This post was just published on ZYX Buy Change Alert.
CREE reported earnings below the consensus but in line with our expectations. This is always a volatile stock, but it is now going to be even more volatile as tax loss selling ensues.
The Plan
The plan is to take advantage of tax loss selling. The new buy zone is wide due to potential high volatility. Consider accumulating up to 60% in the zone $22.31 to $29.36. Much of the accumulation should take place under $26.37. Very long term target remains $65 to $75.
Caution: This is a high risk high reward situation. For this reason, please carefully assess your abilities to handle the risk. If you are not able to handle the risk that is commensurate with the potential rewards here, consider accumulating only a very small quantity consistent with your risk level.
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