Ironically I was looking at SBUX last weekend as it touched the broader support line. However, I just did not like the direction of the company, and it seemed all the excitement around SBUX was slowly fading.
The hand of God has now come down and blown air into the lungs of SBUX bringing in the current CEO of Chipotle. Good news for SBUX but is this an area you want to buy?
Probably not!
This could be some short covering and the herd chasing the new CEO. Let the fan fare wear off and I think you can pick some shares up in the low to mid 80's. That's where I am a buyer as of now.
That does not imply I won't buy higher, its just I don't buy the fluff and right now this is fluff.
The hand of God has now come down and blown air into the lungs of SBUX bringing in the current CEO of Chipotle. Good news for SBUX but is this an area you want to buy?
Probably not!
This could be some short covering and the herd chasing the new CEO. Let the fan fare wear off and I think you can pick some shares up in the low to mid 80's. That's where I am a buyer as of now.
That does not imply I won't buy higher, its just I don't buy the fluff and right now this is fluff.
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