For the ZNGA longs plugging away in a world of virtual goods.
Hey there. Why do you continue to post your negativity towards this company? I understand if you're short and trying to be a cheerleader for your cause, but you claim to be short since the highs.
News flash, YOU WIN!
You beat the street! Cash in! You expect it to trade below book and go BK? Why would you wait for that risking what is already a huge gain? Investors buying this now are value investors that think online poker/gambling/hardcore gamers can save the day. I happen to be one of them.
Honestly, I question your sanity. Any sane person would have moved on to the next target no?
My only explanation is that your wheelchair bound and this is your daily entertainment. If that's the case, please except my sincere apologies.
There are so many gray areas in the course of daily affairs, so I am attracted to the stock market for the simple reason that it is quite easy to determine the winners and losers at the end of the day. The world is reduced to a pair of black and red entries--profit and loss. The complexities of life can be summed up in these basics, at least while you participate in the casino. However, my little diversion is more than just about greasing the cogs, which is about all money is really good for. I want to see some divine form of justice unfurled, assured at the end of the day that even Bernie Madoff must go down for the full count. I might be tempted to short Pandora, a company which also has financial difficulties, but I love and use their product, and they most definitely have some very gifted musicologists on staff. I could short Yelp as well, but some of the reviews, particularly of low end dive bars, are often creatively written and have a high entertainment value. I find none of this to be true with the bull dog. It represents all the mindless conformity I most abhor in the modern world. It is the programming of the sheep. I proffer that the sole motive of the founder and his insider pals was to make a quick buck off of absolute hype best relegated to the rubbish bin. I felt this at $14.19, especially when I heard boy wonder (CEzero) explicate on how ZNGA would "connect the world." Not a world I want to live in. Again, going back to simple numbers, I have been correct about the primary trend of this beaten stock for quite some time. The bull dog's fate is already written in the stars. Karma Yoga remains in effect, though churning action might be expected with the release of earnings. I suspect the company itself will actively purchase the common shares next week in a vain effort to buy some time. A dramatic rise in volume is a given, but it would not surprise me if there is minimal price movement. That will be a temporary condition until the major averages come under pressure.
So cue up that Gram Parsons recording--Return of the Grievous Angel
"In My Hour of Darkness" It could very well become the ZNGA gambler anthem.
I think the Ides of March is a proper time to cover a ZNGA short. Everything else is background music.
Mr Odonnellm66, I have been reading your posts for a few weeks now and I respect your thoughts because you seem quite wise or at least very old. However, some things in this statement trouble me.
Firstly, your wish for "some divine form of justice" suggests that you have some sort of vendetta against people that have made a fortune by being involved in nefarious business activities. While I respect this sentiment, it seems out of place and inappropriate to apply this mentality to trading stocks. One can make money by trading a stock of a company run by a #$%$. Is Pincus a #$%$? Almost certainly. But I think the company is currently way undervalued. Is that morally wrong? It's up to the reader to decide.
Secondly, you mention stocks that you would like to short: Pandora and Yelp. However, you enjoy using their services. Is it not the first rule of trading that one must never let emotions and personal sentiment get involved? You do not like playing Zynga games. That's fine. But many millions of people do. So, is it not true that you must look past your personal preference and examine the broader picture when it comes to buying and selling stocks?
I look forward to your response, sir. I'm sure it will be reasonable, but I did find a few things in your post troubling.
Good luck everyone with the upcoming earnings statement and have a great weekend!