Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

CREE another watch list play for a "YHOO-type" move after this pullback. A little hesitant to go for the May 25 calls but I don't think CREE will be heading much lower than 22. You might want to see where it is trading by 10:00. A rally will be off support in case of an exhaustion move down (around 22?) but if it just moves up at the open from 22.20, we might go long above 22.50 and look towards the May 25 calls towards earnings.