WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 199.91

-8.9%

3:59 PM EST

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From: Sam Citron	1/28/2005 2:02:17 PM
	of 60323

TA and trading comments: Friday profit taking amid weak market after running up to 27.78 around 2:10 EST yesterday on short covering and enthusiasm following blow-out earnings report, just before conservative guidance was issued. Currently forming a bullish pennant with support around 25.50. After taking partial profits at 27.65, I have limit buy orders around the support area. Expecting firm close however on continued short covering. SNDK investors were given a golden opportunity on Wednesday morning to accumulate shares below 21 after weak sister LEXR missed estimates and guided lower, causing CIBC to downgrade SNDK. Lesson for investors is not to automatically assume that factors unique to one competitor in an industry apply equally to all. Traders have opportunity to take profits or go short weak sisters in the afterglow of leader's reports and to accumulate leaders when secondary companies report disappointments. This is especially important in today's difficult "stockpicker's market" environment. Sam

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