Each week at ChartSmarter we like to bring to a little insight into what we do on a daily basis. We have been at it for more than 4 years and we love doing it. Each night we detail 7 to 8 of our favorite ideas, both long and short, for the next days session. We do NOT have a chat room, nor are we active “tweeters”. We like our business growing by word of mouth. For those who would like to see a full copy of our Monday Game Plan, email me at chartsmarterblog@gmail.com.

In our Friday 5/22 Game Plan we looked at LVS. The gaming group has been under assault as former best of breed WYNN being sliced in half from recent 52 week highs (notice how it reversed this week at the very round 100 number and recorded a bullish outside week gaining more than 8%). We looked at LVS as it bounced off the round 50 number for a second time in mid May after being there formally last December. It is now HIGHER by more than 10% from the recommended entry.

Stocks that can be bought after recent significant double bottoms are LVS. LVS is a casino play down by 10% YTD and 28% over the last one year period and sports a very attractive dividend yield of 5%. The stock has fallen 3 of the last 4 times after reporting earnings by 2.2, 1 and .6% on 4/23, 1/29 and 7/17 (it rose 6.2% on 10/16). We like how this week it bounced off the round 50 handle like it did back on 12/17 as well creating a decent double bottom. That week ending 12/19 it rose 2% but reversing more than 12% off intraweek lows. The 50 number was important as it held back in February, March and June of 2013 too. Off 33% from recent 52 week highs we think it represents good risk/reward and enter on a pullback toward the 50 figure at 51.50.

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