Viva Las Vegas - Better Odds then the Vegas Tables!

Viva Las Vegas!

April 3 Update
Sold for Gain
FEED - $1021
MGM - - $956
ALTU - $586
Sold for Loss
CTIC - $90
GGP - $68
Total Gain - $2405

In the last blog I mentioned that I was limited in funds because I had depleted it to buy the two cars. So with positions already in FEED, GGP and ALTU I awoke to the Pre Market with nothing but $1800 in margin money to play with. Well there was no way I was going to let that sit there in this market so off we went to trade and break a rule that I try to hold to. Never buy in Pre Market... But sell all you want...but there is always that occasional exception and today that exception was MGM. It was time to play Vegas baby! I caught the second buy of the PM at $2.23 and it was all up from there. LVS had made great gains over the last several days but MGM lagged behind so I figured this would be a mover today.

MGM

So with a possible runner in the making I was hoping for a pop in either ALTU or GGP so I could take that money and leverge larger gains. Later in the AM ALTU popped just enough for me to move out with a small gain and throw all of it into one of the hot Vegas Casino plays MGM or LVS. LVS and MGM were both hot going back and forth up 9 to 12%. By the time I finally had some capital to play with MGM had outpaced LVS so I threw $9000 into LVS at $4.50. which was the opening price. Little did I know that MGM would go vertical and leave LVS in the dust. But hey, I wasn't too mad, here I was using borrowed money which I would later sell near the bell for about a grand in pure profit. I couln't turn that down as I already made over $5oo for a small gain off ALTU. Later AH MGM just went nutty and hit a high of $5.25 before settling back to $5.05. LVS ended up closng at $4.60 AH. I believe LVS will double from here as it has a recent history of sharp vertical leaps to $14 from this price. So I'm holding here for a target of $8 or $9 as hedge funds can buy if the price is over $5.

I'm feeling good about next week having more powder left over for whatever Monday may offer.

LVS Set for another double?

The other big stock move was DNDN which I just didn't pull the trigger on when at $4.90. As you can see from the chart, it also went vertical today and closed at $6.15 AH. So there were some great plays out there as even CNO ripped away again. I must admidt I almost committed all of the capital to this when is was at $1.03 but my my was set the bright lights of Vegas.

DNDN

Nice spike!