As an FYI for everyone, I closed out my position in CREE today at $22.45 for a net loss of $8,000 on the 2,000 shares I sold.

The stock traded up nicely off this week’s earnings release, which for the first time in several quarters was actually on the number Wall Street predicted.

Most companies are making their numbers these days as the analysts had them ratcheted way down.

Their forecast for the second half of the year was not too impressive in my view, and they have missed Wall Street estimates the last two quarters.

When LED bulbs really breakthrough and become disruptive technology, it will be time to revisit this stock. I’m keeping the 1,000 shares I have in my IRA just in case.

I’m sure we’ll revisit this stock again. For the time being, I prefer to be out.