Starbucks has earnings after the bell and has already corrected sharply. So, as you can see on the second daily chart below I would take a hands-off approach until we see the reaction tomorrow.
That said, the other coffee stock I have been arguing as a potential short has been Dunkin, seen on the first chart below. They report in the first week of February. I still think the stock gets dicey under $46, well-defined support.
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How will JO react to the SBUX sacrifice….we will see.
JObu!
Bought CMG 501.50 for a quickie into tomorrow hehe