I am still honed in on the major casinos here, to see if the breakdowns are legitimate or instead simply another bear trap.
I suspect we will not get a clear answer until next week or mid-September.
However, seeing LVS WYNN take out yesterday’s lows has me sticking with my WYNN short.
I also believe the outcome of this setup, be it bear trap or the-real-deal breakdown, will offer valuable insight into the not just the health of Macau but also Las Vegas and indeed many consumers here in the U.S..
I just went long WYNN!
That would be the bear trap thesis.
It just looks oversold to me. Been watching them for the past week. Good trade on the short side for you so far. You mentioned the short trade here, what two months ago?
tip of the hat
Would be a change in character for the broad market is a major industry like the casinos all actually broke down instead of bear trapped.
Chess N. Wine …. (Esquire). I’m watching this one from the sidelines. The casinos have broken my heart too many times..
Good man, Unc
LVS looks like it just reversed at a higher low above 66. Bear trap.
Fundamentals are decelerating and chart is lining up. I say lower. Short here at higher prices.
What about Vegas and How well it’s doing. Most of MGM is Las Vegas. Sell me on the short please
Not short MGM. I am short LVS
I don’t get it. Most of MGM is Las Vegas yet they only care about Macau. MGM China is Not losing money and it won’t be. MGM assets on the strip alone should be looked at.