bclemms
More than 15K posts served!
Offline
I added to NUGT big yesterday when it it triggered an order at 30.60 and it quickly rebounded. Sold the Abbvie yesterday morning for a quick 3% but not what I was hoping for when I bought it.I can't believe that the buyers are keeping WYNN's price level where it is. Traffic to Macau is now down over 90%. The casinos are empty. As long as the virus is still spreading, you can't start counting quarantine days to look for an end. Those casinos are going to be empty for weeks.
I added to my put position, brought my basis down.
I can't possibly agree more with WYNN. No way in hell that price holds, those casinos are going to be empty for weeks at the very least and it's at the busiest time of the year for them. A company can't lose what is equivalent to their shopping season at the very minimum and hold serve. If it gets to that 125.5 range again I'm adding a ton to the short side.
The market is incredibly healthy right now, hard to get down movement with so much optimism but optimism doesn't overcome reality.