As a purely technical trade, it looks like SOHAF has done with the "falling knife" routine now... the volumes have dropped off dramatically, now back to almost nothing as selling has abated... and it looks like it is now set up for the "usual" in a technical correction.
Really nice dynamic pinch charts have formed on both the daily and weekly charts... both are now very fully formed, and have not yet broken... while the pace of change in the trade, reflected in the small volume we're seeing now, suggests it could easily rebound to $0.75 to $1 just on the technical factors you see in the chart.
News could easily alter that, one way or the other...
But, its looking like the market is still mostly valuing "the news" re Bolivia, and not the OTHER assets that SOHAF has...
One comment on Zero Hedge noted that the Bolivian risks were already largely priced in... which is why SOHAF was already trading down around $1 instead of trading for the $7 or $8 or more that they would have been, given the resource, if the opportunity weren't in Bolivia...
I think that's probably right...
Seems SOHAF is a decent enough technical "pinch" chart trade potential, here, if you've the stomach for trading it...
The cash and Chilean leases should give the trade some decent downside risk protection...
Shortsqueeze.com says they have only 18K short... but, including the exempt trade, it could easily be as many as 300K.
Probably would be well worth the effort, now, trying to do a quick bit of DD on the Chilean potentials...
I'd looked at them quickly when I first found SOHAF... but, there was so much more data available on the Bolivian prospects that the Chilean interest is easy to overlook...
Of course, the cash... is cash...
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