Target SLM--up 2.4% today

As mentioned in prior post, SLM was bought at 20.95 this morning. It closed at 22.27. My sell order is in at 22.37, so I hope to be out in the early trading on Tuesday. No stop since it was up 2.4% today. IDTI was bought at 11.53 and closed at 11.64. Will wait until the morning to decide on this one, but the Renko chart is something else.

As a former Vegas resident, I always keep a keen eye on the gaming stocks and am looking to buy MGM for the long term. My God, if you can't go to Vegas to party after a 6-9 month suspension from now, then this economy is really doomed. Check out the charts on IGT, BYD, WYNN, LVS, MGM, PNK, BYI, ASCA. Things do not look good for the short term, but these companies will be at record earnings in a couple of years.

I get about 20 emails a week from strip hotels on Vegas. Top hotels practically giving away the rooms. They are hurtin'

Since I left Vegas and return there every football season, so do I SemiBizz. That is why I think if Vegas can't come back, then what's the point (except for fishing). My take is it is a barometer on the baby boomers and the real health of the economy. In the republican years of the 80's, the growth there compelled me to move there. Thankfully, it was a rewarding 15 years. I still think it will come back one more time before it runs out of water and that is why I want to invest in MGM and buy a vacation spot there. Have you ever been to the Palomino in North Las Vegas? Playboy said it was the best strip joint in America. I can attest to that. I took my father there once and he used up his socal security check one dollar at a time on the runway. What a great night.

No, buddy of mine went there one night and wanted me to go, but I stayed at the roulette table at the Mirage... played with Bruce Willis and Demi Moore at my wheel. I had every white gaming chip they had 850 of them, and they were paying me in cash chips... on fire. So Bruce just started stacking his $100 chips on top of mine. I made a couple grand that nite, he made 20. Was fun, anyway that was as close as I got to the Palomino.

Semi, You are a class act. What the hell, I may be dead in a year or so. Therefore, I am taking 20 grand (I know it is not much) and I am heading to Vegas in late August to bet the NFL and selected college games there for the next 4 months. Two years ago I was in a national handicapping contest and I placed in 2nd place. What a stroke of luck. The year before my picks were highlighted on a national free pick sheet as I was lucky that year as well. If I lose this year, I may have to look up Iron Cross to stay in his cellar, though I do not remember anyone ever having a cellar in Vegas. Life is all about having fun and I do intend to go back to the Palomino, no matter what the cover is . I swear they have the best looking girls there and they know how to use a razor. Notwithstanding the above, I think I have learned the most on this board from you, Mark, and NAV. Let's keep nailing profits. FrankT

Tropicana, they gone.

Tropicana, they gone.

Jnavin,
Thanks for that report. That is the kind of news I rely on. Believe it or not I was married in Vegas in 1970 and the Trop use to give me a premium room for 25 bucks a night and throw in some comps for shows and gourmet dinners. I stayed there the week I was married. I never thought they could compete once the MGM and the New York went up across the street. Still, it was a fine hotel. I played craps and blackjack there with Tony Danza and several of the others from the old series Taxi. Again, thanks for the heads up.