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Tuesday, May 5, 2009

WYNN rocks! As advertised!

WYNN resorts closed at the half century mark today. 50 bucks!

One month ago, I touted this number on April 2 at 27:

Wynn Resorts, which has the best balance sheet of any casino in Vegas, was hammered by shorts who have laid all over this stock. Now it's time for these 18 million shares shorted to be squeezed.
http://aaronandmoses.blogspot.com/2009/04/action-is-at-casinos.html

I'm gone. A double in a month is good enough for me! Maybe it will spike to 55, but I think the shorts have gotten a bit squeezed, and I like it when they buy my shares!

Furthermore, I think Steve really wants to buy the Bellagio, and I'm sure he's interested in selling more stock, to raise some more money, to do that.

Steve said he wouldn't be an aggressive buyer in Vegas right now.

I don't buy that for a second! Why would he advertise his intentions?

And if I want to trade the casinos, I can hang out with the daytraders at the MGM post!

2 comments :

Anonymous said...

NEWSFLASH: CAUTION THIS MAY ROCK THE MARKETS

GM reduces value of common stock to 1 cent per share.

http://edgar.sec.gov/Archives/edgar/data/40730/000119312509100053/dpre14c.htm

Palmoni said...

That will have bearing at all.