Felt like this bull market was going to squeeze stocks with a hight short position.
Why SBUX: * SBUX holders have big gains and I expect they are trying not to book them until 2006. * There has been a lot of turnover above $30 and those wanting out could easily have booked profits.
Would still do a daily short on gaps (cult following & big short position) and will be more interested in it as a short in late December.
Good luck with the position. I've had some good short plays with SBUX but rarely hold it more than 2-3 days.