Monday, December 11, 2006

GIGM... Why I Am Waiting For Next Month



GIGM is temptimg to buy right now because the stock is in an uptrend and is now sitting on it's 200 day moving average but I feel it may still go a little bit lower.. If you look above you will see a 3/12 year weekly chart of GIGM... Notice how approximately every 7 months GIGM tends to make a low and then rallies.. This cycle has been accurate since late 2003.. The next 7 month cycle low is due next month around Mid January.. The stochastic oscillator still needs to go below the buy line for a possible significant buy to take place..I think next month we will have a setup to buy this stock assuming it doesn't fall out of bed by then..

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