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4/28/2008

CREE Options- Out

Filed under: — OTCJournal Editor @ 10:25 am

FYI- for all those who are following the situation- I bounced out of my CREE options today with about a $1,000 profit on a $5,000 investment in 3 trading days. I am still holding the common. In short, the oversold bounce back trade worked, and I like to jump on the profits in these options when I get them quickly.

3 Comments »

  1. It is back to where I bought it. As you know, I’m a trader, but I’m holding on unless I go down 7% from right here: $24. What are your thoughts? Thanks in advance for your insight.

    Editor: Did a BLOG on this issue already. I said at $24 or less, I would re evaluate. Yesterday, I decided to hang in there for the next bump up due to the low nature of the volume on the pullback, but on the next surge to a decent level I will probably abandon this idea.  

    Comment by Lewis — 5/22/2008 @ 8:07 am

  2. http://finance.yahoo.com/q/ta?s=CREE&t=5d&l=on&z=m&q=l&p=v&a=m26-12-9&c=

    I’m loaded back up again. That sure looks like “a” bottom to me. What do you think?

    Editor: Everybody hates this stock right now, which to me is an indication to stay long. At some point, there will be some international publicity on some country or region going to LED lighting to save energy, and the stock will run back to $30. Then, in light of last quarter’s poor numbers, I might pare back. Today, CREE announced the extension of a stock buy back. Should give it a little pop. 

    Comment by Lewis — 5/15/2008 @ 6:54 am

  3. Fyi only:

    http://www.cnbc.com/id/24505524/?__source=yahoo%7Cheadline%7Cquote%7Ctext%7C&par=yahoo

    When the Cramer junkies finish selling, perhaps we can “buy, buy, buy” :)

    Editor: I saw that. They did have a relatively disappointing quarter. Looking at the bigger picture. No brokerage firms have a strong buy on this one. They range from strong sell to hold to market perform. The analysts will make it a strong buy at $35. I believe we will have our day eventually. Not too hard to hold it, as negative news doesn’t seem to knock it down right now. 

    Comment by Lewis — 5/8/2008 @ 7:12 am

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