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LED companies are breaking ursine snouts like Ranger Smith on a moonshine-induced weekend violence binge down at Jellystone Park. PowerSecure International, Inc. [[POWR]] is another play that looks to be breaking out in sympathy. The company is actually a mini-conglomerate focused on industrial stand alone power generation, but they had already been “dipping their beak” in the LED space for a bit before making this acquisition the other day.
As you can see, they are purchasing an engineering firm that works with a lot of the Cree, Inc. [[CREE]] technology from up the road in the Triangle Region of No’th Ca’lina. I don’t know how much of the move this week is due to that Cree, Inc. [[CREE]] link, but it seems certain that this news is not hurting our acquiror, whose main business in providing emergency back-up power to stand alone facilities like supermarkets and hospitals.
Personally, I think this stock was somewhat beaten down and the LED angle is just an excuse for it to head back to previous levels. As you can see, this triangle breakout on the weekly shows that it’s headed in that direction:
You can see my targets above, but I might want to wait a second before jumping in here, after the massive two day move we’ve had. Just as an aside, I gave this pick to the gentlemen of The PPT last night. If you were non-pikerish, you could have hopped on this 10% ago. Think about it, Mr. Pennywise-Poundfoolish.
Best to you all.
PS — I see the [[HUI]] topping at $475, at least temporarily, before making a run for the old highs at $517 or so.
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Commercial refrigeration cases @ the grocery store?
http://www.efficientlights.com/
I’m skeptical ……….
Ok …. the new acquisition gets them into the utility street light biz but the Big Kahuna is house lighting and when Obama sends out vouchers to help pay for them the other guy with the MIT engineers wins ….
As I mentioned, it’s an excuse to rally back… can’t argue w. 12+% on a down day….
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Treu dat … good timing!
SLW..EXK….good action Indeud!
undonotably.
Hey Jake,
Nice post. Just wanted to say Hi. I have been busy and out of the loop. I hope you and your family are well. I read that book u recommended. Ha ha…. such the truth. Good stuff 🙂
Jake,
You got a general time frame when the baby gets to $475 (HUI)?
Depending what’s happening on this Greek business, could be less than a week, imho.
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pikerish and poundfoolish?
a tad presumptuous and condescending – no?
not feeling da love,
mrs buttons
My love is almost always condescending, but that aside, I was merely illustrating a point regaurding (sic) the gentlemen of the PPT.
There are big ideas like that floating around in there every day, and it is therefore weurth (sic) the “investment.”
Capisce?
Don’t feel bad, I still love you in a “Luuuuuke, I am yoah faaathaaah” kind of way.
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Cramer jumped on both the LED and regional banks bandwagon last night. Since he’s the perfect contrarian indicator, time to dump CREE and HBAN…
He’s usually late, but I don’t know that it’s not time to trim everything here soon.
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“breaking ursine snouts like Ranger Smith on a moonshine-induced weekend violence binge down at Jellystone Park”
that is AWESOME!!!!
I really like CDE here, looking for an entry point.
$16.62, and then 16.42, looks like. But watch that dollah, dollah bill you awl.
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Jake, I am finally, finally breakeven on that CDE now at 17.22. What does the next target level look like to you? Feel like kissing the ground here LOL! TIA
17.95, then 19.86, looks like, but I am holding for the big coyne.
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susie…I’m still in the red on my CDE position, entered back in January based on the G-man’s all in for the most epic C wave in history call. I grabbed more than I should have and have been feeling the pain watching this thing go deep into the red for months. Now about 8% down on this one.
We should jump to that 17.95’s area, if it doesn’t roll back over at these levels.
Thank you for giving me the encouragement to hold on, Jake. May I ask what the big coyne level might be?
My long term targets are in the low 40’s.
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Jayhawk,
It sure feels like we were both traveling down that same scary road that suddenly led into the abyss LOL! To tell the truth, it was only because of epic December and January portfolio gains that I had the gumption to keep holding onto these losing PM positions; I felt that since the losses were all in the first quarter (from a bad combination of buying too early and averaging down too early), the worst thing that could happen would be liquidating by end of quarter and then still having three remaining quarters to make up the losses. Mind games, I know, but at least it kept me somewhat sane and in the game LOL!
What is the G-man’s call now and what is he doing?