$Sandisk(SNDK.US)
After roughly three weeks of consolidation, SanDisk has once again climbed back above the 1,800 level. As much as I hate to admit it, we have to be more cautious at this point.
There wasn’t much news over the weekend, but I expect SanDisk to see a slight decline during overnight trading, followed by a partial recovery in the pre-market session. Once the market opens, however, I think it could face significant selling pressure. Whether it can recover from that will largely depend on whether investors still believe that the Silicon Valley genius was right.
I remain bullish, but I also have to acknowledge that the road ahead will not be smooth.
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