Sunday Prep 10/31 - $SBUX Corelated w Consumer Discretionary ETF

I know this move down on the earnings report might seem overdone, but you have to remember where that Consumer Discretionary ETF (XLY) is trading. If that sector is about to roll over and fall back to support, a name like this is very likely to have some more downside. I think any push back to high 108s/low 109s offers a pretty good area to look for lower highs and a great spot to get short this name. All eyes will be on the sector ETF as well as the SPY. Remember, friends don’t let friends drink Starbucks. It’s for #BasicBishes