NEW YORK (TheStreet) -- TheStreet's Jim Cramer sat down with Nicole Urken, "Mad Money" research director, to talk about Cree (CREE).

Cree, which Urken and Cramer liked back in 2010, did not pan out very well. When the company was producing backlighting for computer monitors, its margins came under increasing pressure from a commoditized market.

However, according to Cramer, now that Cree is in light bulbs and fixtures, it's a whole new ball game. "These are always football," he said, "meaning a guy likes it, a guy hates it." But he disagrees with the negative analysts covering the stock.

"They'll continue to grow their higher margin business," Urken added, referring to Cree. "On a pullback it might be interesting," she concluded.

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-- Written by Bret Kenwell in New York.

Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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