CREE selling too much... Stock respresent good value under $18.50.

CREE down almost 14% on lower guidance. CREE tends to exhibit lumpy performance from qtr. to qtr. This tends to present opportunities a couple times a year to both buy it on negative news.

CREE has a very good balance sheet and longer term growth should remain solid yet somewhat unspectactular. However, even at $20-21 CREE was not priced for high current expectations.

Do a quick look at the stats link on YHOO finance shows CREE with $208mm in cash or $2.70 per share. This seems great, but a closer look at the balance sheet shows a total cash combined s/t & l/t investments of over $400mm -- or over $5 in cash and investments.

Long CREE