PRTY - It's consolidation time!

For those of you who haven't seen the TV ad now showing on Irish TV, it is quite catchy. A group of cowboys are playing Texas Hold'um and one of them says "Wasn't Breakback Mountain a fine film." All of his companions desert him. The punchline is "If you haven't got anyone to play with, join us," and the Party Poker website appears. As to the effectiveness of the campaign, I caught my 18yo son playing on the website a couple of days after the ad - not exactly what I wanted.

This share tested 26 p a few times and found support. It has now closed significantly above 30p. News has been positive since the Dec 11 announcement. Player numbers are rising steadily and the proposed acquisitions, given the income they appear to generate, seem ridiculously cheap - shrewd management. The company is cash-rich £40 million plus in the bank and strongly(and predictably) cash generative. The sector is not affected by geo-political risk, oil, terrorism or other threats to the upward progress of the markets.

I feel that downside is limited and that the upside potential is very high indeed.

IMHO 50p a share in a relatively short space of time is achievable. I made a few pounds buying at 26-27 p and selling at 29-30 but today I put my money where my mouth is and bought 74000 shares at 31.4p. Happy new year to all