1/11 Watchlist: SBUX losing it's bite

• EUR/USD keeps its bull signal
• Indicators little changed from the Morningline
• January holdings, possible closes:
  
• KO jumps up toward top of profit range
• SBUX falls toward no-caf, no profit
  

 All holdings that expire in January must be sold, except for those that I intend to allow to expire worthless or whose exercise would be profitable. My LVS covered call (-c16), for example, will be exercised, so no action is needed.

The KO jump  brings it up to 56.13. The iron condor (p50/-p52.5/-c57.5/c60) has max profit up to 57.5.

SBUX is trading at 23.02, about 2% below the profit point. It's a tough decision. There is no pps bear signal, although the macd is in bear territory and the stochastic is moving that way. But, the price bounced a bit off of resistance at 22.87, so maybe there's hope.

Here's what's interesting among the high-volume . . .

. . . exchange-traded funds:

• UNG shows a pps bear signal, confirmed by the macd but with a meandering stochastic. It's trading at 9.92, a resistance point, but has potential at least down to the 8.50 resistance set in December. The trend is generally down, although the 20-day moving average has turned upward.
  
• Little engines that couldn't: These etfs gapped above resistance at the open and then moving back below: XLB, OIH

. . . corporate shares:

• MSFT moves below its 20-day moving average amid an uptrend. The macd, stochastic and pps are bearish.
• CAT up 6.4% from Friday's close as it completes a symmetrical triangle. The pps, macd and stochastic bull signals came on Jan. 5, the 4th day prior to the move, which pushes the prices up to resistance set in September 2008. It's made it's move and in my book is not a position that I plan to open.

The analysts were busy little beavers this morning, and a number of stocks jumped on upgrades. I ignore those. To trade on an analyst upgrade is the same as trading after the release of good news. The shares, most likely, have already priced in the new prospects.

Trader's Bookshelf

Topics Coca-Cola, Las Vegas Sands, gambling, resort, Starbucks, coffee, natural gas, building materials, oil field services petroleum crude, Microsoft, Caterpiller, dollar, yen, Japan.