Steve Grasso: This Stock Could Hit the Jackpot in August

If you’re looking for a trade with lots of upside potential, that has both fundamentals and history on its side, look no further.

According to Steve Grasso you’ll find it with a long position in Las Vegas Sands in August.

Fundamentals

The fundamental thesis is that company’s hotels and casinos stand to benefit as the economic recovery takes hold. And the traders think results released earlier in the week from rival Wynn illustrate the trend is underway.

As you might remember on Monday, Wynn posted second-quarter profit and revenue that handily topped Wall Street estimates as revenue at its Wynn Macau unit soared 36.7 percent and business in Las Vegas improved.

History

Looking at history, trader Steve Grasso tells the desk that August is historically a good month for Las Vegas Sands.

The stock has increased an average of 25% in the month of August for the past 3 years, according to Grasso. In fact in August of 2009 it popped 53%.

And Grasso is putting his money where his mouth is. "I bought this stock today (Wednesday July 20th)," he says.

*You can find our conversation with Grasso about 2 minutes into this video clip.

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Trader disclosure: On July 20, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (XOM) ;Terranova owns (DIS); Terranova owns (WFM); Terranova owns (LULU); Terranova owns (MSFT); Terranova owns (TM); Terranova owns (JWN); Terranova owns (MCD); Terranova owns (PEP); Terranova owns (MA); Terranova owns (BX); Terranova owns (GS); Terranova owns (DAR); Terranova owns (CAT); Terranova owns (VRTS); Terranova owns (AAPL); Terranova owns (F); Terranova owns (CVI); Terranova owns (IBM); Terranova owns (FCX); Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Pete Najarian owns (AAPL); Pete Najarian owns (BX) calls; Pete Najarian owns (HPQ); Pete Najarian owns (MS); Steve Grasso owns (AKS); Steve Grasso owns (AMD); Steve Grasso owns (ASTM); Steve Grasso owns (BA); Steve Grasso owns (BAC); Steve Grasso owns (C); Steve Grasso owns (D); Steve Grasso owns (JPM); Steve Grasso owns (LIT); Steve Grasso owns (LPX); Steve Grasso owns (MAR); Steve Grasso owns (MHY); Steve Grasso owns (NDAQ); Steve Grasso owns (PFE); Steve Grasso owns (PRST); Steve Grasso owns (XHB); Steve Grasso owns (XLB); Steve Grasso owns (XLI); Stutland Owns (GOOG) and short (GOOG) calls; Stutland Owns (IBM) and owns (IBM) calls; Stutland Owns (INTC) and owns (INTC) calls

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