Thursday, September 23, 2010

Bookkeeping: Adding to Las Vegas Sands (LVS)

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Ignoring the greater market which has me now officially twisted in knots, I am going to follow up on a post I wrote late yesterday on a potential breakout in Las Vegas Sands [Nice Base Building in Las Vegas Sands]  I wrote:

Unlike many stocks which are extremely overextended, Las Vegas Sands (LVS) has been doing little the past 2 weeks.  In fact it is on day 11 of creating a narrow base.  From these bases we tend to get substantial moves - the question of course is in which direction.  If the S&P 500 itself were not so extended, this would be a very appealing place to jump into the name... a close above $33 would be a nice signal that the stock might be ready to embark on a new run upward

It broke over $33 today so I'm going to buy to add to my holding stake of 0.1%.  Since my long exposure is so lacking I'll make this a large purchase of 3% exposure.  I am hoping Las Vegas Sands announces a cloud computing initiative in the next week so it can double in value.  Or maybe Hewlett Packard will buy it Monday since HPQ is buying one company every 3 days to distract us from the Hurd fiasco.


Until the broader market begins making some sense to me I'll just ignore it.  I was sure this morning was the start of the "break out and then trap bulls" move... not so much.

Long Las Vegas Sands in fund; no personal position


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