The leading casino stocks are all trading lower at the start of the trading day. Earlier today, MGM Resorts International (NYSE:MGM) reported earnings that missed estimates. The stock is trading lower by 0.50 cents to $13.05 a share. Short term traders should watch for intra-day support around the $12.75 area.
Some of the other leading casino stocks that are declining lower today include Wynn Resorts, Limited
(NASDAQ:WYNN), Las Vegas Sands Corp.…
Added by Bryan Leighton on May 3, 2012 at 10:58am — No Comments
This afternoon, all of the leading casino stocks are trading lower with the major stock market indexes. The leading casino stocks are still generating good revenue from the Macao market. Many traders are waiting to see if the casino stocks will start trading like a U.S. stock instead of trading like a Chinese ADR. A fair case can be made that the daily chart of Wynn Resorts Ltd (NASDAQ:WYNN) looks very similar to the chart of Baidu Inc (NASDAQ:BIDU). Both stock made a short term high…Continue
Added by Bryan Leighton on April 4, 2012 at 3:58pm — No Comments
So many talking heads in the financial media continue to say that they do not care about the Chinese economy. They continue to pound the table that as long as the U.S. market inflates who cares about what happens to China. Well, every investor should be concerned about a China slowdown; I'll cover the top three the reasons why.
First, the Chinese economy has led the global stock markets higher since 2008. Traders and investors should know that the Shanghai Index…
Added by Bryan Leighton on March 20, 2012 at 11:22am — No Comments
This afternoon, all of the leading casino stocks are trading lower. Last night, China announced a lower growth forecast and this news could certainly be weighing on many of the large casino stocks. It is important to note that the Macau, China market has accounted for a large amount of the earnings for the casino operators.
Some of the leading casino stocks that are coming under some selling pressure today include Wynn Resorts Ltd (NASDAQ:WYNN), Las Vegas Sands…
Added by Bryan Leighton on March 5, 2012 at 3:57pm — No Comments
The Wednesday before options expiration is usually the most volatile trading session of the week. We call this trading day 'Whipsaw Wednesday' as the action will usually be very erratic. This is a time when the large institutional traders will try and shake out the small retail options traders that is playing the near term expiration. As it goes in life, the big fish will most often eat the little fish, it is no different in the stock market during the week of options…Continue
Added by Bryan Leighton on February 15, 2012 at 10:19am — No Comments
Wynn Resorts Ltd (NASDAQ:WYNN) is considered the leading casino stock in the market. This morning, WYNN stock is trading lower by $5.27 to $115.59 a share. Yesterday after the closing bell, the company released earnings that were below analyst expectations. WYNN stock has been struggling to trade above the December 2011 highs which tell us that the stock has weak relative strength. Traders can watch for intra-day support around the $114.00, and $112.00 levels.…
Added by Bryan Leighton on February 3, 2012 at 10:59am — No Comments
This morning, the leading casino and resort operator Wynn Resorts Ltd (NASDAQ:WYNN) is trading sharply lower. The stock is trading down by $6.64 to $105.25 a share. This stock is trading below all of its important daily chart moving averages which puts the stock in a confirmed downtrend. The stock will have some minor short term support around the $100.00 level. WYNN stock will have some short term intra-day support around the $102.00 level. Earlier, it was reported that Wynn Resorts…Continue
Added by Bryan Leighton on January 12, 2012 at 11:06am — No Comments
All of the major casino stocks are now trading along with the Chinese stock market. You see, a large amount of the casino revenue comes from the very important Macao region. Recently, the Chinese stock market has been in a significant downtrend. This same trend is also very noticeable in the large casino stocks. Over the past two trading sessions the Shanghai (China) stock index has rallied higher by over 5.0 percent.
Today the large casino stocks such as Wynn…
Added by Bryan Leighton on January 10, 2012 at 11:23am — No Comments
The big casino stocks are all coming under selling pressure again. The catalyst for the decline in the casino stocks is once again caused by the weak Shanghai Index (China). The Shanghai Index finished lower last night by over 2.00 percent. Most of the revenues for the casino stocks come from the Macao market. If China and the rest of Asia begin to slow down further this will hurt the large casino stocks that operate in that region. The leading casino stocks are not growing in the…Continue
Added by Bryan Leighton on December 15, 2011 at 11:01am — No Comments
All of the leading casino stocks have really struggled since July 2011. This weakness in the casino stocks is likely due to a slowdown in the Chinese market. Last night, the Shanghai Index (China) ended the trading session lower by 1.87 percent. This was a new 52 week low for this important emerging market economy. The large casino stocks have been doing very well in Macao, China. If the Macao market begins to slow down this could hurt the casino stocks further.…Continue
Added by Bryan Leighton on December 13, 2011 at 10:34am — No Comments
The stock market is seeing red today. A mix of poor earnings from companies like Wynn Resorts, Limited (NASDAQ:WYNN) and worry out of Europe are keeping stocks from staging any sort of rally. The SPDR S&P 500 ETF (AMEX:SPY) is trading at $120.36, -0.77 (-0.64%).
Expectations of a deal this weekend in Europe have been high. A major meeting had been scheduled with the leaders of Europe. However, in the last twenty-four hours, disagreements have surfaced and that meeting is now…
Added by Bryan Leighton on October 20, 2011 at 12:04pm — No Comments
This week countless companies will report their corporate earnings. When the major market moving stocks report earnings it will usually cause a lot of volatility and movement in the important leading stock indexes. Last week, J.P. Morgan Chase & Co (NYSE:JPM), and Google Inc NASDAQ:GOOG) really kicked off the earnings season. Traders and investors must always realize that earnings season will usually make for a very volatile stock market.
Later this week on…
Added by Bryan Leighton on October 17, 2011 at 10:32am — No Comments
Added by Bryan Leighton on September 20, 2011 at 10:53am — No Comments
Added by Bryan Leighton on August 19, 2011 at 10:57am — No Comments
Added by Bryan Leighton on July 19, 2011 at 3:39pm — No Comments