first of all, nobody is expecting it to go back to 130, or even 100, or even 30...7 to 10 would be good for most current bulls. and secondly, u have the WRONG chart.
This game ends now. I shorted a bunch at 5. Its time to say goodbye to Las Vegas Sands. It never was a good casino anyway. Have you ever heard your friends bragging about going to this place? Where is Baron now? He sold his shares and left for Europe leaving the bears to rule the day. Time to short and ride this thing down to the pinks...
I know its the wrong chart. I posted that chart for a reason. The reason is to demonstrate how all sh*t bounces if it hits the ground hard enough. This wont go back to 7 or 10. It wont make it. Its simply a dead cat bounce after a large selloff. Look at LVLT and look what happened. LVS is now a broken company, a broken stock. It will continue to wonder about until it either goes to the pinks or lingers in the low single digits...
I have no positions on LVS right now, but you may be missing an opportunity of a lifetime. the casino industry is a very powerful money making machine. u have to keep in mind LVS got all it's money back for Macao Venetian in one quick year. Now that is absolutely amazing, that tells u a lot of the mighty gambling industry.
Not right now....the gaming industry is on life support. Lots of bankruptcies and casinos shutting their doors. The Cal Neva here on the beautiful shores of Lake Tahoe recently went up for auction....no offers. Silver Club down in reno closed their doors, Flamingo etc...... Not a booming industry as it once was.....will it come back...of course....but not until the american consumer comes back....and that may be quite a while away.
Have been riding the swings since the November low (currently net long a little over 2.00, and also like the play but perhaps for different reasons then most posters have. Because at this time Im looking for the market to top sometime in the fall and head to new lows I dont know how good I would feel about LVS in the long haul even with an inflation push but it certainly looks like it could do some decent outperfomance in the intemdiate term. Whether or not its a dead cat bounce or for real you can gaurentee that there are a lot of dumb people who are thinking it will go back to 100 by next year and sometimes hitching your wagon to those mania freaks is enough to pull you along to a point where you can build a fully protected option floor below and then flip it right before the lights go out or lights go on. Good Luck all
the industry is definitely consolidatin. those small time casino's were already operation on slim margin even before this crisis economy. BIG giant casinos like lvs, mgm and wynn basically took their business away. a gambler knows they are going to lose any ways, mind as well lose it at the most extravagent luxury place. It makes them feel they got something for return.
LVS continues to sink lower. This is a company that is on the brink of bankruptcy where either it will stagger about in the low single digits for years to come somewhat like LVLT or suddenly there will be a press release declaring Chapter 11. Sarbanes Oxley didnt make anything any better. Shareholder lawsuits only recover pennies on the dollar if anything at all. Good time to sell your shares, good time to short.