Wednesday, December 11, 2013

Volume Off the High- Dec. 10 Trading Day Edition

Wanted to highlighted a couple of names that could see further downside after coming off of the highs in yesterday's trading. First, SBUX could close the gap at about $68 price point, some $8 lower than current prices. This was after the Street has apparently grown concerned about sales trend levels. However, I would do your homework with this one. Second, IEP, Icahn's investment vehicle, came off hard and continues to do so. This follows the announcement of a secondary share offering, essentially signalling an overvaluation in the portfolio. I would note there is a gap way down below $60 per share, or more than $50 lower than current prices.

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