16Mar11:21 amEST
Squaring Up Before a Big Match; Chess Moves
I just covered up the final piece of my LVS short for a win, and my UAL short for a loss.
After scaling on the way down, casinos may finally be ripe to bounce this week. Either way, the risk is too high for a sharp snapback rally in the likes of LVS WYNN here for my taste. Thus, I covered the final 10% position size in my LVS short at $52.92 from my $55.34 entry to lock in the rest of that win.
And my UAL short never got going after promising first day, as the airline reversed higher and has yet to roll back over. As such, I covered it up at $68.61 from my $66.38 entry for a manageable loss.
Note that I could easily get back into the LVS short soon, perhaps after the Fed this week. But I am leaning towards flattening out before the meeting.
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