CONSIDER PARTIAL SELL SNDK (SANDISK)
Recently, we warned against shorting SNDK and recommended buying SNDK around $13 due to possibility of a buy out. Today Korea’s ETimes reports that Samsung may be considering buying SNDK. Our sources indicate that report is true. Moreover, it makes sense.
In keeping with our methodology to lock in profits , we recommend scaling out of 75% of the position in $17 to 19 range with a tight stop for the rest
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September 5, 2008