The bulls have kept pushing Macau casino stocks higher in the past few days thanks to the better-than-expected Macau casino gaming revenues but analysts warn that the rally will be over in a blink of an eye.

CNBC News reported that traders are still in a wait-and-see mode in terms of betting on Macau casino stocks despite Macau’s September gross gaming numbers rising 7.4 percent from last year.

“Although the global backdrop for the overall economy is decelerating, these stocks have moved higher based off of the fact that they believe that China has stabilized,” Chad Morganlander, a portfolio manager at Stifel Nicolaus, said on CNBC’s “Trading Nation.” “We don’t believe that to be the case.”

According to Morganlander, the persisting Chinese economic malaise will continue to affect Macau’s economic performance in general.