Monday, January 17, 2005

CREE

Sixth World posted a nice little chart of the action in CREE. The comment was made that he wouldn't be interested until it found support around 20. In the interests of showing that it takes two sides to make a market, I'll argue that it has found support at 25(where it previously made a double top), and that there is also some support at about 23.5, with a lot of price volume at that price as well. I'll even consider buying it tomorrow, if it opens above 25, with a stop just below that.

I'm trying to post an annotated chart with price by volume, but I'm having "issues." I'll try again later.

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