If we learn anything from RIMM breakout this morning, it always pays to keep an eye out early in the game when stocks are starting to move. RIMM trade is working very nicely. 
The street has shut its eyes on casino stocks for a while. LVS is making fourth attempt to breakout above $19 in six months. The volume is a bit light, but the longer we just grind near $19, the better the chances the stock will push higher. The catalyst I believe will be opening of LVS's first casino and resort in Singapore called Marina Bay Sands. The $5.5 billion project is schedule to partially open this April.
On the other hand, WYNN chart shows a very similar picture. The stock is clinging to get above $72.50 which is the upper band of the converging triangle. WYNN Macau operations are much more leaner than LVS and the growth there will continue to unfold as Wynn depicted in its previous earnings report.
I am bullish on both stocks, but I need to see a clear break out (LVS above $19 and WYNN above $72.50) before jumping in. I am setting the orders below to execute automatically on a breakout $0.02 above the mark:LVS Call Spread:
- Buy to open June $19 calls
- Sell to open June $22.50 calls (currently mark is $1.09)WYNN Call Spread:
- Buy to open June $75 calls
- Sell to open June $85 calls (currently mark is $2.38)
Good luck!
