Hope nobody here is short. They're going up tomorrow. Might be a good long trade to get in pre-market. __________________________________________ Macau gambling revenue up for 4th month, new resorts attract visitors 38 Mins AgoReuters * Revenue gains indicate Macau turning a corner after slump * Macau leader pushes theme parks, shopping over casinos * Govt to increase regulations on operation of VIP rooms HONG KONG, Dec 1 (Reuters) - The world's biggest casino hub of Macau posted a 14.4 percent rise in gambling revenue in November, a fourth month of growth after more than two years of decline, as new resorts helped bring in more casual gamblers to the southern Chinese territory. More mass gamblers and visitors have made their way to Macau after multi-billion dollar casino openings by Sands China Ltd and Wynn Macau Ltd in the third quarter, leading to a gradual pick up in revenues. However, VIP clients - seen as high-rollers - continued to stay away amid Beijing's campaign against graft and shows of wealth by public officials. A specially administered region of China, Macau is the only place in the country where casino gambling is legal. In November, the casino hub raked in a revenue of 18.8 billion patacas ($2.36 billion), government data showed on Thursday, at the top end of analyst expectations for a 10-15 percent rise. The figure was a drop from the previous month, when revenue had been boosted by a national holiday week. Visitors and overnight tourists to Macau have increased in recent months and while analysts have mostly called a bottom to Macau's gaming revenue, some remain cautious on the sustainability and pace of the recovery for operators Sands China, Wynn Macau, Galaxy Entertainment, MGM China , Melco Crown and SJM Holdings Gross gaming revenue for Macau casinos is expected to be flat to up 10 percent next year, versus an estimated 3-6 percent drop this year and a sharp drop of 34 percent in 2015, said Sophie Lin, a credit analyst at S&P global ratings. "The opening and ramping up of new casinos, better infrastructure connecting Macau with mainland China, and stabilizing regulations are the major factors that will fuel a rebound in the gaming industry," Lin added. Macau's GDP grew 4 percent in the third quarter, the first positive growth recorded over the past two years, Macau's Statistics and Census Bureau said in November. Macau's chief executive, Fernando Chui, has previously said the gambling hub needs to do more to boost family tourism including building a theme park, in line with the government's efforts to rebrand Macau as a more mass-market destination. The government will, however, continue to increase regulations on the operation of VIP rooms and promote responsible gaming, Chui has said at the time. Macau's VIP industry is mostly managed by middle men, casino junket operators acting on behalf of multi-billion dollar casinos. But since 2014, their business has been hit hard with Chinese President Xi Jinping implementing an anti-graft campaign. Prior to 2014, revenue from VIP gamblers made up over 70 percent of total revenues. Now it is just under half. ($1 = 7.9810 patacas) (Reporting by Farah Master; Editing by Himani Sarkar)
This pattern is considered quite rare, but is useful in helping identify swing trades, rather than a trends.
Noooo. But I am cautious when it goes down. Been burnt one too many times. I think LVS is going way up.... but I can't F with it today. I hate losin bro, and I keep my losses to a min if they don't go my way pretty damn quick.
EG... so you think its done going down huh? Hmmm. I'm glad I got out yesterday when I did. I suspect next week a lot of money can be made playing it one way or the other. Its going to be a good trader. Gotta study up this weekend and figure out whats up. I wonder if Trump pissing off China over Taiwan will rattle the traders in these two stocks. Probably not. I don't see why it would. Macau is all Chinese customers anyway. Plus Steve Wynn and Donnie have a bromance going. More to follow. What's the chart telling you?
Truthfully I probably entered a little early. I will not have time to see Monday if it goes lower. I figure retracement of the move up should stop at low $60 range but I see an upside target of about $74- $77. I don't day trade so I am looking at weeks to hold this unless I get stopped out. I cannot watch the markets all day like some of you guys so I have to pick my spots and set my stop loss wisely. I expect a bounce around this level or low $60 at the lowest. If I am wrong...well so I lose this one. Risking 0.75% of account on the trade if stop loss is hit.