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Fast Money HomeFast Money Rapid RecapAbout Fast MoneyFast Money BiosFast Money Web ExtraFast Money Disclaimer
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Feb.25
5:56 PM ET
Wednesday, 25 Feb 2009
Don't Let Winner Run

Just like the song says, “you’ve gotta’ know when to hold ‘em and know when to fold ‘em." Gamblers and traders alike are walking away from the table.

Fast Money Series Producer John Melloy first wrote about this phenomenon in his blog. (Click here to read.)

And it’s something Steve Wynn has commented on as well. "We are seeing changing patterns of behavior at the table. People are being more cautious. When they win, they are playing for shorter periods of time...where before they said, 'Oh boy we've got the house's money, let's play longer," said Wynn on a recent conference call.

I think it’s an interesting observation, muses Karen Finerman. This market is so volatile that even a long term investor like me takes profits.

When the good operators start complaining it suggests really bad things for the industry, says Jeff Macke.

Macke is referring to the latest earnings from Wynn Resorts [WYNN  Loading...      ()   ] and rival Melco Crown Entertainment [MPEL  Loading...      ()   ] . They both reported fourth-quarter losses as the recession hurt business in Macau and Las Vegas.

Just like we said above “you’ve gotta’ know when to hold ‘em and know when to fold ‘em.

______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to .

Trader disclosure: On Feb. 25th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (GE) Put Spread; Najarian Owns (DNA) Calls; Najarian Owns (FCX) & (FCX) Calls; Najarian Owns (GDX) & (GDX) Short Calls; Najarian Owns (HPQ) Calls; Najarian Owns (MSFT); Najarian Owns (MS) & (MS) Short Calls; Najarian Owns (X) Put Spread; Najarian Owns (WFC) & (WFC) Calls; Karabell Owns (AAPL), (BHP), (FCX), (GOOG), (GLD), (JPM); Macke Owns (MS), (TM), (SDS), (DIS); Finerman Owns (RIG), (DAI); Finerman's Firm Owns (DNA), (MSFT), (RIG); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (USO); Finerman's Firm Is Short (BBT); Finerman's Firm Owns (WFC) Preferred

© 2009 CNBC

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