Mark,
Here we go again. Yes and no. This is a Mr. Market issue, I think, not a Sandisk issue. The SEG thing is over. Put it to bed. I'm not unhappy with today's action so far, though I would have preferred slightly better CPI numbers. Mr. G-span could cause another sharp ripple on Thursday, if he chooses to jawbone Mr. Market down again. His last talk didn't do that, but he may not have liked that reaction. The timing is unfortunate, the day after earnings.
We needed some profit taking I think, Mr. Naz Market has been doing pretty well the past month or so. I think that, barring some very unhappy words from Uncle Alan two days hence, Mr. Market will right himself, we'll grind on and upward. If Cardin repeats his feat of last quarter, calling Sandisk earnings far better than the Street itself did, and if the Dr. H says that the manufacturing is going swimmingly in the CC, along with demand, then selling covered calls is a mistake right now. But maybe you owe me one for Netro<vbg>? I have to say, though, that I would like to see a close at or slightly above 70 today. It's still early in the day. Naz is down over a hundred, I think that there will be a comeback later on.
We'll just have to wait and see.
Best wishes,
Sam |
