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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Trader J who wrote (56421)	8/14/2024 2:57:26 PM
From: Zen Dollar Round	1 Recommendation Recommended By Trader J Respond to of 56532

I'd have done the same with SBUX. News like that has a typical overreaction and run up, and there was probably some short covering involved as well. It'll take time for Niccol to have any meaningful effect on SBUX's bottom line, and he doesn't even start until September. SBUX is probably a good near term short here since I expect it to drift lower as the euphoria of the CEO change wears off. As for Steve Ballmer, his monkey dance was one for the ages. I posted about it several times here on SI, with links to the video. It's hard to find a decent copy of it now, most are really poor quality and look like they were recorded on a degraded VHS tape in the early 80's.