Hotel and casino stocks have been slaughtered since the start of '08. How do you trade when travelers are tightening the money belt?
Since the beginning of the year, Starwood (HOT) is down 13%, Wyndham (WYN) has fallen 9%, Las Vegas Sands (LVS) sunk 27% and Wynn Resorts (WYNN) is down 13%, explains Dylan Ratigan.
I don’t think we’ve seen all the bad numbers come out of these stocks yet, says Karen Finerman. I wouldn’t get long, she counsels. But be careful, the market is moving swiftly. Don’t short these stocks either. Just walk away.
I think these stocks are being priced for recession, adds Jeff Macke.
Take a look at MGM (MGM) says Pete Najarian. Dubai is in that stock.