"NTES followed that up with a tight consolidation, and then a shakeout down to its 50-day moving average on earnings. But it found support at that line ... on the heaviest weekly volume since early 2006. And it's pushed higher since.

"Of course there will be pullbacks (perhaps even one starting soon), but the strength seen in this stock at the start of a bull market suggests even better times ahead.

"Within the Chinese online game sector, business trends are great, and we're especially encouraged by the large increase in earnings per share estimates for next year (from $2.42 before the report to $2.70 now).

"Remember, while growth should be nice this year, the big event was NetEase's win of the World of Warcraft license, which should boost numbers into next year. Overall, NTES is very strong but extended, so try to buy on weakness.

"Changyou.com (NASDAQ: CYOU) is part of the very strong Chinese online gaming group. While online games aren't overly popular here in the U.S., over in China they're a huge business, accounting for $2.75 billion of revenue last year, and that's projected to mushroom to nearly $9 billion by 2013.

"That's because games are cheap entertainment and make for a social occasion, thanks to 170,000 Internet cafes in that country. Changyou.com operates one of the most popular games in China, dubbed Tian Long Ba Bu, which garnered 875,000 peak concurrent users in the first quarter.

"The stock has rallied on great volume off support at 27 nearly to a new high recently. It's more volatile than your average growth stock, so if you don't own any, try to buy on a pullback."

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