By: Scott Redler
SNDK and many other tech stocks have had a monster run of late, which immediately gets us thinking about a possible RedDog reversal, especially as we approach resistance in the S&P.
I am looking for a three-day scalp short type trade. I entered tier one short at 43.80 with a stop at today’s high of 44.25. I will add more if SNDK were to fail later today and trade back below yesterday’s high of 42.47.
This is a calculated method to trying to find a topping type trade with very calculated risk. Also, keep eyes on AAPL. If it were to do the same we could see a nice trade in both.
