Considering some of the biggest travel & leisure stocks have tumbled lately, is the high-season already over for these names?
Take for example, Las Vegas Sands. Shares tumbled on Friday after the company said it lost $175 million in the quarter largely due to reduced spending at its hotels and casinos.
Meanwhile, Royal Caribbean shares headed farther south than its ships, as fears about swine flu as well as the weak economy dampened demand.
To make the scenario even more bearish, fresh data released Friday showed a sharp drop in consumer spending, which in turn fanned fears that recovery would be sluggish
What’s the travel & leisure trade?
I’d be cautious of these stocks, counsels Tim Seymour.
I wouldn't even play a short-squeeze, adds Joe Terranova.
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Trader disclosure: On July 31st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Terranova Owns (AMZN), (MSFT), (MCD); Terranova Is Short (TM)
For Joe Terranova:
Terranova Works For (VRTS)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.
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