One of the noteworthy developments in recent days has been the move in casino and hotel operators with large revenue exposure to China amid increased US China trade tensions. Wynn Resorts draws 69 percent of its revenue from China, the greatest exposure among U.S. companies larger than $3 billion, while Las Vegas Sands ranks third, with 65 percent revenue exposure, according to Morgan Stanley. Those stocks down 11 and 0.7 percent MTD respectively. As such, the VanEck Vectors Gaming ETF (BJK) fell 4.3 percent MTD. Now the question is whether recent pullback 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. After a strong run of outperformance since early 2016, BJK peaked in early 2018. The February correction found support near the 23.6% Fibonacci retracement of the 2016-2018 upswing. The April recovery rally ran out of steam…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?
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