Filed under: Good news, Industry, Newspapers, Options, Technical Analysis, Las Vegas Sands (LVS)

Las Vegas Sands Corp. (NYSE: LVS) shares opened higher this morning on a New York Times story noting how gambling revenues for Las Vegas casinos are high this year, and “way up” in the past few weeks. The story cites casinos catering to affluent customers and foreign customers from countries with strong currencies as major reasons for the gambling boom this year. LVS stock is in the red now, but that move could be attributed to investors who bought the stock at its highs selling their positions to get the tax-loss this year. If you think that the company won’t fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on LVS.

After hitting a one-year low of $71.24 in June, the stock hit a one-year high of $148.76 in October. LVS opened this morning at $107.85. So far today the stock has hit a low of $107.02 and a high of $110.45. As of 11:25, LVS is trading at $107.05, down $0.87 (-0.8%). The chart for LVS looks bearish and steady, while S&P gives the stock a negative 2 STARS (out of 5) sell rating.

Continue reading Las Vegas Sands (LVS), Vegas casinos see positive trends

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This entry was posted on Thursday, December 27th, 2007 at 10:43 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.