Thursday, May 21, 2009

Another Stock Showing Strong Distribution: WYNN

WYNN was on the long list for quite some time, but has now reversed and is the perfect short setup. A bear flag has formed, with volume that's showing distribution. Many like to wait for price to breakdown out of the flag pattern. I prefer to enter early, when price is at the to of the range.

2 comments:

Tushar said...

There was a nice pop (or not so nice)in BKE today. What is your strategy moving forward on your short position?

JD said...

I agree! Been watching this stock for quite a while. You maybe right to short it. Thanks a lot for all your ideas, been learning from you...