Friday, January 28, 2011

SBUX Watch

The coffee shop chain Starbucks Corp. (SBUX) pierced the lower 20-day price-channel line at $31.74, signalling a move to neutral phase and, under my rules, requiring any bull positions to be closed.

The company entered bull phase on Oct. 12, 2010 with a $26.57 breakout level, and moved from there to a swing high of $33.78 on Jan. 25.

See my detailed write-up on SBUX posted Thursday.

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.

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