UBS upgrade on speculation NAND market over supply will clear "IF" Apple uses NAND in iPod laptops. SNDK does not supply NAND directly to Apple. In fact they are a competitor in mp3 player market. UBS is the same company that had a recent buy rating on NEW. Now there was a good short! SNDK is very volatile. You have to give it room to move and time to play out. If you cannot stand the heat, stay out of the kitchen. If NAND gets cheap enough it will stabilize. There will be more used in more applications. Give it 12-18 months to do that. It takes time for the engineers to react, design, and produce new product. 12-18 months from now SNDK could be under 25. Hang in there.
You're right about that. I wasn't going to disclose, but may as well. Toward the close I bought a few SNDK 37.5 puts at a pretty bad price considering where they were trading earlier in the day. (I paid 0.65). I'm convinced that SNDK is about to head south, but I got f*ed today, especially by covering. I'm taking yet another stab at this one. But this time, I'm willing to see it through. It either pays off or I lose 100% of initial. :eek: