WYNN: A Long Strange Round Trip

06/24/08 05:47PM EDT
Stocks don't lie, people do. And oh boy have I had to endure plenty of Wall Street hedge fund analysts and managers tell me how wrong I was being short this one.

WYNN got marked at $172.90/share into month end of October 2007, and has since been cut in half. My Partner, Todd Jordan, still gets heat from hedge funds for being negative on it. Maybe that's what happens when you're right. WYNN underperformed again today, closing down another -2%.

This stock remains broken on virtually every factor in my model other than short interest (short interest is building, and that's positive for the bulls).

I see some support at $84.01. Maybe cover some there.
KM
(chart courtesy of stockcharts.com)
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