Wednesday, March 10, 2010
An update on Las Vegas Sands
Probably the same clowns who sold LVS after earnings! And we had that story, the day of earnings on February 17:
Earnings were fine,and the stock is selling off $1 in the after-hours. Oh my! Big deal. Same old play on this number after every earnings report. On July 31, the stock sold off after earnings to under 10, when Sheldon Adleson, when asked why they beat numbers jokingly replied that they were "cooking the books." I said you needed to take the stock on that pullback. And you could get it in the 9s.
The same clowns who sold LVS on earnings! They're back!
On April 27, Singapore Las Vegas (Marina Bay Sands) is opening. Yesterday, Singapore upped their growth forecasts. Won't that help?
So who would sell? Just more Wall Street wimps! Who think they need to watch every tick on the screen, so they can pull the trigger and not lose any money.
They just lose opportunity!
LVS is hitting the cover off of the ball in Macau. The tax rate their is 35% plus another 2% and 3% thrown Macau's way. Thagt's 40%. The tax rate in Singapore?
And if the clowns want to sell it on the opening of the Singapore casino, doesn't that mean it has to go higher?
How about 23 or 24. And fast!
And last I checked, Las Vegas likes clowns.
They just take their money!
Posted by Palmoni at 10:56 PM