Cree

stop is 5%, so it is at 50. As far as a target, I plan on holding for awhile, unless the fundamentals deteriorate. Looks like just a short-term inventory and seasonal adjustment at the moment.
 
maybe your stop will save you but with such a big gap why be so early to catch it-let it rest for a few days then the MM's will take it back up to where they can dump theirs-watch hourly for a higher low and jump in-just my thoughts-i saw it towards end of day had perfect sell signals and just glaced at it casually-came back later to check AAPL and saw this and my jaw just dropped :) all i did was copy and paste the chart. I got POT though seems to be doing ok. WLT too no bounce back on that only a one way trip

Case in point is AAPL a very widely held stock-look at the high before gap down was 348.48 gaps down over $20 they take it back up to 348.60 :) dump and its down from there
 
Quote from Larson:

Thanks for posting the chart. Possibility of high 40's are in the cards, maybe.
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Why is CREE a hot stock? What does it do? What products does it offer?
 
Chipmaker involved in LED market. They have been around for awhile and seemed to have gained some traction in the past year or two.
 
Quote from Larson:

Thanks for posting the chart. Possibility of high 40's are in the cards, maybe.
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I dont know-i just look at price action instead of trying to predict it-if the set up and opportunity is there jump on it otherwise just watch it--it has good support at the low for today around 53.15 area then 52.69 52.00

There s another chart for you-I was looking at stocks past charts to give you an idea of where to buy a gap down or up but cree has had gap downs -the 50/200 crossover is pretty powerful-maybe its one of the first stocks to crumble who knows. I d be looking for a bounce to short. In one chart you can see even though you nail the bottom pretty much on daily but its headed in wrong direction.
 

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I think you are right about giving it a few days to base. I have 1/2 postion at 52.895 and will sit tight and watch.
 
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