Las Vegas Sands (LVS) continues to act in excellent fashion from a technical perspective. After layering in a large exposure on September 23rd, it has broken out...based, and today is moving on a 2nd leg upward. In a vacuum this is one to keep holding onto (or if anything adding to) but of course we do not exist in a vacuum. To lock in a portion of my gains (10-11% in about 2 weeks), I am selling 1/3rd today on the 4%ish move up. (Click to enlarge)
The greater market remains stuck between 1131 and 1150. Aside from a peek above 1150 last Thursday we remain in a tight range of 19 points. I'm waiting to see how this revolves before making any intermediate term moves.
Disclosure: Long Las Vegas Sands in fund; no personal position