Friday, October 31, 2008

Bad position day (for me)... WYNN, HK, PCX

Well, looks like the rally has tamed everything illogical to me.

WYNN is UP... on earnings... like what i said yesterday, "I might regret it" in getting in WYNN. Its Macau (in China) property always bails out WYNN or at least paints a rosy picture for analyst. But it remains that we are in a Global recession. I should have got up early to see if i could have got out of this bad position. Now I have to wait. I was thinking it would open sharply up and fade. Nope... I dont like it... Granted this stock will eventually fall, but it may take a while... If Obama wins the Prez, then i see everything going south... especially casinos.

The point is things that would be affected by the recession are up: consumer/retail, hotels, airlines... totally baffles me.

So while WYNN is up....HK/PCX/Energy down...
So while most tech is down... RIMM is solidly up (they will lose to iPhone/Android)

I am stuck and have to wait for the weekend to clear this up.

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