WYNN - Wynn Resorts, Ltd. - Page 11

Hadn't touched this one in a while, but it came across my radar today.  Looking at their earnings report, it looks pretty good to me.  Beat across the board, guidance is good, yet it took a hit.  I loaded up at 117.

Quote:

Originally Posted by Quintious 

Hadn't touched this one in a while, but it came across my radar today.  Looking at their earnings report, it looks pretty good to me.  Beat across the board, guidance is good, yet it took a hit.  I loaded up at 117.

Yeah, the earnings and quarterly reports are impressive, but what is super scary is the insider trading.  It's astronomical.  Over $215 million worth of stock dumped by top executives since November with $200 million of that occuring in December.  I typically wont buy a stock if there's over $5 million sold by insiders within the past 3 months, so this one really stood out to me.
 

Quote:

Originally Posted by kruelgor 

Quote:

Originally Posted by Quintious 

Hadn't touched this one in a while, but it came across my radar today.  Looking at their earnings report, it looks pretty good to me.  Beat across the board, guidance is good, yet it took a hit.  I loaded up at 117.

Yeah, the earnings and quarterly reports are impressive, but what is super scary is the insider trading.  It's astronomical.  Over $215 million worth of stock dumped by top executives since November with $200 million of that occuring in December.  I typically wont buy a stock if there's over $5 million sold by insiders within the past 3 months, so this one really stood out to me.
 

I had read an article somewhere talking about that last month, and the gist of it was that the December selloff was due to worries about an increase in capital gains taxes that they were trying to get around.  Or something along those lines.  It didn't make a whole lot of sense to me since I'm not an accountant, but unless someone there is cooking the books it doesn't appear that they were trying to duck out ahead of some sort of bad news since there's been nothing to indicate they were fleeing for the exits due to bad news.

It really doesn't get any simpler than that, folks. 

New York, March 4th (TradersHuddle.com) - Shares of Wynn Resorts Limited (NASDAQ:WYNN) closed the trading session at $130.53 just above calculated resistance at $129.60 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Wynn Resorts Limited (NASDAQ:WYNN) owns and operates luxury hotels and destination casino resorts in Las Vegas, Nevada and in Macau, China. The resorts features guest rooms and suits, restaurants, golf courses, and on-site luxury automotive dealerships.

Wynn's stock was trading in a well defined range with support at $116.36 and resistance at $129.60, given that this range was broken traders will be closely monitoring the stock?s price action for clues of direction.

From a technical perspective it can be expected that previous resistance becomes support, as the new range gets defined, however, given that Wynn's stock is still near the broken resistance level, traders will be focusing on $129.60 to see if the stock holds the breakout without rolling over.

http://www.tradershuddle.com/Trading-Ideas/17872703042011-wynnresorts-moving-above-resistance.html

one year chart on this is insane...