What's Brewing at Green Mountain?

It's going to be a sound-bite, Fed-driven week. I expect the action to drive higher this afternoon and become choppy heading into the morning. I despise Fed drivel that drives the headlines. It makes for messy technical patterns and big reversals out of nowhere, even on the best setups. It creates a need to widen stops, which also means lessening position sizes. The frustration really comes when you are correct on a position/move and you don't make nearly the same amount of profit as a normal day. It is on those days where one must remember to be content with the profit of the trade and not dwell upon what could have been. Otherwise, the cost to emotional capital will affect you more than just a few missed dollars on a trade.

Just after earnings, I talked about watching Facebook (FB) for a continuation trade. I think the same needs to be done with Green Mountain Coffee Roasters (GMCR) here. I'm watching two patterns but my focus is on the five-minute chart after the big gap higher. GMCR is trying to build the right shoulder on an inverse head-and-shoulders pattern here to push up and retest Friday's highs. The CCI has run back above 100, which was the catalyst for Friday's move higher intraday. Furthermore, there are still a lot of shorts in this name, but last week's action likely created a bevy of new shorts. Another squeeze is very possible and a move above $113 should get us that squeeze back to the $120 area....110 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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