Today’s Trade Idea:Reiterating SBUX Bucket 2 Short and Thoughts on AAPL
See the full position lineup of our bucket 2 swing trading portfolio HERE
See the full position lineup of our bucket 3 investment portfolios HERE
Please join the Inner Circle and Market Rover conversation in our members Slack chat room
Reiterating SBUX Bucket 2 Short and Thoughts on AAPL
Rather than adding a fresh bucket 2 swing trading idea, today I want to reiterate our bucket 2 swing trading short in shares of Starbucks (SBUX).
We first published this idea on September 7th HERE and still very much like it.
Our basis for this trade is simple: As the economy continues to slow and the consumer is getting increasingly stretched (with the additional kicker of student loan payments being reinstated as we speak), do people opt for more $7 lattes? Probably not.
Thoughts on AAPL
While AAPL remains bullish trend on the Market Rover, the two gap-downs from Aug 4th and Sept 7th in our view have now confirmed a lower high in early Sept, versus the year to date high in August.
We view it as likely that AAPL stock gravitates down toward its 200 day moving average in coming weeks, which currently resides around the $165 area.
Today’s Trade Idea: Reiterating SBUX Bucket 2 Short and Thoughts on AAPL
See the full position lineup of our bucket 2 swing trading portfolio HERE
See the full position lineup of our bucket 3 investment portfolios HERE
Please join the Inner Circle and Market Rover conversation in our members Slack chat room
Reiterating SBUX Bucket 2 Short and Thoughts on AAPL
Rather than adding a fresh bucket 2 swing trading idea, today I want to reiterate our bucket 2 swing trading short in shares of Starbucks (SBUX).
We first published this idea on September 7th HERE and still very much like it.
Our basis for this trade is simple: As the economy continues to slow and the consumer is getting increasingly stretched (with the additional kicker of student loan payments being reinstated as we speak), do people opt for more $7 lattes? Probably not.
Thoughts on AAPL
While AAPL remains bullish trend on the Market Rover, the two gap-downs from Aug 4th and Sept 7th in our view have now confirmed a lower high in early Sept, versus the year to date high in August.
We view it as likely that AAPL stock gravitates down toward its 200 day moving average in coming weeks, which currently resides around the $165 area.
Chart: