Pre market thoughts - 16 Jul 26

Bloodied morning again in Asia as the KOSPI come to terms with the memory sell off in $MU and $SNDK in NY time. $SKHYNIX was down 12%, retracing its previous bounce off the 1.7m KRW levels.
The surprising mover was $285A however, down 15%. This is a much more significant move than $SKHYNIX.
$TSMC also reported earnings, strong beats across with EPS at 4.3 vs 3.77 and a beat in revenues as well. However, during the last earnings, TSMC also reported breakout earnings but tanked about 5% from 385 to 360s.
As we near big tech earnings, i would expect memory to start performing again. However, $SNDK has approached the 1,500 area multiple times. While i have bidded that level multiple times, i may not this time. Out of caution, for $SNDK, i would see the 1200-1300s area as good value.
For $MU, 750s-800 offer exceptional value and i would bid that strongly.
Again, for buying dips - please dont take leverage otherwise if the dip gets dippier...you are suddenly not 2x lev but 3x lev. Much money has been lost from that.
Good luck!