Have you knuckleheads seen the earnings estimates over the last 90 days - the are DECREASING, not increasing. You have already seen the short squeeze, and market has moved up on low volume. New highs are not in sight. Too many bagholders waiting to get out over $60. This is a commodity business. Commodity companies always have lower multiples, and boom/bust cyles. ALso, SNDK has a 11B market cap on 3-4 billion in sales - 3X sales for a commodity chip business - no barriers to entry. The party will end soon enough...
You know a short right now might work for a couple of dollars but I'm not even going to mess with it. I see maybe 2-3 dollars of downside and 20 dollars of upside in the next couple of months. I originally shorted at 55 when it was getting overbought and closing in on resistance.
If you don't mind, what price did you short at? Don't you think you covered too quickly? With all the bullisness (maybe just this board), I would really think the 60 call premium for Sept would be a lot higher.
The things you say make sense and there will be more big downswings in this stock but when an uptrend gets established in this stock it tends to get ridiculous. I compare it to MU over the last 10 years. Huge upmoves which lasted for some time. There will be a price to pay but probably not at this moment.
No - I won't. SNDK Estimates are dropping, consumer spending is going down, home values dropping, commodity business, need I say more? You are a bagholder SR1 - you will hold until this thing hits the $20s again - some time in the next year. You already watched it drop form almost $80 to $37 this year. Why can't you admit this is a game, you have to buy and sell --- it is all a cycle. You'll end up losing your gains. Stop acting like SNDK does not have competition - go read their 10K. Oh, and clean up your filty mouth -sheesh - shame on you.
ok this stock is definately volatile if it can go from 80 to 37 why not 58 to 100??? I think this stock could split in next year or so...But thats just my opinion..and as for the new dude in here spouting off
SR1 is a jackoff. He'd look great under the heel of my shoe but he's probably on the right side of this one. They are a bit more than a commodity business and it's hard to argue with the trend in the stock right now. Trying to pick this as the top is foolish. Might see a little pullback early in the week but get out of the way when it starts moving up again.
amherst - not picking the top, but all technical indicators point to a pullback to $54-55. I am not saying this won't go higher - but I see a lot of "going to new highs", "100 dollars" etc. This is not going to happen. Again, estimates have decreased, not increased. Have you seen the prices of flashcards and thumb drives - they are dropping. Lots of rebates on these things as well. I have SNDK UltraII 512MB for my digital camera and a 512MB minicruzer - I don't need anymore. Lots of people are buying Seagate external hard drives for computer back ups.
SR1 is a filthy-mouthed jerk