CMG could be a trap door below the $101.50 level with a quick run to $90 . That is the level I am watching. This is a tricky one because the earnings report is after the close on Thursday. I won't be short through the report but I may trade around the date.
TBSI- that I posted last night gapped up a bit so I didn't trade it, and CREE never followed through, so there was no trade there either
Tuesday, February 12, 2008
Chipotle Mexican Grill- CMG--SHORT
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
4 comments:
Was watching TBSI today to but also didn't trade it because of the gap up.
hey bubs
yeah, never chase those gaps-maybe it will give us another shot-good luck today
upside
hey upside,
I see a falling wedge on CMG on the weekly charts. I think this stock is going higher. But with earnings around the corner it's a crap shoot, but earnings aside and looking at the chart, this stock wants to go higher.
stew
i tend to agree, my level was 101 ish anyway-dismal eps could get it there but i hear ya-looking at charts now,i'm like a kid in a candy store-talk later
upside
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