Replies to post #41840 on Elite Swing Trades

[JLS]

News like that ...

is what makes pump-&-dumps work.

Below is a P&D on Facebook. And yet it only had the recent overhead resistance you can see on the chart.

WYNN has lots of overhead resistance, so there are many who have good reason to take profits after the pump, and that will create a dump.

Here's a boat load of SEC reports for WYNN insiders:

http://yahoo.brand.edgar-online.com/default.aspx?cik=1174922

Check that list and you'll see Stephen bought over 800K shares early last December at prices in the low $60s (you know, like $63, $64), then the stock tanked in January, so naturally he bought more.

Invest with the trend until the trend changes, then change your trade. The trend for WYNN has been flat for months. There's no reason for that to change, and price is in the upper part of that range. Analysts must agree: there has been no change in next quarter's earnings estimates in spite of the last earnings beat.

[JLS]

WYNN vs $SPX

Bought WYNN Feb 26 $74 Puts today.