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casino stock new lows Feb 19th

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Posts: 34

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Feb. 28, 2009 - 1:07 PM ET #26

I also picked up more DRYS for 3.45.

been keeping an eye on the DRYS. agree with those that say the ocean freight STILL has to move even in a recession. question is what entry point? how LOW can it GO?

FDX in the low 40's is also a "Holy SHIT is that CHEAP" transport stock.

LVS finished friday almost on it's daily low at 2.28 but did get an after hours bounce to 2.35. will see what happens monday.

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 2, 2009 - 2:35 PM ET #27

starting to look like LVS is "washed out". intraday low of 2.15 monday morning BUT holding above that 2.13 12 monthand only down slightly vs the others in the sector esp MGM and WYNN which are both getting clobbered AGAIN.

not enough decline to add any LVS but MGM sure looks interesting here @ it's intraday and new 12 month low of 2.78 which is around it's split adjusted low in 1992

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 2, 2009 - 3:24 PM ET #28

btw, both IGT and BYD look like their headed for a retest of their November lows. IGT intraday $7.89 low vs $7.03 and probably another "source of funds" stock for the gaming mutuals. BYD intraday 3.75 vs 2.81.

sean2114

All-Star

Joined: Apr, 2007

Posts: 11689

Posted: Mar. 2, 2009 - 3:53 PM ET #29

WYNN sitting at 17.75 almost 15% below its 52 week low

i got in at 23.45 and am now realizing i am going to be hanging onto to this stock for a while.

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 2, 2009 - 4:13 PM ET #30

just remember, "your FIRST loss is usually your LEAST loss" IF you on the wrong side of a trade.

WYNN could get LVS-MGM nasty even though they supposedly are in better financial shape.

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 4, 2009 - 2:50 PM ET #31

the possable default warning from MGM is clipping the whole sector Wed Mar 4th against an overall up market.

WYNN with a new 12 month intraday low of $15.61 the first hour BUT seens to be recovering late day.

MGM, for obvious reasons, with an early 12 month intraday low below $2 to $1.89 and is currently around $2.20 down about 20% from yesterday.

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 4, 2009 - 2:56 PM ET #32

LVS actually holding decent around 2.20 and didn't break the recent 2.13 low. looks like it's trying to base BUT any news similar to MGM would probably put them in the under $2 sewer.

same for BYD and IGT.

the bright spot is the two internets I follow, CRYP and GIGM. CRYP about even while GIGM up 8% and they are both still well above their november lows.

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 5, 2009 - 3:29 PM ET #33

just went long 5k of MGM @ 1.91. it's a gamble BUT it's even lower than LVS right now and hopefully will see a bounce soon. BOTH hitting new lows below $2

was going to add to LVS @ 1.90 BUT missed.

interesting that BYD is up on the day

LeRinkRat

Legend

Joined: Dec, 2001

Posts: 85256

Posted: Mar. 6, 2009 - 12:45 PM ET #34

was going to add to LVS @ 1.90 BUT missed.

sure glad I "missed". freeking stock hit 1.56 friday morning and is currently 1.70. gotta wait for SOME sign of life from this thing before I add any more

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