Multimedia Gaming, (MGAM)

H

hughb

It first appeared on my radar back on 10/28/2012 when I noticed that it had made a new 52 week high that week and the volume was picking up. It took a slight dip in the beginning of November and when it looked like it was ready to make another spring up I bought it at 6.84 on November 18.

Anyway, I almost crapped my pants when I was checking quotes this morning! The news headlines on it say that there was an earnings release this morning, I guess the market liked it a lot.

I'll trail my stop up tonight after work when I update my charts.
 
Almost a double on this thing now, (it was up to a double earlier this morning). The charts are giving me conflicting messages, so I'm probably not going to add to my position for now.
 
Around the end of May I put in a GTC buy stop if it rose back to 13.50, and today it did. If Darvas were here today, he would have waited until it got above 14.51 to buy more, but I think breaking out at 13.50 is a sign the new highs are yet to come. Hopefully I'm not to early, it is a crappy market out there.
 
So it appears as though my judgement was correct. The volume on up days exceeds that of down days, indicative of high demand for the stock. My account closed this week at an all time high, it's been a very good year so far. Will go out for celebratory drinks tonight!
 
Stopped out this morning at 13. Looks like they released an earnings report that the market did not like. It was still a very nice run.
 
You must log in or register to reply here.
Back
Top