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CALL TO ACTION


Four days is not enough to call a trend but January started off better than December finished, but still down 16% YoY. With the easiest comp in some time, January should fare better than recent months, optically. However,  February could rival December as the worst month ever in terms of YoY performance.

Please see our detailed note:  http://docs.hedgeye.com/HE_Macau_1.6.15.pdf