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SanDisk Corp. Message Board

  • culcuhain culcuhain May 12, 2010 9:44 PM Flag

    Nightly SNDK T n A for 5/13/10 trading:


    SNDK had a great run today not once hitting the pivot point at 41.75. It traded mostly above the first resistance point of 43.53. Give a great big shout out to JM for his call last night and today for this target.

    Surprisingly, she closed 44.06 oversold at the end of the day using the 1 minute and 5 minute RSI as well as standard MACD. I must caution you that the trade executed at 4:07 was the main culprit for the oversold condition. I'm really not sure what to make of this and suspect SNDK may open gap down in the 42.80 range. Not sure if this heads down or up since from there as she's hitting a major resistance at the year's high. My instincts are screaming gap down and then up to new highs - but let's be logical for a moment without to much overthought.

    The general market has been running up nicely but still well below previous highs. Does the eu-phoria continue the recovery or are we bracing for more news?

    If up, let's examine the pivot points and the renewed uptrend starting since last Friday keeping in mind intraday MACD and linear regression.

    R2 = 45.95
    R1 = 45.00
    PP = 43.46
    S1 = 42.51
    S2 = 40.97

    linear regression top line = 45.50
    linear regression bottom line = 42.83

    andrews top tine = 47.30
    andrews middle tine = 43.01
    andrews bottom tine = 38.72

    Let's say this gaps down at pivot point and starts heading UP. we're off to the races towards 45+.
    DOWN heading towards S1...wait for the dip to settle and set a buy in the 42.50 range with tight stops. Settle back toward 43-44 range eod.

    market sentiment goes sour : prepare for trading between 42-43. I highly doubt she breaches lower than 42.

    If this opens at today's close on positive market sentiment, well, you know the drill, close your eyes and swallow the red pill - or the blue pill - and be prepared to enter the rabbit hole.

    This concludes the nightly presentation of tomorrow's predictions:

    disclosure: all old and long positions intact, all trading positions closed and booked. no new positions entered.

    This topic is deleted.
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