casino stock new lows Feb 19th

interday lows as of 3:30 Thursday Feb 19th

 

LVS 2.75 which breaks the late november 2.89

 

WYNN to 22.55 which is a continuation of it's new lows from yesterday

 

MGM 4.35 which is also a continuation of the last few days

 

I bought 5k more LVS @ 2.77 to add to the 5k I bought two days ago @ 3.02. think were close to a bottom in LVS and MGM. both are getting pretty close to "salvage value" even with their debt.

 

time to nibble in small amounts.

btw, both BYD and IGT holding above their november lows

 

BYD 3.63 vs Nov 2.81

 

IGT 9.19 vs Nov 7.03

 

also think some of this selloff is because of TRMP's bankruptcy filing and, of course, the overall market conditions.

 

"when they raid the whorehouse they take the piano player too"

its hard to tell. i will be sending my check for my IRA tomorow or monday.  I would love to get into LVS at $2 or $2.50.  I think we'll see $2 if the dow keeps going down

i had a friend just come back from Vegas and he said the strip is pretty dead compared to the way it was last year as far as the bumper to bumper traffic is concerned. Other than that he said there was plenty of action going on. Im from a town of 10,000 people in NE Nebraska and i know of about 100 people that have recently gotten back from Vegas or are going out to Vegas within the next couple of months.  Thats 1% of just our town that i know of. Im assuming i know or know of between 1500-2000 people of the 10000 people. So that is 5% of the people i know going to Vegas from our small town.  Point being that people are going to go to Vegas so its never going to die. You might not have as many of your weekenders that come up from SoCal but overtime they will and Vegas will be able to work through the slowdown.

 

looks like you could very well get your chance. as usual I'm early buying @ 3.02 and 2.77. friday intraday low was 2.31 (current 2.41) and it's still early in the day. going to hold off on adding any more for now which is probably a GOOD sign for the stock.

 

 

interesting that both CRYP and GIGM are holding up pretty well here.

LVS new intraday 12 month low of 2.13 wed 2-25 (closed 2.22). tht's now 8 down days of the last 9. IF it breaks 2 it could get AIG style nasty as a lot of mutual funds can't hold a stock under $2.

 

WYNN 21.06 a new 12 month intraday low

 

MGM 3.78 a new 12 moth intraday low

 

 

 

 

out of the trap on LVS. sold today @ 2.96. COULD go higher BUT that dip down yesterday to 2.13 gave me WORMS.

 

just happy to be out and watching. pretty sure there will be another shot close to $2 in the near future.

 

Walls, I recntly looked at Market Vectors - Gaming ETF (BJK - nyse) BUT I don't think it's the type of "pure play" we would be looking for. it's recent lows don't really reflect the hammering the stocks you mentioned have had recently.

 

I had bought LVS for 3.75 and yesterday I doubled my posistion at 2.16 (avg price 2.96). 

 

I havn't decided if I will hold or take even money.

I would unload at least half the position here. I still think we will see another down move. could see a "day trader dump" going into the close. 

I sold it all for 2.88. I still lost a bit, but I agree that it will drop back so I can rebuy.

 

I anticipate a sell off before the end of tomorrow. People don't like to hold into the weekend after quick gains.

 

LVS (and the others) just been TOO squirrelly to hold here. COULD jump somemore BUT I think the odds are against it. better bet is to look for a retest of that 2.13 area soon.

 

given market conditions I would rather miss an up move than get bit.

word on the street is that cramer is having a rundown of the gaming stocks tonight

 

 

definately worth watching (then probably FADE his action)

 

btw, looks like their going to "raid the whorehouse" AGAIN today with the premarket action in Shitty Corp (C - nyse) and Skank of America (BAC -nyse)

 

wonder if they will change the name of the new Mets ballpark from Citi Field to Whitestone (closest Flushing neighborhood to the park)  Taxpayers Field or W T F for short?

 

 

didnt see it, but apparently he is on itunes now, ill probably download it after I see what the gaming sector does this morning

LVS back down to 2.30 (intraday low) with one hour to go friday.

 

WYNN with a new 12 month intraday low of 20.92

 

MGM with new 12 month intraday low of 3.55. the Fitch bond rating agency cut their rating further into "junk" because they borrowed the remaining funds from a credit line.

 

 

MGM doesn't have the volume action of LVS BUT it's also getting down to "salvage value" here and could be worth a nibble for a trade.

 

BYD holding up pretty well above $4 while IGT broke back under $9 and is on it's intraday low of 8.76. both stocks still holding above their november lows.

 

 

 

 

 

Lerinkrat, nice call on selling LVS yesterday.

 

Are you still holding out for 2.13ish to rebuy or are you staying away from this now?

went long 5k LVS @ 2.30 for a trade. may see a retest of the wednesday 2.13 BUT also could bounce like thursday. will see what happens. I'm willing to add IF it makes another new low next week.

 

will be a buyer of MGM also IF it gets down to LVS levels.

I am tailing you here...I bought back all my LVS shares for 2.30.

 

I also picked up more DRYS for 3.45.