Well, not being around on May 10th cost me a pretty penny, as well as being greedy a few days ago when it was back at $195. Down about 10% since then in just a few trading days. Was up nearly 20% on my position, now it's only 5.39%. As long as it holds the 200MA though, I won't be worried.
I would call support at 168.41 because that is where demand came in to break it out of a several-week-long trading range. It is amazing how the 200 SMA (blue line) is approaching that level. But they don't manipulate the markets, nahh couldn't be . Let's just say they know what all the eyeballs are watching.
Kicking myself every day I realize I hit my target but wasn't around and missed it, still holding although I may have to sell for a small loss soon considering support at the 200MA was just lost, we'll see if it recovers before mid-week.
I stopped out at the open today for a little less than a 5% loss. Definitely missed my sell in mid-may, but oh well. It was my smallest position due to limited capital at the time I bought it, so it doesn't hurt that bad as long as I just look at it as a 5% loss instead of what could have been if I sold at my target price.
Yield going up if they can sustain it through the mess. This was a money maker of mine back in `09! Weekly profile points to $80 as the inflection point, but that's only a 5% yield if my math is right and the dividend stays. Dividend leaves and it will probably lose $80 quickly! Could lose $80 prior to killing dividend too... need more research there on history of that $80 level. I'm Vegas bound in 13 days if planes are flying and they let me check into my room. Can't afford the Wynn tho!
I would short this big time. No one going to Macau now and that is one of their big sources of income. Vegas will be next if Coronavirus gets worse. Chinese will not be going there as they will be avoiding crowded places especially where other Chinese may be.
That suport is quite old, however any pick bellow that level has low risk and an eventual interesting return.
Yeah, it looks like all support levels are out the window here. Its going to be a painful summer for these casinos.
The odds of them being profitable this summer are lower than the gambling addicts that patronize their gaming machines.
Although... Macau is ahead of us by several weeks, if there is a return to gambling, it will start off there.
WYNN and LVS are the strong sector today holding up this market. Im looking for failure soon, cant imagine too many people gonna chase +12% here
