Yesterday, $SNDK price action was mainly defensive. In fact, funds started exiting as soon as the market opened. There were several bull traps afterward, and large players withdrew in stages. They’ve already given up defending, with selling pressure dominating into the close.

Xing Jie said yesterday to be cautious about going long. The market did recover the day before yesterday, but then plunged again. Another recovery on Friday was impossible—the timing was already too tight. On top of that, funds are continually exiting the market, and the major players won’t pay a high price to do something unnecessary.

Just before the market opened yesterday, a follower asked Xing Jie about SanDisk’s direction, so I went ahead and posted a short at the current price, specifying the direction and take-profit level, along with an analysis of the defense level.

SanDisk may not make a big move over the weekend. Overall, it’s likely to trade sideways in a range with limited volatility. There may be a move on Sunday night or Monday afternoon. As long as there’s no major negative news over the weekend, prices should rebound somewhat.

As for the market outlook, I’m broadly bearish. The main reason is that the market is skeptical of the memory sector. At this point, only earnings reports can break the impasse; the memory boom is fading. #美股存储板块跌幅扩大