is this a horrible fold?

[jonnyd]

i dont really post much, but i do lurk quite a bit and i have learned a lot from this board..

anyway here is a hand from a Live cash game (is this the wrong forum).. $1/$2 60 min 300 max..

8 handed, i have about $140 with 99

utg limps
i raise to $11 (and im not sure but isnt this is a bit high usually? it seemed like at this table the typical pf raise.. even open raises are between $10-15.. which is weird but oh well)

CO calls, and SB calls
pot is 46
flop 8 5 2 rainbow.

SB leads 17..
utg folds
i raise 30 to 47
co folds
SB reraises 50 to 97... leaving himself with like 15

there is no way im just calling this bet.. and if i push im left with about $7

my reads on the SB have been that he is fairly passive with his monsters.. in the past he has CR me with TPTK (AK) and then check called me all the way through (i had AQ).. he is a fairly solid player, and not a goof preflop.. so i know he doesnt have any unpaired cards under T..



i think for probably 3 minutes.. and fold.
he shows 77

just how bad of a fold was this?

in retrospect, being the SB he probably would have reraised with AA-TT... i have a fairly tight table image, showing down a small amount of hands, and rarely every showing down with just top pair.. i didnt put him on a set because he would have just called my flop raise, right?

thanks for all responses
and flaming is expected.. i feel so weak tight..