Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 06:38 PM. | Search:

» StockRants Stock Forum » Public Stock Forums » US Stock Picks » Strong Buy: MGM for an easy double



Reply
 
Thread Tools Search this Thread
Old 01-14-2010, 07:47 AM   Nav to Top  #21
oNi
VIP Trader
 
oNi's Avatar
 
Join Date: Jun 2009
Location: VA
Posts: 102
Favorites: MGM CAR JAZZ
Rep Power: 165
Reputation: 862
oNi is a splendid one to beholdoNi is a splendid one to beholdoNi is a splendid one to beholdoNi is a splendid one to beholdoNi is a splendid one to beholdoNi is a splendid one to beholdoNi is a splendid one to behold
Did I help?
Default

Multiple charts suggesting a run to 16 is due. News has been great for casino's this week, November saw gaming revenue in Las Vegas up 8.9% so let's see if we can continue this run.



oNi is offline   1 thumbs up / 0 thumbs down. Rate this post Yes | No Reply With Quote
Old 01-15-2010, 01:43 AM   Nav to Top  #22
worldclass422
Junior Trader
 
worldclass422's Avatar
 
Join Date: Jan 2010
Location: Dana Point
Posts: 11
Favorites: MCLN, FAS, RMDM
Rep Power: 125
Reputation: 159
worldclass422 has a spectacular aura aboutworldclass422 has a spectacular aura about
Smile Hong Kong Public Offering

MGM begins the process for a 1Billion Dollar Hong Kong public offering...

Jan. 15, 2010

http://www.marketwatch.com/story/mgm...k=MW_news_stmp

GLTYA
worldclass422 is offline   Rate this post Yes | No Reply With Quote
Old 01-17-2010, 02:14 PM   Nav to Top  #23
pdtpatrick
Super Moderator
 
pdtpatrick's Avatar
 
Join Date: Jun 2009
Location: Irvine
Posts: 323
Favorites: RIMM, TTM, ANR
Rep Power: 183
Reputation: 1122
pdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud of
Send a message via AIM to pdtpatrick Send a message via Yahoo to pdtpatrick Send a message via Skype™ to pdtpatrick
Default $MGM

Now that our price target (maybe i should speak for myself only) at $12 was met and actually went close to $13 -- here comes the pullback.



__________________
BLOG: www.tachatter.wordpress.com

The only thing worse than being worse, is staying worse.

Minimize your losses and take your profits.

Sell when you can and not when you have to.
pdtpatrick is offline   Rate this post Yes | No Reply With Quote
Old 02-18-2010, 09:21 AM   Nav to Top  #24
pdtpatrick
Super Moderator
 
pdtpatrick's Avatar
 
Join Date: Jun 2009
Location: Irvine
Posts: 323
Favorites: RIMM, TTM, ANR
Rep Power: 183
Reputation: 1122
pdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud of
Send a message via AIM to pdtpatrick Send a message via Yahoo to pdtpatrick Send a message via Skype™ to pdtpatrick
Default

I decided to use calls instead of verticals of Calendars because I want to be able to cancel one and keep the other because eventually the stocks are going to move up and so will the option.

Okay so here is my play for tomorrow for MGM. I have two:

This one, if the stock tanks to $10.40 (which we saw how quickly LVS lost $1), then you lose $42.97 - but the bigger story is that u make money on your short position - about $154. However if the stock jumps to $13 then you make $19 because you have more upside bet. However, If the stock takes off then just buy back your short and you'll be fine but i'm better it will tank because of expiration friday and all the people trying to get rid of their options before it becomes completely worthless.




A more risky one (or should i say if you really feel they will tank on earnings)
This one i'm not going to explain, haha i'm too tired to type.




Not that a chart matters but here is the one i've been looking at and I think if it does drop - I'm looking for $10.40 and if it continues dropping then people are just greedy. But if it pops, I won't expect anything over $13


__________________
BLOG: www.tachatter.wordpress.com

The only thing worse than being worse, is staying worse.

Minimize your losses and take your profits.

Sell when you can and not when you have to.
pdtpatrick is offline   Rate this post Yes | No Reply With Quote
Old 02-19-2010, 01:11 AM   Nav to Top  #25
pdtpatrick
Super Moderator
 
pdtpatrick's Avatar
 
Join Date: Jun 2009
Location: Irvine
Posts: 323
Favorites: RIMM, TTM, ANR
Rep Power: 183
Reputation: 1122
pdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud ofpdtpatrick has much to be proud of
Send a message via AIM to pdtpatrick Send a message via Yahoo to pdtpatrick Send a message via Skype™ to pdtpatrick
Default

Okay -- Here's my current play. Just an addition to the previous.

Okay so I wanted to share my play on MGM

I saw the opportunity to make good money on this one earlier after following a few earnings calls, I noticed a pattern (especially after LVS released decent numbers and tanked). I should mention that I made a mistake because I had the ask locked so it never changed to reflect the live (after trading started in the morning) so I was kinda down to start with instead of being up $80 automatically.

As you can see, it's slightly because of the mistake but if you also notice, if it goes up - I make money and if it goes down, I make money.



As it tanks, here's what I'm making



And then once, it bottoms and starts to reverse, I am looking to exercise my puts and SHORT calls and then try to make this on the way up.



It's a different way of hedging I guess, I like to get creative so I'm never caught with my pants down. I don't believe in sidelines, gotta keep the ball in play like a point guard.

Here's the chart I've been using.




GLTA -- let's go!
__________________
BLOG: www.tachatter.wordpress.com

The only thing worse than being worse, is staying worse.

Minimize your losses and take your profits.

Sell when you can and not when you have to.
pdtpatrick is offline   Rate this post Yes | No Reply With Quote
Reply

Tags
MGM

Similar Threads
Thread Thread Starter Forum Replies Last Post
Watching: LVS/MGM mahmissa US Stock Picks 33 06-16-2009 03:01 PM
MGM Share Offering Mendy Rumors & News 0 05-13-2009 04:59 PM
Long: SD Easy Money AKrider US Stock Picks 12 05-13-2009 01:19 PM
MGM & LVS Jon Rumors & News 5 04-30-2009 10:53 AM
Buy: MGM SeanECE US Stock Picks 6 04-28-2009 02:49 PM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On