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SNDK is up green today first, but chances are the biggest upside will still fail to break above 1950—i.e., Thursday’s high.
Notes:
1) The behavior of short-term longs when it pushed higher yesterday
2) The shorts are still there
3) The possibility of a dead-cat bounce hasn’t been completely ruled out; we’ll keep watching for a pullback next week. I’ve already sold a call spread
4) As long as Thursday’s gap hasn’t been broken down, 1500 remains the short-term bottom
That’s my view.