Lakes Entertainment

LACO

Company. Lakes Entertainment "develops and manages casinos and related hotel and entertainment facilities in various gaming jurisdictions, including Indian-owned casinos." (company website)


Buy. Buying Lakes was an act of sheer stupidity. On Monday I watched the price soar from $14 to $17, before dropping back to close at $16, all on very heavy volume. On Tuesday, however, I suspended disbelief when the price fell back only very modestly from the close and bought shares on the quixotic hope that it would continue on up.

loss Bottom line
-6%

Sell. I decided to sell on Thursday when LACO continued to drift lower.

Dumb, dumb, dumb.