Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: cubsfan who wrote (4889)	2/3/2009 11:27:53 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 6370

Yes... SNDK was pure luck. Looks like I sold in the eleventh hour before the inferno break loose...amazing. I won´t go near the stock in the foreseeable future again. TRID... stock well below cash now. $1.40, cash 3.50 or so. Do they have any useful patents? Or just expiring like CRUS and many others?

To: cubsfan who wrote (4889)	2/3/2009 11:51:22 AM
From: RockyBalboa	Read Replies (2) \| Respond to of 6370

Looking at opportunities in MGM. Stock down 90% to $7, now a sell rating comes out. The Bellagio is worth more than the whole company. Analyst starts MGM Mirage with 'Sell' rating Tuesday February 3, 11:24 am ET Analyst initiates MGM Mirage with 'Sell' rating, says company may sell some assets NEW YORK (AP) -- MGM Mirage may see a default rate of 20 percent to 30 percent on its CityCenter condominium units and faces the possibility of some asset sales, an analyst said Tuesday as he started the casino operator with a "Sell" rating. Shares of MGM Mirage slumped 72 cents, or 8.8 percent, to $7.42 in midday trading. The stock hit a new 52-week low of $7.50 earlier in the session. Anil Daswani of Citi Investment Research said the completion of the $9.2 billion CityCenter in Las Vegas could not come at a worse time for MGM, as consumers struggle with diminishing credit, unemployment concerns and a prolonged housing downturn. In a note to clients, Daswani said MGM has sold 55 percent of the condo units to date, but has received only 20 percent of the deposits. The analyst cautioned that if the units' prices fall about 15 percent to 20 percent from current levels that the project will turn out to be a loss for MGM. Aside from its CityCenter woes, MGM is faced with ongoing softness in Las Vegas. Nevada has been among the hardest hit real estate markets in the country and Las Vegas has also had to deal with a pullback in consumer discretionary spending. Daswani contends that Las Vegas is going to take a big hit from the spending pullback, as 60 percent of its revenue comes from the non-gaming segment. The slowdown in Las Vegas is particularly troubling for MGM, as 80 percent of its revenue comes from the city, he added. Daswani also anticipates MGM may have to sell some properties, such as Mandalay Bay or Bellagio, as it tries to get a handle on its debt. The analyst provided a price target of $2.50.