06Mar11:10 amEST

When All Else Fails, We Go Gambling in Macau

On the back of some gaming numbers out of Macau which showed revenue rebounding slightly in February, two of the more intimately-related Macau gambling plays are faring rather well this morning. 

Both LVS and especially MLCO (a pure play on Macau as opposed to Las Vegas Sands) are notably green in a weak overall tape. Of the two, MLCO is the better chart. 

On the Melco daily timeframe, below, we can see price holding well above its 200-day simple moving average. The market, in its infinite wisdom, seems to have anticipated this rebound in Macau gaming revenue rather impressively, indeed. 

And while the U.S.-focused gaming plays have been sleepy for a few quarters now, the China/Macau plays may be closer to waking up. If MLCO can surge over $24 in the coming weeks, it should add more evidence to the bull case for more strength out of most things China-related. And in the gaming sector that could be the case even more. 

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