There is really no place to hide in this market,many people have lost the childrens eduction money.IMO the bad loans and credit is going to get worse!Mntg behaved well today.......Remember when politicians wanted to put social security money into the stock market?Bear markets have rallys and they are basically short covering not a bad time to get out on the good news...
"Bear markets have rallys and they are basically short covering not a bad time to get out on the good news... "
I think this will all wash out next week. Yes, we will see new lows, but I'm looking for a huge down day followed by a sustained rally. Could happen Monday! I bought MNTG today in the low $12's. Even if it goes lower, I think it was a good buy. We should see the price up nicely in the fall. Remember, fall is the time to invest and spring is the time to take profits. http://finance.yahoo.com/q?s=^IXIC&d=c&t=1y&l=on&z=b&q=l
Bullish article on gaming stocks in general at CBS Marketwatch...this has been a painful week for everybody but this time next year MNTG should be back up to high teens...
Vegas looks to clean up on its books Regulation and penalties keep casino cards on table By William Spain, CBS.MarketWatch.com Last Update: 7:42 PM ET July 16, 2002
LAS VEGAS (CBS.MW) -- Some of Corporate America's cleanest books may well be kept in what would seem the unlikeliest of places: Las Vegas.
As casino operators release their second-quarter numbers over the coming days, it's a safe bet that gaming executives will make much of how transparent their industry is compared to others.
Harrah's Entertainment (HET: news, chart, profile) planned to underscore the point in the company's conference call to discuss its latest earnings results on Wednesday morning, according to people familiar with the plans. See report on Harrah's.
And why not? As the energy industry fields questions about sham trades and software companies battle accusations of phantom revenue, casinos may have a prime opportunity to showcase their relatively straightforward, cash-based business models. After their recent history of stringent regulation, casinos are in a position to boast that their ledgers, as well as their games of chance, are all above-board.
"The checks and balances that were put in place to keep out organized crime should reassure the investor," said analyst David Anders of Merrill Lynch.
By insisting on extraordinarily detailed financial reporting at short intervals, Anders said, gaming regulators both in Nevada and other jurisdictions have created a wealth of information to examine and compare.
That has made it more difficult for sleazy executives to get away with accounting sleight of hand.