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Technology Stocks : Wolf speed -- Ignore unavailable to you. Want to Upgrade?

To: donjean1 who wrote (3095)	6/29/2000 12:24:00 PM
From: MARK BARGER	Respond to of 10714

Sheeesh, does Cree look crappy lately. I own a bunch of Cree in several accts. including 1 trading acct. I sold all of my Cree in my trading acct. today right at the open. Market looks bad, Cree looks bad, I thought the market would rally after the Fed announced yesterday. I bought back 1/3 of my traders at 137, and will wait to see what happens the next week or so. Still very bullish about Cree fundamentals bought think the TA sucks. Nobody really wants to step in from of Cree's sliding price and buy it with any real conviction. Pitiful volume lately, I agree that we're at the mercy of the MM's. I remain bullish on Cree, but have no idea where we are heading short term. So what's new!? MB

To: donjean1 who wrote (3095)	6/29/2000 12:36:00 PM
From: gingersreisse	Respond to of 10714

Don't know about the short sellers, but the options cabinet is empty. The open interest in both puts and calls for July is very low for such a volatile stock. Other than the JL 160 calls with 587 contracts, and the JL 180 w/ 354 Calls, there's nothing with more than a few (under 150) contracts. I don't see the MM moving this one to cover options writers. There's not enough there to make a profit on the options. Brocade BRCD, OTOH, yes, and you can see the positions closing out as the stock moves up and down. We might have some short selling into light volume. GSR