Sndk

I bought it at $47.31


I am buying more if it goes under $44.

There is heavy support around $45.

UBS cut its rating on it from Buy to Neutral.

Do you know what happens when I've typically reacted to such analyst ratings? I've lost my ass.

Merrill Lynch had a doozy on Dow Chemical 2 months ago.

It's nearly a contrarian indicator for me.

Look at it this way: Sandisk missed earnings in 3Q and lost 22% in one day. It is down about 26% now.

Is that logical, given its balance sheet.

I could be wrong, but I'm betting no.
 
Quote from jhaski:

The stock is now down to about 45.00; I bought it at 48.00.

Do you think I should hold onto this stock? Or should I sell it to just cut my losses now?

There were just a few bad articles out today that predict an oversupply of flash memory.

Thanks
More...


We're good so far. :cool:

If it recovers 1/2 of it's post earning decline, we'll be golden.
 
SNDK has now had quite a few more bearish days--it is now down to $44.

In addition, several articles came out predicting an oversupply of flash memory and they moved their target price to $48.

Think I should wait for it to go back to 48 and then sell it, or should I sell it now and cut my losses?

Thanks
 
I sold it when it was at $47.70.

I know that's not very helpful, but I lost money on it, and it was just a bad bet.

Who knows where it will go?
 
04.21.09, 05:08 EDT

Q1 adjusted loss 48 cents/shr vs Street view 77 ct loss

* Q1 rev $659.5 mln vs Street view $535.1 mln

* Shares up 10.5 pct in extended trading.

By G. Madway

SAN FRANCISCO, April 21 (Reuters) - Flash memory maker SanDisk Corp (SNDK.O) reported better-than-expected results and expressed cautious optimism about the current quarter, sending shares up 8 percent.

The company was helped by improved pricing on NAND flash memory from the previous quarter, when it was hurt by oversupply and falling demand for consumer electronics brought on by the global economic slowdown.

"Industry fundamentals improved in the first quarter," said Chief Executive Eli Harari in a statement. "We are encouraged that industry supply and demand balance is becoming better aligned, resulting in higher flash pricing."

"Our outlook is cautiously optimistic for continued improvement in the second quarter."

...

http://www.reuters.com/article/earningsSeason/idUSN2145110720090421
 
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