Starbucks Corp Hits Skids Again, Says Market Timer Frank Kollar

Jun 24, 2008 (financialwire.net via COMTEX) -- SBUX | Quote | Chart | News | PowerRating -- June 24, 2008 (FinancialWire) (By Frank Kollar) Shares of Starbucks Corp (NASDAQ: SBUX | Quote | Chart | News | PowerRating) reversed from what appeared to be a long awaited rally, from bear market lows, for this very distressed stock.

Starbucks finally made headway to the upside after losing more than half its share value from mid-2006 to mid 2008. But on Monday June 23, Starbucks dropped like a stone, losing over 5%, on news that top executive in charge of food and beverages, Denny Marie Post, has resigned.

The stock has reversed to the downside and looks like it will again be testing the $15.66 level in coming days. A close below this critical support level would likely result in lower lows, on increasing volume.

Fibtimer.com (http://www.fibtimer.com) currently has a position in Starbucks Corp in its Stock Timing Strategy.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 bear market, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar's research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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