Why I am shorting SBUX

It is the "Path of Least  Resistance "  explained in this post which I will write it again later particularity for SBUX
And here it is:

SBUX short trade

SBUX

Started shorting SBUX also warned on Twitter here

SBUX glass floor warning on Twitter here

SBUX 4th touch down to glass floor warned on Twitter here

Further plan development on shorting SBUX twitted here

Revisiting short SBUX after :dis-comfortable short-lived spike

To remember the lesson twitted here #STUDY this hard

AAPL the warning was given here again on TWITTER lol

and if you still were stubborn to hold your long then I can't help you sorry 

SBUX

SBUX

SBUX

On the daily chart I see resistance above the 60.00. Normally for a big board stock to break such resistance, it needs to consolidate for few days right below the 60.00 resistance,  to get accumulated.

In SBUX case I see a quick two day rally from the $56 bottom on Jan 7.  That is a nice percentage gain for SBUX running into this 60 resistance. It is more likely to have some profit taking by whom ever was buying it from the bottom 56 area. When SBUX was at 56 I did not know if it was  a bottom although was near the 200 daily sma. Guessing the bottoms is quite hard(for me ), but it is easy to see in the hindsight when is already created. The next thing that is easy(er) is  to find the resistance above , and much easier to acknowledge the fact that there has been a nice rally from the 56 and yes, again, somebody is profiting on that rally, and that somebody is more likely to sell for profit. Most likely that somebody are the institutions who load and unload such huge positions that they are actuality the ones creating the move. When institutions are having these massive positions, they can not just sell and unload with click of a button. If  SBUX is trading on average 10 mil shares a day, do you think a institutional holder will sell their 3 million shares with one click of  sell button?  He he..They have super smart professional traders who work with all kinds of sophisticated algorithms to make the stock move in such a manner that by the time you figure what they are doing you already lost your money. And  of course at the end of the day the stock went where you were actually expecting.. So when I was  thinking  (day)trading is all about guessing the direction,  I was so far away from standing the chance to make any money. And I write this because there are many like me who want to make it , but before they even give themselves  a chance, they will blow up and can not survive  to even come to the point to realize that it CAN BE done. It can be done but to get there the size of your trades has to be tiny to start understanding with no emotions how trading actually works.

In one if my earlier posts I explained the (psychological) difference between going long and going short , and why shorting is much easier then going long. I may write it again later on here  ( I just enjoy bubbling about this because I felt such great relief once I realized it is so much easier v.s going long

Subscribe to my blog and look for an update later on... if you are not bored reading this , you are on your way to make it , pardon to at least stop losing :)
cheers

AngelDan@DaChopa.