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Toddo on TV: Out of Luck?

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Markets, movers and more.

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Will this economy be a game-changer for gaming stocks (forgive us the weak pun)? MGM Mirage (MGM), Wynn Resorts (WYNN), Las Vegas Sands Corporation (LVS) and International Game Technology hit 52-week lows today. Hurry up and watch; Toddo has to catch a flight to Vegas in an hour.



Now watch this! Todd's got his eyes trained on Detroit: General Motors (GM) as a proxy for "bounce" candidates, U.S. automakers as possible takeover targets by foreign entities and a General Motors-Ford (F) hookup, which isn't the answer to the industry's problems any more than airline mergers are a cure for the high cost of fuel.



The greenback is off 37 percent since 2002 and a stunning 97 percent since 1913. Factor in the widespread negativity of money managers, rappers and supermodels, and a countertrend bounce doesn't seem so strange. Through the lens of dollar devaluation versus asset class deflation, one would think equities would have benefited in kind. The fact that they haven't may be an ominous omen. In Toddo's view, the greenback will rally, either as a cause (foreign holders pressuring for higher rates) or an effect (as our indebted world pays back dollar-denominated obligations).
No positions in stocks mentioned.

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