I am done shorting SANDISK. It was a good trade, surpassing my target of $45.
SNDK shows very strong uptrend, the stock keeps trying to go higher, but shorters kept coming back to short it. However, given the uber low market levels now, I believe a bottom is here or has already been made. I am done shorting SANDISK as the CHIP recovery is for real. More people will be using smart phones, and many more will be converting from their old phones to smart ones as more people reach the $10k per annum threshold.
This is not a buy recommendation though. I am not buying sandisk here. This is its fair value.
Disclosure: No more positions.
No comments:
Post a Comment