Add WYNN Puts

200-Day MA Breakdown

By Bryan Bottarelli
Thursday, January 03, 2008 9:56 AM EST
Thu, 3 Jan 2008 14:56:00 GMT

Dear Bottarelli Research Member,

We all know the story of Wynn Resorts and Casinos (WYNN – NASDAQ), as the lead-up to the 2008 summer Olympics in China could draw investor attention to their casino operations in Macau. But here in the near-term, WYNN’s technical chart just revealed a strong breakdown formation, as the stock moved below its 200-day moving average yesterday and is unable to bounce back above this critical level thus far today. This warrants the immediate purchase of January puts for a fast break-down, so let’s go ahead and enter this play now!

WYNN

PLAY: Buy the WYNN January 105 Puts (UWY MA) at or under $4.60, good for the day. Current bid/ask spread is $4.20 to $4.40. Place a protective stop limit at $2.10.

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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