BLG - Bluglass Limited

[nomore4s]

While still technically in a downtrend & some work still to do BLG looks to be showing signs of nearing a bottom imo.

Thoughts on the chart (sorry it's a bit jam packed now, lol )

The strong rally with the vol bubble is what has got me interested, it is a very strong move on very high vol. While it couldn't find a last point of support imo it shows some heavy interest in this stock, and I think the overall weakness of the market lately had alot to do with it not finding a LPS and someone taking that opportunity to buy more as cheap as possible (could be wrong of course as I often am).

Thoe other points of note are:
- Reducing/low volume on the down move since the strong move up
- The bar from Tue 22.01.08, look at the close and remember the general market closed on its lows that day.
- The bar from todays action also had very little volume suggesting very little supply at this level atm.

More work to do yet but one to watch imo

Thoughts and feedback welcome.

 

[nomore4s]

Updated view.

Looking more and more like accumulation imo, with volume seeming to confirm this atm.

There was a strong rejection of 34c, and look at the vol that then came in and the effect that the vol had. Also look at the vol and spreads on the reaction back to 34c from the 44c high - alot of positive signs appearing?

This is slowly passing the required tests imo.

 

[Synergy]

Yeah this is one i've been watching closely. It didn't come through for me in the feb tipping comp, and I forgot to enter the march one, but it would have been my pick again. Should be a company that is fairly immune to the current climate I think. Very keen to see what it can do next week.

 

[nomore4s]

Still looking positive for BLG atm. Looks to be building a nice base.

Yesterdays bar was a strong move on high volume and todays bar was a good test and rejection of 40c which will hopefully now provide an area of support.

But I would really like to see a SOS and then a LPS to confirm the accumulation argument. Looks to be close imo, but you never know.

 

[nomore4s]

Continuing good signs for BLG imo.

After ann (refer attached ann) on 14.04.08 regarding Opes Prime & Lift Capital, was expecting some selling pressure.

We did see some selling pressure on the 14th with a wide range down day on good volume, but look at the 15th, very high volume but tight range, buyers stepped up and the response in the following days confirm there was buying in that bar.

Am now waiting for a buy point - eg a SOS followed by a LPS.

 

[Synergy]

After a very good presentation released a couple of days ago BLG has finally broken out. A long accumulation period around the 40c range should fuel this for a while.

Hopefully they can get their demonstration plant up and running in the near future while the mood is still positive. Good to see them pushing their solar capabilities in the presentation too. Definitely a nice bonus to have that capability. Could even be the key to it all in the long term.

Tomorrow could be very interesting with a bit of luck...

 

[So_Cynical]

Dude...the volume is not all that spectacular for a true "breakout"

perhaps it will keep going...perhaps not.?

EDIT: ok i looked at a chart and...its a breakout!..still the whole markets on an upswing.

Open 0.4650
High 0.5200

 

[nomore4s]

Good move by BLG at last, been waiting for a while but I missed it lol , due to being pretty much fully invested already - alot of stocks on my watchlist have made strong moves recently and BLG was one of the last to move. Ah well that's trading.

Will be looking for a last point of support now and may get an entry off of that (if some funds become available), will see what happens.

May post a chart after work today.

Good luck all.

 

[nomore4s]

Good move by BLG at last, been waiting for a while but I missed it lol , due to being pretty much fully invested already - alot of stocks on my watchlist have made strong moves recently and BLG was one of the last to move. Ah well that's trading.

Will be looking for a last point of support now and may get an entry off of that (if some funds become available), will see what happens.

May post a chart after work today.

Good luck all.

Updated chart at last been very busy. Anyone want a job(making & installing robes & showerscreens)?lol

After the strong move up, prices couldn't overcome the resistaince at 60c and has reacted back towards 45c on reducing vol. But have yet to see any form of decent support come in, would want the see some at 44-45c.

Will now be looking for an entry depending on where it finds support, if 44c doesn't hold may have to rethink.

Good luck all.

 

[Synergy]

I'm surprised by the speed this has fallen back down. Also looking for an entry if it holds somewhere above 40c. Managed to jump ship as it fell through 60c which was nice, but fundamentally i want to hold BLG.

 

[hbarile]

Money Week just published Article on Solar Power which was very interesting. Subscriber only article

" However, the best way to play solar is to invest in the materials
themselves, says Jim Mellon.There a number of companies
focusing on producing the metals that make up the thin-film
technology that is replacing traditional PV cells. Dowa Mining,
(JP:5714), for example, is the world’s largest producer of
gallium, while Bluglass (AX:BLG) is an Australian producer of
gallium.
These metals are in short supply and the companies producing
them will have a firm grip on developments in thin-film
solar panels. As Jim Mellon pointed out in last week’s
Roundtable, you’ll also be able to get good exposure across
these metals when his Emerging Metals company lists on Aim
in the coming months. For a broader exposure to the next
revolution in solar power, there are two solar ETFs from
Claymore (NYSE:TAN) and VanEck (AMEX: KWT).

 

[So_Cynical]

Quote Link
Gallium is used in light emitting diodes as gallium arsenide and phosphide (and potential in visible diode lasers). It can be used as replacement for mercury in thermometers and dental amalgams. World production of gallium is around 100 tpa. Nearly all the world's gallium is sourced as a by-product of alumina production by extraction from the caustic liquor produced in processing bauxite.

http://www.chemlink.com.au/gallium.htm

 

[nomore4s]

BLG looks to have found support I was looking for at about 45c.

The chart is now looking very healthy imho, volume coming in at all the right places atm.

Would now obviously be looking to overcome resistance at 60c.

Have also attached a P&F chart with some possible target. Orange line gives a price target of between 85-90c and green is over $1.50.

This chart clearly show the trading range (which IMO is accumulation) with the strong support at around 32c. This is one of the strengths of P&F charting.

 

[Bohaty]

Just curious, is Bluglass into OLED technology? If it is then
its got a big future.
Story so far
Bluglass is a company with technology that makes light emitting diodes drastically cheaper to produce.
In doing so it brightens its prospects in a $US100 billion ($103 billion) global market for illumination.
Semiconductor manufacturer BluGlass said it had developed a cheaper process that cut the cost of making light emitting diodes,
or LEDs, by almost half.

This is why i'm interested in Bluglass, as Samsung readily believes that OLED HD technology will be the next big format.
However manufacturing costs are all that’s holding this technology back at the moment, but Samsung predicts 2010 as the
year OLED will make the move to mainstream affordability and replace LCD. At IFA 2008, Samsung showed off two OLED TVs.

So if Bluglass can make LED cheaper to make, can they also make the
OLED cheaper to produce? And is OLED something totally different to LED?

 

[Solarfuture]

sales and distribution agreement with ITOCHU Plastics

The below news I think will be a turning point for the share price.

January 12, 2009
The Manager
Company Announcements Office
Australian Stock Exchange Limited
Dear Sir / Madam
· Lighting Pioneer BluGlass signs Exclusive distribution agreement with
Japanese company, ITOCHU Plastics Inc.
Energy efficient lighting pioneer BluGlass Ltd (ASX code: BLG) has signed a sales and distribution agreement with ITOCHU Plastics Inc (CIPS), a wholly-owned subsidiary of one of Japan’s oldest
and largest trading companies, Tokyo-based Itochu Corporation. CIPS has won the sole rights to
market BluGlass’s unique Australian-bred LED manufacturing technology in Japan.
“This is a breakthrough in the commercialisation of our next generation lighting technology,” said
BluGlass chief executive officer Mr Giles Bourne. “We have been talking to CIPS, since August and
they, together with BluGlass, have successfully introduced BluGlass technology to the Japanese
market.
The BluGlass technology allows the production of gallium nitride based (GaN) semiconductor
wafers considerably cheaper than existing processes. GaN based wafers are used in high
performance LED general lighting devices for use in homes, offices and factories that are
considerably more energy efficient than traditional incandescent or fluorescent bulbs and tubes.
Executives from CIPS visited BluGlass’s pilot manufacturing plant in late December before the
distribution deal was signed “CIPS’ highly skilled sales team will promote the RPCVD technology
with equipment to demonstrate the core competencies of both companies in GaN based
semiconductor wafer business for the Japanese LED market,” stated Yamamoto, General Manager
of CIPS. “BluGlass’ technology and equipment are a perfect complement to those that CIPS
already delivers to the Japanese LED market, as well as enabling expansion of CIPS sales
products, materials for LED, to leading edge GaN LED applications, “ Yamamoto added.
Mr Bourne said the agreement was an important milestone and BluGlass will be seeking to set up
similar agreements in different markets around the world. He said that it indicated that the company
was progressing well on its long-stated plan to commercialise the GaN technology, which was
developed by scientists at Sydney’s Macquarie University.
“Our ultimate plan is to sell our semiconductor manufacturing equipment to the Japanese market
through Itochu,” Mr Bourne said. “That would involve payments for the plant equipment and also
ongoing licensing fees. We are also hoping to negotiate strategic collaborations with Japanese
corporations so that we can further develop uses for our technology.”
About Itochu
ITOCHU Plastic Inc. (CIPS) is a trading arm of Itochu Corporation and specialises in importing and
exporting materials for electronic devices, packaging, industrial materials and synthetic resin
materials. Its annual sales are 230 billion yen ($A3.5billion). Itochu Corporation has operated since
1858, since which it has established many trading, operating and investments businesses. Its
shares trade on the Tokyo Stock Exchange, it has paid-up capital of 202 billion yen ($A3.3 billion)
and total assets of 5,800 billion yen ($A93.5 billion).
About BluGlass
BluGlass is commercialising a unique Australian-bred manufacturing technology known as Remote
Plasma Chemical Vapour Deposition (RPCVD) to reduce the cost of Gallium Nitride (GaN) semiconductor
wafers. GaN wafers are a core component of high brightness light emitting diodes
(LEDs) for which there is a US$4 billion market, expected to treble to US$12 billion by 2012.
Applications for these LEDs include use in mobile appliances, signs/displays, automotive, signals
and illumination. BluGlass’s breakthrough in low cost manufacture of GaN could allow LEDs into
mass markets such as the US$100 billion general lighting market currently dominated by
incandescent and fluorescent lights. LEDs will slash carbon emissions and green house gas
emissions from electricity generation because they are 4-5 times more energy efficient than
incandescent bulbs and last up to 50 times longer.
Contact information
Giles Bourne, Chief Executive Officer, BluGlass 02 9334 2300
Alan Deans, Last Word Corporate Communications 0427 490 992
Mark Furness, Last Word Corporate Communications 0419 275 504

 

[orr]

For those with an interest in this field of LED development, the attached publication out of Purdue Uni, Indiana, should illuminate. For those with only an interest in the stock price, it mightn't hurt to be aware of possible future competitors.

http://news.uns.purdue.edu/x/2008b/080717SandsLighting.html

 

[Gordon Gekko]

Hi All,

I am just wondering who if anyone here owns this Stock? I own it but am not sure if it is ever going to produce and think my money may be better used somewhere else. I am in at .24 and it seems to be forming a base so its not the end of the world at this stage. There is no very little volume here.

Is anyone else holding for the long term? The upside could be hug on this stock no??

Best

Not on the inside and thats the problem
GG

 

[the don]

I am a long time holder of this stock and believe we are on the verge of some quality news coming from the company .The upside is enormous if you are investing long term not necessarily trading the stock .LED technology is the future and CFL's are getting more and more bad press.I own a significant parcel at 40c and am not panicked.

 

[So_Cynical]

Hi All,

I am just wondering who if anyone here owns this Stock? I own it but am not sure if it is ever going to produce and think my money may be better used somewhere else.

Looking at my watch lists tonight, came to the conclusion there's some people switching out of these sideways stocks..the stocks that require some patience, and going to the performers over the last few weeks.

Could be a good opportunity for those with some patience...there's alot to like about Bluglass.

 

[MOSSuMS]

I got out on the 14th before any of this so wouldn't have made much difference to me... but it looks like some people knew about this before the announcement - heads should roll (mainly because nobody posted the inside info here!).

But seriously - that sudden 18% jump means inside info must have been used by someone.

The Gov award was announced today:
http://www.asx.com.au/asxpdf/20091020/pdf/31lflj2s2ww0yh.pdf

Comsec Closing prices, offer, bid and vol:
19 Oct 2009 0.230 2.22% 0.265 0.230 1,542,541
16 Oct 2009 0.225 18.42% 0.225 0.205 1,048,208
15 Oct 2009 0.190 -9.52% 0.205 0.190 167,687
14 Oct 2009 0.210 7.69% 0.210 0.195 618,663
13 Oct 2009 0.195 0% 0.200 0.195 152,572

If anyone saw info elsewhere before the announcement - send the details to ASX/ASIC (whichever looks after this stuff now!) this time, and to me directly ASAP next time!