Shorts are panicking, sentence structure is falling apart, old BS is being recycled, arguments are getting weaker and weaker and weaker. Doesn't look like anyone's buying what the shorts are selling. Like I said, they'll be gone within a month. Given the panic evident in recent posts from shorts and bashers, they may not last through next week! It's a great day to be long!
SBUX news was not good news. So what, they met a re-adjusted 13 cent earnings number. Two upgrades today. So what, analysts upgrade after they have bought stock. All I can say is "you are going to be sorry!
J.P. Morgan stated only that SBUX will be a "market performer." Morgan did not change its estimates of 0.54 and 0.68 for FY99 and FY2000, respectively.
Also, on 06/30/99 AMZN $125 and SBUX $37 1/2. Yesterday, both stocks trading at lows for the month of July and traded down on Thursday. No earnings news for AMZN. AMZN up 7% and SBUX up 8%. The market just gave back some of its earlier take-aways. AMZN $114 up $7 and SBUX $26 up $2.
SBUX should be a good trading stock, short in the high $20s and buy in the low $20s.