Yesterday's rally was very profitable for us, but it came on lighter volume than the prior day and that is a reason to be careful. We still believe the market is in a correction and we will be cautious until something changes our mind.
Yesterday we made some nice money on CME, RIMM, LVS and MGM. We tried to buy some shares of WYNN, but unfortunately could not get them at a price we liked.
In today's news, Chinese regulators approved Las Vegas Sands' (LVS) proposed IPO for its Macau casino and the stock is up more than 10% in the pre-market. Also, the New York Stock Exchange (NYX) reported better than expected earnings. The stock was up 0.9% in Paris on the news.
SYMC broke out yesterday on news. We were not able to buy shares at a price we liked due to the gap up, so we will watch it closely to see if it pulls back.
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