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Poor Action In The Casino Stocks

|Includes:LVS, MGM, MPEL, Wynn Resorts, Limited (WYNN)

The leading casino stocks are all trading lower at the start of the trading day. Earlier today, MGM Resorts International (NYSE:MGM) reported earnings that missed estimates. The stock is trading lower by 0.50 cents to $13.05 a share. Short term traders should watch for intra-day support around the $12.75 area.

Some of the other leading casino stocks that are declining lower today include Wynn Resorts, Limited
(NASDAQ:WYNN), Las Vegas Sands Corp. (NYSE:LVS), and Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL). All of these stocks could have a little more downside action today, however, the daily charts are still holding up at this time. These stocks look to be trading lower in sympathy to MGM.

Nicholas Santiago
InTheMoneyStocks.com

(click to enlarge)Click to enlarge

Stocks: WYNN, MPEL, LVS, MGM