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Strategies & Market Trends : Point and Figure Charting
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From: Fintas9/9/2017 8:34:50 AM
2 Recommendations   of 34816
 
WYNN.. heres's one I MISSED off it's bottom. It had been at 110 ish and near 38 I started drilling down to consider for the bottom. I saw the possibility of the 15 but unfortunately that was at the time I was going thru the numerous exams that led to my brain surgery. So I missed that 38 to the just under 15 that happened very quickly.

LVS was also being slammed and it too dropped from the 38 to 1.30 VERY quickly. Boy did it and it's peak at the time was 130 ish. To this day off the lows no retest of that high but it did get to 85 ish or off the 1.3 or heck 10.. not too shabby.

However, the reason I was willing to step into WYNN at that time was because I understood WYNN was not as vulnerable as he was with Mirage and the debt from Belagio years ago and would be able to stay the course. Obviously he did as the stock turned off the just under 15 and ran ran ran to 245 or near 14 times.

I was able to see the top though and did suggest the 54 off that 245. Not too shabby re the downside and yes I have seen the UP to where it is BUT I expect WYNN to retrace with the possibility of a buy out that would prevent it from the numbers down I can see. I DO NOT see WYNN going back to 245.

I put this up to demonstrate once again there are TIMES to buy.. times TO SELL. TIMES to write deep in the money covered calls/times to buy calls, times to sell puts etc and times to step in after a deep retrace.. 245 to 54 or 191 points would be considered DEEP as in near 70 % ish.. Yet those who did step in at 54 to watch it rise to 149 have done well.

BE smart when buying as well as when to sell.

Do your homework for most are CLUELESS re the history of a stock.

Fintas

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29.16 47•29.16
24.30 X•24.30
19.44 OX•19.44
14.58 3•14.58
9.72 •9.72
4.86 4.86
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