As low as these stocks may seem and they had a good bounce last week it’s not time to get back into them. At this point they are a pure gamble.

The overall market is trading sideways and could very likely test the lows in OCT.

LVS which has been a favorite for many traders lately needs to raise $2 Billion in cash and has halted their projects in Macau. With the economy in a slump less people will be visiting casinos and I expect earnings will drop in the future.

LVS properties include The Venetian, the Palazzo, The Sands Macao, and The Veenetian Macao. In a filing a few days ago LVS told regulators their debt size is now above the agreed maximum leverage ratio. If the company can’t come up with more financing it made default on IOUs.

Other Gambling stocks that have taken a hit this year include MGM Mirage (MGM), Wynn Resorts (WYNN).