Monday, August 23, 2010

Black Cloud Cover in Las Vegas Sands

Today has a close in Las Vegas Sands $LVS with a dark cloud cover over the last two days. Looking at the daily chart we should see lower and darker skies ahead with a down day greater than 2.00% the market being unable to hold their gains after being up intraday and LVS just hitting a 52 week high last week and unable to make a run higher so far this week. If I was more than a sports handicapper I would advise a short position for the next few days or until your profit target reaches. Also look at price action under 29.00 and below the 200 day moving average.