-term position of  800 shares with an adjusted cost basis of 14.65.  That price takes into account gains on covered writes done along the way, as well as small losses on hedges initiated at short-term tops.  Yesterday’s engineered selloff following a strong opening suggests not only that bulls are in control, but that they are inclined to use every cheap trick in the book to shake loose stock at favorable prices.  The fleeting peak on the opening bar has created an “internal” high with the potential to turbocharge the next thrust that exceeds a second, external peak at 40.24 recorded on December 13.  Until such time as that occurs, we should expect more sideways movement. ______ UPDATE:  My timing for hedging our position with eight Jan 34 puts purchased when the stock spiked to 42 exactly a month ago could not have been better; however, my timing for exiting those puts could not have been worse. Apparently, I wasn’t the only one who got suckered by SLW’s recent spike earlier this week to $40.  In retrospect, I should have advised rolling the puts into February.