An interesting story developing as a rotation of sort is happening in the market. Many of the highest of the high fliers of 2010 are being sold aggressively the past two weeks, as money rotates into other sectors such as financials and energy. Generally you don't want to see your 'generals' shot like this, but this market has no worries about anything and continues to trudge upward in a systematic way. Netflix (NFLX) is especially interesting because it was just included in the S&P 500 ...spiked on the news, and has sold off hard... about ready to 'fill the gap' in fact..... well, one of them. If it breaks that 50 day moving average, the gap at $155 calls.
As for Las Vegas Sands (LVS), other than 1 session in November, we had not seen a break of the 20 day moving average since mid August 2010. The stock has now been below that level for 6 sessions - the momo crowd is definitely exiting this one. In retrospect that huge spike in volume in December (some negative news in Macau) was a warning signal. The gap at $41 beckons...