Thursday, July 8, 2010

Bookkeeping: Selling 90% of Las Vegas Sands (LVS)

I threw 1% into Las Vegas Sands (LVS) late last week on the flush down session Thursday.  The stock has rallied a solid 8.5% since so I am going to sell 90% of that stake and go back down to the minimal exposure I had going into last week.  I should have put more into the trade but then again very few people were buying anything that day so we'll take the gain and be happy about it.  The stock is now hitting some resistance areas, but this stock is so HAL9000 infected I don't dare short it.  It could be $20 or $27 in 3 days... we could rename it Quadruple Ultra S&P 500.

(as an aside I had a limit sell order at $23.70 I put on this stock last night which indeed was the exact high of the day today, this would have given me about a 10% gain, but there was not enough volume at that price point in the real world to trigger the trade in the model portfolio - bummer.  5 cents less and it would have been perfect.)

Long Las Vegas Sands in fund; no personal position


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