I am checking back in on a few stocks I've discussed recently. My worry that the window on MGM might have passed me by (at least temporarily) has been confirmed. I was not using a stop and MGM sunk below $9. Why no stop? Because I strongly believe it is one of the casino stocks that will violently surge up at positive signs in the American economy. This explanation is insufficient: it must also be coupled with a belief (which I have) that positive signs in the American economy will be reported in coming months, whether these signs are accurate or not. In the meantime, MGM has gone up again, coming near my entry point. I'm willing to wait.
PRIS was an easy choice this morning. News of lower Spanish borrowing costs told me the stock would benefit. Good news for Spain is good news for PRIS. So far, so good.
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