After four down days in a row, the market is finally positive.
Well, it’s positive as of this writing.
And it’s fading a little with each sentence I type.
But it’s nice to see some green, even if just for a moment.
Last time we talked about the hot Leisure and Gaming sector.
If you look at the stocks in this cohort, they’ve all held up very well during the bearishness.
And where do new, explosive leaders come from when a new Bull Market forms?
They come from the stocks that weren’t hammered as much as everything else.
Here’s an example of that:
BYD (Boyd Gaming) and its 1.7 million square feet of casino space containing 31,000 slot machines have stayed in a tight channel while everything else has been falling off a cliff.
And, like CHDN, it’s now very close to a major breakout point.
A break above $69.95 by BYD could lead to a nice move.
Happy trading,
Scott
