Re: what's my opinion of sbux short term
I think it will rollercoaster down below 30 again within the next month, perhaps sooner considering the spike from nowhere last week. After seeing that ridiculous runup, who knows, perhaps another bigger one can be engineered before the fall, but I'm thinking all the bandwagon jumpers already jumped aboard (hope they have bungee cords!) and try as they might, the little elves won't be able to find enough real investors for now to keep the price up. With such a sudden and furious runup, I wouldn't really be surprised if the downside was just as quick. And at those levels, watch out if even a hint of less than glorious news occurs. Or more likely, no news (who said no news is good news?).
I probably won't buy in again unless it drops to 24 or lower, and I think it will by the end of the year. By the way, I owned shares for over 4 years, selling the last at what I thought was the impossibly high price of 32-something. Sheesh!
Chances are that the way down to realistic levels (barring a market correction) will be a down 2, up 1 kind of thing, considering how many shares have been shorted overall.
By the way, I shorted sbux last week.
disclaimer: what do I know?!?
I still love their coffee, though, and I think very highly of the company. But you know what they say, don't fall in love with your stock! |
