Casino stocks have been good to me here lately. With the economy starting to reopen so are the casinos. And casinos took a big hit on the corona scare. So they present us with some good opportunity. MGM has been in my portfolio for some time now, and as of late it has been having some pretty bipolar pre and after market trading session which is putting a damper in analysis. Even still, with pre corona prices being around 32$ I still feel like we have plenty of ground to run on. These are the two most likely routes I see in the near future.
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I like what I'm seeing so far. It's looking like it wants to go with the blue line. Setting up nicely for a good winner
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Market opened with blood. Best case scenario is the green line now. Worst case we might be about to see a entire market dip
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With the market dip that happen at open which its trying to bounce back from, as long as it recovers I dont see where it changed our projections. Our bottom still stopped at the same place, we just got their a little faster. The path is a little different, but we are still going to the same location. I threw this together to try and help update the situation
@wujo, be careful with everything right now. There's somthing fishy going on now in the market. I think I have a idea on what it might be and there's a good chance we are about to enter some choppy waters. I'm going to try and make a chart later to explain the possible outcomes of our near term overall market conditions . Using extra caution right now is highly advised .
wujo
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@DanielBeasley, sounds great. I'm long on MGM, so buckling up for the ride. Interested in your thoughts on outcomes. :D
DanielBeasley
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@wujo, I had some unexpected guest at my house last night that stayed longer then i expected. I was hoping to get something out last night. My apologies. But I hope this helps.
wujo
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@DanielBeasley, looks good. Will be interesting watching what happens next.