Wednesday, October 27, 2010

Bookkeeping: Selling Half of Las Vegas Sands (LVS) into Earnings

Mark: "Dear sir, I'd like to cash in half my chips on Las Vegas"

"But the night is young"

Mark: "How do you know? You don't have clocks in this place."

"Lady luck has been on your side with these chips"

Mark: "No, it's more like a bearded man who insists assets must be inflated at all costs"

"Please come again"

Mark: "Technically I am still here......just half way.  Now stop bothering me or I'm headed to Wynn."

I have just sold 50% of Las Vegas Sands (LVS) going into earnings tonight - the stock is elevated, and nowhere near support but it certainly could "Riverbed" in an hour or so.  But after buying on a breakout over $33 en masse mid September, I've liquidated here and there along the way but thankfully kept a good portion along the way.  I do not wish to give back my 25% gain on those shares so I'm taking half and will put the rest on red.  Or black.  Wait, no one loses in this casino anymore... 

Update 4:20 PM - great results ...34 cents vs 21 estimate.  Stock near $45...looks like a Riverbed day tomorrow.

Long Las Vegas Sands in fund; no personal position


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