..glad you said that, ico- gives me cover as sometimes I think I have an interesting play but it's not likely to gap..
Like: FWIW, folks might want to begin feathering in ZNGA.
ZNGA closed at 4.15 tonight, just below 4.25 gap support, but effectively at gap support. It's been selling off with the internet sector and NASDAQ.
Short term, it is a play on the overall market. If the jobs report tomorrow is good (it's released @ 8:30AM) (consensus is 200,000+), then ZNGA will head back up to 4.50 or so. If the jobs report is bad, then ZNGA will continue down to nearly fill the gap in the mid 3's. I do not have a decided opinion on the jobs report but I have a notion we'll get a decent report coming off poor prior reports due to the cold weather, mainly. Even if we get a fair or so-so report and ZNGA continues down, you would only be feathering in (scaling in, averaging in, buying in stages, increments) and I believe as we head towards ZNGA's quarterly earnings on Apr 23rd, the PPS (Price Per Share) will firm as ZNGA has new leadership and he has been turning things around ( Q's improving- a "beat" last qtr.).
You would want to place your bet P-M (Pre-Market) tomorrow ( opens at 7AM, as you likely know- 8AM with some brokerage companies). I'm in for a small number of shares at 4.326.
Granted, the true gapper & tanker picks rule- they are exciting as h e double hockey sticks and the thrust of the contest but it's just worthwhile to be able to introduce other plays that just aren't likely to gap up at 9:30AM.
Of course, it is always ok to say MG, you're pick doesn't appear to be worthy of the contest, lol
Sorry for the pedantic explanations of the acronyms but this is pasted from an e-mail I sent my Colombian neighbor (fearsome chartist) who needs help with the lingo. I know you cats understand all, lol.
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