Has Mr. Rothstein Even Applied for a Gaming License? Chess Moves

I just went short LVS at $55.34 with a cover-stop over $58.70, looking to swing it for another leg down in its current weekly downtrend. This position equates to roughly 4% of my trading portfolio capital. 

LVS is a name I have profiled many times over the past year or so as consistently being an actionable short idea. Long-time readers will recall the major topping pattern we observed last year around this time. 

And that top has led to a fresh downtrend which has yet to show signs of slowing down, despite how many calls out there have been for the "worst to be over in Macau." We will only know if the worst is over when the market says so. 

On the updated weekly chart, below, I am simply playing the downtrend to push lower yet. The recent bounce attempts have been sold, and there is room to drop to the weekly lower Bollinger Band before we see oversold conditions of any note.