So far, so good on the WYNN short which I posted here and inside 12631 yesterday afternoon.

Getting ahead of the House, though, is nothing new. Las Vegas casinos were built on fool’s gold for gamblers who became overly aggressive emotional, and cocky with some initial luck at the tables.

My short entry was $212.18 with a cover-stop over $218. I am playing for a quick dip before 01/30 earnings, at least down to the 20-day moving average.

If the stock holds under $210 today I will consider adding to the short.

Let’s see if the “casino hosts” try to throw some comps my way to keep my playing.

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“All I know is, I gotta lotta (eye)balls on it, as we discussed yesterday, with too many traders watching it.” -chessNwine

UGAZ is the star of my book today inside 12631, in addition to the WYNN short. Silver and coffee are disappointments and close to getting the boot.

Gold miners are seeing profit-taking and rightly so (we sold some NUGT into the bell yesterday).

And Big Blue (IBM) is still in big technical trouble.

More later.

Drop me some morning tickers.

Looking at CROX as a long idea if price pushes up and out of the orderly 20-day moving average on the first chart below.

ZUMZ is a short idea down out of the bear flag on the second chart.

Which stocks are at the top of your watchlist this morning?

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The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday. 

While Treasuries remain in a new long-term bear market, denoted by the still-confirmed head and shoulders multi-year top on the second chart below (of the TLT weekly timeframe), the daily chart (first one) indicates a snapback rally is still in progress. Patience remains the name of the game here, as a prospective short trade in bonds on the likelihood of higher rates later the year remains a distinct possibility. 

Nonetheless, TLT may very well rally back up to $107, the upper light blue line on the daily chart, before the bear likely reasserts himself again. I would need to see weakness back under $104 to consider shorting (via TBT long as one method, the inverse to TLT). 

Of course, to gain a potential “tell” or insight into how bonds will perform throughout the year, keep an eye on rate-sensitive sectors, such as…

Please click here to continue reading

While the overwhelming majority of airline stocks are now too extended to chase higher, Ryanair is an exception and could easily play catch-up to its peers before earnings on January 27th.

On the first chart below of the daily timeframe, while not a perfect long setup the potential is there to break higher yet out of a long sideways consolation, particularly over $51.

And on the short side, I am still looking at Panera to get hit further on weakness from many consumer-related stocks. The second chart denotes how vulnerable the stock is here.

Drop me your top tickers overnight.

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With earnings a week from tomorrow, it is hard not to have Facebook at least on your long radar, given the coiled up daily chart seen below. To be sure, lots of eyes are on this marquee liquid stock. But the tight basing action above prior IPO highs is indeed impressive.

Also, keep an eye on BID here with even high end consumer plays like TIF getting hit.

More on this after the bell on my video market recap. See you there.

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