09Apr3:14 pmEST

A Backdoor Cover in Vegas

Following-up on my long WYNN idea from the Weekend Video Strategy Session, other major casinos could also be ripe for a so-bad-they-might-be-good-for-a-bounce trade. 

MPEL is up more than 5% and LVS is up more than 4% as I write this. 

But MGM could be the play, seen on the daily chart, below, not yet at its upper Bollinger Band (indicative of overbought conditions), unlike LVS and MPEL. 

Earnings are not until May 5th, and MGM has been outperforming LVS and WYNN on a relative basis for a while now. 

Time to Act; Chess Moves Cutting Dead Weight Into the...

 
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