First, the technical trend is still up, so if you're a trend follower, you don't exit now.
Second, LVS' top shareholder, Adelson owns 52% of the company. There is an element of a lack of free float, which makes it easy for bulls to overwhelm the bears.
Third, LVS has transformed itself from an American leisure company to an Asian growth story because 80% of their EBITDA will be from Macau / Singapore from now.
Forth, in terms of price to book, LVS has traded way above its current level. If you look at the chart below, it is still trading below its average. This argument is not very sound, as I note because an investor shouldn't blindly follow the historical valuation band.
Last, the ROE which is a measure of the quality of its earnings, has fallen from 2007's high but is rebounding again. This could be the reason LVS is still worth a buy at this stage and could be possible for it to reach its USD150 high within a year or two!
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