Taking Profits On WYNN Resorts (WYNN) Short
Following our short open on WYNN on June 7th, as discussed here http://www.investorplace.com/44545/stock-to-short-wynn-resorts-nasdaq-wynn/, we are taking full profits today at $132. I still see potential for WYNN to move lower and eventually to our discussed profit area near $130, however: The stock fell quicker than expected and prudent risk management here dictates we take profits, put […]
Dollar Index Getting It Together Again
From the more 'recent' highs in the dollar index back in June of last year, down to the following lows in December of last year, the dollar rallied back 50% and in January of this year found resistance…which also coincided with the 200 day moving average. Given the technical pattern we predicted a downside price […]
Retail Holdrs Trust (RTH) – Watching For Upside Momentum
The RTH recorded an inverted hammer on Tuesday, which often can lead to upside momentum if price doesn't fail far below the candle. So far price has held up and on a daily close above 106.80 this could setup for a good but quick bucket 2 trade to the upside. For now we are still […]