Trading Las Vegas Sands ( LVS ) 10/29/08? LVS Analysis

Las Vegas Sands ( LVS ) is one of the hottest stocks on the NYSE today and in the over all stock market. MGM Mirage set the tone with their earnings this morning and LVS has been spiking on higher volume off its low from yesterday.

Day Trading Las Vegas Sands ( LVS ) - October 29th, 2008.

As I write this blog, LVS just hit $7.99 up around 60%. There is support around $7.30...and then $6.70. A break below $6.70 would be bearish in my opinion and i'd look to reload at $6. If Las Vegas Sands can close over $8 today, I think it could retest $9 and above at its 10 day moving average.

Be careful though, we are in a volatile bear market so use your stops and be disciplined!

Here is a chart of LVS.

Art Cashin CNBC 10/29/08 - Bottom Call, Yen Comments

Art Cashin was on CNBC 10/29/09 and he had these comments to say:

Tuesday the Yen skyrocketed and you had the g7 intervention which crushed the carry trade, we then had selling everywhere.

When the Yen eased it started a rally, everyone waited to see if the last hour sellers would show up, they didn't show, it sparked a huge rally.

This afternoon, a 50 point rate cut is priced into the market and we are hoping to hear the credit markets are easing from the Federal Reserve. If we get a .25 cut, you would see a sell off....but then again the market might say, wait a minute, things might not be so bad if they only cut .25 and they might rally it.

Monday we retested the lows and rallied Tuesday....this rally might actually have legs and you might be able to start buying the dips, we'll have to wait and see.

I think this bottom is a temporary bottom, not the final bottom, but we might rally into the end of the year but in 2009 we should get the real bottom.

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Art Cashin CNBC 10/28/08 - Rally for Stocks? Capitulation

Art Cashin CNBC - 10/28/08

Art Cashing was on cnbc today, October 28th, 2008 and he has these things to say, and it almost sounded like he will soon be giving in if we can stage a little rally today. There is a feeling down here on the floor that there is about to happen whether its to the upside or downside, we don't know yet. Everything that happened recently as far as capitulation happened in other continents - if we could have only done it here in the US markets it would been so easy, you get the huge sell off and then you back up the truck. This rally could hold, however but it would just be so simple to get capitulation over with.
The thing that has been denying the big sell off I have been expecting is the fact that its to late to sell, people don't react to the big sell offs anymore. I think at this time, You need an event to happen, something major to get forced selling where everyone throws in the towel...whether we get that or not...we'll have to see.

Click Here for recent comments by Art Cashin, Floor trader on the New York Stock Exchange from UBS

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RIMM Research in Motion Analysis for 10/27/08

RIMM Research in Motion Technical Analysis for 10/27/08

RIMM Support and Resistance Levels

Rimm appears to have finally have support from Friday October 24th, 2008 at the $40 level. I really don't see RIMM stock going much lower. If it does, Rimm will be getting buyout offers if you catch my drift! In the coming weeks it is possible for a retest of $40 if market conditions in the stock market deteriorate. RIMM is a great company with a great product...growth is slowing, but not this much. Yes, Apple ( AAPL ) is starting to eat their lunch with iPhone sales but there is plenty of business to go around. Having your stock go from $135 to $40 in 75 days,. well, this is what happens when every hedge fund on wall street owns your stock in a deleveraging period.

Resistance is at $46 and $50...when this stock turns it will be jaw dropping like a lot of other stocks out there. A close back over $70 and this stock will really get moving. RIMM is the ultimate day trading stock right now in my opinion.