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On the surface it looks like Starbucks is on the move up.David Pace,one of the V.P.'s has exercised 2 options to buy 10,000 shares each once on the 19th and again on the 21st of this month and sold for a good profit all on the same day as the purchase.Seams a little fishy to me. They have been having good press with the opening of new stores in different countries. It looks sunny but they still charge $4+ for coffee when you can buy a better taste from Dunkin Donuts or McD's. It appears that futures in dairy and coffee may make their price go up soon. One source stated that Starbucks also expects below average earnings for the 1st qtr of '08 and a downward trend through most of '08..Price on monday was 22.63 but a couple of anylyst anticipate a pull back soon to the $16-15 range. It might be worth checking into for those that short stocks.My guess is price may fall closer to $11 before it rebounds around the 4th qtr. JMO
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