Trade Idea: VICIVici properties is showing weakening in its trend. This has been directly tied to the weakness in XLRE - real estate
We believe VICI properties has much more downside. This specific Real estate play also has much property exposure to the casino type names.
With many of the Casino charts like MGM, LVS looking "topheavy" this may be a correlated play that already has headwinds from the weakening in real estate.
If the economy weakens to a degree the consumer discretionary stocks should also be hit.
