3SOF

The big volume spike of 4.57 million shares on 5/22 that started the current downtrend has now been exceeded and we are only halfway through the trading session    4.61 million shares as of 11:44 am...

Great results..great CC, great prospects..great company

GIGM still looking strong.  Moving up in this relentless market is a strong statement for GIGM's strength.  Also had a close back above the 200 SMA.  Volume was less than half of yesterday's but it was still much above average.   May have some resistance near 13.

GIGM rose 4.4% yesterday, even though the S&P 500 fell 1.4%. This relative strength is a sign that investors believe GIGM can grow immensely even while they also believe the US may enter an economic recession in early 2008.

Anyway, the stock just recovered from the phase 2 decline marked on the chart, which was a complete non-sense, so investors not always know what they're doing. They were also wrong when selling after Q1 results and Q2 guidance misleading reports, so GIGM should at least recover towards $16 ASAP.

Beyond this recovery, there will be the future. And that couldn't be more promising than the one we have for GIGM, as you can read at my latest update or listening to the 2nd quarter earnings conference call.

Outstanding la-onda !
Great work you do here @ 3SOF...
Applaud !!!  You deserve a much larger Rating.......
Submitted with great respect !

thanks setravis, unfortunately my portfolio was hit hard (FRPT & VPHM & VPHM call options & MKRS).
There is still so much space to improve my trading.....

but hopefully we will keep up our good work to beat the Market in 2007 

cheers from Singapore 
Oliver

la-onda, applaud - you sure do help to keep the site alive!

GIGM has made a comeback into the nice ascending long-term channel after being in detention room for a short while. 

My chart has different lines from berloga's, but we're both bullish on GIGM. On my chart the stock closed above its short term descending trendline but still couldn't close above the "key" $12.82 horizontal resistance level. Maybe today?

We'll see.

Fundamentally there's good visibility in the existing business and enormous potential in the pipeline.

I believe GIGM will close 2007 above $18.

Nothing new for GIGM today, I guess that technically the stock came off a bit to test its new support, prior resistance, given by the short term descending trendline.

A close above $12.82 would put the chart in line with the fundamental landscape. I expect this to happen briefly.

FunTown and T2CN had a remarkable improvement in Q2:



GIGM's management really knows how to integrate and grow a new business.

I'll keep holding GIGM.

La Onda  I agree, great fundi's
but i am short here at 12.30 with a stop around 13 on big vol and a target of 11 to fill the gap
the 50ma proving resistence and the markets are not sure if they want to get back to raly mode.
a short technical play for me.  Will be watching GIGM when markets stabilize and trend again (been in and out of gigm since 4.80, bummer is more out than in
Cheers joe
SWIM and WIND I feel also will fill gaps prior to the up trend... we will see

If the market stays on track I also believe GIGM will start running.
Today I increased my position

I issued a buy alert earlier this week on GIGM saying we should try to buy some shares on a pullback near the 200ma or around 12.45 for a solid entry. As my "crystal ball" enlightens me of buy points, i used my jedi mind powers from the depths of mount doom to force price to dip to a low of 12.40 during todays session to give a chance to buy before a rally followed to end the day up 2.85% closing at 12.98 , i filled a position as stated 12.45 From a technical analysis standpoint this chart pattern is looking great as the 3 month down trend has been broken sparked by a bullish earnings call and now as of todays close price broke out of a bullish pennant continuation pattern suggesting further trending in favor of the bulls.



Fundamentally as of todays closing price GIGM is looking very attractive and undervalued. Currently GIGM is trading at just 24x earnings while the industry is set at 33x earnings, along with a low forwards PE of just 15.09x GIGM has much room to run into the future to catch up with its growth in revenues and income. GIGM expects to report EPS of .86 for 2008 giving them a fair value price for 08′ of [.86eps X 33x industry average PE = 28.91 aka 122% gain from todays close] making GIGM look dirt cheap at these prices. I'm issuing a "STRONG BUY" with a short term price target of $15-$16/share.

just fyi: GIGM: Short Interest DN 7.7% to 3.8M in Aug 2007
Friday , August 24, 2007 16:17ET

According to new short interest data from NASDAQ, short interest for GigaMedia Limited (NasdaqNM: GIGM) DECREASED 7.7% to 3,811,595 shares for the month ended mid-August, 2007.

SYMBOL      JULY          AUGUST          CHANGE       %CHANGE      DAYS/COVER
--------   -------------   -------------   -------------  ------------  ----------
GIGM           4,129,487       3,811,595        -317,892        -7.70%           3

Based on GIGM's 20-day average daily share volume of 1,778,200, it would require approximately 3 day(s) of buying to cover this short interest

&

GIGM: Jumps +2.93%; Vol +73%; Last 90 Min of Trading
Friday , August 24, 2007 16:22ET

During the last 90 minutes of today's session, shares of GigaMedia Limited (NasdaqNM: GIGM) demonstrated a strong UPWARD close relative to its 13:30 ET statistics. "Strong Closers" are determined by proprietary Knobias calculations performed during the last segment of each trading day.

sym: GIGM      @13:30 ET        @CLOSE      % CHANGE
----------   -----------   -----------  ------------
PRICE             $12.61        $12.98        +2.93%
VOLUME         364,700       631,500      +73.16%
#TRADES         1,227         2,085       +69.93%
DAY-HI            $12.70        $12.98       LATE-HI
DAY-LO            $12.38        $12.38           N/A

chart:

Excellent!

Today, while not a huge % up day, in my opinion was a great victory for GIGM again.  As I see it, here a few positives about today's action.

1)  Touched the 200 sma which again acted as support, bounced and closed at the high of the day.
2)  While volume was not huge on the daily chart, it did increase significantly in the last 45 minutes as it broke out of the intraday chart.  See 5 min chart below.
3)  Appears to be breaking out of a week and a half consolidation period.
4)  Nearly breaking through the high twelve resistance area from late June/early July.  See daily chart below.

I'm looking forward to this week.  I think we'll see more gains.