SNDK down heavily

after earnings. IMHO this could be a turning point for the whole chip sector as most stocks out of it just went crazy the last 2 months and we are quite oversold. I see same parallels to AMD.
Buy the rumor, sell the fact.

 

My favorite short for today: FLSH. I will use a SL for this trade.

 

we are oversold?

 

Hello,

Watched SNDK keep plunging in A/H last night, when it was down around 15%, or @ $59 I picked some up just below there.

I used the SNDK Yahoo board as a sentiment indicator, the shorts were exhilarated, & the longs were gasping. Thought it would be good for a trade coming into the a.m.

Here's my post: http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=4687351&tid=sndk&sid=4687351&mid=69825

Now let's see how it goes stop slid to 60.90 here & will hold sell into the morning strength if there is any.

L8R Kelly

Take Care & God Bless!

 

You mean overbought, don't you? At least that's how I see it ..

 

I bought 1 unit under 59 AH , but it was only for a scalp

got to learn to buy and hold

 

Seth,

I slid my stops up @ the open to 61.80 then trailed the 3min bars from the open, got knocked out after the 3rd bar, stop hit @ 62.50. Had .30 risk per share, & a profit of roughly 3.55 per share, close enough for a 12R.

What do you consider a unit, 1k or less or more? TIA

Take Care & God Bless! Kelly

 

Thanks for the compliment! Hmmm, you scalped, that's what I thought I was doing , should I consider this a very short term swing trade!? LOL

L8R Kelly

 

Oh, sorry. Of course overbought. Thanks.

 

Flsh trade done. Made some bucks on it.