Friday, August 27, 2010

NYSE : MGM Resort International Inc

With regards to my MGM Resort International post earlier, yesterday night it seems MGM have dropped to our cut loss target price.

You may have sold of your MGM yesterday night near market close at $9.14. Unfortunately this was one trade which didn't turn out good. I'm still keen in looking to enter this counter at another better entry point.

As of now, Dow Jones Industrial has closed below the 10,000 support level. It seems the market has taken a bad turn and might tank further. It is advisable to sit out this period and monitor for any turn in events. I do not believe it's worth shorting the market now as companies seems to be performing well.

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