The error of my ways

I purchased recently Starbucks/SBUX for various reasons, but two primary reasons devolve to the chart action -- I believed the most recent down trend sufficiently aged to seek a reversal and that reversal should occur on the rising bottoms line. However, I stopped out this morning at $32.35, breaking even after costs.

This is a position I favor - and have for a very long time - but must acknowledge that the shares quietly lose their leadership status. Late Friday, a corporate memo leaked of the CEO's concern that the company's products were commodifying - never good to discover - and the stock reversed hard.

Today, the stock breached the identified rising bottoms line. Even though I can identify support points at current prices, I cannot ignore the reality of what transpires. On to other, better (I hope) opportunities.
-- David M Gordon / The Deipnosophist