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Thursday, October 11, 2007

Sandisk (SNDK) Downgraded by Oppenheimer

Posted by Mark at 10:13 AM TweetThis
I don't have any details on this, being a fake mutual fund and all - with a research budget of $0, relying on Yahoo Finance hah, but Sandisk (SNDK) just got downgraded and the stock is down to $50, 3.5% fall this AM. This was one of the names I sold yesterday whose chart was looking poor. Again, sometimes the chart tells you the story before the fundamentals tell you the story. I feel fortunate to have gotten out - must be some glut of flash memory and pricing is being affected adversely.

I will update this entry with more info, if I find more detailed info about the specifics of the downgrade.

No position

Posted by Mark at 10:13 AM Comments (3) | Edit This Post | Create A New Post

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3 comments:

msb said...

Fortunate timing! Nice runs on some of the other big names you've chosen, though.

October 11, 2007 10:48 AM  
TraderMark said...

Yes its been a great week. I've had other times when there have been large gains in specific names throughout the portfolio but this week its been all the largest holdings at once, so its really helped the performance.

However after this huge of a run I can find very little to buy - not on valuation anyhow. Its all momentum buying now.

A cherry on the top would be a LDK clean inventory and 20% increase - I'm not being greedy am I? ;)

October 11, 2007 11:03 AM  
TraderMark said...

still kicking myself for selling YGE around $15 - I left 100% on the table and that was a top 5 holding. And I sold down McDermott, the #1 holding way too soon, if I had those 2 and at least held each for 3-4 weeks more I could of added probably 3-4% to performance off those 2 names alone. Gosh!

October 11, 2007 11:09 AM  

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