Lanmar
Long

Fantastic Long Opportunity in Boyd Gaming

NYSE:BYD   BOYD GAMING CORP
207 views
7
207 4
So sexy it's scary. Strong close on the last Friday of the month. Just wow. Do not hesitate, just buy it.

Disclaimer: I almost never buy stocks. My last stock was Irobot at $32 per share (now at $65). Before that was Nvidia at $19 per share (now in the 90s). Before that was Alibaba (no change).

Comment:
Trade closed: target reached: Taking profits and closing position as it's in my target box. Will revisit in the future
What made you so sure on this trade? Ive been going through a lot of your charts and you never say things with such confidence. Nothing really seems too spectacular about this setup to me as these formations aren't too uncommon. Did you do a lot of fundamental research or was it solely technical?
Reply
@I4, good question.. The tightness of the consolidation and the timing of the close. The confidence in the direction was solely technical. I did however call every hotel they own and ask about vacancy rates, and some really simple questions about their opinion on the state of the hotel Boyd bought. I would not dig that deep if the technicals didn't guide me. I believe I had a similar level of confidence with Ripple. That pattern was fairly similar. The tighter the consolidation, the higher the probability for price to have no where to go. The beauty of this trade was the risk was so low in relation to its possible return. Also, the timing of the close - last day of the month on a Friday confirms a buy signal for every systematic long term long equity strategy (weekly and monthly).
+1 Reply
@I4, Here - similar "just buy it confidence" in ripple.
Reply
I4 Lanmar
@Lanmar, thanks for the reply! What are your thoughts on BZUN? Seems to have a similar structure(maybe not as many resistance attempts as BYD) and the pullback seems like a nice place to enter.
Reply
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