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Pastimes : Starbucks SBUX

SBUX 83.97

-0.3%

3:59 PM EST

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To: SONAR who wrote (106)	9/24/1996 10:41:00 PM
From: Candle stick	of 148

SBUX got hammered today hitting a low of 34 on a day when the fed did not raise rates. Poor performance. Trendline support lies at 34, but once this is broken there will be no stopping a 20% decline, minimun. To add more fuel to the fire; " New York, Sept. 24(Rueters)- Coffee People inc. is expected to make its Wall street debut on Wednesday, hoping to carve out a niche of the coffee retail market dominated by industry leader Starbucks corp." Just as I posted earlier on the Overvalued Stocks thread, competition is looming around the corner and this is just the tip of the iceburg- SBUX will face eroding margins and loss of market share in the weeks to come-not to mention most likely some institutional dumping of the stock. This is your last chance to get out, in my opinion. By weeks end the trendline support will be gone and everyone will be trying to jump ship- thats an ugly sight when you're sporting an 80 P/E.

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