I've been holding GIGM since late last year. I probably jumped the gun, selling at 7.40, but I went ahead and sold the remainder of my position today on this afternoon's pop.
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About Me
- Melf Elf
- Blog Purpose: To share with others what I know about technical analysis and about trading. I am not licensed to give financial advice. I never do so. I don't try to "predict" the market. I try to FOLLOW the market, as best I can. I honestly don't know how high or low a stock is going. I'm not a psychic. I mainly look at chart patterns, trendlines, support and resistance. If a pattern breaks out or breaks down, that gives me a price target that is IN PLAY. That doesn't mean that the target will get MADE. Some do. Some don't. While I try my best to answer questions that are directly related to any of the posts that I make, I don't have time to give individual tutoring. Please check bookstores, libraries and myriad sources on the internet on the subject of technical analysis and take advantage of those resources. Thank you for visiting my blog. I hope that you are able to learn something while you are here.
4 comments:
Good one, Melf!
I think we see a pullback now to 5.50 - 5.75. As low as 4.00 is not out of the realm of possibility. So I suspect you were not early, but right on the money!
Thanks, Greg. The general market has been looking so tenuous, I decided to go ahead and cash it in. We'll see how it plays out.
check that, today looks like it was a major reversal day with high volume. On the other hand, the high volume came during rising prices, so that's likely bullish.
The chart now looks like a pullback to 6.30 - 6.35 is likely, and possibly to as low as 5.60 - 5.70.
Greg,
Yes, the volume was good on Wednesday. I bought back 2,500 shares yesterday, at 7.035. Mental stop: 6.36.
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