Update 4-13th thru 17th
C - $3885
MGM - $3292
BEE - $160
DRYS - $30
Tues - $79
GRO - $172
LVS - $377
ABK -$220
Total Gain - $6459
Here's a little history of what has been happening with MGM that was relaesed back in March
I'm not offering a buy or sell on this stock, but just pointing out there is alot going on here that will be fun to watch<>
GLTA
C - $3885
MGM - $3292
BEE - $160
DRYS - $30
Tues - $79
GRO - $172
LVS - $377
ABK -$220
Total Gain - $6459
This week was a roller coaster ride to say the least. Nitro pills anyone? :-) I tried some new strategies that try to maximize gains. I'll be working this new strategy to see how viable it is. So stay tuned. Right now I'm spending time looking at all the stories behind MGM. This stock has so many power players involved - Kirk Kerkorian, Carl Icahn, Dubai World and Bank of America. WOW...what a group! And as I research into this play more the stories just get better and better. So much so I hope to blog on this tonight if I have time because there are some very intriguing highlights they are all blog worthy.
Friday saw a wild ride up as news was announced that $70 million was infused to secure the loans for the Vegas City Center casino resort with estranged partner Dubai World.
The City Center project is a luxury residential, resort and retail complex with an estimated cost of $8.7 billion and is owned by City Center Holdings LLC, a joint venture equally owned by MGM and Infinity World. The project is being developed on 67 acres between the Bellagio and Monte Carlo resorts on the Las Vegas Strip. The project includes construction plans for several casinos, hotels, a retail strip and other office and residential buildings.
Dubai World has been withholding up to $135 million payments for the project and filed a lawsuit alleging a breach of contract and cost overruns due to mismanagement, following MGM's statement on its 10-k filing that "there is substantial doubt about our ability to continue as a going concern."
MGM
One of the biggest soap opera's to hit Vegas!
Friday saw a wild ride up as news was announced that $70 million was infused to secure the loans for the Vegas City Center casino resort with estranged partner Dubai World.
The City Center project is a luxury residential, resort and retail complex with an estimated cost of $8.7 billion and is owned by City Center Holdings LLC, a joint venture equally owned by MGM and Infinity World. The project is being developed on 67 acres between the Bellagio and Monte Carlo resorts on the Las Vegas Strip. The project includes construction plans for several casinos, hotels, a retail strip and other office and residential buildings.
Dubai World has been withholding up to $135 million payments for the project and filed a lawsuit alleging a breach of contract and cost overruns due to mismanagement, following MGM's statement on its 10-k filing that "there is substantial doubt about our ability to continue as a going concern."
MGM
One of the biggest soap opera's to hit Vegas!
So I rode this wild ride and 'should have' lol doubled my gains but I was away from my computer and at work only to receive an email that the MGM was running. I hurriedly went to a computer signed on and sent in a blind sell order right as it was correcting momentarily. Oh had I been at my trading desk with charts and level 2! Oh well, one day we will do this F/T. Till then it's a P/T gig that both fun and profitable.
Here's a little history of what has been happening with MGM that was relaesed back in March
I'm not offering a buy or sell on this stock, but just pointing out there is alot going on here that will be fun to watch<>
GLTA
4 comments:
I havent been able to understand your testimony about how you started. you said:"Now I have three different accounts and move about $40,000 between the three for short term trading after the this years profits and additional money added.")
You said you started off with $325 on 2008 or 2009? and now you have a $40000 profit? so it was really THIS year 2009 or last year?
Confused there :(
Thank you,
Andy
I originally started trading in the spring of 08' with very little in an e-trade account. I added around $500 a month for several months and then put in around $2500 from a Gas Lease. I then doubled that almost overnight in a Bio-tech buy out(IOMI) to give me around $8000 in May of 2008. I worked that account and opened a Fidelity and an Ameritrade acct. to try differing strategies.
But late 08 I had worked those accts. to over $40,000. Then I got hit with the big crash and lost almost all of it unrealized. I held tight for 5 months and averaged down on 3 stocks, APWR, CVI and FEED. I was able to free myself from the 1st 2 and just recently freed my self from the last. Since that time I have increased the profits to over $70,000 of which $30,000 was used to buy some cars recently. So now I am back in 09 with around $40,000 to work with.
Now I see why the confusion after reading "Why I got started". Thanks! I had not read that or updated it since last year. I have since updated it to include the opening line that I started last year in instead of the original This year. Thanks for the heads up!
DEO
Thanks to you!
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