Friday saw GLUU continue its drop in price and we're now sitting below $5... really sucks and highlights the reason of why you need to have a trailing stop in place. I'm now at a NEGATIVE 34% on the position which would be my larges loss if I closed the position. I am continuing to hold however, but not just because I don't want to take the hit, it's mostly because I still see the stock bouncing to the $7 to $10 range near or after Q3.
Here's a couple of recent articles on GLUU:
I have the 8% trailing stop in place but I'm thinking I won't need it. If the stock hits the 10% mark I'll tighten the stop to 2% or 3%. With this pattern usually hitting a gain of 10% to 15% that should leave me with no less than 8% gains. I may manually take profits at the 15% though.