A PART OF NY » cree http://www.apartofny.com A Macro View on the minutiae Wed, 28 Jul 2010 16:45:56 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 CREE update with target http://www.apartofny.com/2010/02/cree-update-with-target/ http://www.apartofny.com/2010/02/cree-update-with-target/#comments Sun, 07 Feb 2010 16:57:42 +0000 admin http://www.apartofny.com/?p=776 In our last post on CREE we said that we considered that the stock had topped (at 64).   Now is the time to assign a target of where we think its next intermediate bottom will be.  First the chart:

CREE 02/07

CREE 02/07

Our Target is now 24.65 (with some bumps along the way).   Why 24 bucks I hear you ask.    CREE is a momentum stock.  If momentum stocks stop going up then they are sold.  Momentum traders also bought a lot of gold, oil, AIG, C, BAC, AAPL, AMZN – these have started to down causing Margin calls.   Selling begets selling.  The two major support lines are 39.45 and 24.65.  I think both need testing.

]]> http://www.apartofny.com/2010/02/cree-update-with-target/feed/ 0 Has CREE topped? http://www.apartofny.com/2010/01/has-cree-topped/ http://www.apartofny.com/2010/01/has-cree-topped/#comments Sat, 30 Jan 2010 20:28:30 +0000 admin http://www.apartofny.com/?p=585 I rarely cover Momentum stocks, due to their ridiculous parabolic moves.  I did a quick chart on CREE though and is screaming TOPPED.

Chart..

cree

cree

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