I've received quite a few email asking how I came up with the entry points on SanDisk with the video that appeared on TheStreet.com's video on 03/02/2010. Here's the logic behind the entry points.

To come up with these entry points you have to apply the swing point methodology I talk about everywhere to a intraday chart. The swing points work on any timeframe. You've seen it with long term, intermediate and short term charts. Here's the 5-day 10-minute chart of Sandisk. You can see how I came up with these entry points.

The reason the numbers are slightly above the two highest swing points that exhibit volume is because the stock has just shot up 12% the day before. Folks are going to jump any retrace assuming the market holds up OK which it looked likely to do. With all that support under us, the odds were good we could get an entry and and exit intraday. Here's what transpired the last two trading days since the video.

We were able to grab that first highest swing point purchase about 10 cents higher than our target. Sure enough, that was the lows of the day and we scaled out later for decent profits intraday.

Today we waited and waited to see how it would react at that highest swing point again. It sold through it on lighter volume but as the general market weakened, we held off and then took another position end of day today.

Our thought now is that we will look to buy another portion if it comes in further at the next lower swing point around $31. Now that we have flipped once, this may turn into a few day trade. If we instead get another quick pop back to the $32.75 area, we'll take profits again and look to try it one more time for the multiday trade.