Bastards!  One would hope a bottom is about final unless around 48.70 is taken.  I’ve been buying anyway… Would love to see the Oppenheimer’s report.  Sounds like once again the baby’s out with the bath water… 

My last pick-up 50.15

I just bought for a trade at 50.21 with a stop extremely close by - its do or die time for SNDK, and I see potential for a sharp recovery or a very very steep sell-off. Either way, this pig is on a tight leash and I will show no mercy, not after last year.

SNDK is bang on critical support, and with a 10%+ short base - ripe for a squeeze if it can show some good numbers or get an upgrade from someone, anyone

Also ripe for a raid down 8-10% if it can’t

[quote author=“Tommo_UK”]I just bought for a trade at 50.21 with a stop extremely close by - its do or die time for SNDK, and I see potential for a sharp recovery or a very very steep sell-off. Either way, this pig is on a tight leash and I will show no mercy, not after last year.

Stopped out, and sent my small loss to the smokehouse for bacon

Still watching it though. if 49.90 can hold as a bottom it will form near-term support (live angle linking three recent bottoms). I’m not optimistic though

I’m holding, bought again @ 49.77 ...  Just hope cooler heads jump on now.  Once the bigger story plays out in NAND SNDK should be well north of $75 ...  It’s this short-term crap that boils blood.

[quote author=“Quadra”]I’m holding, bought again @ 49.77 ...  Just hope cooler heads jump on now.  Once the bigger story plays out in NAND SNDK should be well north of $75 ...  It’s this short-term crap that boils blood.

This “short-term” crap has kept the stock down for almost 18 months now.. the panic over the ASP/GB metric never seems to go away once it takes hold (its a “seasonal thing, dontchyaknow,” they always say ), and the general doom and gloom over semis, always hits SNDK really really hard. Like I said, don’t marry this stock - she’s a total bitch and will steal your wallet and stab you in the back while you sleep - as several AFB members - including me - can attest to after last year

That said I agree this should be the bottom - but SNDK’s big bottom looks lousy from behind squeezed into a tight bikini. Lets hope she turns around, or she’s going to put off all her admirers. She looks much better from the front

You crack me up Tommo

Volume has vanished, and SNDK is hovering around $50. Either this afternoon should see a really decent bounce, or set the stage for another big raid. I doubt the stock just hovers here for the rest of the day though.

Here’s a picture that needs no annotation:

[quote author=“Tommo_UK”]Here’s a picture that needs no annotation:

That’s strange because when I make the line on chart from stockcharts.com it actually shows SNDK well below it now. If it wasn’t for this I’d buy some because I believe it’s going back to 55 pre-earnings anyway.

Pethr, your chart is accurate. My chart includes an odd phantom trade that I leave in because for some weird and bizarre reason, they are often actually significant and frequently allow me to draw trendlines which hold true even when they should mean nothing.

That’s why I drew in two lines (the dashed purple ones). The higher of the two is the “correct” one. But the lower of the two includes a phantom LOD on the chart back in early June. It may be a tell as to where the stock finds support now that the uptrend from Spring is clearly broken.

There’s quite a lot of dithering going on at the moment, with an obvious short contingent trying to tip the stock over the edge very brazenly, but not managing to get enough momentum going to do so, yet. I think we’re all agreed SNDK deserves to be higher, but technically it looks like it could easily get fcuked by the bears again, and nobody will hold it if they get their claws into it again.

After getting stopped out on my day trade earlier for 30c,  I’m staying out until there’s a clear move that defines a bottom. The stock’s train-wrecked too many times for me to stay on-board living in hope, especially with everyone suddenly machine gunning it in the analyst community and the media.

log chart vs linear chart?

nice try , but no. If you use CMC’s charts (which I think you do), you’ll often see flyer/phantom trades painting the chart in the pre-market. Remarkably, when you use these to draw trendlines, they can offer uncannily accurate trading cues.

Logically, and reasonably, you shouldn’t include them. But sometimes they’ve got a hidden message in them.

A straight line on a linear chart is curved on a log chart, and vice versa. Which is the right chart to use? I would have thought log. CMC charts simply keep your 2 reference points and draws a new straight line. Superimposed lines on one chart turn into divergent lines on the other.

[quote author=“Tommo_UK”]Pethr, your chart is accurate. My chart includes an odd phantom trade that I leave in because for some weird and bizarre reason, they are often actually significant and frequently allow me to draw trendlines which hold true even when they should mean nothing.

Ahh, that’s very clever!

[quote author=“Tommo_UK”]Logically, and reasonably, you shouldn’t include them. But sometimes they’ve got a hidden message in them.

Talking of hidden clues. Sometimes at the start of a full-on program trading raid, there is an initial brief spike down the low much lower than current prices. It looks like a keying error. However, I’ve noticed that often this low seems to be the level at which the raid stops. It might be coincidence, but it could be that a target price is entered into the program and it starts by trying that price first and quickly finding the current level.