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If you are one of the billion active Facebook users on Earth, inevitably you have seen the following notification a billion times already:

Everybody plays this game, everybody but me that is. Even my Mom plays it. I haven’t played it, nor will I ever play it. I’m sure it’s a great game and tons of fun but my time-killing useless addiction slots in life are already filled up with charts covered by lines and drag racing videos.

The maker of this addictive puzzle game, King Digital Entertainment, filed for an Initial Public Offering on Tuesday. In the filings the company revealed a profit of $567.6 million on revenues of nearly $1.9 billion last year. I don’t care what candy you measure it in, that is crushing it.

King Digital is not the first social gaming company to go public, so investors looking to cash in on the industry have a few options to turn to ahead of the IPO. Arguably the most widely recognized name in the business, Zynga (ZNGA - Snapshot Report), has morphed into a potential casino operation as well. What started off with titles like Mafia Wars and Farmville now boasts online poker. As a result, investors have seen the stock double since the start of 2013. Today Zynga carries a Zacks Rank #1 (Strong Buy) and has been in all-out rally mode since announcing its purchase of game maker NaturalMotion.

The chart for ZNGA looks like a runaway train. There has been a lot of bullish momentum since the acquisition. The stock continues to break away from its 25x5 SMA which is in a very bullish positive trajectory. Stochastics are a bit overbought but that is to be expected from a stock on a run like this. After breaking through resistance at $4.60, ZNGA crushed the $5.00 mark and is looking higher toward the heavens. If online casino gaming takes off, ZNGA at this price may be the steal of the century. Did somebody say "Bazinga?"

More in line with King Digital’s mobile and social gaming is Glu Mobile (GLUU - Snapshot Report). GLUU has a portfolio of original titles for mobile as well as titles based on major brands from partners like Activision, Microsoft, Sony and SEGA. After a huge earnings surprise last quarter, GLUU has catapulted into a Zacks Rank #1 (Strong Buy).

A look at the technical chart is eerily similar to ZNGA, with the stock on a tear recently. GLUU has more than doubled since mid-September and is pounding on the door at $5. Here we are well above the 25x5 SMA with stochastics in an overbought position. With both of these stocks so high above their 25x5 SMAs, I would wait for a small pullback to load up on either. Remember, these high beta names often outpace the market when things are good, but when the market pulls back they are usually the first ones to suffer.

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