Thanks for taking the time to check and share the info regarding their earnings announcement. This is a breakout trade from a descending triangle price congestion with an immediate target of $81 in 3 days. Now, it may or may not get to the target but this is a quick trade and I intend to cover it before earnings.
Could you tell us why you shorted LVS on 4/30? I can see that it broke out downward from a range. Also, did you give weight to the head-and-shoulders pattern of the last several months (I don't know if those work, so I would like your opinion)?
For the benefit of your readers, there is, by the way, an earnings conference call for LVS tomorrow, Wednesday, at 4:30 PM EST.
Also you recently mentioned a reversal candle on some other stock. I can't help commenting that LIFC printed the most amazing hammer on the daily chart today. It came through on a screen that I am using that is similar to the one that you describe on your site at the link "How I prepare for the trading day". That's how I found it.
And again, thanks much for the opportunity to review your trading.
Wednesday, May 02, 2007
Trade: Short LVS @ $88 on 4/30
I recently received this comment from Mike O' Connor: