ZNGA Update

This is one of our long positions, I just covered it late last week in this post... trying to decide if it should be closed or a partial closure and instead I wrote the following...

"I was looking at it and trying to decide if anything needed to be done and actually kind of like ZNGA where it is right now.

As ZNGA is a partial position, it still has room for about 50% more until it's at full size, I might even consider adding in the area.

Overall the longer term and probabilities on ZNGA look very bullish.

The 10 min chart is already showing a decent positive divergence building through this area so I actually like ZNGA here.


I'm not opposed at all to starting a position (long) here or adding to it, I'd personally bring it up to 50-75%."

ZNGA just went up over 11% today so it's time to take another look. 

ZNGA is now at more than a 19% gain.. I hope you got some last week.

This is today's daily chart, it's just near intraday high resistance so the close will be important.

I really don't see anything that makes me even want to take partial profits except the fact it's a pretty big move and kind of parabolic, I'd probably prefer to stick it out, see how it closes and remember that this is still in a base and was meant to be a longer term position, not just a trade, but if you want to take 20% profits and look for a new entry, that's your call.

So far I'm ok with it staying open.