The rally in starbucks is overdone and has clearly reached the target and formed a top. Expect a pullback to the gap zone around 15 within 2 months. I do expect though another window dressing year end rally starting in November before we drop to much lower lows in Q1 next year. Sell any strength in SBUX for the next days as this stock should also be a loser in the ongoing sector rotation.
Tuesday, September 1, 2009
Starbucks - one sample of a good short
The rally in starbucks is overdone and has clearly reached the target and formed a top. Expect a pullback to the gap zone around 15 within 2 months. I do expect though another window dressing year end rally starting in November before we drop to much lower lows in Q1 next year. Sell any strength in SBUX for the next days as this stock should also be a loser in the ongoing sector rotation.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment