China Digital TV plugs into mania

I've seen this before. It was back in the spring and I was testing the waters of the market again. Then I heard about this weird-sounding stock, Dendreon. Ticker: DNDN. I started following the streaming quotes. Insanity. Faster than a pinball machine, well past tilt. I didn't walk in. That house was on fire and continued to roar for days. I got in much later, but that's a much different, sad tale that I've buried.

Today, China Digital TV (STV) is out of control. I got shares on Friday, its IPO debut, at 29.15, and picked up more today at 32.49. Nothing major, just a small position. All I hoped for today was a little more upside, and at worst, a close at 32 plus. That was mid-day, after the stock had jumped and rest at "pit stops" three times already. But then things have gotten crazier, and for someone who prefers to sit back and let great growth stocks cllimb steadily, this has to be better than a fun night at the casino.

A huge torrent of buying hit STV at 1:30 p.m. Eastern time, boosting the stock above 34 after a eternally long 30 minutes of leveling off at that area. Within 20 minutes, STV soared above 36, then went through another 30 minutes or so of consolidation at 36 and change. By 2:25 p.m., with less volume, STV climbed above 37 and is now trading at 37.89. I find myself shaking my head in disbelief. This is illogical. I can't even smile. But I'm not upset, really, heheh...

I have no idea where the stock settles down once the daytraders get out, but this is too dang entertaining. My guess is that STV closes at 34, and then makes a mini-run to 36 after hours when more folks get home and see what happened today. Though the Co has some impressive fundamentals, I can't consider this a long-term hold without more details. I can't even grade it yet. But anything with China and technology is hotter than Gong Li and Zhang Ziyi right now. I just hope I'm savvy enough to get out near the highs and get back in near the lows.

Holy crap. STV is at 38.28 now.