Market tanked pretty hard yesterday, and as expected, most of my positions were clobbered. The Wynn Resorts (WYNN) trading position actually held up amidst the market sell-off, and closed up for the day.
Today, the market started off really strong, but then the rally fizzled. Fortunately, it was still a very good day for me. My portfolio gets a huge boost whenever Wet Seal (WTSLA), the largest holding, moves up a significant amount. I'm still waiting for mid-$5's to $6 before I sell off another chunk of that one.
Anyway, on a different note, I don't put very much weight on insider selling, but I believe that insider buying is worth keeping an eye on. Today, I noticed that a new SEC filing for Wynn regarding insider buying was posted up. It looks like one of Wynn's directors, Alvin Shoemaker, picked up a thousand shares at $88.68 yesterday. I hope this bodes well for the near-term, because this is a substantial trading position for me, as I've already stated in my original posting.