MGM - Anyone else long and trading it?

Discussion in 'Stocks' started by KCalhoun, Apr 29, 2009.

How Are You Trading MGM? (if you're trading it)

  1. Swing trading long

    3 vote(s)
  2. Day trading in and out, long/short

    1 vote(s)
  3. Shorting it

    5 vote(s)
  4. Not trading it at all

    8 vote(s)
  1. KCalhoun


    I've been trading MGM since late last year; looks like good news after this afternoons' halt, will likely gap up tomorrow, I'll sell the gap up on any weakness, and likely daytrade it again throughout the session...

    Anyone else trading MGM? I'm long MGM and will be trading it, WYNN/BYD/LVS as usual throughout the days and weeks ahead.

    I'm very bullish long-term MGM recovery for position trades, which is why I bought it for my SEP in addition to trading it in my daytrading/swingtrading IB acct. -- In fact it's my #1 stock pick of the year. Remember I said this... :)

  2. I am in as well.....this is one my favorite stocks to trade.......looks like someone else knew or were betting this was going to take place.....some big bets were made on apr..17
  3. Same here. I think we should buy and hold for longer term too.

    My husband doesn't trade much and make good $$$. He waits and buys really cheap stocks and don't sell right away. Look at weekly chart to determine target price.

    He is buying stocks related to pork. He said buy when people are dumping.
  4. To give you an example, he purchased ESLR at about $1.25 and still holding.
  5. KCalhoun


    glad to see MGM's 2+ point gap today! sold into gap up, then re bought w/trailing stops.
  6. shorted at 9.5 on pre-market and covered 8.5 an hour ago :)

  7. KCalhoun


    Good play -- trading inside the 10.0-8.5 trading range likely good for day trades...!

    I'm loading the boat, though I thought it was a deal back at 10, before it dropped to 2.. it's risky. Should be interesting to see if it fills the gap to the downside between 6.5 and 8 during the days ahead, or if it continues up. What I like is the record high volume on the gap+ today.

    to profits,

  8. Draw the trend line on the weekly chart we can see that the downtrend is broken an now it's moving up higher.

    Look at the weekly chart, next resistance is $12 and then $17, then $21.
  9. KCalhoun


    ca-CHING! nice to see my MGM's in the money, sold off most here in the high 8s, re-buying on strength.

  10. Ken.So you will not be in for the earnings....I am expecting positive earnings....No reason to release so early...unless you are trying to game the shorts....Could be a big week with LVS and WYNN repoting as well.......

    #10     May 4, 2009