Bought in to Cree
July 12th, 2009
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Last week I started buying Cree (CREE: chart, web, Y!), and in typical fashion the stock dropped (along with just about every other equity) $2 after my order filled.
So, what’s a guy to do but buy more?
Fundamentally nothing changed with the company, although they are well positioned to take advantage of whatever bogus “green” legislation the Obama Administration may conjure up (i.e. trying to make light bulbs sexy again).
A technical trader may suggest that I should have waited for the pending drop in the chart, but that’s really not my style.
I’ve started adding shares in increments of 10 to set a good average price, and will continue to watch the company develop and their products mature.
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C’mon, the technical traders aren’t always right. Don’t beat yourself up. Case in point – my purchase of KND. Every technical indicator said sell. It wasn’t until the stock turned around a few days later when technical traders jumped on board. Did those same technicians call the stock market events of today and yesterday? I don’t think so.
CREE is a good company and you’ve made a good decision. You’ll end up with a very good profit. BTW, I’ve followed CREE for many years and your absolutely correct in your assessment.
While I never invested in CREE, it was through CREE that I found CTHR. I bought and sold CTHR for a small profit “way back when”. It’s a shame the company didn’t take off. IMO, Moissanite is a better jewel than a diamond, and costs MUCH less. I bought one for my wife a few years ago and she likes it better than all of her diamonds.
I guess people can’t get past the weird name or the implication of it being a “fake” diamond. It’s hard to go against the diamond faction.
haha, touche mike. there are very few rich technical traders. they’re out there, but nothing beats fundamentals and good old fashion GUT!!
Thanks Winston. I’m working on that gut.