Saturday, May 9, 2009

LVS appears to have Topped out.

Weekly: crossed > 50 rsi, that's about "the" most bullish move possible you can expect to get, especially on LVS. ( hangs barely above, which is massive downside potential)
Daily: Backtest from below of prior rsi support
30min: Backtest from below of prior rsi support

I kinda hope it does not gap down big on Monday. (even tho I think it probably does, dangit). Because I would like to get a gap up or flat to enter to purchase some May 10 puts on this one, to grab that sweet OTM-ITM crossover, then ring the register.

Add this one to Ideas of the Week


  1. LVS still looking good to you with the bump today? The large short% to float worries me some.

  2. I own some may 10 puts @ .35 via today

    (small play here though, as its very close to expiration)

    The short float data is updated twice a month, so that data reflects April 15th (as it says AprilB)

    If lvs had not moved much since then, no way i would be shorting it here. But it rocketed alot, so the short float is likely much lower than that today.

    If any trade worries you, it's not worth trading.