Flashback - WYNN

WYNN broke 80 today. Quite obviously, I should have held on to it for a while longer. I'll track how CSCO runs, and see if I need to adjust my tactics when playing earning's reports.

A month ago, I played Starbucks and Oracle well, getting out before both stocks gave back some of the initial run after their earnings reports. Both stocks eventually held their gains, after people like me got out and took profits. If I had held them, I'd look pretty good at this point, but I seem to be a bit hyperactive for that. WYNN, so far, is the anomoly at this point, it's post earnings report slump lasted for a few hours, not a few days, like SBUX or ORCL.

If you buy a stock as a trade, decide what your exit price is, hit it, sell it, you "won"; your plan was executed. But, that may be a too short term view, if you really have conviction towards the companys long term results.

I sold WYNN to fund my bet on CSCO. I missed $3.50 worth of profits to fund CSCO. If I had held WYNN until today's high, I would have made an additional $133 on the trade. I turned a $348 profit on my CSCO trade. So, based on that, selling WYNN and buying CSCO was a great move. I could have sold other stocks to fund my CSCO buy, and held WYNN, but since WYNN did not beat estimates, I had little conviction.

So, in the end, my tactics worked out in my favor. We'll see how I play AIG tomorow.