Welcome to Capital Essence

Sign up for a FREE MEMBERSHIP to read tons of free content. Take a 30-DAY Trial Offer to access premium research and trading strategy. Check out our Investment Blog for the latest trading/investment ideas. If you want to go beyond the latest numbers, our Market Outlook will tell you why the market does what it does and what it means for the next day’s trading.

 
One of the noteworthy developments in recent days has been the move in casinos stocks. The groups were under tremendous selling pressure since later January after MGM Resorts (MGM), Wynn Resorts (WYNN) and Las Vegas Sands (LVS) announced disappoint gaming revenue in Macau, a province of China.  In early January, the Macau Gaming Inspection & Coordination Bureau reported a 14.6% increase in December gross gaming revenue (GGR). That was below the 20% gain that analysts had forecast.  Alter surging nearly 38 percent in 2017, the VanEck Vectors Gaming ETF (BJK) down about 5 percent in February and more than 1 percent MTD.  Now the question is whether recent weakness is a pause that refreshes or it’s a beginning of something worse?  Below is an update look at a trade in BJK.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges.  As shown, the underlying is in a short-term bullish trend when the price bars are painted in green.  The underlying is in a short-term bearish trend when the price bars are painted in red. 

Chart 1.1 – VanEck Vectors Gaming ETF (weekly)

Our “U.S. Market Trading Map” painted BJK bars in red (sell) – see area ‘A’ in the chart.  BJK sold off last week after the early February oversold relief rally ran out of steam near 48, the mid-December pivot high.  Last week’s massive bearish engulfing bar is a clear indication of supply overwhelming demand.  Right now the most important to watch…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

Subscribe to CEM News to receive more in-depth research from Capital Essence.

P.S. Take advantage of the 30 days special trial [new member only]. Join a small group of elite traders and receiving these daily trading ideas by click here to subscribe.

Archives

Translate this Page