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"The market doesn't punish bad earnings—it punishes fading expectations." SanDisk just reminded everyone of that lesson in brutal fashion. I opened my short around 1337, and with the stock now trading near 1212, the position is up more than 120 points. The thesis wasn't about weak numbers. In fact, the earnings report looked almost perfect: • Revenue surged 372% year over year to $8.97 billion • EPS exploded to $39.25 • Gross margin hit a record 84.6% • Data-center revenue jumped 437% • Another $14 billion buyback was approved On paper, everything looked incredible. So why did the stock collapse from 1480 to nearly 1210? Because Wall Street doesn't price yesterday's victory—it prices tomorrow's growth. The real problem was guidance. Q1 fiscal 2027 revenue came in below expectations, profit growth is beginning to slow, and margins appear to be peaking. Suddenly, the market stopped asking, "How good was the last quarter?" and started asking, "Is this the best it gets?" That's what triggered the sell-off. How I'm managing the short My stop-loss has been moved down to 1300, locking in profits even if we see a sharp rebound. Profit-taking plan: • Close 30% between 1150–1180 • Close another 30% between 1080–1100 • Exit the remaining 40% around 1000–1020 If price rebounds into 1250–1270 on weak volume, that's a potential area to add. If buyers reclaim 1300 with strength, the bearish thesis is invalidated. Why I'm watching 1088 for longs This isn't blind bottom-fishing. The 1080–1100 zone sits near major technical support and a dense area of historical buying interest. The stock has already fallen nearly 58% from its highs, and short-term indicators are deeply oversold. More importantly, the long-term story hasn't disappeared: • AI storage demand remains strong • Analysts still see significant upside • 2026 capacity is reportedly sold out • NAND prices continue to recover If we reach 1088, I'll consider building a position gradually with limited leverage and strict risk management. The plan is simple: #DailyOrbit