Hi J,
CREE has been a solid performer, holding its own, while the NAZ craters around it.
IMHO, we should have a decent July rally off these lows, and although I suspect the market will be choppy for a few more days, we may have reached an intermediate bottom yesterday. I'd hoped we would have more extreme readings in the sentiment indicators (VIX, TIC and TRINs), but we get what we get with the Market. <g>
Anyway, I'm looking for mid-teens ($16-$17) for CREE in July, if they can give good forward guidance again on July 30th, we may make additional gains and make PRU look good. <g>
A lot depends on the Market, however, unless CREE has some awful news on July 30th, I don't expect it to break $10 and thus the lows on CREE are in, IMHO.
A-M-S |
