It has been a while since I did some analysis on Wynn Resorts (WYNN) but right now it is in the process of forming an inverse head and shoulders pattern,and the last time I said that, it made some very nice gains for traders. Now WYNN finds itself in similar surroundings yet again, and there’s a good chance I’ll take a stab at a long position in this stock before the end of the day.
I’ve also bought NLSN at $28.70 that is doing very well from this morning’s action and plan to hold overnight. I’m waffling a bit though on my QIHU trade, which hindsight, I would’ve been better off booking the gains at the open when it spiked 6%. Ideally, I’d like to see it salvage the day and at least finish a couple percentage points higher.
Here’s today’s Lazy Trades Long & Short:
LONG: Wynn Resorts (WYNN)
SHORT: CF Industries (CF)