Tuesday, January 30, 2007

Earnings Roulette - Take Two

Gonna play earnings roulette again. The last one didn't work out too well, but it was a smallish position so I'll let the past stay in the past. If you want to make money, you probably want to fade my bet... ha ha.

In any case, trying once again on a flash memory company. Picked up SanDisk (SNDK) at 42.26. I've been following the company. It's traded down quite a bit mostly due to declining ASPs and general industry uncertainty. That said, I don't expect any huge downside potential even if what is reported later isn't so rosy. We'll see what happens. Depending on what we hear this afternoon, I might end up keeping part of the trading position and moving it into the long-term portfolio.

Also, the company's CEO, Eli Harari, will be appearing on CNBC after the market close.

*** Edit ***

Well, after the release the stock jumped up. Next, I went to a meeting, and I come back to see that it has now fallen 10%. Ugh. I lose... again. Bah. Not a happy camper at the moment.

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