Hubert Senters here.
Let’s take a look at Wynn, WYNN. In the question is do I still like win with the potential target of $92.22? Yes I do. It’s going to take a while to work that way. I don’t think it’s going to be months or years. It’s probably going to be weeks or months.
I just said I didn’t think it’s going to be months or years, it could be months and it could be three, four, five, six weeks. It could do it in the next two weeks. But yes I still like Wynn to the downside.
Overall, it looks pretty nasty. If it breaks this area right here where it’s kind of working its way towards which is right now like $103-ish down to about trying to be as accurate as I can here to $102.25 then I think it’s got a really good shot of dropping down to $92.20.
Here’s how I trade that. I’m going to short it here on the break. Stop-loss would be $108.32 or I would use the high of today which would be less risk and that I’ll use a red color so you can see it. That would be $106 so I’d be risking three and half points on this trade and then the potential first target I would go for would be $92 is what I’d be looking for.
Mark Helweg is going to be doing a special webinar this Wednesday, October 9th ‘’How to Potentially Profit from Huge Market Moves without Predicting the Direction of the Market Moves’’. That will be Wednesday, October 9th at 8PM EST. I will HYPERLINK you to that page.
Good luck. Hope it helps. See you on the next video.