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July market discussion

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Legend
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Posted: #26
big "scare da bear" in the gamers today BUT I don't think it lasts. added 1k @ 7.64 to my LVS short.
 
btw, FRPT down on the day with an early interday low of 4.50.
 
Covers Linesmen
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Posted: #27
rat,

Yeah I am considering even waiting on my 4.50, it isnt acting very well.
 
Legend
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Posted: #28
LVS humbug about spinning off their Macau holdings in an IPO and news that they "topped out" the Singapore construction which means they are on track for that early 2010 opening probably is what jacked the stock today BUT as George Soros stated "Sands seeks to spin off Macau assets...well, that's the Spin BUT that "Spin" is probably a Yarn"
 
that being said, I covered @ 7.38 because they may catch some shorts here. I STILL like "the dark side" on the gamers BUT could see some more run here, esp in LVS with all the BS, and get off a better price.
 
btw, from everything I see and hear, the Las Vegas market still SUCKS
 
Legend
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Posted: #29
looks like it's gonna be "LVS, eat my shorts" instead of the "day trader dump" the last half hour. hold steady around 7.50 which probably maens the shorts get run late.
 
will see.
 
Legend
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Posted: #30
well "Da Rat" is definately NOT ready to be the LVS floor specialist. stock closed @ 7.40 with 2k bid @ 7.42 after hours.  
 
see what happens tomarrow
 
Veteran
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Posted: #31
The Nevada Gaming Control Board reported on its website that gaming revenues for the month of May showed a smaller decline than in April, sending casino stocks higher during Thursday trading. The state's gaming revenues fell 8.34% in May, less than the 14.07% decline recorded in April, and are currently off 13.71% year-to-date. The Las Vegas Strip was down 6.36% in May and 15.31% year-to-date. Las Vegas Sands Corp (NYSE:LVS) rose 12.3%, Wynn Resorts (NASDAQ:WYNN) rose 7.4%, Ameristar Casinos (NASDAQ:ASCA) rose 3.7%, Boyd gaming (NYSE:BYD) rose 5.1%, and MGM Mirage rose 6.2% during Thursday intraday trading.
 
Legend
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Posted: #32
gaming revenues for the month of May showed a smaller decline than in April
 
all fine and dandy BUT every time the mrs and I go out to the locals joints they are EMPTY. can't speak for the "strip" operations because we never go there BUT a neighbor works at the Luxor and she says after a slight pop during "march madness" this spring, their traffic have been flat.
 
one key I have been using is the weekly "Nevada Week in Review" show on our local PBS channel out here. they have been pretty good at calling the gaming industry and the commentators on there are still pretty bearish short term.
 
I still think there is "power in the dark side" in these stocks. I think todays LVS move was more about using that Macau IPO and Singapore news to run in some recent shorts. they closed @ 7.40 with a spike move to 7.59 after hours BUT I wouldn't make their upside much more than 8 TO 8 1/2 here.  
 
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Posted: #33
From what I have read and anecdotally heard from friends returning from LV, it is dead and will likely remain so for quite some time...
 
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Posted: #34
 Speaking of that what number does anyone trust regarding "amount of American consumer wealth destroyed? I see 12-15 trillion bandied about, but three trillion bux, although DC does not know it, is a lot of bux...anyone have a source for this number?

 
Legend
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Posted: #35
flipped the gamers friday after their "one day wonder" yesterday. just goes to show how internally weak this market is right now. will see IF LVS retests that 6.32 wednesday low.
 
other recent lows...
 
MGM 5.34
BYD 7.44
WYNN 29.05
 
all on wednesday July 8th
 
Legend
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Posted: #36
covered the LVS @ 6.92 because it looked like it might get little bounce which it did to just over 7 and tried to hit it again BUT TD has NO STOCK again. first time I have seen that at THIS LEVEL.
 
there stock loan said they were also tight on MGM.
 
if the "retail riff-raff" are shorting, could we get a rally? I wouldn't play it BUT could get future sells off higher
 
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Posted: #37
So who here thinks this "bank" leveraged just a little bit too much-

link

60 buck stock two years ago, 59B in debt versus .5B in cash.

Those sound like sweet ratios to me.


 
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Posted: #38

I got an idea, let's make sure the taxpayer owns it...looks good compared to the other crap on the Fed's balance sheet....

 
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Posted: #39
Quote Originally Posted by Vermeer:


I got an idea, let's make sure the taxpayer owns it...looks good compared to the other crap on the Fed's balance sheet....



They wouldnt have been sucking off TARP if they hadnt leveraged like they did, in fact TARP for wallstreet wouldnt exist if these firms hadnt engourged themselves.
 
Veteran
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Posted: #40
 True... doesn't the fact that the GS cabal has made sure that we are going to assure their past larceny and countenance their ongoing fraud  give you the warm and fuzzies?

 



 
Covers Linesmen
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Posted: #41
Yeah but lets look at the creation and why, not the after effects.

If the banks/firms hadnt over leveraged we would be here period.

Also, keep in mind that the public GS is only about 1/3 of the total entity.

They didnt need the cash.

Looks like they are going to hold that 875 again today on the SPX.
 
Veteran
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Posted: #42

While the "creation and why" is important, it is yesterday's news, and essentially quite understood.

 The real issue going forward is the response by the current regulators, who, it is essential to note, are the same people, from the same firm...GS.

  It is news that GS is going to make money?? I did not know it took Meredith Whitney to announce that...LMAO.



 

 

 
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Posted: #43
Vermeer,

Yeah she is an analyst I guess and it surely moved the markets, the KBE is up 4.5% and the SPX moved over 2% since this morning.

Here are a few awesome investing opportunities I found today-

Housing market UP

Housing market DOWN


 
Veteran
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Posted: #44

 What the????  I think I saw a guy on CNBC flogging the idea behind these things the other week...ack...looks toxic to me, I am feeling a bit queasy after looking at them LOL.

By the way el Erian's  When Markets Collide is worth a read if you have not already...it is going to be a bumpy ride...

 

 
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Posted: #45
So how many FAZ guys are there still?

Down 15% today, probably a buy day for averaging in being that pre-reverse split that it is trading at 4.78 or so.
 
Captain
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Posted: #46
Nice day in the market today. Anyone got an opinion on TWI? I read yesterday where one of the top funds continues to load up on this one which prompted me to look at it. Below are some comments from the CEO made back in April about 1st qtr results. I love his "Katie bar the door" reference.
 
Large farm tires and wheels were selling well in the first quarter of 2009, along with Titan’s new super giant mining tires,” said Titan Chairman and CEO Maurice M. Taylor Jr. “It is difficult to predict what will happen moving forward. The price of corn is holding and soybeans are up, so the agricultural market looks good, but are the farmers going to keep buying with all the uncertainty in the economy? I don’t know. The orders for second quarter are good, but lead times are much shorter today than six months ago. All of Titan’s material costs are dropping except nylon,” said Taylor.

“There is no shortage of giant mining tires today and pricing has dropped by at least 25 percent because of the drop in material costs. Natural rubber is projected to drop from approximately eighty cents today to fifty cents by the end of the year. In September 2008 it was one dollar and fifty-two cents.

“The great news in all of this is that it’s time everyone really gets down to working hard and smart. Since Titan has been running at an SG&A level of five to seven percent, we are set to grow our market share. Titan will be making improvements in every product we make, and I will be visiting every customer I am able to this year. Titan can use this environment in order to grow our market share, but if this economy turns up, then ‘Katie bar the door,’ for the good times will be back,” said Taylor.

 
Legend
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Posted: #47
they have run the hell out of LVS the last two days from low 7's to almost 9. still oodles of shorts in the stock (TD still has NO stock to borrow) so it could go higher BUT should also be getting up against a resistance here.
 
think an alternate short is BYD here just over 9. not nearly as active as WYNN, LVS or MGM but when the group has turned down in the past they have "taken this piano player too". ss 1k @ 9.10
 
for all the bs about Macau the last couple days, I still don't see any recovery in Las Vegas and, I suspect, in the other domestic gaming destinations like AC in the near future
 
Legend
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Posted: #48
also have an order in for 1k of QID @ 30 in my IRA
 
Covers Linesmen
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Posted: #49
you are 7 pennies from getting filled on the QID, it happens today I bet.

FAZ hitting year lows at about 4 bucks..they are running these financials like crazy.

I also noticed Nat gas on a big run today..like 8%.
 
 
Legend
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Posted: #50
got a QID fill @ 29.98. will see what happens
 
this whole "nothing to worry about, everything's fine" rally is because "Nouriel Roubini, the economist whose dire forecasts earned him the nickname "Doctor Doom," is now saying that the worst of the economic and financial crisis may be over."
 
Ya RIGHT!!!
 
he ALSO says "the US may need a second fiscal stimulus package of up to $250 billion by the end of the year to boost the deteriorating labor market"
 
AND ""Oil could be closer to $100 a barrel towards the end of this year, this could be a negative shock to the economy,"
 
Oh, Ya THINK?
 
I think all THIS move is running in the people that positioned short after all the bear shit was pumped LAST week. I doubt is will LAST
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