CREE is getting pwnd today on bad earnings. It's down 18% on HUGE volume - everyone's bailing. The chart actually looked somewhat bullish on Monday - the stock had just resolved a triangle formation to the upside, powering higher about 10% last week - although on weak volume.
LESSON LEARNED: If your stock runs up 10% into earnings, it's probably a good idea to take profits. The run up shows that everyone's speculating that the earnings will be great, and if they end up being less than great, the stock will suffer.
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