I hate to tell you this but I'm seeing 21 or 22 as max pain for this month expiration. You only got about 9 days left. You are fighting time decay here.
I think you need to take steps to at least hold the commons (the ones in the money) instead of the theta.
No, it's not like that.
For example: For this month, I would have sold the 20 Put, and sell the 26/27 call spread at least 2-3 weeks before expiration.
If you hold the commons, 26 is the covered calls that must be sold prior to earnings or just sell $26 if it reached the target during earnings.
Yes, that gap got refilled and I also took the opportunity to sell into the surge premarket because my price target was reached.
GOGO has been very profitable for me.
Today earnings is just as expected. The price target @ 26 was reached for FY13, earnings revenues are good and forward guidance are in line.
Therefore, there is no need to panic sell here. The general market is also pulling back.
Traders are taking opportunity to book in some profits during the last run up, GOGO is no exception.
FY14 is a new year and I expect GOGO to continue to grow in revenue and incremental market share, better service for customers (as the CEO has said better speed soon) with the latest gear soon to be deployed.
Just hold if you're long and watch for opportunity to buy more later.
Earnings is as expected. I took profits @ $26 target reached at premarket.
They're going to sell into this.
Wait for better entry. I think the support at 20-21 should hold.
It's perfectly ok to take some profits before the ER. You can also buy back later.
Maybe higher if ER is good, or lower if bad.
Longer term, GOGO will do fine.
I was away today.. didn't watch the tape. Just log back in and saw it pull back a little to 23.40 today.
Hopefully the late comers got the chance to buy this dip.
I'm still holding a full load. Going hang on till earnings and evaluate. I may lighten some,
just before Wed.. if we get to 25/26 level prior to earnings.
Saw a news brief that SAC now got a 5.1% holding (they have to disclose). That's great news!
Institutional now are buying.
I won't get the chance to watch the tape tomorrow. Please hold the fort!
At least keep GOGO above that 50ma line, bulls will be in control till earnings!
Relax.. not need to shout "OMG, I miss this run" and don't jump right into here intraday highs.
We still got the gaps (from this morning) in there.. GOGO likes to fill gap. Wait for your opportunity.
Remember, GOGO is a volatile stock. It can give it to you and as well as take it from your easily.
The reason why it gaps up so much it because the confirmation double bottom from last week and the barrier of the 50ma (22.28) was so near, with light volume, MMs can accelerate the price action with its fast trading machines with just a few thousand shares and jumped over. All other machines saw it, they rushed in, then followed by retail investors (as usual, late buyers).
There are lot of potential upside and also quite a lot of resistance as well. But, we got the bottom (19) confirmed here. Just use that 19 as stop. GOGO will pull back and if it does, use this opportunity to BUY.
If business continue to be stellar, I have no doubt GOGO price action will retest the highs 30s.
Remember this day (Jan 27) when the bears laughed at the CEO who just appeared on TV with bad teeth,
and took the opportunity to do naked shorts. This is the day when the price was around 23.80'ish prior and they took is down to 20s.
Now, it has fully recovered to the same price as if nothing as happened.
So, what changed fundamentally? Again, absolutely nothing.
GOGO hasn't issued any profits warning, reiterating the same earnings projection for 2013, more products on airlines.
Only the bears stories like class action suits, competitions like ENT, Panasonic Avionics... which
really in reality no effect on GOGO fundamentals.
Anyway, GOGO gained almost 10% today, and that's very good thing here..
Very nice!!! Finally, back over the 50ma line.
I like the huge volume at open. Nice handle for the cup being formed.
Left a small gap (between 22.01 and 21.87)
Because GOGO likes to fill gaps, so go ahead and raise your stop up..just it case it drifts back lower to back fills it.
I think the investor conference will bring more good news and attract more buyers.
Overall, I think we got a pretty good day. I was really hoping it would tag 22...
but hey, at least pierced thru last Friday high of 21.70 with a peek at 21.87 today.
Today volume is also pretty good.
Hoping for 22 or higher tomorrow!
No need to do that.
I'm still holding GOGO and added more yesterday around low 20s.
I want to see GOGO test and break 22. I think it will do that soon.
I also set my trailing stop in.. around 50c-60c. If I get stop out, that's ok.
I can always buy back later. Trading GOGO is choppy.
Sorry if it's bother you. Just put me on ignore if you wish.
I'm just trying to help GOGO investors/traders here. We're to make money. I'm on the long side play.
GOGO is difficult to trade the fundamentals does not jive with the stock price (which I think it is low).
But, today, it may be a good turn around day. Volume is strong..
Let's see GOGO can break 22.
Here we go... totally 180 from yesterday.
Premarket, GOGO gapped up.. above 21.
So, if you didn't buy yesterday, you may get another chance today but don't chase this premarket.
GOGO always like to fill gaps. Try it around 20.60 - 20.80 area.
The pros will try to sell into the morning gap.