Updating my post from earlier, my Starbucks short is predicated on price being rejected down away from the declining 50 and 200-day moving averages, highlighted by the arrows on the daily chart, below.
On a relative and absolute basis, the stock has been quite weak since late-July, after being a huge consumer winner for years on end.
I still think the stock has the potential to dip into the mid-$60’s in the coming months.
I am wrong if we see a close back over $76.50.
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Added more earlier, on board with your thesis..props on the call, credit goes to you for the heads up on it back in Sept
Good man. You should check us out in 12631. No pressure but you’d be a great fit for our room.
Been thinking about it a lot lately
Gosh, you’re not kidding Chess. It looks like there’s room all the way down to about $60 if it gets rolling. Hoping to get in on a bounce. Also stalking shorts in $BNS and $RY, but I’m not getting any bounces to short into so far.
am going with RY nov22nd 78s ask1.22
in montreal in morn, if the markets even open