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WYNN is a good trading stock right now as it bounces off 146
I have been watching this stock for years, as well as watching the twin towers of Wynn go up in Vegas during my regular trips there. I stopped gambling in casinos years ago but have done quite well with stock trading for many years now. I do not consider stock trading to be gambling. I watch the charts, review fundamentals, follow the news, and look for buy/sell opportunities.
On this stock I currently trade 1000 share blocks. Did that 146 - 147.25, and 146 again to 146.35 on Friday. Believe there will be similar opportunities in the future.
Barring some more bad news on the Macau / China gambling front, Wynn should bounce off 146 and be a good trading stock. I wouldn't short it, but go long for a point or so at a time.
The behind the story of the scene is that in my heavy gambling days, I learned that almost all of those big Chinese gamblers are money launderers or working in cohorts with money launderers. Without getting into details, if the Chinese government clamps down on the flow of money out of the country, gambling will decline further in places like Macau and Vegas, especially due to the big Baccarat players.
EXAMPLE:
Las Vegas Sands resolves laundering case with $47 million deal - Aug. 27, 2013
Caesars Palace under investigation for possible money laundering | Las Vegas Review-Journal
Add to this that China is waging a freshly revamped war against corruption and that no one wants to become known as a gambler who is tossing off millions in foreign casinos, and you see why the Asian gambling sentiment has been stifled.
CORRECTED-China to crack down on foreign casinos seeking Chinese gamblers | Reuters
Counterpoint to this - consider South Korea. It is flat out illegal to take money out of that country so you wonder how big Korean gamblers pay off their foreign gambling debts.
South Korea Court Says Gambling Loans Need Not Be Repaid | Casino News : CalvinAyre.com
Well, over there as in China you have these "money launderers" who will ferret your cash out of the country to pay off your debts. All technically illegal but has been going on for years.
The point being - that if this outward flow of money is quashed, Wynn will go down further. No lobbying by Wynn will convince the Chinese government to okay the flow of money out to pay gambling debts, but in time China's stance may soften to where they give the process the ol' okey-doke that South Korea lends to it.
I have been watching this stock for years, as well as watching the twin towers of Wynn go up in Vegas during my regular trips there. I stopped gambling in casinos years ago but have done quite well with stock trading for many years now. I do not consider stock trading to be gambling. I watch the charts, review fundamentals, follow the news, and look for buy/sell opportunities.
On this stock I currently trade 1000 share blocks. Did that 146 - 147.25, and 146 again to 146.35 on Friday. Believe there will be similar opportunities in the future.
Barring some more bad news on the Macau / China gambling front, Wynn should bounce off 146 and be a good trading stock. I wouldn't short it, but go long for a point or so at a time.
The behind the story of the scene is that in my heavy gambling days, I learned that almost all of those big Chinese gamblers are money launderers or working in cohorts with money launderers. Without getting into details, if the Chinese government clamps down on the flow of money out of the country, gambling will decline further in places like Macau and Vegas, especially due to the big Baccarat players.
EXAMPLE:
Las Vegas Sands resolves laundering case with $47 million deal - Aug. 27, 2013
Caesars Palace under investigation for possible money laundering | Las Vegas Review-Journal
Add to this that China is waging a freshly revamped war against corruption and that no one wants to become known as a gambler who is tossing off millions in foreign casinos, and you see why the Asian gambling sentiment has been stifled.
CORRECTED-China to crack down on foreign casinos seeking Chinese gamblers | Reuters
Counterpoint to this - consider South Korea. It is flat out illegal to take money out of that country so you wonder how big Korean gamblers pay off their foreign gambling debts.
South Korea Court Says Gambling Loans Need Not Be Repaid | Casino News : CalvinAyre.com
Well, over there as in China you have these "money launderers" who will ferret your cash out of the country to pay off your debts. All technically illegal but has been going on for years.
The point being - that if this outward flow of money is quashed, Wynn will go down further. No lobbying by Wynn will convince the Chinese government to okay the flow of money out to pay gambling debts, but in time China's stance may soften to where they give the process the ol' okey-doke that South Korea lends to it.
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