3SOF

I will be joining the longs after we get a touch of the trendline. That might also synch up with the 50 dma soon, which would make it a doubley good place to enter. I think the stock might bounce back up to 4.50 before turning back down and making that touch, at which point the trendline would be in the high 3's or $4. Today GIGM bounced off the bottom Bollinger band, and might make a brief return to the center BB.

Buy order in at $ 3.78 here.

Vaughn, that chart looks eerily familiar

The very first job of a Trader or a Technical Analysis before entering the market is to find out which one is Stronger & which one is Weaker.. is it bulls or bears? it happens to be that bears are stronger on GIGM at this point so i decided to trade on the short side..If that's where i think that i'm going to make a quick buck, then why not?


Who buys from a trader who sells his losing long position?
It may be a short seller taking profits and covering shorts. It may be a bargain hunter who steps in because prices are "too low." That bottom-picker assumes the position of a loser who washed out- and he either catches the bottom or becomes the new loser. Trading for a Living

Who sells to a trader who buys to cover his losing short position?
It may be a savvy investor who takes profits on his long position. It also may be a top-picker who sells short because he thinks that prices are "too high." He assumes the position of a loser who covered his shorts, and only the future will tell whether he is right or wrong. Trading for a Living

Quote from: shawFund on February 07, 2006, 06:48:52 PM
To all longs of GIGM,

If many people know the stock and become too excited, it is time to exit.

Absolutely right

hi,
i don't know what all the fuss is about . if your a swing trader all the indicators were saying short after its rise to 5.60. if your an investor in the fundamentals a few days of retracement aren't really your concern. it will come back based on it's fundamentals given that it is undervalued.
good work terlisa,
maxi

Quote from: berloga on February 07, 2006, 04:15:28 PM
My portfolio is only 10% of David's and that's where taking some cream off would help, compared to his strategy.

Well that depends on which strategy you are referring to.  GIGM is in both the position portfolio and the long term portfolio, although lately the two portfolios are hardly distinguishable, hee heeee. I'm assuming you are going with the position portfolio in which case either the TL2 or the $4.50 trendline should be used.  The TL2 is behind us now, but the $4.50 support was only broken today.

What do ya say we get back on topic here  This board is for GIGM. Terlisa made a nice short trade and its in the past, it shouldn't be a topic of large debate. So i applaud you Terlisa, But what do ya say we get back to the GIGM analysis eh boys?

-fous

Yesterday, GIGM broke the neckline of a H&S top at 4.36.  3.19 is IN PLAY as long as GIGM trades below the neckline. 

3.17 is the .618 Fibonacci retracement of the rally off the 1.65 November low.
3.12 was the high of the Symmetrical triangle prior to the 100% rally off the December 30 low.

3.12-3.19 "should be" good support if GIGM trades off to that area.

GIGM should be reporting earnings soon.  July and September earnings were not well received.  November earnings launched the rally to 5.63 on an upside Breakaway Gap.

Off the November low of 1.65, GIGM enjoyed a rally of 241% to the January high of 5.63.  That kind of rally in such a short period of time suggests that a lot of good news is factored into the stock.  If GIGM is battling resistance when earnings are released, the stock could falter on "buy the rumor...sell the news", even if earnings are good.

Head & Shoulders Top

Well, I'm always a good sport when playing the markets. I've lost and won so many times that I don't get excited when I win or depressed when I lose. I love the markets because they are so fair and objective.

I have to congratulate Terlisa for a nice quick short term trade on the short side of GIGM 

But I have to say something about his (or her) strategy. I also read Trading for a Living and Come into my trading Room, from Alexander Elder, sometimes. Maybe too many times. Those books are a nice entertainment but they don't contain in depth market wisdom. One of my closest friends was an addicted on Trading for a Living (the book). He lost all he had several times before he totally quit trading. You can't talk about the markets with him now, he'll run away.

I hope this doesn't happen to you Terlisa, I'm sure it won't. But always keep an open mind to new ideas 

Considering GIGM, the stock seems to be short term bearish, but medium and long term it continues to be bullish. I didn't catch the opportunity to sell high, but I won't sell low either, because I have time and fundamentals are very attractive.

People were losing money on other stocks and also sold GIGM to cover their losses elsewhere. But good stocks go up in good or bad economic conditions. I'll continue holding GIGM, both on a trading and investment perspective.

Quote from: Melf Elf on February 08, 2006, 05:46:35 AM
Yesterday, GIGM broke the neckline of a H&S top at 4.36.

This is a 5-Minute chart, showing the neckline and the right shoulder of the H&S top.  This morning GIGM rallied to broken neckline which comes in today at 4.351.  The early rally failed at 4.34, validating that the neckline is resistance. 

Short-term, GIGM is vulnerable to the downside target unless/until it can get back above the neckline.

GIGM currently is BID 4.06...ASK 4.07

I really don't get why this is still on the trading portfolio.  Fear of selling too low?  To that I can only say no low is low enough.

Dear Netfish....

This is the difference between trading stocks and investing in companies.

You might be right from a trading perspective that GIGM is a lousy stock at this point in time but from an investing perspective it becomes better and better for each cent it falls.

I am not a great technical trader but I am pretty good at recognizing value when I see it. I sold GIGM with a very healthy profit before they exited the record business and acquired FunTown. This company is today focused on a high growth industry and is worth much more than when I sold it.

I have still not reinvested in GIGM but I will buy the stock as soon as I feel the profit taking is over and the company start trade on the fundamental value of the business. It is this value that makes GIGM a great long term pick (I hope!)

Mike

Do we not have GIGM in 2 portfolios?  one of them being the "trading portfolio"?  I am all for keeping GIGM in the long term portfolio but I fail to see why we are keeping it in the short term portfolio.

Quote from: Michael on February 08, 2006, 12:18:25 PM
Dear Netfish....

This is the difference between trading stocks and investing in companies.

You might be right from a trading perspective that GIGM is a lousy stock at this point in time but from an investing perspective it becomes better and better for each cent it falls.

I am not a great technical trader but I am pretty good at recognizing value when I see it. I sold GIGM with a very healthy profit before they exited the record business and acquired FunTown. This
company is today focused on a high growth industry and is worth much more than when I sold it.

I have still not reinvested in GIGM but I will buy the stock as soon as I feel the profit taking is over and the company start trade on the fundamental value of the business. It is this value that makes GIGM a great long term pick (I hope!)

Mike

Count me in Michael... i'm just waiting for the right time, i feel bears will dissipate soon, & bulls will gain control of GIGM once again