Posts Tagged ‘WYNN’

Thrilling Thursday – Rejection at S&P 2,000

SPY 5 MINUTEOh my God, it's dip!  

The Futures are off a bit today and that's no surprise to those of us who have been paying attention to the volume, or lack thereof, as we made our final approach at the 2,000 line on the S&P 500.  Jim Cramer was literally foaming at the mouth this week as he and his CNBC co-conspirators herded the sheeple into the markets to participate in the tail end of the rally, where the suckers could hold the bags for their Corporate Masters.  

Why am I angry at Cramer today?  Because yesterday he committed the same crime he commtted in 2008 that cost so many people their life's savings – he told people not to sell their stocks on a pullback.  "Don't take profits" is the message for the viewing public.  But, I would ask, if people don't take profits – when will they ever get profits?  What kind of stupid message is that?  Well, it's the message that leaves you holding the bag while his hedge fund buddies head for the exits.  It's not much different than telling one group of people not to leave a burning building while you make sure all your friends are getting out safely.

"This is not just my opinion. I can prove it to you empirically. See, as I was preparing to write my book "Get Rich Carefully," I went over the previous five years of trades made by my charitable trust. And as I reviewed those trades I noticed that far too often, my good judgment would be overcome by excessive skepticism."

If the "proof" Jim is talking about is his Action Alerts Plus, then I'd say you really should think long and hard about following his advice here (via Kirk Lindstrom – who does compete with Cramer):

Jim Cramer's Action Alerts Plus Performance & Returns

I guess, sure, Jim legitimately should regret that he wasn't more bullish from 2008 to 2013, when the market popped 200% and his trust gained about 100% but don't you think the lesson Cramer should be taking from that experience is to CUT YOUR LOSSES, not
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The End of May – Heading into June with CASH!!!

I hurt myself today
To see if I still feel
I focus on the pain
The only thing that's real – Nine Inch Nails

Were we wrong to cash out?  

It's hard to feel bad about taking a 19% profit off the table after just 6 months (in our $500,000 Long-Term Portfolio) but we had another low-volume pump-job yesterday that sent some of the positions we closed up sharply and left us regretting our timing – just a little.  

Still, the time to sell your positions is when other people are buying, not while everyone is panicking.  We got great exit prices and, on the whole, it was fairly stress-free.  S&P 1,920 was our predicted top and we pulled the trigger to take the money and run at 1,910 because, as experience has taught us – it doesn't pay to be greedy! 

Last week and this week, I laid out my case for why the economy is not as good as it seems and certainly not good enough to be paying all-time highs for stocks.  As you can see from the chart on the left – I'm certainly not the only one who thinks so as the "smart money" has flown out of the market this year, taking advantage of each record high to sell, Sell, SELL!!!

We were a little more patient, we moved our Conservative Income Portfolio ($500,000) to cash at the end of March and avoided the April sell-off and have since been buying bargain stocks in that portfolio.  We had left our more aggressive Long-Term Portfolio ($500,000) on the table but this last leg of the rally left it up a ridiculous 19% for the year – and that's halfway to our best-case goal so it's a good time to take a break, step back, and see how the market handles early June.  

SPY 5 MINUTEIt's not like we can't find anything to do with our cash.  In additions to our usual Futures trading, we still have our Short-Term ($100,000), Butterfly ($100,000) and $25,000 Portfolios to play with and, since Wednesday
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Casino Stocks LVS, WYNN On The Run Ahead of Earnings

Shares in Las Vegas Sands Corp. (Ticker: LVS) are up sharply today, gaining as much as 5.7% to touch $80.12 and the highest level since April 4th, mirroring gains in shares of resort casino operator Wynn Resorts Ltd. (Ticker: WYNN). The move in Wynn shares appears, at least in part, to follow a big increase in target price from analysts at CLSA who upped their target on the ‘buy’ rated stock to $350 from $250 a share. CLSA also has a ‘buy’ rating on Las Vegas Sands with a $100 price target according to a note from reporter, Janet Freund, on Bloomberg. Both companies are scheduled to report first-quarter earnings after the closing bell on Thursday.

A block of call options traded on LVS during the first hour of the session suggests one options market participant may be positioning for the price of the underlying to extend gains during the next couple of months. It looks like 5,535 of the 20Jun’14 calls were purchased at a premium of $1.70 each. The position makes money at expiration in June if shares in LVS rally 9.0% over the current price of $79.82 to exceed the effective breakeven point at $86.70. Shares in LVS earlier this year traded up to a six-year high of $88.28. Shares in WYNN for its part are currently trading up 5.5% on the session at $215.71.


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Aeropostale Options Active As Shares Gain On Abercrombie’s Earnings Beat

 

Today’s tickers: ARO, WYNN & PETM

ARO - Aeropostale, Inc. – Shares in teen retailer, Aeropostale, Inc., are up 6.2% this morning at $13.87 in sympathy with Abercrombie & Fitch after that company raised its guidance for full-year earnings and reported better-than-expected third-quarter results before the opening bell on Wednesday. Aeropostale, which acquired online women’s apparel and shoe retailer GoJane.com yesterday, is scheduled to report third-quarter earnings after the close of trading on November 29th. ARO call options are buzzing with activity today, with some traders adjusting existing positions, while others take profits and establish bullish stances on the stock ahead of earnings in two weeks. One strategist responsible for the purchase of approximately 2,000 Nov. $14 strike calls for a premium of $0.10 apiece back on October 31st appears to be selling the calls today for three times that amount, or $0.30 in premium per option contract. Meanwhile, the purchase of more than 2,000 upside calls out at the Dec. $14 strike for a premium of $1.00 apiece looks for shares in ARO to extend gains in the near term. The trader or traders picking up the Dec. $14 strike calls may profit at expiration next month if shares in Aeropostale rally another 8% to surpass the average breakeven price of $15.00 at expiration. Call buying spread to the Dec. $15 and $16 strikes as well, with more than 500 contracts purchased at each strike earlier in the trading session. Interest in the Dec. $14, $15 and $16 strike calls today adds to positions established during the prior trading week.

WYNN - Wynn Resorts Ltd. – Trading traffic in call options on casino resort operator, Wynn Resorts Ltd., this morning suggests one strategist is positioning for shares in the name to rally substantially by year end. Shares in Wynn Resorts are down 1.2% this morning to stand at $105.67 as of 11:50 a.m. ET. The most active contracts on WYNN by volume so far today are the…
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Coventry Call Buyers In The Black Following Aetna Deal

 

Today’s tickers: CVH, CS & WYNN

CVH - Coventry Health Care, Inc. – Options traders who purchased Coventry Health Care call options earlier this month are sitting on substantial paper profits this morning; shares in the managed care company rose 19% to a new four-year high of $41.70 on news Aetna is buying the company for $42.08 a share, in a deal valued at $7.3 billion. One winning trade initiated just before the weekend was the purchase of 220 of the Sept. $36 strike calls for a premium of $0.80 apiece. These contracts are now deep in-the-money and cost $5.80 each to purchase, or 7.25 times more than one trader paid on Friday afternoon. A larger bullish stake was established last Wednesday with the purchase of 2,650 of the Jan. 2013 $33 strike calls at a premium of $2.55 per contract. The asking price on the calls is currently up three-fold at $8.90 apiece as of 11:30 a.m. in New York. Finally, the purchase of some 1,650 calls at the Sept. $35 strike for an average premium of $0.53 each back on August 6th has generated big potential profits. Traders who picked up the $35 calls at $0.53 apiece could currently sell the calls for 11 times as much, or $6.30 per contract, as of 11:40 a.m. ET. Another winner from the deal is hedge fund, Greenlight Capital, Inc., which disclosed a 4.98% stake in Coventry and a long position in around 3.1 million shares in Aetna in the second quarter ended June 30th.

CS - Credit Suisse, Inc. – Traders are buying upside call options on Credit Suisse for a second consecutive trading session, positioning for shares in the Swiss bank to rebound. The stock has lost 40% of its value since March 19th, slipping around 1.5% this morning to $17.98. On Friday, buyers stepped in to pick up approximately 4,000 of the Sept. $18.97 strike calls for an average premium of $0.50 each…
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Thrill-Ride Thursday – Here We Go Again

SPY 5 MINUTEWheeeeee!

We are just loving these crazy-assed market moves.  Every morning we have a pump job to short into and every afternoon there is a BS stick-save to re-establish our shorts.  It's merely a matter of time before those floors begin to crack.  I mean, really – how much of this abuse can they take?  

Notice, in Dave Fry's SPY chart, the high-volume selling followed by low-volume pumping – that's the very unhealthy pattern the "rally" was built on, which means there really aren't any buyers waiting to scoop up shares when they dip – just Trade Bots that tease the indexes higher so the IBanks can keep pulling in the bag-holders as the "smart money" stampedes for the exits. 

Yesterday was great fun.  As I noted in the morning post, we went short on the Oil Futures (/CL) at $104.50 in our morning Member Chat and even in the morning post there was still time to catch it at $104.  Oil sold off all the way to $102.60 at 2:10 and my 2:14 comment to Members nailed the turn as I said:  

Oil coming right to our goal at $102.50 ($38.50 USO) so let's not be greedy and look to take $1.20 off the table on those 1/2 USO positions in the $25KP and $5KP as it's better to get out while the gettin's good

USO WEEKLYThat's what we mean when we talk about taking non-greedy exits (I had set $38.50 as my USO target for our exit at 11:08 but it didn't look like we'd get it so we got out).  We caught the bottom and got out clean and this morning we got a chance to re-load our shorts at $103.50 on that predictable morning pump.  Sure, you can say the markets aren't fixed and maybe we just have amazingly good timing – either way we make the same money!

We did manage to find a few things we liked, one of which was CHK, as the stock plunged to $17.20 on much ado about not too much as people took issue with the CEO borrowing money to invest in their wells.  We didn't think it was such a big deal and our trade idea at at 10:23 in Member Chat gave us a good opportunity to buy right into the day's…
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Whipsaw Wednesday – Dip Buying or Just Dips Buying?

SPY DAILYWas that it?

On February 24th I wrote "TGIF – Sell in March and Go Away?" and I laid out my case for why I thought we were going to fall off the table in March and we have, indeed, fallen right off the table right on schedule since then.  I said that Friday, that the post was intended as a bookend to my September 30th bottom call as I felt that we had captured all of the upside we were likely to see off the "good news" that Greece was "fixed" and the economy was "improving."  

I'm not going to say anything bad about the economy here, I'll let Michael Snyder do that with his "15 Potentially MASSIVE Threats to the US Economy over the next 12 Months" – I think he pretty much covers it!  8 trading days ago (2/24), we had two short trade ideas in our Morning Alert to Members, they were:

  • SQQQ April $13/17 bull call spread at .70, still .70 (even) 
  • DXD April $13/15 bull call spread at net .55, now .70 – up 27%

SPY WEEKLY In Member Chat that day, Exec asked if I was getting bearish and my response was:  

Bearish/Exec – Are you kidding, this is me painting a sunny picture! Give me a few drinks and I'll tell you how off the rails the Global Economy is right now… Do you know how much Kool Aid I have to consume not to scream short on every single stock I see. CAT $116, CMG $386, DIA $130, GMCR we already did at $70, IBM $200, KO $70, MA $415, MCD $100, MMM $88, MO $30, MON $80, MOS $59, OIH $45, PCLN $593 (did them too), QQQ $64, SPY $137, TM $85, USO $41.50 (got 'em), UTX $84, V $117, WYNN $119, XOM $87, XRT $59 (got 'em) – and that's just off my watch list of stock I like to buy when they're cheap! We are not just priced for perfection, we are priced for perfection plus a return to full employment a forgiveness of all debts without write-downs and inflation without rising interest – we are priced for Nirvana!

It's a big list but, of course, they are pretty much all winners now, with PCLN the notable exception (so far).  Later that day, during Member Chat, we
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Deal Or No-Deal, Frenzied Action In WYNN Options Continues After Stock Resumes Trade

 

Today’s tickers: WYNN, FL & JPM

WYNN - Wynn Resorts, Ltd. – More than 36,000 option contracts changed hands on the casino operator on Friday morning before the stock was halted with news pending at 10:18 a.m. in New York trade. Wynn Resorts kicked off the final trading session of the week up better than 6.0%, making it the biggest gainer in the S&P 500 Index, after an 8-K filing, which has since been retracted by the company, suggested progress had been made on a new resort in the Cotai region of Macau. The stock resumed trading after Wynn Resorts said the 8-K was mistakenly filed and shares surrendered gains temporarily as the market digested news of the retraction. Clawing back the filing does not seem to have dampened excitement over potential expansion in the gambling hub, as Wynn’s shares quickly regained their footing to hit an intraday high of $132.59 after trading resumed. Options volume on the Las Vegas-based company has doubled since this morning, with more than 80,000 contracts in play as of 1:00 p.m. ET. Investors are favoring calls over puts, exchanging roughly 1.9 call options on WYNN for each single put contract in action today. The stock continues to be the leader in the S&P 500, though shares are off their highest level this afternoon, currently up 5.5% on the day to stand at $128.77.

FL - Foot Locker, Inc. – Options on athletic footwear and apparel retailer, Foot Locker, Inc., are more active than usual this morning following the release of better-than-expected fourth-quarter earnings after the bell on Thursday. Shares in the New York, New York-based Company rallied earlier in the session, but slipped into negative territory to trade 1.1% lower on the day at $29.10 as of 11:30 a.m. on the East…
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Bullish Bets Build In Wynn Resorts Weekly Options

 

Today’s tickers: WYNN, CTRP, DTV & WMT

WYNN - Wynn Resorts, Ltd. – Weekly options on Wynn Resorts are humming with activity today on news the casino operator is cutting ties with principal shareholder and director, Kazuo Okada. Wynn is the biggest gainer in the S&P 500 Index this afternoon, with the stock trading 6.7% higher on the day at $120.24. Options activity suggests some traders expect the stock to extend gains on the news, at least through the end of this week. Feb. ’24 $120 strike calls printed the most volume of the weekly contracts, with some 2,660 lots changing hands against open interest of 204 positions. It looks like most of the $120 strike calls were purchased for an average premium of $2.04 apiece. Traders long the contracts stand ready to profit at expiration in the event that Wynn’s shares rally another 1.5% to surpass the average breakeven price of $122.04. Bullish activity spread to the higher Feb. ’24 $125 strike where around 1,100 call options were snapped up at an average premium of $0.50 each. Finally, fresh interest is building in far out-of-the-money contracts at the Feb. ’24 $130 strike where some 925 contracts traded against zero open positions. Most of the calls appear to have been purchased for an average premium of $0.16 each, positioning traders to profit should shares soar 8.25% to top the average breakeven price of $130.16 by expiration. Shares in WYNN last traded above $130.16 in November of last year.

CTRP - Ctrip.com International, Ltd. – Shares in China’s largest online travel site took a big hit Tuesday after the Company reported lower-than-expected fourth-quarter earnings on Monday. The earnings miss was followed by a number of analyst downgrades, helping drive Ctrip.com’s shares down as much as 10.3% to an intraday…
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TGIF – Saved by the Bell or on a Highway to Hell?

UUP WEEKLYWheeeeeeeee, what a ride this week!

Since we went bearish on Tuesday afternoon, the Dow has dropped 450 points.  That pushed our White Christmas Portfolio over the top (as we flipped bearish, of course) with a virtual balance of $26,075 including $2,565 of unrealized gains on our still-open (and still bearish) positions.  That’s up $11,075 (73.7%) from our $15,000 start on October 24th and we’ll be getting back to cash and going for another $10,000 (our original goal) before Christmas.  

How did we do it?  We teach keeping trades short and simple in a choppy market as we stick to our trading range.  Trades in the WCP were very much like the trade ideas I published Wednesday morning, from our Tuesday Member Chat at 3:21.  As we had a little BS rally Wednesday afternoon, many of the trades were still makeable that day.  In fact, in Seeking Allpha, where the post didn’t even go up until later that morning, Jamesbwood was able to take advantage of the XOM $77.50 puts at .14 (less than our original entry) and took a double off the table at .28 – a 100% day trade!  

All of those trades ideas are great examples of the kind of trades we look for in our White Christmas Portfolio (our current, virtual, short-term portfolio) – ones we can get quickly in and out of with nice gains.  We were quite satisfied with our oil shorts and cashed those out yesterday and, had President Obama followed my advice and sold those 140M barrels for $100 (could have gotten $102), he could have bought them back yesterday at $98.50 for a quick $210M profit – enough to pay for at least an hour’s worth of the deficit!  Percentage-wise, he would have been better off subscribing and taking those trade ideas from our Member Chat.  Those Wednesday morning trade ideas were:  

  • GOOG $625/620 bear put spread at $3.10 is a nice downside play – figure risking $1 to make $1.90.
  • GOOG is at $600 and this spread will likely expire at $5 today – up 61.3%

  • MMM $82.50 puts are $1, also a good trade for a crash tomorrow.
  • MMM finished the day at $80.43 and the $82.50 puts were $2.35 – up 135%

  • WYNN $130/125 bear put


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ValueWalk

Musk: Tesla stock will be crushed if we don't control costs

By Michelle Jones. Originally published at ValueWalk.

Tesla CEO Elon Musk warned employees in an email that if they don’t start controlling costs, their stock will plunge. Shares of Tesla stock fell by about 4% after the email was reported.

Q3 2020 hedge fund letters, conferences and more

Tesla CEO calls for cost control to support stock

CNBC and Electrek obtained the...



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Kimble Charting Solutions

Are Commodity Prices About To Let The Good Times Roll?

Courtesy of Chris Kimble

Commodities have traded “heavy” for the past decade, as bond yields remain low and inflationary forces remain under wraps. But this trend could be up-ended as we head into 2021.

Today’s chart 2-pack looks at long-term “monthly” charts of the Thomson Reuters Equal Weight Commodity Index and the 10-Year US Treasury Bond Yield.

Over the past decades, Commodities and Yields have shown weakness. The Commodity Index has managed ...



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Zero Hedge

China Lands Spacecraft On Moon To Collect Lunar Rocks 

Courtesy of ZeroHedge View original post here.

According to the Chinese state-run CGTN news channel, China's National Space Administration declared on Tuesday morning that it's "Chang'e-5 successfully landed on the near side of moon." 

Chang'e 5, China's first-ever attempt to collect lunar rocks and conduct a return mission back to Earth, apparently touched down this morning. Not much on the landing was conveyed by CGTN, who only offered a single-sentence statement. 

Over the next few days, th...



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Phil's Favorites

Salesforce Confirms Deal To Buy Slack

Courtesy of ZeroHedge

It's official. After reportedly entering high-level, late-stage talks, Salesforce, one of the newest members of the Dow 30, has agreed to buy Slack, a former Silicon Valley "unicorn" that IPO'd last year.

Shares of the Slack have surged in after-hours trade on the news, as if the massive surge seen following the initial reports that the two companies were in talks wasn't enough.

Here are the juicy details: $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals...



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Biotech/COVID-19

Rapid COVID-19 tests can be useful - but there are far too few to put a dent in the pandemic

 

Rapid COVID-19 tests can be useful – but there are far too few to put a dent in the pandemic

Rapid tests for COVID-19 are easy to administer and give fast results. AP Photo/Julio Cortez, File

Courtesy of Bonnie LaFleur, University of Arizona and Katherine Ellingson, University of Ari...



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Digital Currencies

Five Reasons Why Bitcoin is Going Up

 

Five Reasons Why Bitcoin is Going Up

Courtesy of 

Call it the “Respectability Rally”…

A few reasons for Bitcoin’s return to the record highs. It’s about $18,500 as of this writing, matching the previous highs from 2017’s original explosion.

Reason one: It’s going up because it’s going up. Don’t scoff, this is the reason most things in the markets happen and then the explanations are called for afterwards. I’m in financial television, I have literally watched this process occur in real-time. The more something moves in a given direction, the more peop...



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Politics

Mythmakers: The Men Who Created Donald J. Trump

 

Mythmakers: The Men Who Created Donald J. Trump

Mark Burnett, Jeff Zucker, and the Trustwashing of a Fake President

Courtesy of Greg Olear, Prevail, author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Friday, 12 June 2020, 08:06:43 PM

Click for popup. Clear your browser cache if image is not showing.


Comment: Interesting (2)



Date Found: Saturday, 13 June 2020, 12:27:02 AM

Click for popup. Clear your browser cache if image is not showing.


Comment: Recession Forecasts Time Frame



Date Found: Monday, 15 June 2020, 11:07:52 PM

...

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Mapping The Market

COVID-19 Forces More Than Half of Asset Management Firms to Accelerate Adoption of Digital Marketing Technology

By Jacob Wolinsky. Originally published at ValueWalk.

There is no doubt that the use of technology to support client engagement initiatives brings both opportunities and threats but this has been brought into sharp focus this year with the COVID-19 pandemic.

The crisis has brought to the fore the need for firms to enable flexibility in client engagement – the expectation that providers will communicate to clients on their terms, at their speed and frequency and on their preferred channels, is now a given. This is even more critical when clients are experiencing unparalleled anxiety from both market conditions and their own personal circumstances.

...

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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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