Monday, November 21, 2005

Sandisk is nearing a buying opportunity

If you owned any Sandisk stock today, I'm sorry.

But now is not the time to sell, you still have a few dollars back up. I wouldn't call its current position a "Bottom", that is too hard to call until you see the trading for the rest of the week. but its also a very strong possibility that it will spike above $50 in the short term ($53) within the next year. This situation makes SanDisk stock a good for a trade. I would however not buy this for a long-term investment. If you choose to buy SanDisk Corp. (SNDK), I wouldn’t consider a position unless it was under $47, preferably under $45 depending on how the market reacts this week.

Here's what the S&P analyst has to say about SanDisk:
"While this is likely to have a negative impact on average selling prices," Stice wrote in a research report, "we expect this to be somewhat offset by expanding market opportunities for flash-based technology. Also, we believe consumer demand remains relatively strong and SanDisk has an attractive market position."
He has a 1 year estimate of $55

I am not responsible for your trade decisions made or not made because of my opinion shared here. You should always do your own research before buying/selling a stock.


At 7:42 PM, Blogger Salbert said...

Bulls make money, bears make money, and hogs get slautered. I haven't been tracking SNDK lately, but I think it ran up a lot, so you shoulda rang the register.

At 11:35 AM, Blogger Investing Monkey said...

No doubt you should’ve ringed the register, but if you panicked and sold it under $50 when you had a long position that was completely idiotic. Rather today would be a good exit point since it is back above $50 ($52 last I checked at 11:30)


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