- broke it's 50 dma for the first time in 6 months on its highest volume ever
- CCI gave a sell signal on this move (fell below 0)
- stock has a huge following from momentum traders that may want to exit
- sentiment has changed, WFR was downgraded Friday, earnings did not please
- WFR is falling in the IBD 100, now 39 from 14 last week
IOTN is in play again after Cramer pumped it 25% in the after hours by speculating that a big contract is on the horizon. Um yeah, like I haven't heard that a thousand times. Monday morning might be a great opportunity to get some 7.50 puts. Just a thought.
Also, CREE formed a perfect reversal candlestick Friday on no news, in fact it was quite bizarre. But it looks ready to resume it's trip to zero.
Disclosure: I own WFR June 55 puts and CREE May 20 puts