An Apolitical Inauguration Play
Love it, hate it, or phlegmatic to it, the inauguration of Donald J. Trump as forty-fifth President of the United States will take place on Friday, January 20th.
In terms of "Inauguration Day" stock plays, it may be a stretch to overdo it. But MGM does have a brand new property down in Washington Harbor, not far from the White House. In addition to being a hot new place to go, I suspect the plethora of visitors in town will at some point make their way over there if only to check out the property and perhaps eat, drink, and gamble.
MGM has actually been holding up much better than LVS and WYNN of late, making the idea more attractive, especially over $30--A daily chart will reveal that MGM is still holding above all major rising moving averages, for example.
As for the broad market, biotechs and some healthcare plays are giving the rotation thesis a shot, even as small caps lag and overall momentum is uninspiring.
More in my recap after the bell.