Chart Review: Luxury Retail Is Still In (COH and JWN), Casinos Not (WYNN)

Wynn Resorts, Limited (WYNN) almost seems like a car wreck moving in slow motion. I have followed the multiple breakdowns unfolding in WYNN over the past two months. Today’s 3.5% loss represents follow-through selling from another failed attempt to break through dual resistance at the 50 and 200-day moving averages (DMAs). The October low still … Read more

Strangle Options Play in WYNN

Casino stocks have soared since the July market lows. September in particular has featured some near parabolic moves as shorts get squeezed and risk-seeking behavior has accelerated. Wynn Resorts Ltd. (WYNN) has caught my attention the past two months because its large swings in stock price have made option strangles quite profitable. In a strangle, … Read more