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To: BI*RI who wrote (3414)	8/2/2000 10:46:10 PM
From: James Hutton	Read Replies (1) \| Respond to of 10713

Whew, what a day. IMHO - and I've owned CREE for about 1 1/2 years now - CREE is going through the same market valuation adjustment that any number of other stocks have undergone, usually after earnings. For example, FDRY had over 20% sequential sales growth and forecasts the same for the next year; knock it down 40 or 50 points. Only reason is that a few other networkers - RBAK, JNPR had higher sequential growth. CMRC sales went up over 1000% and is making inroads into setting up business exchanges; has many other positives. But ARBA had more sales - forget they have a completely different business model. Knock it down 50%. GSLI was knocked down 50% (part of which was a overdone runup) for absolutely no reason. Many others. With CREE, someone decided that 10%+ sequential growth wasn't good enough for investors who only think of next week on a good day. Selling started a week or two ago and has continued unabated. Today was close to a climax. Unless there really is some bad news out there the company didn't reveal, my humble guess is that tomorrow AM will see climax selling, followed by a period of very high volatility before stock begins to rise again. But don't hope to get much over 100 for the next few months. Market now sees 60% growth not as 20% better than 50% growth, but as 15% worse than 70% growth. P.S. - CFO is a "she" Sorry to ramble

To: BI*RI who wrote (3414)	8/2/2000 10:58:00 PM
From: Pawhuska49	Read Replies (1) \| Respond to of 10713

anybody really think that something's drastically changed in the last week? No, of course not. Excellent point. After all, 16 quarters in a row of sterling reports, more orders than they know what to do with, expansion projects, growing margins, etc. etc. I feel silly now. I did my DD, I've got a looong investment horizon (until after Christmas at least). No, this stuff doesn't bother me. Unless it's true what they were saying at Yahoo. mpw@eyeswideopen.com