Are we done selling casino stocks?

138 9 5
Looks interesting if TL holds
If it pulls back to the 50% level it will break the trendine you have drawn. Interesting analysis. I've been shorting it for awhile now but have no positions now. The trend of news has been towards reducing estimates and growth rates for Macau, etc.
+1 Reply
Has been a nice short. congrats. I do see TL support while almost testing the 50% retracement. I also don't expect another test of that fib, otherwise I will short again. I do notice a possible bearish shark for ones who like to play harmonics as bullish.
timwest JXMFinancial
Big reversal up in LVS today... Could be a sign of a turn to the upside from down here. I'll keep a closer eye on it.
timwest JXMFinancial
Very nice reversal up in WYNN also - Nice going.
2use timwest
Tim, do you know the real reason why casino stocks and LVS specifically are tanking? The price moves lower amid indicators not making lower lows. Is it a good divergence there now?
Must be end of quarter rebound - there is no news that I can see. Sellers dried up.
G13Man timwest
side post , china cutting back it's crack down in Macu and Japan being urged to allow Gambling
Las Vegas casinos also may have gotten a boost from a Bloomberg report that a Japanese lawmaker backing a bill to legalize casinos in that country said he expects the bill to win approval in Japan's lower house as early as next month

Read More At Investor's Business Daily: http://news.investors.com/business/093014-719589-las-vegas-sands-mgm-resorts-shares-pop-on-china-report.htm#ixzz3EpQh5c6r
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2use G13Man
Next month will be after earnings for both i think. Might as well sit and wait for the current numbers (unless more raises... so far its below MAs)
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