Morning Update

SanDisk Corp. (SNDK)
The daily chart shows that SNDK has been in a wave 3 to 4 correction since the beginning of this year. Now, however, it looks as if the correction lows are being put in. So far it has held it's 200 day moving average nicely @ 52.15. Today, it appears that SNDK is trying to breakout of it's down trend channel and take out $56. The Aroon, Williams%. and PPO are still bearish, but the RSI and Stochastics have bottomed and are reversing upwards.

Walter Industries, Inc. (WLT)
This is a homebuilder stock. It is now one of the few homebuilder stocks that is not on 52 week lows. WLT is just completing it's ABC pullback and forming a nice flag. The indicators and oscillators are starting to turn bullish. It has been added to the portfolio table.

Cephalon, Inc. (CEPH)
The weekly chart shows that it is in a 6 year rectangle/slim jim. If you look at the volume you can see that CEPH has been going up on expanding volume. The current pull back is due to shareholder profit taking. I want to point out that the new support for this stock is in the $65.00 area. It should not break below it's 34 week moving average.

Sunocor Energy, Inc. (SU)
I am adding SU to the portfolio because it is in a fractal. This means that the charts on all time frames are showing the same neutral symmetrical triangle pattern. If you are a position trader you may want to buy the dips.

Zebra Technologies Corp. (ZBRA)
The weekly chart illustrates that it is in a reverse head and shoulders pattern. It has completed a wave 3 to 4 pullback without overlapping. It has also been in a slim jim consolidation since the beginning of the year. The indicators/oscillators are in a bullish trend reversal. It looks like a buy here around $45.00.