that story last week! A giant break-out on the charts, and a futile attempt by the bears to make the charts say the break-out was fake!!
So how does this chart look now?
Is that a chart of some bears who pressed their shorts, and then had to puke up that which they pressed?
It sure is!
And MGM is next. You had that story also.
Because the gaming stocks are going to have what they rest of the market is going to undergo.
And multiples at trough valuations and trough earnings can go through the roof.
So raise the roof.
Because the next PE that the bears will have to contend with his the re-emergence of Private Equity. Even though the asset class is still being panned.
Another PE to bury the bears. Heck even the folks at Harrah's are getting bailed out!
It's PE squared!
And that's the answer in stock prices, for all those timid pikers who tout the "square root" recovery!
Because the recovery is a V!!