My take is that looking at the daily chart, Wynn has come a long way from the recent bottom. This is largely news driven and short covering, no denying that. However, given the recent aggressive move up, it's likely that this stock will take a bit of breather to the downside. If you can be nimble and play that short pause, more power to ya!
From the weekly chart, indicators show no resistance until about $100 per share. That's a lot of upside from here if one believes China is serious about propping up Macau growth. Without headlines or a solid plan, there are no real catalyst that prevents the long term down trend from continuing. Remember, even if policy/attitude changes in short order, whales may not test the waters anytime soon. Casinos are still revamping to attract and cater to the masses. There is a little evidence that this is working, but let's face it, until growth momentum comes back, institutions aren't going to pile in their stash to aggressively push this stock higher.
You can get in front of them and hope they'll be right behind you, or follow suit if and when that happens.
Whether or not the share count is real, 56 is a resistance level from 50 day simple moving average. You can always do 18 put options to play the same directional bet for much less principal. Some people just like to roll the dice. =)
I think it'd be a better short at 60, if the stock price can get that high. Or, wait for some confirmation that 56 can't be breached... But hey, some likes to place wagers early and see if they get lucky. Nothing wrong with that!
Something to consider: Historically, Oct. ~ Jan. have been strong for the airlines due to seasonality plays - Leading to higher fares and occupancy per flight.