The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (21643)	11/11/2004 1:08:03 PM
From: bcrafty	Read Replies (1) of 110194

russ, I think you meant to say to watch for a big red stick on SBUX So far today the opening gap down has been bought and the stock is down less than 1% from yesterday. Most indicators on the daily chart a showing that the stock is overbought (RSI, MACD, & CCI particularly) and it's showing a slight negative divergence in money flow beginning about two weeks ago. It will be key to see how the stock does if it drops to the the lower trendline from a year ago around 48, which is currently in the neighborhood of its 50 sma. Beyond that, despite what happens in the next few weeks, it's still one of the prettiest charts in the index. There are definitely better stocks out there to short for the longer term, ones that show some current significant weaknesses either technically or fundamentally. stockcharts.com[h,a]daclyyay[dd][pb50!b200!f][vc60][iLa12,26,9!Ll14]&pref=G Considering its plans to open a total of 1500 stores worldwide in 2005 (they now have around 8700 and plan for a larger goal of 30,000 worldwide) and considering the presumed gross margins on its products (see link below) this outfit is not merely brewing coffee, it's apparently printing money. boston.com I have no position in SBUX.

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