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Five winning Super Bowl trades: II. Short MGM Mirage (MGM)

Posted Jan 31st 2009 1:00PM by Michael ShulmanMichael Shulman RSS Feed
Filed under: Stocks to Sell

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In an economy like this, is anyone going to the game?

Yes -- but Pittsburgh people will stay in their cars (hotels are too expensive), and the Arizona people will stay in foreclosed houses (so they should feel right at home).

Speaking of hotels -- short 'em.

I received an e-mail from the Mirage in Las Vegas to come out to watch the Super Bowl for $69 a night.

Last time I was there for the Super Bowl, maybe 15 years ago, it was about $400 a night.

The Mirage is owned by MGM Mirage (NYSE: MGM), which is hovering at a technical support price. Once it breaks through, look out.

I'm not traveling to Tampa or Las Vegas -- I'm staying at home for the big game. And I'm shorting MGM.

Michael Shulman is a contributor to OptionsZone.com.

Tags: hotel stocks, hotels, HotelStocks, las vegas, las vegas mirage, LasVegas, LasVegasMirage, mgm, mgm mirage, MgmMirage, mirage, super bowl, super bowl trades, SuperBowl, SuperBowlTrades, vegas

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IndexesChangePrice
DJIA-14.2810,318.16
NASDAQ-10.782,146.04
S&P 500-3.521,091.38

Last updated: November 22, 2009: 08:49 AM

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