WYNN - Hopefully everyone got the post to sell the calls first thing this morning. If not, the stock is down hard on the EPS news and Steve Wynn's comments made regarding the capacity of Las Vegas to completely withstand an economic slowdown. Anyway, we are closing the put position if the stock closes below 110.5. Earnings season is volatile.
Finally, I forgot to update why I didn't recommend closing out CMG or SWIM yesterday. I watch the charts all day and found that the stocks were finding support just below the recommended exit points. Also, it must be noted that the risk management levels can change from one week to the next. Going forward I will be more diligent in covering those changes and discuss levels of interest in more detail. CMG's new risk management level is at a close below 105.