MIPS

Last week I talked about BIDU, China’s largest search engine. Its buy point is still $115.14. Keep this stock in your watch list and watch for volume to increase by 40% or more. I have a confession to make. This last week I bought into BIDU. When I did this I became a predictor. I thought BIDU was going up and I would get a discount price if I bought then. It still can go up, but the truth is no one knows what BIDU will do. I do not want to predict the market; I want to invest in the market. Investing is about earning money, making logical decisions, not gambling. This is a lesson learned. I still hope my gamble earns me money, but with any gamble there is more risk than there should be.

This week I will analyze MIPS. MIPS is a company that is in the semiconductor sector. More specifically they make 32-bit and 64-bit chips for computers. Currently MIPS is forming a 6 week base and its buy point is at $16.03. MIPS had its follow through day on Thursday with volume up 189.6%. This suggests institutions are buying MIPS.

Following William J O’neil’s strategy I’m up a total of 15.46% over the last month. I earned 24% on LULU and I’m up 6.94% on INFA.