Don't get me wrong...I'm strong long on ZGNX....but seeing the rest of the market take another beating today I'm surprised it hasn't dropped again. Quite comforting!
I'm seeing 5 points of a downward channel. And it looks like $1.32~1.31 to be the top of the channel.
So I sold just now, and bought more SPXS, since I think this "fiscal cliff" garbage may pick up some momemtum.
The way my luck runs, we may get QE4, 5 and 6. I bought ALU at $1.01 and sold at $1.10. It just hit $1.48 a few days ago....
I'll be surprised myself if it doesn't keep dropping the next few days.
Good luck! Wish you all the best :)