Their corporate name pretty much says it all–this now $1 billion Chinese company who deals in digital media and advertising is breaking out to new highs today on typical 200,000-ish daily volume. Big-time revenue growth and surprising valuation–think 200%+ and a forward PE in the 20-25 range–added to the fact that people are looking for ways to play the upcoming Olympics and you’ve got some real potential here. Too gradual/uncertain for TIM, but you know it’s gonna interest guys who like buying breakouts like Lindzon
UPDATE: Bought 200 shares at $14.63, couldn’t resist such a perfect breakout, kept my position small to give me the patience to hold out for $1-2 of probable upside
UPDATE 2: Doubled up at $14.27, total cost is now $14.45, stock didn’t uptrend into the close like I, along with seemingly many others, expected.Good news is it held the breakout levels and there’s a reasonably strong chance at a morning spike, especially given the probable strong maret thanks to IBM’s earnings.
TIM Lesson: If you know you suck at buying breakouts, don’t be early, wait to buy until right before the market close.
Posted in Breakouts, Chart Of The Day, Story Stocks