I reluctantly admit ZNGA's short term chart looks decent, especially Monday's back fill.
However, I still have these major misgivings on what is essentially a momentum play:
1. Product. Even after the culling of the herd, I wonder what the 2000 plus employees at the Bull Dog Brain Trust do all day. Yes, we are talking about overhead.
2. There are no earnings and the next report will post dismal losses.
3. Online gambling revenue at the very best is far off in the future. ZNGA can't buy that kind of time.
4. Confiscation and outright fraud via the secondary offering. A complete and utter scam.