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Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: Gush who wrote (885)	6/16/2005 12:52:51 PM
From: Gush	Read Replies (2) \| Respond to of 4814

SBUX looks like it may fall OFF A CLIFF! 139.142.147.218

To: Gush who wrote (885)	6/16/2005 7:15:31 PM
From: Walkingshadow	Respond to of 4814

Hi Gush, Had a big deadline to meet, I just could not get online much lately. I'll answer everything later tonight. RE SBUX.... WOW! That's about as contracted as a BB can get.... 139.142.147.218 First of all, SBUX is in an uptrend, coming out of a rather severe correction now: stockcharts.com[w,a]daclyyay[df][pb50!b200][vc60]&pref=G 139.142.147.218 The 50 sma has been good support; SBUX is trading above both the 50 sma and the 200 sma for a long time now. That alone makes the odds of upside breakout high. stockcharts.com[w,a]daclyyay[dc][pd20,2!b200][vc60][iLk14!Lyb20,2.0]&pref=G Also, SBUX is relatively (but not extremely) oversold on chart support, where it is stabilizing: 139.142.147.218 But notice that there are NO technical buy signals yet. So an entry right now would be premature, IMHO. But still, the likelihood is that SBUX will break to the upside based upon the following: 1. SBUX is in an uptrend 2. SBUX is stabilizing on chart support 3. SBUX is relatively oversold Very nice... downside risk is quite low; initial stop would be just below the lower BB rail. Now I wish I would have just set a trailing stop with MFIC.... up another 18% today. But it is tricky showing them your stop on these thinly trades stocks. 139.142.147.218 I think SBUX may hover for a few more days until the stochastics cycle down a bit more, then we'll see a reversal to the upside. Another very nice find, Gush. T