ParkTwain's Parlor

Grebnet, that is a cool site!

[grebnet]

May Be Of Interest

This isnt really my cup of tea but may help you :

http://www.stockfetcher.com/stockdb/fetcher?p=forum&fid=1006

If you discount the value of moving averages, why do you care about Bollinger Bands?

Does anyone around here know whether any of the free stock screener sites includes Bollinger Band Width as a search parameter?

(snip) I guess if the masses watch something it may be worth watching.(snip)

That is what I would think. However, there could be investors with enough money that do not care about the MAs.

Very few stocks are bucking the trend the last 3 days. Most are small or regional banks (which I typically disqualify via my breakout screen), with a few acquisition targets, and otherwise miscellaneous teflons. Two stocks I mentioned recently in a previous post, LNDC and ACTS, are still found in today's list of new 52-wk highs:

http://www2.barchart.com/high.asp?=&sort=8&what=ALL&force=high%2easp

If their RSI is holding (or at least not transitioning into a new downtrend) and their volume is holding up, then these guys are showing laudable relative strength and should do just fine if/when the overall market turns up (such as after tomorrow's options expiration).

Park I agree with ya on that. I don’t think that anything is magical about the 50 or 200 day moving average other than many people watch it. I guess if the masses watch something it may be worth watching. I think PRICE shows where support or resistance is located.

I love it when TA specialists state confidently that a 50DMA will provide resistance (or support). Not if there wer never any significant previous actual transactions at that price! The DMA is a statistic. It can at best *imply* that a point or range of support or resistance *might* exist. But that implication can be misleading. To remedy, just *look at the price-volume chart*! You can see where the actual volume took place. A statistic does not have a memory of a previous buy or sell transaction!

[skiracer]

The Wagner Weekly has SBUX as a short.
From the free weekly newletter they send out:

"# Industry - Restaurants
# Side - Short
# Stalking since - May 17
# Timeframe - 5 to 10 days (swing trade)
# Trigger - 35.84
# Target - 32.60
# Stop - 37.94"

Edit: A bit more info from the above:

"# Notes -

o SBUX has dropped almost 15% after setting a new 52-week high on May 5.
o These failed breakout attempts often lead to steep drops, trapping those who bought near the highs.
o The 50-day moving average is now above and should provide resistance.
o Our short entry is below yesterday's low minus some wiggle room.
o The buy stop is placed above the 50-day m.a. (about 1.5 ATR's from our entry)
o Trade expectations - We are looking for a quick drop to 32-33 area."

I think skiracer has the pay subscription to the site. So, there be more information about the trade.

Only if you pay for it.

Sbux

I think I heard the last bubble!

Starbux is headed for the bottom.

Maybe the near-term short swing trade is the better trade. I had been looking at the basing at about 35.00/sh going up to March 13 as the currently operative support. That basing took place over 5 or so sessions. A new short position at a trigger of 35.84 (transgressed 2 days ago), according to the site recommendation that was posted, would be a loss position as of today. (I would have estimated the trigger to be a bit lower.) It bounced Monday at 35.50/sh, and it bounced earlier today at 36/sh. We'll see how it behaves at 36/sh again perhaps before EOD today. I am long at 36.68, so, Runner, I was already thinking like you.

Some technical indicators for SBUX today point to more downside expected, but full stochs show a bounce underway. But I have been anticipating that the overall market will bounce back up, which is a different kind of assessment and of course could be mistaken. But notice that the leading economic indicators fell (not expected) last month, as reported today. This would be good for today's market, is my understanding, as it lessens the Fed's drive to keep raising rates.

As for non-technical feelings about this stock, I have noticed that I shouldn't underestimate SBUX management and their ability to grow revs from existing stores. For instance, they will be installing music downloading stations in stores going forward.

I was thinking long over 36.50 but who knows..

Parktwain, SBUX looks bearish to me, why did you take the long?

The Wagner Weekly has SBUX as a short.
From the free weekly newletter they send out:

"# Industry - Restaurants
# Side - Short
# Stalking since - May 17
# Timeframe - 5 to 10 days (swing trade)
# Trigger - 35.84
# Target - 32.60
# Stop - 37.94"

Edit: A bit more info from the above:

"# Notes -

o SBUX has dropped almost 15% after setting a new 52-week high on May 5.
o These failed breakout attempts often lead to steep drops, trapping those who bought near the highs.
o The 50-day moving average is now above and should provide resistance.
o Our short entry is below yesterday's low minus some wiggle room.
o The buy stop is placed above the 50-day m.a. (about 1.5 ATR's from our entry)
o Trade expectations - We are looking for a quick drop to 32-33 area."

I think skiracer has the pay subscription to the site. So, there be more information about the trade.

I like SBUX and if 35 holds I think it has a chance at the 40 area. ParkTwain what you think of SBUX action?

LNDC has been behaving very well this week in an overall down market. Couldn't resist taking a new long position this morning. This one was listed in my post of a couple of days ago.

Also long GFF at 28.38 as of a couple of days ago.