Trade Update - Las Vegas Sands (LVS)

I have not been shy about my bullish thesis on LVS since it was bottoming back in May (see archives). Recently, I tempered my enthusiasm after the stock really began to pick up steam on the upside.

Over the last 2 days, the stock has gone parabolic (straight up), and looks overdone to me. As a result, I have taken profits on all my positions in the stock.

Among the big casino stocks, Wynn Resorts (WYNN) actually reported the strongest quarter of earnings last quarter. That stock has also enjoyed a monster run. But on a pullback, I want to swap into WYNN going forward, as I think it could offer more upside.

These stocks are plenty volatile, so I'm certain we will get a pullback at some point. As usual, patience is key.

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