Trend in Las Vegas Sands (LVS) Bodes Well for Economy
09/10/2009 12:01 am EST
Lots of “doom and gloom” talk this week about the US dollar and national unemployment may have investors wondering where to put their money.
Las Vegas always comes up as the poster child for how one city has been affected by the bad economy, but traders know this spells opportunity.
Las Vegas Sands (LVS) has quietly been in a short-term uptrend (albeit with lots of bounces) and traders are beginning to notice:
If we’re to assume that what’s good for Vegas is good for the stock market, there appears to be a short-term buying opportunity for LVS. Keep your stop loss tight though—this isn’t a trade to “set and forget!”
But for traders with a larger risk appetite, they may want to bet on LVS, at least for the next five or six days.
By Tim Bourquin, trading content director, MoneyShow.com