SBUX update

sbux july 26 2013

There were some good calls and some that were not that good, please see previous blogs. But here we are now solidly back in the old channel  and trading at a /E close to 35x. We are not sure how to count this one other than to assume that from the lows a 5th wave unfolded. It should be close to completion if not already there. A sell at $75 for sure and given today‚Äôs high of $73.50, why wait?