For those of you who could do with some profits in this mess of a market, it’s as good a time as any to cover our short positions on Las Vegas Sands Corp. (NYSE:LVS). I had updated you on this November 19th.

J. Christoph Amberger says the casino industry is following the automaker sector into deep water. He says Las Vegas Sands Corp. (NYSE:LVS) stock is likely to keep on sinking as access to credit dries up. Short traders have a chance to make 20-30% gains by Christmas.

The casino industry has been one of the worst hit by the global downturn. But Jim Stanton says last week’s impressive rally could signal a bottom for sector “stalwarts” like LVS, WYNN and MGM . And mutual fund GACFX is a great way to spread risk on gaming sector investments.

Las Vegas Sands Corp. (LVS) shares more than doubled yesterday (Wednesday) after Singapore’s government pledged support for the completion of a local $4 billion casino project.

Traditional wisdom says vice stocks, such as MGM Mirage (NYSE:MGM), Las Vegas Sands (NYSE:LVS), Wynn Resorts (NASDAQ:WYNN), are supposed to do well in tough economic times.

Today’s Financial News editor J. Christoph Amerger says if they are it’s news to MGM Mirage. On Tuesday, the company’s stock had plunged 10% since the casino complex opened.

The reality is the economically depressed may not have the money to fly to Las Vegas. J. Christoph says stay away from this sector…

Brian Hunt brings you the New Highs and Lows of note last week.