The question for traders is…

The markets were down and down big to open the day. But the selling pressure lifted almost immediately and the Nasdaq even got itself green for a bit here.

Sandisk tried to get back through $40, but got slapped down at $39.99.  I’ve got a lot of that one as you know, including calls that are kicking in nowadays that we’ve gotten some legs back in this one.  The question for traders is whether this market can sustain some of this up momentum for more than a few days.  I’m continuing to bet that there’s more upside potential than downside risk, and we’ve worked long and hard to set this portfolio up as it is.  I might do a little nibbling here and there on weakness, but haven’t yet this morning despite that ugly open.

I’ll list my positions in the next post, by the way.