Sold UVIH, Replaced With SNDK

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March 5, 2007

Looks like the stock is about to drop and I didn’t want to lose anymore on it. Took a 10% loss on the trade. I replaced it with calls on SNDK. I bought in the money near term calls, but I think a smart play might be October or Novembers on SNDK because the stock looks like a falling wedge. This is a powerful pattern that can lead to big gains. The wedge looks like it has about another month to move around before breaking upwards (hopefully). The wedge pattern is not an issue with my short term calls and is not the reason I picked them up. I’m just pointing out the longer term perspective on SNDK here.

SNDK Weekly Chart


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