Why do you say that? Are you saying fundamentals don't matter? Interesting how they all sell on cue even after a good earnings report. This stock got beat up twice last year in 2013, Aug 14, and Oct 22 to be more precise. Not sure exactly what the reasons for those drops were.
They creeping(lol) this down looking to squeeze every last penny, but at the end of the day CREE still has $1.2B in cash, and no debt.
You know, thats a good question. Why do I buy stocks? You got the hedge funds, big banks, analysts, and politicians, and maybe even the SEC gaming the system. The market rigging is stacked against the small investor. I think I will stop buying stocks.
I managed to get 100 at 49.90. Was going to cancel the limit order but it went through. I will sell that 100 and buy back at a lower price if "they" want to continue to play.
On 60 Minutes they talked about the flash traders. They showed rows and rows of high speed computers and servers used to analyze what has been done, what is being done, and what will be done. Then you add the shady activities of the big banks, and pocket stuffing polititcians.
I know one thing. It is exceedingly difficult to get in at a favorable price. I would rather a buy and hold strategy if I didnt always have to fight to keep it out of the red. I bought five times today(25 at a time) and I didnt think it would go down this far. The majority of the trading action here appears to be big money working together in collusion trying to skim the bucks off small investors.
They have good numbers, big money just pushing this down so they can get in for the next leg up.
Just put in a large limit order for 49, wait for it to go for it to "charge" that price then pull the "cloth" away(cancel order), then buy a small # of shares at market at a lower price, and repeat.