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so WHY has the market been "happy for the gamers" lately?

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Legend
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Posted: #1
I see articles like this and I wonder how much longer this recent spike in gaming company stocks like WYNN, LVS, MGM and BYD is going to last. yes WYNN and LVS have had some "news" about Macau that moved them BUT the overall American domestic market and esp Las Vegas still pretty much SUCKS.
 
AP: Sunday July 26th
 
Hard Rock hotel expands as Vegas operators struggle to fill rooms above fire-sale prices
 
 
bottom line is Las Vegas is WAY overbuilt and the room rates are in the SEWER. in the past that would mean more traffic BUT with the consumer worried about their job and pretty much tapped out, I'm seeing pretty much empty locals casinos and talking to neighbors that work for strip hotel-casinos, their volume is DOWN.
 
Boyd Gaming (BYD), which is somewhat of a key indicator for the Las Vegas local operations had a loss last quarter and reports again August 5th. I personally DON'T expect any improvement unless they pull some "special situation" accounting bullshit.
 
All-Star
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Joined: Mar, 2006
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Posted: #2
noticing a lot of buzz over the macau offering . 
 
Covers Linesmen
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Posted: #3
Well they are acting like a future economic indicator, going up huge in anticipation of potential consumer spending.

One thing for sure, going short the market is fighting a losing battle, they turned it just now and everything shot green..

FAZ hitting a 52 week low, getting smoked again.

Seeing that low on LVS makes me want to puke, same with Avis.
 
Rookie
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Joined: Nov, 2005
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Posted: #4
not a gamer but i got short UYG at 3.86, considering gettin out w- current momentum instead of avg. up. this one stinks so far.  any thoughts?
 
Veteran
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Posted: #5
Quote Originally Posted by LeRinkRat:

I see articles like this and I wonder how much longer this recent spike in gaming company stocks like WYNN, LVS, MGM and BYD is going to last. yes WYNN and LVS have had some "news" about Macau that moved them BUT the overall American domestic market and esp Las Vegas still pretty much SUCKS.
 
AP: Sunday July 26th
 
Hard Rock hotel expands as Vegas operators struggle to fill rooms above fire-sale prices
 
 
bottom line is Las Vegas is WAY overbuilt and the room rates are in the SEWER. in the past that would mean more traffic BUT with the consumer worried about their job and pretty much tapped out, I'm seeing pretty much empty locals casinos and talking to neighbors that work for strip hotel-casinos, their volume is DOWN.
 
Boyd Gaming (BYD), which is somewhat of a key indicator for the Las Vegas local operations had a loss last quarter and reports again August 5th. I personally DON'T expect any improvement unless they pull some "special situation" accounting bullshit.


  Rink

When you and I agree be ver,y very, afraid...

 Maybe Vegas will see the light and go the way of Cali and legalize herb...that would be a game changer.


 
Legend
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Posted: #6
interesting monday. against an overall slightly down market, the "Macau Monsters" of WYNN and LVS are up (but well off their opening highs) while MGM and BYD, with heavy Las Vegas exposure, are flat after spiking early. was able to get 2k of LVS to short from TD although I haven't pulled the trigger yet.
 
STILL looking for that "snaproll reversal" day where the gamers spike up early and end up down on the day. today? I don't know BUT WYNN  almost hit $50 on it's open ($49.66) and is now back to $47.46 up just 0.17 @ 1:00 est.
 
will see what happens.
 
Legend
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Posted: #7
LAS VEGAS, Nevada –- Harrah's Entertainment finished the second quarter ahead of analyst expectations, benefiting from cost-cutting and strong performances from the company's markets outside Las Vegas and Atlantic City
 
Harrah's is a privately owned company controlled by a bunch of LBO jerkoffs who bought it AT the TOP of the market. their the Chrysler of gaming. leveraged out their ASS.
 
 
Legend
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Posted: #8
also interesting that non-Vegas/AC gaming company Pinnacle Entertainment (PNK-nyse) reported net income of $4.7 million, or $0.08 per share although those results include a gain of $12.9 million from the sale of equity securities. their primary "cash cow" operations are in Louisiana which seems to be holding their own vs other compaines Las Vegas and Atlantic City operations.
 
BUT after an opening spike to a high of 11.49, it closed flat @ 10.64 + 0.04. considering that's a move from 9 last wednesday, could just be "sell the news" profit taking. put it on my stock watch because it's worth watching.
 
Legend
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Posted: #9
OK so WYNN reports an unexpected profit from it's Macau ops thursday July 30th and the stock goes NUTS straight up in the air (6+ points) dragging the other games with it BUT "where's the beef?" for these other operators esp theose like MGM and BYD that are heavy in Las Vegas and Atlantic City?
 
I just shorted out 2k of BYD @ 9.25 they report next week and I would think they are gonna SUCK from what I have seen here in Vegas.
 
Covers Linesmen
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Posted: #10
Fighting this tape is brutal but I think you are right.

How can some stocks be hitting year highs and such in the middle of this mess?

I have an order in to buy some FAZ today, but even though the group is near the high, buyers are nibbling so I wont get filled today.

WYNN over 50 is premature for sure..
 
Legend
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Posted: #11
interesting last half hour, walls. LVS, BYD and MGM hit their interday highs around 3:30 est with WYNN close to their opening high. they ALL went straight south from there. was almost a "snaproll" reversal.
 
could end up being a "one day wonder" like last friday and infact as we speak, LVS reported a loss and the stock is getting pounded in the after market.
 
I KNEW I should have been in there when it hit 11.40. that was close to the spike high monday BUT WYNN's "Macau Madness" scared me 
 
in any case I got off that 2k ss on BYD @ 9,25 so will see what happens with that.
 
Legend
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Posted: #12

Jul 30, 2009, 4:22 p.m. EST

Las Vegas Sands second-quarter loss widens

 

https://www.marketwatch.com/story/las-vegas-sands-second-quarter-loss-widens-2009-07-30

 

I love THIS line....   "Excluding one-time items, the company would have reported a profit of $8.8 million, or 1 cent a share." fucking Sheldon Adelson trying to humbug his results

 

stock hit an interday low of 10.20 in the after market. current around 10.40. even though I was too big a feigling to short it out when I SHOULD have, I hope it takes a pounding tomarrow AND takes the rest of the MGM and BYD "piano players" with them.

 
Legend
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Posted: #13
FUCK BYD. God Damn stock is just TOO FUCKING THIN to TRADE. going down nicely like I expected and THEN @ 11:30 the traders go "coo-coo for coaco puffs" and bounce it back to even @ 9.15.
 
I fucking covered for a small profit
 
LVS down almost 2 points and MGM down below 7 and THIS asshole acting like it's mother fucking WYNN.
 
oh well, I covered so it can TANK now
 
Legend
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Posted: #14
the local PBS show Nevada Week in Review, which usually has pretty good info on what's going on in local gaming here, had a bit Saturday Aug 1st about Stations Casinos which, along with Boyd Gaming, is heavy in the Las Vegas market. their Chief operating Officer claims there casino ops are currently PROFITABLE.
 
so I guess we will see what BYD reports this Wednesday. "anal"yst estimates I have seen are for around 12 cents a share.
 
Legend
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Posted: #15
well MGM reported a big loss monday and after first getting clipped in the premarket it's UP on the NYSE opening.
 
when THAT type of shit happens, the traders are definately GAY for the GROUP
 
Covers Linesmen
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Posted: #16
Well they love the beta right now Rat and that means commodities, Vegas stocks etc etc.

WYNN up 5%, over 50 again, LVS also up 5%.


 
Legend
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Posted: #17
running in the gaming shorts again tuesday. MGM back over 8 even with their reported loss yesterday which over 32 million traded @ 12:30 est. it's a NYSE most active along with LVS.
 
and WYNN over 58. that's almost a double since early july.  
 
don't know IF I would go long here and try to "catch the wave" BUT I sure would short them and fight the tape.
 
BYD reports wednesday
 
 
Covers Linesmen
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Posted: #18
Rat,

That is crazy..getting in front of this tape is suicide, all gamers are running like crazy.
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