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Casino Stocks On Sale...

Discussion in 'Casino Industry & Development' started by Dean Martin, Mar 5, 2020.

  1. Dean Martin

    Dean Martin VIP Whale

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    Anybody buying? Bought some MGM this morning. LVS, MILCO and WYNN on sale too.
     
  2. Vegas Pilgrim

    Vegas Pilgrim Low-Roller

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    Not yet. Airline stocks even on bigger discounts. Always tough to catch a falling knife. Went all in after huge drops in 08, figuring it can’t go much lower. It did. Dry powder does give piece of mind.
     
    • Agree Agree x 5
  3. Nevyn

    Nevyn VIP Whale

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    How long a ride are you willing to hold for?

    They could be a good buy on a long enough time horizon, but the risks causing them to drop could be felt for a year or more.
     
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  4. Chuck2009x

    Chuck2009x VIP Whale

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    Too early for me. I had my WYNN at $100 alert trigger this morning, that's the only one I really follow on a regular basis, because it has a lower float and bigger moves.

    I'm mostly long-term investing at this point, but I keep a little cash reserved for sniping. I would never invest long-term in a gaming co, only short-term trade. WYNN at $100 is tempting under normal circumstances, but I want a ridiculous, ridiculous price.

    WYNN should have at least some support here, the combo of $100 and 4% yield has saved it before. But there's a gonna be a push-pull between whether the worst is over in China (which is where most of their exposure is) vs. what's ahead in the US.
     
    Last edited: Mar 5, 2020
    • Informative Informative x 1
  5. RichL58

    RichL58 Tourist

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    I stared to a small position in Royal Caribbean stock this morning $67.50, will be adding at every $2.50 drop.
    Way oversold, may take a few quarters.
     
    • Wow! Wow! x 2
  6. VegasBJ

    VegasBJ VIP Whale

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    CCL ( Carnival) also super cheap right now at $28.41
     
  7. Hitmaxbet

    Hitmaxbet Low-Roller

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    Wynn stock at around 85-90 I will certainly jump on it if it does go that low....

    Non-Casino--
    I also like Alibaba stock drops to 195 I'm jumping on it
    3M--Big contract coming up

    Lets hope
     
    Last edited: Mar 5, 2020
  8. HHFan

    HHFan Low-Roller

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    I don’t think the full impact is priced in quite yet, so while it certainly looks tempting with how much they’ve dropped there’s still plenty of room to go lower. The travel industry is just starting to feel the impact in the US.
     
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  9. black29

    black29 Tourist

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    No way would I touch a cruise ship stock, nor will I be using my MLIFE cruise this year.

    LVS low was $2.28 in 09, at $54 today, it is overvalued based on all the uncertainty, and with a case now reported in Vegas...we could see them start falling even faster.
     
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  10. motownbob

    motownbob Low-Roller

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    With nothing but bad news most days , I will stay put in my mostly cash position since I bailed wed. Did buy some Silver and gold today. And I don't see much room for good news in the near future, at least. I normally hang tight, but I think this is going to be a long, painful drop.
     
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  11. jpw711

    jpw711 Is that your cat?

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    I bought a little wynn, I'm wondering how much farther Disney is going to fall.
     
    surely this won't go kaput
  12. 93 Octane

    93 Octane Chief bottle washer

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    Disney has been dead money for 5+ years, mind boggling.
     
    Said I wasnt going back this year but you know how that goes
  13. smerrian

    smerrian View from Bally's

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    I'm waiting a little longer for cruise line stock...NCLH and RC. People forget everything given a few months. Once this gets under control, and it will, a few months later people will barely remember why they avoided a cruise.
     
  14. willslotforcash

    willslotforcash Low-Roller

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    I wouldn’t buy stock in a cruise line until after the meeting VP Pence is having with the CEOs of larger cruise lines this Saturday.
     
  15. BACHTravel

    BACHTravel Tourist

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    One day we will look back & reminisce about the bounty of riches we would have made had we bought stock in airlines, cruise lines & casinos on such and such date. But it could get pretty hairy if you guess wrong on what that date is. :(

    Hold on, this board is about Vegas, isn't it? So I must withdraw my conservative take! It's time to back that truck up - BUY BUY BUY!!! :headbang: (not)
     
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  16. AyDee

    AyDee is getting too old for this

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    I believe the question is whether
    The Market Can Remain Irrational Longer Than You Can Remain Solvent?
     
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  17. Dean Martin

    Dean Martin VIP Whale

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    This is my Etrade account I use for trading....not 401K accounts. I actually sold (at a loss) about 5 minutes before the market closed yesterday. I was working and had CNBC on and they announced the first case in Las Vegas and that was all I needed to hear.
     
  18. NCAAHoops

    NCAAHoops High-Roller

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    Pre markst shows another big down day today
     
  19. Dean Martin

    Dean Martin VIP Whale

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    It's (Wynn) getting close....
     
  20. Golfer

    Golfer Low-Roller

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    Implied open higher than last contract trade on the most widely followed indicators. All about 3%. IMO, meaningless, the last 20-30 minutes is when moves are made, the opening has a lot of retail trades intermixed w/ major mm's. What is interesting though is there seems to be market inefficiency with respect to trackers that track the broader market, and things such as DJX, which more people follow for whatever reason, so change is eventually coming, and this in one signal that it might be coming a bit quicker than what is being reported.

    I watched overnight dark pool trading all last night, and I can see what I presume are banks and larger institutions not only rebalancing and risk managing, but starting to make what appears like long plays, albeit hedged.

    It's all fascinating to me, and I've obviously been selling to close my VIX insurance calls at huge gains, and starting the begin the process of where to plunge in my cash. No rush, nothing to be alarmed about.

    This is one of the best markets in recent memory for opportunity, depending on how one was (not is) positioned.
     
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