I fear we could dip to 2.5 or so. I'm holding the shares that I have right now, but I'm not loading more. I did previously think 2.7 was low, but now I think we will touch 2.5 at some point. There's no real pressure to buy shares as it falls, so shorters and selling volume will make the stock go down more. Until about 2 weeks, then I would buy.
$1 is not likely. That's below cash. How does that work? $2 is bottom, but I don't see that happening before earnings. Right now I think 2.5 is bottom.. Next week I could have a different opinion, but right now with the volume as it is going, and the fact that we have 3 weeks till earnings we're slowly going to descent down to $2.5 due to the damn shorters and weak hands.
Now here is a voice of reason, so seldom heard. Never ignore the major indexes, especially at these nose bleed levels. Systemic risk is being ignored currently. When the sheep finally grasp the downside potential of the casino, it will be one massive run for the exits. The problem is that the doors are narrow, and everyone cannot get out simultaneously. This is most unlikely before the election, but we are living in strange times. I think we can expect major tectonic shifts in 2013. I wouldn't bet on $1- ZNGA, but $2- is quite feasible. In a true panic, no one can accurately call anything, except that it is down. The hype rubbish will be hit the hardest.
I've had shares through out buddy, I just share my opinion on this stock as is. I hate incessant pumping with nothing to back it up. I never fully sold off all my shares for a loss, I kept some around in case it bounced back up to $5. Do I think it'll ever hit $5? Yes, but probably not for a year.
Do I think we will go down in the short term. Yes. Do I think we will go down to $2? Nope, not before earnings anyway. So right now I see bottom as $2.5.. I could be wrong, but that's what I see. Two weeks ago I thought bottom was $2.75, but now I don't think so.