Home > Uncategorized > Being Specific

Being Specific

  

 

 

The casino stocks showed great buying pressure in today’s price action with LVS, MGM and WYNN all make new 3 month highs. I follow LVS the closest which had a great morning session with a strong ORB which continued as the SPY continued to make new highs for the first 3 hours of the morning. Of course the frist profit target one could expect from the OBR of LVS was the daily and hourly resistance around the 22.40 area; which LVS broke through and continued higher to test the 23.00 figure. The interesting move came in the afternoon session where trading became very stock specific as the SPY was not able to make new highs. LVS gave us great point to manage risk which was a break above the 23.00. This trade did require patients and execution of our trading plan, you don’t know which one will workout.

Advertisements
Categories: Uncategorized
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: