Monday, August 06, 2007

Market Update

Strong rally here so far though theres only a few sectors that are doing well today. Its been the beaten up banking sector thats leading the way with big gains in I-banks and large financial institutions such as GS MER MS DB CS C JPM WM. Oil and Gold/Silver continue to lag .

NYX continues to get beaten up and looks like a great buy here since its trading at less than 35 times this years earnings and under 25 times next years. For a company growing at 35-40% a year this is quite cheap. I am adding to my position.

LVS has looked great the last few sessions in the face of a terrible market. Once the market turns around this stock could really soar. Like I said, cheap US Dollar = more foreign tourists in Vegas = more money for LVS.

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