So far today, GLUU was up almost 9%, then dropped by 4.5% in a matter of minutes. I'd prefer to see a more consistent steady gain but that's what we get from a high beta stock. Best case scenario is that GLUU closes near the highs of the session. If the stock fades again like in recent sessions, we're back in limbo again.
jake: Yup, still holding 40,000 shares. If you've been following GLUU trading closely, the stock always get a big pop early in the session on those Seeking Alpha articles but then always fades. Even if GLUU keeps moving up, I never regret lightening up on a speculative stock.
islands_azzwipe: Hey, newbie -- CRAM-IT-WHERE-THE-SUN-DON'T-SHINE!!!!
BTW -- I have an order in to sell 10,000 shares @ $3.75. Hoping for an execution today. I'm holding 50,000 shares of GLUU. How bout you?? Ha!! About what I thought!!
Here we again!! GLUU pops to $3.75 in the first half hour but can't hold the gain -- AGAIN!! This consistent trading pattern is getting old. Traders are selling into strength and longs just can't keep the shorts on the ropes!!
GLUU acted a little better over the last 15 minutes, closing near the middle of the session range. It's a much better position heading into the weekend. Looking for better action on Monday morning!!
I'm holding my GLUU position but it's frustrating missing the potential gains of trading around the position. For five out of the last six trading sessions, one could have sold early and bought back in late in the day and made some really good jack. Clearly, it's just poor trading action. It's much more healthy for the stock to close near the highs of the day.
When you don't own enough shares, volatility is worthless. I'm just buying any dips below $3.10(not happening), and not selling until it goes over $4. Until then, holding my 8500 shares and watching the waves.
It will be a risky shorting particularly with the Q3 release only few days away. See what happened with znga? Lot of folks has shorted it and they are potentially really hurt now. I will be very careful shorting this one now.
Looks like the recent trading pattern is resuming since GLUU is now fading after the initial pop. If GLUU closes back down in the $3.30's, more traders will sell and shorts will likely hold tight. Longs need a strong close going into the weekend. Let's go, baby!!
Hoping it can remain in $3.40's. Looking at ZNGA action I think its conceivable that GLUU will surpass ZNGA before they announce earnings. I really don't see the point in buying ZNGA right now.