$SBUX long off the table with morning gap up As m
Post# of 474
Posted On: 10/25/2012 9:35:03 AM
$SBUX long off the table with morning gap up
As mentioned before, we closed out of the $SBUX short with big gains and I was looking for a long position with a close above the sloping trendline. (see earlier report)
Today it gapped above the trendline and so I missed the long entry on this. There will be good day trades available, I'm thinking a short scalp at 47 would be good as that is a pierce of a gap window, a pivot, and a whole number. However, swing trades to the short side for me would only look good at a pierce of the 20 DMA. The stock is in a confirmed downtrend and that would be a retrace short. Good luck, time to make some day trades.
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