The Market

I keep a couple few mock portfolios, baskets of stocks I keep an eye on, different sectors and whatnot. I've been kinda busy and haven't really paid a whole lot of attention to them. I hadn't looked at gaming stocks in a while, and saw that WYNN is down to about a hundred bucks. Really? Wow, that's better than half a haircut. That was a shocker to me. CZR's had half a haircut too, but well..you know, little debt problem. So no surprises there.
MGM and LVS seem to be off but holding. I'm skittish about getting into gaming (I've only bought one that I can remember, MPEL) but if LVS ever ,ever gets to three and half bucks again, I'm in. Big.

Market's been in a downtrend. A lot of people calling for a correction, oil down to $40 (which I doubt, I would love it tho), Greece concerns, Chinese market just had a pretty big dive...we'll see. Myself, I do think a correction is not only due, but needed, seems overvalued to me. I thought dow at 16,000 was overvalued, then again, wudda I know.

Thoughts, opinions, other side?

The economy is still terrible. In 2010 80% of Las Vegas visitors gambled. Today it's down to 70%. Carl Icahn got $2 billion worth of casino construction for $150 million a few years ago and is still sitting on his investment. I don't know what these Malaysians think they know that everyone else doesn't know that would cause them to sink $4 billion into new casino resort. Hear what the man himself(Wynn) has to say about the state of the US economy.

https://www.realclearpolitics.com/video/2015/05/06/steve_wynn_the_idea_that_america_is_in_the_midst_of_a_great_recovery_is_pure_fiction_its_a_lie.html

John, where the hell do you get your haircut? LOL.

Actually, it’s pretty common for old guys like me to ask the barber for “half a haircut.” It lets him know that he should only trim two of the hairs on my head, and leave the other two alone.

I do the famed investor "Peter lynch" thing and buy companies that I actually use. I have trouble investing in stuff like "the cloud" or cyber security..... you know stuff you cant touch, smell or taste
For example, I fly to Las Vegas (everywhere) on south west airlines. Now this stock was a dud for years and I got laughed at more than once for telling someone I owned (LUV). I only had about 3% of my mad money (if you will) in that stock well Last year the damned thing took off and I laughed all the way to the bank! I only have house money in that stock right now.
Now when I get to Las Vegas via S/W airlines I usually go to a Boyde Properties like Samstown out on boulder highway or the Fremont, California, etc on Fremont street. Now Boydes stock has pretty much gone sideways for a while but I have managed to play a troth in this stock between $10.75 and $13.50 and have done alright with it. FYI, its on the high side right now and recommend waiting for a down turn.
I agree the economy is still not good right now, but that's when you should be buying (buy low) so when the economy picks up hopefully your stock goes with it.


weggie

WYNN and Macau gaming overall down even further. Is this really all due to a crackdown on corruption(what I saw or read,don't remember)? Sounds extreme. Time to get in Macau soon? I do remember what I saw/read was that the likelihood of things returning to "normal" were very good, so who knows, I really don't have any insight or knowledge in that market, out of my realm.

This market has no fear at all, which is always bad news. History shows that is when the market crashes, I am begging for a correction.

As long as interst rates remain where they are the market will continue to drift upward (despite a mediocre economy) since there isn't any alternative investment.

I am expecting rates to rise in the very near future. I am also expecting a few increases before year end.

That keeps being the vague word from Yellen, but I think she's been saying for a little while now.