Monday, October 4, 2010

LVS Watch

Las Vegas Sands Corp. (LVS) moved to a higher high today, meeting the requirements for reentry by those traders who jackrabbited during the late September price decline.

LVS $36.34

The price rose 4.8% intraday to set a high of $36.94, and then gave up about 2% in a retreat. The fast stochastic returned to bull phase. The less volatile signals had never entered bear phase.

In my analysis of Sept. 29, I described a series of benchmarks for exiting, depending upon the nervousness of the trader. Only the most nervous benchmarks were triggered.

Today's high puts the price in territory last seen in September 2008.

The low set by the four-day retracement was $34.12, and a drop below that price could be interpreted as a lower low. However, the correction was of such short duration that I find it hard to take the level seriously. A more serious swing low is $19.06, set May 21, the beginning of the series of higher highs and higher lows that define the present uptrend.

Earnings will be released on Oct. 28 after the close.

Reversal Levels
  • $36.94, +1.7% (swing high)
  • $36.34 <== You are here.
  • $34.12, -6.1% (recent low)
  • $33.01, -9.2% (20-day moving average)
  • $23.48, -35.4% (200-day moving average)
  • $19.06, -47.6% (swing low)
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment. No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
  • pps - Person's Proprietary Signal.
  • psar - Parabolic Stop and Reverse
  • ma20 - 20-day moving average
  • ma200 - 200-day moving average
  • macd - Moving Average Convergence-Divergence
  • sto - Fast Stochastic
About the glance: The colors indicate the state of each signal.
  • trend: Determined by the 5-day moving average, green for up, red for down, yellow for sideways.
  • sto: green for bull, red for bear.
  • sto zone: green for overbought (80+), red for oversold (20-), yellow for neutral zone
  • psar, pps, macd: green for bull mode, red for bear.
  • macd trend: green for rising, yellow for sideways, red for falling.
  • neutral.
  • ma20, ma200: green for above the average by more than 1%, red for below the average by more than 1%, yellow for within 1% either side of the average.

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