Macau is a huge driver for three big U.S. casino stocks. I’ve read that the gambling revenue from Macau is three times that of Las Vegas. It is a huge market. Macau sits on the southern edge of China, just across the bay from Hong Kong.
In this video I check in on Las Vegas Sands (LVS), MGM Resorts International (MGM) and Wynn Resorts (WYNN). Continue reading
The bulls are running on Wall Street but the breadth of the market in the move since November 4 has been weak. Friday was a great example. The DJIA was up 142 points with advancing and declining stocks dead even on the day…1496 up, 1529 down.
So this fifth wave up from March 2009 began in February and is now 10 months old. In March 2017 this market will be a Fibonacci 8 years old. We are at the top of this country’s greatest bull market.
This final cycle wave V started in 1982 with a huge upside explosion. As of Friday’s close the DJIA is up 18,979.93 points or 2,543% from the August 12, 1982 close of 776.92. Continue reading
The stock market pushed higher every hour today creating a solid trend day in the market and probably ran more than a few stops on the SPX. The DJIA was up 247 points today with the SPX up another 33 points and the Nasdaq up 89.
Advancing stocks led losers on the NYSE 3.3 to 1 and the volume was even more impressive with advancing volume leading declining volume by 8:1. The market has made a strong 3-day move of 3%.
In tonight’s video I look at the price action and talk about current scenarios. I also briefly check in on all trade ideas. Continue reading
In this Sunday Trade Ideas video I review the trade ideas that were entered and closed last week as well as those that are now open. These include Las Vegas Sands (LVS), Under Armour (UA), Visa (V), Alibaba (BABA), Chevron (CVX), Caterpillar (CAT) and Twitter (TWTR). There are two new trade ideas on Apache (APA) and Canadian Solar (CSIQ).
“It doesn’t matter how slowly you go as long as you don’t stop.”
– Confucius
All the stock market averages were down today as selling kicked in to start the week. The DJIA was down 179 points and the SPX down 20. The volume of declining stocks on the New York Stock Exchange (NYSE) was the highest since September 28.
At one point today declining stocks outnumbered advancing stocks on the NYSE by 8:1 but by the end of the day that had narrowed to about 4:1.
In tonight’s Weekday Market Wrap video we look at today’s selling and a couple of trade ideas. A new trade idea was entered on Las Vegas Sands (LVS) and a new one on Under Armour (UA) discussed. Continue reading
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