I had a nice long trade in WYNN last fall. Now, however, I am flipping the script and taking on the house, Ocean’s 11-style.

I am short WYNN @ $212.18 inside 12631 for a quick flip in front of January 30th earnings.

The extended stock, I believe, is ripe to come in here. Cover-stop is above today’s highs.

Chart and analysis to come in the video recap after the bell.

I have previously discussed this monthly chart, of Microsoft, and will update it again after the bell on my video market recap.

There are historic (and broad market) implications of this chart and how it resolves, considering price is back to the late-2000 and 2007 highs.

More to come soon.

Drop me some afternoon tickers.

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Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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In addition to Halliburton breaking down from a well-defined consolidation in a corrective pattern (declining 50-day moving average), also consider WHR on the second chart. Whirlpool has seen a very steep run higher in recent quarters and is threatening a rising wedge breakdown today.

What are you trading this morning?

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Equities as a whole are seeing the morning gap higher close, as the selling picked up since the opening bell.

What is most peculiar about this morning’s action, though, is seeing the big spread between the leading miners (in the precious metals complex) versus the lagging metals.

The two charts below illustrate this, daily timeframes of the gold miner and silver ETF’s. I am currently long both inside 12631 and will be watching this spread closely to see in which direction it resolves.

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The thesis I posted last October about the Conoco/Exxon spread narrowing (with COP selling off after having been a strong winner and laggard XOM rallying sharply) has done so in a bold manner. With this in mind, and sticking in the energy space, Marathon Oil is sporting a chart which has the makings of further weakness. T

he stock has been a short idea of mine in 12631 over the weekends in my Strategy Session for a while now, and looking at the weekly chart you can see why, in danger of breaking down from the weekly chart consolidation highlighted by the light blue lines.

Earnings are scheduled for February 5th.

What is your on watchlist this morning?

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