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OT: PACT..5.66..is starting to get some notice here! Another asian gaming up and comer! A small version of GIGM! I love this sector!
PP :)
lll...the PR out today by GIGM clarifys what we already knew.
http://biz.yahoo.com/prnews/061003/hktu003.html?.v=36
Making us smarter than the average simple minded investor!
Go GIGM!!!!
PP :)
lll...I can tell you exactly what happened yesterday! It was a load of sheep dung! Congress came out with the announcment they were passing the bill to ban online gaming in the USA and would take effect in 9 months. This news was taken as negative for GIGM and the stock was sold off by ill-informed investors! GIGM has NO EXPOSURE to the US online gaming industry, so it was a non-event for them. Think-Equity knew this and reiterated their "Buy" rating for GIGM yesterday. Investors with more money than sense, sold off GIGM yesterday and took out a LOT of people's stop loss orders. The stock went all the way down to $9.00 from forced selling (margin calls/stop losses).
It was a load of BULL!!!! Who cares if Congress is trying to ban online gaming in the US. They are only doing it because they haven't figured a way to TAX online gaming as yet.
GIGM is not involved AT ALL in the US gaming industry, so the stock should not have been effected one iota. But idiotic investors with more money than sense, sold it off because they are stupid!!!
Which just goes to show, just because you have a lot of money, doesn't mean you have a lot of sense! There are a lot of dumb people out there who have inherited a lot of money!
GIGM should bounce back quickly imho!
PP :)
Someone purchased 400,000 share block buy at 3:40 pm eastern today. lll...was it you???
P :)
If GIGM goes down to 11.4-11.5...I'm adding more shares! Accumlate on any small dips imho! It could make a run to $13 though, but we'll see!
PP :)
GIGM..$20.00 by Thanksgiving/Christmas!!!!! It's the MOST WONDERFUL TIME OF THE YEARRRRRRRRRRRRRR..!!!!!!! So be of GOOD CHEERRR!!!!! HEEHEE!
PP :)
OT: PACT..5.00 here..I'm buying some! Let's see what happens in coming weeks!
PP :)
GIGM..11.77..new 52 week high here! Very nice! Any surprise PR's and this one will blast off!
PP :)
lll...It is up to 11.20 in AH. I don't know what tomorrow will bring, but if news has leaked and we get a surprise PR tomorrow in premarket, then step aside for the stampede because you could get trampled!
It's the running of the BULLS..!!!!!!! LOL
PP :)
lll..I have never seen a handle consolidate this high on a cup with handle chart formation in 10 years. This handle is very very strong and that makes this chart very very bullish!
We have two BIG things working for us with this chart....
1. The right rim of the cup is higher than the left rim and...
2. The handle is consolidating at a high level on the chart. In fact it actually made a new 52 week high during the handle formation.
That is what I call BULLISH!
Go GIGM!!!!!!!
PP :)
GIGM has just broken out today to new 52 week high's! What a strong stock. That was a short and very strong handle. This is HIGHLY BULLISH for what's to come with this stock!
GIGM = STRONG BUY from here imho!!!!!!!!
Good Luck!
PP :)
I'm shocked PACT actually started moving today after I bought some this morning. That quick of a move even shocked me. We'll see if we can't get a 20% or more move out of PACT!
GIGM lost much of it's gains from yesterday. The low 11's seems to have some resistance to it. I still "think" GIGM will backfill and consolidate for just a bit here. The market was up BIG today and GIGM was down. I think it's wanting to pullback a bit imho, but then only time will tell. I'll post when I buy more fwiw! Over $20 by Christmas though imho!
Good Luck!
PP :)
lll...I'm buying some PACT tomorrow in the 5.00 area! I like the flat basing on the chart. Keep eye on it from time to time.
GIGM up or down in the short term will be $20 by Christmas imho! An easy double imho!
Good Luck!
PP :)
Whoa! GIGM getting hit today with over 5 million volume. Down over 1 point from it's high this morning..10.34 rtq...down from 11.48 this morning. The handle is starting to form here on this awesome cup formation! The perfect storm here!
PP :)
lll..GIGM hit 11.48 this morning and I sold some more. I think that's as high as she goes for now. I think it will retrace from here imho. See if I can pick some up lower in the coming weeks!
Yesterday was Nice!
PP :)
One possible reason for today's pop.......
Merrill Lynch upgraded GIGM today and hence the buying interest!
PP :)
A Great Day I must say here! My cup runneth over! Great volume and a nice move! A great technical move on no news! The chart is great here! If it moves up to 11.40 or more tomorrow, I'll take a bit more profit! It's september and the market will probably be weak this month. I'll be a buyer on pullbacks here.
PP :)
lll...Now GIGM has a strong CUP and it's a nice one too imho!EOM
PP :)
GIGM..11.00..very nice action! Taking a bit of profit here! Nice cup formation on this one!
PP :)
lll..you watching GIGM here! 10.35 rtq! There was news out today of US arrest of online sports betting ring! Could bode well of Asian gaming and GIGM!
http://biz.yahoo.com/ap/060907/online_gambling.html?.v=10
PP :)
GIGM is moving up on no news and these are the BEST type of moves! ANTICIPATION! Buy the rumor!
PP :)
lll...here's a strategy for you concerning flipping shares...
Let's say you have 1000 shares of GIGM you bought at $8.00/share. You believe the stock will move over $11.00 in time and it does. At $11.20 you sell 250 of your shares shares, thinking the stock will pullback. If it pulls back to $9.00, you can rebuy 310 shares...(60 free shares). If it pulls back to only $10 and you see it start moving back up, you can always buy back in at the $10.00 range and get a few free shares along with it. If surprise news comes out after hours and the stock gaps up to $12.00, you can still buy back 240 shares of your original 250 at the same cost. (losing 10-20 shares is no big deal). You've always got your core position. Don't sell over 50% of your positon, at any one time. Always have a nice core position. There is always time to get into a stock. These are trends, not spikes! The stock should move way UP over time, not in a matter of days. I'm talking months! You should be very happy come January imho! Good Luck!
PP :)
lll..yep..good bye 8's for GIGM! It is hard to say if this is the handle or the final leg up on the cup. I would really like to see a higher leg up on the right side of the cup and then a handle formed. This would be highly bullish if that happened. But if this is the handle, then so be it. Either way, I now don't think we will ever see the 7's again. I was hoping to load up there, but it just didn't happen. We are in the 9's now and I think it will trend up from here. I would really like to see over $11 on this leg up though and then a short consolidation, followed by some tremendous news (Mah-Joong contracts) that will easily propel GIGM into the teens and eventually twenties imho!
PP :)
2 other china gaming stocks to keep an eye on........
PACT..5.25 and
NTES..16.98
The charts on both of these look like they are at strong support imho!
PP :)
SMSI..11.00..took some profits on this one. Nice!EOM
lll....I'll let you know when I am going to add to my position. What I would really like to see is a higher peak on the right side of this cup formation. On the recent earnings release it hit 11.20 premarket, but only 10.35 during market hours. I would like it to hit 11.20 on the right side peak of the cup and then form a handle. The higher the right side of the cup peak, the stronger the breakout and trend will be.
I'm pretty sure I will be buying into GIGM next week imho!
I think a real breakout will occur in mid/late september and last into January.
I'd like to buy in the $7's and sell in the $11's and buy back in the $9's and sell in the $20's. It's all speculation though, but I like the chart and long term prospects here.
All imho!
PP :)
SMSI..9.28 here. Buying some of this one. Nice retracement this past month! Could get a bounce imho!
PP :)
GR...it's time for predictions.....
I'm always optimistic and hopeful for a recovery. I am a perpetual bull, not a bear. Better days are ahead, but when I just don't know. The company will have to come through for shareholders. But I keep in mind I am in much lower than the President of the company and that is cause for optimism and confidence. I remain.........
Paytience :)
lll...agreed! The chart will set up nicely for a great fall and winter imho!
PP :)
JP4...we are in complete and total agreement on your GIGM price analysis! Right on the money imho! GIGM..7.50 is a BUY!
Good Luck!
PP :)
GardenRose.....
you just had to bring that up, didn't you? Ugggh! I try not to look at it too much nowadays because it has been beaten down so much....46 cents now. I am still holding on though. I know the President of the company can't be too happy these days. She is down about $300,000.00 on her recent buy. Tha't gotta hurt.
I haven't given up on CHID though. All I can really say GR is this..........
******you must sing this to the melody too******.....
"I beg your pardon. I never promised you a rose garden. Along with the sunshine. There's gotta be a little rain sometime."
But take heart GR....rain always makes you appreciate the sun all the more!
Good Luck to you!
PP :)
lll...the heavy buying was in premarket when the earnings PR was released. Someone said it actually hit a high of 11.20 premarket, but I did not see that. I thought 11.00 was a possibility, but I was more inclined with a 10.5 - 10.9 high. The gap is now filled on the chart and the handle should now be formed on this chart pattern imho. It sold off all through the day. The market didn't help matters, it went red too.
I'll post when I start adding again. Maybe we can get in cheap! Hope so!
The best is yet to come imho!
Good Luck!
PP :)
It must have hit over 10.90 in premarket because I actually had some shares go off at that price. Very nice earnings and action today. In releasing great earnings in pre-market, GIGM seems to leave a gap on the chart from yesterday. I have little doubt this gap will get filled on the handle's formation (I hope). Things are looking great for GIGM!
Mahhhh-Jooooong is a comin'!!!!!!
PP :)
lll..GIGM getting some AH action today. May be an earnings news leak! Hope so! I hope traders "Chase" this one wayyyy UP tomorrow! Good Luck to us all!
PP :)
lll..you are right on all points. the earnings are out tomorrow in premarket. I think the right side of the "cup" will be filled then. The stronger the right side of the cup, the better off we are. Also what you said about the handle is true too. As the retracement happens on the handle's formation, the higher the price consolidates, the more bullish the breakout will be.
If earnings are good tomorrow, GIGM may make a run for $11 (possibly). That would be around a 16.5% pop from today's closing price.
If it retraces to $9.00 from an $11.00 high (on a handle formation), I am going to add on at that point!
This fall/winter should be very very nice imho!
You may even see price in the $20's by January, if the market cooperates!
PP :)
lll...here is a good explanation of how the cup with handle works. take a look. It's just one page of information.
http://stockcharts.com/education/ChartAnalysis/cupHandle.html
GIGM meets all the criteria for the cup with handle and the timeframes look right too.
Good Luck!
PP :)
GIGM earnings out next TUESDAY on August 8th! Reminder! Look for it to move up in anticipation of that event imho!
Good Luck!
PP :)
lll..Exactly! This cup is going to be completed by earnings imho. Target is 10.5-10.9 imho! This will form the right side of the cup. Then I expect a handle to form and then a TRUE breakout...with an AWESOME UPTREND TO ENSUE. It could move up past $20 later in the year. If we get into an ascending channel on the chart, no telling where it could be early next year! Chart looks great here! CUP WITH HANDLE forming and very bullish!
PP :)
OT: CHID News.....
http://biz.yahoo.com/iw/060718/0145391.html
CHID beginning production of Lithium ion batteries to meet demand of China's Wireless market...MP3s, Cell Phones, Digital Cameras, Camcorders, PDAs, etc.....
CHID..0.55!!
PP :)
OT: ABLE dipped to 5.75 today. I think this is the bottom on this one imho!EOM
PP :)