Friend you need to learn a bit more about MM-Spec's inventory management. It is dynamic. It contracts and expands (their inventory) for one reason and only one reason....to make $$$. They could care less about Znga BOD agenda items and meetings. They are so short term that any discussion revolving around 2 weeks out or later makes them leave the room in disgust. A spec's or mm's (low on the food chain btw) main attention is to show net profit every Friday close. An mm is trusted with several symbols for the house in which they manage. If they do good, then x-mas bonus is good. If they do poorly then x-mas is a no-go for their kids. Trust me here. You have a good post but mm's holding or not holding means nothing. They will flip their own mother for a profit...sad but true. Ever wonder why Wall St. is so "Giving" with NAZ lev 2 quotes? Hah! The day the SEC makes an MM or Spec report their inventory, level on a day to day basis, is a day when the market will be pretty darn fair. AS long as mm's and Spec's can paddle shares and shrink/expand inventory and not report it...hmmm...small Tom and Mary investor has an unfavorable "House Edge", to fight against to make $$$:((( Not impossible...just steeper odds to overcome:(
GL. Don't put too mush into what the stupid mm';s are building up and holding. In fact, you may as well develop a strong hatred level for these #$%$ here and now because they will fool you out of every dime you have if given the chance. Then they will meet at XXXX's Bar & Tavern Friday evening (yes I have been there) to brag about the $$$ they made off of xxx and xxx symbol each week. Sick greedy idiots but that is the game!
Hil, I agree with you. However timing is meaningful in the business of buying stocks, and my timing couldn't have been worse. Six months of stagnation is too long. Yet, I will continue to hold, living in hopes our new CEO will deliver.
riday2010. I really enjoy reading posts like yours. You seem like an upfront honest person. cards face up. I respect that. Like you I have no problem publically revealing a negative outcome on a stock. It is the mature thing to do. This thread knows I lost about $4k on this one. I made most back after on puts. I wasted many many many months with $$$ parked here and lesson learned. I will not park $$$ again here until the time is right. Anyway, back to you. I applaud your post and being honest. I will not ask you your entrance price but I will ask something else. Are you in a position to double down on earnings release day or say in the next 4-6 weeks? I do not mean extending out with risk that is out of the ordinary. Risk levels must remain the same as you have had previously. There is no reason to increase them here or any stupid symbol on nyse or naz.
Let me know please if it is not a personal type question to answer. If not my bus, just say so. No prob bud.