I look at the simple finviz chart often to help with entry/exit prices. Look at that chart.
The late money into KLIC I believe was momo money. They have no attention span for actual investment most of the time. So the folks who have added CREE for sake of discussion lets say at that gap up around 50 in March and everything sense are gonna be underwater.
As I stated last night and today for me if I add I'm thinking it's as much about time (weeks or months) as price.
I'm just saying I see no reason based on CREE's trading history over the past year to be brave here IMO.
I see lots of reasons fo rit to bump along or slightly down for weeks/months.
This will likely bring out buyout rumors again and that may cause a short term pop. If this happens I'll likely write calls again. I'm already thinking of writing the JAN's and hoping to buy them back before they expire.