CREE - WHEEEE! What a wild ride today. I was out before earnings, as these folks have a habit of missing. Well, they beat on EPS, but missed slightly on revenues. But, guided higher for next Q. So, like I said, what a ride. Massive sell-off at the open. Down over 10%. Minor comeback mid morning, then equally massive buying in the afternoon to close UP nearly 4%. Range 22.73 to 27.58 (bad print showing 27.99). That's what I call a STRONG recovery. Over 14M short (18% float). I would expect some covered during the sell-off, but it is a reg SHO stock, so the naked shorts may actually added. Back in today at $25, looking to add at 30 should it get there.
To: Topdown President & Chief Executive NCHAH (North Carolina Homegrown Association of Homeowners) Dear Sir- I have taken careful look at Cree's chart and I'm not so enamored in the 6 month view. those fishtails down of late, I appreciate the high volume comebacks but I fear they are pointing the way to $22. Yours Truly. Salvador Ignoramus PS: Could you post a full NC Homegrown list for those of us who have been basking in the sun too much? Thank You In Advance.
Stoney - The stocks I am tracking in my "Homegrown" portfolio are: CREE, VFC, LH, LOW, PEC, KKD, RAI & MO - All of these are NC "home office" based (or were in the case of MO). I also am tracking DELL and FDX in this portfolio as both are doing (FDX) or have recently completed (DELL) major expansions locally. Of these companies, the only current positions I have are in CREE (nibbled some on the major fall-out on Wednesday - only a small position). I had a very good day yesterday to close out a very good week. Sitting on the sidelines in mostly cash, waiting for the market to settle down. Of the above, PEC is looking most compelling to me at these levels. Small cap powerline services company - fallen hard from recent highs of 24 to the 18 / 19 range. Construction here in NC has not really slowed, and these guys are also a big player in storm services in the S.E. It's floating along it's 200 day and I would expect a jump at the first sign of a hurricane.
PEC sounds interesting TD, do they do any out of state work? and or delivering of internet over powerline tech?> You know I slipped into that IPII thinking storms would be rolling in. So far only Hawaii is getting one. Maybe I look into papaya thatched roofing plays next. Good for you for doing well this week your investing style serves you well in these types of markets. Me, not so good. I INSIST on buying every damn day of corrections I take it upon myself to save the day like a big dope. Now I'm locked into some good ideas under water already and some other small caps I loved to much really crapped out on me. You can't stop me you can only hope to taser me I bought more crap today and I think brought the market back. Loved this line: I had a very good day yesterday to close out a very good week. Sitting on the sidelines in mostly cash, waiting for the market to settle down. That might be a LONG wait Bro!
Yea Stoney - PEC is a player up and down the coast on winter storms as well as hurricanes. My guess is they fell (along with IIPI) on the lack of storms. But I haven't given up yet, the storms are still coming. Now is the time things should be heating up in the tropics. As for my good week - Check the charts on DAKT, and PAY (both picks I have posted here). I was either good or got lucky and had them both for most of their rides. Also had a boatload of CSCO on the earnings play and played SYNA (one of your picks) for a decent gain. This choppy market, I'm practicing my scalping skills. In and out fast.
I read those damn you! You need to tweak your headline sentences it often conflicts with a certain laconic melancholy to the analysis which leaves me not pulling the trigger. If you would just promise more. sigh. Ok I've got my homework for tomorrow PEC & take a peek at DAKT (I like management there very much) peace. boy a crawler just came across the tape about the Gov being super super concerned about Pakistan now and what would happen to their bombs if Masharif goes down. he's got to pow pow with that Butrus Butrus gal ASAP if that blows up in the middle of this debt meltdown I don't want to think about what the market would do. Man how did things get so scary so quick??. My VIX is off the charts Bro and I've got to see my mother tomorrow for her B day. Talk about tense. Still smoking by the poolhouse Ben at 43? Yea Ma at least it's not Christmas in the cold when I REALLY feel stupid! My mom is way into stocks in a weird scary way doesn't really follow anything but has good skills picking stuff-- but she never sells. she's going to make me crazy about stuff that's down I know it... for me a holiday or birthday quickly becomes a scary meeting with the boss! And a battle of I told you to sell EBAY, AKAM, etc... I'm on the Humbolt now I changed up - I think it's working.... ~ stoney
GE buyout rumor. Up over 10% pre-market. 18% of float is short. Reg SHO fuckers may start feeling some pain today.
Up 10% fri too I believe!~ Here's the scoop: (CREE) Cree: Amtech says recent checks at a global component distributor confirm their view that L.E.D lighting is happening now, that the LED industry is set for some rapid growth, and that CREE, with the best product in the marketplace today, will grow faster than the overall L.E.D market. The firm says regarding the recent rumors that CREE is likely to be acquired, they believe it makes sense given the co is the last publicly traded pure-play in the market. An acquisition by GE would make strategic sense, but there are also several other potential bidders which could include: 1) component vendors; 2) South Korean OEMs; and 3) fixture makers.
That's called a $2 reversal! They are many many plays in the LED segment and one of these days when I have the time I will do a whole thread on this exciting field of tech.