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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Tom Swift who wrote (17925)	1/5/2001 11:33:36 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 19374

Hi Tom, CREE looks to be locked in a trading range now, with the lower rail of the channel at about 30, and the upper rail at about 40: askresearch.com CREE is starting to get pretty oversold, and 30 1/2 is fairly good support. askresearch.com CREE looks likely to retest support there, and would probably be a buy if it successfully tests and bounces off this support. Until then, I'd be reluctant to enter as it traded down, because a stock will always break out of a trading channel in one of two ways: up, or down. There's no way that I'm aware of to know which it will be. So CREE could trade through 30, failing at support there, and resume the downtrend which began at the beginning of March. As always, JMVHO................. WS