rule of thumb: when you see 'short this stock' threads on ET, that means its time to get long. Merrill, the original sell analyst, brought it back to buy. Furthermore, w/ AAPL going away from hard drive storage on ipods AND toshiba's 56nm production coming on sooner than expected, SNDK will be in much better position than before. I'm relatively neutral on this stock... own a few calls and short puts. Just not much downside left to squeeze. there must be better shorts out there than this.. ICE at 167 was a good short.
I just reopened at 39.23. It's had a nice run since 3/1, but I think it's time to give up some ground. I won't be holding for long, though. Possibly overnight, depending on market conditions at the close.
IMO, should the markets hold at these levels, or go down from here (which I'm expecting), this stock should close in negative territory. Again, just my opinion, NOT ADVICE!
this is done being a short.. last 6 months have been great for the shorts. now is the time to load up long.
You may be right. BUT the recent run (including pre-market pricing at 40.2) hardly invalidates the downtrend. Check the daily 3 month graph. Trading well-within the range one would expect. I should mention that I closed my short yesterday at 39.13 and hardly covered the transaction costs.
Someone said a while ago that the road for shorting will be bumpy and that is correct. The news of new memories are out today and the price is up to 40.20. I believe it should be time to take profit and start shorting. The fact is that there is no profit in the memory business. Big price war.
The opther point is that those who started to short recklessly at 36 range got scared and covered that helped the price to go up. If you want to go short do it in 10 steps. Like you want to short 5000 shares, short in 500 shares each. If it goes up, short another 500 and if it goes down then, cover the second part with profit and .......
this market never priced in mainstream laptop demand of transition large scale 16-32gb flash. furthermore, spot flash prices are starting to turn around. this is a commodity play, and the toshiba early 56nm production is going to increase margins unexpectedly. sndk is leaner now, etc. etc. etc. This will be a huge tech turnaround.
A bit early to make such predictions, IMO. Exactly. That's what I wrote in the first post that started this thread.