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February 28, 2006
Sandisk Helps Out Semis
The Semiconductors have been lagging the Nasdaq, but Sandisk SNDK is trying to change that. The long-term trend is up, but the stock corrected sharply in Jan-Feb. A bullish engulfing formed on above average volume last week and the stock gapped higher yesterday. The gap held and the stock closed above 60 on the highest volume of the month. Not bad and this falling wedge breakout is bullish as long as the gap and February low hold. Careful, this is one volatile bugger.
Posted by Arthur B. Hill at February 28, 2006 06:39 AM