$SNDK 1629, Volume Spikes and a Massive Sell-Off! Smart Money Is Exiting—What Are We Waiting For?

Brothers, today’s move is pretty brutal. It dropped straight from 1826 to 1614—wiping out three days’ worth of gains in a single day. The whole session traded underwater; even the rebounds can’t even tag 1700. There’s a wave of selling pressure after another.

On the chart, there are a few things worth noting:

First, heavy-volume declines with no convincing follow-through. This doesn’t look like a normal profit-taking pullback—it looks more like capital is withdrawing systematically.

Second, sector-wide correlation. Micron is down 6.5%, and SK Hynix is down 6.5%. This isn’t just a problem specific to SanDisk (or any single company); the entire memory/storage sector is adjusting.

Third, in terms of news flow, attention has been sparked by the 13F filings from David Tepper and Renaissance. The fact that people are running is real. As for fundamentals, JPMorgan just raised its target price to 2250, and the $93.9 billion long-dated agreement is still there—but short-term sentiment can flip fast. Don’t rush to bottom-fish.

Now the question is: we haven’t seen a clear bottoming signal yet around 1614, and even a rebound can’t get back above 1700. So there’s no need to be impatient—let it play out on its own. The bottom isn’t guessed; it’s confirmed. The most important thing in trading is being able to wait.

Let’s talk in the comments about your views. If you’re unsure, be patient and wait for stabilization.👇