Warning: Following my trades may be hazardous to your financial health. See Disclaimer.

Thursday, April 19, 2012

ZNGA - Swept By the Tide

The tide being the broad market - when the market sells across the board, only few get spared.  For stocks that have been in a down trend, they stand even less chance.  Today ZNGA took it on the chin and went way below the text book support.  I dumped half of my holding today, holding the other half.   Fundamentally I still like the company, and I know it's not going straight down to 0.  This is dangerous thinking.  But let me put it in a different light:  I did my part in selling half in fear of it going lower, instead of hoping that it will bounce back.  That should neutralize the thought process.

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