GMCR (Green Mountain Coffee Roasters) is on the receiving end of getting roasted today, currently down 9% from the short entry yesterday. Although I still prefer the target at 34.50 posted yesterday, I have updated the daily chart to reflect a first target zone that runs from that level down to 33.15 for those who might want to skim a little more cream off this trade. I’ve also added a second potential target at 30.40 (T2) but will most likely remove this trade if & when T1 is hit unless the broad market starts to giddy up on the downside soon. Also consider lowering your stop to entry at this point to assure at least a breakeven on the trade.
