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FirstAlert(tm) Daily 6/15/10: Starbucks Nears Two Year High

- Technical Market Commentary -

June 15, 2010 (FinancialWire) (By Frank Kollar) (Go to http://www.financialwire.net/?s=cmmtry for all recent commentaries.) — Shares of Starbucks Corp (NASDAQ: SBUX) continue to try and break out above critical resistance. Starbucks is at highs last seen in September 2007. The $28.00 level is also the 61.8% retracement of the entire bear market decline for Starbucks and would mark a huge breakout for this stock if it is decisively surpassed. Since April, Starbucks has rallied to this resistance level three times, with the most recent rally being yesterday, June 14. If the breakout occurs, we are looking for Starbucks to reach our next target for this stock, at $32.95, in coming weeks.

(Go to http://www.financialwire.net/?s=frank+kollar to see more commentaries by Frank Kollar.)

The FirstAlert(tm) “Money Index” is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ/AMEX 25 Most Actives and NYSE/NASDAQ/AMEX greatest Percentage Losers and Percentage Winners (weighted against pure monetary loss/gain) indicate the direction in which the mass of money is flowing, as well as the general focus of the market. Last session’s Most Actives showed 9 advancers versus 16 decliners. The complete chart for today’s Money Index is accessible via Investrend’s dedicated Stock Smart NYSE-AMEX-NASDAQ Summary webpage (at http://www.investrend.com/fa-index-2010-06-14), and real-time, streaming research for all Money Index companies is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Volume Leaders were led by the SPDRS S&P 500 Trust ETF (AMEX: SPY) (streaming research for SPY available at http://investrend.stocksmart.com/ri/toc?tid=34430), Citigroup, Inc. (NYSE: C) (streaming research for Citigroup available at http://investrend.stocksmart.com/ri/toc?tid=7921), the Financial Select Sector SPDRS ETF (AMEX: XLF) (streaming research for XLF available at http://investrend.stocksmart.com/ri/toc?tid=1026233), Intel Corp. (NASDAQ: INTC) (streaming research for INTC available at http://investrend.stocksmart.com/ri/toc?tid=3619), and the PowerShares QQQ Trust ETF (NASDAQ: QQQQ) (streaming research for QQQQ available at http://investrend.stocksmart.com/ri/toc?tid=1044870).

Last session’s Greatest Percentage Winners making the greatest monetary gains were led by InfoLogix, Inc., (NASDAQ: IFLG) (streaming research for IFLG available at http://investrend.stocksmart.com/ri/toc?tid=3000375), Cadence Financial Corp. (NASDAQ: CADE) (streaming research for CADE available at http://investrend.stocksmart.com/ri/toc?tid=984273) and Bank of Granite Corp. (NASDAQ: GRAN) (streaming research for GRAN available at http://investrend.stocksmart.com/ri/toc?tid=3058).

Last session’s Greatest Percentage Losers taking the greatest monetary losses were led by BP plc (NYSE: BP) (streaming research for BP available at http://investrend.stocksmart.com/ri/toc?tid=7893), THQ, Inc. (NASDAQ: THQI) (streaming research for THQI available at http://investrend.stocksmart.com/ri/toc?tid=11168) and CompuCredit Corp. (NASDAQ: CCRT) (streaming research for CCRT available at http://investrend.stocksmart.com/ri/toc?tid=1053599).

The FirstAlert(tm) Economics Calendar lists the Empire State Manufacturing Index for June (8:30 am ET); Import/Export Prices for May (8:30 am ET); Weekly Chain Store Sales (8:55 am ET); Treasury Int'l Capital Flows for April (9:00 am ET); NAHB Housing Market Index for June (10 am ET).

The FirstAlert(tm) Events Calendar showcases ACF, KWK, AF, AGII at the Macquarie Securities Small and Mid-Cap Conference; CHYR, BITS, CRYP at the New York Society of Security Analysts Annual Technology Innovators Microcap Investment Conference; CNQR, RVBD, DKS, AXP at the William Blair & Company 30th Annual Growth Stock Conference; HUN, TNB, CAT, KSU at the Wells Fargo Securities Industrial Conference; IART, AUXL, THRX, HGSI at the Goldman Sachs Global Healthcare Conference; MGM Shareholders Meeting; WERN, CGI, JBLU, ALGT at the Bank of America Merrill Lynch Global Transportation Conference.

Quote of the Day: "No president who performs his duties faithfully and conscientiously can have any leisure." –James K. Polk (11/02/1795 – 06/15/1849), 11th US President.

Word of the Day: vernacular \ver-NAK-yuh-ler\, noun: 1. The plain variety of language in everyday use. 2. The language or vocabulary peculiar to a class or profession. 3. The native speech or language of a place. 4. Any medium or mode of expression that reflects popular taste or indigenous styles.  adjective: 1. (of language) Native or indigenous. 2. Using the native language of a place. 3. Using plain, everyday language.

In context: “The Dow dropped nearly 1,000 points on May 6, before it recovered around 600 points to close down over 300 points. In mountain climbing vernacular, that's an ‘elevation change’ of 1,600, or almost 15 percent, in one day's hike through the jagged peaks of Wall Street.” — Stan Sewitch, "Fastest lemmings in the West", San Diego Daily Transcript, May 2010.

(The origin of vernacular is the Latin vernaculus, "domestic or native.")

Today is: Native American Citizenship Day

Happy Birthday: 1954 – Paul Rusesabagina, Rwandan hotel manager who saved over 1,000 people during the Rwandan Genocide of 1994; 1964 – Gavin Greenaway, British composer; 1969 – Ice Cube, American rapper and actor; 1979 – Danielle Lineker, Welsh lingerie model; 1982 – Abdur Razzak, Bangladeshi cricketer; 1988 – Miku Ishida, Japanese teen idol.

Today in History: 1667 – The first human blood transfusion is administered by Dr. Jean-Baptiste Denys; 1752 – Benjamin Franklin proves that lightning is electricity; 1844 – Charles Goodyear receives a patent for vulcanization, a process to strengthen rubber; 1909 – Representatives from England, Australia and South Africa meet at Lord's and form the Imperial Cricket Conference; 1954 – UEFA (Union des Associations Européennes de Football) is formed in Basel, Switzerland; 1985 – Rembrandt's painting Danaë is attacked by a man (later judged insane) who throws sulfuric acid on the canvas and cuts it twice with a knife; 1992 – The United States Supreme Court rules in United States v. Álvarez-Machaín that it is permissible for the USA to forcibly extradite suspects in foreign countries and bring them to the USA for trial, without approval from those other countries; 2002 – Near-Earth asteroid 2002 MN misses the Earth by 75,000 miles (121,000 km), about one-third of the distance between the Earth and the Moon.

FirstAlert(tm), published exclusively by FinancialWire(tm), was created by Gayle Essary, founder of Investrend Communications, Inc., parent of Investrend Information. The opinions expressed in FirstAlert(tm) do not necessarily reflect the opinions of Investrend or of FinancialWire(tm).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate, courtesy of Stock Smart (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” webpage (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Disclosure: Frank Kollar’s Fibtimer.com Stock Timing Strategy holds a position in Starbucks.

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