Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Melco Crown Entertainment
So what: The listing is probably a formality. A secondary offering, on the other hand, would dilute existing investors who want nothing to get in the way of a rally that's seen the stock of the Macau casino operator more than triple over the past year.
Now what: To be fair, the selloff may also be due to a broad sector decline. Hong Kong equivalents of Wynn Resorts
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