Thursday, September 23, 2010

Bookkeeping: Adding to Las Vegas Sands (LVS)

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


Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012