April 15, 2011

$WYNN - Break Out / Suggestion

Just an observation. Since WYNN gapped/ broke out on 4/1/11, it slightly broke its 10d moving average on 4/12/11. Two possible scenarios for a trailing stop would be to use the 20d or 50d moving averages as a trailing stop. Which ever used, wait until the daily bar closes below the moving average. The following day, your stop aught to be right below the low of the bar that closed below the 20 or 50d moving average. As i have not been trading this week due to an addition to my family, I will be looking to enter WYNN on any pull back next week.

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