Sunday Prep 10/31 - $SBUX Corelated w Consumer Discretionary ETF
I know this move down on the earnings report might seem overdone, but you have to remember where that Consumer Discretionary ETF (
XLY) is trading. If that sector is about to roll over and fall back to support, a name like this is very likely to have some more downside. I think any push back to high 108s/low 109s offers a pretty good area to look for lower highs and a great spot to get short this name. All eyes will be on the sector ETF as well as the SPY. Remember, friends don’t let friends drink Starbucks. It’s for #BasicBishes
XLY) is trading. If that sector is about to roll over and fall back to support, a name like this is very likely to have some more downside. I think any push back to high 108s/low 109s offers a pretty good area to look for lower highs and a great spot to get short this name. All eyes will be on the sector ETF as well as the SPY. Remember, friends don’t let friends drink Starbucks. It’s for #BasicBishes 
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