$CREE longs got the business last night after reporting earnings after the closing bell.
I patiently awaited this reaction, and am looking to initiate a long term position in the name. My price point is under $25, after missing the opportunity to buy ahead of last quarters earnings. That was my plan, but talked myself out of it.
Anyway, here’s the last two decades of price action.
Specifically, I really like the similarity between these last two declines, and bottoming action that took place there after.
Stop under neath this years lows. In fact, I don’t want to see last months low of $23.50 broken. I plan to use some calls as I am sprinkling a few LT option plays on in the LT account.
OA, love the early morning post. I got a quick question about how you’ll play this… Are you going long both common and LT calls in the long term account? Thanks for clearing this up, and congrats on absolutely crushing it lately. Well deserved and a virtual hat tip to you.
Thanks, just options on this one.
Thanks for the response OA
The cost of led lighting is coming way down and a lot more players in the game. I know fundamentals mean dick though. lol
How far out do you consider “LT Calls” ?
Usually two months out. In this instance, I went to March.
Got it! thx
Liking the looks of the financials. Bot BAC Aug 15.5 @ .02 YOLO
Grind up, grind down – thinking I should have booked some gains yesterday for things expiring this week
Bot CREE Sep 24 calls
Bot more SBUX Sept 60’s and AMAT Sep 32’s.
I requested your ban be lifted. Love your posts, hate manually approving each one.