ATA – Closed WYNN Dual Calendar DEC9/DEC16 96/101

Don’t poke the Sleeping Tiger. Out of the blue , China let leak that they intend to significantly reduce the amount of money that can be taken out of ATMs in Macau. This may sound like a minor item but it had a multi-billion dollar effect on the casino stocks such as WYNN and LVS.

Prices were moving around quickly and spreads were wide as the market sorted out the real story. After some work, I was able to exit at a minor loss. Considering the crazy circumstances, I consider that to be a good outcome.